nomi prins 2020

In The War of the Worlds, H.G. As Covid-19 grew ever worse while 2020 ended, the stock market reached heights that hadn’t been seen before. As a result, the Fed incentivized those with extra money to grow it through quicker, often riskier investments in the stock market or real estate. Helicopters]" Guide. Vous pouvez consulter les listes des candidats aux élections municipales de votre commune ici Il y a 902 494 candidats (44,70% de femmes et 55,3% d'hommes). A regular antidote to the mainstream media. His depiction of the grim relationship between the Martians and the humans they were suppressing (meant to remind readers of the relationship between British imperialists and those they suppressed in distant lands) cast an eerie light on the power and wealth gap in Great Britain and around the world at the turn of the twentieth century. Global Power. Helicopters]". The market doesn’t care about politics. It’s a creature that acts in accordance with the goals of its largest participants. Wall Street Wins — Again Bailouts in the Time of Coronavirus. Multiethnic great powers like Russia and… Read more, It’s 2051, and Arcadia is under attack. Later accounts suggest that the media blew that reaction out of proportion (“fake news,” 1938-style? April 6, 2021, Lowell Lecture: Seema Yasmin Inside the Outbreaks Yasmin is an Emmy Award-winning medical journalist, public health physician, professor, and author. Whatever the case, fear has been both a great motivator and an anxiety provoker when it comes to the media, whether in 1938 or today. By 2018, about 75% of the $113 trillion in aggregate U.S. household assets were financial ones; that is, tied up in stocks, ETF’s, 401Ks, IRAs, mutual funds, and similar investments. The more that corporations keep relative to their bottom line when compared with ordinary citizens, the more the stock market rises relative to the real economy. That’s because the health and economic devastation it inflicted affected low-wage service workers, low-income earners, and people of color so much more than the upper-middle class and elite upper class. That’s mostly because since that crisis, fewer households had participated in the stock market or owned real estate and so had no chance to capitalize on increases in the values of either. Now imagine this: that amount alone dwarfed the total of all corporate taxes flowing into the U.S. Treasury in 2019. Its ultra-loose policies made it cheaper to borrow money, but not as attractive to invest it in low-interest-rate, less risky securities like Treasury bonds. The Fed can focus on its inflation-versus-full-employment dual-mandate all it wants, while pushing policies that distort the value of the real economy compared to financial assets. Meanwhile, again in the thoroughly cheery news column, banks in 2021 will be able to resume their march toward billions of dollars in share buybacks, courtesy of the Federal Reserve opting to support such a bank-and-stock-market stimulus. Even bipartisan congressional stimulus measures meant for necessary relief turned into a chance to elevate fortunes at the highest echelons of society. By the late nineteenth century, America’s “robber barons” were insanely wealthy. Nomi Prins, An Invasion From Mars Posted on January 10, 2021 January 10, 2021 The casualty figures sound like they’re from some particularly brutal war, possibly the American Civil War , or as some doctors have been saying, “ World War III “: more than 360,000 dead Americans, with predictions of more than 500,000 of us by the end of February. The planet's 2,200 or so billionaires got wealthier by $1.9 trillion in 2020 alone and were worth about $11.4 trillion in mid-December 2020 (up from $9.5 trillion a year earlier). In other words, the real problem when it comes to inequality isn’t the total amount of taxes received versus money spent in a time of crisis, but the composition of federal revenue that’s wildly out of whack (something the pandemic has only made worse). It’s all such a joke. Other mega-banks followed suit, as did their share prices. These distorted markets are the result of wealth inequality that once would have been unimaginable in this country. It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure.Here's our Cookie Policy. March 25, 2021: Nomi Prins Central Bank Collusion & the Financial Crisis: A Decade Later Prins is a distinguished political-financial expert, journalist, and award-winning author. Sometimes things only make sense when seen through a magnifying lens. The Dow Jones Industrial Average, aided by an ultra-loose monetary policy, steadily rose from a financial-crisis low of 6,926 on March 5, 2009 to 27,090 by March 4, 2020, which was when Covid-19 briefly trashed its rally. The contracts to defense-related private companies in the last year for which data was available, fiscal year 2018, totaled roughly 62% of a full defense budget of $579 billion, or $358 billion. While markets leapt to record highs, poverty in the United States also rose last year from 9.3% in June to 11.7% in November 2020. Now, for reasons you’ll soon understand, take a little trip back in history with me to the eve of Halloween, 1938, when Orson Welles and the Mercury Theatre dramatized his adaptation of H.G. Wells’ 1898 sci-fi-meets-dystopia-meets-imperialism novel, The War of the Worlds, on the radio. The planet’s 2,200 or so billionaires got wealthier by $1.9 trillion in 2020 alone and were worth about $11.4 trillion in mid-December 2020 (up from $9.5 trillion a year earlier). Elections Municipales 2020 Candidats aux élections municipales 2020. Covid-19 is not, of course, from Mars or sent by aliens, but in terms of its impact, it’s as if it were. In June 2020, the Fed had banned the practice ostensibly to help them better navigate risks caused by the pandemic. In some papers, after all, reports on the reaction to Welles’s performance were set right next to news of war clouds brewing in Europe and Asia. Rally 2.0 took the Dow to a new record of 30,606.48 as 2020 closed. Nomi Prins, a former Wall Street executive, is a TomDispatch regular. As Martians “invaded” New Jersey (it had been London in the novel) with mayhem in mind, panic evidently ensued among some radio listeners who thought they were hearing perfectly real reports about an alien invasion of Planet Earth. Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The By 2020, there were bidding wars for suburban houses by urbanites seeking refuge from coronavirus-stricken cities with all-cash offers, something beyond the reach of most traditional buyers. From the Financial Crisis to the Pandemic. And the pandemic is, in the end, only exacerbating, sometimes in radical ways, problems that already were bad enough, particularly economic inequality. A crisis of inequality had been sparked by the Industrial Revolution itself, which started in England and then crossed the Atlantic. Arcadia’s defense corps is mobilized to defend against what first appears to be a routine assault, one of the many that the community must repulse from para- military forces… Read more, A Nation Unmade by War surveys American exceptionalism in the age of absurdity. The U.S. government doled out $738 billion to the Pentagon for fiscal year 2020. The U.S. deficit increased by $3.3 trillion during 2020. However, within a month of the market dip that followed widespread shutdowns, its climb was refortified by similar but larger maneuvers, as Federal Reserve policy was once again deployed to save the rich under the auspices of saving the economy. That gap, in fact, might as well be like the distance between Earth and Mars. The Fed’s green light for this activity on December 18th will allow mega-banks to return to those share buybacks (which constitute 70% of the capital payout that they provide shareholders). Though Congress passed two much-needed Covid-related stimulus packages that extended unemployment benefits, while offering two one-off payments and a Paycheck Protection Program support for smaller businesses, the impact of those acts paled in comparison to the tax breaks and power of investment the stock market provided the well-off and corporate kingpins. On the other side of reality, I’m sure you won’t be surprised to learn that, according to recent Federal Reserve reports, the U.S. wealth gap continued to widen dramatically as economic inequality increased yet again in 2020 thanks to the coronavirus pandemic. The more that individuals, rather than corporations, shoulder the burden of tax revenues, the greater the inherent inequality in society. At the same time, the Federal Reserve cut interest rates to zero, while purchasing U.S. Treasury and mortgage bonds from the very banks that had sparked the disaster. After all, we’re in a pandemic age in which the gaps between the rich, the poor, and the middle class are being reinforced in endlessly stunning ways, a world in which some people have the means to remain remarkably safe, secure, and alive, while others have no means at all. He has written 12 books, including the New York Times best-seller “Days of Destruction, Days of Revolt” (2012), which he co … The planet’s 2,200 or so billionaires got wealthier by $1.9 trillion in 2020 alone and were worth about $11.4 trillion in mid-December 2020 (up from $9.5 trillion a year earlier). By Nomi Prins On April 5, 2020 On April 5, 2020. If you want to grasp inequality in the pandemic moment, consider this: while the market soared, more than 25.5 million Americans were the recipients of federal unemployment benefits. What that means is that in an ever more unequal America, 93.6% of the money flowing into the government’s till comes from individuals, not corporations. Steven Mnuchin, Foreclosure King of America, The White House as Donald Trump’s New Casino, Dear President Trump: Breaking Up (Banks) Isn’t So Hard to Do, The World Welcomes Biden But Hedges Its Bets, Take Me Out to the Capitol…Whoops, I Mean the Ballpark, In the Shadows of the American Century: The Rise and Decline of U.S. She is also the author of All the Presidents’ Bankers: The Hidden Alliances That Drive American Power and five other books. Those very financial institutions can now pour money into purchasing their own stocks again rather than, say, into loans to struggling small businesses endangered by pandemic-instigated economic disaster. That added nearly eight million Americans to the ranks of the poor, even as America’s 659 billionaires held double the wealth of the 165 million poorest Americans. multi-trillion-dollar Wall Street bailout, "How To [Read/Tip Off] Zero Hedge Without Attracting The by Kevin Zeese and Margaret Flowers / Popular Resistance on Mar 14, 2020 Manning is facing more than $256,000 in fines, which have been accumulating at a … The majority of nonfinancial assets in that mix was in real estate. The gap between incoming and outgoing federal funds rose, too. The real economy, on the other hand, requires far more effort — planning, prioritizing, and executing programs and projects that can produce tangible profits. In the midst of a pandemic, as billionaires only grow richer and the markets soar, can there be any question that we’re experiencing a Martian invasion? Wells evokes a species — humanity — rendered helpless in the face of a force greater than itself and beyond its control. Imperial President or Emperor With No Clothes? As it happens, I’m thinking about reality, the very American and global reality clearly repeating itself as 2021 begins. Twenty-first-century tycoons like Elon Musk and Jeff Bezos raked it in specifically because of all the money pouring into shares of their stock. Simply put, the less you had, the less you could afford to lose any of it. Black Lives Matter; B. The book was written in the Gilded Age, when rapid economic growth, particularly in the United States, bred a new class of “robber barons.” Like the twenty-first-century version of such beings, they, too, made money from their money, while the economic status of workers slipped ever lower. Lena, Zack, Dory, and Stu must reconcile their troubled past with an uncertain future in Beverly Gologorsky’s stunning new novel, a… Read more, Collusion: How Central Bankers Rigged the World, All the Presidents’ Bankers: The Hidden Alliances That Drive American Power. Total federal revenue was $3.45 trillion, while the corporate tax part of that was just $221 billion, or a paltry 6.4%. Her latest book is Collusion: How Central Bankers Rigged the World (Bold Type Books). With or without Welles, people were on edge. By Nomi Prins On May 28, 2020 On July 7, 2020. In a way, economically speaking, you might say that today we’re suffering the equivalent of an invasion from Mars. Twenty-first-century tycoons like Elon Musk and Jeff Bezos raked it in specifically because of all the money pouring into shares of their stock. But the reality is that the more those Fed-inflated assets grow relative to real ones, the greater the inequality gap. As the stand-alone sequel to Splinterlands begins, the sustainable compound in what was once Vermont is on high alert. And yet, American billionaires scored monumentally during the pandemic, due particularly to their lofty position in the stock market. White people/white privilege is behind all of the black violence. We’re a long way from a world that puts investment in the real economy ahead of those soaring financial markets. Those at the top ferociously accumulated wealth, while the majority of the rest of the population barely got by or drowned. In essentially another universe, the number of people who lost their jobs due to the pandemic and didn’t regain them was about 10 million. Chris Hedges writes a weekly opinion column for Truthdig. Submitted by Nomi Prins via Tom's Dispatch. As Tom Engelhardt argues, despite having a more massive, technologically advanced, and better-funded military than any other power on the planet, in the last decade and a half of constant war across the Greater Middle East and parts of Africa, the United… Read more, In a completely original analysis, prize-winning historian Alfred W. McCoy explores America’s rise as a world power—from the 1890s through the Cold War—and its bid to extend its hegemony deep into the twenty-first century through a fusion of cyberwar, space warfare, trade pacts, and military alliances. On the other hand, the U.S. economy never quite reached a growth level of, on average, more than 2% annually in the years after that near collapse, even as the stock market regained all its losses and so much more. By Tim Bohen Posted July 27, 2020 Tim Bohen Analyst, The Penny Stock Letter Dear Penny Stock Letter Reader, Welcome back to the Market Minutes… We’ve … By the end of December 2020, its balance sheet had increased by $3.164 trillion, reaching a total of $7.35 trillion, 63% more than its book at the height of the decade following the 2008 disaster. Part Field Notes from a Catastrophe, part 1984, part World War Z, John Feffer’s striking new dystopian novel, takes us deep into the battered, shattered world of 2050. And that figure doesn’t even count people who can’t go to work because they have to take care of others, their workplace is restricted, or they’re home-schooling their kids. There had already been surprises galore. The world, after all, had barely recovered from the aftermath of the 1929 stock market crash and the Great Depression that followed. Much of the appreciation in stock market and real-estate values has been directly or indirectly related to the Fed’s actions. The top 1% also controlled more than 88 times the wealth of the bottom 50% of Americans. The European Union has broken apart. The 2020 BDO World Professional Darts Championship was the 43rd and final World Championship organised by the British Darts Organisation, and the only staging at the Indigo at The O2 in London.It was the first BDO World Darts Championship not held at the Lakeside Country Club since 1985. The S&P 500 stock market index added a total of $14 trillion in market value in 2020. The more that financial assets appreciate on money seeking to multiply itself in the quickest way possible (think of it as like a virus), the greater the distortion created. In 1810, the top 1% of Americans held 25% of the country’s total wealth; between 1870 and 1910 that share leapt to 45%. The Laura Flanders Show is committed to making our programming, website and social media as accessible as possible to everyone, including those with visual, hearing, cognitive and motor impairments. By Nomi Prins Posted December 20, 2019 Best-Selling author, Nomi Prins takes a deep dive into the Federal Reserve’s impact on Wall Street banks and … As soon as Wall Street got the good news from the Fed as 2020 ended, JPMorgan Chase, the nation’s biggest bank, wasted no time in announcing its intent to buy a staggering $30 billion of its own shares in the new year. This News section gives analysis of all the markets including stocks, bonds, gold, silver, housing, interest rates, inflation and overall health of the general economy. Fluctuation definition, continual change from one point or condition to another. The Fed, the Virus, and Inequality A Global Dr. Frankenstein at Work. And though many larger and mid-size corporations filed for bankruptcy protection due to coronavirus related shutdowns, the brunt of absolute closures hit smaller local businesses — from restaurants to hair salons to health-and-wellness shops — much harder, only exacerbating economic disparity at the community level. Nationwide in 2020, black people are engaging in near-record numbers of fatal/nonfatal shootings of primarily other [black] people. It was also still reeling from the fiery Hindenburg disaster of 1937 in which a German airship blew up in New Jersey, as well as from the escalation of tensions and hostilities in both Asia and Europe that would lead to World War II. Inequality is about the disparity between people and countries with respect to income, wealth, or power. It’s not hard these days to imagine the chaos people would feel if their lives or livelihoods were threatened by an external, uncontrollable force like those Martians. McCoy then analyzes the marquee instruments of US hegemony—covert… Read more, As the Great Recession and the foreclosure crisis hit, four close friends who barely made it out of poverty in New York City’s South Bronx, suddenly find themselves caught up in the economic maelstrom. Indeed, the combined net worth of the top 1% of Americans was $34.2 trillion (about one-third of all U.S. household wealth), while the total for the bottom half was $2.1 trillion (or 1.9% of that wealth). By Nomi Prins On March 12, 2020 On March 12, 2020. See more. And it’s not hard to understand why they might have done so at that moment. but we are told (mandated) to believe: A. She is currently working on her new book, Permanent Distortion (Public Affairs). ), yet people who tuned in late and missed the set-up about the fictitious nature of the program did indeed panic. Take the defense sector, for example. Perhaps people already equated or conflated the Martian invasion on the radio with fantasies about a potential German invasion of this country. We all know, of course, that we’re living through a once-in-a-century-style pandemic; that millions of people have lost their jobs, a portion of which will never return; that the poorest among us, who can withstand such acute economic hardship the least, have been slammed the hardest; and that the global economy has been kneecapped, thanks to a battery of lockdowns, shutdowns, restrictions of various sorts, and health-related concerns. Today, the top 1% of Americans possess more wealth than the whole of the middle class, a phenomenon first true in 2010 and still the reality of our moment. That’s plain math and it’s the ugly essence of the United States of America as 2021 begins. By Tim Bohen Posted February 11, 2020 Analyst Tim Bohen, has sent your weekly watchlist for the week of February 11th Here’s Your August 6th Weekly Watchlist Interest Of [Human Resources/The Treasury/Black And as if by magic, those shares leapt 5% that very day. FIFY. Julian West, looking backwards from 2050, tries to understand why the world and his family have fallen apart. And yet, as if in some galaxy far, far away, there also turns out to be another, so much more upbeat side to this equation. At the moment, the focus is on economic and health-related fears in all-too-ample supply. It was an early version of a zero-sum game in which the spoils of the system were increasingly beyond the reach of so many. Interest Of [Human Resources/The Treasury/Black Its own assets then rose from $870 billion to $4.5 trillion between August 2007 and August 2015. By Nomi Prins Posted December 20, 2019 Best-Selling author, Nomi Prins takes a deep dive into the Federal Reserve’s impact on Wall Street banks and … Meanwhile, as 2020 ended, the richest 10% of Americans owned more than 88% of the outstanding shares of companies and mutual funds in the U.S. The size of the public debt issued by the Treasury Department reached $27.5 trillion. Even before the pandemic, only the richest 20% of American households had recovered fully (or, in the case of the truly wealthy, more than fully) from the financial crisis. More sobering than all of this: more than 360,000 Americans (and counting) have already lost their lives as a result of Covid-19 with, according to public health experts, far more to come. Ever. Remember that, long before Covid-19 hit, the financial crisis of 2008 was met by a multi-trillion-dollar Wall Street bailout. As economist Thomas Piketty wrote, there was a steeper increase in wealth inequality during the Gilded Age than ever before in American history. It is also on the disconnect that exists between the real economic world that most of us live in and turbo-boosted stock markets. Special thanks to Craig Wilson for his superb research on this piece.

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