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The number of families living on $2 or less per person per day for at least a month in the USA has more than doubled in 15 years to 1.46 million.
That's up from 636,000 households in 1996, says a new study released by researchers at the University of Michigan and Harvard University.
Government benefits blunt the impact of such extreme poverty, but not completely, says one of the researchers, Luke Shaefer, a professor of social work at Michigan.
Suffocating your citizenry with stagflation is a problem, particularly when that citizenry is young, hungry, and unemployed. By definition this is the Egypt we're seeing today. While this may be a very old country (established in 3100 BC), this 21st century social revolution is being driven by the very young. Almost two-thirds of Egyptians are under the age of 30, and of the 79 million people who live in Egypt, approximately 40% of them live on less than $2 a day.
The Egyptian government has been telling its people that inflation is currently running around +12%. The people of Egypt obviously don't believe that -- and they shouldn't. However, they do believe that the country is running double-digit unemployment. They don't have jobs.