BiggerPockets

Scrooge's Concerns: Materialism and Greed in America

Saturday, December 26

It’s The Most Wonderful Time of Year?

I was at the mall on Christmas Eve to partake in my annual last minute Christmas shopping.  After parking 2.3 miles from the mall and being shuttled to the entrance of the temple that most Americans pray at this time of year, I made my way through the crowds to a sneaker store.  I complemented the clerk on his shiny new sneakers which he quickly bragged were the new Air Jordan Space Jam shoes that were released yesterday at a meager $200 a pair (probably made in Indonesia for $10).

“Wow” I responded, “who would pay that much for shoes in this economy?”   To my shock, his response was “a lot of people”  He informed me that the shoes sold out within 10 minutes of the store opening and there were 2 people in a fist fight in line before the store even opened.  I shook my head in amazement and remembered that I hate this part of Christmas.  

 Yes there are some good things that come from the season that dominates our American holiday consciousness.  The time from Thanksgiving to New Years Day compromises of harmless pleasantries such as soothing music, pretty decorations, ugly sweaters and joyous children opening presents.   Who can oppose such things that make us get into the “Holiday Spirit”.  

And then there is the dark reflection of human ugliness and American greed that our consumer oriented society reinforces the other 10 months of the year that surfaces during the “joyous season”.  

 
Take for example Black Friday, the day after Thanksgiving.  Giant conglomerate retailers dangle juicy carrots in front of the Jones’ who, trying to keep up with their neighbors, believe that a 52 inch flat screen TV will give meaning and worth to their life.  This brainwashed desire of course leads to people waiting in lines for hours in frigid cold temperatures just to trample grandma or any other human being who dares gets in the way of us buying that MP3 player at half price for Johnny.  This charade is played out across all the malls and shopping centers and outlets in 21st century materialistic America.  

Meanwhile, the world is in a global recession that many economists compare with the Great Depression.  A recession that has produced domestic unemployment at over 10%, with many established companies going bankrupt (Chrysler & GM) or close to being insolvent (California).  

Yet, why isn’t there a paradigm shift within the social consensus for the common man to save more?  To spend less on things that aren’t absolutely necessary?  For things that actually provide a return on investment outside of prestige or image?   Are we not scared straight enough from the financial and economic meltdown of 2008 to pass on waiting in line for 4 hours to spend $600 on a purse at the Gucci outlet?  

Upon observation of the familiar pandemonium during the past holiday season, the answer unfortunately is a NO.  Yahoo reports that retail revenues for this holiday season will exceed that of last year where Americans were shocked into cutting back.  

I guess, one factor of the rebounding in holiday spending is that we are creatures of habit and just yearn to return to that lavish party earlier this decade that the cops broke up in 2007/2008.   I firmly believe that America has been over consuming goods and labor from the world far to much for far too long to the point we are spoiled and expect to just continue this lavish lifestyle.  Meanwhile, Americans are producing and manufacturing less and less.  

Furthermore,  the Hundreds of Billions that Government threw at Banks and Failed Companies to prop them up recently has given everyone here a false sense of security.  This has the psychological effect that all our over consumption and debt that WE accumulated this past decade has just been wiped out by all the cash the US Government just gets from the magic money tree.   Ahhhh the illusion of financial security.  Hey, let’s go shopping again!!!  

Just as Oshi Ren told the bride in Kill Bill: “You didn’t think it would be that easy, did you?”    So just where’s that money coming from?  Us taxpayers and eventually through the national deficits which will eventually have to be paid back.  Just picture your kids have to pay crippling taxes or all of our national assets have been sold to Chinese and Indian interests.   In a way, Americans are just following the lead of recent Government fiscal policy: Spend now, pay later.  
Logically, what needs to happen to shake the American consumer psyche from the desire for excess?   

Ultimately, this spending and PRINTING of money for bailout funds WILL lead to inflation where gas will cost $10/gallon and food will double in price.  Americans will look back on every dollar spent at Best Buy or Walmart to buy unnecessary crap and wish they could have it back to pay for food/gas/utilities.  In my opinion, that’s when the public will receive the reality check that the party is truly over and attitudes must change.  

For the sake of America and our generations to come, I hope that epiphany occurs sooner rather than later.  The day I see $200 Air Jordans sitting on a Foot Locker shelf with no buyer to be found will be the day we are stepping in the right and practical direction.  


Tri Phung

December 27th, 2009

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