Going Broke: Why Americans Can't Hold on to Their Money

Going Broke Why Americans Can t Hold on to Their Money Over the last three decades debt bankruptcy and home foreclosures have risen to epidemic levels To make matters worse the personal savings rate is at its lowest point since the Great Depression Wh

  • Title: Going Broke: Why Americans Can't Hold on to Their Money
  • Author: Stuart A. Vyse
  • ISBN: 9780195306996
  • Page: 126
  • Format: Hardcover
  • Over the last three decades, debt, bankruptcy, and home foreclosures have risen to epidemic levels To make matters worse, the personal savings rate is at its lowest point since the Great Depression Why, in the richest nation on earth, can t Americans hold on to our money Winner of the prestigious William James Book Award for Believing in Magic and an authority on irratiOver the last three decades, debt, bankruptcy, and home foreclosures have risen to epidemic levels To make matters worse, the personal savings rate is at its lowest point since the Great Depression Why, in the richest nation on earth, can t Americans hold on to our money Winner of the prestigious William James Book Award for Believing in Magic and an authority on irrational behavior, Stuart Vyse offers a unique psychological perspective on the financial behavior of the many Americans today who find they cannot make ends meet, illuminating the causes of our wildly self destructive spending habits But unlike other authors, he doesn t entirely blame the victim Bringing together fascinating studies of consumer behavior, he argues that the mountain of debt burying so many of us is the inevitable byproduct of America s turbo charged economy and, in particular, of social and technological trends that undermine our self control Going Broke illuminates everything from the rise of the credit card, to the increase in state lotteries and casino gambling, to the expansion of new shopping opportunities provided by toll free numbers, home shopping networks, big box stores, and the Internet, revealing how vast changes in American society over the last 30 years have greatly complicated our relationship with money Vyse concludes both with personal advice for the individual who wants to achieve greater financial stability and with pointed recommendations for economic and social change that will help promote the financial health of all Americans Engagingly written, with startling insights into modern consumerism and with poignant human interest stories of people facing financial failure, Going Broke offers a provocative new perspective on American economic behavior that is likely to stir controversy and serious debate.

    One thought on “Going Broke: Why Americans Can't Hold on to Their Money”

    1. Stuart Vyse sets out to determine how so many wealthy people end up being poor, or at least bankrupt. For Vyse, easy credit is the problem, and our well-oiled free market economy works too well, consuming the very consumers it is fueled by. A behavioral economist and psychologist by training, Vyse explores the physics of buying. He shows how in the last thirty years the free markets have removed most of the barriers that used to inhibit our purchasing, with the result that by 2006 as a nation we [...]

    2. Интересно прочитать про типичную ситуацию с финансами у среднего класса, а также как на это накладывается обычное американское "лузер сам виноват" и "всем надо говорить, что ты ок". Описано немало психологических экспериментов, связанных с принятием "потребительских решен [...]

    3. This actually is a lot more interesting than it soundsAccording to the author our profligate ways are not ENTIRELY our own fault. Modern society makes it much too easy to spend money. availability of more objects of desire, more advertising in media that didn't exist in our grandparent's day generating desire for the objects, greater ease in accessing the desired objects (we no longer have to get dressed and go to the mall, we can shop online!) and the ubiquitous credit cards that mean we don't [...]

    4. Going Broke is an incredibly detailed book not only of how individuals got themselves into debt, but how we, as a country, fell into the abyss.It is not just a book about 'revolving' credit, but also about our own 'evolving' lifestyles. Even the invention of the first rickety, wheeled grocery shopping basket led to customers buying more items.Plastic money may not be real, but the debt it creates sure is.Some of the case histories are understandable, some are bad luck, most appear "good people." [...]

    5. Good analysis of modern America's dysfunctional relationship with money, although the experience of reading it was somewhat stressful and depressing. It just really seems like we are on a road to a much less pleasant and easygoing society than we're used to. (Then again, I've always felt that way).

    6. We're consuming more because it's physically easier to do so: internet, ground level shopping centers, bigger shopping carts, etc and we have access to more capital to purchase goods, i.e our cards of credit. So many great ideas in here that explain so much - highly recommended.

    7. I got to page 27 of this book, and then my eyes started to glaze over. Definitely read more like a text book. A few interesting nuggets in there… I probably read 2/3 of it hitting topics that were more interesting to me.

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