We need the middle class to be debt slaves perpetually.

N

noob_trad3r

http://www.cnbc.com/id/46479059

“It’s somewhat of a false indicator looking at consumer spending and saying all consumers are doing so much better,” she said. “You haven’t had substantive wage growth and you see the contraction in available credit for mainstream America take a toll.”

Decreasing access to credit is one of the main obstacles middle-income America will face, she said. That’s been brought on by tighter lending practices enacted after the financial crisis, which was triggered in large part by easy credit standards."

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Translating this for you.

Since we have no plans on ever providing good salaries to the Middle class, we need to make up the difference in eroding purchasing power due to zero income growth by having them borrow in perpetuity and keeping them as debt slaves just like in the medieval era.
 
Quote from noob_trad3r:

http://www.cnbc.com/id/46479059

“It’s somewhat of a false indicator looking at consumer spending and saying all consumers are doing so much better,” she said. “You haven’t had substantive wage growth and you see the contraction in available credit for mainstream America take a toll.”

Decreasing access to credit is one of the main obstacles middle-income America will face, she said. That’s been brought on by tighter lending practices enacted after the financial crisis, which was triggered in large part by easy credit standards."

==========================================

Translating this for you.

Since we have no plans on ever providing good salaries to the Middle class, we need to make up the difference in eroding purchasing power due to zero income growth by having them borrow in perpetuity and keeping them as debt slaves just like in the medieval era.
More...

Or not everyone is entitled to an Ipad and a BMW 3-series.
 
You are both right to large degree. There are huge structural problems with the US economy and it will largely affect the middle class, IMO.

With that said, the middle class went right along with the debt scheme and was more than happy to bury themselves in CC, auto and mortgage debt to their eyeballs.
 
You only live once, and when you have that chance to live like a KING.....well, apparently most did just that.

People buying million dollar homes on low wages.

40 inch plasma TV's while checking time on their Rolex.

M3 in the driveway while Monday's gf sleeps.

She can take the Escalade if she needs to run to the spa.

And all your "friends" are doing the same.

The debt problem, to me, is spending $100k on a worthless degree. Worthless defined as ROI negative. With interest, that is going to cripple soo many students.

Medical costs also are deadly.

What's a good way to get that off your mind?

Don't pay your mortgage for 3 years and have tons of cash for the new iphone.

LOL
 
Quote from zdreg:

it is all part of obama's socialist plan to make Americans dependent on the government.
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I have no doubt that Obama and other leftists would like to see an increased dependence to a stronger central government, but this structural problems in our economy and the use of debt to delay the inevitable lower standard of living have been occurring for decades now. They were perpetuated by Democrats and Republicans alike.
 
Quote from clacy:

I have no doubt that Obama and other leftists would like to see an increased dependence to a stronger central government, but this structural problems in our economy and the use of debt to delay the inevitable lower standard of living have been occurring for decades now. They were perpetuated by Democrats and Republicans alike.
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obama was sent by ... for the coup d'grace.
 
Quote from BlueTurtle:

You only live once, and when you have that chance to live like a KING.....well, apparently most did just that.

People buying million dollar homes on low wages.

40 inch plasma TV's while checking time on their Rolex.

M3 in the driveway while Monday's gf sleeps.

She can take the Escalade if she needs to run to the spa.

And all your "friends" are doing the same.

The debt problem, to me, is spending $100k on a worthless degree. Worthless defined as ROI negative. With interest, that is going to cripple soo many students.

Medical costs also are deadly.

What's a good way to get that off your mind?

Don't pay your mortgage for 3 years and have tons of cash for the new iphone.

LOL
More...

This is the most honest yet very deep reply about this issue. Well said.
 
Upper class made zero risk bets with borrowed Fed money. Then through political influence, passed a bailout in congress in record time. Now work begins to make the middle class pay long term for their bad investments to eachother. The top is shrinking, yet getting more powerful. Any questions?
 
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