Yes

Our possessions define who we are. That is what the advertisers want you to think and to a certain extent it is true. I've seen two car commercials which ridicule people who use excuses to buy luxury items and then they proceed to sell their new luxury item! Are we so asleep that we fall for that?! How did we get to this point? Back in the 1950's, the US had emerged from World War Two as the only major power to be virtually unscathed. It had spent the war years using it's huge manufacturing capacity to outproduce the axis powers, and now it was time to embrace consumption. In the 1950's, marketing was relatively simple. There was a prevailing attitude of conformity, and people were hungry for consumer goods in this time of prosperity. As the 1960's arrived, young people in particular wanted to express their individuality, and for a while, marketing became a much tougher challenge. Eventually, though, it became clear that the consumer could simply buy their individuality! Pretty soon, everything was for sale.
The cigarettes you smoked and the car you drove supposedly told everyone what kind of a person you were, based on the image portrayed in advertising. Since then, advertisers have become masters of "creating the need", and we have become consumers, first and formost. In our search for individuality, we have skipped introspection and bought our images off the shelf. Our pile of products usually fails to fill the void, and some people even end up in a cycle of depression and spending.
When we think of consumerism, we probably think of gadgets and cars, but we also spend millions of dollars each year trying to keep up with the neighbours. Hopefully these tough times will give us an opportunity to reflect on what really matters to us, and maybe we won't be so easily persuaded by the advertisers. For example, every year we fertilize our lawns, irrigate with sprinklers, spray the weeds and bugs, and of course cut the grass every week - all so that we can have the perfect lawn. The commercials help to give us something to aspire to. Let's break that down. Our fertilizer makes the grass grow faster, so we have to trim more often (with a shiny new ride-on mower, no doubt). The pesticides often kill more than the aphids, and runoff from pesticides and fertilizers poison rivers and probably our own drinking water. All that can be expensive, too. Is there an alternative? There sure is!
If we can break the advertising spell while money is scarce, maybe we can begin to really think for ourselves again.