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Bush End Game
George W. Bush's presidency since 2007

Bush - Second Term
George W. Bush's presidency from 2005-06

Bush - First Term
George W. Bush's presidency, 2000-04

Who Is Bob Gates?
The secret world of Defense Secretary Gates

2004 Campaign
Bush Bests Kerry

Behind Colin Powell's Legend
Gauging Powell's reputation.

The 2000 Campaign
Recounting the controversial campaign.

Media Crisis
Is the national media a danger to democracy?

The Clinton Scandals
Behind President Clinton's impeachment.

Nazi Echo
Pinochet & Other Characters.

The Dark Side of Rev. Moon
Rev. Sun Myung Moon and American politics.

Contra Crack
Contra drug stories uncovered

Lost History
America's tainted historical record

The October Surprise "X-Files"
The 1980 election scandal exposed.

From free trade to the Kosovo crisis.

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America's 'House of Credit Cards'

March 1, 2009

In the United States, unions have been in steep decline, helping to explain recent stagnation in wages, an over-reliance on credit, and today’s painful squeeze on the American middle class.

Economist Richard Wolff said the loss of middle-class status for so many led Americans to turn to credit as a way of maintaining an illusion that they still could afford to consume, and over time that produced a national economy built on “a house of credit cards.”

(The story summary continues below.)

"We took on a level of debt that no working class in any country at any time in the history of this planet ever did before,” Wolff said. "The fundamental issue is that we've run out of ways to keep this going. The wages are not going up and the credit is now tapped out." is an independent news network that produces stories of global interest. 

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