Archiv: recession / depression


07.03.2021 - 13:33 [ London School of Economics (LSE) ]

Shaping the post-Covid World: Moving towards wellbeing over the lifetime as the unit of analysis in policy

Professor Paul Dolan, Professor of Behavioural Science, LSE

Professor Lord Richard Layard, Emeritus Professor of Economics, LSE

Lord Gus O’Donnell, Chair of Frontier Economics and Visiting Professor, LSE

Professor Liam Delaney, Professor of Behavioural Science, LSE

Dr ChristianKrekel, Assistant professor of Behavioural Science, LSE

Dr Jet Sanders, Assistant Professorof Behavioural Science, LSE

Dr Celia Blanco-Jimenez. Fellow in Behavioural Science, LSE

Dr Kate Laffan, Fellow in Behavioural Science,University College Dublin

Dr Georgios Kavetsos,Associate Professor in Behavioural Science, QMC London

Dr Laura Kudrna, Fellow in Behavioural Science, University of Birmingh

(…)

4.5. The foregoing discussion highlighted the importance of processes as well as outcomes, and so a separate wellbeing commission should be established …

27.02.2021 - 09:01 [ USA Today ]

House passes Joe Biden’s COVID relief bill with $1,400 stimulus checks, legislation heads to Senate

The bill, known as the American Rescue Plan, passed 219-212. No Republicans voted for it, and two Democrats voted against it: Rep. Kurt Schrader, D-Ore., and Jared Golden, D-Maine.

The measure now heads to the Senate where it faces a rocky path in the evenly divided chamber.

27.02.2021 - 07:58 [ NPR.org ]

Senate Can’t Vote On $15 Minimum Wage, Parliamentarian Rules

The decision is a disappointment for progressives but relieves immediate pressure on Democratic Party leaders who are attempting to rally support for the overall bill despite concerns from at least two Democrats who say $15 is too high.

19.01.2021 - 21:50 [ Telegraph.co.uk ]

Pressure grows on Boris Johnson to agree plan to start easing lockdown restrictions by March 8

„We locked down the country and shut down our schools on the basis of a forecast, so why can’t we open it up on the basis of one too? It is not sustainable to leave the public and British businesses languishing any longer,“ Mr Baker told The Telegraph.

19.01.2021 - 18:47 [ Prem Sikka / Twitter ]

To rebuild the economy, UK govt has set-up a Build Back Better Council. It is full of grandees from companies not paying the minimum wage, dodging taxes, engaged in illicit financial flows and anti-worker practices. No union reps. What could go wrong?

18.01.2021 - 12:56 [ Express.co.uk ]

Boris on the brink as Tories turn on PM over lockdown end date – rebellion ready to erupt

Last week Steve Baker, the deputy chair of the Tory backbench Covid Recovery Group (CRG), wrote to MPs calling on them to write to the Government chief whip and make clear an exit strategy was needed.

He told them „inevitably the Prime Minister’s leadership will be on the table“ unless Mr Johnson outlined the return to freedom.

17.01.2021 - 11:27 [ DailyMail.co.uk ]

Tory rebels demand Boris Johnson publish a ‚clear road map‘ to begin easing the national lockdown from March 8 and warn there ‚cannot be any more excuses‘

– Tory MPs have urged Boris Johnson to publish draft lockdown exit plan this week
– They said that the gradual easing of draconian curbs must start from March 8
– The Covid Recovery Group warned the PM ‚there cannot be any more excuses‘

30.12.2020 - 17:51 [ Newsweek ]

Ohio Senator Brown Joins Sanders in Delaying Senate Holiday Over $2K Stimulus Checks

Ohio Democrat Senator Sherrod Brown said Tuesday that he would push for a Senate vote on $2,000 stimulus checks by joining Vermont Senator Bernie Sanders’s filibuster on the Senate floor.

30.12.2020 - 02:38 [ Bernie Sanders, US Senator / Twitter ]

This is about life and death for millions of people. The Senate must approve the $2000 for every working class adult.

30.12.2020 - 02:23 [ PBS.org ]

Bernie Sanders on the battle to increase stimulus payments

Efforts to increase stimulus payments to $2,000 were blocked in the U.S. Senate on Tuesday, while Republican Senate Majority Leader Mitch McConnell put forth a new bill. Sen. Bernie Sanders was one of those making the case for higher stimulus payments. He joins Amna Nawaz to discuss.

30.12.2020 - 02:18 [ Deadline.com ]

Mitch McConnell Ties $2,000 Covid-19 Relief Checks To Repeal Of Section 230; Democrats Call It A “Poison Pill”

Senate Majority Leader Mitch McConnell (R-KY) introduced a bill that ties $2,000-per-person Covid-19 relief checks to a repeal of Section 230, the provision of a 1996 law that protects social media platforms from liability for the way that they moderate third party content.

In doing so, McConnell has likely added a “poison pill” to the effort to increase the Covid-19 relief payments from the current $600.

30.12.2020 - 02:12 [ NPR.org ]

McConnell Blocks Senate Vote On $2,000 Direct Payments

Senate Majority Leader Mitch McConnell blocked a proposal to vote on the House bill on $2,000 direct payments. Also, the Senate will vote Wednesday to override President Trump’s veto of the NDAA.

29.12.2020 - 10:50 [ Newsweek ]

Donald Trump Presses Senate On $2,000 Stimulus Checks, Says People ‚Have Suffered Enough‘

Trump responded to comments that Sen. Bernie Sanders (I-VT) could filibuster a move to override the president’s veto of the defense funding bill unless a vote is held on the $2,000 checks.

Replying to details of this potential move, Trump wrote on Twitter: „Give the people $2000, not $600. They have suffered enough!“

29.12.2020 - 10:49 [ Xahoo.com ]

Bernie Sanders hopes to force Senate vote on $2,000 stimulus checks

Sanders, an independent from Vermont, made the comments after Democrats in the House – joined by 44 Republicans – voted to more than triple the $600 checks included in the coronavirus relief package signed by President Donald Trump over the weekend.

29.12.2020 - 07:12 [ Boston.com ]

Sens. Markey and Sanders to stall defense bill veto override vote in effort for $2,000 relief checks

Soon after Sanders’ announcement, Markey said he would join in on the filibuster.

“That relief passed in the House today with 44 Republicans voting for it,” Markey wrote on Twitter. “Senate Republicans must do the same and get the American people the help they need.”

29.12.2020 - 04:48 [ Bernie Sanders, US Senator / Twitter ]

This week on the Senate floor Mitch McConnell wants to vote to override Trump’s veto of the $740 billion defense funding bill and then head home for the New Year. I’m going to object until we get a vote on legislation to provide a $2,000 direct payment to the working class

29.12.2020 - 04:41 [ theHill.com ]

Sanders to slow down NDAA veto override in bid to get vote on $2K checks proposal

„This week on the Senate floor Mitch McConnell wants to vote to override Trump’s veto of the $740 billion defense funding bill and then head home for the New Year. I’m going to object until we get a vote on legislation to provide a $2,000 direct payment to the working class,“ Sanders tweeted.

29.12.2020 - 04:23 [ CBS News / Youtube ]

House approves stimulus check increase to $2,000

The House on Monday approved a bill that would increase COVID stimulus checks to $2,000. The bill is likely dead on arrival in the GOP-controlled Senate, despite President Trump’s insistence on larger checks. Mr. Trump signed a bill on Sunday night that would distribute $600 stimulus checks. Wall Street Journal congressional reporter Siobhan Hughes joins CBSN to discuss.

28.12.2020 - 04:57 [ Ro Khanna, Abgeordneter im US Repräsentantenhaus / Twitter ]

I am glad we are finally having a vote tomorrow on a $2000 stimulus. The question remains why we didn’t have this vote in March when @TimRyan and I proposed this. This is a lesson. It should not require permission from Trump or Republicans to vote on and push for bold policies.

28.12.2020 - 03:32 [ BostonHerald.com ]

Trump signs coronavirus relief bill, still pushes for $2,000 stimulus checks

“As President, I have told Congress that I want far less wasteful spending and more money going to the American people in the form of $2,000 checks per adult and $600 per child,” Trump said in a statement.

“On Monday the House will vote to increase payments to individuals from $600 to $2,000,” he added. “Therefore, a family of four would receive $5,200.”

28.12.2020 - 03:25 [ CNN ]

Trump signs coronavirus relief and government funding bill into law after lengthy delay

The Covid-19 relief legislation was passed by Congress on Monday and was flown to Mar-a-Lago on Thursday to await Trump’s signature. But after sitting on the sidelines during the negotiations, Trump emerged with an eleventh-hour complaint that a separate provision in the deal, which the President’s own White House helped broker, would only provide up to $600 in direct payments. Trump wanted to send out $2,000 checks.

23.12.2020 - 08:31 [ Washington Post ]

Live updates: Trump demands $2,000 stimulus checks; calls long awaited coronavirus relief bill a ‘disgrace’

President Trump derided the recently-passed coronavirus relief bill as a “disgrace” on Tuesday night, calling on Congress to increase stimulus payments from $600 to $2,000 and get rid of “wasteful and unnecessary items.” The move stunned Congress which has been deadlocked for months over the long-awaited stimulus package to address people’s increasingly desperate situations in the midst of a pandemic-fueled economic downturn.

23.12.2020 - 08:27 [ theGrayzone.com ]

Covid-19 catch-22: Regime-change policies come packed with US pandemic relief

The US Congress’ $900 billion Covid-19 relief bill was packaged with $1.4 trillion in omnibus spending that includes tens of billions for war, weapons, and regime change abroad, from anti-Russia and anti-China initiatives to $3.3 billion for Israel’s military.

21.12.2020 - 00:12 [ Movement for a People´s Party ]

Dr. Cornel West and Jimmy Dore join the People’s Party Advisory Council, launch MPP organizing campaign to Force The Vote on Medicare for all

Public intellectual and Harvard professor Dr. Cornel West and political comedian Jimmy Dore have joined the People’s Party Advisory Council. Together with the Movement for a People’s Party, they are launching the Force The Vote petition and organizing campaign. The campaign aims to pressure The Squad and House progressives to refuse to vote for Rep. Nancy Pelosi as Speaker until she publicly pledges to bring Medicare for all to the floor of the House for a vote. Nearly 10,000 people signed the petition overnight.

Dore hosted Dr. West on The Jimmy Dore Show Friday evening where they broke the news. “We’re joining forces with the Movement for a People’s Party. We are ForceTheVote.org,” said Dore. “There’s never a wrong time to do the right thing. And now is the time, in the middle of a deadly pandemic. There’s never been a better time to have a Medicare for all vote.”

20.12.2020 - 23:48 [ Caitlin Johnstone ]

The Revolutionary Struggle Is A Fight Between Movement And Inertia

(16.12.2020)

The pandemic and a Democrat-controlled House presents a once-in-a-century opportunity to shove hard toward getting Americans the same healthcare rights afforded to everyone else in every major country on earth and forcing all House Democrats who oppose it to expose themselves to their constituents instead of passing the blame to the Republicans. With things getting more and more desperate, waiting for the next once-in-a-century opportunity to even begin pushing is a ridiculous proposition.

20.12.2020 - 23:45 [ theHill.com ]

Former Sanders spokesperson: Progressive base confused by ‚ambiguity‘ over how to replace

(18.12.2020)

In contrast, she said, “this question of whether Pelosi should be ousted altogether, and whether we have to do so because there’s not someone in the ranks, is a new one.”

“It’s an interesting conversation given that we’ve had now two years of these progressive ‘Squad’ members in office who came in really hot to do something about Nancy Pelosi and to threaten her leadership at that point,” she added.

20.12.2020 - 23:27 [ Business Insider ]

Alexandria Ocasio-Cortez rejects left-wing calls to force Pelosi to hold a ‚Medicare for All‘ vote in exchange for her vote for the speaker

(16.12.2020)

Rep. Alexandria Ocasio-Cortez is publicly rejecting those calls, saying that Democrats don’t have the votes to pass „Medicare for All“ in the House and there are other options the party has that would affect real change.

20.12.2020 - 23:20 [ Movement for a People’s Party / Twitter ]

There’s a feud on the political left right now. It all started when @jimmy_dore made a video arguing that House progressives should refuse to re-elect Nancy Pelosi as House Speaker unless she puts #MedicareForAll to a floor vote.

Via @caitoz
. #ForceTheVote

10.12.2020 - 13:46 [ HungaryToday.hu ]

PM Orbán Sticks to Veto of EU Budget if Rule of Law Conditionality Stays

Commenting on a proposal by European People’s Party group leader Manfred Weber that decisions on issues concerning the rule of law should be left up to the European Commission while disputes should be settled by the Court of Justice of the European Union, Orbán said: “Everyone’s talking all kinds of nonsense and this is also true for Mr. Weber.”

“We’re not stupid, we weren’t born yesterday . we can put two and two together,” the prime minister said, insisting that Weber’s proposal meant that the EU wanted to “force anything onto member states that can be painted as a rule of law issue with a simple majority vote”.

10.12.2020 - 13:37 [ PolskieRadio.pl ]

Compromise on offer for Poland as EU leaders seek deal on budget

Speaking during a working visit to Prague, where he met Czech President Milos Zeman, Duda said: “There is a preliminary agreement drawn up. Work on it is still underway.”

He added: “The agreement is the result of very strenuous efforts by Poland, Hungary but also the German presidency” of the EU.

02.12.2020 - 05:00 [ Krystal Ball / Twitter ]

Don’t worry they will still find plenty of money for endless wars, tax cuts for rich people, and socialism for Wall Street.

02.12.2020 - 04:46 [ CNN ]

Don’t expect a second stimulus check this year. Here’s what Congress is talking about instead

Congress returns to Washington this week focused on passing a broader spending bill by December 11 to avert a partial government shutdown, though it’s possible that some relief programs could be added to such a broader spending bill.

19.11.2020 - 18:20 [ NPR.org ]

12 Million To Lose Jobless Benefits The Day After Christmas Unless Congress Acts

The day after Christmas, millions of Americans will lose their jobless benefits, according to a new study. And that could spell financial ruin for many people, like 44-year-old Todd Anderson in the small town of Mackinaw City, Mich.

19.11.2020 - 17:58 [ DailyMail.co.uk ]

Boris Johnson vows to make UK the ‚foremost naval power in Europe‘ with £24bn MOD budget boost as No10 is forced to insist extra cash is not an attempt to impress Joe Biden and defence minister admits he ‚doesn’t know‘ where money is coming from

However, there are major question marks over how the additional spending will be paid for while Downing Street has also been forced to deny that the new money for the military is simply an attempt to impress US President-elect Joe Biden.

There is growing speculation that some of the money could come from the foreign aid budget, with Chancellor Rishi Sunak due to set out the Government’s one-year Spending Review next week.

19.11.2020 - 17:52 [ ITV.com ]

UK to set up ‚RAF Space Command capable of launching first rocket‘

The UK is setting up „RAF Space Command“, a wing of the Armed Forces which will be capable of launching Britain’s first rocket as early as 2022, the prime minister has announced.

Boris Johnson said a military investment of £16.5 billion will also fund the development of Artificial Intelligence and a National Cyber Force aimed at targeting terrorism, organised crime and hostile state activity.

27.10.2020 - 06:57 [ DailyMail.co.uk ]

FIFTY Northern Tory MPs mount a lockdown revolt: Boris faces a ‚red wall‘ rebellion and demands for an ‚exit map‘ – as eight million people are plunged into toughest coronavirus restrictions with addition of Nottingham and Warrington to Tier 3

A letter to Boris Johnson from the Northern Research Group – a newly-launched alliance of Tory MPs led by ex-Northern Powerhouse minister Jake Berry – outlines the group’s demands, which include a tailored economic recovery plan for the north.

Mr Berry says that the virus could widen the North-South divide and ’send the North into reverse‘. His group is now calling for Mr Johnson to ‚level-up the North‘ – something the PM claimed he would do following sweeping Conservative gains in the region in the General Election.

27.10.2020 - 06:46 [ Bloomberg ]

Boris Johnson Hit by Lockdown Revolt From More Than 50 Tories

The MPs reminded Johnson of his promises to “level up” disadvantaged parts of the country, which helped persuade voters in former industrial heartlands last December to back his Tories instead of the opposition Labour Party many had supported for decades.

24.10.2020 - 11:39 [ Financial Times ]

From peak city to ghost town: the urban centres hit hardest by Covid-19

FT research shows London and New York have suffered the most from the pandemic, but more substantial change lies ahead

24.10.2020 - 11:38 [ Washington Post ]

We can’t let Main Street become a ghost town

(09.10.2020)

Darkened storefronts adorned with “Closed” and “For Lease” signs have become common sights in both urban and rural areas.

Maryland is no exception. From my hometown in Takoma Park to the bucolic charm of Chestertown, many businesses have shuttered or are hanging on for dear life.

23.10.2020 - 04:28 [ Krystal Ball, co-host Rising @hilltvlive / Twitter ]

Joe didn’t answer the q on stimulus. He could easily pressure democrats to take the $1.8 trillion deal on the table and get people help NOW.

#Debates2020

23.10.2020 - 03:52 [ Jordan / Twitter ]

25 minutes into #Debates2020 , not one mention by moderator or candidates that the $600/week unemployment that was keeping the desperately unemployed afloat expired 3 months ago… Neither candidate asked or reveals plan about additional stimulus to avoid economic depression.

23.10.2020 - 02:16 [ The Hill / Youtube ]

EXCLUSIVE: Bernie Sanders Pressed On Opposition To White House Stimulus Offer

Sen. Bernie Sanders gives his thoughts on the latest stimulus negotiations and shares his concerns with the proposal being floated by the Trump Administration.

23.10.2020 - 02:07 [ theHill.com ]

Sanders: Democrats will pass ‚massive stimulus bill‘ if party flips the Senate

“If the Democrats gain control of the Senate, the first order of business will be a massive stimulus bill to protect desperate working people throughout this country,” Sanders said on Hill.TV’s “Rising.”

The remarks come as Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin press on in their negotiations on COVID-19 aid. Pelosi has stuck to her position that a stimulus package must total at least $2.2 trillion, while the administration has inched up to $1.8 trillion.

16.10.2020 - 10:55 [ New York Times ]

8 Million Have Slipped Into Poverty Since May as Federal Aid Has Dried Up

After an ambitious expansion of the safety net in the spring saved millions of people from poverty, the aid is now largely exhausted and poverty has returned to levels higher than before the coronavirus crisis, two new studies have found.

The number of poor people has grown by eight million since May, according to researchers at Columbia University, after falling by four million at the pandemic’s start as a result of a $2 trillion emergency package known as the Cares Act.

15.10.2020 - 05:20 [ RealTimBlack / Twitter ]

Nancy Pelosi slams Wolf for the high crime of asking the most basic question Americans want to know: Why not take the 1.8 Trillion Dollars? You’d think she’d be prepared to answer this fair and obvious question without damn near having an aneurysm on live tv. #StimulusNow

15.10.2020 - 05:16 [ CNN ]

Nancy Pelosi’s ridiculously over-the-top response to questions about the coronavirus stimulus

Asked if she had spoken to President Donald Trump about the possibility of a coronavirus stimulus deal, Pelosi said she doesn’t „speak to the President.“ Pressed on why not — given the suffering of people in desperate need of a stimulus deal to keep their business open or pay their bills — Pelosi responded this way: „What makes me amused if it weren’t so sad, is how you all think that you know more about the suffering of the American people than those of us who are elected by them to represent them at that table.“
Uh, OK.

12.10.2020 - 11:38 [ Telegraph.co.uk ]

Travel latest news: British hospitality to launch legal action over expected lockdown restrictions

Following the announcement of a new three-tier lockdown system, which will see areas with higher Covid rates imposed with harsher measures, the Night Time Industries Association (NTIA) is leading a revolt against new rules that could see thousands of bars and restaurants ordered to close.

Two of the country’s biggest brewers and pub operators, Joseph Holt and JW Lees, are also involved in the challenge, alongside a further 10 hospitality businesses and organisations.

12.10.2020 - 11:30 [ theSun.co.uk ]

BED TO WORSE: New 3-tier lockdown rules: Boris Johnson to ban overnight stays and non-essential travel in Covid hotspots

OVERNIGHT stays will be forbidden in northern virus hotspots for four weeks, Boris Johnson will announce today.

As well as the bed ban, residents can only leave the highest risk regions for essential travel such as work, education or health reasons, and must return that day.

11.10.2020 - 02:40 [ theGuardian.com ]

PM ‘betraying his red wall voters’ over lockdown cash

Burnham told the Observer that by offering to pay only two-thirds of the wages of people hit by new closures – as opposed to the 80% which applied nationally under the original furlough scheme – ministers would be punishing people in the north in a way that was completely unacceptable.

Burnham said the Conservatives were betraying the people in so-called “red wall” seats who they had persuaded to vote Tory at the general election last December with pledges to “level up” the country.

09.10.2020 - 20:25 [ i24NEWS English / Twitter ]

Finance Minister Israel Katz sharply criticized the government’s renewed lockdown policy to try and regain some control of the #coronavirus pandemic, arguing that „indiscriminate closure would drive millions of Israelis to hunger and despair‘

08.10.2020 - 13:45 [ DailyMail.co.uk ]

Professors ‚Glum and Glummer‘ Chris Whitty and Patrick Vallance should be banned from Covid press briefings, says leading lawyer who warns the Government has been ‚captured‘ by scientists

(03.10.2020)

Last month, Professor Whitty and Sir Patrick – dubbed Glum and Glummer by critics – held their own press conference, warning the infection rate could rise to 50,000 cases a day by mid-October.

08.10.2020 - 13:34 [ DailyMail.co.uk ]

Boris’s Red Wall revolt: Northerners rage at ‚dictator‘ PM for using them as a ‚petri dish for experimentation‘ as it emerges 10 MILLION people in COVID hotspots will be plunged into ‚Tier Three‘ lockdown on Monday with pubs and restaurants SHUT

Conservative MPs and local leaders in the North have been venting fury about the government’s stance, with former minister Jake Berry accusing the premier of being ‚London-centric‘ and enjoying his sweeping emergency powers ‚a little bit too much‘.

Politicians in Manchester, Liverpool, Newcastle and Sheffield raged at ‚diktats announced without notice‘ and said ministers were treating the North like a ‚petri dish for experimentation‘ while the South gets off lightly.

13.09.2020 - 13:42 [ Haaretz ]

Israeli Businesses Say Without Compensation They Would Defy Coronavirus Lockdown

Tomer Mor, who leads a union of restaurant owners, said many of its members will open their eateries regardless of the government’s decision. “The government will face strong opposition and disobedience by caterers and self-employed people fighting for their lives,” he said.

A protest by restaurant owners against a government decision in July to shut down their businesses with immediate effect succeeded in changing that decision, eventually undoing it altogether.

25.08.2020 - 05:38 [ Robert Reich, Berkeley prof, frmr Sec of Labor / Twitter ]

In the middle of a pandemic and the worst economic crisis since the Great Depression, America’s billionaires have made a fortune:

19.08.2020 - 02:14 [ Bloomberg ]

One-Third of America’s Record Unemployment Payout Hasn’t Arrived

The Treasury disbursed $146 billion in unemployment benefits in the three months through May, according to data published Monday — more than in the whole of 2009, when jobless rates peaked after the financial crisis.But even that historic figure falls short of a total bill that should have reached about $214 billion for the period, according to Bloomberg calculations based on weekly unemployment filings and the average size of those claims.

11.08.2020 - 21:21 [ Politicshome.com ]

Boris Johnson warns UK of ‘bumpy months ahead’ after biggest drop in employment for over a decade

The Prime Minister vowed to make “colossal investments” in infrastructure and skills as the latest Office for National Statistics data showed 730,000 fewer people were in paid employment in July than in March, when the UK’s coronavirus lockdown began.

05.08.2020 - 17:45 [ CBS News ]

Over 25 million Americans at risk of losing health care as coronavirus pandemic rages: „It’s been real hard for me“

„We’re seeing an unprecedented loss in jobs, and what’s going to come along with that, is unfortunately the loss of health insurance as well,“ Kaiser Executive Vice President Larry Levitt told CBS News‘ Michelle Miller.

03.08.2020 - 19:13 [ Bloomberg ]

Fed’s Kashkari Urges Congress to Act, Suggests Fresh Lockdown

U.S. lawmakers and the Trump administration are wrangling after enhanced unemployment aid for as many as 30 million jobless Americans expired. Democrats and Republicans are looking for common ground on the jobless benefits and other help for an economy sagging under the weight of pandemic-induced shutdowns.

02.08.2020 - 12:51 [ Haaretz ]

‚No Method in the Madness‘: Israeli Shop Owners Revolt, Open Despite Coronavirus Ban

Some businesses say they are protesting against pressure exerted on the government by ultra-Orthodox parties, others say their only goal is survival

30.07.2020 - 15:15 [ theHill.com ]

GDP shrinks record 32.9 percent in second quarter amid virus lockdowns

Between April and June, U.S. gross domestic product (GDP) shrunk at a pace that would have wiped out roughly a third of the value of the economy if extended over 12 months, according to the Commerce Department’s advance estimate of second-quarter growth. It is the largest one-quarter plunge in economic growth since the federal government began reporting quarterly GDP data.

30.07.2020 - 03:04 [ Telegraph.co.uk ]

Western liberals‘ Covid myopia is condemning the world’s poorest

Lockdown has polarised British society; widening the gulf between the haves and have-nots, in a culture war yielding familiar tropes and characters. “Just stay at home, it’s not hard,” says the lawyer to the electrician. “Don’t sunbathe in the park!” cries Pandora from her Notting Hill townhouse. There is some truth in the caricature. But few have noted how the Pandora effect is also playing out on a monstrous global scale, inflicting unimaginable suffering.

18.07.2020 - 20:43 [ @ignis_fatum / Twitter ]

Live from the protest in Charles Clore park in #TelAviv

18.07.2020 - 20:31 [ @ignis_fatum / Twitter ]

Ongoing protest against the governments handling of the #COVID19 crisis in Charles Clore park in #TelAviv, organized by the “Cabinet of Hope” (umbrella organization of groups opposing the mismanagement of the crisis) #Israel

18.07.2020 - 14:18 [ Haaretz ]

Two Israeli Protest Movements Join Forces After Police Deny Demonstration Permit

Several organizations representing self-employed Israelis have said they will join the protest of the so-called Black Flag movement in Tel Aviv’s Charles Clore Park on Saturday, after police refused to let them demonstrate at a different location, citing coronavirus restrictions.

The Black Flag protests first gained recognition in March, when a motorcade of hundreds of cars made its way to Jerusalem to protest anti-democratic measures to combat the coronavirus, including the approval of civilians’ phone tracking by the Shin Bet security service.

15.07.2020 - 14:18 [ theHill.com ]

Battle brewing on coronavirus relief oversight

The three independent oversight panels set up by Congress in the bipartisan CARES Act almost four months ago have all encountered serious obstacles — sometimes because of resistance from the White House, other times due to drafting oversights in the authorizing legislation.

As a result, lawmakers and the public may not have a full understanding of how coronavirus relief aid is being spent until after the election. In the meantime, Congress and the White House are moving toward another pandemic bill that’s expected to carry a price tag of at least $1 trillion.

15.07.2020 - 13:56 [ Washington Post ]

The end of small business: Giant corporations may be the only survivors in the post-pandemic economy

For decades, large businesses have been taking market share from small businesses, and the corporations at the top of the pyramid have been consolidating into ever-bigger megacorporations. In the 1980s, half of retail shopping took place in independent stores; today, it is less than one-quarter. From 2002 to 2017, Home Depot and Lowes almost doubled their joint share of the home-improvement retail market, from 42 to 81 percent. Even before the coronavirus struck, in 43 metropolitan areas more than half of all groceries were bought at Walmart.

13.07.2020 - 19:59 [ Chuck Woolery, Hollywood Conservative / Twitter ]

The most outrageous lies are the ones about Covid 19. Everyone is lying. The CDC, Media, Democrats, our Doctors, not all but most ,that we are told to trust. I think it’s all about the election and keeping the economy from coming back, which is about the election. I’m sick of it.

13.07.2020 - 19:49 [ Businessinsider.com ]

Trump retweeted a post accusing the CDC of lying about the coronavirus to prevent his reelection

The message did not make clear what lies it was accusing the CDC of perpetuating. Trump and those around him have expressed skepticism in the organization and other government experts before.

Business Insider reached out to the White House for comment about the retweet of Woolery’s message but did not immediately receive a response.

12.07.2020 - 19:47 [ i24news.tv ]

Israel: Deputy minister slams massive Tel Aviv protest as ‚health terror attack‘

A top official in Israel’s Health Ministry slammed a massive rally held in Tel Aviv on Saturday evening as a „health terror[ist] attack“ as a resurgent coronavirus pandemic sweeps across the country.

Deputy Health Minister Yoav Kisch (Likud party) expressed dismay over the event that saw more than 10,000 citizens in attendance, with protesters standing virtually shoulder to shoulder in Tel Aviv’s Rabin Square.

12.07.2020 - 00:30 [ Haaretz ]

Ten Thousand Israelis Protest Poor Government Aid Amid Coronavirus Economic Crisis

Self-employed from hospitality, tourism and arts industries stage apolitical protest in Tel Aviv ■ Five were arrested

12.07.2020 - 00:20 [ News Update Live / Youtube ]

Israel COVID-19 | Live Protesters rally in Tel Aviv against gov’t response to pandemic | 11-07

TEL AVIV, ISRAEL – With curbs reimposed, unemployment soaring past 20 percent and aid packages falling short of demands, many Israelis are angry about what they see as the government’s inept response to their economic woes. T

11.07.2020 - 17:41 [ Jerusalem Post ]

Massive protest expected in Tel Aviv amid economic crisis – report

The protest is reportedly organized by NGOs representing self-employed Israelis, but it is expected to be attended by thousands of students, contract employees and business-owners who were financially impacted by the emergency regulations the first time around.

„The protesters do not intend to be nice,“ one of the organizers told the media outlet, adding that the demonstrators‘ plan for Saturday evening is „showing rage and blocking roads to make sure the protest will not be forgotten.“

07.07.2020 - 12:43 [ New York Times ]

A Million Jobs Lost: A ‘Heart Attack’ for the N.Y.C. Economy

While the national jobless rate has rebounded as many states started to reopen, New Yorkers continue to lose jobs and seek benefits.

07.07.2020 - 12:10 [ theChronicleHerald.ca ]

Euro zone set for deeper recession, less steep rebound: Commission

(today)

The EU executive said the 19 nation single currency area would contract by a record 8.7% this year before rising by 6.1% in 2021. In early May, the Commission had forecast a downturn this year of 7.7% and a rebound in 2021 of 6.3%.

07.07.2020 - 12:08 [ Marketwatch.com ]

EU warns coronavirus will trigger ‘recession of historic proportions’ in 2020

(06.05.2020)

The 27-nation EU economy is predicted to contract by 7.5% this year, before growing by about 6% in 2021. The group of 19 nations using the euro as their currency will see a record decline of 7.75% this year, and grow by 6.25% in 2021, the European Commission said in its Spring economic forecast.

05.07.2020 - 19:19 [ Kathimerini ]

Mitsotakis: Greece will not accept conditions on coronavirus aid

The former „troika“ of Greece’s creditors, the European Union, the European Central Bank and the International Monetary Fund had „forced (Greece) to do reforms“ even though „there was never really any domestic buy-in“

A six-monthly review of economic performance carried out by the European Commission was sufficient, Mitsotakis said.

01.07.2020 - 17:56 [ CNBC ]

Nearly half the U.S. population is without a job, showing how far the labor recovery has to go

The employment-population ratio — the number of employed people as a percentage of the U.S. adult population — plunged to 52.8% in May, meaning 47.2% of Americans are jobless.

As the coronavirus-induced shutdown tore through the labor market, the share of population employed dropped sharply from a recent high of 61.2% in January, farther away from a post-war record of 64.7% in 2000.

15.05.2020 - 12:20 [ Forbes ]

About 40 Million Americans Filed For Unemployment Since Mid-March—Politicians Need To Act Fast Before It’s Too Late

The Labor Department does not include all of the people who have finished collecting benefits, but did not find a new job. Small business owners, who had to close their companies down, have said that they haven’t been able to collect unemployment even though they aren’t earning any money.

15.05.2020 - 11:56 [ Bloomberg ]

Europe Stocks Rise While U.S. Futures Edge Higher: Markets Wrap

European stocks rose and U.S. equity futures eked out gains, trimming declines at the end of a week dogged by concern about a second wave of coronavirus infections and simmering tension between America and China. Oil climbed and Treasuries drifted.

15.05.2020 - 11:53 [ Bloomberg ]

Germany Plunges Into Recession With Biggest Slump in Decade

A revision to Germany’s fourth-quarter performance means Europe’s largest economy is already in a recession. With restrictions to contain the pandemic only slowly being lifted, the economy is set to suffer much more in the three months through June.

The euro and German bunds barely reacted to the data.

10.05.2020 - 16:23 [ the Hill ]

States build contact tracing armies to crush coronavirus

State governments are building armies of contact tracers in a new phase of the battle against the coronavirus pandemic, returning to a fundamental practice in public health that can at once wrestle the virus under control and put hundreds of thousands of newly jobless people back to work.

California is already conducting contact tracing in 22 counties, and it eventually plans to field a force of 10,000 state employees, who will be given basic training by University of California health experts.

06.05.2020 - 15:10 [ Communist Party of Israel ]

Rallies against the Far-Right Gov’t Follow May Day Events Nationwide

Thousands of workers, unemployed, self-employed and small business owners took part in demonstrations throughout the country Saturday night, May 2, against the economic and social policy of the far-right government, while demanding support in the wake of the economic crisis brought on by the coronavirus pandemic.

Saturday night, rallies were held in Tel Aviv, Jerusalem, Haifa, Beersheba, Eilat, Kiryat Shmone and Kufr Qassim, with demonstrators condemning as woefully inadequate the government’s limited economic support by means of unemployment stipends and grants.

06.05.2020 - 14:20 [ The Hill / Youtube ]

Krystal Ball: Will McConnell’s corporatist bailouts lose him re-election?

Krystal Ball discusses Mitch McConnell’s priority to confirm as many conservative judges as he can, as the Senator slows coronavirus relief funds to small businesses.

06.05.2020 - 14:11 [ Saagar Enjeti, Host of Rising w/ Krystal and Saagar / Twitter ]

After 9/11 we saw how small cadre of well connected neocon ideologues took us into war in Iraq Right now a small group of well connected TrueCon ideologues are orchestrating a similar campaign not to spend more government resources during worst economic crisis since depression

06.05.2020 - 13:35 [ Ilhan Omar, Abgeordnete im US Repräsentantenhaus ]

Rep. Ilhan Omar Introduces Bill to Cancel All Rent and Mortgage Payments During the COVID-19 Pandemic

April 17, 2020

WASHINGTON— Rep. Ilhan Omar (D-MN) unveiled the Rent and Mortgage Cancellation Act, a bill to institute a nationwide cancellation of rents and home mortgage payments through the duration of the coronavirus pandemic. The bill would constitute a full payment forgiveness, with no accumulation of debt for renters or homeowners and no negative impact on their credit rating or rental history. The legislation will establish a relief fund for landlords and mortgage holders to cover losses from the cancelled payments and create an optional fund to fully finance the purchase of private rental properties by non-profits, public housing authorities, cooperatives, community land trusts, and states or local governments—in order to increase the availability of affordable housing during this downturn.

06.05.2020 - 13:33 [ Alexandria Ocasio-Cortez, Abgeordnete im US Repräsentantenhaus / Twitter ]

And I hear @IlhanMN has a bill to do just that! It’s an opportunity for Congress to help working people in an ambitious and meaningful way.

Revelatory, I know:

06.05.2020 - 13:30 [ Ayanna Pressley, Abgeordnete im US Repräsentantenhaus / Twitter ]

It’s absolutely time to #CancelRent

06.05.2020 - 13:16 [ the Hill ]

Battle brewing over how to get more relief money to Americans

Reducing payroll taxes is an idea championed by conservatives with connections to the president. They argue that it could be a way to encourage people to work …

02.05.2020 - 11:52 [ CBS News ]

Nearly 4 million homeowners are no longer paying their mortgages

Nearly 4 million people, or just over 7% of mortgage holders, have sought relief on their home loans as of April 30, according to housing data provider Black Knight. That’s up sharply from the beginning of March, when fewer than 150,000 mortgages were in forbearance.

The number is only expected to grow, with May payments due soon and with the nation’s unemployment rate expected to reach 15% to 20%.

02.05.2020 - 11:04 [ the Hill ]

Big banks are growing due to coronavirus — that’s an ominous sign

(01.05.2020)

Collectively, the ten largest U.S. banks expanded by more than $1.2 trillion in the first quarter of 2020. JPMorgan alone grew by nearly 20 percent, becoming the United States’ first bank with $3 trillion in assets. The bank took in $273 billion in new deposits in just three months. That’s equivalent to JPMorgan acquiring PNC Bank — the country’s seventh largest depository institution.

02.05.2020 - 09:54 [ Fox News ]

NY Times, MSNBC journalist warns fascism could come to US if coronavirus shutdowns wreck economy

Stephens then compared the current „strategy“ to combat the coronavirus to the U.S. involvement in the Vietnam War.

„We’re trying to destroy the village in order to save it,“ Stephens told Maher, „and I don’t remember that ending very well.“

In March, Stephens declared the coronavirus outbreak was President Trump’s „Chernobyl,“ referring to the 1986 nuclear disaster in the former Soviet Union.

01.05.2020 - 09:54 [ the Hill ]

The Memo: The surprising popularity of the Great Lockdown

Several recent polls bear out that view.

01.05.2020 - 09:49 [ CBS News ]

30 million people have lost their jobs in just 6 weeks

Another 3.8 million U.S. workers filed for unemployment insurance benefits last week, bringing the total number of Americans who have sought jobless aid since March to at least 30 million. All told, the layoffs amount to the fastest loss of jobs on record.

29.04.2020 - 19:14 [ CherryMedia CCTV / Youtube ]

Comedian Vic DiBitetto goes on an epic rant over government checks and mortgage payments

(23.04.2020)

The four-and-a-half minute rant has received over 1,600,000 views on YouTube, 158,000 likes on Reddit,

29.04.2020 - 18:59 [ The Hill / Twitter ]

Rep. @AOC : „Here’s the path to canceling rent — we’re going to lay it out right here. WATCH: @RepAOC lays out a method by which rent and mortgages can be suspended to help both renters and mom and pop landlords.

29.04.2020 - 18:58 [ MPRNews.org ]

3.4M homeowners skip payments; many are scared, say Congress needs to act

„They told me, yes, you can skip three months‘ payments,“ Gullo says. „But then they told me there was a balloon payment at the end of it.“ He was told that after three months, they’d have to come up with all the money for those skipped payments. So they’d suddenly owe four months of mortgage payments all at once — $14,000.

29.04.2020 - 18:48 [ the Hill ]

US economy contracts at 4.8 percent rate, most since Great Recession

The U.S. economy shrank by an annualized rate of 4.8 percent in the first quarter of 2020 as the coronavirus pandemic forced millions of Americans out of work and thousands of businesses across the country to shutter, according to data released Wednesday by the Commerce Department.

23.04.2020 - 16:46 [ theGuardian.com ]

Clashes predicted over trillion-euro Covid-19 aid as EU meets online

European Union leaders are expected to clash over the size and scope of a coronavirus recovery fund as they stand on the precipice of an economic slump unparalleled since the 1930’s Great Depression.

09.04.2020 - 16:05 [ Politico.com ]

Unemployment claims reach 16 million in three weeks as coronavirus ravages economy

Economic forecasts are becoming routine that predict unemployment will exceed its historic 25 percent peak during the Great Depression, and the number of jobs lost in a mere three weeks now exceeds the 15 million that it took 18 months for the Great Recession to bulldoze from 2007 to 2009.

27.03.2020 - 08:19 [ p2a.co ]

Congress must remove the Mnuchin corporate slush fund and put the American people first.

On March 25th, The Senate voted to pass the 3rd coronavirus relief package based on the proposal from Mitch McConnell and Senate Republicans that features, among other provisions, a nearly $500 billion slush fund that would be controlled by Treasury Secretary Steve Mnuchin. Mnuchin, who is best known for making millions off running a notorious foreclosure mill, would be able to direct corporate bailouts with limited, after-the-fact oversight. This is absolutely unacceptable.

09.02.2020 - 14:27 [ teleSUR ]

CFK Presents Her Book At Cuba’s International Book Fair

Fernandez also spoke about the current administration under President Alberto Fernandez and the four years ahead of them. “We will keep our promises to the Argentinian people without a doubt,” she mentioned.

28.08.2019 - 06:33 [ Telegraph ]

Time is running out for Germany’s economic miracle… can its political hierarchy be persuaded to change?

How many times does this need to be restated? Germany desperately needs to change its economic model, now more so than ever as its own economy, that of the European Union, and the world as a whole, again teeter on the brink of recession.

Most of all, it needs to make itself more reliant on internal, domestic demand, and less on exports.

24.08.2019 - 15:40 [ Spiked ]

The strangling of European democracy: The EU is the high point of an anti-democratic project that has been brewing for a hundred years.

So, while the EU might well be the apogee of constrained democracy, constrained democracy has many facets. Moreover, the model of constrained democracy existed on a national level before the EU was created. Indeed, the EU can be seen as the grotesque extension of a flawed system that was first developed within nation states after the First World War. For instance, the model of independent central banking was pioneered in Germany before being transposed to the EU much later on.

14.08.2019 - 16:34 [ Telegraph.co.uk ]

Trade war and no-deal Brexit fears weigh on Germany’s struggling economy

Some Britons may feel a touch of schadenfreude from seeing that the German industrial juggernaut is spluttering but its woes are a troubling symptom of a slowing world economy.

14.08.2019 - 16:20 [ CNN ]

Dow tumbles 400 points after bond market flashes a recession warning

Investors are on edge because the German economy shrank in the second quarter, and the US-China trade war still looms large over markets, despite the latest truce. Industrial production in China grew at the weakest rate in 17 years.

17.11.2018 - 14:38 [ Nuddering ‏/ Twitter ]

Jeremy Corbyn in 2010: „They-the world’s bankers, the IMF, the European Union – are utterly united in what they want: deflation, suppressing the economy & creating unemployment“

How’s that anti-Brexit saviour moment going then @davidschneider ?