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Alternative Visions

Updated 2 months ago

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

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

iTunes Ratings

17 Ratings
Average Ratings
16
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0

Essential to understanding economics and the economy

By Dski Works - Feb 22 2020
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Very educational about how all the pieces fit together. Great historical context sets it all up. Thank you Dr. Jack Rasmus!!

Great listening.

By Life long learner 2002 - Oct 17 2016
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I love your updates about economy and politics and everything in between. Awesome work.

iTunes Ratings

17 Ratings
Average Ratings
16
1
0
0
0

Essential to understanding economics and the economy

By Dski Works - Feb 22 2020
Read more
Very educational about how all the pieces fit together. Great historical context sets it all up. Thank you Dr. Jack Rasmus!!

Great listening.

By Life long learner 2002 - Oct 17 2016
Read more
I love your updates about economy and politics and everything in between. Awesome work.
Cover image of Alternative Visions

Alternative Visions

Latest release on Aug 07, 2020

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

Rank #1: Alternative Visions -Shape Recovery Will Not Happen

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Dr. Rasmus explains why a V-shape recovery from the current crisis will not happen, despite all the marketing spin by Trump, politicians and myopic economists. The show today addresses first the employment numbers reported by the Labor Dept. Rasmus explains those numbers don’t include the last two weeks of March and the 10m workers filing for unemployment benefits. The official unemployment rate of 4.4% reported is thus a gross understatement (and also useless since it always states job losses for only full time employed). Why aren’t those still working being rewarded for hazard work is the next theme of the show, based on Dr. Rasmus’ recently published ‘Covid-19 and the Forgotten Working Class’. The last half hour addresses the theme why a V shape recovery is not going to happen. Rasmus explains why uncertainty and negative expectations by business and households alike will mean more cash hoarding, savings instead of consumption, debt paydown, slow recovery of bank lending, decline in business and household demand for credit, global trade collapse, and business cost cutting carried forward—all mean a slow and tenuous recovery of business investment and consumer spending. Two additional ‘wildcards’ that could depress recovery still further as well might be politicians returning to austerity in 2021 to offset the massive deficits ($6.7T) and $30T (from $22T) national debt + the Fed’s possible failure to prevent a financial crash in coming months. (Check out Dr. Rasmus’ blog posts on the economy today at jackrasmus.com).

Apr 03 2020

59mins

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Rank #2: Alternative Visions - $484B More US Bailout: Still Not Enough! What’s Coming Next?

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 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)

Apr 24 2020

56mins

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Rank #3: Alternative Visions - Explaining the US Economic Bailout

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 In today’s show Dr. Rasmus unravels and explains the array of bailout measures being passed by Congress (3 Acts + 1 in the works) and the Federal Reserve Bank’s multiple programs to inject trillions of dollars into financial markets and non-financial businesses alike. How are the two bailouts—Congress and the Fed’s—integrated? How much of the trillions of loans, grants, tax cuts, subsidies, unemployment benefits, cash checks to households, etc. are actually getting into the economy and how much in bottlenecks. Is the magnitude of the bailout sufficient to prevent a great recession like 2008-09? What about the ‘composition’ (% spending, tax cuts, loans, grants, etc.)? Is it the right ‘mix’ to have an effect?  Will the Fed’s trillions of liquidity injection be enough to prevent business, local government and household defaults that can lead to a financial crash? Why are many economists, following Trump’s lead, saying the economy will recover rapidly in the second half of this year despite the record collapse of the economy in this quarter? How does 2020 compare so far with 2008-09? With 1929-33?

Apr 10 2020

54mins

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Rank #4: Alternative Visions - Sanders’ Movement: Where’s It Going?

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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?

Apr 17 2020

58mins

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Alternative Visions - Slowing Jobs Recovery; Fading 3Q Rebound?

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In today’s show, Dr. Rasmus comments on the growing economic cold war between US and China, on the status of the Economic Stimulus negotiations in Congress, and the latest US jobs and wage numbers released today by the US Labor Dept.  On the China-US economic war, the latest developments involving Microsoft and the forced purchase of China’s ‘TIk Tok’ by Trump. What’s behind it? The latest status on terms of the negotiations in Congress involving unemployment, income checks, rent, local government aid, payroll and other tax measures. What the latest US job numbers for July indicate. (For more on the stalling US economic rebound see Dr. Rasmus’ blog, jackrasmus.com, for latest articles or his twitter posts on daily developments at @drjackrasmus).

Aug 07 2020

59mins

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2nd Quarter US GDP Collapses & June Rebound Fading

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Dr. Rasmus dissects the just released data for US economy’s 2nd quarter GDP stats, confirming his March prediction of W-shape recovery, no V-shape and no 2nd half recovery. The 4 myths are discussed: Fast recovery in 2020; US economy strong in 2019; consumer households were doing great in 2019 and will do again in 3Q20; Congress’s March 2020 Cares Act is enough stimulus. No need to rush to another massive stimulus bill. Review of McConnell Republicans’ HEALsAct vs. Democrats Heroes Act. Two great ‘wild cards’ that could throw the US economy into depression in 2021: Trump generated political-constitutional crisis around Nov. elections + financial instability in 2021 as business and household defaults deepen.

Jul 31 2020

58mins

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Alternative Visions - 2nd Quarter US GDP Collapses & June Rebound Fading

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Dr. Rasmus dissects the just released data for US economy’s 2nd quarter GDP stats, confirming his March prediction of W-shape recovery, no V-shape and no 2nd half recovery. The 4 myths are discussed: Fast recovery in 2020; US economy strong in 2019; consumer households were doing great in 2019 and will do again in 3Q20; Congress’s March 2020 Cares Act is enough stimulus. No need to rush to another massive stimulus bill. Review of McConnell Republicans’ HEALsAct vs. Democrats Heroes Act. Two great ‘wild cards’ that could throw the US economy into depression in 2021: Trump generated political-constitutional crisis around Nov. elections + financial instability in 2021 as business and household defaults deepen.

Jul 31 2020

58mins

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Alternative Visions - US Economy: Relapsing from Rebound

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Dr. Rasmus discusses the latest data showing a rise once again in unemployment and benefit claims. Why it’s a harbinger of a relapse and W-shape recovery now emerging more clearly. The dual causes behind the rising job losses: covid resurgence and permanent layoffs by big corporations. A detailed review of what’s known of the status of current negotiations in Congress over the Heroes Act follows. The major elements of the Republican-McConnell proposals are reviewed. (Check out more details in Dr. Rasmus’s recently published article, ‘What Lies Ahead’, available on his blog at jackrasmus.com). Next Week: more detail on the Heroes Act negotiations.

Jul 27 2020

59mins

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Alternative Visions - : What Lies Ahead

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Dr. Rasmus discusses his latest blog piece, ‘What Lies Ahead’ (see jackrasmus.com). The 8 factors that intermediate to long term may mean the current Great Recession experiences a major economic relapse, and W Shape trajectory in the next 6 to 18 months. More permanent 2nd jobless wave, weak Heroes Act fiscal stimulus next week, wave of unemployment benefits loss and rent evictions, child care and education system crisis, state & local government defaults, (and muni market crash), permanent transformation of industries, return to austerity in 2021 by politicians, business and government defaults, bankruptcies and financial instability, and US political instability are candidates for pushing the US (and global) economy. Also discussed are this past week’s Banks putting away tens of billions more of emergency cash as hedge against defaults coming. Today’s show and article are a sequel to last week’s short term look (3 mos) why the current June economic rebound will falter. See both articles on jackrasmus.com.

Jul 17 2020

58mins

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Alternative Visions - Rebound, Relapse vs. Recovery

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Dr. Rasmus explains 8 reasons why the US economic ‘rebound’ will not be a recovery. Why jobs are not recovering at rate announced by government, while mass layoffs of permanent jobs are beginning to occur amidst recalls due to economic reopening. Other reasons for W shape rebound and relapse and not robust recovery is that the 2nd surge in Covid will depress economic activity again, the lack of a sufficient fiscal stimulus in Congress as the first CARES ACT dissipates, growing business and consumer negative expectations, global trade collapse with 90% of world economies in recession, business cost cutting, wage cutting and layoffs of the recent shutdown becoming permanent, intensifying US political instability in coming months, prospects growing of rising business defaults, bankruptcies, and another financial crisis in 2021. (for further detail analysis see jackrasmus.com blog and latest posted article on why the rebound will not be a recovery).

Jul 13 2020

58mins

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Alternative Visions - 2nd Wave Virus, 2nd Wave Economic Contraction Coming?

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 Dr. Rasmus reviews the facts re. surging 2nd wave of virus infections and hospitalizations in the USA and discusses whether it will precipitate a further weakening of the US economy in the second half of 2020 as well. As World Bank chief economist, Carnmen Reinhart, has recently warned: it is important to distinguish between a ‘Rebound’ and a ‘Recovery’. Rasmus explains the reopening of the US economy the past 6 weeks has produced what looks like a ‘rebound’ for historic depths of contraction during the 1st wave of the virus, February-April, but that it is not a recovery. 39m still unemployed by moderate estimates, work hours down 15%, personal incomes up but being significantly unspent, the CARES Act stimulus either already spent by households or loans being hoarded by big corps. amount to no added real stimulus. Fed forecasts for US GDP for 2nd quarter at -30.5% to -41.9% mean a very deep hole for the US economy to try to crawl out of. Rasmus reviews the current late June state of the US economy: consumption, business investment, trade, and government spending that shows a slowing of the deep contraction but a continued contraction nonetheless. Conclusion: despite reopening the economy and a 5.5% GDP stimulus in March the US is not poised for an accelerating ‘recovery’ but a modest ‘rebound’ at best. And a 2nd wave increases probability of another economic relapse in late 2020 or early 2021 if no real fiscal stimulus comes soon.

Jun 28 2020

59mins

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Alternative Visions - Gaming the Economic Bailout & The Economic ‘Stimulus’ that Isn’t

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Dr. Rasmus reviews the various ways the Cares Act and $2.7T Congress bailout since March has been ‘gamed’ by big business and investors. How big corps have taken the funds and not invested, or refused to take up the loans altogether. The same applies to the Federal Reserve’s $3.3T in loans to banks and investors via its QE and 11 ‘facilities’ to provide free money capital to banks and others. A second theme of the show is Dr. Rasmus explanation that the nearly $5T in Congress and Fed stimulus is not really a stimulus. And the near future appears a further lack of stimulus, amidst a further subsidization of  businesses that aren’t really investing or growing the economy. Economic news of the past week is also reviewed re. retail sales, housing, manufacturing, etc.

Jun 19 2020

59mins

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Alternative Visions - 2nd Covid Wave & the US Economy

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Evidence grows that a 2nd covid-19 wave is now emerging in the US, focused in the south and southwest ‘red’ states. Pandemics always have 2nd waves (even 3rds). Second waves tend to be worse than first. Will this 2nd wave exceed the impact of the first on the coastal ‘blue’ states, now that widespread reopening of the US economy is underway, especially in the ‘red’ states? Dr. Rasmus discusses the transmission mechanisms and channels by which Covid-19 has been impacting the US economic contraction. Also, how causal forces independent of the virus have begun to take effect in the US economy now exacerbating the general economic crisis. How Covid-19 causes interact with independent economic dynamics to worsen the economic instability. Why the June ‘recovery’ is especially weak and tentative and why a further economic relapse is inevitable, sometime in the fall or right after the November US elections. What’s happening with the four major areas of the US economy: household consumption, business investment, exports, and government spending and why recent fiscal stimulus by Congress and monetary stimulus by the Federal Reserve are not working well. (check out Dr. Rasmus’s latest blog post, ‘The 2nd Wave & the US Recession’, at jackrasmus.com. Follow his daily updates on his twitter feed at @drjackrasmus).

Jun 12 2020

59mins

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Alternative Visions - Latest Jobs Numbers, the Economy, & the Protests

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Dr. Rasmus explains why the official U-3 unemployment figure of 13.3% is a gross misrepresentation of the unemployment rate. What’s wrong with the U-3. Plus the Labor Dept’s own admission that the 13.3% is distorted by the questions it has asked the jobless. Why the Labor Force participation Rate and Employment to Population ration show little improvement in the jobless situation. Why there is a brief phase of 2-3 months when the economy will not keep falling but level off and maybe recover 20% of the loss of the past few months, but why a W-Shape recovery longer term is on the agenda. Why most jobs won’t come back or return only slowly over the next 10 yrs.  Dr. Rasmus concludes with some commentary on his latest blog publication, ‘Confronting Institutional Racism’, and why (and how) the demonstrations and protests need to expand and grow organizationally, in terms of alliances, and in its demands—or it will go the way of the ‘Occupy’ movement of 2011 and ‘yellow vests’ in France in recent years. (Check out the article ‘Confronting Institutional Racism’ on Dr. Rasmus’s blog, jackrasmus.com or on Counterpunch, Znet, or Global Research public blogs today)

Jun 08 2020

58mins

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Alternative Visions - Heroes Act Negotiations + US Financial Imperialism & China

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Today’s show continues in more depth the discussion last week on the pending Heroes Act in Congress. Is it another mitigation bill, stimulus bill, or a growing subsidy for business bill. What are Republicans proposing to change the original House proposals in the bill? Senate Democrat responses in progress? What’s the true unemployment rate in the US today. Why has the $1.7T in corporate loans under the March ‘Cares Act’ not being taken up by big business? And why is only $95B of the Fed’s $1.7T liquidity provisions to banks being used so far? Is the bailout of households being converted to more subsidies for business? The show concludes with a discussion of how US financial imperialism works, and why Trump is now preparing to leverage it against China marking a new stage in the China-US economic war. Some commentary on Trump’s emerging 2020 election strategy: election fraud.

May 29 2020

1hr

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Alternative Visions - The Heroes Act: DOA?

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 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.

May 22 2020

58mins

Play

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

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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 )

May 18 2020

59mins

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Alternative Visions - Jobs Collapse & Underestimation by Government Statistics

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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’.)

May 11 2020

59mins

Play

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

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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.

May 01 2020

58mins

Play

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

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 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)

Apr 24 2020

56mins

Play

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

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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?

Apr 17 2020

58mins

Play

Alternative Visions - Explaining the US Economic Bailout

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 In today’s show Dr. Rasmus unravels and explains the array of bailout measures being passed by Congress (3 Acts + 1 in the works) and the Federal Reserve Bank’s multiple programs to inject trillions of dollars into financial markets and non-financial businesses alike. How are the two bailouts—Congress and the Fed’s—integrated? How much of the trillions of loans, grants, tax cuts, subsidies, unemployment benefits, cash checks to households, etc. are actually getting into the economy and how much in bottlenecks. Is the magnitude of the bailout sufficient to prevent a great recession like 2008-09? What about the ‘composition’ (% spending, tax cuts, loans, grants, etc.)? Is it the right ‘mix’ to have an effect?  Will the Fed’s trillions of liquidity injection be enough to prevent business, local government and household defaults that can lead to a financial crash? Why are many economists, following Trump’s lead, saying the economy will recover rapidly in the second half of this year despite the record collapse of the economy in this quarter? How does 2020 compare so far with 2008-09? With 1929-33?

Apr 10 2020

54mins

Play

Alternative Visions -Shape Recovery Will Not Happen

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Dr. Rasmus explains why a V-shape recovery from the current crisis will not happen, despite all the marketing spin by Trump, politicians and myopic economists. The show today addresses first the employment numbers reported by the Labor Dept. Rasmus explains those numbers don’t include the last two weeks of March and the 10m workers filing for unemployment benefits. The official unemployment rate of 4.4% reported is thus a gross understatement (and also useless since it always states job losses for only full time employed). Why aren’t those still working being rewarded for hazard work is the next theme of the show, based on Dr. Rasmus’ recently published ‘Covid-19 and the Forgotten Working Class’. The last half hour addresses the theme why a V shape recovery is not going to happen. Rasmus explains why uncertainty and negative expectations by business and households alike will mean more cash hoarding, savings instead of consumption, debt paydown, slow recovery of bank lending, decline in business and household demand for credit, global trade collapse, and business cost cutting carried forward—all mean a slow and tenuous recovery of business investment and consumer spending. Two additional ‘wildcards’ that could depress recovery still further as well might be politicians returning to austerity in 2021 to offset the massive deficits ($6.7T) and $30T (from $22T) national debt + the Fed’s possible failure to prevent a financial crash in coming months. (Check out Dr. Rasmus’ blog posts on the economy today at jackrasmus.com).

Apr 03 2020

59mins

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Alternative Visions - The Great Recession of 2020 (or worse) Has Arrived!

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 Dr. Rasmus explains the dimensions and magnitude of the current contraction underway, including unemployment spiking at a faster and higher rate than in 2008 or 1929. GDP forecast contractions in 2Q20 will be more severe than the worse month in 1932. Rasmus proposes an ‘economic war mobilization’ that requires US government spending to rise from 21% of GDP today to 40%, as in 1942. That means a $4T increase in government spending, from current $4.4 trillion to $8.5T. His phase 1 proposed spending program, published earlier this week on the blog, jackrasmus.com, is reviewed and explained measure by measure. Current proposals in Congress are compared and critiqued as grossly deficient. Why $4T more spending will be needed to protect working class and middle class families and the millions of small businesses. How large corporations abused the economy by giving themselves >$1T/yr in stock buybacks and dividend payouts for 10 years, and should not be given government handouts but reorganized and  restructured. A further Phase 2 program is described.

Mar 20 2020

1hr 1min

Play

iTunes Ratings

17 Ratings
Average Ratings
16
1
0
0
0

Essential to understanding economics and the economy

By Dski Works - Feb 22 2020
Read more
Very educational about how all the pieces fit together. Great historical context sets it all up. Thank you Dr. Jack Rasmus!!

Great listening.

By Life long learner 2002 - Oct 17 2016
Read more
I love your updates about economy and politics and everything in between. Awesome work.