Young people living a lavish lifestyle on credit card debt | 60 Minutes Australia

[seadoug]

Same here in the US. Very troubling.

 

[LadyEmeraude]

Yes, easy credit and credit cards, easy come,
easy go, they might be in for future surprises eh...

 

[palides2021]

Same here in the US. Very troubling.

This was a good video about debt being a way of life. I noticed most of the people he interviewed were young women. This was also taken in Australia. My sisters daughters both work in Australia and have savings. They are in this age group. So it's not as rampant as it seems.

 

[Lavinia]

This is exactly the attitude many politicians have...live for now and let the next generation pay the price.

 

[Been There]

U.S. Credit Card Debt is $1.224 trillion
U.S. Student Loan Debt is $1.8 trillion

Debt Clock

 

[Sippican]

They will get bailed out by taxpayers in exchange for their votes

 

[hollydolly]

Same here.. ridiculous. !

 

[Pepper]

People want to be happy. NOW.

 

[davey]

so what happened to all that parental training on a daily basis perhaps to teach our kids thrift ; care ; and savings?

 

[Fyrefox]

I’m reminded of a LendingTree commercial where a middle-aged guy living in a palatial home with all the trappings of “the good life” confessed to being in debt up to his eyeballs, and ended the promo by saying, “somebody help me!”

Materialistic idolatry and the cult of immediate gratification are widespread and real. There are many who want “the best,” and won’t settle for less. The chickens of crushing debt eventually come home to roost…

 

[hawkdon]

WOW!!!!!

 

[oldaunt]

so what happened to all that parental training on a daily basis perhaps to teach our kids thrift ; care ; and savings?

There wasn't any. They were raised by electronic devices.