Originally published at http://www.commondreams.org/views/2020/04/02/how-prepare-trump-recession
Bend down, put your head between your legs, and kiss your ass goodbye. Our only hope is for this virus to mutate to attack only the rich, the sociopaths, and the insane right-wing Christian nuts. Though Easter may take care of them as they cram into their megachurches, providing an Easter brunch buffet for Covid-19.
Those words need to be spoken as much as possible. It will drive Donald nuts
Or better yet, call it what it will be…The Trump Depression.
Yes, there was the 1929 great depression, the smaller 2008 great recession and now the 2020 TRUMP RECESSION that dwarfs all previous recessions and depressions.
“Hundrerds of thousands workers pay checks at risk” ???
Within the past two weeks 10 million workers pay checks went way beyond “at risk” and stopped cold.
And those are just the workers who successfully navigated unemployment insurance mazes to file claims.
We have no idea how many more workers continue to attempt to file claims or how many millions more will file in April.
“Workers pay checks” did not reach the “at risk” stage in March 2020, they reached the “at risk” stage when so many workers voted for Trump in November 2016.
Dang. When I saw the headline, I was really hoping for some things that normal people could do.
Dear Mr. Reich,
The suggestions you make are only slightly better than the one time $1200 checks that a fraction of us poor folk will get - Note: They ain’t going to homeless, to recently incarcerated, to undocumented, many First Nations peoples, etc., etc., etc, etc, etc. etc.
I’d prefer to shove my $1200 up the asses of Nancy Pelosi, Chuck Schumer, Mitch McConnell, Mike Pence, and Donald Trump, to give them a sense of what shit this is. It won’t help. Your suggestions are not much better.
How about taking your elite education and well financed Blum Center and coming up with well laying out some programs for wealth re-distribution, for debt relief, for needs based distribution of goods and services, for time-banking, for Local Exchange Currencies, etc.? How about presenting some real alternatives to capitalist economics rather than kinder, gentler, more refined means of allowing the rich to extract blood, sweat, and tears from those who are not wealthy.
Well damn – I’m already there: everyday I wake up to the sad fact that the trumptard is still in power I grow even more depressed.
I’m not a twitterer but #PelosiAss might just start trending. I’ll send in my $1200. There could be a nationwide contest to see which Political-Ass gets the most money.
C’mon Bob. We need better from you.
Unemployment insurance = extended 13 weeks + $600,00 more to eligible, qualified. Yes, too many are told they are not qualified by the state’s computer.
Public assistance. What is that? The township trustee denies everyone who needs assistance with their heat bill, for example. Then, said trustee has government issue big four door pick up truck to go home in. nutz!!
SNAP will help all. Qualifying is 25 pages faxxed to some place without an address or any person with a name.
Food banks here are all now private donations. OBAMA removed the federal annual support money, not trumpo - who certainly would have done also, given the chance.
put some real thought into your plan for assisting folks. Heck, you know rent is due and you did not mention how we pay that without any income. Now, get back to work.
I actually think and write that it is now time for regular people to form their own political party.
Need to recruit candidates of ethics, educated, hard workers, who listen.
At very level from township, library and school boards, city and state, DC.
As a result, only 27% of unemployed workers receive benefits today, compared to 49% of workers in the 1950s. We need to expand unemployment coverage so that everyone is protected.
Think broader, Reich. I’ve been unemployed for a year (in my 50s, tech industry, enough said) and I voluntarily left my last job a year ago due to misrepresentation of job duties and other management abuse, and I was therefore never eligible for unemployment benefits. But in this country, somehow people like me are ignored in all of these discussions. I will be suffering just as much, trying unsuccessfully to find a job in the new depression, as the people recently laid off and officially in the system. Does my life not matter?
Why are policy makers limiting themselves to only helping people recently and involuntarily jobless?
We are facing 2 crisis simultaneously. One is the corona virus with its tendency for a rapid exponential spread of the disease. The other is the grinding mathematics of steadily advancing compound interest and debt, which soullessly expects the interest and payments to be calculated and paid by the calendar irregardless of what else happens in the world. The cure for the corona virus problem is for us to mostly stay home, but that exposes us citizens to joblessness, evictions, and added debt because our system is built around the relentless abstraction known as compound interest.
Note that one crisis is based on the mathematics of biology, while the other is based on the mathematics of an abstraction. We are fighting the biological crisis with distancing, testing, and hospitals and technology, and we are seeing some progress in the battle, but because we are doing so we are suffering greatly from the effects of compounding interest with its relentless demands for interest and payments. Being given a few extra months to catch up on the payments does little for a laid off low wage employee needing to pay for rent and food. It does little for businesses that cannot pay bills and are forced to close. It does little for governments who owe money that they are expected to pay interest on even though their citizens cannot pay enough taxes because of the crisis. All this is caused by the inertia of the mathematics of an abstraction. Food is real. You and I are real. The virus is real. Shelter is real. Money and compound interest are not real, they are abstractions that exist solely because we have chosen that they exist.
We cannot suspend real time, the new moons and seasons will reliably arrive.
We can suspend financial time. Financial time is an abstraction. Suppose that 1:00 AM GMT of April 7th, 2020 was financially 1 instant before 1:00 AM GMT of September 7, 2020. Suppose now that during that 5 months that financial time is suspended that no interest accumulates, and no debt payments are due and no property taxes are due. Financial time restarts again at 1:00 AM GMT of September 7, 2020 and all financial calculations must be adjusted to treat the five months as an instant.
I am not suggesting that this will solve the problems, nor necessarily make them more manageable. What I am suggesting is that temporarily suspending financial time might be a tool to consider using at times such as the present when there is a danger that the system may collapse due to the real costs of the relentless mathematics of compound interest and debt, when our society needs a break from servicing the relentless demands of the financiers and elites in order that we can focus our society’s wealth and energy for a time on a serious problem that is real, instead of relentlessly remaining focused on an abstraction.
OPEN UP THE DAMN ECONOMY IN A MONTH!! if we keep this up for another 3-6 months or more we are looking at a full blown depression and CATASTROPHE of epic proportions crippling supply chains where even those with a job will go hungry. We need to do mass testing and targeted quarantines not just sit at home for months on end and hope this goes away. Not to mention the psychological consequences. For the vast majority of human kind, and even people in this country, sitting at home long term and doing nothing is a PRIVILEGE. And let’s not forget about those who are lonely, depressed, and struggling as it is or in abusive relationships and stuck at home with their abusers. Usually those who suggest such things either live in luxury mansions or still got a damn paycheck. I challenge those people to go without one for 6-12 months and ,move to a one bedroom or studio or crammed into a tiny space with roommates and then see if they still feel the same. This whole thing is just NOT sustainable. Everyone should get tested and get N95 masks and no mass gatherings but right out shutting down the economy is not an option. This is NOT going to end well.
Be careful what you wish for people: Trump would ABSOLUTELY use this as a reason to suspend or postpone the November elections. Make no mistake. He would love nothing more.
Quote, “Though Easter may take care of them as they cram into their megachurches, providing an Easter brunch buffet for Covid-19.” End quote.
Two responses to this post.
- It’s currently ILLEGAL to gather large groups, personal distancing is authorised only. Thus any large such gathering should be broken up with all said participants being arrested.
- The bright side of the coin, is to allow said gathering to thoroughly mingle for an hour or two, ensure exchanges of bodily fluids via droplets on breath, to ensure Good transmission of Virus from one person to another, thus riding us of this plague on earth. I’m talking of the christian fanatics.
Ray, I’m confused, why do you, and many others, place responsibility for this reccession at the feet of Trump ??? The EVIDENCE available to everyone, clearly shows the seeds of this reccession were sown a long time ago, even way before Trump stuck his hand up to be placed in head monkey’s seat. Clearly, therefore it is NOT his responsibility that it has come about. However, it does fall on him, how he’s going to deal with it.
Going to war with Iran, as he’s already stated, may be his way of dealing with it. L.O.L.
We don’t have mass testing or (acknowledged) personal tracking required for a South Korea response. Any letup in social isolation means more people dead and lungs injured for life.
First of all S Korea has a smaller population, they had a far better response early on versus the US that thought it was a hoax and did nothing. they have also done more testing relative to population. Social distancing is all fine and good - but for a limited amount of time, not for months on end. In case you missed it, it isnt rich people waiting in unemployment lines and unable to pay their rent. The economy crashing isnt just going to affect the stock market. If you think it doesnt matter to not have a paycheck for months on end, feel free to donate yours and try doing without it yourself.
Taking back our own control over our own destinies. Yeah, I’ve thought about this before as well. Start at the local and take it up from there. Pass laws nullifying whatever the demons attempt to put in place to prevent the shift. Start REMOVING the lost cause wealth class. All of them. In a permanent manner, to preclude any of them from ever returning. Return their stolen wealth to The People. Arrest, jail, try, convict, execute the worthless treason class, who only served the wealth anyway. ALL of them, “DnR” Build a way better world.
Everybody that is not a trumptard will though, and that should be the final nail in his coffin.