The U.S. economy crashes when it becomes too top heavy because the economy depends on consumer spending to keep it going... For a time, the middle class and poor can keep the economy going nonetheless by borrowing. But, as in 1929 and 2008, debt bubbles eventually burst. We're getting dangerously close. By the first quarter of this year, household debt was at an all-time high of $13.2 trillion.

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Robert Reich was a contemporary American academic, lawyer and political commentator. Robert Bernard Reich is an American professor, author, lawyer, and political commentator. He worked in the administrations of presidents Gerald Ford and Jimmy Carter, and he served as secretary of labor in the cabinet of President Bill Clinton from 1993 to 1997. Read more on Wikipedia →

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