Category Archives: The destruction of the middle class

Covid-19 Bankruptcies Bleeding Out Jobs, Economic Capacity

Covid-19 bankrupties show how the disease is draining the economy.

Biden Defends Undying Allegiance to For-Profit Healthcare During Interview With Dying Medicare for All Advocate Ady Barkan

Biden acts like the heartless pol he is. He can’t keep up the pretense if someone wants to get between him and insurer profits.

Unemployment Claims Hit New Record: 32.9 Million State & Federal. Week 16 of U.S. Labor Market Collapse

The latest unemployment data calls into question the notion that anything more than a techical recovery is underway.

“A Scandal’: Contracts Show Trump Giving Big Pharma Free Rein to Price Gouge Taxpayer-Funded Coronavirus Drugs

Drug price gouging is so widespread in the US that it seems unlikely that there will be enough outrage to limit coronavirus drug price gouging.

Education 101: Don’t Open a New Charter School in the Middle of a Pandemic

A hard look at charter school misleading ads, racial segregation, and dodgy economics.

Los Angeles Hit Hard by Implosion of Freelance Work

The collapse of high-end freelance work isn’t just about the loss of incomes. If it persists long enough, it means the loss of capabilities.

Yanis Varoufakis: Interview with Léa El Azzi on Capitalism After the Pandemic, Europe, Greece, Lebanon & the IMF

A discussion of the state of capitailsm, with a European/Lebanase slant.

We Won’t Have a Truly Global Economy Until We Tax It That Way

Tax is an enormously powerful tool for shaping economic policy and thus bears close watching.

Pentagon Porks Up as Covid-19 Bleeds Economy

Quelle surprise! Pentagon grifting continues apace, even in the face of a full-bore domestic crisis.

Michael Hudson on Coronavirus and Debt Winners and Losers

Michael Hudson explains why debt cancellation and turning banks into utilities is the only sound response to the cornacrisis.

Pandemic-Emptied Hotels Could Become Affordable Housing, City Officials Suggest

Potentially thousands of vacant hotel rooms in New York City alone are ripe for conversion into permanent residences, deputy mayor, housing groups and hotel owners agree.

Can the Aspen Institute’s Elite Economists Beat the Coronavirus Depression?

A careful look at a new set of rescue schemes devised by some Serious Economists. Honestly, even Larry Summers could do better than this.

How America’s Covid-19 Rescues Look Set to Increase Inequality

Why the Covid-19 bailouts are coming at a high social cost.