The neofeudal colonization of the ‘home market’ has transformed the middle class into debt serfs.

According to the conventional account, the Great American Middle Class has been eroded by rising energy costs, globalization, and the declining purchasing power of the U.S. dollar in the four decades since 1973.

While these trends have certainly undermined middle-class wealth and income, there are five other less politically acceptable dynamics at work:

The divergence of State/private vested interests and the interests of the middle class
The emergence of financialization as the key driver of profits and political power
The neofeudal ‘colonization