Skip to comments.The Coming Collapse of the Middle Class
Posted on 05/06/2016 7:06:55 PM PDT by thoughtomator
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]
Yes it's Elizabeth Warren. Ignore what you know about her now. This is the pre-politics version of Warren, making the economic case that has led to the rise of Donald Trump. You will be shocked at how conservative the implications of this presentation are.
It's not just exquisite irony, it's also very informative as to why and how the middle class has been crushed economically. This dates to 2007 so all the trends noted are now another decade further along.
Start 5 minutes in because the intro is boring and not relevant. This is 45 minutes of video that will be very worth your time.
this wack job Warren believes that the government built wagon trail before the settler came to travel across the land
Did I say to watch the video before you react?
I’m pretty sure I said to watch the video before you react.
Why don’t you watch the video? It will completely defy your expectations, I will lay money on that.
Indeed. This is a Jekyl-Hyde cognitive dissonance moment. Thus Elizabeth is compelling, sympathetic, common-sensical and bears no resemblance to to two-faced, corrupt moron we now know. Somebody explain this!?!!
this dates back to 2007
I saw this awhile back. One point she made is obvious, but I never thought about: Dual incomes are necessary for most families. And that doubles your chance of something bad happening. Twice that chance to lose your job for example. And since you need two incomes, losing one is a catastrophe.
She got bought out to prevent her from leading an anti-establishment insurgency among Democrats. Whatever her price was, they met it.
Yep. She made a rock-solid case that the feminist drive to put women in the workforce was a catastrophe for the middle class.
I have heard a few (not many) Dems that can identify problems and their causes spot on. Then they start talking about their “solutions” and then I think they are nuts
The leftists always CLAIM to be for the ‘middle class’ and ‘the workimg man’....and then destroying them through their horrendous policies and placating them along the way. Evident throughout history. Marx hated the middle....because they were ‘upwardly mobile’ and had aspirations of being wealthy. Charlatans one and all.
The skill set needed to identify and analyze a problem is not necessarily the same skill set needed to solve that problem. Warren is a strong example of this phenomenon.
I stopped reading at “Distinguished...”
The video dates to 2007.
If we want to talk root causes we can look to things like the establishment of the Federal Reserve and institution of the income tax in 1913, or later on the closing of the gold window by Nixon, transforming the currency from a gold-backed one to a debt-backed one, or the passage of Glass-Steagall in the late 90s which, in combination with rock bottom interest rates, gave the biggest banks nearly unlimited ability to create funds to speculate with, knowing they would be backstopped by the government for their losses.
That’s the formal text from the series description.
Seriously, it’s worth your time.
I’ve heard this speech. She actually makes some very conservative points about debt, family creation, etc.
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