It usually makes sense to follow the money when seeking understanding of almost any major change. The strategy of following the money in our current convergence of crises in late summer of 2020 leads us directly to the lockdowns. The lockdowns were first imposed on people in the Wuhan area of China. Then other populations throughout the world were told to “shelter in place,” all in the name of combating the COVID-19 virus.
Congress seems to be at war with the states. Only $150 billion of its nearly $3 trillion coronavirus relief package – a mere 5% – has been allocated to the 50 states; and they are not allowed to use it where they need it most, to plug the holes in their budgets caused by the mandatory shutdown. On April 22, Senate Majority Leader Mitch McConnell said he was opposed to additional federal aid to the states, and that his preference was to allow states to go bankrupt.
Did Congress just nationalize the Fed? No. But the door to that result has been cracked open.
Our doctors and nurses are being thoroughly mobilized and worked to limit… Many cases receive no attention at all.
— Acting Governor Calvin Coolidge, Massachusetts, 9/25/1918
In the face of the coronavirus pandemic, the most immediate objective is to slow its spread, minimise the death toll and help people through the crisis. But, despite government promises to support citizens who are now losing their jobs and income, the underlying establishment concern will be as it always has been: to preserve the global inequitable system of wealth and power.
The upcoming American elections are just around the corner and everyone is wondering if the new president will be named Trump, Biden, Sanders or none of the above.
I can hear the incredulous reader exclaim: Wait, what does “none of the above” mean?? It’s certainly going to be one of those three, isn’t it??
In what is being called the worst financial crisis since 1929, the US stock market has lost a third of its value in the space of a month, wiping out all of its gains of the last three years. When the Federal Reserve tried to ride to the rescue, it only succeeded in making matters worse. The government then pulled out all the stops. To our staunchly capitalist leaders, socialism is suddenly looking good.
