Monday, August 18, 2008

The Coming Collapse of the Middle Class

This video may be about the US but I'm guessing it also applies to the UK. We may think we are richer than previous generations, but in fact we are spending more on housing, healthcare and have more debt, even though we generally have two parents in work. The problem with having two parents in work is we have no slack in the system. If one parent falls ill or loses their job, we pretty quickly run out of money, since the other parent can't go out to earn extra, they are already in the workforce.

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