Saturday, November 19, 2011

In case you wondered ...

... How We Were All Misled by John Lanchester | The New York Review of Books.

1 comment:

  1. Some things are never mentioned in essays like this. We hear how the well off went into debt to make their lives even more well off, but nothing is ever said about those who HAD to use credit cards because real wages did not keep pace with inflation since 1968.
    No mention how credit cards became required for some purchases, such as rental cars, hotel rooms.
    Not enough mention of how corporate America talked about GROWING the economy which could only be done through debt.
    And what ever happened to the word 'deflation'? Why is there inflation only? Other than a few volatile commodities, the overall rate of price inflation is the norm. If free market capitalism really works, why don't we have periods of deflation?
    Love venting on your blog.