Re: The great middle-class identity crisis
Debt on the labor class is the problem, a symptom of a larger flaw in the current iteration of the system.
I had breakfast last week with a fund manager out of London who manages 9 billion in AUM in global equities ex-US. He said the inequality in the world is the make up of revolutions and is a bit struck that they havent happened yet. Debt is a worldwide problem not just in the US.
Then I told him: "Debt is an ingenious substitute for the whip and chain of the slave driver" and said "never before have so many consumers so willingly gone into debt"
Originally posted by don
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I had breakfast last week with a fund manager out of London who manages 9 billion in AUM in global equities ex-US. He said the inequality in the world is the make up of revolutions and is a bit struck that they havent happened yet. Debt is a worldwide problem not just in the US.
Then I told him: "Debt is an ingenious substitute for the whip and chain of the slave driver" and said "never before have so many consumers so willingly gone into debt"
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