Implosion in the Empire

Abstract

Consumerism, the trap of credit and financial greed have led to the collapse of the system. It is a huge financial crisis, with its epicenter in the U.S. but worldwide consequences. Credit is a trap because it is a phenomenon by which encourages people to anticipate consumption through borrowing. The highest consumption growth generates the real economy, and then people can increase their income and better manage their expenses and debts. This increase is always smaller than the credit and the famous bubbles are generated.