Inequality for All Page #2

---

concentrated

in fewer and fewer hands,

the wealthy turned

to the financial sector,

and in both periods,

the financial sector ballooned.

They focused

on a limited number of assets:

Housing, gold,

speculative instruments,

debt instruments.

And that creates

a speculative bubble

in both times.

We also know

that the middle class,

in both periods,

their incomes were stagnating,

and they went deeper and deeper

into debt

to maintain

their living standards.

And that creates a debt bubble.

That's why you see,

in both these periods,

economic instability.

What makes an economy stable

is a strong middle class.

Look, the most important thing

to understand

is that consumer spending

is 70%

of the United States economy.

And the middle class

is the heart

of that consumer spending.

So it's your middle class

that keeps the economy going.

There's no way you can sustain

the economy over the long term

without a strong and vibrant

and growing middle class.

Can't be done.

- People are being intimidated.

- Correct.

I mean, they might

lose their jobs if they...

I talk to a lot

of different groups.

Some are wealthy.

Some are working-class.

Some are conservative.

Some are liberal.

And he finally got

a full-time job.

The middle class is struggling.

It is going downhill.

I hear it all the time.

Well, everyone tells me

that I am,

but I don't feel

like I'm middle-class,

because I'm barely making it.

Middle-class

is living comfortably

and not having to... not having

every week be a struggle.

I'd like to save up

and buy a house one day,

and, you know, I haven't really

been able to do that

and been kind of holding back

and just trying to make rent

right now.

How much do you make an hour?

Right now,

I think it went up... $21.50.

$21.50 an hour.

Hola, Alberto.

I think I'm being paid fair.

It got to a point

that we were able to afford,

you know, a condo

on Olivera Road,

and we bought it.

We had our own things,

our own place.

It was little,

you know, two-bedroom.

We bought it in 2004.

Around 2006, start of 2007,

the market just dropped

like a rock.

And not that long after,

actually,

I lost my job that I'd been at

for a long time.

Luckily we had

some really good friends,

and one of them said,

"Come over here

and live with me."

So that's where we are now.

Go with Daddy.

- Go with Daddy.

- I'm hungry.

You're hungry?

Child care for Paulina right now

costs me about $400.

I'm, like, undecided whether

I should make her walk home...

buy her a phone and walk home,

making sure she gets home okay,

or keep paying a day care.

- Bye.

- Here, Mom.

Ready?

I have $25 in my

checking account right now

Rate this script:4.3 / 3 votes