Mon, 16 March 2020
Stock markets around the world have become very volatile over the past few weeks with record losses. We are in a global recession, which could become a depression in the United States. Panic over the coronavirus and falling oil prices triggered the crisis, but economists have predicted this for some time due to high levels of corporate debt and artificial propping up of Wall Street. It was just a question of when. We speak with economist Jack Rasmus, author of "The Scourge of Neoliberalism: US Economic Policy from Reagan to Trump," about the current state of the economy and what we can expect from here. Rasmus posits that twenty-first-century neoliberalism is doomed to be highly unstable with rapid crashes and long recovery times. The system is going to change, but the direction it takes depends on what people do to demand a system that puts people before profits. For more information, visit PopularResistance.org.