GoFuckYourself.com - Adult Webmaster Forum - View Single Post - The Coming Collapse of the US Middle Class (VIDEO)

kane · 08-08-2010, 04:17 PM

I'll have to listen to it while I work.

I have long had a belief that the middle class in this country have aided in bringing about their own downfall through the use of credit.

It wasn't too long ago that the average guy making the average wage could afford the average house and car, he could support his wife and kids, take a vacation every year and still have money left for his kids college funds and his retirement. Those days are gone and the main reason is prices. These days many people spend 60-70% of their income just on their mortgage. Companies figured out that if they extend the time to repay credit and give credit accounts and cards, people will buy stuff they can't normally afford. This drives up costs across the board and causes many things to now be out of reach to the average person unless they use credit. And, of course, they do. People don't want to deny themselves anything so they buy it even though they know they are over-paying and can't really afford it.

08-08-2010, 04:17 PM
kane Too lazy to set a custom title Join Date: Aug 2001 Location: portland, OR Posts: 20,684	I'll have to listen to it while I work. I have long had a belief that the middle class in this country have aided in bringing about their own downfall through the use of credit. It wasn't too long ago that the average guy making the average wage could afford the average house and car, he could support his wife and kids, take a vacation every year and still have money left for his kids college funds and his retirement. Those days are gone and the main reason is prices. These days many people spend 60-70% of their income just on their mortgage. Companies figured out that if they extend the time to repay credit and give credit accounts and cards, people will buy stuff they can't normally afford. This drives up costs across the board and causes many things to now be out of reach to the average person unless they use credit. And, of course, they do. People don't want to deny themselves anything so they buy it even though they know they are over-paying and can't really afford it.