Hey Americans, you need to watch this

August 27th, 2008 · Comments

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I finally got around to watching this during my travels over the weekend, I highly recommend you watch it too. Distinguished law scholar Elizabeth Warren teaches contract law, bankruptcy, and commercial law at Harvard Law School. She is an outspoken critic of America’s credit economy, which she has linked to the continuing rise in bankruptcy among the middle-class.

This video is a serious eye-opener, don’t let it’s length frighten you off. 57 minutes is less time than watching a full episode of yet another carnation of Law & Order, two crappy sitcoms, or one hour of any “news” network.

Thanks Julien.

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Tags: economy · finance · money · video

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Paul Schatzkin 2 months ago 1 point
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All of which proves that we are living on an individual/family level the same unsustainable lifestyle that we are living on a national/governmental level. The problem is pervasive and systemic, and the sad fact is that neither of those esteemed gentlemen who would lead us into the next decade has said anything that addresses the magnitude of these issues. The operative word going forward is "austerity" (just ask Dave Ramsey...) if we want to truly restore America's solvency and standing in the world. But that isn't a word that sells well on the political stage.

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Dave Delaney 2 months ago 1 point
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You're right about austerity. I've often said that the next president will probably make many "unpopular" moves, but those moves will be for the greater good and end results. I just hope he doesn't chicken out.

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Ben Goertz 2 months ago 1 point
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Dave, that was incredible. I had a hard time believing Obama when he started talking about how its harder now for families to make it then it was 30 years ago. When McCain's adviser said we've become "a nation of whiners," I thought he was saying something true, just in the wrong way. Well this lecture shot that idea down. Wow! Every chart nailed the case tighter and tighter.
Anyway, thanks for sharing it. I wouldn't have gone looking for it. Here's my only question that I wanted to see her compare. How has the tax rate changed for families in the last 30 years and how has it changed for businesses?

Good luck with unplugging!

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Dave Delaney 2 months ago 1 point
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It's a good question, one I'm sure she would probably answer on her blog.
Click her name in my post to get to it. Please let me know what you find.

Thanks,
Dave

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