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Trump and the Money Men Show Their True Colours By Chris Knight

     It was all so predictable; President Donald Duck, who could have prevented the lockdown by shutting the borders fast, as many other nations, such as Mongolia did, but did not since the US is a cuck for migrants, including China, now faces the grim economic prospects of paying people decent unemployment benefits, after destroying their jobs, or let them starve, constraining their dying protests by the guns of the military. A version of this problem will face Australia too, of course. Most of the jobs that have been lost are gone for good, because economies are not like light switches, that can be turned on or off, but more like organisms, who when shot through the heart, simply die:
  https://www.washingtonpost.com/business/2020/05/21/unemployment-claims-coronavirus/

“The Trump administration, top Republicans and powerful corporate lobbyists mounted fresh opposition Thursday to extending enhanced unemployment benefits to the growing number of Americans who are out of work, raising the prospect of significant cuts to their weekly checks unless lawmakers act by the end of July. The latest round of threats came hours after U.S. government released dour new jobless figures showing an additional 2.4 million Americans sought unemployment aid just last week, further compounding an economic crisis that already rivals the Great Depression in its severity. Over the span of nine weeks, more than 38 million Americans have filed unemployment claims across the country because of the impact of the coronavirus pandemic. In March, Congress passed a law that gave people filing for unemployment benefits an additional $600 each week until July. The debate about whether to extend those benefits this summer has touched off fierce debate in Washington over the extent to which continued aid is necessary to stimulate a sagging economy. Some White House officials and Republicans say the extra payments are creating a disincentive for people to return to the workforce, potentially holding back the economic recovery. But so far there is no consensus over how to proceed, with some calling for phasing out the benefits entirely and others supporting a one-time payment that could encourage Americans to return to work.

“In certain cases, we’re actually paying people more than they made, so we have to fix that,” Treasury Secretary Steven Mnuchin said in a live stream hosted by the Hill news organization. Senate Majority Leader Mitch McConnell (R-Ky.) blasted the expanded benefits as a “crazy policy” in a private meeting with lawmakers Wednesday, according to a person familiar with the remarks who spoke on the condition of anonymity because they were not authorized to reveal details of the meeting. The party’s position is backed by the U.S. Chamber of Commerce, which on Thursday joined Republicans in arguing that the extra payments might deter people from returning to work. The renewed Republican opposition has incensed some congressional Democrats, who instead have sought to maintain and augment federal unemployment aid. During the Great Recession, lawmakers from both parties extended expanded unemployment benefits because so many Americans struggled to find work, particularly when long-term joblessness became a growing problem. The unemployment rate in April hit 14.7 percent, higher than any point during the Great Recession, suggesting that the unemployment benefit challenges could prove even more complicated this time. Democrats argue along with a stable of economists that the expanded jobless benefits are critical at a time when Americans have lost their jobs through no fault of their own — and desperately need the money to pay their bills and protect their homes. “The worst thing Republicans can do to the economy and American families is to allow supercharged unemployment benefits to expire,” said Sen. Ron Wyden (D-Ore.).”

     Although the Democrats have a social agenda in mind, there is a little merit in their concerns, since if the government decides to shut down an economy and throw people out of work to suit its health policies, it has a moral, if not legal, duty to supply support. To fail to do so, would be an excellent and compelling argument for revolution, and we all know where this will go. Conservatives have a problematic commitment to money and free flowing (globalist) capitalism, and not enough concern for the plight of the little people, which is the Achille’s heel of the movement, since the capitalist powers always use them as play things and useful idiots, however sophisticated the econometric modelling is.

 

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Sunday, 05 July 2020
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