How classist was the ideology driving the inflation of the debt bubble?

Not answerable beyond the simple affirmative, of course: "It was extraordinarily classist."  But still worth a comment.  The dominant, driving assumption (yes, assumption is drive, assumptions after all are assertive) was that the the species-being of humanity was a certain becoming-American and, distinctly, a becoming-European.  (The overarching becoming-Western doesn't work, as the mutual transatlantic contempt continues to alter these bourgeois territories enormously.)  It based the mechanism of this becoming on the continuing-to-be-American of British and American consumers specifically.  The desires of these particular joe-the-plumbers were to drive them to increase a debt-emburdenedness which they would, stupidly, honor.  This piggish consumption would cause the Chindians to engage in similar debt-based contractual obligations as they increased their consumption of meat, oil, and received opinions.  Instead, the Yanks defaulted and the Chinese saved.

No-recourse

This system broke down at so many points that it now appears with the arrogant, brutish naiveté of a medieval political theology.  You cannot secure against default and the withering of desire for tat; least of all by deploying a doctrine of human nature as deluded and constrained as that of original sin.

Yes, but will it succeed?