Holly M. Wood: Middle Class Debt Products

Posted by admin on Saturday, November 28, 2015

Holly M. Wood Money Quotation saying our political structure puts the bank at the center of policy-making in DC so everyone carries debt for homes, education and cars to define their success. Holly M. Wood said:
 
This bank-centric structure of American policy has gutted the middle class by making every aspect of their well-being dependent on their accumulation of debt products Quote
 

“This bank-centric structure of American policy has gutted the middle class by making every aspect of their well-being dependent on their accumulation of debt products” — Holly M. Wood

 

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In this quote, Holly M. Wood is criticizing how government policies in the United States have prioritized the banking system in a way that has undermined the middle class. She argues that America’s “bank-centric structure” has caused the middle class to rely on accumulating debt through bank loans and credit products in order to afford important life needs like education, housing, healthcare, and retirement.

By making so many aspects of financial well-being dependent on taking on debt, Wood believes this policy environment has seriously damaged the middle class over time by saddling them with long-term obligations and leaving their prosperity overly tied to the banking sector.

The overall interpretation is that Wood views this debt-based model as a key factor in the decline of the middle class standard of living.

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