[quote=LuckyInOC]IMO, it is not lost wealth. It is lost debt-inflated dollars. The economy was built on a house of cards….[/quote]
I tend to agree.
Blaming our economic ills on the crash of 2008 ignores the underlying cause of that crash – the runaway asset inflation of prior years. That was allowed to happen because it allowed us to dream that we were doing well, even as spendable incomes, net of health care costs, were declining for many Americans. Now the tide has gone out some, and the promise of affluence without fundamental, painful, reform is the naked man on the beach.
