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Most Americans stopped looking at what was happening through a variety of coping mechanisms - starting with women entering paid work and then everyone working longer hours and using their homes for raising equity and generating more money through debt. The typical household basically staved off the day of reckoning.

Robert Reich

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Robert Reich
Age: 78
Born: 1946
Born: June 24
Economist
Former United States Secretary Of Labor
Political Scientist
Politician
University Teacher
Scranton
Pennsylvania
Robert Bernard Reich
Looking
Happenings
Entering
Working
Debt
Raising
Hours
Happening
Typical
Generating
Everyone
Using
Household
Mechanisms
Money
Starting
Mechanism
Reckoning
Women
Paid
Stopped
Coping
Home
Americans
Variety
Equity
Work
Longer
Basically
Homes

More quotes by Robert Reich

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I mean, you hear the word 'globalization' over and over and over again. Globalization, globalization, globalization. Rarely has a word gone so directly from obscurity to meaninglessness without any intervening period of coherence.
Robert Reich
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There are party leaders, big corporation, Wall Street. There are very wealthy individuals who kind of represent where the Democratic Party, the official Democratic Party was and to some extent still is.
Robert Reich
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We can't know in advance what history is going to say, but I would be utterly amazed and surprised if this entire adventure, this entire Iraqi invasion from the beginning of its inception, were not judged to be an utter failure and a terrible, terrible thing for the world.
Robert Reich
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When the President decides to go to war, he no longer needs a declaration of war from congress.
Robert Reich
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If you ever want to get a sense of your own personal failure, look at yourself trying to get across a point that nobody is listening to and the situation gets worse and worse.
Robert Reich
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Corporations are not people, despite what the Supreme Court says, and they don't need or deserve handouts.
Robert Reich
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Median wages of production workers, who comprise 80 percent of the workforce, haven't risen in 30 years, adjusted for inflation.
Robert Reich
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America's real business leaders understand unless or until the middle class regains its footing and its faith, capitalism remains vulnerable.
Robert Reich
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Our moral authority is as important, if not more important, than our troop strength or our high-tech weapons. We are rapidly losing that moral authority, not only in the Arab world but all over the world.
Robert Reich
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When corporations get special handouts from the government, subsidies and tax breaks, it costs you. It means you have to pay more in taxes to make up for these hidden expenses, and government has less money for good schools and roads, Medicare and national defense and everything else you need.
Robert Reich
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We're now moving toward a radically different economy. You absolutely can't have a distribution oligopoly. The new oligopolies - and I think there will be new oligopolies - will be oligopolies of trustworthiness. Microsoft, Amazon, Schwab, and other brands will dominate psychic space, not shelf space.
Robert Reich
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If leadership is about anything, it's about leading. Not leading people back to where they already are, because they don't need that. They're already there.
Robert Reich
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Any bank that is too big to fail is too big. Period.
Robert Reich
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The only sure way to stop excessive risk taking on Wall Street so you don't risk losing your job, or your savings or your home, is to put an end to the excessive economic and political power of Wall Street by busting up the big banks.
Robert Reich
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We do not want to live in a theocracy. We should maintain that barrier and government has no business telling someone what they ought to believe or how they should conduct their private lives.
Robert Reich
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When I was a kid, the bigger boys would pick on me. So I got an idea that I would make alliances with older boys, like just one or two, who would be my protectors.
Robert Reich
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You ask, Could we have an honest discussion about earnings insurance? I think we could, if people understood that the alternative was to build up a backlash against global capital, against free trade, against technological change.
Robert Reich
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It is a myth that higher taxes lead to less demand and slower growth. In the first three decades after World War II, US top tax rates on the wealthy were never below 70 percent.
Robert Reich
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I think that in politics, when people want to discredit a particular position, they say, Oh, they are liberals, or They are conservatives we are centrists. Everybody wants to be a centrist.
Robert Reich
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Being critical of the nation is a far cry from being unpatriotic or anti-American. In fact, most social criticism . . . is based on a love of America's ideals and a concern we're not living up to them.
Robert Reich