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RE: In the U.S. what is happening to the middle class?
I hadn't considered the "eroding" of the middle class before.
The @zer0hedge post reminded me of something I read a few weeks ago about Don Foss stepping down as the head of Credit Acceptance Corp, one of (if notTHE) largest sub-prime auto lenders.
He reportedly unloaded a buttload of his former company's stock after retiring.
What does that say about the lower end of the middle class?
upvoted and resteemed
Ugh... I hadn't heard about that. I have a mental picture of us all being lead around by some grinning maniac holding a red easy button like it is brains and we are a hoard of zombies looking for a meal.
Sadly, I think "The West" has come to the 3rd Generation in the saying that:
The 1st Generation starts a company builds the foundation.
The 2nd Generation comes along and builds a successful business on that foundation.
And the 3rd generation comes along and runs it right into the ground.