Found an interesting link to a MSN article this morning that chronicles recent lottery winners. When I see "Filing for Bankruptcy" listed as the answer to a "Last Seen:" tag, I always wonder what series of unforeseen events brought them to that point. Do brand new millionaires get caught up in trying to keep up with multi-millionaires? Does the "keeping up with the Joneses" syndrome affect the nouveau riche more than old money, or the middle class in general?
When listening to the media discuss average American debt, one has to wonder if the current economical times have forced people to use credit cards for everyday items like groceries and gas, or flat screen TVs and blu ray players.
Is the marketing juggernaut that is American advertising so advanced and persuasive, that once a product is labeled New and Improved, given commercial spots during our favorite TV shows and sporting events, we enter into a hypnotic spending trance? Looking at the number of our friends with ipads, ipods, Droids, Kindles, Garmins, etc, it's not hard to imagine how replacing these items every year or so becomes the norm. And it's easy to see how quickly one's disposable income is depleted through this cycle.
Anyway, check out the link here:
Lottery Winners or Losers