Originally published at http://www.commondreams.org/views/2020/07/30/heres-how-we-remake-economy
Until all of FDR’s New Deal regulations and programs that have been dismantled since 1978 have been restored, there is no chance of economic recovery from COVID-19, or reversing the widening income and wealth gap we have experienced for nearly a half century.
New Deal revival is just step one. The next step is implementing M4A and other programs that FDR was planning to implement but were sidelined after his untimely demise.
U.S. consumption levels are too high.
…"the sovereign monetary institutions of the government — the Treasury and the Federal Reserve — coordinate to make all payments
Is this true?? The Fed is not a gov. institution. (ref. The Jekylle Is. Affair).
My read of that is private banking as a result of clever wording and political maneuvering made to look like Federaly operated. In other words what the gov’t issues is credit based on debt.
But even so, how did Roosevelt manage that?
A long time ago this guy running for President as a democrat offered the idea of $1000. to every adult once a year. It should be about 10,000–today-----we are the owners—we have a right to a cut of the pie.
And to start they should return to us $2000. a month til dec.
SUPPORT INDIVIDUAL FREEDOM—SUPPORT THE COMMONS
This is how you fix the wealth gap.
And if the private sector is not going to build affordable homes the public sector needs to start building
Yea capitalism is really working in the housing industry???
We might have done it in the 1930s but there is a huge difference between then and now which will make it exponentially more difficult to swing the pendulum back to the left – namely the existence of a 365/24/7 propaganda machine, in the form of the mainstream media, that has brainwashed a large swath of the American people that capitalism (even in its worst form, the kind of crony, winner-take-all capitalism that we have today) is better than any form of “socialism.” It has been preaching for decades that govermnment is to be feared and hated, that it is ineffectual at best and evil at worst. That has been drilled into so many Americans’ heads for so long that even a crashing economy and a long, severe depression will probably not open their eyes. They will simply be told, by the MSM and conservative and neoliberal politicians !who equally hate any form of socialism with a passion), that it was the fault of too much “liberalism” or “radical” progressives expecting too much or some other lies that they will tell as an excuse for why the economy crashed.
We could turn this economy around on a dime if we did the exact opposite of what our duopoly is advocating and doing – if we invested heavily in the people and the common good instead of doling out more and more fistfuls of dollars to the corporate fat cats and the war machine.
I wish I could be more optimistic that something good will eventually come from this, but I’m afraid that we are in the beginning stages of a long dystopian nightmare. I hope I’m wrong.
Tax wealth and share the revenue equally with all citizens.
Politicians can’t handle money.