What do Americans spend their money on you ask?
24/7 Wall St. reviewed how Americans spend(waste?) money. One of the conclusions of this analysis is that consumer spending is relatively alive and well, despite the recession. This may mean that Americans continue to be over-leveraged. I know Canadians certainly are. We Canucks have about 150.00$ of debt for every 100.00$ of income. Not a good statistic.
US citizens have, in general, brought down their indebtedness. However, holiday spending rose substantially from last year, and the extent to which Americans feel poor has declined now that the recession has ended. Americans spend about 15% of their household incomes on things that they do not need to satisfy their vices or to keep themselves amused.
They examined the changes in spending patterns over the course of one generation–20 years. Americans have certainly not cut back on vices because of the recent difficult…
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