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Old Today, 07:54 AM
 
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Well, there are multiple aspects to "living standards".


For me, my standard of living is greatly enhanced by never having to worry about whether I will be able to pay my bills, or having to shuffle debts amongst various accounts. For that I am willing to give up pseudo-luxury items that are heavily advertised but which usuallly end up not living up to their billing anyway (giant house, leased luxury car that's less reliable than my old standby, "luxury vacations" that end up being the same old crowd of uninteresting people stuffed into a "luxury" destination and spending all their time in sport eating, etc.)


So I would not say that easy consumer credit, whether the pay-it-all-off-every-month variety or the run-all-the-cards-up-to-the-limit variety, has necessarily given the average American a better life overall. More stuff, yep, but better life? Probably not.
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