This is the current state of the US consumer. Most people DO NOT have even $2,500 for an "emergency" situation. They are living paycheck to paycheck and in debt beyond their ability to pay. Loan defaults are rising. Sound familiar?
Here is how it works.. People are being lied to on such an enormous scale, hearing "how great everything is" every day, that they "buy" the propaganda- The same thing has occurred prior to every other bubble bursting. This time is no different, the middle class ALWAYS loses. This bubble IS NOT done inflating yet.