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When 18-year-old Jon Angle set his sights on a ＄5,000 motorcycle last month, he was determined not to let a little thing like lack of funds stand in his, way. "My bank said they’d never loan me that sort of money, since I don’t really have any assets yet," the recent high school graduate from Littleton, Colo., recalls. Still, Angle was able to secure a loan from the Young Americans Bank in Denver, which caters to the under-22-year-old crowd and permits allowance to be listed as a source of income on loan application. Now, with a new Suzuki, Angle is setting aside most of the income from his ＄6.75-an-hour job at a local McDonald’s to pay off his debt.
At mails, movie theaters and even motorcycle dealerships around the country, teenagers like Jon Angle are behaving like the fiscal equivalent of the Energizer Bunny: They keep spending, and spending, and spending. Last year, 12-to-19-year-olds went on their biggest shopping spree ever, ringing up ＄
A. American young people are not allowed to get loans from the bank unless they have personal assets.
B. Adolescent consumption reached an unprecedented level last year.
C. Almost all American adolescents work on a part-time basis one time or another.
D. American adolescents find it hard to get by only with the allowances their parents give them.