How Does Consumer Spending Help the Economy? GDP, Aggregate Demand and Debt (2012)

Consumer debt can be defined as 'money, goods or services provided to an individual in lieu of payment.' Common forms of consumer credit include credit cards, store cards, motor (auto) finance, personal loans (installment loans), consumer lines of credit, retail loans (retail installment loans) and mortgages. This is a broad definition of consumer credit and corresponds with the Bank of England's definition of "Lending to individuals". Given the size and nature of the mortgage market, many observers classify mortgage lending as a separate category of personal borrowing, and consequently residential mortgages are excluded from some definitions of consumer credit - such as the one adopted by the Federal Reserve in the US.
The cost of credit is the additional amount, over and above the amount borrowed, that the borrower has to pay. It includes interest, arrangement fees and any other charges. Some costs are mandatory, required by the lender as an integral part of the credit agreement. Other costs, such as those for credit insurance, may be optional. The borrower chooses whether or not they are included as part of the agreement.
Interest and other charges are presented in a variety of different ways, but under many legislative regimes lenders are required to quote all mandatory charges in the form of an annual percentage rate (APR). The goal of the APR calculation is to promote 'truth in lending', to give potential borrowers a clear measure of the true cost of borrowing and to allow a comparison to be made between competing products. The APR is derived from the pattern of advances and repayments made during the agreement. Optional charges are not included in the APR calculation. So if there is a tick box on an application form asking if the consumer would like to take out payment insurance, then insurance costs will not be included in the APR calculation (Finlay 2009).

http://en.wikipedia.org/wiki/Consumer...

Consumerism is a social and economic order that encourages the purchase of goods and services in ever-greater amounts. Criticisms of consumption are already present in the works of Thorstein Veblen (1899). Veblen's subject of examination, the newly emergent middle class arising at the turn of the twentieth century, comes to full fruition by the end of the twentieth century through the process of globalization. In this sense, consumerism is usually considered a part of media culture.

The term "consumerism" has also been used to refer to something quite different called the consumerists movement, consumer protection or consumer activism, which seeks to protect and inform consumers by requiring such practices as honest packaging and advertising, product guarantees, and improved safety standards. In this sense it is a movement or a set of policies aimed at regulating the products, services, methods, and standards of manufacturers, sellers, and advertisers in the interests of the buyer.[2]
In economics, consumerism refers to economic policies placing emphasis on consumption. In an abstract sense, it is the consideration that the free choice of consumers should strongly orient the choice what is produced and how, therefore the economic organization of a society (compare producerism, especially in the British sense of the term).[3] Also this vote is not "one man, one voice", but "one dollar, one voice", which may or may not reflect the contribution of people to society.

http://en.wikipedia.org/wiki/Consumerism

Big Brother ~ Surveillance Inc.

What are the true goals of the surveillance state? Have we willingly surrendered the right of privacy? Where

is the revolt against the NSA and telecommunication companies? Is the government intimidating its citizens for their own safety? CrossTalking with Eugene Puryear, Michael O'Brien and TJ Walker.

Voodoo/ UFO Hunters - September 22 2013 - Coast to Coast Am - C2CAM Date: 09-22-2013

About the show:

In the first half of the program, George Knapp was joined by Dr. John Alexander, who discussed his recent trips to West Africa and Mongolia where he met shamans and observed voodoo rituals. He described voodoo more as a "way of life," rather than an organized religion, in these regions of the world. To that end, he noted that practitioners seek advice from voodoo priests on a variety of issues including medical insights as well as general life counseling. Alexander dismissed the Western characterization of the religion as sinister and argued that "the vast majority of the voodoo ceremonies are based on positive outcomes for the community."

Over the course of his appearance, Alexander detailed a number of voodoo rituals that he witnessed during his expedition, such as a fire ceremony which he described as amazing. Unlike the simple practice of briskly walking across red hot coals, he said, this ceremony featured participants who performed stunning feats like remaining unscathed while holding flaming logs as well as biting pieces of burning wood and safely keeping the fiery remnant in their mouth for over a minute. According to Alexander, knowledge of voodoo wisdom, such as how to perform these practices, is a closely guarded secret. The secrecy is so strict, he said, that while the head voodoo priest may be known to his village, the identities of his students remains a mystery until the priest reveals his successor shortly before his death.

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In the latter half, author Bill Birnes talked about his role on the defunct TV series UFO Hunters and what it's like to investigate the compelling and sometimes chilling evidence of UFO phenomena. He explained that the program differed from previous paranormal television shows because it aimed to examine all the possible explanations for key UFO events rather than simply highlighting a case and eschewing an investigation. Birnes recalled various 'behind the scenes' machinations which occurred during the creation of the program, including being told that "UFOs don't sell" by a TV executive and a legal battle over the name "UFO Hunters," which briefly saw two competing shows using the same title.

"If you think you're coming into a community and people are welcoming you with open arms, because you are investigating UFOs, sometimes it's exactly the opposite," he said about the challenges of producing UFO Hunters. He illustrated this point by noting difficulties they encountered while making the Maury Island episode of the show. In the early planning stages, Birnes said, they were rebuffed by angry investigators who closely guarded their own research and accused the program of trying to usurp their work. Additionally, during the on location taping the show, an irate resident of the area approached them, while wielding a handgun, and insisted that they leave the area. Although the crew convinced the man that they had the proper paperwork to film and he departed, Birnes recalled, "next thing you know, we're hearing gunshots and somebody says, 'this guy's shooting at us!'"