On June 2, 2020, Jan Dehn of Ashmore Investment Management Limited remarked:
If central banks were to allow asset prices to reflect the actual underlying fundamentals – record levels of debt, record low productivity growth, record unemployment, record populism – the resulting crashes in financial markets would be so large that most Western economies would be plunged into deep and lasting depressions.1
Face To Face by Nancy OhanianOver a dozen states have mandated that anyone in a public indoor space must wear a mask. CNN: "With many states starting to lift coronavirus restrictions, more people are venturing out in public, but the number of cases is still rising in nearly half of them. That's where masks come in.
The system based on a combination of police brutality, mass imprisonment, and evictions at gunpoint may be collapsing, but if it’s going to fall in the direction we want it to fall in, we need to push it that way. And if we want to make that happen, we have to organize to stop the impending wave of evictions before it starts.
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My columns haven’t been very funny recently. This one isn’t going to be any funnier. Sorry. Fascism makes me cranky.
I don’t mean the kind of fascism the corporate media and the fake Resistance have been desperately hyping for the last four years. God help me, but I’m not terribly worried about a few hundred white-supremacist morons marching around with tiki torches hollering Nazi slogans at each other, or Jewish-Mexican-American law clerks flashing “OK” signs on TV, or smirking schoolkids in MAGA hats.
An Arizona restaurant owner says that many of her furloughed employees are staying home and have told her their pay from the government is better than working at her restaurant. She says there are about 30 job openings, but rehiring is challenging because people are comfortable with unemployment benefits.
Sunflower field in Hudson — Photo by Larry Goodwin
Suffering in numbers
Great Depression
Since the 2008 economic collapse engineered by Wall Street, most of the world’s economies have been running on gas fumes and more bankrupt schemes and failed policies. Few, if any, economies have been able to return to weak pre-2008 economic growth levels. Even the Chinese and Indian economic “miracles” are not that miraculous.
[This is the final instalment of the series on ‘Life After Capitalism – Manifesto of Hope’. Earlier parts can be accessed Part I here, Part II here and Part III here.] The Employment Paradigm In this final instalment of the series, I want to discuss the vexed question of employment and what can be … Continue reading Beyond the ‘Employment’ Paradigm and Life After Capitalism – Manifesto of Hope IV →
