Due to Years of Austerity, Cuts to Public Health Care, And An Anti-Science and Profiteering President, The United States Now Leads the World In Coronavirus Cases and Deaths in the World! And Now the Total Caronavirs Deaths in the United States are Over 20% of the Total Death in the Entire World!
Capitalism Does Not, and Never Has, Worked for the Masses! In Its Death Agony, Capitalism Is Traveling About The World Like The Four Horsemen of the The Apocalypse, Spreading War, Famine, Pestilence, and Death. The very future of Humanity Is Now At stake!
During This Economic Crisis, Capitalism’s Three-Point Political Program: 1.Austerity, 2.Scapegoat Blacks, Minorities, and ‘Illegal’ Immigrants for Unemployment, and 3. The Iron Heel! Always Remember: That President Obama, With a Majority Democrat Legislature Supported the Wall Street Bailout and Remember, That he Established, in writing, the United States Capitalist Austerity Program. — The Race to the Bottom/Pauperization of the 99%!
Democracy?:As the Capitalist Robber Barons Steal from the 99%, Only the 1% Voted For Austerity! The 99% Should Decide On Austerity — Not Just The 1% Who, Profit From Austerity!! Under Austerity, All of the World Will Eventually Be Pauperized, Humbled, and Desecrated Like Greece and Puerto Rico.! Socialism Means True Democracy, that the 99% Will Rule, Not the Few!
“If his death ends up changing the world for the better, and I think it will, then he died as he lived. It is on you to make sure his death is not in vain.” —Philonise Floyd
Another timely example of how the Fed is exacerbating wealth inequality in the United States is the hundreds of billions of dollars in repo loans it is making weekly to Wall Street trading firms at the unheard of interest rate of 1/10th of one percent. This rate has been in effect for these loans since the middle of March. These firms could do nothing more complicated than re-loan this money out as margin loans to hedge fund traders and make effortless, windfall profits. But struggling consumers are still being forced to pay the bank parents of these trading firms upwards of 17 percent interest or more on their credit cards. Why isn’t Jerome Powell using his bully pulpit to call for banks to pass along their savings on borrowing costs from the Fed by lowering credit card rates to consumers?Why has the Fed loaned out more than $9 trillion cumulatively since September 19, 2019 to these Wall Street trading houses while the country is still waiting for the first loan to be made by the Fed to the Main Street Lending Facility? — Fed Chair Powell Attempts to Blame U.S. Inequality on Globalization – Gets Smacked Down by Bloomberg Reporter
The United States is not a Democracy (A government in which the supreme power is vested in the people and exercised by them directly)! Only the 1%, through their ownership of the Reublicrats and who profit from war and the war budget, vote for War and the war budget — A policy, which Gore Vidal called a Perpetual War for Perpetual Peace. — The 99% Should Decide On War — Not Just The 1% Who Profit From War! Under a Democracy, The 99% would have the right to vote on the policy of Perpetual War for Perpetual Peace! The United States takes from the poor and gives to the Rich.
Shadow Government Statistics Alternate Inflation Charts The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here reflects the CPI as if it were calculated using the methodologies in place in 1980. In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living.
Fed Chair Powell Attempts to Blame U.S. Inequality on Globalization – Gets Smacked Down by Bloomberg Reporter Federal Reserve Chairman Jerome Powell’s press conferences are typically snooze sessions. Yesterday’s virtual press conference got off to a similar start with mainstream media reporters asking about inflation and monetary policy instead of the more critical questions they should have been asking in the midst of the worst labor market and business closures since the Great Depression and food pantry lines that stretch for blocks. By Pam Martens and Russ Martens
International Reports From the Black Lives Matter Movement The Black Lives Matter movement has rapidly spread across the world in the wake of the murder of George Floyd by police in the USA. The size and strength of the solidarity demonstrations internationally has revealed widespread outrage at police violence and the system that engenders it. Comrades of the International Marxist Tendency have taken part in demonstrations in countries such as: the USA, Canada, Britain, Belgium, Mexico, Switzerland, Italy, Denmark, Germany, Greece and Sweden. Below is a selection of reports from Britain, Germany, Switzerland, Italy and Canada.
Health, Science, Education, and Welfare:
The government of the United States can pass laws in a few days to spend tens of trillions of dollars for war and the bailout of Wall Street and the bankers. Yet, those who ‘governn’, pass universal healthcare for themselves, but they cannot spend even one trillion dollars for universal health for those who are ‘governed’! This is what is considered, by the powers to be, a democracy and part of the democratic way. — Roland Sheppard, Let the People Vote on Healthcare
Students and Staff Oppose COVID-Inspired Disaster Capitalism on US Campuses More than 80 years ago, during the Great Depression, college endowments fell by 26 percent and donations fell by more than 70 percent. But rather than cutting back on what was being offered on U.S. campuses, the federal Works Progress Administration (WPA) hired 8.5 million people to lay more than 9,000 miles of storm drains and sewers, and build 4,000 new school buildings (most intended for K-12 instruction), 130 hospitals and 100 community arts centers. In addition, during the eight years that the WPA existed (1935 to 1943), hundreds of colleges and universities benefited; by extending its reach to higher education, WPA laborers built classrooms and dormitories, and installed public artworks on campus lawns and inside buildings. The goal? To entice students to enroll and retain them until they graduated, assuring them of the skills they’d need to find work when the economy improved. Among the beneficiaries of these efforts were Alabama Polytechnic Institute (now Auburn University); Arkansas State; Arizona State; Brooklyn College-City University of New York; The College of William and Mary; Delta State; Howard University; The University of Iowa; The University of Pittsburgh; The University of Rhode Island; and Virginia Commonwealth University. Fast forward to today. Similar to the Great Depression, the current economic crisis is raising important questions about government responsibility and whether or not state and federal lawmakers will use COVID-19 to gut public programs, including access to a high-quality public education, as they push more wealth to the top. By Eleanor J. Bader