The US is currently experiencing what might be called a ‘triple crisis’. A health crisis that shows little sign of abating. A deep economic crisis that is still in its early phases. And a ripening political crisis
Jack Rasmus
The Capitalist state in the 21st century in the USA today is engaged in a massive subsidization of Capitalism itself on a grand scale never experienced or even envisioned before
Breaking institutional racism requires an independent political movement, with a grass roots organizational structure. That independent movement is on the streets of America right now.
So wage cuts and reductions, now underway, will not result in renewed business investment and general rehiring of the 45 million laid off. Wage cuts don’t result in real investment and growth
The Fed has opened a free money spigot to investors, bankers, and to big business of all types, and has simply declared “come on in and take it.” And if the $6 trillion to date isn’t enough, we’ll provide more
The real unemployment rate is not the U-3 figure of 14.7% but easily 25% today. And the real total jobless are not the U-3 20 million, or even 23 million, but somewhere between 35-40 million… and rising
Despite the data on jobs, small business, and GDP much of the liberal economist establishment appear to be falling for the Trump administration official line and spin that there’ll soon be a V-shape recovery
History shows in crises like this–caused by war, disease, and social collapse–that capitalists and their managers often abandon their posts. Workers then must save their own jobs and take over the management of the operations of their companies
While focus has been on addressing the biological devastation wrought by the virus, the economic devastation keeps growing
Why isn’t the ‘still working working class’ being properly rewarded for the hazardous jobs they’re doing, the long hours, the unhealthy working conditions?