US Firms Shield CEO Pay As Pandemic Hits Workers, Investors

By Jessica DiNapoli and Ross Kerber, Reuters. -

New York/ Boston - Sonic Automotive Inc (SAH.N), which operates 95 U.S. car dealerships, started laying off and furloughing about a third of its workforce as the coronavirus pandemic crushed its [...]

The Disconnect Between The Stock Market And The Real Economy Is Destroying Our Lives

By Hamilton Nolan, In These Times. -

In the month of April—as 30 million Americans filed for unemployment, and destitute small businesses closed forever, and rent strikes were demanded, and city and state governments forecast years [...]

The Myth Of V-Shape Economic Recovery

By Jack Rasmus. -

The spin is in! Trump administration economic ‘message bearers’, Steve Mnuchin, US Treasury Secretary, and Kevin Hasset, senior economic adviser to Trump, this past Sunday on the Washington TV [...]

Why The Oil And Gas Industry Will Never Be The Same

By Marshall Auerback, Brave New Europe. -

When a staple commodity collapses to negative value it signals that something is clearly amiss in the global economy. When it is a global energy source like crude oil, it does not just signal [...]

An All-American Urge To Offer Corporate Welfare

By Nomi Prins, TomDispatch.com. -

To say that these are unprecedented times would be the understatement of the century. Even as the United States became the latest target of Hurricane COVID-19, in “hot spots” around the globe a [...]

Not This Time: Watch Out For Wall Street In A Pandemic

By Staff, Takeonwallst.com -

We have entered uncertain times. The novel coronavirus has upended life around the globe, and none of us knows exactly how long the outbreak or its ramifications will last. But daily reminders of [...]

Twenty-First Century Neoliberalism Is Failing – Where Do We Go From Here?

By Margaret Flowers and Kevin Zeese, Clearing the FOG. -

Stock markets around the world have become very volatile over the past few weeks with record losses. We are in a global recession, which could become a depression in the United States. Panic over [...]

We’re In A Recession, And It’s Likely To Get Worse

By Kevin Zeese and Margaret Flowers, Popular Resistance -

The coronavirus epidemic is creating an ongoing teachable moment that could be used to transform the US economy. COVID-19 and the oil war are triggers leading to a recession that has its roots in [...]

Hoodwinked: How Wall Street And Big Real Estate Turned Anti-Discrimination Policies Against Blacks

By Julia Thomas, Blackagendareport.com -

In 1970, Janice Johnson, a Black single mother in Philadelphia, was facing eviction from an old apartment building condemned by the city. She was desperately seeking a place for her and her [...]

Climate Movement Takes Aim At Wall Street, Because ‘Money Is Only Language Fossil Fuel Industry Speaks’

By Jessica Corbett, Commondreams.org -

Organized by a coalition of climate, youth, and Indigenous groups, Stop the Money Pipeline will officially launch Friday at the final event in a weekly civil disobedience series that actor and [...]

The People vs Wall Street: California’s Public Banking Shakeup

By Glenn Daigon, WhoWhatWhy.org. -

For only the second time in 100 years, a people-powered coalition overcame the stiff opposition of the banking lobby to successfully pass a law that legalizes public banking. Governor Gavin [...]

How A Public Bank Could Free S.F.’s Money From Wall Street

By Ida Mojadad, Sfweekly.com -

Of all the vivid characters in Hustlers, from Jennifer Lopez’s magnetic Ramona to Cardi B portraying her own lived experience, the 2008 financial crash is the one that will be familiar to most [...]

Central Banks Bailing Out Wall Street And Big Finance As Crash Looms

By Nick Beams, Wsws.org -

Two actions by US financial authorities this week indicate that the United States will respond to a looming downturn in the global economy by providing, once again, unlimited amounts of cash to [...]

Just Like The “Money Trust” Before It, Wall Street Is A Threat To Democracy

By Carter Daugherty, Take On Wall Street. -

We don’t speak of the “Money Trust” in the 21st century. But perhaps we should. These two words had a powerful resonance in the early decades of the 20th century as a label for the tiny number [...]

The 1% Rules, The 99% Lets Them!

By Ralph Nader, Nader.org. -

There has never been more access to food – domestic and imported – yet hunger is an ongoing problem everywhere. In the U.S. alone, 16.5 million children go to bed hungry and 20% of community [...]