Consumption is not an investment and do you prefer a nation of consumers and borrowers with a weak economy or a nation of producers and savers?
Saving didn't hold the States of becoming the first economy; going into debt to consume will make them fall of the most wanted first place
Prefer the latter; the USA was the latter, enjoyed many liberties, low taxes and small government and that is what made this nation so great; now they have consumers, debts, unfunded liabilities and they produce less and less; it will only be justice when the hard workers and savers of this world like chinese will enjoy wealth, consumption and a strong currency
This doesn't have to do with preference or what's better in the long run. I, too, would prefer a more stable system that's full of producers and savers. But the fact is that credit and consumption drive economic growth faster and "easier"--they are shortcuts to greater wealth. And with today's prevalent instant gratification attitude, that's the path most people pick. It's a lot easier to take out a loan and get that shiny new car now than it is to work hard, save for it, and pay cash later.