>Consider the electronic products that every middle-class teenager can now afford—iPhones, iPads, iPods and laptop computers.
No teenager can afford this. They, or their parents, go into debt for it.
And that is the problem. The ability of middle class Americans to buy what they are implored by our consumerist society to buy has fallen sharply. General unhappiness and massive amounts of personal debt used to finance knickknacks is the outcome.