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Alternative Visions -Economic Updates: Corporate Taxes, Amazon Union Vote & Miscellany

Dr. Rasmus reviews the notable economic events and data of the past week. Included are Treasury Secretary, Yellen, proposes for a minimum global corporate tax for the 20 advanced economies, in the latest effort to stop the corporate manipulation of taxes and ‘race to the bottom’ globally in corporate tax revenues; the IMF’s proposal to raise $650 billion in Special …

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Alternative Visions – Biden’s Infrastructure Plan

today’s show focuses on Biden’s just announced Infrastructure Plan. Called a jobs plan, it will produce few jobs in 2021-22 and have virtually no impact on the near term 2021 economic recovery effort. Estimated by the Wall St. Journal at $2.3T, over 8 yrs., very little will hit the US economy in the much needed early stage of recovery in …

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Alternative Visions – Biden’s Tax Plan + Crossroads for American Democracy

Dr. Rasmus provides a first look at President Biden’s Tax proposals, designed to roll back the worst of Trump’s $4T tax cuts in 2018 for businesses and investors. Rasmus describes the 40 year historical tax shift in favor of the 1% wealthiest households, their businesses and their investments—a key hallmark of Neoliberalism policy since 1981.  Biden’s 3-part economic recovery program—the …

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Alternative Visions – Deficits, Inflation and Other Mainstream Economic Nonsense

Now that the Biden $1.9T (actually $1.8T) fiscal stimulus has passed, mainstream economists and media are pumping up the rhetoric it will soon lead to excess inflation and rising interest rates that will endanger the economic recovery. Rasmus debunks the notion that deficits and debt—or ‘too much money chasing too few goods’ cause inflation, as well as related ideological notions …

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Alternative Visions – Wall St., Financial Bubbles, & Financial Instability

Wall St., Financial Bubbles, & Financial Instability February 15, 2021 by jackrasmus Recently I was asked to explain by Michael Albert and ‘Revolution Z’ media how Wall St. stock markets work, what’s up with the recent Gamestop bubble, what’s financial speculation, what causes financial instability and crises–and how they are all related to, or unrelated to, the real economy. Presented in …

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Alternative Visions – Economic Red Flags Rising

Dr. Rasmus discusses the various warning signs in the US economy now emerging, despite the official talk of GDP recovery underway this quarter: the Fed’s warning this week of rising ‘insolvency risk’ and business bankruptcies coming; new claims for jobless benefits rising again and consistently more than 1 million/week since October; the recent retail sales bump as really a warning …

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Alternative Visions – Gamestop & the Game That Never Stops

Dr. Rasmus discusses the ‘topic of the week’, the fight between day traders and big institutional investors like Hedge Funds as financial markets reach bubble heights due to trillions of dollars of free money being pumped into investors’ pockets of all kinds in recent years.  The role of destabilizing technology in financial markets behind the financial conflict. The financialization of …

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Alternative Visions – Trump’s Political Legacies

as a follow up addendum to a prior week’s show on ‘Trump’s Toxic Economic Legacies’, today’s Alternative Visions show discusses Trump’s Political Legacies. At the top of the list is the deep change in political consciousness among all sectors of US society that Trump’s regime—and in particular his last year in office—have generated. Political elites in Washington have been deeply …

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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 …