The Shrinking Middle Class

Tales From the Rat Wheel

By Steve Christ
Wednesday, November 18th, 2009

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I must admit there are nights when I find myself staring at the ceiling, wondering what happened. Everything used to be so different.

Most of time, I just shrug this off as old age.

But thirty years beyond my youth, I sometimes suspect that all we have earned ourselves is a place on the rat wheel—and it's spinning out of control.

If you doubt that, then you absolutely must watch this lecture given a couple of years ago by Elizabeth Warren.

Yes it is long... but it does explain the pressures faced by the shrinking Middle Class—-pressures that didn't exist back in the 1970's. You can ignore it if you like but you do so at your own peril.

Needless to say, this will be a vastly different country as the middle class recedes.



Besides, the fact is you may just recognize some of the people she's talking about.

It's an eye-opening look at what we've become by a very smart lady.

By the way, a few years later that insightful lecturer became the chair of the Congressional Oversight Panel created to oversee the bank bailout.

Not long ago she warned that "we have a real problem coming..." in regards to toxic assets.

To hear more from Elizabeth Warren click here

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Comments:

Comment by Mark on 2010-09-22
It has been long known that so goes a countries middle class goes the country. It is like a pyrimid, it will collapse without a middle, The middle supports the top, and it may go even further that the bottem supports the middle, however I think the middle always supported the bottom too, That was one long ass boring piece of video, but she understands the problem. Steve Christ thanks for the article, however you should have just written a condenced version of what she said, I'll bet I was one of a very few that watched it.
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