Why Europeans Think We're Insane

Here the British Guardian newspaper says that the so-called American middle class lifestyle for most people was fake and that was financed by three decades of a debt bubble which has now gone bust. The credit ride of working class folks living a middle class lifestyle is dead and gone. Is this article stating bluntly that it's over? The only remaining question is, will it ever come back? I mean, how long can people ride a wave of endless debt before the ride is over, all while pretending to be middle class? Is that what this British Guardian newspaper article is saying? Well, to that end I offer the quote below and a link to the full article. Please read it and decide for yourself what it says.

(Guardian.co.uk) America's new poor: the end of the middle-class dream

America's middle class is disappearing. A lifestyle sustained for 30 years by rising debt is dissolving as the credit dries up. And the question beyond the crisis is: can it ever come back?

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In the midterm elections politicians have promised to "do something" for the middle class. The kindest thing they could do is tell the truth: Americans have been living a middle-class lifestyle on working-class wages – and bridging the gap with credit.

And it's over.

In a free-market society the real middle class is always a minority: if your street has a gate and a security camera at the end of it then you are middle class. A real middle-class kid can afford a college education, not a web-based degree. The real middle-class family does not skip meals or find its automobiles trapped in the repair shop because of unpaid bills.

http://www.guardian.co.uk/...

This article below declares the American dream is withering away and talks about the use of food stamps in America which is growing. To which we should note that no country in the European Union uses food stamps to humiliate its poor in the grocery checkout line.

(International Business Times) - 'American Dream' withers as tent cities mushroom in promised land

By Jijo Jacob | November 21, 2010

The nation that once gloated over its ability to feed the entire world is seeing an explosion of poverty: The number of people surviving on food stamps is rising as biting unemployment refuses to abate, personal incomes have been falling while the debt bubble is inflating with each passing day and, in a more startling representation of the grim reality, tent cities are mushrooming as more and more people are pushed out of their ‘underwater’ homes.

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