Inequality

By Rachel Kyte | – Janet Yellen is poised to be the next U.S. Treasury secretary, and her inbox will require every ounce of her vast experience to pilot the economy through a daunting confluence of challenges. How the U.S. manages the economic recovery from COVID-19, the financial risks from climate change and inequality together […]

Congress

McConnell Cynically used the Trump-Monster to get Tax Cuts and SCOTUS, Now Dropping him like a Squeezed Orange

Juan Cole

Ann Arbor (Informed Comment) – In Chapter 7 of F. Scott Fitzgerald’s The Great Gatsby, the enormously wealthy Jay Gatsby becomes concerned about word getting out that he is having an affair with Daisy, who is married to Tom, and abruptly stops having the big parties he had been throwing, to which assorted society flotsam […]

Banking

Letting the Markets go Wild while the People Go Down: A War of the Worlds

Tomdispatch

By Nomi Prins | – ( Tomdispatch.com ) – Sometimes things only make sense when seen through a magnifying lens. As it happens, I’m thinking about reality, the very American and global reality clearly repeating itself as 2021 begins. We all know, of course, that we’re living through a once-in-a-century-style pandemic; that millions of people […]

Donald Trump

Biden to invoke Defense Production Act for Vaccine manufacture. Trump? Playing Golf at Mar-a-Lago

Juan Cole

Ann Arbor (Informed Comment) – Will Feuer at CNBC reports that Joe Biden will invoke the Defense Production Act to ramp up the manufacture of more doses of the coronavirus vaccine. You may ask yourself, why has this not already been done? Trump said on December 9 that he “might” invoke the Korea War-era act, […]

African-Americans

How COVID-19 Hollowed Out a Generation of Young Black Men

ProPublica

By Akilah Johnson and Nina Martin | – ( ProPublica ) – The Rev. Dr. Kejuane Artez Bates was a big man with big responsibilities. The arrival of the novel coronavirus in Vidalia, Louisiana, was another burden on a body already breaking under the load. Bates was in his 10th year with the Vidalia Police […]

Debt

Austerity Terrors: Congress Stimulus Package Finally Passes – but it is Too Little, Too Late

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – 900 billion dollars is a big amount, Apparently one trillion is a whole order of magnitude greater. Or at least the number is so terrifying that politicians bend heaven and earth to avoid being connected with trillion dollar expenditures. And this allergic reaction is bipartisan. In the […]

Donald Trump

Pandemic Failure, Vaccine Success Indict American Monopoly Capitalism

Juan Cole

Ann Arbor (Informed Comment) – The contrast between the unprecedented failure of the United States to deal successfully with the coronavirus pandemic, and the success of pharmaceutical companies in coming up with effective vaccines in record time is bittersweet. The reason for the difference is that no one could make any money on mitigating the […]

Employment

A Tsunami of Evictions: Pandemic Housing Markets are about to be hammered, even Middle Class is Endangered

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Twelve million unemployed people are set to lose all their benefits at the end of December. And about 19 million people are currently unable to pay their rent, with the CDC’s moratorium on evictions set to expire on New Year’s Day. Mainstream media persist in speaking of […]

Debt

The Great American Moonshot: Now we Need a Vaccine for Poverty, Inequality and Racism

Liz Theoharis

( Tomdispatch.com ) – Martin Luther King, Jr., offered this all-too-relevant comment on his moment in his 1967 speech “Where Do We Go from Here: Chaos or Community?”: “The contemporary tendency in our society is to base our distribution on scarcity, which has vanished, and to compress our abundance into the overfed mouths of the […]