The increasing divide between the rich and poor in the United States really is staggering, and that's where a lot of this frustration stems from. That country is in a likely irreversible decline and it's the lower classes which will feel the pinch the most. People have gotten used to being able to fall ass backwards into a pretty good position simply because they were born in the United States, but that's not going to continue forever. And those in power should really pay attention, because the less people think they have to lose the more extreme they'll become.
Too much short term thinking and poor regulation in the United States is coming back to bite them in the ass and it's really not surprising. The problem is that a lot of people are now realizing that no matter who they elect it's going to be the same story and they're starting to see their political system for the sham that it is. I wouldn't be surprised if you see more of this kind of stuff as time goes on.
I also wouldn't be surprised to see something similar happen in Canada in the near future. The government (through the CMHC) has backed half a trillion dollars in loans for houses providing basically a no risk proposition for banks on the taxpayers' dime. If property prices drop precipitously then we'll see a drop in peoples' net worth while at the same time an already agreed to bailout of the banks who've loaned all this money.
|