From Wolf Richter at Wolf Street. The Trump administration is considering a $850-billion stimulus package (bailout) for corporate America. This includes a bailout for the airline industry - the same airline industry that spent the past few years spending cash and...
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SCARE!
It has arrived, a pandemic. It swept the world, we watched, laughed and ignored it. Memes were made, media excitedly reported and millions speculated. It was fun to tinker inside of our minds what we would do should the zombie hoards arrive. We had seen the movies,...
News Roundup 3/17/20
US News The primaries in Ohio, Georgia, and Louisiana have been postponed due to coronavirus. The primaries in Florida, Illinois, and Arizona will be held today. [Link]The Senate passes a bill that will extend the life of three mass surveillance programs - including...
Could the Coronavirus Be Fatal for the EU?
Since the EU’s debt crisis over Greece in 2009 and the subsequent problems with Italy, Spain, and Portugal, eurozone banks have dedicated their balance sheets to financing government deficits. At a cost to the commercial banks’ own cash flows, negative deposit...
Corona Crow is a Feast Fit for Kings
Sympathy and hope for “fear and loathing” in these uncertain days If only the chemically constricted pupils of Hunter S. Thompson could see us now. I wonder if he’d look up from his gourmet-plated cocaine and through the smokescreen of cigarettes and...
3/16/20 Jim Bovard on the Police Killing of Duncan Lemp
Jim Bovard shares the story of the death of Duncan Lemp, a 21-year-old Maryland man recently killed by police in his home in the middle of the night. The police aren't releasing their side of the story yet, but it looks as though Lemp hadn't even been charged with any...
3/13/20 Joe Lauria on the Heroic Julian Assange and Chelsea Manning
Joe Lauria discusses the latest with Chelsea Manning and Julian Assange. Manning has finally been released after a year in jail for contempt of court after refusing to testify against Assange in his extradition trial. Assange is still being held while his trial in...
Think Deficits Are Bad Now? You Ain’t Seen Nothin’ Yet
The Trump administration has been operating with a crisis-like fiscal policy for nearly four years. Now it looks like America’s hurtling toward a genuine economic crisis. What’s next? The U.S. appears to be heading for economic lockdown as the impact of the...
Year Zero 102: Coronavirus; The Panic and The Pandemic
Tommy takes a jab at easing fears surrounding the Coronavirus and tries to explain why the panic is worse than the virus itself.
3/13/20 Ryan McMaken on the Coronavirus and our Fragile Economy
Scott interviews Ryan McMaken about the current coronavirus-induced financial slowdown and what it might mean in terms of the next big crash. McMaken explains that with America's incredibly over-financialized economy, practically the only tool that the government...
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