Stopped reading after that. This guy has a very loose understanding of what real people's lives are like. Throw Occam's razor out the window - the reason people own less stuff is not because they might have less money - no its because "society" has changed its "values" or some other air-headed notion ppl who live in airconditioned offices dream up.
The reason Americans own less stuff is because for 80%+ of the population wages haven't seen an increase in 3 decades and are up to their eyeballs in debt. "But GDP is so high!" - but nothing. What matters is the money that average people take home and for that they havent seen their income rise but they have seen the cost of education and healthcare go through the roof. If you're the kind of person who thinks like this guy you're probably in the camp who thinks Trump got elected because "Far-Right Racists/Russian Hacking /The Patriarchy"
Sorry for the rant. I get an Inspector Dreyfus twitch when I read this sort of stuff by supposed 'smart' people