It’s just getting Wall Street some fee and interest income in between bailouts while blowing a bubble for your party to take advantage for the next election. It's what Bush did - had the People finance the economies expansion instead of the Government.

So, take your new found confidence as a consumer and spend debt like the dickens! just remember nothing has structurally changed.


nora's picture
nora 6 years 17 weeks ago

I love your headline. Another succint statement.

It feels like we/re all marks in a heist. I mean, it is nasty. The worst part of it is we don't even get what we need from this Consumption model.

One example is housing.

'Affordable housing' is a term that exists because the consumption society doesn't provide choices so much as it sells a mythos-based existence.

People struggle to find a place to live. In the USA there is only great housing or awful housing, There is little in-between. That gap is the day-to-day reality of inadequate housing for many. The national goal certainly could be 'decent' housing for all'. But that doesn't go along with the myth that any American can live in luxury. (Can't let go of the myth! Some of the workers might slow down on the that treadmill if they were actually SATISFIED with life. Satisfaction is not the way to force more people into debt, not is it?)

Even the housing promoted to state and federal funders as "affordable" by developers is made by those developers to be high end, so that when the 20 years or so of affordable housing contract is met, these buildings can be rolled over into high-cost housing and rented or sold for more.

Anyway, that's the example that popped into my head.

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