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Consuming our Independence away

Photo by Khalid Almasoud via FlickrA concept raised by former investment banker Gerald Hoerhan is the notion of "dumb" consumption. Consumer goods are losing most of their value the moment we purchase them. The most expensive drive of a lifetime is the very first trip in a new car, because it's going to be worth 30% less the moment you leave the dealership. A 30 year home mortgage basically takes away the freedom to say "no" to the boss. Many consumers are hardwired to spend just a little more than they can afford, the mortgage or the leased car that is slightly to big for the budget. Once falling into consumer debt they are basically ripe for all kinds of rip-offs because people consumed away their independence. An interesting argument in favor of a simpler life - or at least for buying used cars and renting a home. 

Reader Comments (1)

Great thoughts on consumerism. We very easily become slaves to the things that we thought would make us happy. And not only are we "consuming away our independence," but we are also so debt laden that it is almost impossible to be generous (a scientifically proven way to release endorphins and experience happiness - So, excessive consumerism hurts us mentally, emotionally, physically and spiritually.

Thanks for the article!


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