'The American middle class will not spend its way out of disaster, if only because it can't. There are no savings. The house is worthless. The credit cards are gone. Jobs are disappearing. Today is bad and tomorrow looks worse. People are nervous, frightened, worried. They are behind in the mortgage, and struggle to make health insurance payments.
All the while, they watch the stock market explode, the bonuses arrogantly roll on, and their government lie to their faces that the "recovery" is underway. China is booming, so is India and Brazil. Beneath the hope, patriotism, and the flag, the American middle class can feel it all slipping away.'
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