The Housing Crash and the End of American Citizenship

To many Americans, it feels like the United States is a different country than it was just a few years ago. It is hard to explain to teenagers today that there was a time, even a short time ago, when political institutions did not seem riddled with corruption and when Americans were not split by stark economic and political lines. Such memories increasingly describe what sounds like a foreign land, not the American system we know today. The narrative is widely understood: economic gains go to the top while costs and risk are shifted onto everyone else.