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America has lost more than 12 million jobs in the last six months. An estimated 12 million people have lost their employer-sponsored health insurance… - Mark Weisbrot
" "America has lost more than 12 million jobs in the last six months. An estimated 12 million people have lost their employer-sponsored health insurance during the worst pandemic in a century. Tens of millions report not having enough to eat. But one month ago, tens of millions of unemployed Americans lost... a $600 weekly federal unemployment insurance benefit that Congress failed to renew... How can this happen in a democracy? This is a question that everyone who works for a living... might want to consider on this Labor Day... If the facts of this political disaster were more widely known and understood, Republicans could lose not only the presidency but also the Senate in November. After all, millions of unemployed Republicans lost most of their income as a result of what their political party...did... Republican senators repeatedly expressed worries that the unemployment benefits created a "disincentive to work." But economists have found no evidence of this; on the contrary, millions of workers who were receiving these benefits returned to work in May through July, and there are more than 11 million more workers and there are more than 11 million more workers unemployed than there are job openings.
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About Mark Weisbrot
Mark Alan Weisbrot is an American economist and columnist. He is co-director with Dean Baker of the Center for Economic and Policy Research (CEPR) in Washington, D.C. Weisbrot is President of Just Foreign Policy, a non-governmental organization dedicated to reforming United States foreign policy.
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Economic sanctions, as the U.S. is applying against Iran, Cuba, Venezuela, and other countries, cause immense harm... there is no doubt that Iran's capacity to respond to the novel coronavirus has been hampered by the Trump administration's economic sanctions, and the death toll is likely much higher than it would have been as a result... There can... be no question that the sanctions have affected Iran's ability to contain the outbreak leading in turn to more infections, and possibly to the virus' spread beyond Iran's borders... If the U.S. government is going to assist other countries, let alone provide some kind of leadership role during this global crisis, the first thing it should do is 'cause no harm, "Economic sanctions, as the U.S. is applying against Iran, Cuba, Venezuela, and other countries, cause immense harm.
All this [in Ecuador] is taking place under a government – elected in 2017 on a platform of continuity – that seeks to reverse a prior decade of political reforms. These reforms were, by measures of economic and social indicators, successful. Poverty was reduced by 38% and extreme poverty by 47%; public investment – including hospitals, schools, roads, and electricity – more than doubled as a percent of the economy. But the prior government was a leftwing government that was more independent of the US (by, for example, closing down the US military base there). One can imagine what this looks like, as the Trump administration now gains enormous power in Ecuador... Lenín Moreno, has aligned himself with Trump’s foreign and economic policy... his government is persecuting his presidential predecessor, Rafael Correa, with false charges filed last year that even Interpol won’t honor with an international warrant.... Since Washington controls IMF decision-making for this hemisphere, the Trump administration and the fund are implicated in the political repression as well as the broader attempt to reconvert Ecuador into the kind of economy and politics that Trump and Pompeo would like to see, but most Ecuadorians clearly did not vote for.
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The Trump administration is repeating the collective punishment strategy in Venezuela with a crippling financial embargo since August 2017 and, since January, a trade embargo. The financial embargo has prevented any measures that the government might use to get rid of hyperinflation or bring about an economic recovery, while knocking out billions of dollars of oil production. The trade embargo is projected to cut off about 60 percent of the country’s remaining meager foreign exchange earnings, which are needed to buy medicine, food, medical supplies, and other goods essential to many Venezuelans’ survival.
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