I have one DGS and I have, with the agreement of his parents, invested money for him every month since he was born - v early this year. I bought him a small Christmas present - of which we will be completely unaware this year, and will continue to this for birthdays and Christmas in the years to come. He has - and will continue to have, more than enough of anything this world has to offer, and if, when he is older, he questions the level of presents I give him, I hope I can deal with it. (BTW the money markets are going his little nest-egg might just buy him a pint when he reaches 18!).
Yesterday we were at a party at my partner's DD's house at which several young children opened their presents from the extended family. It was a frenzy of grab, rip, tear, discard and move on. All of these presents had been on the children's wish-lists; web-links are circulated weeks before and they all got everything they had asked for. But they had no idea who each present was from - gift labels were irrelevant. One mother was in despair about thank you letters - clearly, vague generic letters would have to be sent. It was horrible. Far far too much conspicuous consumption and absolutely no chance of teaching the children decent values about manners and gratitude.
Christmas giving has gone too far. I'm not advocating a return to the satsuma and a
piece of coal days but I think enough is enough.
And I also think the OP's son should be impaled on top of the Christmas tree and force-fed a mixture of sprouts and New Berry Fruits.