Financial Nihilism and the Collapsing American Dream

Following the conventional path is a deadend. It isn't easy to carve a path outside the well-worn pathways of debt servitude, but it is possible.

America has become a nation bifurcated into haves and have-nots, and this is generating large-scale, enduring economic, social and political consequences. In a nutshell, older generations who bought homes and other assets at low prices decades ago have benefited enormously as credit-asset bubbles have pushed the value of these assets to the moon. These …