In this Left Out bonus clip, economist Michael Hudson answers whether millennials should get into the housing market.
"There are two classes millennials now. One class of millennials inherits houses from their parents, or have a trust fund or the parents have paid for their education in full and have helped them get a house or have given them their own house. Rich millennials who have parents helping them are in one class, and the class of self-supporting millennials--which used to be just about everybody in their late 20s--can’t afford to be self-supporting anymore, even in their 30s."
The Hudson Report is a new weekly series produced by Left Out with the legendary economist Michael Hudson. Every episode we cover an economic or political issue that is either being ignored—or hotly debated—that week in the press.
In this week's edition of The Hudson Report, Paul Sliker speaks with Michael Hudson about the state of housing in the U.S. vs. China, why unaffordable housing is not a part of true nature, and why the self-supporting class of millennials can't afford to buy homes.
"Housing is a very good investment if you have millionaire parents." -Michael Hudson
If you're enjoying Left Out and these weekly episodes with Michael Hudson, please consider supporting us by becoming a subscriber on Patreon. We need your small donations to continue providing free content: https://www.patreon.com/leftout
Political economist Ann Pettifor on what history can teach us about how to effectively challenge the despotic nature of today's global financial system.
Look out for the full episode with Pettifor on the production of money, and why fixing our economic system depends on the general public's understanding of it.
Pick up the book: The Production of Money: How to Break the Power of Bankers
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In this Left Out short, Stephanie Kelton responds to the critiques and criticisms of recent U.S. job guarantee proposals.
Professor Michael Hudson discusses the ACLU's new report on the rise of modern-day debtors' prisons in America and compares this with the role of debt in antiquity.