The Coming Collapse of the Middle Class

Distinguished law scholar Elizabeth Warren teaches contract law, bankruptcy, and commercial law at Harvard Law School. She is an outspoken critic of America's credit economy, which she has linked to the continuing rise in bankruptcy among the middle-class. Series: "UC Berkeley Graduate Council Lectures" [6/2007] [Public Affairs] [Business] [Show ID: 12620]

The American dream...

If you think things have changed for American families in the last 30 to 40 years, you're right.

Saving rates have gone from nearly 10% to less than zero.

Fixed costs like housing and medical care have skyrocketed.

Income volatility has exploded as job security has imploded.

One sign of the times is that Americans are going  bankrupt in record numbers.

But the full story is bleaker than even these numbers reveal.



Forwarded by Brasschecktv.com


Prayers

Dan


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