Monday, October 17, 2011

The threat to the middle classes (US)

Below is a lecture by Elizabeth Warren, Harvard Law School - and I think a Democrat , in 2008 on the collapse of the middle classes in the US. Its about an hour I'm afraid. However if you have the time its well worth watching.

Note this is before the full impact of the debt crisis has hit. Whilst things may be different in the UK in some respects I suspect there's a similar story here also.

This is going to be a source of not inconsiderable trouble.


Wildgoose said...


Very scary.

And yes, you can see it here as well.

James Higham said...

Yes, it is coming and we can't stop them above from inducing it.

Wildgoose said...

And here's even more bad news.

Man in a Shed said...

@Wildgoose Your right that's part of the nightmare.

"Project Armageddon was established
to examine the possibility that both
sides’ warnings are correct but that
neither side’s prescriptions will work."

I have long thought the problem was debt, and that the public won't support the necessary action until a real disaster has been experienced for at least ten years.