Steadfast FinancesThe Great Unwind: Frugality, DeLeveraging, & Ethics Altering the Post-Crisis Consumer

The Great Unwind: Frugality, DeLeveraging, & Ethics Altering the Post-Crisis Consumer

Filed in Consumer Education , Financial Crisis , Frugal Living , Public Awareness 4 comments

A fascinating talk on how 72% of the American Gross Domestic Product — consumers — are changing their spending behavior, relying on old school frugality tips to save more money, and deleveraging (e.g. saying goodbye to credit) to reduce their liability and financial risk. Mr. Gerzema compiles an enormous amount of personal finance data to support his thesis that consumers are shifting their purchasing behavior from mindless consumption to mindful consumption.

Perhaps more intriguing to me is his belief that crisis brings opportunity happens to parallel mine in that we should embrace the recession as a positive influence of change for global business, as well as individual responsibility.


[RSS & email subscribers please click to site for video]

Hat tip to John Gerzema from The Brand Bubble blog for the excellent talk.

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Posted by CJ   @   26 October 2009 4 comments
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4 Comments

Comments
Oct 26, 2009
11:41 pm

I don’t think we can ever count out the US consumer. As soon as the economy turns a little, we will consume to the MAX again.

I think it’s ok, it’s just the way our culture is. One big consumption orgy which will make a certain group of folks very wealthy if they can take advantage of us (Marketers, banks, any company that sells things!)

There’s no way the US consumer will ever change. We just need to accept the fact and join em, cuz we certainly can’t beat them.

FS

Mar 3, 2011
7:15 pm
#2 V.Wright :

I agree 100% that americans as soon as the recession truns around theyll go back to spenspendspend!!! but I would hope that some of us more enlightened individuals would remain vigilant in reusing items!!! like ecofreeks staff!!!!

Mar 3, 2011
7:49 pm
#3 Matt SF :

Here’s to hoping, but such a lofty ideal will be difficult when we have created a consumption based economy where there is no money in making anything that lasts.

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