When a phony Associated Press tweet reported explosions in the White House, Wall Street's computers reacted as if it were real.
Exercising the right to vote in Mississippi (in 1963). Air travel revolutionized (1958). Feds can't prove their case (1918). Markets plummet (1973). A new way of walkin' (1923). Deadly influenza (1918). None dare call it mutiny (1971)
When the Covid-19 scare has passed, we will have a different government, a different economy and a different financial system. We need to make sure that what we get is an upgrade that works for everyone.
Coronavirus is not only a public health crisis, it is also a shock to the global economy. Working people must demand that government act, or we and our families will pay the price for others’ lack of action, as we so often have in the past.
The great financial catastrophe of our times is still badly misunderstood, and led to grotesque consequences, including the election of Donald Trump
The massive $3.2 trillion destruction in financial value hasn’t sparked a broader financial crisis in China — an illustration of how China’s financial system is different from other major powers. While the People’s Bank of China has sufficient firepower to reverse a crash of several trillion dollars (far more than most other countries), China’s financial system is also comparatively isolated relative to both global finance and China’s own domestic population.
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