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AGelbert

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Long Breadlines Form Outside Of Food Banks
« Reply #855 on: April 21, 2020, 10:50:02 pm »

Long Breadlines Form Outside Of Food Banks 💣
April 20, 2020 By Alan Macleod, Mintpress News. At least 10,000 cars line up in an orderly fashion in San Antonio, all full of hungry, increasingly desperate people. Thousands already arrived the night before just to get a chance to eat. “We just can’t feed this many,” said the CEO of the local food bank that Texans have descended upon. It is a scene playing out across the country; 1,300 cars swamped the drive-thru Greater Pittsburgh Food Bank. The United Center, home to the Chicago Bulls and Blackhawks, has been transformed into a huge food warehouse, as COVID-19 has driven a wedge through the cracks in American society, where...

Full article:
https://popularresistance.org/long-breadlines-form-outside-of-food-banks/

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

Surly1

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We Are Living in a Failed State
« Reply #856 on: April 22, 2020, 07:44:19 am »

Long Breadlines Form Outside Of Food Banks 💣
April 20, 2020 By Alan Macleod, Mintpress News. At least 10,000 cars line up in an orderly fashion in San Antonio, all full of hungry, increasingly desperate people. Thousands already arrived the night before just to get a chance to eat. “We just can’t feed this many,” said the CEO of the local food bank that Texans have descended upon. It is a scene playing out across the country; 1,300 cars swamped the drive-thru Greater Pittsburgh Food Bank. The United Center, home to the Chicago Bulls and Blackhawks, has been transformed into a huge food warehouse, as COVID-19 has driven a wedge through the cracks in American society, where...

Full article:
https://popularresistance.org/long-breadlines-form-outside-of-food-banks/

This can't go on forever.

Found this article yesterday which speaks to this and other concerns.

We Are Living in a Failed State
The coronavirus didn’t break America. It revealed what was already broken.


by George Packer



When the virus came here, it found a country with serious underlying conditions, and it exploited them ruthlessly. Chronic ills—a corrupt political class, a sclerotic bureaucracy, a heartless economy, a divided and distracted public—had gone untreated for years. We had learned to live, uncomfortably, with the symptoms. It took the scale and intimacy of a pandemic to expose their severity—to shock Americans with the recognition that we are in the high-risk category.

The crisis demanded a response that was swift, rational, and collective. The United States reacted instead like Pakistan or Belarus—like a country with shoddy infrastructure and a dysfunctional government whose leaders were too corrupt or stupid to head off mass suffering. The administration squandered two irretrievable months to prepare. From the president came willful blindness, scapegoating, boasts, and lies. From his mouthpieces, conspiracy theories and miracle cures. A few senators and corporate executives acted quickly—not to prevent the coming disaster, but to profit from it. When a government doctor tried to warn the public of the danger, the White House took the mic and politicized the message.

Every morning in the endless month of March, Americans woke up to find themselves citizens of a failed state. With no national plan—no coherent instructions at all—families, schools, and offices were left to decide on their own whether to shut down and take shelter. When test kits, masks, gowns, and ventilators were found to be in desperately short supply, governors pleaded for them from the White House, which stalled, then called on private enterprise, which couldn’t deliver. States and cities were forced into bidding wars that left them prey to price gouging and corporate profiteering. Civilians took out their sewing machines to try to keep ill-equipped hospital workers healthy and their patients alive. Russia, Taiwan, and the United Nations sent humanitarian aid to the world’s richest power—a beggar nation in utter chaos.

Read the rest here:
https://www.theatlantic.com/magazine/archive/2020/06/underlying-conditions/610261/

AGelbert

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The assholes are in charge.
« Reply #857 on: April 22, 2020, 12:13:19 pm »

Long Breadlines Form Outside Of Food Banks 💣
April 20, 2020 By Alan Macleod, Mintpress News. At least 10,000 cars line up in an orderly fashion in San Antonio, all full of hungry, increasingly desperate people. Thousands already arrived the night before just to get a chance to eat. “We just can’t feed this many,” said the CEO of the local food bank that Texans have descended upon. It is a scene playing out across the country; 1,300 cars swamped the drive-thru Greater Pittsburgh Food Bank. The United Center, home to the Chicago Bulls and Blackhawks, has been transformed into a huge food warehouse, as COVID-19 has driven a wedge through the cracks in American society, where...

Full article:
https://popularresistance.org/long-breadlines-form-outside-of-food-banks/

This can't go on forever.

Found this article yesterday which speaks to this and other concerns.

The coronavirus didn’t break America. It revealed what was already broken.

by George Packer


When the virus came here, it found a country with serious underlying conditions, and it exploited them ruthlessly. Chronic ills—a corrupt political class, a sclerotic bureaucracy, a heartless economy, a divided and distracted public—had gone untreated for years. We had learned to live, uncomfortably, with the symptoms. It took the scale and intimacy of a pandemic to expose their severity—to shock Americans with the recognition that we are in the high-risk category.

The crisis demanded a response that was swift, rational, and collective. The United States reacted instead like Pakistan or Belarus—like a country with shoddy infrastructure and a dysfunctional government whose leaders were too corrupt or stupid to head off mass suffering. The administration squandered two irretrievable months to prepare. From the president came willful blindness, scapegoating, boasts, and lies. From his mouthpieces, conspiracy theories and miracle cures. A few senators and corporate executives acted quickly—not to prevent the coming disaster, but to profit from it. When a government doctor tried to warn the public of the danger, the White House took the mic and politicized the message.

Every morning in the endless month of March, Americans woke up to find themselves citizens of a failed state. With no national plan—no coherent instructions at all—families, schools, and offices were left to decide on their own whether to shut down and take shelter. When test kits, masks, gowns, and ventilators were found to be in desperately short supply, governors pleaded for them from the White House, which stalled, then called on private enterprise, which couldn’t deliver. States and cities were forced into bidding wars that left them prey to price gouging and corporate profiteering. Civilians took out their sewing machines to try to keep ill-equipped hospital workers healthy and their patients alive. Russia, Taiwan, and the United Nations sent humanitarian aid to the world’s richest power—a beggar nation in utter chaos.

Read the rest here:
https://www.theatlantic.com/magazine/archive/2020/06/underlying-conditions/610261/


All true. The root cause is the Capitalist Ideology/Religion of Social Darwinism. Said Ideology/Religion considers it perfectly reasonable to devastate the biosphere, while methodically destroying the lives of most humans as a 'get rid of the "useless eaters" bonus', for elite power and profit. 👉

Now inevitable, the increasingly deadly consequences of Catastrophic Climate Change will be addressed, not in rational viable biosphere, multi-species preserving and protecting cooperative stewardship by caring humans, but by, as the linked article warns, "... the increasing insulation of the world's wealthy minority from the rest of humanity -- buying protection for their fortressed communities from the Halliburtons, Bechtels and Blackwaters of the world while the majority of the poor are left to scramble for survival among the ruins."

The assholes are in charge. They will remain in charge until their security forces get tired of watching their non-rich friends die in misery, and not one second later. That is cold comfort considering the fact that the security forces of the assholes have the same Social Darwinist Ideology...   



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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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: Virus Triggers Capitalist 🌠 Crash
12,843 views•Apr 20, 2020


Democracy At Work
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[S10 E16] Virus Triggers Capitalist Crash

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Today’s episode features an analysis (part 1) of how, why capitalism - especially in US - failed to prepare for or cope with a virus thereby enabling it to trigger another crash of capitalism (third this century: dot.com in 2000, sub-prime mortgage in 2008). In part 2, Prof. Wolff provides an analysis of  how to respond to crash better than the US govt by emphasizing re-employment in millions of new jobs rather than unemployment, emphasizing worker-coops, etc.
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Category News & Politics

Agelbert COMMENT: Prof. Wolff ✨ is  RIGHT!  As this article by Charles Hugh Smith makes crystal clear, a lot of things being held up with Fed FRAUD funny money wire and wax should have ended over ten years ago.

Wed, 04/22/2020 - 15:05

What's Collapsing Can't Be Saved: Our Fraudulent Economy

SNIPPET:

Pulling the sleeve down to hide the tracks doesn't mean the addict is cured.

Just for a change of pace, can we be bluntly honest about the U.S. economy? It's difficult to do because we've chosen to ignore all the realities, much like a family that hides all the addictions, drunkenness and lies in a dysfunctional household to maintain the outward illusion of a happy functioning family.

It's extraordinarily costly to maintain such a demanding masquerade. The psychological toll is immense, and the financial ruin that's always threatening to collapse the flimsy facade feeds the most destructive coping strategies.

Please don't claim that Daddy and Mommy aren't really addicts, addicted to lies, cheating and stealing to fund their corruption and maintain the absurdly threadbare happy-story facade of normalcy.

Being honest is painful but freeing. Once all the ugliness is exposed to sunlight, then healing becomes possible. As long as reality is cloaked, hidden, explained away, etc., the destruction only deepens until complete collapse of the masquerade is the only possible outcome.

We've reached that point: we can no longer deny the U.S. economy is little more than a grab-bag of skims, scams, fraud and corruption. Even if Covid-19 vanished from the Earth tomorrow, or the entire economy opened tomorrow, the collapsing of the fraud bubble cannot be reversed, any more than the addict can be "cured" with some makeup to mask the devastation and clean clothing to hide all the tracks.

Let's start with the most risible fraud: "value." Every skim and scam claims to be "creating value" for shareholders, customers, the planet, etc. But it's all fraud and lies. No value is being created; what's really happening is entrenched insiders have established corrupt relationships that funnel income streams into their own pockets at the expense of everyone else, who must be kept in the dark about how the skim/scam actually works.

"Value" is now defined as private gains skimmed under the false claim of "value to customers." Behind the bogus PR, product quality is ruthlessly slashed, quantity reductions are hidden by larger packaging, planned obsolescence is the Prime Directive of every corporation because all these frauds increase profits, which flow to an increasingly thin slice of America's financial elites.

The entire stock market rally of the past 20 years is nothing but a gigantic fraud based on stock buybacks funded by debt. Stocks go up because the majority owners of the stock borrow money from a banking sector that gives nearly free money to financiers and corporations. The corporate insiders buy back shares with the borrowed money, and the company services the loan.

The company's income is devoted to paying the debt taken on to boost the personal wealth of insiders. That's fraud. Or if you prefer, embezzlement.

Take away the stock buyback scam and the U.S. stock market collapses.

Take away a Federal Reserve devoted to lavishing nearly free money on financiers and corporations and the buyback scam collapses.

End of Snippet.

While CHS is right about the routine fraud we-the-people are subsjected to by TPTB, he doesn't want to go to the root of the matter, probably because he labors under the mistaken assumption that there is such a thing as "Ethical Capitalism". That is an oxymoron.

CHS, who is absolutely right about all the fraud and corruption destroying our government and our future, does not want to admit that the adjective "ethical", as applied to the "Capitalism", is a logical fallacy.

I do not hesitate to point directly to the root of the matter.

The root cause is the Capitalist Ideology/Religion of Social Darwinism. Said Ideology/Religion considers it perfectly reasonable to devastate the biosphere, while methodically destroying the lives of most humans as a 'get rid of the "useless eaters" bonus', for elite power and profit. 

SNIPPET: from Heat is Online (heatisonline) article titled: It's too late to stop climate change -- so what do we do now?

Now inevitable, the increasingly deadly consequences of Catastrophic Climate Change will be addressed, not in rational viable biosphere, multi-species preserving and protecting cooperative stewardship by caring humans, but by, as the linked article warns, "... the increasing insulation of the world's wealthy minority from the rest of humanity -- buying protection for their fortressed communities from the Halliburtons, Bechtels and Blackwaters of the world while the majority of the poor are left to scramble for survival among the ruins." ... ...

The key to our survival as a civil species during an era of profound natural upheaval lies in an enhanced sense of community. If we maintain the fiction that we can thrive as isolated individuals, we will find ourselves at the same emotional dead-end as the current crop of survivalists: an existence marked by defensiveness, mistrust, suspicion and fear.

As nature washes away our resources, overwhelms our infrastructures and splinters our political alignments, our survival will depend increasingly on our willingness to join together as a global community. As the former Argentine climate negotiator, Raul Estrada-Oyuela, said:  "We are all adrift in the same boat -- and there's no way half the boat is going to sink."   

To keep ourselves afloat, we need to change the economic and political structures that determine how we behave. In this case, we need to elevate the ethic of cooperation over the deeply ingrained reflex of competition. We need to elevate our biological similarities over our geographical differences. We need, in the face of this oncoming onslaught, to reorganize our social structures to reflect our most humane collective aspirations.

End of SNIPPETS.

All those "better angels" ETHICS BASED BEHAVIORS mentioned above,  that are desperately needed in order for our species to survive, are just NOT GONNA HAPPEN while every single member in good standing of TPTB is in the thrall of the CAPITALIST RELIGION of Social Darwinism.

There is no shortcut. We reap what we sow. All of us.

Read more: 🕯️

We Are Living in a Failed State


« Last Edit: April 23, 2020, 11:57:43 am 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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Forced to Store Fuel at Sea, 🦖 Oil Refiners at Breaking Point

By Bloomberg on Apr 23, 2020 11:21 am
Oil tanker loading

By Jack Wittels, Firat Kayakiran and Javier Blas (Bloomberg) — Oil refiners are hunting for vessels to store jet-fuel and gasoline that nobody is buying, sending freight rates sharply higher, an indication that the global refining system is fast approaching a breaking point. Until now refiners had mostly been storing unwanted product on site, but the […]  Read full story...

;D
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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AskProfWolff: "Socialism With Chinese Characteristics"
8,493 views•Apr 23, 2020


Democracy At Work
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Get your copies of Prof. Wolff's books with d@w: "Understanding Socialism" and "Understanding Marxism" https://www.democracyatwork.info/books

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We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become a part of the growing Patreon community and gain access to exclusive patron-only content, along with the ability to ask Prof. Wolff questions like this one!

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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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AskProfWolff: Worker Co-ops in Massachusetts
« Reply #862 on: April 26, 2020, 03:52:17 pm »
AskProfWolff: Worker Co-ops in Massachusetts
2,795 views•Apr 26, 2020


Democracy At Work
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Get your copies of Prof. Wolff's books with d@w: "Understanding Socialism" and "Understanding Marxism" https://www.democracyatwork.info/books

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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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Is 🦕🦖 Big Oil finally getting stranded?
« Reply #863 on: April 26, 2020, 04:41:35 pm »
Is 🦕🦖 Big Oil finally getting stranded?
6,905 views•Apr 26, 2020


Just Have a Think
61.5K subscribers

Thanks to Russia and Saudi Arabia, global oil production has not decreased in reaction to the abrupt halt in our economies. That means all the pipelines, all the oil tankers, all the refineries and all the storage facilities are full to capacity with a commodity that nobody can use right now. Oil producers large and small are haemorrhaging money in a way that is genuinely threatening to their existence, and people are learning how to work from home in a way that may mean we choose to travel far less when the pandemic finally ends. So is this a 'Perfect Storm' that spells the end for BIG OIL?

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Research Links
INTERNATIONAL ENERGY AGENCY REPORT
https://www.iea.org/articles/the-global-oil-industry-is-experiencing-shock-like-no-other-in-its-history

RYSTAD REPORT 😷 😵
https://www.rystadenergy.com/globalassets/pdfs/rystad-energy_covid-19-report_15-april_2020_final-public-version.pdf

GUARDIAN ARTICLE
https://www.theguardian.com/environment/2020/apr/01/the-fossil-fuel-industry-is-broken-will-a-cleaner-climate-be-the-result

BLOOMBERG REPORT ON REFINERIES
https://www.bloomberg.com/news/articles/2020-04-08/some-of-america-s-oil-refineries-face-closure-amid-demand-plunge

GREENPEACE ARTICLE
https://www.greenpeace.org/international/story/29458/peak-oil-decline-coronavirus-economy/

#strandedassets  #bigoil  #coronavirus
Category People & Blogs
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 Oil Driller Bankruptcies BEGIN
« Reply #864 on: April 27, 2020, 05:36:33 pm »


🦖 Diamond Offshore Files for Bankruptcy Amid Historic Crude Crash 

By Bloomberg on Apr 26, 2020 11:56 pm

By David Wethe and Jeremy Hill (Bloomberg) — 🦖 Diamond Offshore Drilling Inc., the rig contractor controlled by 😈 Loews Corp., filed for bankruptcy amid an unprecedented crash in crude prices that’s wrecking demand for oil exploration at sea. The company listed $5.8 billion of assets and $2.6 billion of debt in a Chapter 11 petition filed in […]  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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The Heisenberg Currencies, macro, commodities, geopolitics

The Heisenberg Report

Apr. 26, 2020 11:49 AM ET

SNIPPET:

The bottom line is as follows. There is no economy currently. Not in major, western nations anyway. The manufacturing sector hasn't completely rolled over yet, but the services sector simply ceased to exist starting late last month.

To help illustrate the point, I’ve updated a visual I frequently use to help capture the scope of the malaise for America’s small businesses. For those who don't follow my work elsewhere, a quick explainer is in order. The data I tap into for this comes from Homebase, a scheduling and time tracking tool used by more than 100,000 local businesses covering 1 million hourly employees.

According to numbers current through April 21, hourly employees working at local businesses are still down around 60% (and more, on weekends). Hours worked fell as much as 75% on April 12.

(Heisenberg, Homebase)

The data compares a given day to the median for that day of the week for the period January 4 to January 31. That’s how Homebase captures the effect of COVID-19.

According to the company, Homebase’s customers in the US consist mostly of restaurant, food & beverage, retail and services and are largely individual owned/operator managed. That makes this data particularly well-suited to this situation, given the pain is concentrated in the services sector, and particularly in food & beverage.

The message is clear: Main Street isn't just hurting, it is disappearing in a very literal sense. As Atlanta Fed boss Raphael Bostic warned earlier this month, "May is going to loom large, in terms of the transition of concern from this being a liquidity issue… to this perhaps translating and transferring into a solvency issue, and whether companies can exist at all."

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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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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Mehdi Hasan and Rev. Dr. William Barber II on Bailing Out People, Not Corporations
1,647 views•Streamed live 79 minutes ago


SAVE

The Intercept
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The Intercept’s Mehdi Hasan speaks with Rev. Dr. William Barber II on Covid-19, poverty, and the coronavirus stimulus bill that handed out trillions of dollars to corporations and gave crumbs to working people. How did the bill fail to meet the needs of poor and working Americans, and what would a just and equitable stimulus look like?

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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

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Economic Update: Capitalism's Unemployment Problem
46,166 views•Apr 27, 2020


Democracy At Work
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[S10 E17] Capitalism's Unemployment Problem

**We make it a point to provide the show free of ads. Please consider supporting our work. Become an EU patron on Patreon: https://www.patreon.com/economicupdate

Capitalism's recurring unemployment problem was never solved and makes the system fundamentally unstable. Today's high levels of unemployment are hugely costly in both human and financial terms. On this week's episode we analyze why capitalism prepares so poorly for and then endures its recurring unemployment. We also examine several alternatives to unemployment that would serve society better but threaten capitalism.
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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

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NY Gov. Andrew Cuomo Blasts 🐘 Republicans for Coronavirus 'Bail Out' Comments | NowThis
10,857 views•Apr 28, 2020


NowThis News
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We are the #1 giver’ — NY Gov. Andrew Cuomo set Republicans straight on exactly who is getting ‘bailed out’ by the federal government amid COVID-19.
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In US news and current events today, states across the U.S. are still dealing with the fallout from the coronavirus pandemic. New York Governor Andrew Cuomo has quickly risen as a leader with his near-daily COVID-19 press briefing, where he provides coronavirus updates and responds to the Donald Trump administration and federal government's coronavirus comments during the pandemic.

During one of NY Gov. Andrew Cuomo's recent coronavirus briefings, Andrew Cuomo set the record straight on who is bailing who out during the coronavirus pandemic. 'Nobody would be bailing out New York state. New York state has been bailing them out,' Andrew Cuomo said.

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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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