Job Losses Spike, 1/3 Can't Pay Rent, Depression Imminent

Discussion in 'Latest US & World News' started by Horhey, Jul 9, 2020.

  1. Horhey

    Horhey Well-Known Member

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    This is what happens when government is captured by private power. An inevitable outcome of capitalism. Especially when there's no organized Left to put pressure on the state. They were decimated by the ruling class during the Cold War. The CIO and socialist and communist parties had pushed FDR to give us the New Deal. FDR did it to "save capitalism" from revolution.

     
    Last edited: Jul 9, 2020
  2. Giftedone

    Giftedone Well-Known Member Past Donor

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    Wow - 50 million applied for UI since the start of Covid - out of a total workforce of 160 million - almost 1/3 of the entire workforce.

    The volcano erupted - the ash has caused damage - but the economic Tsunami has yet to hit.

    This is a disaster.
     
  3. One Mind

    One Mind Well-Known Member Past Donor

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    Top down neoliberal capitalism will always always give us financial driven crashes and depression. As it send income to the top starving out most others. It destroys the middle class.

    The liberal left used to save capitalism but is now complicit with the right.

    We never learn the right's way always fails. And the party of FDR is gone.

    History may not repeat but it does rhyme.
     
  4. One Mind

    One Mind Well-Known Member Past Donor

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    Look for housing loans to default again. In large numbers.
     
  5. mitchscove

    mitchscove Well-Known Member Donor

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    Maybe big bird can hire more artists to paint BLM logos in front of all Trump properties instead of just Trump Tower in NYC. He needs to do something with the money he took from law enforcement.
     
  6. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    Yeah it's bad... everywhere not just the US, then there's the massive iceberg the central bankers created for us. I'm starting to get bullish on crypto, it's very risky but you have to wonder how risky exactly compared to the US$ or doing nothing. And doesn't that put things into perspective because a year ago I wouldn't touch crypto.. now it's starting to look like a way forward.
     
  7. mitchscove

    mitchscove Well-Known Member Donor

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    What part of the Communist Chinese launched, Socialist State enhanced viral slowdown of the US economy has anything to do with freedom or free markets? If we hadn't given away the country to the ChiComs in 2000, there might be a different story to tell.
     
  8. Denizen

    Denizen Well-Known Member

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    It is very evident that unemployment is being hidden and under-counted to help Donald Trump's political fortunes.

    There is no doubt that many companies will take the opportunity to shed employees to slim down to adjust to the new normal of a lower GDP during the Covid19 pandemic.

    Donald Trump has corrupted every branch of government.
     
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  9. Doofenshmirtz

    Doofenshmirtz Well-Known Member Past Donor

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    Capitalism didn't create a virus or shut down business. Government abuse of power is why people can't work or pay rent. The same politicians with nice haircuts shut down the barber shop. Mom and pop were forced to close their doors so people could crowd into WalMart to buy non-essentials.

    The inevitable outcome of capitalism will be new and better ways to conduct business. In addition to people not paying rent, commercial real estate will lose demand as people learn to work from home.

    BTW, UPS is extremely short handed in spite of calling in their seasonal workers they don't normally use until the holidays. Many companies are hiring. We will be okay.
     
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  10. GlobalCitizen

    GlobalCitizen Well-Known Member

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    How did you link this to an economic system? If you shut down for months, it doesn't matter what system you have. Expect depression.
     
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  11. Booman

    Booman Banned

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    So the government shut down the private sector for months causing millions to lose there jobs and millions of businesses to close, many permanently and you are saying the private sector is to blame? And there is an organized left. They are busy demanding statues be torn down, history be erased and looting and burning neighborhoods. And that's when they're not busy demanding men in dresses be allowed to use the ladies room and jail for anyone who uses a gender specific pronoun.
     
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  12. Horhey

    Horhey Well-Known Member

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    Other developed countries don't have an unemployment or rent crisis. They subsidized wages, rents and mortgages. Washington just gave employers money and increased unemployment insurance. The policy was effectively trickle down aid and mass unemployment.
     
  13. Horhey

    Horhey Well-Known Member

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    Capitalism created the oligarchs.
     
    Last edited: Jul 9, 2020
  14. Booman

    Booman Banned

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    It also lifted tens of millions out of poverty.
     
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  15. Horhey

    Horhey Well-Known Member

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    During the New Deal period. That ended in the late 1970s.
     
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  16. Booman

    Booman Banned

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    The great depression ended in the 1970's?
    The New deal was private sector?

    I'm awake, right? This is actually happening?
     
  17. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    I'm liking gold. The 1/10 oz coins I been buying have been sold out everywhere for months. Only ones available are larger 1/4oz-1oz coins, which you gotta save a much bigger chunk of change to afford. So far, the decreased supply hasn't substantially increased the price, which means the price is being artificially manipulated. That can't happen forever...
     
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  18. Horhey

    Horhey Well-Known Member

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    The 1970s saw a transition from the New Deal era to the current neoliberal Washington Consensus.
     
    Last edited: Jul 9, 2020
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  19. Booman

    Booman Banned

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    Now you're just throwing around terms you don't really understand to sound intellectual. You need to actually research poverty rates and the government's involvement.
     
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  20. Horhey

    Horhey Well-Known Member

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  21. Booman

    Booman Banned

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  22. Giftedone

    Giftedone Well-Known Member Past Donor

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    Wait until the commercial property meltdown ....
     
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  23. modernpaladin

    modernpaladin Well-Known Member Past Donor

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  24. Gatewood

    Gatewood Well-Known Member

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    Pssst . . . inside the United States it's been the political Left and their politically allied media outlets pushing Covid-19 hysteria panic-porn to the absolute LIMIT to prevent states from re-opening for business solely so that they can blame the economic harm THEY created . . . on Trump. No charge for the reality check. Enjoy.
     
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  25. Horhey

    Horhey Well-Known Member

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    The capitalist business model necessitates cheap servile labor.
     
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