America’s Current Jobs ‘Great Depression’

9 September 2020 — Jack Rasmus

by jackrasmus

Two well-known and highly respected mainstream economists, Carmen Reinhart, a chief economist for the World Bank, and Vincent Reinhart, chief economist for Morgan Stanley bank, have recently published an article in the widely read capitalist source, Foreign Affairs, entitled ‘The Pandemic Depression’. Arguing primarily from a global perspective, the economists have concluded the US economy as of the 3rd quarter 2020 is not merely now experiencing a ‘great recession’ but now qualifies as another Great Depression.

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British government reimposes welfare benefits sanctions as pandemic continues and unemployment rockets

6 July 2020 — WSWS

By Simon Whelan

In March, the Johnson government announced that those receiving welfare benefits including Universal Credit (UC) would not be sanctioned as they normally would if they failed to look for work or otherwise fulfilled their benefit conditionality.

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Lives or livelihoods?

6 April 2020 — Michael Roberts Blog

There are now two billion people across the world living under some form of lockdown as a result of the coronavirus pandemic. That’s a quarter of the world’s population. The world economy has seen nothing like this. Nearly all economic forecasts for global GDP in 2020 are for a contraction of 3-5%, as bad if not worse than in the Great Recession of 2008-9.

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4IR & the ideological prison By Terry Bell

12 July 2019 — Terry Bell Writes

Last month saw the idea of a new, 21st Century city, complete with bullet trains, widely broadcast, all within the framework of a “developmental state”. But what this really boiled down to was a rehash of 20th Century concepts that produced Shenzhen, Brazilia, Canberra — even London’s Barbican — and, of course, the bullet trains and economic resurgence of post war Japan.

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US: Retail Death Rattle Grows Louder

27 May 2014 — WashingtonsBlog

The definition of death rattle is a sound often produced by someone who is near death when fluids such as saliva and bronchial secretions accumulate in the throat and upper chest. The person can’t swallow and emits a deepening wheezing sound as they gasp for breath. This can go on for two or three days before death relieves them of their misery. The American retail industry is emitting an unmistakable wheezing sound as a long slow painful death approaches. Continue reading