*promote

Self promoting this video and sending it back into the queue for one more try; last queued Thursday, September 22nd, 2011 9:02pm PDT - promote requested by original submitter Peroxide.

its a little bit old, march 2007 lecture, wile interesting it doesn't include the effects of the crash.

Aristotle's writings are a little bit old too.

Around 50-52 minute mark you can predict what would happen during the crash. Bankruptcy due to job loss, health problems, or family problems (death/whatever). A lot of people lost their jobs, we've seen the long discussions about outrageously expensive insurance and health care costs, etc.

What I took away from it is that it's not possible to middle class in the US and stay out of debt unless nothing goes wrong. Versus in the past a similar middle class family could survive job loss, health problems, and deaths in the family financially because while they made less, fixed costs were lower and they had more flexibility to cut back and still meet their fixed cost demands.

She also made the point that more families with children will go through bankruptcy than will get divorced, but that they could hide it successfully with excuses of moving into a parent's house due to parent's failing health or moving out of the area for job opportunities elsewhere, etc. So the likelihood if you knowing someone who has went through bankruptcy seems pretty high considering how many divorces you see on a yearly basis.