Economy

(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 […]

Epidemics

As 38.6 Million File for Unemployment, Wealth of Billionaires surged $435 Bn

Inequality.org

By Omar Ocampo and Chuck Collins | – ( Inequality.org) – The number of U.S. citizens filing for unemployment increased to 38.6 million since March 18, according to the Bureau of Labor Statistics. Over the same two months, the wealth of U.S. billionaires has surged $434 billion – an increase of 15 percent. The combined […]

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 […]

Epidemics

Business as Usual won’t Survive the Pandemic: The Race to Replace a Dying Neoliberalism

Foreign Policy in Focus

By Walden Bello | – The morning will come When the world is mine. Tomorrow belongs to me! From Cabaret (Foreign Policy in Focus) – In response to the cataclysm occasioned by the coronavirus, three lines of thinking are emerging. One is that the emergency necessitates extraordinary measures, but the basic structure of production and […]

Corruption

Congress’ Relief Package was for Small Business, but pro-Trump Millionaires Grabbed up the Lion’s Share

Jim Hightower

( Otherwords.org ) – Thanks to a specially carved loophole, one multi-millionaire claimed 339 times more than the average small business received. By Jim Hightower | May 20, 2020 Monty Bennett was just another faceless right-wing millionaire on the long list of high-dollar donors to Donald Trump — until he suddenly surfaced in April as […]

Climate Crisis

Frankenfuel: The Market is done with Big Oil and Coal, but will they Lumber on with Gov’t Subsidies?

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Are the big oil stocks headed for collapse? Citizens as diverse as climate activist and 350.org founder Bill McKibben and CNBC finance guru Jim Cramer seem to think so. Here is Cramer as reported by Axios in early February even before the historic plunge in crude prices.\ […]

Epidemics

As 27 Million Lose Job-based Health Insurance, Imagine if there were No Obamacare

The Conversation

By Simon F. Haeder | – The loss of 31 million jobs due to coronvirus has an added downside: 27 million have lost job-based health insurance. The worst may still lie ahead. One study estimated that 25 to 43 million people could lose coverage from their employer. The situation for many Americans feels dramatic. Fortunately, […]

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 […]