20 épisodes

Dr. Jack Rasmus will focus on today’s continuing crisis in the U.S. and global economies.

Alternative Visions Progressive Radio Network

    • Technologies

Dr. Jack Rasmus will focus on today’s continuing crisis in the U.S. and global economies.

    Alternative Visions - The Heroes Act: DOA?

    Alternative Visions - The Heroes Act: DOA?

     Dr. Rasmus explains the latest Congressional bill to try to stimulate the US economy, called the Heroes Act, passed a week ago. What are the elements? Will they continue to ‘mitigate’ the virus impact on the economy or actually stimulate recovery? Why is McConnell in the Senate, Republicans, and Trump opposed and blocking it? What are their arguments and are they accurate? Rasmus provides a background analysis of the four previous ‘mitigation’ bills, the central CARES ACT passed in April in particular. Why are the large corporations not taking up the $500B in loans, why is the Main St. provision for medium sized corps not even implemented yet? Why and how the small business PPP provision being ‘gamed’ by larger companies? Problems with a primary monetary stimulus strategy that is the CARES ACT.

    • 58 min
    Alternative Visions - America’s Triple Crisis & the Organization Question

    Alternative Visions - America’s Triple Crisis & the Organization Question

    Today’s show invites former Sanders’ grass roots organizers, Nick Brana (senior staff member of Sanders’ 2016 campaign) and Jerry Perez (current field director for Sanders’ Our Revolution grass roots organization in Los Angeles) , to discuss the emerging formation of an independent political party in the wake of Sanders’ capitulation, who abruptly dropped out of the Democrat party primary race and endorsed Joe Biden. Rasmus briefly explains the dimensions of the ‘triple crisis’ today: the economic crisis now deepening; the health (virus) crisis accelerating the economic decline that began late 2019; and the political crisis about to intensify even further between the two wings of the corporate party of America—aka Trumpublicans and Democrats. Rasmus reviews the dimensions of the emerging political crisis and the recent trajectory of the Sanders campaign and its collapse. Guests Nick Brana and Jerry Perez discuss what’s happening now with the growing movement to form an independent political party. Brana’s ‘Peoples Party’ with 70,000 members throughout the US and Perez’s LA Our Revolution group and other interested OR groups current considering and discussing going independent. What’s happening at the grass roots with regard to independent party formation. (For more information, go to http://peoplesparty.org and to http://ourrevolutionLA.com )

    • 59 min
    Alternative Visions - Jobs Collapse & Underestimation by Government Statistics

    Alternative Visions - Jobs Collapse & Underestimation by Government Statistics

    Today’s show addresses and debunks the current jobs statistics just released today by the US Labor Dept. The official announced 14.7% unemployment rate and 23m jobs lost (20m in April) are dissected to reveal the true scope of those without work. Why the 14.7% only represents full time workers’ job loss and excludes millions more part time, temp, contract, gig jobs now 60m out of a 164m labor force. Rasmus explains even Govt stats show 22.4% unemployment rate when part time, ‘missing labor force and other categories are included. Rasmus further explains why the 22.4% is under-reporting as well, when the 8m who have dropped out of the labor force are included. How we get 33.5m having filed for unemployment benefits but report only 23m jobless. Why govt stats exclude many sheltering at home, without jobs, as not unemployed. Why the economy’s ordered ‘reopening’ will lower the official 14.7% unemployed, but only temporarily and why jobless numbers will rise again as a second infection wave hits the economy, and economic conditions developing, converge by year end. Rasmus explains it will take 5-7 yrs to just recover lost jobs, under best of conditions. Why the economic recovery will be ‘W Shape’, not V-Shape, and follow Rasmus’ past predictions of the trajectory of an ‘Epic’ Recession. (check out the blog, jackrasmus.com, this weekend for Dr. Rasmus’s explanation of a ‘W-Shape’ recovery, and his previous rejection of ‘V-Shape’.)

    • 59 min
    Alternative Visions - The Fed’s Historic Gamble: Pre-Bailing Out the Capitalist System

    Alternative Visions - The Fed’s Historic Gamble: Pre-Bailing Out the Capitalist System

    the US central bank, the Federal Reserve (Fed), is in the process of throwing trillions of dollars at the economy, most to businesses and corporations, in an historic effort to bail out the banks and now non-bank businesses as well (for the first time). The objective is to head off and prevent the deep and rapid contraction of the US economy from spawning a wave of defaults and bankruptcies among non-bank businesses that will soon fail to ‘service’ their massive accumulated debt loads run up since 2010. Broad sectors of US business heavily laden with corporate debt—corporate junk bonds, junk loans, and related debt amounting to several trillions $ in the US alone—are on the verge of failing to make principal & interest payments on that massive debt. The Fed is feeding them free money to continue to do so. As well as pumping up bank balance sheets to provide a cushion for the defaults and bankruptcies and avoid a banking-financial system crash in the event of defaults when they come. Rasmus explains how the capitalist drive to return workers to their jobs now gaining momentum is also about business revenue restoration to avoid defaults. Industries most prone to defaults: travel,  oil and energy, retail, entertainment will be the leading edge. Rasmus explains the magnitude and composition of the Fed’s $9T commitment to ‘pre-bail out’ the banks and business, and how the US working class will be required to pay the bill—a present on this May Day to workers.

    • 58 min
    Alternative Visions - $484B More US Bailout: Still Not Enough! What’s Coming Next?

    Alternative Visions - $484B More US Bailout: Still Not Enough! What’s Coming Next?

     Dr. Rasmus begins today’s show describing the latest Congressional bailout package of $484B just passed, expanding the prior $2.3T ‘Cares Act’ bailout just a few weeks ago. How much is direct money and how much is loans funneled through the Fed and private banks. Why It won’t be enough and what’s in the next bailout package already being debated for May. Jobless numbers now at 26m, going to 40m by end of May. The ways in which big corporations are gaming the bailouts and getting free money they don’t need, while workers, homeowners, renters, and small businesses are starving for funds due to Trump administration mismanagement. Why business interests & Trump are so desperate to force everyone back to work prematurely, almost ensuring a second and potentially worse wave of infections. Rasmus explains the bailout in general is designed to go through the Fed and the private banks, as it was in 2008-09, and why this will mean a very slow recovery under the best of assumptions. Why the Fed’s multi-trillion dollar money injections may yet fail to prevent a financial crisis and an even worse economic crisis. (check out Dr. Rasmus’s blog, jackrasmus.com, for weekly up to date posts on the virus economy and join his twitter feed, @drjackrasmus, for daily commentaries)

    • 56 min
    Alternative Visions - Sanders’ Movement: Where’s It Going?

    Alternative Visions - Sanders’ Movement: Where’s It Going?

    Dr. Jack Rasmus interviews Paco Fabian, Campaigns and Communications Director for the ‘Our Revolution’ (OR) organization that has been central to mobilizing progressives and grass roots youth in the primaries for Bernie Sanders. Now that Sanders’ has dropped out of the race for the Democrat party nomination, what next for OR and the progressives movement?  Where do progressives who supported Sanders go from here? Rasmus and Fabian discuss the significance of Sanders’ campaign—including his recent abrupt retreat and endorsement of Biden. What’s OR’s own strategy and goals as an organization, before & after the Democrat party convention? What will OR do after the November elections, should Biden lose? How will it work to stop Trump if he’s re-elected? How will it confront Biden and the Democrat party moneybags if Biden wins and he introduces another ‘pro-business go slow, minimalist’ Obama approach to economic recovery?

    • 58 min

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