Daily Archives: July 1, 2020

2020-07-01: News Headlines

Rick Baum (2020-07-01). The Pandemic and Wealth Inequality. counterpunch.org The latest figures from the Federal Reserve Board on wealth inequality cover through the quarter ending in March 2020. They show a reduction in wealth inequality—something that has happened during economic downturns. More importantly, according to the Fed, wealth inequality has generally been increasing since the first covered period, the third quarter of 1989 to when it reached its highest level in the fourth quarter of 2019 during the Trump regime.

Melvin Goodman (2020-07-01). De-Militarizing the United States. counterpunch.org More than a half-century ago, exactly one year before he was assassinated, Martin Luther King Jr. brilliantly identified the keys to the American political, economic, and social crisis that has worsened over the years. At the Riverside Church in New York City, King linked the militarism of the Vietnam War; the racism of American society; and the inequality and materialism of the American economy to demand a movement toward social justice that we seek today.

commondreams (2020-07-01). Proposed Vacation Tax Credit Exposes Vacation Inequality. commondreams.org ______________________________…

WSWS (2020-07-01). COVID-19 increase at UK's 2 Sisters, Rowan and Kober meat processing factories. wsws.org Inadequate and unsafe forms of transport, poor working conditions, and rundown accommodation are class issues bound up with the wealth extraction demanded by capitalism.

WSWS (2020-07-01). Record 47.2 percent of working-age Americans without jobs. wsws.org According to the employment-population ratio, a more accurate measure of joblessness than the unemployment rate, a postwar record number of Americans were without work in May.

Jessica Corbett, staff writer (2020-07-01). Big Pharma Trade Group Blasted as 'Morally Bankrupt' for Suing to Block Minnesota Insulin Affordability Law. commondreams.org The law is named for Alec Smith, an uninsured 26-year-old who died in 2017 after rationing his insulin. | www.commondreams.org/sites/default/files/styles/cd_special_coverage/public/headline/thumbs/gettyimages-121919080211.jpg

Prof Michel Chossudovsky (2020-06-30). VIDEO: The 2020 Economic Crisis. Global Poverty, Unemployment and Despair. globalresearch.ca A complex decision-making process is instrumental in the closing down of national economies Worldwide. We are led to believe that the lockdown is the solution. Politicians and health officials in more than 150 countries obey orders emanating from higher authority.

news.un (2020-06-30). Impacts of COVID-19 disproportionately affect poor and vulnerable: UN chief. news.un.org Addressing poverty eradication on Tuesday in front of the General Assembly, UN chief António Guterres warned that the impacts of the COVID-19 pandemic are falling "disproportionately on the most vulnerable: people living in poverty, the working poor, women and children, persons with disabilities, and other marginalized groups".

Newsclick (2020-06-30). Revert to full employment to overcome neoliberalism and COVID-19 jobs crisis. peoplesdispatch.org Economist Robert Pollin advocates a macroeconomic agenda centred on full employment to deal with the rapidly unfolding jobs crisis. The decades-long neoliberal attack on the working class has heightened with COVID-19. He says that the world needs a New Deal to counter levels of unemployment and inequality, which were last seen during the Great Depression.

Robert Pollin (2020-06-30). Full Employment Will Overcome Neoliberalism & the COVID-19 Jobs Crisis. zcomm.org The world needs a New Deal to counter levels of unemployment and inequality last seen in the Great Depression…

Shawgi Tell (2020-06-30). The Stock Market Produces Nothing. dissidentvoice.org On June 2, 2020, Jan Dehn of Ashmore Investment Management Limited remarked: If central banks were to allow asset prices to reflect the actual underlying fundamentals — record levels of debt, record low productivity growth, record unemployment, record populism — the resulting crashes in financial markets would be so large that most Western economies would …

yenisafak (2020-06-30). Spain braces for slow economic recovery post-pandemic. yenisafak.com As Spain saw new daily infections rise by 301 on Tuesday, the county's central bank released an annual report suggesting that the economy will not recover from the health crisis until late 2022.The Health Ministry reported a spike in deaths adding nine to the total. The nationwide death toll has hit 28,355.The central bank's 238-page annual report not only predicts that economic recovery will take years, but that women, low-income workers and young people will bear the brunt of the economic crisis."Spain's economy faces the COVID-19 crisis with inequality significantly higher than before the financial crisis of 2…

RT (2020-06-29). VIDEO Activists set up guillotine outside Jeff Bezos' home, call for end to Amazon. rt.com Amazon founder Jeff Bezos was targeted on Sunday by activists, who set up a guillotine outside his Washington DC home and called for an end to the "exploitation" of the company's employees. | In front of the guillotine was a sign reading: "Support our poor communities not our wealthy men." | Footage from the scene shows demonstrators outside the residence saying: "It is still exploitation, and when they become threatened, and we have no voice, the knives come out." | Wow going after newspaper owners like this smh these attacks on the press must end

Deirdre Griswold (2020-06-29). COVID figures reveal stark contrasts. workers.org June 29 — No country boasts louder of its success than the United States. This is the most powerful capitalist country in the world, based on its vast wealth, huge industrial output and formidable military. A medical brigade of over 200 Cuban doctors prepares to leave Jose Martí Airport in . . . |

Kester Kenn Klomegah (2020-06-29). Sudan Holds Donors Conference to Salvage Its Economy. globalresearch.ca During several years of the Omar al-Bashir administration, Sudan's economy was largely shattered due to political tyranny, deep-seated corruption and poor policies. Sudan has a population of 43 million (2018 estimates), nearly 80% live far below the poverty line despite …

MP Richard Burgon (2020-06-29). After the Corona Lockdown: Neoliberal State Intervention "Won't Save Us" globalresearch.ca After the coronavirus crisis, the state will likely play a much larger role in the economy. But its interventions will serve the interests of the wealthy — unless the Left gets organised, argues Richard Burgon. | *** |

As the coronavirus death …

Eoin Higgins, staff writer (2020-06-29). Analysis Warns 11% of Those Unemployed Due to Pandemic Have 'Zero Chance' of Getting Job Back. commondreams.org "The 10.7% number represents the hard floor that we'll bump up against when the virus vanishes, leaving us in a Great Recession level unemployment situation." | www.commondreams.org/sites/default/files/styles/cd_special_coverage/public/headline/thumbs/unemployment_3.jpg

Stephen Lendman (2020-06-28). What Happens if Congress and the White House Let Unemployment Benefits Expire? globalresearch.ca According to Labor Department figures, over 47 million US workers filed for unemployment benefits. | The true number is likely much higher as countless numbers of unemployed US workers haven't been able to file so far — many more to come …