How to generate unemployment and deflation by Heiner Flassbeck, Robert Reich and Alexander Neubacher. 7/31/2020

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https://www.indybay.org/newsitems/2020/08/03/18835622.php

The theory put forward by fair-weather philosophers that the pandemic will be a salutary shock leading to a better, more sustainable world is wrong. Forced renunciation and economic decline do not make anything better. Less is not more, but less. Corona is not an opportunity, it is an evil. We can only hope that one day it will pass.

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1 Response to How to generate unemployment and deflation by Heiner Flassbeck, Robert Reich and Alexander Neubacher. 7/31/2020

  1. Marc says:

    The state that should serve the public interest, fight poverty and feed and house its people is reduced to special or private interests. On the quiet, the constitutional state becomes the security state. US taxpayers gave $107 billion more to the police than to public housing. Only Mongolia and a few other states welcome US citizens as the US is seen more and more as a “source of vulnerability.”

    Did you read the CARES act and the HEALS act? Hundreds of McDonald’s operators received millions in COVID relief, Marathon Oil received over $400 million, Exxon and Chevron received millions, and Jared the slumlord is compensated with somewhere from $35 to $150 million! (see “Thriving Companies” in the Orlando Sentinel, 5/21/2020)

    Trump has cut everything but the military! He has attacked the poor, seniors, minorities, the disabled, students and children, HUD, Medicare, Social Security, the UN, the Human Rights Commission, food stamps, Meals-on-Wheels, WIC, The Legal Corporation, everything associated with Obama, the EPA, the Judiciary, public education, checks and balances and separation of powers. The tax avoidance industry, tax havens, mini-second betting, stock-buybacks, and insider trading flourish!!

    In three months, Trump – the deficit president, the chronic liar, pathological narcissist, pathological paranoid, racist, misogynist, misanthropist, bankrupt casino owner, clear and present danger and one-man constitutional crisis – could be finally voted out of office!

    If you sleep in democracy, you wake up in a dictatorship!
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    The fire of youth will never be put out!
    Youth like the 26-community centers in Vancouver Canada represent the third way, self-government or autonomy.
    The political conformism of corporate media is a sad chapter.

    When the economy becomes a lockdown or free-fall and politics gives control to a “self-healing market” or “invisible hand,” we are victims of neoliberal myths, collective cowardice, and a fear of falling. The future that could be open and dynamic threatens to become closed and static.

    Education is the “great transformer,” said economist John Kenneth Galbraith. When hucksters like Adelson, Trump, McConnell, and Graham take over, election campaigns become mud-throwing contests bereft of principles and policy.
    Compromise, concessions and counter-measures should characterize the constitutional state so all people feel represented and the richest one-percent with 35 or 40% of all society’s wealth does not redefine life as a plutocracy.

    The tax avoidance industry, tax havens, stock buybacks, micro-second betting, and insider trading are market distortions. If Amazon has not paid federal taxes for the last three years, what lesson do other companies learn? Will our future be marked by taxes or only debts and wishful thinking?
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