[hammmatt]

I agree with you that given the percentage changes in the way we view money, there has to be massive social change in thought.

I also agree that people filter what the news tells them.

However, I disagree that the two are related. I don't believe the news media causes people to spend more because they aren't having some sort satisfaction.

Other causes seem more likely to me.

1) People believe that their income will continually increase over their lifetime.

2) The increase in the number of advertisements over the last 50 years.

3)People have an accustomed lifestyle, but are making less money. Therefore, instead of cutting back they go into a little bit of debt. Which becomes alot of debt.

And of course, all of the above. 3)