Trump’s Executive Orders Are Public Relations Stunts

By Jack Rasmus, Predicting the Global Economic Crisis. -

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 [...]

GDP Shrinks By Record Amount In Second Quarter

By Sylvan Lane, The Hill. -

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 [...]

Fed Guarantees Unproductive Debt And Perilous Speculation

By Ralph Nader, -

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

The Economy: What Lies Ahead

By Jack Rasmus, Predicting the Global Economic Crisis. -

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 [...]

Here Not Death But The Future Is Frightening

By Vijay Prashad, The Tricontinental: Institute for Social Research. -

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 [...]

Second COVID-19 Wave And The US Economy

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 [...]

A Note From The Ministry Of Staple Guns

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 [...]

Bank Of England Warns Economy Could Contract By 14% In 2020

By Michael Settle, The Herald. -

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 [...]

Here’s What A General Strike Would Take

By Hamilton Nolan, In These Times. -

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 [...]

The 2020 Great Recession 2.0–Or Worse! (Part 1)

By Staff, -

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’, [...]

Socialism At Its Finest After Fed’s Bazooka Fails

By Staff, -

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 [...]

An Economic Recovery Program—Theirs vs. Mine

By Jack Rasmus, -

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 [...]

Some Economic Responses To The Coronavirus Recession

By Matt Bruenig, -

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 [...]

Coronavirus Exposes The Cracks In Globalization

By  Marshall Auerback, Independent Media Institute -

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 [...]

Global Financial Asset Deflation Underway: Prelude to Next ‘Great Recession’?

By Staff, -

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%. [...]