Two articles
This first one is a good review of how the real estate bubble was created with either indifference or intent knowing the bubble would burst; how new bankruptcy laws that favor banks put at-risk homeowners in a dangerous position; and how medical issues in our crummy for-profit health care system (even for those with insurance) are the primary cause of bankruptcy and foreclosure. A perfect storm that resulted in millions being severely injured.
Supply-side economic policies, which are making their election year come back with both parties calling for corporate tax cuts and Republicans calling for massive tax cuts for the wealthy, left us in the past with more conspicuous consumption by the wealthy, a lower savings rate, less net private sector investment, and a lower median income for a full-time year-round worker.
K. Z.
