MoA—The crisis will not be over before the fat lady sings. That lady has not even entered the house. A recovery will not be V-shaped. The economy will not spring back into action as soon as the lockdowns are over. It will be a long slog. The U.S. economy always depends on consumer resilience. But with more than 30 million people out of jobs there will be a huge fall of demand compared to before the pandemic.
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The economic situation is dire and is deteriorating. Former Federal Reserve Chairperson Janet Yellen said in a CNBC interview on Monday that the US is in the midst of an “absolutely shocking” downturn. Unemployment is as high as 13 percent, Yellen estimated, and the overall contraction of the US economy is already at 30 percent.
Yellen’s views were seconded by JPMorgan Chase CEO Jamie Dimon, who, in his annual shareholder letter released on Monday, wrote that he expects a “bad recession.” According to Dimon, the gross domestic product could fall as much as 35 percent in the second quarter, and the downturn will probably last through the rest of the year.
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JOE KAYE—Sanders’ use of the term [socialism] is paving the way, not for a socialist movement but for the manipulator politicians to herd those yearning for social justice into the safe channels of European Social-Democracy. European Social Democracy has a long record of betrayal of the fundamental interests of peace and social progress, betrayal of the fundamental interests of working and oppressed peoples. It is neither socialist nor democratic.
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Jimmy does his best not to puke at Obama’s sociopathic self-serving rhetoric. “This guy is a fucking cocksucker…a lying charlatan. Fucking over people in crisis.” We could not agree more. And Jimmy says what we have said many times on this publication, that scumbags like Obama made Trump inevitable. “And fuck the media that props you up.”
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BACK in 2016 we said that social democrats could not be trusted. Less so people deeply immersed, as Sanders has long been, in the filthy liberaloid corporatism of the Democrat party. History offers so many examples to corroborate this that it is a bit redundant to restate such facts. And yet, out of political ignorance, innocence or sheer disregard for the reality before them, or perhaps out of desperation, a legion of Americans, many very young, followed Bernie Sanders once again to exactly the same impossible cul-de-sac he had led them in 2016, to the Democrat party fold to confront the duopoly’s other phony wing, a supposedly genuine ideological enemy instead of simple collaborator in the quadrennial master deception enacted by the American ruling class to certify its own legitimacy before the nation and the world.
