Comment by thisislife2
1 day ago
If everyone was as rational as you, Americans wouldn't be living in debt that most cannot afford. Most Indians have a healthy fear of debt, and that is why the iPhone doesn't have a larger share of the mobile phone market here as it really is unaffordable to most Indians (as it is for many in America). Americans however have accepted debt as a normal part of their lifestyle. When a rich man says poor people shouldn't be ordering food through Door Dash, it sounds very cynical but there is a basis of truth in it that some poor people really do not know how to manage their finances.
This is not why Americans are in debt. If you really think this you understand so little.
That rich man was born into wealth, so he has no concept of the lives of poor people.
I wasn't making a general statement on the American poor (poverty and debt can turn into a vicious cycle, sometimes one has no choice but to borrow and there are complex political factors at play too that is driving American poverty), and only on what we are discussing - Poor Americans who don't mind getting into debt to buy an iPhone (or some other luxury item) even when affordable alternatives are available. You can't really disagree with me that it is poor financial judgement to give into your wants over your actual practical needs, when you can't afford to do so.