Alternative Visions

Alternative Visions - Biden Announces New $1.9 Trillion Stimulus Package (American Rescue Plan)

Dr. Rasmus unpacks the details of Biden’s just announced first economic stimulus package of $1.9T, called the ‘American Rescue Plan’. The four sections of the package are explained in detail: the $400 billion for Covid, vaccine distribution, PPE, emergency paid leave, and schools reopening; the $1 trillion additional for direct family relief in the form of $1,400 checks, extended unemployment benefits, rent-food-child care assistance, child tax credits, vets health, and other assistance; and the added $440 billion for community and local governments support and to help women and minority business reopening. Dr. Rasmus raises the important provisos of how much of the $1.9 trillion will get into the US economy and how soon in order to stabilize a now rapidly declining 1^st quarter US economy slipping into a double dip recession. Also addressed is how much of this $1.9T proposal will actually get through Congress in coming weeks and how much unnecessary further tax cuts for big business and investors will be tacked on to it by Republican friends in Congress. Listeners are welcomed to check out the print version of this topic that will appear on Dr. Rasmus’s blog at http://jackrasmus.com this weekend.

Alternative Visions - Trump’s Toxic Economic & Political Legacies

 Dr. Rasmus sums up the major economic and political legacies of Trump’s 4 years in office, discussing Trump’s accomplishments on behalf of big corporations, investors and the wealthy 1% and their impact on the rests of us: his $4T tax cuts, gutting deregulation, trade wars, China tech war, intimidation of the Fed & free money, stock market bubbles, funding of military industrial complex, etc.  Political legacies include not only breaching formerly sacrosanct legislative branch (Congress) with recent incitement of mob assault but long list of Trump measures chipping away at US Democracy, stacking the US Supreme Court with ultra conservatives, institutionalizing white nationalism in Republican Party, demonization of immigrants, wrecking prior US imperial relationships with its allies, and de-legitimizing US electoral process for tens of millions of US voters. What next for US economy & political system after Jan. 20?

Alternative Visions - Declining American Economy and Stimulus Negations

Alternative Visions - Economics Consequences of a Failed Stimulus + Trump’s Plan B

Dr. Rasmus discusses the growing economic crisis for millions of wage earners at the end of 2020, as Congress continues to debate a year end fiscal stimulus package. The bargaining maneuvers going on between McConnell, Mnuchin, Trump, Pelosi-Shumer, and the corporate wing of the Democrat Party are assessed. What it means for the unemployed, renters, students, small businesses, homeowners, and others. The show concludes with an analysis of Trump’s final move to overturn the Electoral College results before 12-14 deadline. What may be his strategy behind his ‘Plan B’? Will it succeed?

Alternative Visions - Stimulus Negotiations Status Update + Latest Dismal Job Numbers

 Dr. Rasmus reviews latest labor department jobs numbers released today and compares them to the more accurate new unemployment claims numbers released yesterday. The various categories of jobless that aren’t included in the monthly jobs numbers and why unemployment benefit recipients are double that of the officially unemployed reported every month by the labor department. The show then focuses on the state of the current negotiations on a stimulus bill in Congress. The elements of the various proposals are described: McConnell’s $519 billion vs. the ‘Bipartisan’ Senate proposal $908 billion introduced last week vs. the Pelosi-Shumer original $3 trillion stimulus of last May (now reduced to $2.2 trillion since August). What’s in each. Why Biden and corporate Democrats are pushing Pelosi-Shumer to ‘capitulate’ to Republican positions (McConnell’s & Bipartisan Senate). Why Biden’s call to take what’s on the bargaining table now and we’ll come back for more after January 21, 2021 is a subterfuge and why there’ll be no ‘second’ stimulus in 2021.

Alternative Visions - US Treasury vs. US Federal Reserve ‘Rift’ + Functions of Capitalist Central Banks

Dr. Rasmus discusses what’s behind the recent so-called ‘rift’ between the Mnuchin Treasury and Powell’s Federal Reserve bank. Why is it that Mnuchin ordered the return of $455 billion unspent stimulus funds passed in March while hundreds of thousands of small businesses are going under, 20-25m workers still unemployed, food lines growing, and rent evictions accelerating? The political reasons behind Mnuchin (and Trump & McConnell) actions to ‘take back’ the money allocated in the last March Cares Act from the Fed. Rasmus uses this event to explain the functions of these two key economic US capitalist institutions—the Treasury and the Fed and to debunk the mainstream economics fiction that central banks like the Fed are ‘independent’ of capitalist bankers and their politicians. Rasmus offers a short history lesson of

Alternative Visions - US triple crisis worsens

Dr. Rasmus explains why the triple crisis in America is intensifying once again. why the US economy is deteriorating. why covid health crisis is worsening. why the US political crisis is deepening as Trump tries to get the electoral college to change votes. 

 

Alternative Visions - Election ‘Takeaways’ + Trump’s Election Challenge 4 Decision Points

 Dr. Rasmus reviews the significant political & economic takeaways 10 days now after the election. Then discusses the four dates in December that amount to milestones for Trump to try to overturn the election. How each offers an opportunity for Trump to reverse, or at least delay, the certification of the election and create more political and economic chaos in the interim. Rasmus briefly also discusses what’s going on with Trump’s firings in his Defense Dept and national intelligence agencies? Is he preparing a foreign policy ‘October Surprise’ in December?  A review of key issues in the Supreme Court’s upcoming ACA decision & why tax cuts for the rich is really at its core. The Pfizer vaccine and its possible disappointment. The China-US Trade War deal one year after. The show concludes with comments on an early look at Bidenomics and why it will likely be Obamanomics 2.0 warmed over—and therefore insufficient to stimulate the economy in 2021

Alternative Visions - Election Analysis & Economic Consequences

Alternative Visions - Debunking 3rd Quarter US GDP + Trump’s Coup D-Etat Plan

 Today’s show covers the two topics. In first half hour, yesterday’s US GDP preliminary numbers are debunked. Why the 3^rd Qtr net growth is only 2% not 7.4% and why annualized numbers showing 33.1% should be totally disregarded as phony statistical exaggerations. What’s behind the 3^rd quarter growth, industry by industry, why it reflects slowing momentum for the economy, not growth, and why the fourth quarter (and late 3^rd) indicators reflect a possible negative 4^th quarter. Definitely a ‘W-Shape’ trajectory and not at all a V-shape per Trump and apologists. Big factors driving a negative 4^th quarter are no fiscal stimulus, resurgence of Covid in worst wave to date over winter, and political instability post November election.  Second half of the show addresses the growing evidence of Trump’s plans to refuse to leave office by stopping the mail in ballot vote count in swing states, with help of courts include his 6-3 majority on SCOTUS. The likely scenario is discussed, as the electoral college vote is 244 v. 248