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

Taxes which the government does not need, the government can issue all the (US) currency it needs constrained only by inflation ie the resources and productive capacity of the nation, See MMT.

All production of consumer junk is a waste of resources (inc. labour) , which can be employed on a GND.

Apparently battery storage in the form of pumped hydro schemes can enable shut down of much coal and oil now.

Addressed above. Check out pumped-hydro storage. The real problem is the private sector cannot invest in green, without a carbon tax, whereas government has no such funding constraints, see MMT.

We certainly needed Bernie Sanders as the Dem leader, he has some MMT'ers on his team who know how to fund a GND.

 

Unfettered? Have you any idea how many regulations there are?

 

And how many of them actually apply to your business? I ran a wedding photography business, and none of the regs applied to me, except for nominal things like contract law.

But, an oil refinery? this idea of repealing every regulation that applies to an oil refinery is nuts. Do it on a case by case basis.

For example, say for an auto manufacturer, if a reg resulted in a 5% production cost, but resulted in 50% fewer cases of asthma, then
the health care savings to society is vastly more than the added cost passed to consumers.

The point is, cost/benefit analysis should be studied, before any reg is repealed, or created.

But, if your thinking about regulations is like looking at a sack of potatoes, you see a big fat register with thousands of pages of regs, and think there are too many, well, in every business, not all of them apply, no where near it, and if you understand there are thousands of types of business for which regs have been enacted, you are looking at that book of regs in a simplistic fashion, and you really can't do that. This is a big nation and life is complicated, i.e., it's hard for an individual to see the entire landscape of what's out there and to grasp what's really necessary to regulate it.

I knew someone that tried to start a bakery, and he ran up against the local government, where he had rip out walls just to move an outlet to regulation specs, and crap like that, he got so much of it and it was going to be so expensive just to open up a shop, and take months, he canned the whole idea. And situations like that, yeah, let's do something about it, let's get rid of unnecessary regs. Does it really matter of a wall outlet is one inch away from where it's supposed to be? I don't think so. I think the government needs to get out of this 'can't do that' mindset and get into a 'how can we help you' mindset. See, even though I'm lib, I am pro business. I just want sanity, and insanity on either side of the spectrum is not good.

That being said, reform is needed.

 

This has nothing to do with my post. We don't have unfettered capitalism.

 

You wrote:

Have you any idea how many regulations there are?

Now that I get what you are saying, first off, I DID NOT assert we have 'unfettered capitalism'. We would, however, have it if we repealed all regulations.

But, what I did do is respond to that question, specifically, which, on it's face, is asking me a question about my knowledge of the body of regulations. I made comments specific to the subject you raised in that question. So, in that sense, it has everything to do with the actual wording in your question.

 

Your exact words were "and if it remains unfettered".

 

bad word choice, I should have said ' if it becomes totally unfettered' which is what I meant

 

The most egregious regulation of all is the neoliberal dogma that denies a role for wealth creation in the public sector. You know....the "government's money is taxpayer money" nonsense....and "the $multi trillion government covid debt has to be paid back, etc etc.

See Stephanie Kelton's new book: "The Debt and Deficit Myth".

 

LOL

Right.

 

Perhaps, but barely any of the money now is actually going towards wealth creation in the public sector.
So even if that money was increased, what makes you think that would improve?

 

No, this is what happens when 20,000 mayors and 50 governors each unilaterally declare themselves to be absolute tyrants who can order tens of millions of people into unemployment, millions of families into poverty, and hundreds of thousands of businesses and lived destroyed.

NEVER has ANYTHING like this happened before in the USA where a governor can order Mom and Pop clothing stores are outlawed to force people to shop in massively crowded WalMart stores for Chinese sweatshop clothing or to order Chinese clothing online - so that Jeff Bezos can make another $17,000,000,000,000.00 in ONE DAY.

What the government is doing now is not capitalism. It is tyranny.

 

And yet Trump is the dictator. They have set a frightening precedent. There is no longer any need for congress since they can simply mandate what they want with the threat of imprisonment.

 

The government is controlled by capitalist billionaires. The politicians act on their behalf. A logical end of capitalism.

 

~ Just like China. ...

 

It's no accident the democrats refuse to criticize China for Covid-19

 

By wealth creation in the public sector I mean treasury and central bank funding (via currency-issuance, without taxing or borrowing from the private sector) of education, health, public infrastructure....and a portion of the wages destroyed by this pandemic.

 

Actually Horhey is correct, while your analysis is totally irrelevant.

Firstly; IF covid-19 was as deadly as the 1918/19 flu, would you still be moaning about a lock-down?

Second, the currency-issuing government can support the economy in lock-down for as long as necessary, without taxing or borrowing from the private sector.

Third, the monetary arrangements associated with neoliberalism will destroy capitalism, as Horhey as observed, because money is continually being siphoned to the top via interest on debt owed to private financiers (banksters). See Ellen Brown's blog for an understanding of the consequences of private banking.

Btw, that's the real reason Pompeo is insulting the Chinese leader; US privately funded capitalism is no match for Chinese publicly funded capitalism.

https://ellenbrown.com/2019/06/14/the-american-dream-is-alive-and-well-in-china/