Oy! Scary as hell, like the whole house of cards gonna fall again soon.

They have built an economy by convincing consumers that this, this, that and that is the basics of a middle class life. And a huge financial economy to loan the money to do that. And those things provide jobs and growth, but without paying them enough to continue keeping that growth pyramid up.

About a decade ago, I started to notice that one never saw junkers on the road anymore. So much so that people raised to buy and drive junkers, and not be saddled with a car payment, which was considered a luxury, like me and my family, were really looked down on. Like: geez can't you afford a decent car. Rather than: how stupid to pay a loan company for a new car if you aren't flush.

Throw in that rents and/or house payments seem to be at an all time high across the country And that college tuition and loans to pay for it has skyrocketed. Something's got to give.

Some thoughts First being clear that I am not mentioning this to lecture about the morality of living frugally like in the old days. It's just that I don't think people realize enough how expectations have changed, that what hit me, here. It's striking to me as a child of the late 50's and early 60's, that what was defined a middle class then, and so many describe as the golden days we have fallen from, is a false thing, the mythical land of "MAGA".

Here's what that era was really like, this is the basics of middle class back then:

• 1 used car per family, 2 at the most. You bought cars from want ads in the newspaper if you were smart, and from used car dealers if you were dumb Most young people starting out would never ever dream of buying a new car!
• 1 TV set, color if you were lucky. Couple of radios. Phonograph player or stereo if you were lucky or artsy. Two fans. No air conditioning. I refrigerator, 1 stove, 1 washer, maybe a dryer, chest freezer if you could manage it to save on meat.
• No such thing as credit cards and no investments.
• Health insurance covering hospitalization only. Unless you were in a big union which might have their own medical coop with the worst doctors and cheapest medical equipment around.
• Clothes and household furnishing purchased on layaway. Savings were for repairs if the car broke down. Christmas Club savings for Christmas gifts.
• 1 phone line, not a party line if you were lucky, strictly limited long distance calling any but the very local area, as it was too expensive
• Small 3-bedroom ranch house if you were lucky enough to have greatest generation parents who gave you the down payment as a wedding gift
• Not everybody gets to go or should even think about going to college
• Things like books and movies were a luxury entertainment item.
• No kid gets a bicycle unless he or she can save up some from after school jobs and allowance to at least contribute to the cost

We "grew" a new economy from changing those expectations. Basically by giving the middle class the tools of credit and investment that only the wealthy had access to previously.  Without raising the real adjusted amount they were being paid. Nobody talks about "keeping up with the Joneses" anymore, because everyone became a Jones to feed the consumer economy.

Ah but since 1998 through 2018, the killer is not car payments nor even housing but college costs, medical and child care. And HOSPITALS ARE RIPPING THIS COUNTRY OFF. Yes, I am shouting. They need to be threatened with nationalization or somethin'