You are right on the money with that description. I wish more people would realize it.
I think the public has a general idea that there is an aristocracy here. Executives of the oligarchs have figured out how to give people an opportunity ***to go into debt*** and get the shiny new car, the widescreen TV, the home and its mortgage, and plenty of steak and potatos. Those that climb into that way of life will be working their butts off to make the payments.
They are definitely not free. They are lured into debt slavery. And for awhile they like it until they retire and are too old to fight.
A history professor once researched why Louis X14 had such extravagant dress and why all the aristocrats of his court were draped so richly. He found orders from the King that for every session of his court, the ladies and gents of the court were required to port new attire fashioned by the King’s clothesmakers. When this professor examined letters from the aristocracy he found many complaints that they could not afford all the gowns with so many laces and jewels, so they had to use the King’s credit provided by his good graces to be able to be members of the court.
Louis XIV ruled France largely by clothing expense.