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Trump, Meadows, Mnuchin and McConnell cleverly set up and sucked in Pelosi and Shumer into negotiations last week, never planning to conclude a deal by Friday, in the process getting them to [...]

The U.S. economy shrunk at a seasonally adjusted annualized rate of 32.9 percent during the second quarter of 2020 as the first wave of the coronavirus pandemic spurred an economic collapse of [...]

The Federal Reserve Board – our unaccountable Central Bank – needs more citizen and Congressional supervision. Fees from financial institutions fund its operations, not Congressional [...]

The US economy at mid-year 2020 is at a critical juncture. What happens in the next three months will likely determine whether the current Great Recession 2.0 continues to follow a W-shape [...]

The International Monetary Fund (IMF) has released its June 2020 update. The prognosis is bleak. Global growth for 2020 is projected at -4.9%, 1.9% below the IMF’s forecast from April. ‘The [...]

It is increasingly likely that things are about to get worse in terms of US public health. And as that happens, so too will the US economy experience a further negative impact from the virus. A [...]

Rent strike organizing will not become widespread just because people are desperate.  These material circumstances need to be joined by the understanding that another world is possible.  That [...]

The Bank of England has warned the UK economy could, in the midst of the coronavirus outbreak, shrink by as much as 14% this year, which would be the biggest slump in 300 years. In the current [...]

You know that things are getting serious when #GeneralStrike starts trending on Twitter. It happened last week when Donald Trump was publicly mulling the idea of sending Americans back to work by [...]

A month ago, in late February 2020, I was convinced the recession I have been predicting since January 2019 had arrived. Two weeks ago I began writing this would be another ‘Great Recession 2.0’, [...]

The financial crisis began in late February, when the World Health Organization announced that it was time to prepare for a global pandemic. The Russia-Saudi oil price war added fuel to the [...]

The Coronavirus has been wrecking the US and global economies. While focus has been on addressing the biological devastation wrought by the virus, the economic devastation keeps growing. Failure [...]

In a normal recession, the proper goal of a policy response is pretty simple: increase output and employment by directly or indirectly increasing aggregate demand. Many proposed responses to this [...]

The coronavirus will eventually pass, but the same cannot be said for the Panglossian phenomenon known as “globalization.” Stripped of the romantic notion of a global village, the ugly process [...]

This morning, Monday, March 9, financial asset markets continue to implode: US stocks are further collapsing -6% (Dow down 1650, Nasdaq >500 mid-day). Ditto Asian and Europe stock markets -6%. [...]