Richard D. Wolff: Viruses like Covid-19 are a part of nature we must accept. But Capitalism-2020 must be destroyed

…from Russia Today, Mosocw

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  1. They are both responsible in their respective domains. For business it has been the wonder of “just in time” supply chains where money tied up in inventory was minimized and so earnings could be maximized that drove stock prices up and created “wealth”. But the problem with just in time inventories, well, we have had a mega display of that when the order to ramp up testing kits ran into the “reagent” shortage as all those producers were configured to handle a predictable supply, and not to be able to ramp production quickly as they depended on their own suppliers, which is more of a problem during a lock down and sick people.

  2. Jim you are missing out on the whole picture of overpriced education. I can attest that even those who graduated with Masters and above are getting the full shaft. Most coming out of the those programs and getting work with pretentious firms are working for ‘peanuts’ and paying off those loans is mathematically ridiculous. Their only option is to take a 20 year plan towards forgiveness. They pay proportionately to their salary for 20 years and the balance is forgiven. And that is saying they do not succumb to the peddlers of lower interest unforgivable loans that they are constantly lured to take.

    • I have not seen a shred of interest in any “consumer protection” in this area. By that I mean that anyone planning to go to college via a big loan campaign has to be supplied the statistics of the current student load debt loads and the earnings capability of those with a degree, and those without, which is the boat many of them are in. And they have to sign a release that they were fully aware of the risks and did not want taxpayers to subsidize their loans. I would do the same for any family steering a daughter into the military, to have to see the stats on sexual abuse, the total failure to put a dent in it, and then sign that they are OK with the risk.

  3. The US has still not learnt…all the bail out is to prop up zombie corporations and the parasitic banks. The US complains about China being the global manufacturing hub but the US hold on the world’s financial system is worse.

  4. I think we were about due for a reset. Just look at the cost of: healthcare, education, housing, sporting events, theme parks, theater tickets, hotel rooms, air travel , etc. And now these greedy industries want to be bailed out.

  5. Perhaps all the tRump supporters have to die Jack? However, before demographics kicks in I fear the damage will be astronomical.

    And to them are we not supposed to fight all wars for Isnotreal down to the last American anyway?

  6. Quote 1 – “Of course, the top priority now is to put public health and safety first.”
    Quote 2 – “What matters to public health is each society’s preparedness: stockpiled tests, masks, ventilators, hospital beds, trained personnel, etc. to manage dangerous viruses. In the US, such objects are produced by private capitalist enterprises whose goal is profit. It was not profitable to produce and stockpile such products, that was not and still is not being done.”
    In think there is pretty much a 100% consensus among those who would know that this is biological weapon. It must be assumed that those that have this weapon have more of the same, if not something more lethal. If quote 2 is true, and we know it is, then the top priority of quote 1 is not being met. I’m just wondering how many Americans will have to die before they get the message…

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