The chief culprit of uncontrolled consumption is following the fashion, being too competitive and loving face. Uncontrolled consumption will make ends meet, which will cause family financial difficulties and bring great pressure to parents. It is also easy to form the wind of comparison, blind consumption, leading to waste of resources. You can't restrain yourself, you can't deeply understand the connotation of thrift, and it doesn't conform to the fashion of practicing economy and opposing extravagance and waste.
Uncontrolled consumption is caused by the optimistic expectation of borrowers, which leads to an increase in credit demand, optimism of credit institutions, irrational growth of optimism, unbalanced debt structure of borrowers, and insolvency leading to industry crisis. The credit card crisis in South Korea, Japan, Europe and America has been summarized by analysts, and the evolution process is roughly similar.
Macro-factors of consumption out of control
In the financial industry where consumption is out of control, there are countless studies on economic history and economic cycle, and the studies on financial crisis and debt crisis are also alarming. The fact is that crises always happen again and again, and the underlying causes of each crisis seem to be similar. Nothing more than high-speed growth brings optimism, optimism brings irrational growth, irrational growth breaks internal equilibrium and forces it to return to equilibrium in the form of crisis.