Page B7: Robert Frank is the author of "Falling Behind: How Rising Inequality Harms the Middle Class" He is at Johnson Graduate School of Management at Cornell University.
Did irresponsible borrowing and a lust for luxury fuel the housing bubble and subsequent foreclosures? A major factor may have been parents seeking the best schools for their children.
I do agree such analysis as I have observed the diminising financial status of the middle class in USA. My recommendations would be similar in Chinese expressions.
"Zi Xue Cheng Cai" i.e. Self-study is the best bet at one's own pace in the library. I am always a student to validate my "Work and Study Cycle Theory" to be implemented as my own lab everyday in libraries without tuition.
"Zhong Yong Zhi Dao" i.e. Moderation is the guideline to have options according to the ability of the Middle Class folks honoring the backbone of our society with middle class status.
"Bi shang bu zu" "bi xia you yu" Confucian's way in eight Chinese characters - idioms for my devotional mantra since 1940s. Francis Shieh a.k.a. Xie Shihao. April 28, 2008