The impending collapse of the middle class
Good afternoon, welcome to Radioactivity, Iâm Rob Lorei.
Coming up today a powerful talk by Harvard professor Elizabeth Warren about the financial risks facing Americaâs middle class. But first a listener comment about last Thursdayâs program. We got into another discussion about a possible attack by the U.S. against Iran. Hereâs what one listener had to say.
Coming up next a speech by Elizabeth Warren, the Harvard professor. Warren writes that âthe American middle-class family that once could count on hard work and fair play to keep itself financially secure has been transformed by economic risk and new realities. Now a pink slip, a bad diagnosis, or a disappearing spouse can reduce a family from solidly middle class to newly poor in a few months.
"Middle-class families have been threatened on every front. Rocked by rising prices for essentials as menâs wages remained flat, both Dad and Mom have entered the workforceâa strategy that has left them working harder just to try to break even. Even with two paychecks, family finances are stretched so tightly that a very small misstep can leave them in crisis. â
Hereâs a talk Elizabeth Warren gave earlier this year at U.C. Berkeley on the crisis facing the middle class.comments powered by Disqus