via Balloon Juice
Professor Warren, in her capacity as a specialist in bankruptcy law, uses actual facts & statistics to back up her Cassandra predictions. Despite the Burkean vapors of Brooks & Doubthat, she pins the decline of the American middle class not to our moral decay and piggish consumerist lusts, but to the “rational” decisions of powerful industries (and the governments that served those industries) to shove an ever-increasing percentage of public-utility social costs like health care and education onto individuals and families.
If you haven’t got the time or strength to watch the whole lecture, I recommend listening, starting at about 47:30, to what she has to say about bankruptcies in America, even before the Great ‘maybe if we insist it’s only a recession it won’t hurt so much’ Collapse of 2008. Why do I suspect that 85% of middle-class bankrupts are no longer able/willing to hide the “stigma” from even their closest friends and family members?
Airports are good for something.
Peace
