Sunday morning: How the three interweave is difficult to even imagine, yet it is happening. Measures to stabilize the economy work at cross purposes to reconfiguring the economy for climate heating. Those who have been taking climate very seriously have been facing the problem of how to slow the economy down by a large percentage, say 40%. But that would also include some new economic activity – solar and wind for example – while cutting into much that has been central to lives: air and auto transportation, heating large houses. Meanwhile jobs lost, assets are in many cases in free fall, the economy is trying to run on cash without production.
The “stimulus” from congress will be badly distributed.
I am stuck not being able to imagine how we pay people for not working een though it might be a very good idea). Someone decides not to go to work and their employer is told to keep paying them. But the stimulus also pays them, or the employer just keeps the money. The accounting seems awkward and gaming the system looks easy. Airlines who have been using profit to buy back shares to raise price of the stock and raise salary for execs. So tghey are cash broke and want a bailout.
And many of us fear that the increase cash out from the fed will give the Republicans the excuse, facing large deficits, to cut social security.
Addendum Sunday: no government action as congress can’t pass a bill that both meets the needs of working people and the corporate powers. This could lead to Trump taking the whole government under emergency powers.
The economy, capitalist centralism, caused this. The crisis is the result of policy. The result is a vast weakening of the democratic state.
But we have to realize that the Democratic party became the party of the professional class. Then the arrangements were designed that class: school, college, job connections., neighborhoods…..
So we have three major problems to be solved by an absent government
And their solutions move against each other.