by Peter Schiff, Schiff Gold:

In a disturbing (but unsurprising) trend, more than 1 out of 4 US consumers are throwing in the towel with defeatist “Doom Spending” sprees — despite already being saddled with crippling levels of debt. This behavior is akin to someone who, feeling overwhelmed, indulges excessively in a habit they know isn’t beneficial. In a similar vein, these Americans, perhaps feeling a sense of despair, are accumulating unprecedented levels of new debt through spending sprees that are beyond their financial means.