Thursday, September 22, 2011
Class and Opportunity
We often say that people should have saved and waited patiently instead of borrowing money. In reality, not every American had the financial inflow that allowed them to make savings that would have upgraded their living standards. America is systematized in a way that the lower class citizens have a remarkably low chance of elevating in the economic world. This bias cycle contributed in blinding the lower class citizens from realizing the fatal ending to this bubble. They thought it was the one hit to get the American dream. It's not my intention to justify people who are in serious debt, but it is another factor to recognize.