What happens when we run out of land to sell, bonds to issue, dollars to print, and companies for foreigners to acquire? The difference between what Americans think they deserve and what they will be soon able to afford may be affected by this general attitude of consumer first, country second.
Its seems that most American consumers do not consider the impact (beyond their own wallet and personal gratification) in choosing between foreign and domestic cars, gasoline, or foreign produced electronics, clothes, and other goods. They seem to believe they deserve the best price, features, warranty, and service. There appears to be little loyalty to brands or country, only to their own perception of quality and value.
This has been driven successfully for 70 years (following the great depression) thus far by the American free-market consumption model, which has led to tremendous innovation, choice, and low prices.
However, it wasn't consumerism that led to American buying power, it was American global dominance of key industries that produced goods in demand by the entire world.
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