By all economic indicators we are in for a catastrophic economic collapse unlike anything most of us have seen in our lifetimes – more akin to the Great Depression than the 2008 recession.
That is unless we take drastic measures quickly. 1/9
That is unless we take drastic measures quickly. 1/9
After 50 years of stagnant wages through ever-increasing cost-of-living resulting in ever-dwindling savings & high crushing personal debt, most are already on the edge of vulnerability.
Inequality today is back to Pre-Great Depression levels. 2/9
Inequality today is back to Pre-Great Depression levels. 2/9
Most Americans have less than $1,000 in savings, with about 40% unable to afford an unexpected $400 expense. Most are just one paycheck away from financial ruin. Millions are homeless or food insecure.
And all of that is *before* this impending collapse. 3/9
And all of that is *before* this impending collapse. 3/9
A 50-year one-sided class-war against workers, rampant inequality, shredded social safety nets, an utterly reckless Fed pumping up the financial markets with zero regard to the REAL economy.
All the while, trillions in handouts & tax-cuts for the 1%. 4/9
All the while, trillions in handouts & tax-cuts for the 1%. 4/9
With so many, so vulnerable, beyond the millions who are already unemployed or underemployed due to the Coronavirus, a 20% estimated economic contraction means millions more will likely be unemployed/underemployed in the coming months. 5/9
Now is not the time for thinking small. Thinking small means Great Depression 2.
The most effective preemptive recovery will be bottom-up, starting with the most vulnerable, Main St. bail-out to the tune of 20% of GDP: about 4.5 trillion by the end of the year. 6/9
The most effective preemptive recovery will be bottom-up, starting with the most vulnerable, Main St. bail-out to the tune of 20% of GDP: about 4.5 trillion by the end of the year. 6/9
Sander’s proposed $2,000 direct monthly payments to every adult is a solid start that deserves wide support. 7/9
Here are some additional steps in the right direction: 8/9
The political establishment has proven to be grossly incompetent & unprepared in their handling of COVID-19.
To prevent *additional* suffering from the impending economic fallout, we need to act quickly & aggressively for a Main St. bail-out now! 9/9
To prevent *additional* suffering from the impending economic fallout, we need to act quickly & aggressively for a Main St. bail-out now! 9/9
