The average American is bombarded with messages of consumerism throughout the day. A recent study by ADWEEK indicated that the average American is exposed to over 70 minutes of commercial/promotional content on TV alone every day – that’s over 7% of our waking time each day! It doesn’t even include messages from radio, the Internet and print media. These messages have initiated a massive transfer of wealth and liberty out of the hands of individuals and into the control of Institutions.
A 2008 YouTube video titled “Please Buy More Stuff” provides a commentary on these messages.
Have you caught Affluenza?
This onslaught leads to a condition that has been coined “Affluenza” – Af-flu-en-za n. 1. The bloated, sluggish and unfulfilled feeling that results from efforts to keep up with the Joneses. 2. An epidemic of stress, overwork, waste and indebtedness caused by dogged pursuit of the American Dream. 3. An unsustainable addiction to economic growth for its own sake.
How did we get infected with Affluenza? From stories. Stories told to us by the Institutions that control our economy. First Corporate America teamed up with Madison Avenue to convince us that if we just buy more stuff then we can have the “Good Life” and be much happier. Truth is, most of us already have more junk than we’ll ever need, but we still can’t seem to be happy.
Don’t have the money right now to buy everything? No problem…the Wall Street wizards can help you put it on a payment. Need a little more cash, Wall Street to the rescue again. Presto, your house is an ATM. Need an investment for your retirement, they can tie all those loans up in a bow and sell them right back to you, trading you the risk for a fee. If you lose money on your bet, no worries, our friends on Capital Hill may even let you write it off your taxes. (Reality Check - Since when is losing money ever a good thing!!)
A Dirty Little Secret
Here’s the dirty little secret…the stories have never been true! Each day, scores of people are forced to give up more and more of the only finite resource they have – their time – just to finance these empty images of success. Corporate America is happy for you to spend more time at the office so you can keep making the payments – that is until they can find someone to do your job for less.
What falls by the wayside? How about all of the things that would actually provide fulfillment and happiness – like time spent with family and friends or time pursuing our passions and interests.
These stories have also led to a massive transfer of wealth. For $29.99 a month you can own just about anything, and it will cost you multiples of the original value by the time you pay it off. All of that additional money could have been used to build lasting wealth for your children, or to provide food and clean water to starving children anywhere in the world.
It’s not just our money these stories have stolen. They have also forced us to surrender our personal freedoms and individual liberties to Corporate America, Government and other Institutions, just so we can be able to keep paying the piper. The Founders recognized in their own time. Many of the wealthiest of them had been made servants to British commercial empire that controlled the flow of goods and money to and from the colonies. Some would die in debt trying to play catch up (including Thomas Jefferson, who died with debt that would be valued between $1MM and $2MM today). Others, like George Washington, changed the game by establishing his own Personal Economy that wasn’t controlled by British interests.
“Among These Are Life, Liberty And The Pursuit Of Happiness”
It is time to take a page from Washington’s playbook. The Internet has created a platform for individual commerce that is unique in human history. Make it the cornerstone of your Personal Economy. Leverage this platform to start a business grounded in your passions. Use the income to remove yourself from the indentured servitude of the Institutional Economy. Create a legacy of wealth that you control to insure your freedom and that of your children and grandchildren. Position yourself to benefit from the global transfer of wealth that is accelerating, or find yourself forever on the outside looking in.
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February 22nd, 2010 at 3:29 pm
Chip that was an awesome post and that last paragraph is right on.
Take control of YOU and your future and the world is your oyster.
Thank you for sharing this. Fabulous work.
Laura Reeves´s last blog ..Face Your Fears and Step Out of Your Comfort Zone
February 23rd, 2010 at 10:30 pm
Agree with you 110% on this post Chip! We all need to position ourselves to ride the current Internet wave and the transfer of wealth that’s occurring!
Eddie Espiritu´s last blog ..Work from Home Dad – How to Choose a Home Business
February 23rd, 2010 at 11:45 pm
Chip, Here’s a message that can not be repeated too often! Your concept of paying $29.99 per month for anything that you want, but actually paying for it many times over is sadly very accurate. Why don’t more people realize this?
And our government is the worst example to follow. What kind of legacy are we leaving for our children?
I like how you wove the historical examples of Washington and Jefferson into your explanation. As a student of history I knew that Jefferson had died in debt, but I didn’t realize that he was in massive debt.
I’ve watched how an 84-year-old who is quite well off save her money. The small things make a huge difference. The dollar stores are becoming a lot more attractive!
Thanks for sharing this powerful historical perspective.
Darlene Davis´s last blog ..Mother Teresa & The Taxi Cab Driver
February 24th, 2010 at 4:15 pm
Wow Chip! I’m blown away by the great information on your website! This blog post was right on! Fortunately both my husband and I grew up with parents that taught us to live within our means. BUT…we didn’t have all of the pressures on us as kids that our kids have today. Shows like “My Super Sweet Sixteen” and “The Real Housewives of…(insert location here)” show people living large. It all seems so wasteful to me! I’d rather have an “experience” than a $1,000 purse!
February 26th, 2010 at 5:07 am
Hi Chip,
Thanks for this extremely perceptive and timely piece of great writing about
an issue that is affecting us all in powerful and lasting ways. If only all Americans
would take your advice and reclaim our/their financial independence. It’s time to
put the power back into the hands of individuals and out of the hands of the big,
greedy corporations. I’m glad to be on the same team with you!
xo Buff
buff´s last blog ..Avatar and The Power Of The Word
March 25th, 2010 at 12:54 am
Chip is absolutely right. We must take personal responsibility for ourselves and family as well as our community by, if possible assisting others with a hand up, rather than a hand out. Our freedom depends on it.
According to the latest Social Security Administration1 statistics, over 95% of older Americans rely on Social Security for more than half of their income. For 20% Social Security is the only income they have.
What would life be like for you if you took a 50% pay cut? If over 95% of retired Americans get more than half of their income from Government, aren’t they dependent? Chip has the answer and has given wise counsel.