The Great Depression 2.0 & Corona Shock

COVID-19: The Great Depression & the Corona Shock

Many economists believe that a recession is already underway. So do millions of Americans struggling with bills and job losses. While the ghosts of the 2008 financial crisis that sent inequality soaring to new heights in this country are still with us, it’s become abundantly clear that the economic disaster brought on by the Covid-19 pandemic has already left the initial shock of that crisis in the dust. While the world has certainly experienced its share of staggering jolts in the past, this cycle of events is likely to prove unparalleled.
While the U.S. has come a long way since the Great Depression, there are still lessons to be learned from it about where we might be heading today. Four key factors from that era — unemployment, the economy, the market, and the Federal Reserve’s response — can provide us with a roadmap for putting this era into historical context.

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Corona Pandemic Enriching the Billionaires

Study: Coronavirus Has Been a Massive Boon for America’s Billionaires

A new study found that in the past eight weeks alone, the country’s super wealthy have added a further $368.8 billion to their already enormous fortunes. All this comes at the same time that the economy has undeniably imploded for working people. A record 36 million Americans have filed for unemployment insurance, with millions more losing their employer-based healthcare plans, and around a third of the country not paying its rent. Of course, the money is not coming from nowhere. It is certainly not coming from billionaires’ hard work. It is coming from us: from our pockets and those of the global poor, who will be forced to pay for the virus and the huge tax cuts later. The fact that billionaires’ wealth is rising so rapidly in a period of economic collapse is a sign that the rich’s wealth is barely even connected to productive forces anymore and has more to do with how much wealth one can take from public coffers.

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American Exceptionalism Shaping Our Response to Coronavirus

Is American Exceptionalism Shaping Our Scientific Response to the Coronavirus?

All such tails are only half the story. The other half is war-making. Conner traces the militarization of science from the Atoms for Peace pretense to today. Over half of U.S. government spending on scientific research over the past 50 years has been on war, including research into nuclear weapons, chemical weapons, biological weapons, “conventional” weapons, drones, torture techniques, and even imaginary weapons never scientifically found to work (such as “missile defense” or “brain washing”).
While New York City suffers through coronavirus, it’s worth recalling that in the name of science in 1966, the U.S. government released bacteria in the New York subways. The bacteria that was released is a frequent cause of food poisoning and can be deadly.

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USAID is American Empire's Arm

Coronavirus stimulus bill funds State Dept/USAID operations that once helped trigger polio outbreak in Syria

While the $2.2 trillion coronavirus stimulus bill was authored in the spirit of beating back a pandemic, buried deep within its text is a stipend for the US State Department operations dedicated to carrying out foreign interventions that have contributed to the outbreak of preventable diseases like polio in Syria and Pakistan.
“Efforts to eradicate the disease in Pakistan, Afghanistan and Nigeria – the only three countries where the disease remains endemic, with ‘wild’ or naturally occurring strains still circulating – have long been challenged by Islamist militants who claim that the vaccinations are a Western plot to make their children infertile, to spread AIDS, or that health workers are undercover Western spies,” Cole explained.
“Forevermore, people would say this disease, this crippled child is because the U.S. was so crazy to get Osama bin Laden,” lamented Leslie Roberts of Columbia University’s School of Public Health.
It was little more than a year after the CIA helped unleash polio on Pakistan that the agency began funneling arms to anti-government militants in Syria through its Operation Timber Sycamore. As parts of the country transformed into havens for the same jihadist fanatics who had been murdering vaccination workers in Pakistan, polio returned and threatened to spread into neighboring states like Turkey and Jordan.
And all along, USAID was blindly dumping resources into these disease-infested regions, helping to consolidate jihadist control under the guise of “stabilization.”
Now, thanks to the coronavirus stimulus package, the same State Department programs that have spread chaos across the Middle East have received a massive shot in the arm.

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COVID-19 Manufactured Consent: How the Media Hyped the Public Into an Anti-China Frenzy

New polls show an overwhelming desire by Americans to see some kind of retaliation against China over its handling of the coronavirus outbreak.
As a result of the media coverage, an epidemic of anti-Chinese xenophobia has also spread across the U.S., even negatively affecting many non-Chinese Asian communities. A Thai woman was racially abused on the Los Angeles subway, Indiana hotels refused to serve two Hmong men on the grounds that they probably had coronavirus and Vietnamese students in California have been bullied and abused at school by gangs yelling “coronavirus.” Racists are not known for their precise knowledge of culture and geography.

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Wall Street Wins Agains, Bailouts in the time of corona virus

COVID-19: Wall Street Wins Again

Once the virus recedes, stock and debt bubbles inflated over the past 12 years are likely to begin to grow again, fueled as then by central bank policies and federal favoritism. In other words, we’ve seen this movie before, but call the sequel: Contagion Meets Wall Street.
Below the surface, however, an epic debt bubble was once again growing, fostered in part by record corporate debt levels. In 2009, as the economy was just beginning to show the first signs of emerging from the Great Recession, the average American company owed $2 of debt for every $1 it earned. Fast forward to today and that ratio is about $3 to $1. For some companies, it’s as high as $15 to $1. For Boeing, the second largest recipient of federal funding in this country, it’s $37 to $1.
What that meant was simple enough: anything that disrupted the system was going to be exponentially devastating. Enter the coronavirus, which is now creating a perfect storm on Wall Street that’s guaranteed to ripple through Main Street.

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Who Profits from the Pandemic?

The game ahead for the elites, taking advantage of the crisis, might well contain these four elements: a social credit system, mandatory vaccination, a digital currency and a Universal Basic Income (UBI). This is what used to be called, according to the decades-old, time-tested CIA playbook, a “conspiracy theory.” Well, it might actually happen.
Mandatory vaccination is Bill Gates’s dream, working in conjunction with the WHO, the World Economic Forum (WEF) and Big Pharma. He wants “billions of doses” to be enforced over the Global South. And it could be a cover to everyone getting a digital implant.
So the key working hypothesis is that Covid-19 could be used as cover for the usual suspects to bring in a new digital financial system and a mandatory vaccine with a “digital identity” nanochip with dissent not tolerated: what Slavoj Zizek calls the “erotic dream” of every totalitarian government.

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Spread of Coronavirus in Belmarsh Prison Brings Death Sentence to Free Speech

ASSANGE EXTRADITION: Spread of Coronavirus in Belmarsh Prison Brings Death Sentence to Free Speech

After the judge’s vindictive ruling, former Green Party Presidential candidate Dr. Jill Stein noted: “Assange is at dire risk in UK prison. Even before #Covid_19nearly 200@Doctors4Assangec alled for his release due to health emergency. As a nonviolent prisoner awaiting trial he should be released on bail. If he dies, how is this not premeditated killing of a political prisoner?”
From media organizations to prisons and courts, depravity has infected every aspect of our society. As corruption of the system signals the crisis of Western liberal democracy, the moral courage of the informed public becomes the only antidote to the virus of injustice that has begun to suffocate the heart of democracy.
Only through each person’s courage to stand up against oppression now becoming contagious, can we defend our democracy and save the life of this imprisoned journalist.

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popping-financial-bubble

The Everything Bubble, Fictitious Capital and Coronavirus

The moral of the story is that it is not possible to print wealth or value. Money in its paper representation of the real thing, e.g., gold, is not wealth it is a claim on wealth.
With regard to Investment banks like Goldman Sachs and the commercial banks they do not create value; they are purely rent-extractive. For example, commercial banks make a loan out of thin air, debit this loan to the would-be mortgagee who then becomes a source of permanent income flow to the bank for the next 25 years.
And what has all of this to do with Coronavirus? Well, everything actually.
The grotesquely over-leveraged world economy was heading for massive correction. The world was a bubble of paper money looking for a pin. It found one.

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When It’s Over, Will We Be the Same America?

When It’s Over, Will We Be the Same America?

Observing the carrier Theodore Roosevelt in Guam offloading scores of sailors infected with coronavirus, will Americans be up for a clash with a China that is even today asserting its claims to the South China Sea?
Will Americans who survive this crisis care whether Iranian-backed Shiites dominate Iraq or Saudi-backed Sunni prevail in Yemen?
If March shocked this nation as severely as 9/11, what is coming may be even more sobering.
Are millions of unemployed workers without the cash to pay for or to find medicine and groceries likely to stay indoors for weeks or months?
All those criminals being given early release from virus-infested jails and prisons without the means to provide for themselves and their families, how will they react to weeks of mandatory sheltering in place?
Will MS-13 and its thousands of members, and its rival gangs that live off narcotics sales, comply?

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COVID-19: War on the Working Class

The unending hunger for accumulation driving capitalism reveals its ugly face most readily in a deep crisis. Whether it’s the mindless carnage of an imperialist war like World War I or the invisible threat to life of a new virus like today, the inhumane, anti-social, selfish soul of capitalism surfaces for all to see. Like the brutal, rigid generals of World War I who relentlessly sent their soldiers into the killing fields for the sake of their vanity, today’s money moguls and their servants are willing to add workers onto the growing list of victims of a killer virus for the sake of their stock portfolios.

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Covid-19 Pandemic and World Hegemony Battle USA vs China

Corona Pandemic: The Perfect Scapegoat for the Financial & ‘Everything Bubble’ Market Crash (The Great Depression 2.0)

As the financial collapse is inevitable as the Federal Reserve can’t keep printing money and creates more bubbles that at some point definitely will pop, the Covid-19 pandemic provided the global elites with the perfect scapegoat where it will be blamed (and it already started) for all the economic and financial crisis, for the massif layoffs, and the economic depression.
Not only that the virus pandemic provides the right excuse, scapegoat and cover up for the economic and financial crash which is going to be worse than the 2008 “Great Recession”, it also attacked severely China and Iran, two countries USA perceives as enemies. It also caused huge number of deaths in Italy, the only and the first country in EU to sign China’s Belt and Road Initiative. With the mysterious origin of the corona virus is Covid-19 pandemic “Killing Several Birds with One Stone” strategy?
While most of the world is figthing the virus pandemic, the battle for world hegemony continues as the global superpower will do everything it can to stay at the top and attack any country it considers as threat or enemy. At the core of it all, it is about United States maintaining its hegemony as the world top power and maintaining its currency as the world reserve currency.

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Event 201 Pandemic Exercise, Oct 18, 2019 in New York.

COVID-19: Is the global pandemic a product of the elite’s Malthusian agenda and U.S. biowarfare?

The recent documentary Cold Case Hammarskjöld, which won an award at last year’s Sundance film festival, puts forth a chilling theory that a South African white supremacist organization deliberately spread HIV/AIDS among black Africans through vaccines in previous decades. If what is claimed about SAIMR is true and that they were connected with Western intelligence, that the COVID-19 virus could be something deliberately spread is not outside the realm of possibility.
The pandemic should be a chilling reminder of the elite’s eco-fascist agenda and the continuous danger that the military-industrial complex puts the world’s population in by continuing to conduct dangerous research into deadly pathogens where the risk vastly outweighs the benefits. If the outbreak has led many to be suspicious of the official story, it is exactly because of the history of U.S. biological warfare and the elite’s potentially genocidal and pessimistic worldview that the only way to prevent the demise of humanity is by thinning the herd.

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US Intel Agencies Played Unsettling Role in Classified and “9/11-like” Coronavirus Response Plan

As the COVID-19 coronavirus crisis comes to dominate headlines, little media attention has been given to the federal government’s decision to classify top-level meetings on domestic coronavirus response and lean heavily “behind the scenes” on U.S. intelligence and the Pentagon in planning for an allegedly imminent explosion of cases.
Little attention was given to the fact that the response to this apparently imminent jump in cases was being coordinated largely between elements of the national security state (i.e. the NSC, Pentagon, and intelligence), as opposed to civilian agencies or those focused on public health issues, and in a classified manner.

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Jeff Bezos, World’s Richest Man, Wants Your Donations To Help Amazon Employees

Amazon CEO Jeff Bezos, worth over $100 billion, who makes on average $230,000 per minute is asking the public for donations to provide basic support to his 800,000 employees who are suffering in poverty in the wake of the COVID-19 pandemic. His calling on the public to help his own impoverished employees was not met well by many.
Amazon is notorious as a bad employer. Forced to forego bathroom breaks, many company warehouse workers are effectively compelled to wear diapers during their shifts. Other employees report working in unsafe environments and being punished for injuries sustained on the job. The company also does not provide its employees with regular access to clean water.
Amazon workers are really poor. In Arizona, for example, the company’s own data suggests that one in three employees depend upon food stamps to put food on the table. It is the twenty-eighth largest employer in the state. However, it ranked fifth on the list for most employees enrolled in the Supplemental Nutritional Assistance Program (SNAP). Across the United States, it is a similar story. In Pennsylvania, for instance, Amazon is the nineteenth largest employer but is in fifth place on the SNAP employees list of corporations.

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