O'Reilly logo

America, Welcome to the Poorhouse: What You Must Do to Protect Your Financial Future and the Reform We Need by Jane White

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 10The Fix: How to Get Out of Credit Card Debtor’s Prison

One of the few recently published books that addresses how Americans have been spending way too much for stuff is Trading Up: The New American Luxury, by Michael J. Silverstein and Neil Fiske. Unfortunately, besides the fact that its authors celebrate a trend that is self-destructive, the examples they offer are often downright laughable. Let me quote:

“Perhaps the most startling traders-up we talked with were a group of consumers who were ecstatic about a product category that most people would like to forget—a washer-dryer combination...[that sold for] $2,000, compared to about $600 for a conventional washer-dryer combination. Believe it or not, consumers made the following ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required