How else could lifestyles have expanded the way they have while wages have been flat to falling over that time period? Debt.
Globalization as we did it was a BIG mistake. With no environmental protections, intellectual property protections, and slave labor in other countries it was a screw job for us. I'll admit I was wrong in that area, and next time someone tells you how great Thomas Friedman is punch them in the nose.
But we are were we are, deflation is here and the leverage has dried up and lifestyles are going to correct back to something less than before the little experiment. Bye Bye McMansions, Bye Bye strip mall. Hello garden.
