Shopping Trends & Credit Ahead of 1989 Budget

The video discusses the end of a consumer spending boom, leading to a debt crisis fueled by easy credit access. Personal stories highlight the struggles of managing debt. The video explores the ease of obtaining credit and the reduction of consumer advice centers. It concludes with the conflict between government efforts to curb spending and retailers' desire to boost sales.

What was a significant consequence of the consumer spending boom?

• Increased savings among consumers

• A debt crisis due to high credit usage

• A rise in employment rates

• A decrease in retail sales

How did Jean Waller fall into a personal debt crisis?

• By taking a vacation

• By purchasing a new car

• By using a credit card for children's clothes

• By investing in the stock market

What did Bursty Stewart discover about obtaining credit cards?

• It was a lengthy and difficult process

• It required a high credit score

• It was surprisingly easy and quick

• It was only possible for business owners

What has happened to consumer advice centers in recent years?

• They have become more accessible

• They have been reduced despite rising credit problems

• They have increased in number

• They have remained the same

What is the government's challenge regarding consumer spending?

• To increase interest rates

• To eliminate credit cards

• To reduce spending without harming retailers

• To encourage more spending