"The heart of the matter isn't the collapse in housing prices or even the frenetic rise in oil and food prices. These are contributing to the mess, but they are not creating it directly. The basic reality is this: For most Americans, earnings have not kept up with the cost of living."
How was all this handled so as to hide the problem? "...the first coping mechanism was to send more women into paid work... (then) turned to a second way of spending beyond their hourly wages: They worked more hours. The typical American now works more each year than he or she did three decades ago."
Read on and try not to think of the rich getting richer based on politics aimed at conserving that process to the point of collapse.
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