Biden’s four years

Marksisti rišejo precej mračno sliko nad prihodnostjo ameriškega gospodarstva v Bidenovem mandatu. Poanta: rekordno nizke obrestne mere in neomejene količine likvidnosti s strani Fed nič ne pomagajo, če podjetja zaradi rekordno nizke dobičkonosnosti nočejo investirati (vsaj doma ne).

Michael Roberts Blog

It’s inauguration day.  There is a new president in the US, the most powerful capitalist economy and state in the world.  Joe Biden’s four-year term begins today, as Donald Trump slinks off to his Florida estate and golf course, after saying that his “movement is just beginning”.

What is the state of the United States as Biden takes over?  The COVID-19 pandemic has reaped huge damage on the lives and livelihoods of millions of Americans.  Its impact has been far worse than it might have been for several reasons.  First, the US government, just like the other governments, had done nothing to prepare for the COVID-19 pandemic.  As previous posts have explained, governments had been warned that pathogens dangerous to human life for which there was no immunity were becoming more prevalent, leading to a wave of epidemics before COVID-19.  But most governments did not spend on prevention (research…

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