Truthout
Economy
Billionaires Are Social Distancing in Super Yachts as Tens of Millions Lose Jobs
Billionaires are able to retreat into opulence while many ordinary Americans face the threat of COVID-19 at work.
Trump Says Lost Jobs “Will All Be Back” Very Soon. Economists Disagree.
Unemployment jumped to 14.7 percent last month, and the economic crisis may not ease until 2023, some economists warn.
Pandemic Crash Shows Worker Co-ops Are More Resilient Than Traditional Business
Worker-owners are able to share the burden during a downturn and redirect their skills toward emerging needs.
Top Trump and GOP Donor Picked to Lead US Postal Service in Time of Crisis
The businessman is set to become the first postmaster general in two decades not to rise through the agency's ranks.
Mass Unemployment Amid the Pandemic Is an Indictment of Capitalism
Worker co-ops lack capitalism’s irrational fixation on profit, so they are not subject to boom-and-bust job cycles.
The Fed Just Changed Its Own Rules to Bail Out the Fossil Fuel Industry
The Federal Reserve can now give emergency loans to a sector that’s been buried in debt since long before the pandemic.
Demanding Tax Cut in Next Stimulus Package, Trump Holds COVID Relief Hostage
The payroll tax cut would undermine Social Security and Medicare funding and offer no relief for 30 million unemployed.
Trump-Tied Companies Receive Millions in Small Business Aid
The Justice Department is investigating the loans, as it has found issues with approved and rejected applications.
Over 70 Percent of Jobless Americans Didn’t Receive March Unemployment Benefits
The problem is worse in Southeastern states like Florida, where fewer than 8 percent of applicants received benefits.
COVID-19 Is Worsening a Housing Crisis That Started Long Before the Virus
Activists have launched a new nationwide campaign aimed at addressing housing justice well beyond the current crisis.