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THE PSYCHOLOGY OF MONEY - Commented Book

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CHAPTER

The Big Stretch

Rising incomes among a small group of Americans led to that group breaking away in lifestyle. They bought bigger homes, nicer cars, went to expensive schools and took fancy vacations. A culture of equality and togetherness morphs into a keeping up with the Jones's effect. The average car loan adjusted for inflation more than doubled between 1975 and 2003.

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