But Fannie Mae was a proximal cause of the collapse of the mortgage market , even though it was intended as a support for housing ownership for those with lesser means , it would up being a dump for bad loans, why should a bank try to vet a borrower when the risk is sold for a profit to the government?
The US has abolished poverty , very nearly completely.
But we have reset the baseline , my grandfather was not poor, but I earn more in a month than he did in two years , and my inflation corrected buying power is better too.
When was the last time you heard a serious discussion of Pellagra ? The poor have multiple TVs , cars, and et cetra. Diseases of obesity have taken the place of diseases of insufficient protein.
Perhaps it is not a house of cards , perhaps our stability which depends on the rich taxation of a few is sustainable , it just does not look stable or sustainable to build a pyramid with the point down.