While I can agree with the first part of the statement, the global meltdown was not "largely caused by US deregulation-driven con games". Regulation however well intentioned and in how it was implemented played a decisive if not the decisive role. Attempts to maneuver around regulation creating less transparency was causal. Government sponsored agencies also contributed heavily to the meltdown.

I also don't think it is true to say that there was a massive shift of assets from middle class to already very well off given that it is the rich who largely suffered the most from this meltdown (given that it was an asset pricing bubble and it is the rich who tend to be the ones who hold more assets). One thing you also notice that's really different about the US (and in many ways Canada as well) and the rest of the world is that the rich are pretty much the same people elsewhere, whereas there at least seems to be a lot more movement/mobility or the potential to be in the US.