Employment

(Tomdispatch.com) – Many economists believe that a recession is already underway. So do millions of Americans struggling with bills and job losses. While the ghosts of the 2008 financial crisis that sent inequality soaring to new heights in this country are still with us, it’s become abundantly clear that the economic disaster brought on by […]

Banking

Is Mitch McConnell Blocking further Congressional Aid to States on Behalf of Vulture Funds and Corporations with Impunity?

John Buell

Has the Senate Majority Leader lost his faith in the wisdom and predictability of markets? Crude partisanship may underlie his reluctance to enact further Covid Depression relief assistance, but the reason given was extraordinary. The Senator professed a desire to wait for the effects of the first relief package to become apparent. “I think we […]

Employment

Not much of a Safety Net: Millions of Americans lost their Health Care and Apartments when COVID-19 Took their Jobs

The Conversation

By Paul Shafer | – The United States is experiencing its steepest economic slide in modern history. Tens of millions of Americans have filed new unemployment claims as the coronavirus shutters businesses and forces companies to lay off staff. People need support to help them through the crisis in a few key ways – cash […]

Donald Trump

Why Unemployment under Trump is way worse than even the Depression-Era Numbers Suggest

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Friday May 8 unemployment statistics were as dire as many had expected. The US Department of Labor released an unemployment rate for April of 14.7%, the worst since the Great Depression and far surpassing the worst days of the Great Recession. In light of these numbers it […]

Donald Trump

Unionize! Trump has coerced Workers at Covid-19 Hot Spot Meat Packing Plants into Front Lines

John Buell

Southwest Harbor, Me. (Special to Informed Comment) – Should we be surprised that Smithfield[s pork processing plant in Sioux Falls, South Dakota was a hotspot for the Covid19 virus? No, and here is another no brainer. There are many such hotspots among meat processing plants around the US. How we handle such facts will affect […]

Donald Trump

How Trump is making the Coming Great Recession even more Massive

Reese Erlich

San Francisco (48hills.org) – The current recession was triggered by the COVID-19 pandemic. But after 11 years of economic boom, a capitalist bust was inevitable. And it’s being made worse by the Trump Administration’s blunders. Meanwhile socialist China, despite very real problems, is effectively combating the pandemic and starting an economic recovery. Here in the […]

Employment

The Fundamentalist Religion of the Market and COVID-19

Richard Foltz

Discussions on the role of religion in the contemporary world generally fail to take into consideration an argument advanced by David Loy more than twenty years ago: namely, that the dominant faith system practiced across the globe today is in fact that of so-called “free-market” capitalism, a self-serving ideology forcibly imposed by a worldwide plutocracy […]

Banking

When Renters and Homeowners and Small Businesses need a Bailout, the Fed gives it to Big Corporations

Tomdispatch

By Nomi Prins | – ( Tomdispatch.com ) – To say that these are unprecedented times would be the understatement of the century. Even as the United States became the latest target of Hurricane COVID-19, in “hot spots” around the globe a continuing frenzy of health concerns represented yet another drop down the economic rabbit […]

Employment

Pandemic will cause another Housing Crisis, and Without Strong Long-Term Gov’t Policy it Will hit Workers Hardest

The Conversation

By Roshanak Mehdipanah and Gregory Sallabank | – Millions of Americans are suddenly out of work as the financial and economic crisis sparked by the coronavirus pandemic deepens. Without an income, most of these people will have a hard time covering their expenses, including keeping a roof over their heads. But even before the current […]