In this episode of the Summer Solutions 2019 for the Keiser Report, Max and Stacy introduce the problem: Americans “too poor to survive,” according to a study by United Way.
This makes the US, “the world's first poor rich country,” according to Umair Haque, and whilst most in the mainstream media blame avocado toast for causing so much poverty in the younger generations, recent data from Deloitte shows that, in fact, it is due to the rising costs of non-discretionary expenses like housing, healthcare, and education.
In the second half, they talk to professor Steve Keen about the problem of declining incomes and rising costs, and why MMT (Modern Monetary Theory) is not the right solution.
