Following is an observation posted by Glockenspieler on the Motley Fool:

I have noticed a new trend in the mainstream media over the past two weeks: a focus on household debt reduction.

One of the radio stations I listen to while driving used to have those “refinance your house, pay off your credit cards, and buy a boat while your at it!” ads. I haven’t heard those ads for a while, but the other day on the same station, I heard a new one, this time peddling a cassette or CD by some debt-reduction guru. I find the timing interesting.

I’m also seeing significantly more “how to get out of debt” advice by journalists, and also read in one of those end-of-the-year “in vs. out” lists that having credit card debt is “out”.

The above post prompted me to look up something that I have been hearing on the radio now for at least 3 weeks.

Here is the program I have been hearing about: “Your Debts Can Make You Rich”.

Of course that headline is a total sham. I believe he means “How Your Debt Can Make HIM Rich” unless of course everyone sends away for a free CD and throws it away.

Mr. Cummuta has a corresponding book called Turn Your Debt Into Wealth .

The reviews on Amazon show that the title is more than a stretch (which of course anyone in their right mind knew already) and the program is really advice on how to pay off your debt and living below your means not how to turn debt into wealth. Living below ones means is generally sound advice given that living above ones means is one of the ways people get deep into debt in the first place.

Here is yet another link on his system where you can also play all three of the radio ads I have been hearing.

Putting everything together I am pretty confident the following sums up his entire system in three easy steps as follows:
1) Pay off your debts
2) Live below your means
3) Dollar cost average into the stock market

The first two are nothing more than just plain common sense ways to get out of debt and stay there. The third point only works over extremely long periods of time and is by no means a given. Proof of that is the Japanese stock market that fell from 40,000 to 8000 over approximately 14 years. Anyone dollar cost averaging into that might need 25 years or more just to break even. Regardless of what financial planners might say, there is simply no reason the US stock markets can’t follow the same path.

Is anyone else hearing these ads and/or noticing new trends away from consumption?
If so is it a sign we are finally ready to usher in a wave paying down debt instead of spending? We will know about Christmas spending soon enough. Consumer credit trends over the next few months may be equally telling.

Mike Shedlock / Mish/