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Why America is the World’s First Poor Rich Country: America’s Invisible Depression

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  • Part 1: America’s Invisible Depression
  • (Why We Don’t Get That) America’s Been Ripped Apart by a New Great Depression.
  • Part 2: From the Archives | Why America is the World’s First Poor Rich Country
  • Or, How American Collapse is Made of a New Kind of Poverty

Compiled by David Culver, Ed., Evergreene Digest

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Part 1: America’s Invisible Depression

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(Why We Don’t Get That) America’s Been Ripped Apart by a New Great Depression.

‪umair haque‬ <https://eand.co/@umairh>, Eudaimonia and Co.

Jun 11, 2019 | I’ve been writing about some pretty dystopian numbers lately. The most recent ones coming out of America. They’re genuinely astonishing, heartbreaking, and alarming. Let me give you a little recap (feel free to skip it). Almost half of Americans struggle to afford a budget that includes the basics: food, housing, transportation, healthcare, childcare, and bills. 80% of Americans live paycheck to paycheck. 70% can’t raise $1000 for an emergency. The majority have nothing saved for retirement. The average American has a negative net worth — he’s never broken even his whole life long.

What do all those numbers say to you? They say three things to me, two of which I’ve already discussed. One, America’s effectively a poor country now. Two, it’s a caste society, composed of a tiny class of super rich who became ultra rich, an old poor, and a new poor, the people formerly known as the middle class. And the one I want to focus on in this essay.

https://cdn-images-1.medium.com/fit/c/100/100/0*lI5-avJvcBbQDmA2.jpeg / ‪umber haque is the Director of the London-based Havas Media Lab and heads Bubblegeneration, a strategy lab that helps discover strategic innovation.

Full story …



Part 2: From the Archives | Why America is the World’s First Poor Rich Country


https://cdn-images-1.medium.com/max/2600/1*OIOshohJ_I4zScX5kRj20Q.jpeg

Or, How American Collapse is Made of a New Kind of Poverty

umair haque‬, Eudaimonia and Co.

May 23, 2018 | Consider the following statistics. The average American can’t scrape together $500 for an emergency. A third of Americans can’t afford food, shelter, and healthcare. Healthcare for a family now costs $28k — about half of median income, which is $60k.

By themselves, of course, statistics say little. But together these facts speak volumes. The story they are beginning to tell is this.

https://cdn-images-1.medium.com/fit/c/100/100/0*lI5-avJvcBbQDmA2.jpeg/ ‪umber haque‬ is the Director of the London-based Havas Media Lab and heads Bubblegeneration, a strategy lab that helps discover strategic innovation.

Full story …

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