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 ...
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