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Another Example Capitalism as a Failed System: World Capilalism Was Aware of the Danger of Cornovavirus Threat 4 Years Ago and Did Nothing!
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!
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U.S.:
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 Republicrats 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.
As Senators Enrich Themselves Through Coronavius Insider Trading, They Vote Against Paid Sick Leave For the 99%!
The Cost of This Pandemic Must Not Bankrupt the People The global pandemic of COVID-19 has spread to almost every country on the planet earth. The virus will take many lives, disrupt communities and institutions, and leave behind trauma and a devastated world economy. The United Nations Conference on Trade and Development (UNCTAD) estimates that by the end of 2020, global income will collapse by between $1 trillion and $2 trillion; the latter figure is a worst-case scenario, with falling oil prices making the problem even more acute for oil-exporting countries. By Vijay Prashad – Manuel Bertoldi
The GOP’s Coronavirus Bailout Would Let Trump’s Hotels Get a Loan But Not Planned Parenthood Democrats are demanding GOP leaders remove the clause barring Planned Parenthood and increase restrictions and transparency on the loans to businesses, a senior Senate aide told VICE News on Monday. By Greg Walters and Matt Laslo
COVID-19: Prepared for the Wrong War: ‘After All Man’s Defenses Had Failed, Slain
By the Humblest Thing Put Upon This Earth’ In the War of the Worlds a microorganism felled the Martian invaders that the U.S. military (in Orson Welles’ version) could not defeat. The U.S. may dominate the world, but no army threatens its demise, says Joe Lauria. In an eerily similar way, the greatest military ever assembled on earth has been useless to defend America from the potential collapse of its society, and its empire. Donald Trump, at his daily press conferences, repeatedly says no one would expect such a thing could ever occur. Except that government studies predicted just such a thing. By Joe Lauria
Coronavirus Rips Veil Off Failing Capitalism The United States, the richest and arguably most technologically advanced nation in world history, has been dismal at responding to COVID-19. Virtual absence of testing during the first months of the disease is just one example. The World Health Organization offered free tests to countries, but the U.S. insisted on developing its own (which proved initially to be flawed). There were profits to be made, after all. Waste no pity on the poor millionaires and billionaires whose fictitious capital, not tied to anything of value in the real material world, is crashing on the stock market. But the worth of many workers’ pensions and retirement funds is disappearing too. Workers who are being forced to stay home are exhausting their paid sick leave, if they have any to begin with. Fully 69 percent of U.S. employees making less than $10.80 an hour do not. Why such ineptitude and needless suffering? Because we live under capitalism, whose engine is the pursuit of profits rather than the meeting of human needs.
$5 Trillion Reasons To Be Skeptical So do I have this right… China, a nation with more than 1.5 billion people, many living in less than modern conditions, was able to eradicate this virus within 10 – 12 weeks with a total mortality rate to the total population of .0002% (or around 3K deaths). But I look around the world and see western governments inciting absolute hysteria. And I keep saying to myself… What am I missing? Something is not adding up. Well, the Fed just quietly approved $5 trillion to bail out the repo market (essentially to cover the massive leverage built up by banks and hedge funds, again). That is equivalent to $40,000 to every American household. And it went unnoticed by 99% of America. The financial industry experts refuse to discuss that the financial sector f#ked up again for fear of repercussions from within the industry and to avoid being strung up by the public. The rest of us simply have no idea what the repo market is and so the entire bailout got ignored. Covid is the perfect cover for the greatest financial collapse in history. The policymakers are getting a pass. This is perhaps the greatest con of all time. Or we’re all about to turn into zombies. By V F
#NotDying4WallStreet Goes Viral as Progressives Reject Efforts to Put Corporate Profits Over Public Health “We will not die for oligarchs’ quarterly profit margin.” “We will not die for oligarchs’ quarterly profit margin.” By Jake Johnson
Postal Service ‘Will Not Survive the Summer’ Without Immediate Support, Warn House Dems The lawmakers’ warning follows the release of a House measure that would infuse the agency with $25 billion in emergency funding. By Andrea Germanos,
Environment:
Civil Rights/ Black Liberation:
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Too Fast to Be a Woman When South African track star Caster Semenya won a silver medal at the 2012 Olympic Games, critics claimed “she was cheating and had no right to compete with other women” because she performed more like a man,” said Anima Adjepong, professor of sociology at Simmons University. The furor showed that Black gender and sexuality are depicted as “excessive or not adequate,” said Adjepong.
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James Baldwin’s African Awakening Although famed writers James Baldwin never wrote a book entirely about Africa in his long career, his later works show him awakening to “the potential of Black internationalism” with the decolonization of the continent, according to Dagmawi Woubshet, professor of English at the University of Pennsylvania. “The early Baldwin is concerned about the kinship between white and Black America,” said Woubshet,
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Black Trillion Dollar “Buying Power” is a Capitalist Hoax For decades, politicians and business people have claimed that, if only African Americans used their alleged trillion dollar consumer purchasing power wisely, Blacks would make great economic and political strides. But Jared Ball, professor of communications at Morgan State University and author of “The Myth and Propaganda of Black Buying Power,” said the theory “does not comport with actual studies of the condition of Blacks or any other community. We are actually devolving” compared to 50 years ago, said Ball, “but the propaganda continues.”
Labor:
Economy:
Debt Forgivness and Nationalization Are the Answers to the Economic Crisis The US airline companies have bankrupted themselves by buying back their stock in an enrichment scheme for CEOs and board members . With the impact of the virus on their revenues, Congress is handing them a $50 billion bailout. Instead of being bailed out they should be nationalized. In the health and economic crisis in which we find ourselves, the government is going to need all the public trust it can get. Bailouts of those who caused their problems and ours won’t meet the fairness test. By Paul Craig Roberts
Beyond the Economic Chaos of Coronavirus Is a Global War Economy What does a virus have to do with war and repression? The coronavirus has disrupted global supply networks and spread panic throughout the world’s stock markets. The pandemic will pass, not without a heavy toll. But in the larger picture, the fallout from the virus exposes the fragility of a global economy that never fully recovered from the 2008 financial collapse and has been teetering on the brink of renewed crisis for years. The crisis of global capitalism is as much structural as it is political. Politically, the system faces a crisis of capitalist hegemony and state legitimacy. As is now well-known, the level of global social polarization and inequality is unprecedented. In 2018, the richest 1 percent of humanity controlled more than half of the world’s wealth while the bottom 80 percent had to make do with just 4.5 percent of this wealth. Such stark global inequalities are politically explosive, and to the extent that the system is simply unable to reverse them, it turns to ever more violent forms of containment to manage immiserated populations. By William I. Robinson
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Financial-System Insolvency Laid Bare by the Pandemic, as Circumstances Accelerate Towards a Hyperinflationary Great Depression
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Federal Reserve Moves Towards Unlimited Currency Creation, While the Federal Government Promises Unfettered Deficit Spending, All Looking to Bailout Wall Street and the Banks, and to Provide Some Consumer Liquidity Relief
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Extraordinarily Unstable Circumstances Continue in the Global Markets; Economic, Financial-Market and Political Turmoil Likely Have Just Begun, Despite Ongoing, Massive Systemic Manipulations and Interventions
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Holding Physical Gold Remains the Primary, Fundamental Hedge Here; Gold and the Swiss Franc Should Continue to Hold Their Own Against What Increasingly Should Be a Faltering U.S. Dollar
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Recession/Depression, Triggered by Pandemic-Exacerbated Systemic Instabilities, Should Begin to Surface With the March Labor Data Release on April 3rd
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From Pre-Pandemic Headline U.3 Unemployment Low of 3.5% in February 2020, U.3 Could Hit 5% in March and 25% in April (with April ShadowStats-Alternate at 43%)
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Quarterly Contractions/Collapses Loom for First- and Second-Quarter 2020 GDP, Respectively, of About 8% (-8%) and Nearly 40% (-40%), Assuming Current Pandemic Constraints Remain in Place, Accompanied by Major Government Stimulus through June
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Although Being Overwritten by the Crises-Driven Economic Contraction, the Still Deepening Pre-Crises Downturn Seen in February 2020 Freight Activity, Retail Sales and Production Provides a Soft Underbelly for the New Recession
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Reliability Issues Loom With Pandemic-Disrupted Economic Surveying and Numbers
This Is the Fear Chart that the Smart Money on Wall Street Is Watching The chart that tells you how all of today’s economic troubles are going to end is not the bar graph of new deaths from coronavirus in Italy versus deaths in the U.S. It’s the chart that shows the number of potential deaths among the banks and insurance companies that have gorged themselves on risky derivatives and serve as counterparties to each other in a daisy chain of financial contagion. The chart below is why the Federal Reserve is throwing unprecedented sums of money in all directions on Wall Street. Because despite being a primary regulator to these massive bank holding companies, the Fed has no idea who is actually in trouble on derivative trades, other than looking at a chart like the one above. By Pam Martens and Russ Martens
World:
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!
Why America Can’t Respond to the Current Crisis Dr. Anthony S Fauci, director of the National Institute of Allergy and Infectious Diseases and just about the only official in the Trump administration trusted to tell the truth about the coronavirus, said last Thursday: “The system does not, is not really geared to what we need right now … It is a failing, let’s admit it.” While we’re at it, let’s admit something more basic. The system would be failing even under a halfway competent president. The dirty little secret, which will soon become apparent to all, is that there is no real public health system in the United States.The ad hoc response fashioned late Friday by House Democrats and the White House may help a bit, although it’s skimpy, as I’ll explain. As the coronavirus outbreak in the US follows the same grim exponential growth path first displayed in Wuhan, China, before herculean measures were put in place to slow its spread there, America is waking up to the fact that it has almost no public capacity to deal with it. By Robert Reich
Videos of the Day:
COVID-19: Disinformation, Overwhelmed Healthcare System Fuel Crisis
Black Agenda Radio for Week of March 23, 2020 With Nellie Bailey and Glen Ford
Shadow Government Statisticss Special Commentary, Issue No. 1430 Systemic Failure Is Mounting, Hyperinflationary Collapse on the Horizon
