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Watch PBS hour-long Inside the Meltdown on US economic crash
OldElmerFudd:
This situation is going to be with us for years. The fixes are still largely a mystery to every agency/government searching for solutions, so expect a lot of mistakes along with successes. I'm fortunate; my house is paid for and still worth a lot more than I paid for it 32 years ago. And, I never took out a loan against it. Work may be slow, but I can live on what I make. I feel very sad for those who have a lot of debt; this is not going to be an easy time for them.
Too many people just looked the other way while this all happened. Now that it's crashing down around our ears, I hope we have the patience and wisdom to see and learn.
redstarnyc:
This is a product of a fundamental belief that if you let the rich get rich enough the money will "trickle down" to everyone else. It hasn't worked anywhere in the world. Wealth concentration begets wealth concentration, not dispersal. Its a failed policy that's left the US with the greatest income disparity in the Western world.
As long as we (meaning Americans) judge our success by how the top 5% of our population lives we'll stay in this trap forever.
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