accrued to only a small slice of the population. prices, which for several years enabled homeowners to getting ahead. Further, throughout our nation’s
The American economy was doing pretty well, to spend beyond their incomes by borrowing history, even from the earliest days of colonial
but most Americans weren’t. against appreciating real estate values. But now settlement, economic advance has been central
house prices are falling, so that even that pressure to what getting ahead means for most citizens.
Nor is there is much economic solace to be had valve is closed. In the meanwhile, the families
from sources other than what people are earning. who borrowed in this way still have to service The dangers of what has amounted to a no-growth
With most stock market indexes flat or down since the increased debt they took on. In short, people economy for the majority of our country’s citizens
the beginning of the decade, the assets in most have been losing ground. And they know it. throughout this decade – and what now may, for
Americans’ 401(k) plans had not increased in value a while, be even worse – therefore go well beyond
even before the latest market downturn. The sole The reason all this matters is that, to our credit, the understandable disappointment that people
bright spot for most families was rising house Americans have always attached great importance feel when their material economic situation is not
88 / 96
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100