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The Shrinking Middle Class

Written By Brian Hicks

Posted November 18, 2009



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

Related Articles:

Elizabeth Warren Warns on Toxic Assets

Strategic Defaults: 588,000 Borrowers Say “Ciao Baby”

The Madness of Extending the Home Buyer Tax Credit

There Is No Free Market in America


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