The American Middle Class Has Never Existed – 09.04.2015

The poorer classes have simply disguised membership in a “Middle Class” through the extension of credit. When that credit has been taken away or halted (as now) the basic condition of the American poor has simply reverted to the norm. This is an unavoidable process. The vaunted, post-war wealth of the 1950s was only made possible through credit. As soon as that dried up, “middle-class” standards reversed. This explains the perceived wealth of the 1920s, ephemeral as it proved to be. The Big Mac Index – and another measure of economic valuation never before proposed! The melt-down of China and the growing risks to the banks. Why wealth and prosperity are not about to return. Censorship in China – and in the United States…