Too Poor To Survive + And Forgive Them Their Debts

"If you work hard all your life and die with no assets, no savings and in debt, that is not employment, it's serfdom."

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.

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And Forgive Them Their Debts

Max and Stacy are joined by Dr. Michael Hudson, author of many books, including “And Forgive Them Their Debts,’ for his ideas on solutions to the ever growing wealth and income gap currently ‘solved’ with ever increasing amounts of debt. They discuss the reason for the huge surge in this wealth and income gap that began in the early seventies as the top once percent ran off with all the productivity gains. What role, if any, does the post-Bretton-Woods-all-fiat-dollar-reserve-system play in this economic injustice? The discussion then moves to Representative Brad Sherman’s recent claim that, "An awful lot of our international power comes from the fact that the U.S. dollar is the standard unit of international finance and transactions. Clearing through the New York Fed is critical for major oil and other transactions.”