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The American System

May 2020

May 9, 2020 - World Crisis Radio

May 9, 2020

Worst Monthly Job Report In US History Marks Official Opening Of The Trump Depression, With U-3 Unemployment Rate Of 14.7%; In Attached Note, Labor Department Concedes That Real Jobless Rate Is Nearly 20%, As Forecast Here; Bureau Of Labor Statistics Must Count Those Temporarily Laid Off And Discouraged Workers Who Want To Work But Have Given Up In Despair; Add In Also An Estimated 10 Million Trying To Register With State Unemployment Offices, With 1 Million Of These In Florida Alone; Current Collapse Is Faster Than Job Loss After Great Crash Of October 1929; Shadow Government Statistics Estimates Actual Jobless At 35.7%

Financial Crisis Started Long Before Covid Virus In Mid-September 2019, When Fed Started Pumping Trillions Into Collapsing New York Repo Market; From That Moment, Trump Bubble Was Headed To Short-Term Deflation;

Solution Is Full Panoply Of New Deal Economics, With WPA/PWA Program Of Massive Job Creation Paid For By 1% Wall Street Sales Tax And 0% Federal Reserve Credit, 50% Increase In Food Stamps, Medicare For All Who Want It, Fully Funding Medicaid And Obamacare, And Rescue Packages For US Postal Service And Social Security, With Efficient Disbursements Through A New Reconstruction Finance Corporation;

Despite Hype, Sweden’s Pandemic Deaths Of 3,175 Are Three Times The Combined Fatalities Of Norway, Denmark, Finland, And Iceland, Who Have 70% More Population;

At Trump’s Court Of Miracles, The Inimitable Louis Gohmert Interrupts The Adulation To Brand Pelosi’s House Select Committee On The Coronavirus Crisis The “Committee Of Oligarchs To Unelect The President” (COUP); But The Coup Is On The Other Foot!

On The Seventy-Fifth Anniversary Of V-E Day, Greetings To All Opponents Of Fascism!