When this is all over, will we be able to patch up the economy and get things back to normal? Trump certainly claims so. But he's wrong. The pandemic is exposing just how dysfunctional our economic system was to begin with.
Rob Wallace, Alex Liebman, Luis Fernando Chaves and Rodrick Wallace
Monthly Review
The way out is nothing short of birthing a world (or perhaps more along the lines of returning back to Earth). It will also help solve—sleeves rolled up—many of our most pressing problems.
The catastrophe demonstrates the results when public health is subordinate to private profit and to a governmental apparatus that adulates the superiority of private over public administration.
The social breakdown, symbolized by Trump's election and the malign effects of austerity policies serve to destroy faith in neoliberal capitalism. When that faith started to fray, new forms of outsider populist politics emerged left and right.
Corporate debt among non-banks exploded to $75 trillion at the end of 2019, up from $48 trillion at the end of 2009. There is increasing alarm that companies in the energy, hospitality and auto sectors won't be able to make their bond payments.
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