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Alternative Visions – Working Class Labor Day 2021

Dr. Rasmus addresses the state of working class America this labor day 2021. Creeping austerity is the defining term, as unemployment benefits are being cut, rent assistance not distributed & rent moratorium ending, job creation rapidly falling off by late summer in today’s Labor Dept. jobs report, child care payments due to expire in December, student loan forbearance in January, …

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Alternative Visions – The Fed, the ‘Taper’ & the Real US Economy

: Dr. Rasmus reviews Fed chairman Powell’s decision today, as the Jackson Hole, WY meeting of central bankers kicks off. Powell signals in his opening statement a possible earlier ‘taper’ of the Fed’s $120 billion/mo. injection of free money into the banks and investors ($4T since Covid recession began). Why the Fed continues to ‘pre bail out’ investors when they …

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Alternative Visions – Afghanistan & the American Imperial Project

Dr. Rasmus discusses his latest published article, ‘Afghanistan & the American Imperial Project’ (see his blog, http://jackrasmus.com, for free copy), explaining the US retreat in Afghanistan has to do with the inability of the US to maintain the costs of empire in the middle east (not just Afghanistan) and simultaneously pay for the cost of the new ‘wars’ looming on the …

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Alternative Visions – Covid Recession Year One: Who Gained, Who Lost?

Topic of today’s show is who has gained in income terms over the first full year of the Covid induced US recession. Dr. Rasmus looks at the period, 2nd quarter (April-June) 2020, when the US economy crashed and compares it to most recent quarterly data in 2021 for April-June this year. Those receiving capital incomes and corporations registered record gains: billionaires …

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Alternative Visions – Jobs Report, Infrastructure Status & CBO on US Deficit

Dr. Rasmus dives into the details of the latest US jobs report, showing how the 943,000 new jobs for July is grossly distorted by seasonality adjustment bias by hundreds of thousands over-estimated. Why there are still 17m jobless (not 8.7m) and the unemployment rate is really 10.5%, not 5.4%. In the second half of the show, the current state of …

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Alternative Visions – Marx’s Economics vs. Contemporary Marxist Economics: Part 3

In this final 3rd show discussion the differences between what Marx said and what economists today erroneously say he said, Dr. Rasmus addresses two historic issues in Marx’s analysis of capitalism. First is the idea, held by many contemporary economists who consider themselves Marxists, that under capitalism the rate of profit tends to decline over time, leading to ‘crises’ in the …

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Alternative Visions – Marx’s Economics vs. Marxist Economics: Part 2

Dr. Rasmus continues the clarification of what Marx really said vs. what contemporary economists (Marxist & Mainstream anti-Marxist) claim as Marx’s economics. Dr. Rasmus explains the 10 conceptual innovations Marx makes on the framework of classical economists before him (Smith, Ricardo, et. al.) to develop his theory of capitalist exploitation that drives the system to a breakdown crisis in the …

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Alternative Visions – Marx’s Economics vs. ‘Marxist’ Economics: Part 1

Dr. Rasmus continues his analysis of three great economists (Keynes, Marx, Smith) in today’s first of 3 part series on ‘Marx’s Economics’. What are the origins of Marx’s economic thought? How it critiqued classical economics before him, while borrowing and adapting concepts from the classicals. What were the original contributions of Marx’s economics, conceptually and otherwise. Why Marx is about …