In the first half hour of the show, Jack Rasmus takes on the professional economics forecasting establishment and their continual missed prognostications about the condition and direction of the US economy. Reviewing the most recent US economic data for March and April, revisions of US first quarter 2015 GDP estimates in late May show the US economy performed worse in the January-March period than the 0.2% GDP initial estimated growth rate. Jack discusses how new data on business inventories, trade, and retail sales will show a -0.5% or even worse in first quarter US GDP. Data for March and April already show a continuing soft trend, with US retail sales flat, and sales of autos and big ticket items collapsing.
Jack Rasmus updates last week’s show on the decline in US GDP with new data for trade, productivity and jobs, and reviews events of the global economy in Europe, China and elsewhere including the Euro and global bond market sell off of the past week. A preview of his new book, ‘Systemic Fragility in the Global Economy’ due later this summer, is offered, describing the 9 key trends in the global economy today that represent the ‘dead cat bounce’ recovery: slowing real investment, drift toward deflation, explosion of central bank liquidity and credit, rising global corporate debt, the shift to speculative financial asset investing, the restructuring of financial and labor markets in the 21st century, and why central bank monetary policy and government fiscal policies are failing to generate a sustained real recovery of the global economy. How it is all resulting in rising global income inequality in turn.
Dr. Jack Rasmus analyzes US 1st Quarter GDP numbers, where US economic growth flattened out to a mere 0.2%–the fourth such collapse in the US economy in as many years. Is it due to the weather, as some argue? Is there something wrong with US statistics, showing four collapses since 2009 all occurring in the winter? Or are there real economic explanations for why the US economy periodically surges in the summer then stalls out in the winter, as it has since 2011? Will this winter 2015’s stall be followed by another ‘temporary surge’ in growth this summer?
Jack Rasmus discusses the recent report that the wealthiest 1%, who own most of the stock in US corporations, will receive more than $1 trillion in stock buybacks and dividend payouts in 2015. Buybacks-dividends delivered $3.8 trillion since the end of the recession in 2009, with another trillion coming this year.
Jack Rasmus welcomes grass roots organizers, Emmelle Israel of the AFL-CIO and Kali Gochmanofsky of Citizenstrade, who are helping to organize opposition to the pending passage in Congress of ‘fast track’ and the TPP, the Trans Pacific Partnership free trade agreement. Emmelle and Kali describe what’s going on with today’s (Saturday April 18) national day of actions against the free trade agreement and where listeners can go to participate today, Saturday, April 18, and in days to follow.
Jack Rasmus interviews long time union representative, Jerry Gordon, and co-organizer of the upcoming Labor Fightback Network conference, to be held May 15-17, at Rutgers, New Brunswick, New Jersey. (For information on the conference, go to: www.laborfightback.org/conference/ Gordon explains the objectives of the conference, where leading local union and community leaders from across the country are gathering to develop a …
Dr. Jack Rasmus turns the focus of today’s show from the global economy to the USA economy specifically. Is the USA economy ‘exceptional’, i.e. growing robustly while the rest of the global economy slows or stagnates? Rasmus explains that assumption of US Economic Exceptionalism is a myth. The myth is based on US GDP growth last summer 2014 of 4-5% …
A two part show re-launches Alternative Visions today. In the first part, Jack interviews long time progressive activist, writer, journalist and educator, Michael Albert, of the ‘Z Collective’ to explain the new radical political online school being launched starting next week, called ‘Z School’.
* The Oxford Real Farming Conference has rapidly outgrown its decades-old establishment counterpart and is calling for radical reforms to the industrialised intensive model they represent Two visions of the future of farming played out in Oxford this week. The five-year-old Oxford Real Farming Conference (ORFC) at the town hall, sponsored by organic farming company Sheepdrove and dominated by small-scale …