I wonder if perhaps the reason some frivolous spending is occurring is the fact that the majority of the population is reaching retirement age.

Don’t get me wrong I know most people piss away their incomes. Generation X in particular. Age wise I am on the edge of X and Y. I am a commercial loan officer and a lot of stuff comes across my desk. It is scary how many young couple who make 200-500k a year have so very little to show for it in terms of equity.

Hell any goods have some value. TV and vacations while of value can't be borrowed against.