Posted in Common Dreams Coronavirus News Recession

Trump’s millionaire economic adviser celebrates ‘gales of creative destruction’ as millions lose their jobs and go hungry

“Wonder how the 14% of households with kids who reported that they didn’t get enough food to eat in the last seven days feel about the ‘gales of creative destruction.’” by Jake Johnson, staff writer Friday,…

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A line of unemployed men buy apples for 5 cents during the Great Depression. (Photo: Universal History Archive/Universal Images Group via Getty Images)
Posted in Analysis Bailout 2020 Common Dreams Economy Recession

Nobel Economist Joseph Stiglitz Warns US barreling toward second ‘Great Depression’ thanks to Trump-GOP failed Covid-19 response

“If you leave it to Donald Trump and Mitch McConnell we will have a Great Depression. If we had the right policy structure in place we could avoid it easily.”   by Jake Johnson, staff writer…

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Posted in Bailout 2020 Common Dreams Coronavirus News Recession

Small businesses in US face coronavirus doomsday, big insurers say: We can’t save you. We won’t save you.

“We may not have a Main Street left if we don’t take immediate action.” by Julia Conley, staff writer As small business owners around the U.S. grapple with the financial losses they are suffering—and the suffering…

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Posted in Analysis Common Dreams Coronavirus Economy Labor Recession While we were looking elsewhere

The Senate corporate bailout package is a ‘robbery in progress,’ warn critics

“It’s not a bailout for the coronavirus. It’s a bailout for twelve years of corporate irresponsibility.” by Jake Johnson, staff writer As details of the Senate’s coronavirus stimulus plan slowly trickled in Wednesday, progressive critics characterized…

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Posted in Analysis Coronavirus Economy Recession The Conversation While we were looking elsewhere

We are entering a recession – but what did we learn from the last one?

By  Ken-Hou Lin, University of Texas at Austin and Megan Neely, Stanford University As the coronavirus continues to spread around the world, it is abundantly clear that the global economy is entering a recession – the…

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