The one thing America does not need right now as we slide into a potential global depression is more corporate welfare tax cuts. The Republican 2017 corporate welfare tax cut bill has already put the U.S. in a difficult financial bind to respond to this quickly developing economic crisis. But Republicans only know one tune, … Read more
Above Photo: Unemployment line in the Great Depression. This would not be allowed today under the CDC guidelines for the coronavirus pandemic (not allowed to congregate in restaurants, six feet of spacing for social distancing). We are living in interesting times, as the old Chinese curse goes. In an unprecedented move in modern history, the … Read more
In an emergency move on Sunday, the Federal Reserve announced it is dropping its benchmark interest rate to zero and launching a new round of quantitative easing. Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program: The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity … Read more
I have said before that someone needs to go to court and get a “gag order” to keep Donald Trump from tweeting or talking about the coronavirus pandemic. His attempts to politicize what should be an emergency medical response by the federal government has already cost people their lives. It is also wrecking the economy. … Read more
Wall Street took a beating Monday as collapsing oil prices and fears about the impact of the coronavirus almost nudged the American economy out of the longest bull market in history, exactly 11 years to the day since it began. Dow closes with decline of 2,000 points, almost ending 11-year bull market. The Dow Jones … Read more