What famous guy said "slowly, then all at once" about going broke or bankrupt? I suspect that is the way the middle and lower class is right now. As long as the money creation spigot keeps flowing things will not seem so terribly bad. But how long will it take for the bond market to puke? Japan has been able to kick the can down the road many, many, many more years than I thought they could. Maybe the US can do the same. 

Ernest Hemingway. That was the guy. Had to look it up.