Elizabeth Warren – The Two Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke
mslaw.edu Elizabeth Warren discusses how the dreams of the middle class american family are being depleted by the dramatic increase in bankruptcies and foreclosures. Warren discusses the role that credit card companies and ballooning interests rates have played in rapidly increasing mortgage rates as well as the how the over consumption myth is clouding our understanding of the average middle class family, who is in fact experiencing a lower standard of living than their parents and still finding themselves one payment away from losing their home. Elizabeth Warren is the Leo Gottlieb Professor of Law at Harvard Law School and chaired the Congressional Oversight Panel created to investigate the US banking bailout . This program originally aired in April 2004. it is being re-aired because Professor Warren’s predictions of economic disasters and the reasons for them have proven correct, and she is a candidate to head a commission to guard against recurrence. TheMassachusetts School of Law also presents information on important current affairs to the general public in television and radio broadcasts, an intellectual journal, conferences, author appearances, blogs and books. For more information visit http
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hmm…
NEED TO MAKE SOME EXTRA CASH? WHY WAIT???
youtube.com/watch?v=k8DmYCVxgcQ&feature=plcp
Vote for Elizabeth Warren for Massachusetts Senator 2012!
What you smell is a stink odor of your ideology.
If the free and “fair” market is allowed to flourish, the created wealth is going to be “proportionally” (key word) distributed which prevents it from accumulating at the hands of a very few. Which part of that you didn’t get?
The rest of your misguided drivel is nothing but a cow mooing while taking a dump the size of a dinner plate. Ya, “everybody” is looking for handout. Keep swishing that sip of pundit Kool-Aid. It’ll take you far in life.
Eliminate taxation and the people will be wealthy overnight!
Pew, I smell a communist, banter of wealth distribution? Ok go donate all your money to the Federal government. Individualism is the American way, the source of American Exceptional-ism. Socialists go line up around the back of the building to get your free cheese, oh and don’t forget to whine about it. Me, I’ll work my fingers to the bone to EARN a living instead of being a sponge begging for a handout. Wealth distribution, what a crock!
A monkey on davenetdog’s shoulder shrieks,
There is no big government; there is a big government for a few industries.
The problem is the wealth distribution schema. The wealth is created just fine, it just doesn’t get proportionally distributed among all the agents in the stack.
Abolish big government and all the problems never occur.
I am not sure what it is like where you live, but here in the UK rental properties are usually not the best. If you find a really good one at a good price, you can only get a lease agreement for 12 months. The estate agents make a living out of turning properties over, so a longterm tenant is no good to them. Car insurance in UK is compulsory (scam??) . I agree….a house should earn you money. So buy 2 flats, rent out one.
Child care is a huge killer when considering 2 income families. My wife and I both work and child care is $60 less than the mortgage. So, in essence we are paying for child care, so we can work, to pay for child care. Its a sick joke. BUT I would not trade my kids for anything. Not having kids is not an option for me. Having children is a great part of life
If we lower the expectation of the working classes even more we will all be living in cardboard boxes in a few years. I admit some middle and upper middle folks have one too many autos and too much of other material items, maybe an expensive hobby or what not, but most in the working classes budget their money well. When the first generation lives poorer than the previous, which started with gen X and has continued on, we know there is a problem and it’s not about excess spending in most cases.
While I don’t agree completely with nassaldromus he has a point – middle class american think they NEED to own a home drive two cars etc. We (family of four) live paycheck to paycheck and I wish we’d never bought our house. We could have lived nicely in an apartment and saved to buy a home later with a small mortgage. But the expectation was that we’d buy a house and so we did…maybe middle class americans need to change their expectations of what it means to be middle class.
because it’s easy and doesn’t cost a lot;)the property mostly is pretty cheap .try to go so easy to Oslo, Norway:)
i look at some homes Avg was $900,000 Feb 2012 they did not go down North CA
When the money is a Lie, everything is a Lie.
The only ones that can afford kids today in America are the Hispanics living 20 to a house. Don’t have kids.
Watch the video again. It brings up this point and answers it.
hobama = gwb 2.0
mitt = hobama 2.0
same elitist banksters
same selections
same doom for us all
shame!!!!!!!
Do you live in a house? Drop the house. Mortgage, real estate taxes, and insurance alone are building up your income.
Do you have cable? Drop it. Netflix, read a book, workout, get a profitable hobby.
Car insurance: Don’t pay for what you don’t need.
I don’t every plan on buying a house unless it can earn me money!
You’re mortgage my be fixed relatively low. You might also be able to ‘afford’ it. Many people got hit with No Doc loans and the like. Many got hit with something they couldn’t afford.
We have exterminated the property owners in Russia.We are going to do the same thing in Europe and America
The Jew,December 1925,Zinobit
World revolution which we will experience will be exclusively our affair and will rest in our hands.This revolution will tighten the Jewish domination over all other people
Le Peuple Juif, February 8,1919
Welcome to JEW WORLD ORDER,they own FR,it’s private
Bible,Revelation 2:9,,3:9 jews=Synagogue of satan
Read this book for free on internet WHO IS ESAU-EDOM
If the interest rates on mortgages are so low, why are people getting “screwed” by their rigorous mortgage payments? Doesn’t seem to add up.
Why has this happened? Not because of the “lack” of government, rather, because the government has steadily been debasing, and thus, inflating the currency since we left the gold standard in 1932.
– The best way to have rich lower/middle class is to have lots of businesses. Redistribution of wealth currently planned is GLOBAL not just the US. Global income is $2 per day — global government = global poverty. This video about World poor/immigration demonstrates the point with gumballs. Easy to understand. I’m voting Ron Paul as his financial plan doesn’t cut government assistance checks, as he balances the budget.
/watch?v=LPjzfGChGlE
The last 5 minutes PROVE that American politics is still politics as usual. Hillary Clinton ( a quote on quote ‘liberal hero’) voted for a bill knowing that it was NOT in the best interest of the demographic in which she represents shows that We (middle class Americans) do not have adequate representation in the gov’t. The best way to fight this crooked system is to be out of it and not get suckered into these silly credit card / student loan/ mortgage lending GAMES aka BS!