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Tuesday, 03 February 2015


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The Americans believe that a poor lower class is essential for national prosperity. (Compared to them, Joe Hockey is Marxist terrorist.) They cultivate an impoverished class to drive the factories at low cost. The land of the free is part of the rhetoric to keep the poor from becoming socialists and the charity culture of the rich is how they salve their consciences for creating such misery

The last credit bubble saw all these people have the option to own a home (as their mortgages were laundered into assets to sell as AAA rated investments), so I would not read too much into that home ownership graph - the dates match.

I suggest that the student debt system is a similar structure designed to maintain an impoverished white collar work force to develop the biotech and software needed to keep US businesses ahead of the world. The legend of the entrepreneur is designed to keep this class in check because only a very few can be permitted to escape the debt trap.

So I challenge your analysis and claim the charts show business as usual in the USA.

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