Opinion (Michael Khazin, economist): “The word crisis is losing its original meaning. In fact, the crisis is a tangible change in the quality of life, a decent apartment, a car, clothing, home appliances – a middle-class standard.
“The problem is that the society of welfare of the middle class has encountered a problem called ‘massive credit.’ Today, the average citizen in developed countries spends 25% more than his real income. Equilibrium is achieved by the drop in the level of income of the middle class. Consumption should reach a new equilibrium point – when the mass consumer’s spending will fall by 50% from the current level, that is, will fall twice as much.
“The whole world that stands on the middle class awaits the painful disappearance of the middle class – that will be a real crisis.
“They will become the lumpen, and as a consequence, there will be increased drug abuse, falling birth rates, lowering of cultural level. So, the real crisis is not the economic but social problem.”
My Comment: When we now turn to the middle class, we are met with a complete misunderstanding and inattention to our ideas about the re-education of society and individuals. After all, they still do not feel any threat, and due to their shortsightedness, of course, they do not wish to take part in changing themselves and society.
But the blow will come, and we need to prepare for their readiness to get closer to us. In the meantime, we need to work with part of the lower-middle class, which already feels the crisis and despair.