A term that emerged after 2000, meaning that private households – especially in the USA and the UK – have bought consumer goods in quantity without actually being able to pay for them. They are “over-shopped” in the jargon. This is because savings deposits were not available, and many goods were purchased by taking on debt. However, it falls short (it does not go far enough) to attribute this development to the emergence and proliferation of cards alone, as is often done. – See deflation, ugly, decapitalization, financial market stress, financial distress, jingle mail, credit card fiasco, luxury consumption, mark-to-model approach, ninja loans, panic selling, pay-green initiative, phthisis, debt sustainability, subprime crisis, scenarios, exceptional, excess demand, economy-wide, over-indebtedness.
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