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AGelbert

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Prof. Richard Wolff 👍 on Pandemic 💩 Economics
« Reply #780 on: March 21, 2020, 11:48:54 pm »
Prof. Richard Wolff on Pandemic 👹💵🎩 Economics
22,157 views•Mar 20, 2020


The Zero Hour with RJ Eskow
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Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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Quote
“Economists at Goldman Sachs are now forecasting a staggering 24% decline in US GDP in the second quarter of 2020.

🚨 Coronavirus May Lead to ‘Largest 🌠 Decline in Shipping Volumes in Living Memory’

By Reuters on Mar 23, 2020 12:28 pm

Container Port By Gavin van Marle

 (The Loadstar) – As the retail industry across Europe and North America begins to effectively shut down as governments enforce widespread social lockdown, there are increasing warnings that the container shipping industry is set to see some of the largest declines in volumes in living memory. According to liner analyst SeaIntelligence Consulting, the […]  Read full story...
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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Wallenius Wilhelmsen Mothballs Vessels, Cuts Dividend

By Reuters on Mar 23, 2020 11:02 am

Wallenius Wilhelmsen ship

OSLO, March 23 (Reuters) – Shipping firm Wallenius Wilhelmsen, which transports cars and other vehicles from factories to markets, has cut its dividend to zero and will mothball up to 10 vessels as demand plunged amid the coronavirus outbreak, it said on Monday. The company also plans to scrap up to four older vessels, it added. Oslo-listed […]  Read full story...


Saudi Arabia 🦖 Tanker Power Play Could Backfire as Oil Demand Shrinks  

By Reuters on Mar 23, 2020 10:52 am

🦖 Tanker ships at anchor

By Jonathan Saul and Dmitry Zhdannikov LONDON, March 23 (Reuters) – Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments. That could leave the kingdom stuck with tens of millions […] Read full story...    

 
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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Oil is a SELL!
« Reply #783 on: March 23, 2020, 02:24:07 pm »




Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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by Tyler Durden

Mon, 03/23/2020 - 16:00

SNIPPET:

The 🎩 Fed unveiled its ultimate bazooka today - unlimited buying of pretty much any- and every-thing until this all calms down. The problem is - it didn't reassure investors as they've had 10 years of knowing that whatever The Fed 'creates' is simply money-printed delusion that does not reflect any real economic progress.


Read more:

Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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Economic Update: Comedy and Tragedy of Capitalism
« Reply #785 on: March 23, 2020, 10:22:18 pm »
Economic Update: Comedy and Tragedy of Capitalism
18,065 views•Mar 23, 2020


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[S10 E12] Comedy and Tragedy of Capitalism

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Shop our Store: http://bit.ly/2JkxIfy[S10 E09] When Stale Debates Distract
Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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Agelbert NOTE: It is just amazing 😉 that the stock markets have a "circuit breaker" (the first one at -7%) to stop trading when it is going DOWN, but no "circuit breaker" when it is being bought UP (with 💵🎩 Fed money that WE-THE-PEOPLE must pay back WITH INTEREST).

The Dow is now UP 9.75%.  
We have had 10 years of knowing that whatever The Fed 'creates' is simply money-printed delusion that does not reflect any real economic progress.



The TRUTH that you will never read in US Capitalist La-la-land: The trouble with Capitalism is that you eventually bankrupt EVERYBODY creating fiat money out of thin air trying to save the elite CAPITALIST  PARASITES.

Free Market, my ass.

Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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  This is interesting . I took a screen shot because I expect it will be erased into the memory hole pretty quick. The Fed  countered it quickly but SOMEBODY just put in a MASSIVE SELL BID. :o ;D


As an aside to show how this Fed funny money is not fooling ANYBODY out there, yesterday, gold went up, Today it's gone up even more. This is a bog deal because the gold marlet is constantly being manipulated DOWN by the Fed. It's part of the plan to herd people into stocks with the (totally fake) Fed inflated valuations. The fact that gold is up over 5% two days in a row is evidence that the Fed's market manipulations are seen as a fraud AND the Fed is failing at keep the lid on gold prices. I don't buy stocks or gold. You can't eat gold. I mention this because market participants are at war with Fed fakery. Good!
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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WOW! Pass this on! The Fed will erase it! The SELL BIDS ARE MASSIVE!


As I expected, the Fed just erased it. >:( https://finviz.com/

However, the above is REAL. That means this funny money move by the Trumpian 👹🎩 Fascist Fed is going to FAIL BIG TIME!


Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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Agelbert NOTE: It is just amazing 😉 that the stock markets have a "circuit breaker" (the first one at -7%) to stop trading when it is going DOWN, but no "circuit breaker" when it is being bought UP (with 💵🎩 Fed money that WE-THE-PEOPLE must pay back WITH INTEREST).

The Dow is now UP 11.46%.  
We have had 10 years of knowing that whatever The Fed 'creates' is simply money-printed delusion that does not reflect any real economic progress.



The TRUTH that you will never read in US Capitalist La-la-land: The trouble with Capitalism is that you eventually bankrupt EVERYBODY creating fiat money out of thin air trying to save the elite CAPITALIST  PARASITES.

Free Market, my ass.

Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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The Fed just ROBBED we-the-people BLIND to save Trump's ASS.



Tue, 03/24/2020 - 16:45

Authored by Alastair Crooke via The Strategic Culture Foundation

SNIPPETS:

How is this money suddenly available – when we have repeatedly been told in the wake of the 2008 crisis that austerity must be the only answer? Well, welcome to the ‘new orthodoxy’ (actually it is not new at all: France tried it in the eighteenth century when it ‘printed’ the Assignats). Call it ‘helicopter money’, or, the so-called ‘Modern Monetary Theory’: The principle is that it is okay to print money – if governments don’t otherwise have it. The point here is that ‘helicopter money’ (money conjured out of nothing: empty units reflecting no underlying real economic value) is a paradigm change. A major paradigm change. ... ...

The effect of a war-like command economy will not be to sweep society or the economy onto a new course, but rather, will be to re-situate it into the old grooves. Will anyone believe that in this new ‘command economy’ era, the government directed bailouts and the credit lines, will not be channelled principally to the political élites and their allies?

Yet, just as after the sacrifices of two World Wars, there was ‘New Deal’ mood apparent amongst the people. So it was too, in the wake of 2008: There were calls for reform to a system that entrenched the richest one per cent; but instead we got austerity, and a return to business as usual. Policy was deliberately designed to prop up the old system, and make it function as before. Reform denied.

Today, people are fully focused on managing their lives under virus lockdown, but the political pendulum has been swinging markedly (so-called populist politics) against what is widely perceived as a politically and economically ‘rigged system’.

Full article:


Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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Wall Street Before Main Street: COVID-19 Relief Plans Will Hurt Workers
2,800 views•Mar 24, 2020


The Real News Network
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What relief will American workers get after the government poured $2.2 trillion into banks and businesses? Economist Dr. Jack Rasmus explains why the bailout for workers needs to be as big as the bailout for banks.

Subscribe to our page and support our work at https://therealnews.com/donate.
Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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We Must Bail Out Workers, Not Just Corporations
« Reply #792 on: March 24, 2020, 09:57:38 pm »
We Must Bail Out Workers, Not Just Corporations
19,037 views•Mar 24, 2020


Bernie Sanders
394K subscribers

We cannot just give corporations money to do anything they want. We have to ensure that money is going to protect working people.
Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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March 24, 2020

SNIPPET:

Americans are waking up to the fact, today, that their President wants to “reopen the economy,” which, of course, means millions of people having to back to work…risking their lives…being infected by a global pandemic…infecting their loved ones. What the?

Forgive me. I’m going to be blunt, maybe even a little harsh. But then I’ll be gentle, and we’ll talk about all this like adults, and maybe you’ll gain something from reading about why American can’t seem to deal with a pandemic well (but you can be the judge of that.)

Nobody should have expected a society as ruthlessly and lethally capitalist as America to save the average prole during a pandemic…instead of exploit them all the harder. If you expected America to save you…you shouldn’t have. What was never expendable to capitalism was another quarter of profits…another few million dollars for billionaires…higher stock prices. What was expendable was you.

(Now, “capitalist society” doesn’t mean your local tiny microbrewery, bakery, or drycleaner. Sorry, I’m not a die hard Marxist. I love business, trade, commerce, enterprise, which are what your local bakery and microbrewery are. But capitalism, predatory capitalism, America’s weirdly Soviet totalitarian capitalism — as in more money, at any cost, for vast corporate entities, who are super-people, bending every social and political and economic institution to that single one-dimensional end — is something that, at this juncture, all sane people should find problematic. Why?)

Let me explain, beginning with a simple observation.

Capitalist societies have long had enough homes to house everyone, enough money to pay everyone a decent income, enough food to feed everyone, more than enough professors and teachers to educate everyone, enough medicine to treat everyone. And yet they’re never once — once in history — given any of those things to people. In more technical terms, capitalist societies have huge surpluses of resources — and yet people struggle as entire classes and groups for just those very things. Don’t you find that odd? Striking? Bizarre? I do. It raises the question: if a society has ample resources to give everyone a better life — why on earth does it keep them from people?

There’s really only one possible answer to that question. It goes like this. In a capitalist society, you aren’t seen as deserving of those things. Those are things which must be “earned.” But that also means: nobody has intrinsic or inherent worth. Because, of course, the definition of “inherent or intrinsic worth” is that I have a basic human right to things like housing and healthcare and medicine and so on.

I want you to think about this point carefully, closely, to really interrogate it until you get it.

If a society has ample food, medicine, money, homes — and yet people still struggle for all these things, the only conclusion is that society must not think people have any inherent worth. Why else would a society deny its own people the things it already has? And yet that is precisely where 75% of Americans are. America’s a society with ample homes, money, medicine, food, and so on — and yet that’s how many Americans struggle to “afford” these things. What the?

All that’s what Marx called exploitation and immiseration. Exploitation — you have to work for things that should be basic rights. Immiseration: society has more than enough to provide all these things for you, but for some reason that you can’t quite fathom, nobody much has them. The reason is the system, the ideology, the belief. Nobody has intrinsic or inherent worth. The only point of all human existence, endeavour, thought, action is one-dimensional: making more profit.

That is the fatal flaw at the heart of capitalism.
Again, I want to distinguish it from everyday business, commerce, trade. You might be a great, awesome, wonderful CEO of that small or medium sized business, and give all your employees all the above, unconditionally. Excellent. Capitalism, on the other hand — McKinsey’s storm troopers marching into a boardroom, demanding “rationalization”, Goldman Sachs selling poisoned derivatives to small towns, both investing in concentration camps — isn’t interested in any of those things.

“Capitalism doesn’t allow you to have any inherent worth” can be put in a simpler way: it’s indifferent to life and death. Yours, in particular. It literally doesn’t care if you live or die. In many respects, it’s happier if you’re dead. If you’re a burden — in the form, of say, taxes for social systems. If you’re “unproductive” or “inefficient.” If you cost it money, capitalism is much happier with you dead than alive.

You’d be fair to think I was exaggerating…until, well, right now. Because right now, capitalism is demanding that Americans go back to work, risk their lives, spread a pandemic, see their loved ones die…all so that profits can continue their upward spiral. Can there be a more powerful, direct, and visceral example than that of all the above? That capitalism’s indifferent to you living or dying? That it prefers you dead over alive, the moment you cost it money? That in a capitalist society, nobody has intrinsic or inherent worth — in this case, the most fundamental aspect of it, which is…living itself?

A capitalist society is run for one purpose. I’ve already alluded to it above. The only point of it all, and all means every single thought, action, idea, interaction, behaviour in a society, is this: to maximize profits. There’s a point at which profit is earned fairly, sure — think of the local microbrewer or baker. But to capitalism, the quest for profit is endless and perpetual, which demands, in turn, harder and harder exploitation — to the point of true immiseration.

Again, you’d be forgiven for thinking I was exaggerating not so long ago. But today?

Consider this. Americans work harder than anyone else in the rich world — harder than most people in the poor world. And yet their incomes haven’t risen in five decades. They don’t have decent healthcare, education, retirement, childcare — any kind of social system. Meanwhile, those who “own” the super-people known as “corporations” — entities with superhuman rights and powers — went from millionaires to billionaires to mega billionaires. Exploitative enough for you?

But that was yesterday. Today, Americans are being exploited even harder than that. They’re being made to go back to work in the face of a global pandemic. What the? How much more exploitative can a system even get? Maybe gulags, I suppose. But how different is it really being made to go back to work and risking sure death? Americans are reaching the outer limits of exploitation. What else are we to call being made to work when a fatal disease ravages a rich country?

Yet there’s exploitation, and there’s immiseration. Exploitation is what’s easy to see: America’s bigwigs take a massive, unfair slice of the pie, thus driving the people formerly known as the middle class into poverty. Immiseration is what’s harder to see: the idea that a society has enough to go around — a surplus. And yet that surplus can never be shared, precisely because capitalism can’t allow such a thing to happen, because then profits would crater.

I’ve already pointed out how America has ample homes, money, food, medicine, and so on — and yet Americans struggle to “afford” just these things. That’s immiseration. Now let’s apply that concept to Americans being made to work during a pandemic.

The point is this: Americans don’t need to work during a pandemic. There is literally no reason for them to. They don’t need to be made to “work” for basics like homes, medicine, money, and food — society has a massive surplus of all these things already. They don’t need to “work” during a pandemic for a similar reason. America is easily rich enough to simply support the whole economy for a few months during the pandemic — which is the wise and right and fair and moral thing to do. Nobody needs to work. Not just because America is a rich society — but because the only “work” that really needs to be done during a pandemic is tending to the ill, feeding the indigent, making sure the disease’s spread is slowed, and so forth. The “work” that Americans are to be made to do has literally nothing to do with any of that very real labour. (Does anyone really need a new home built right about now? How about a trip to the dentist? Or a pair of new designer jeans? Maybe you see what I mean.)

Continue reading:
« Last Edit: March 25, 2020, 01:57:03 pm by AGelbert »
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

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The Writing on the WALL (Street)
« Reply #794 on: March 25, 2020, 04:40:22 pm »


Wed, 03/25/2020 - 13:50

by Tyler Durden

SNIPPET:

While most have pledged to remain closed for at least two weeks, many if not all will likely have to stay closed for much longer, because as we showed earlier, the US is very early on the coronavirus curve, and many weeks have to pass before the peak is hit.


🚨 Full (IRREFUTABLY) REALITY BASED article:


Agelbert NOTE: Car sales have already historically cratered during this month. That, plus what you will read in the above article, will just cause the economy to get Economic Depression Level BAD for SEVERAL MONTHS, if not at least a YEAR (if we are lucky). The COVID-19 PEAK in the USA is going to be around June 15, 2020. It will take at least another month for the hospitals to get to anything resembling normal.

What too many wishful thinkers do not get is the FACT that COVID-19 is NOT the central issue here or the main threat to the US Economy; it is merely the "Straw" that broke the "Camel's Back" of an ALREADY SEVERELY STRESSED, OVER-INDEBTED, MULTIPLE-BANKRUPTCY IMPACTED, MASSIVE POVERTY INCREASED ECONOMY.

Anyone who thinks this is all going just "go away" with Fed funny money printing is in CAPITALIST LA-LA-LAND (i.e. ).
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

 

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