Greenspan advised the American people to buy - he repeated the old mantra: 'spending is patriotic'. He also managed to convince them that if they did not have the money, that shouldn't stop them. They would 'pay later'. To a certain extent he was correct, we are all having to 'pay later'... we may even never stop paying.
Gilad Atzmon, The Wandering Who? A Study of Jewish Identity Politics
economics