The Coming Collapse of the Middle Class

This video is fascinating. Elizabeth Warren does a fantastic job explaining how the American economy has shifted over the last thirty or years or so. She also goes a little further into the situation to explain social aspects as in added family pressures and the fallout from these changes.

The picture she paints is a bleak one, still it is an important topic and it contains information that all Americans need to know because it will effect us all!

"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 Coming Collapse of the Middle Class

Other viewers comments this week.
(These comments were made to YouTube by YouTube users, not to me.)

wulfgang66 (1 day ago)

A compelling and interesting speaker. Wish they'd let me into Harvard to hear more of her :)

This is frightening data people. America, sans middle-class, will look nothing like the America we know.

French revolution anyone? I say we head over to Washington and throw the rats out. Then, to NY to reclaim the $7T of our money the Fed has loaned out without anyone's permission.

Any takers or are you too busy with your Doritos and Coke/Budweiser to be bothered?

ZuluDawn99 (2 days ago)

I think she is hot <--- off topic but at least he watched it, LOL

agonostical (2 days ago)

Wonderful. Frightening. BTW, same in the UK.

CosmicFork (3 days ago)

Our society is shaped by the economic system into a steep pyramid, with a few excessively privileged and powerful people at the top and a huge vertical drop to the bottom where people lead lives of deprivation and desperation. This shape is in contrast to the expectation after World War II, that America would become a country with a large and prosperous middle class and no extreme contrasts between rich and poor. This extreme inequality destroys community and threatens our society.

louis12346 (6 days ago)

Save Money Become a Democrate Never pay Taxes again,those that hate Obama & Global holocaust Warming Deniers, anti Gov. types,Rahm Emanuel said ( choose barracks he he or Train cars whatcha worried about? )

JayKeaton (2 days ago)

Why save money? Money isn't actually worth anything but what we think it is worth, a bit like the stock market.

louis12346 (1 day ago)

Obamas stimulus plan together with the second half of the TARP will deliver a shot in the arm to our economy that will be both brief and shallow, sending us careening on our way to hyperinflation..The stimulus package the U.S. Congress is completing would raise the governments commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nations home mortgages.

wwwmskim (1 week ago)

This is CRASY! This is why financial crisis happened!!!

imperialcrypt (1 week ago)

You make an interesting point about the inflation moving the jobs overseas. To exacerbate this vicious cycle we now to keep inflating the currency to keep imports coming in.

Rustyshackleford08 (1 week ago)

thats right, and if we could have a limited currency system that was under control we couldn't do these wars without taxing people for it like WW2, it was the secret spending on vietnam that really kicked this whole thing off and forced us all off the gold standard (bretton woods). Now we made such a mess I don't know how we can get out of this cycle without a depression. Depression are horrible but necessary to get rid of the bad investments and business men. We really need to start over.

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