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Is FOMO (Fear of Missing Out) Driving Up Consumer Debt?

``Consumer debt rose to $12.7 trillion in the first quarter of 2017. That is more debt than at the height of the credit bubble in 2008. A study by researchers at Dartmouth College and the University of Southern California shows that while the amount of debt is increasing, what consumers are spending the money on is very different. More people are buying experiences rather than things.
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