Maybe not fraud, but phony. Living large on borrowed money is the new American way. And the only people benefitting have been the people selling the toys.
Buy and sell someone? Maybe, with borrowed money.
It's funny- I have a couple employees who live in more expensive houses than mine. They're knee-deep in "stuff". Every nickle of it is borrowed. Fortunately for them, they work for someone who's fiscally responsible to the point of paranoia. I was looking for economic downturn at the peak of the economy. I made sure that no matter how bad it got, I wasn't going to be the one who got hurt. They are fortunate enough to be along for the ride. But, that's also why my name is on their paycheck.