We’re All Bob Cratchit Now
I’ve always been partial to Bob Cratchit, myself, anyway.
Hey, Spot. I heard a new definition for “middle class” on the radio* yesterday. Lawrence Mishel, president of the Economic Policy Institute, defines the middle class today as “Really almost everybody in America except the very well off.” While that stretches to the breaking point the definition of the word ‘middle,’ I think it’s true in a way. In the current economic climate, there isn’t a whole lot of separation between “the poor” and the poor schmucks trying to “own” homes, while interest rates on trillions(!) of dollars of Alt-A and Option Arm** mortgages are about to reset.
But you know the thing about Bob Cratchit? That poor schmuck knew how to keep Christmas.*** In spite of it all!
Season’s Greetings, Friends.