Detailed text transcripts for TV channel - CNN - 20161127:05:13:00
>> consumerism definitely over in the '80s. people emerged from the '70s from tough economic times and went wow, we can now spend. >> i want you to think about this florentine plum also. that's what is going to set your eyes off. >> the economy started growing, and it was largely a consumer driven growth. but the consumer economy was funded by debt. >> the national bankruptcy rate is soaring. greg and diana, annual income, 3 -- $32,000. they had $12,000 unsecured debts, bought a washer, drier, and beta max tv recorder, then a home. then they went bankrupt. >> if you've got plastic money, there...