Why have we become debt junkies?

[Loosehead]

http://news.sky.com/skynews/article/0,,30000-1 3544448,00.html
I can remember as a child, that debt was bad, something to be avoided. Even now when I pay with a credit card I feel like I'm somehow being naughty even though I pay it off when there's a balance. So what happenned to make debt ok? Has society become a bunch of "have it now" spoilt brats? I can remember saving up for my first bike, worked all summer in a butchers shop, I bought it, it was mine, I took care of it. I just feel sorry for so many youngsters today who will bever have that feeling. I think we all accept that a mortgage is necessary but I for one think that is generally the only justifyable debt. What do you think?

[LazyGun]

People have been buying stuff on the "never never" or "on tic" for ages though, and I think the credit card is seen as the modern day version of that.

Couple that with what I think many people do, which is to look at their credit limit, and assume that the limit is somehow "their" money, a reluctance of a lot of people to check their bills, and I can see why a lot of folks do abuse them, particularly in this consumer orientated, advertising heaven that is modern society today.

In the main, any debt you have must be down to you as an individual... although I do think the financial institutions have to take a small degree of responsibility for making credit available far too easily. They will quite readily automatically increase the spending limit for instance.