A good read: Debt is capitalism’s dirty little secret
Summary: Lightly-regulated capitalism pushes all the gains to a very few at the top.
“So why has there been no revolution? Because there was a solution: debt. If you couldn’t earn it, you could borrow it. Cheap financing was made widely available.”
Well those days are over. All the benefits still flow to a very few at the top – sometimes without any masks over what is happening, as with the bailouts. But the rest of us no longer even get to borrow a lifestyle.
What comes next?