Capitalism and inequality

999 Warnings of European double-dip recession

21 October 2020

999 Google anti-trust case

21 October 2020

999 Unemployment, job losses among artists

21 October 2020

999 Fed data show over 100 million Americans out of work

21 October 2020

US health insurance companies see profits soar while mounting medical bills bankrupt Americans

By Alex Johnson, 20 October 2020

Insurance companies saw their profit margins soar during the first half of this year, while millions of American families are being sent into bankruptcy under the weight of massive medical debts during the coronavirus pandemic.

Cost-cutting and “visual appearance” main concerns for Grenfell Tower refurbishment

By Charles Hixson, 19 October 2020

David Gibson, KCTMO former heard of capital investment, explained last Wednesday that all his discussions at the time had been about cost and appearance. “The discussions we were having were: what does it look like, is it acceptable for planners and what’s the cost”.

Chilean government mobilizes police and military on anniversary of social revolt

By Mauricio Saavedra, 19 October 2020

In response to planned demonstrations, Chile’s ultra-right government is placing tens of thousands of militarized Carabineros police, Special Forces and military troops on alert.

999 COVID-19 deepens South Asia economic crisis

17 October 2020

999 Reports on Insurance profits/medical bills

17 October 2020

Trump administration reverses decision to not send $350 million in federal aid to fight California fires

By Alexa Castro, 17 October 2020

As wildfires continue to destroy millions of acres throughout the US West Coast, the social and economic crisis continues to deepen in the region.

Trump administration tipped off wealthy investors about coronavirus while it downplayed threat in public

By Jacob Crosse, 16 October 2020

The revelations reveal the overriding concern of the US government was the protection of the financial aristocracy at the expense of the health and safety of the population.

Nearly 900,000 new jobless claims in US as benefit cutoffs lead to spike in poverty

By Shannon Jones, 16 October 2020

New unemployment claims reached 898,000 last week as researchers report that the cutoff of federal supplemental unemployment benefits has fueled a surge in poverty.

IMF reports on global economy: Political conclusions

By Nick Beams, 16 October 2020

The IMF has forecast that the cumulative loss of global output compared to the pre-pandemic path will to grow from $11 trillion in 2020–21 to $28 trillion in the period 2020–2025.

Amid record long-term unemployment, US government denies aid to workers

By Jerry White, 15 October 2020

Whatever the political maneuvering in Congress, the bottom line is both parties are denying relief to tens of millions of people who are confronting the worst economic and social crisis since the Great Depression.

After rejecting UAW-backed contract, Ventra workers in Ohio press for strike

By J. Cooper, 15 October 2020

Auto parts workers at the Flex-N-Gate subsidiary have consistently rejected the concessions made by the UAW Local 1216 leadership since negotiations began in late July.

Hefty profits for top US banks as millions face social disaster

By Shannon Jones, 14 October 2020

As long-term unemployment rises, major Wall Street Banks JP Morgan and Citigroup have reported booming third quarter profits.

Michigan Supreme Court overturns governor’s executive orders on COVID-19 pandemic

Benefits for hundreds of thousands of jobless workers in jeopardy

By James Brookfield, 14 October 2020

The rulings coincide with the demands of the ruling elite that workers return to work under dangerous conditions so that profitability can be restored.

IMF report points to ongoing plunge in world economy

By Nick Beams, 14 October 2020

The IMF said the “scarring” effects of the pandemic would compound forces that dragged down productivity growth across many economies in the years leading up to it.

Merger between Beaumont Health and Advocate-Aurora Health collapses amid expanding staff opposition

By By Kevin Reed, 14 October 2020

The deal to merge the midwestern hospital chains collapsed as a result of mass opposition among doctors, nurses and health care workers.

Australia: New South Wales wage freeze approved by Industrial Relations Commission

By Martin Scott, 14 October 2020

Growing numbers of workers are demanding industrial action while the unions are advocating impotent appeals to big business politicians.

Cuts to healthcare system responsible for Victoria’s coronavirus resurgence

By Margaret Rees, 13 October 2020

Mass health worker infections are the direct outcome of the gutting of the sector by successive state and federal governments, Labor and Liberal alike.

UK jobs cull continues as thousands more redundancies are announced

By Margot Miller, 13 October 2020

The pandemic is having a devastating impact on lives and livelihoods, thanks to the disastrous policies of the Johnson-led Conservative government—fully supported by the Labour opposition and trade unions.

Poverty in Germany: Power cuts for 289,000 households

By Elisabeth Zimmermann, 13 October 2020

Hundreds of thousands had no lights, no warm water, could use neither stoves nor refrigerators, could not do laundry and had no access to radio, television or the internet.

New Jersey projected to face disproportionate growth in food insecurity

By Erik Schreiber, 13 October 2020

The Community Food Bank predicts that the number of food-insecure New Jersey residents will surpass 1.2 million—a staggering 13.5 percent of the state’s population.

Grenfell Tower landlord rejected safety checks to save £30,000

By Charles Hixson, 12 October 2020

The 2014-16 refurbishment, including enveloping the tower in flammable cladding, turned the building into a death trap that claimed 72 lives.

Richest 50 Americans now have as much wealth as bottom 165 million

By Gabriel Black, 10 October 2020

Data from the Federal Reserve demonstrates that the pandemic has accelerated trends toward social inequality in the United States.

New Zealand debates reveal bipartisan support for austerity and US alliance

By John Braddock, 10 October 2020

Both Labour Prime Minister Jacinda Ardern and opposition leader Judith Collins pledged continued support for the US, as it prepares for war against China, while proposing nothing to stop the worst social crisis since the Great Depression.

Deaths of Sydney delivery drivers expose dangerous conditions in the “gig economy”

By Max Boddy, 10 October 2020

The conditions in the sector are the direct result of the destruction of permanent full-time jobs, enforced by the trade unions.

The California wildfires: A disaster of capitalism and climate change

By Rafael Azul and Peter Ross, 10 October 2020

Even as record-breaking fires rage across the US West Coast, the ruling class has refused neither to address the climate crisis nor protect those in the path of destruction.

Percentage of young adults living with parents higher than during the Great Depression

By Noah Ryan, 9 October 2020

According to a new study, 52 percent of young people ages 18-29 lived with their parents in July this year, nearly six months after the onset of the pandemic in the US.

No relief for unemployed in sight as 840,000 in US file new jobless claims

By Shannon Jones, 9 October 2020

Airlines began mass layoffs and furloughs this week as new claims for unemployment remain at historically unprecedented levels amidst ever widening destitution.

Australian Labor’s budget reply: Bipartisan backing for tax cuts to the rich, austerity for workers

By Oscar Grenfell, 9 October 2020

Anthony Albanese made clear yet again that Labor and the government march in lockstep when it comes to the pro-business response to the pandemic and the accompanying onslaught against the working class.

The objective roots of social inequality

By Nick Beams, 8 October 2020

Desperate efforts are being made to obscure the fact that the unprecedented growth of social inequality, accelerated by the COVID pandemic, is grounded in the very functioning of the capitalist economy.

Global billionaire wealth tops $10 trillion as COVID-19 deaths mount

By Jacob Crosse, 8 October 2020

The unprecedented surge in wealth takes place amidst a global pandemic that has killed more than one million people worldwide, including more than 215,000 in the United States alone.

Pandemic exposes Australian employers’ exploitation of young backpackers

By Michael Smith, 6 October 2020

The political establishment’s only response to the abuses has been to expand such visa programs and extend them to jobless workers and school leavers.

Ranks of long-term jobless soar as US unemployment aid dries up

By Jerry White, 6 October 2020

Both parties are using mass unemployment and the threat of destitution as a bludgeon to force workers back into unsafe factories and workplaces.

Two charged in Massachusetts nursing home catastrophe that left 76 veterans dead from COVID-19

By Alex Johnson, 3 October 2020

Both indictments represent the first criminal case in the country brought against administrators at nursing homes during the coronavirus pandemic.

Russia prepares health care cuts as COVID cases rise

By Andrea Peters, 3 October 2020

The Kremlin’s proposed budget axes spending on health care and allocates 27 percent of all federal expenditures to the army, national guard and security forces of the interior ministry.

Former coal boss Robert Murray, who fought coal-dust standards, files for black lung benefits

By Samuel Davidson, 3 October 2020

Former mining company executive Robert Murray, notorious for opposing mine safety standards, is now seeking black lung benefits.

Drop in September job growth shows slowdown in US recovery

By Kevin Reed, 3 October 2020

The September employment report from the US Bureau of Labor Statistics shows that the economic recovery—largely based on the CARES Act infusion of government money into Wall Street and corporate America—is stalling, as millions of workers remain unemployed and a new round of corporate layoffs is being carried out.

Australian budget to slash taxes for the rich while hitting workers

By Mike Head, 3 October 2020

While mounting a further assault on working-class conditions, this is a crisis budget like no other in living memory.

The pandemic Depression: Bailed-out US airlines slash tens of thousands of jobs

By Genevieve Leigh, 2 October 2020

Millions of workers are being forced to choose between putting themselves at risk of catching the deadly virus and putting food on the table for their families.

Nineteen-year-old North Carolina university student in “tremendous shape” dies from COVID-19

By Harvey Simpkins, 2 October 2020

Chad Dorrill contracted the virus after his return to Appalachian State University for fall classes.

UK schools told “anti-capitalist” teaching prohibited

By Julie Hyland, 2 October 2020

The guidance builds on the Prevent strategy, first implemented by the Blair Labour government, which targeted Muslims as potential extremists and required schools to report anyone they deemed “vulnerable to radicalisation.”

Sudden forced eviction of Tennessee encampment leaves 50 homeless inhabitants struggling to find shelter

By Zac Thorton, 2 October 2020

Despite having lived at the site for years, the Chattanooga camp’s inhabitants received no notice of the impending evictions, leaving them desperate and scrambling to find shelter this week.

Desperation swells among millions of unemployed in the US as layoffs mount and aid dries up

By Jacob Crosse, 30 September 2020

Audits conducted within the last month in California, Wisconsin, Florida and Nevada reveal that millions of calls to unemployment agencies have gone unanswered.

Australian government boosts bank profits as social misery deepens

By Mike Head, 26 September 2020

The lending law changes would see a return to the predatory policies that saw the impoverishment of thousands of households, small businesses and family farmers.

Study finds 90 percent of Americans would make 67 percent more without last four decades of increasing income inequality

By Gabriel Black, 25 September 2020

The study from the RAND Corporation provides new data on the incredible shift of income from the bottom 90 percent of the population to the top 10 percent.

Combustible insulation used on Grenfell Tower was sold at a heavy discount to building company

By Charles Hixson, 21 September 2020

The Celotex RS5000 insulation—found by the Grenfell Inquiry as “more likely than not” to have contributed to the 2017 inferno—was sold to Harley Facades at a 47.5 percent discount.

Historic US job losses continue with another 860,000 unemployment claims

By Jacob Crosse, 18 September 2020

Over 61 million unemployment claims have been filed in the last 6 months, with the pandemic plunging the country into a protracted economic crisis not seen since the Great Depression.

Suppression of wages in US at centre of widening social inequality

By Nick Beams, 16 September 2020

The reduction in labour’s share of the national income by eight percentage points over five decades means that workers would be receiving $1.12 trillion more had the previous distribution between wages and profits applied.

Latin America, epicenter of COVID-19 pandemic, on the brink of social explosion

By Tomas Castanheira, 12 September 2020

Latin America this week reached the grim milestones of 300,000 COVID-19 deaths and more than 8 million infections.

As pandemic death toll approaches 200,000, American oligarchs celebrate their wealth

By Niles Niemuth, 12 September 2020

According to Forbes’ list of the 400 wealthiest Americans, the super-rich now possess $3.2 trillion, enough to pay for an entire year of public education, health care, nutrition and disaster relief for millions of people.

Ten percent of Oregon’s population ordered to evacuate as wildfires continue to ravage the US west coast

By David Fitzgerald, 11 September 2020

At least fourteen people have died in the latest outbreak: a one-year-old boy in Washington, three people in Oregon, and ten in California, and the death toll is expected to rise.

“Pandemic be damned”: Forbes 400 wealthiest Americans list reveals billionaire bonanza

By Kevin Reed, 9 September 2020

The annual list of the richest people in the US shows the enormous fortunes made during the pandemic while tens of millions have lost their jobs.

Virginia’s Democratic governor calls for drastic budget cuts amid growing social crisis caused by COVID-19

By Dominic Gustavo and Nick Barrickman, 7 September 2020

The cuts would effectively gut the few gains that were given to workers in the previously planned budget.

US joblessness crisis worsens as nearly 900,000 file new unemployment claims

By Jacob Crosse, 4 September 2020

Millions of families’ daily existence has been reduced to the struggle for bare necessities as hunger continues to grow.

Australia: International students and foreign visa holders face major social crisis

By Robert Campion, 4 September 2020

Some 61 percent of international students and other foreign visa holders were relying on savings which they said would be exhausted in a matter of weeks.

COVID-19 pandemic leads to huge spike in global hunger

By Kevin Martinez, 2 September 2020

By the end of the year more people will die every day from hunger as a result of disruptions to the global food chain brought about by the pandemic, than from the virus itself.

Elementary school students forced to use Taco Bell parking lot for internet in Salinas, California

By Rafael Azul, 2 September 2020

Photos circulated on social media this week showing children sitting in a parking lot in order to use their internet to do homework.

European governments end furlough schemes amid jobs massacre

By Richard Tyler, 2 September 2020

A study by the McKinsey Global Institute estimates that 59 million workers in Europe, over a quarter of the entire workforce, are in jobs that are seriously at risk.

The profits of August

By Nick Beams, 2 September 2020

This August, amid mass death, hunger and poverty, Wall Street recorded its biggest increase for the month since 1986.

Coronavirus cases top 25 million worldwide

By Bryan Dyne, 1 September 2020

The Trump administration continues to reduce testing in favor of its de facto “herd immunity” policy, as coronavirus reinfection cases begin to emerge.

Profiteering leaves UK care homes vulnerable

By Thomas Scripps, 1 September 2020

Investors’ pursuit of short-term profits has seen vast resources looted from the care sector and providers laden with unsustainable debts.

New Jersey teen billed $2,500 for organizing a protest

By Shuvu Batta and Daniel de Vries, 1 September 2020

Emily Gil, a recent high school graduate, was charged $2,500 for “police overtime” after she organized a protest in the town of Englewood Cliffs calling for affordable housing and an end to police brutality.

Australian report reveals accelerating social inequality in education

By Erika Zimmer, 31 August 2020

The data exposes the fraud of the Gonski funding model, commissioned by the last federal Labor government, ostensibly to overcome the socioeconomic divide.

New US jobless claims once again exceed one million

By Jerry White, 28 August 2020

Despite President Trump’s claims about a “super-V” shaped recovery, more than 27 million workers are collecting unemployment benefits and millions face the prospect of eviction and utility shutoffs.

Wildfires continue to rage across California amidst heat wave and pandemic

By Anthony del Olmo, 27 August 2020

Northern California residents have suffered more than a week of wildfires caused by lightning strikes and a historic heat wave in the midst of the coronavirus pandemic.

Markets focus on Fed chair’s Jackson Hole speech

By Nick Beams, 27 August 2020

The key question concerning financial elites around the world is how the Fed and other central banks intend to continue the stimulus to markets.

After receiving $5.8 billion through the CARES Act

American Airlines announces 19,000 to be laid off starting October 1

By Jacob Crosse, 26 August 2020

As temporary layoffs become permanent, airline executives and their stockholders, with the invaluable assistance of the trade unions, are consigning thousands to destitution.

Victims of herd immunity: further evidence that UK care home residents were denied medical treatment

By Margot Miller, 25 August 2020

National Health Service managers instructed care homes that residents who became sick were to be covered with DNAR (do not attempt to resuscitate) orders.

Despite COVID-19, French billionaires have tripled their wealth since 2010

By Kumaran Ira, 25 August 2020

The accumulation of obscene levels of wealth by a small financial aristocracy is the product of decades of austerity imposed by governments of various political colors.

Two weeks after powerful windstorm, Iowa faces humanitarian crisis

By Jessica Goldstein, 25 August 2020

As it is with the wildfires in California and the devastation wrought by Hurricane Katrina, the criminal nature of the ruling class is revealed in its response to the disaster still unfolding in Iowa.

Democrats leave 20 million unemployed in the lurch

By Patrick Martin, 24 August 2020

The House of Representatives convened for a Saturday session to vote on funding the Postal Service, but Democratic leaders declined to take any action on federal supplemental unemployment benefits, which expired July 31.

Australia’s two major airlines axe thousands of jobs

By Terry Cook, 24 August 2020

Qantas and Virgin, like their global rivals, are using COVID-19 to slash costs by eliminating thousands of jobs.

Australian universities unveil job cuts of up to 30 percent

By Mike Head, 24 August 2020

There was outrage at the University of Sydney last week after all departments were asked to plan scenarios to cut thousands of full-time jobs.

Johnson government extends ban on evictions as UK faces “avalanche” of homelessness

By Laura Tiernan, 22 August 2020

The delay follows an outpouring of public opposition to eviction proceedings due to begin Monday, with 290,000 renters at immediate risk of homelessness.

Thirty years since the capitalist reunification of Germany

Berlin leads when it comes to child poverty, precarious jobs and mass unemployment

By Wolfgang Weber, 21 August 2020

Berlin is being hit with full force by the economic and social consequences of the Corona policy of the city’s government, a coalition of the SPD, Left Party and Greens.

“A poor man’s virus:” COVID-19 reveals the class chasm in America

By Andre Damon, 18 August 2020

America’s extreme social inequality underpins all aspects of the US government’s response to the pandemic, which has been characterized by total disregard for the health, safety and well-being of the vast majority of the population.

Congress adjourns for month-long vacation without action on US unemployment crisis

By Patrick Martin, 14 August 2020

The capitalist politicians will be holding their presidential nominating conventions while millions of workers have been cut off from federal benefits.

Wall Street continues to feed on death and economic devastation

By Nick Beams, 13 August 2020

Since the crisis of mid-March when the market plunged and the financial system froze, Wall Street’s S&P 500 index has risen by 50 percent on the back of government corporate bailouts and the pumping out of trillions of dollars by the Fed.

After White House, Congress cut aid to unemployed, evictions and food lines spread across the US

By Jacob Crosse, 12 August 2020

As eviction filings increase to pre-pandemic levels, workers and their families are left to fend for themselves.

Analysis shows 54,000 “excess deaths” in US, pointing to coronavirus death toll of 200,700

By Kate Randall, 12 August 2020

A new analysis shows that the number of deaths from the coronavirus has likely been undercounted by 37 percent.

As US cruise industry delays operations until November, thousands of seafarers remain stranded

By Tom Casey, 11 August 2020

Some 12,000 seafarers remain stranded in US waters five months after the shutdown of the cruise line industry due to coronavirus.

Trump executive orders set stage for tens of millions of evictions

By Jacob Crosse, 10 August 2020

An analysis released Friday by the Aspen Institute estimates that between 28,900,000 and 39,900,000 tenants in the US are at risk of eviction by the end of the year.

Caleb Reed, a youth activist in Chicago, falls victim to gun violence

By Brian Green, 10 August 2020

Most recently Reed opposed Democratic Mayor Lori Lightfoot’s budget that starves schools of resources while flooding the Police Department with billions of dollars.

As July report shows no let-up in mass joblessness

White House, Congress combine to cut off supplemental unemployment benefits

By Jacob Crosse, 8 August 2020

Driven by social interests irreconcilably opposed to those of the working class, congressional leaders from both parties adjourned Friday without restoring jobless pay.

As Senate adjourns for weekend

New US unemployment claims top 1 million for 20th straight week

By Jacob Crosse, 7 August 2020

Indifferent to the plight of millions of jobless workers and their families, senators from both parties adjourned Thursday with no agreement on extending expired unemployment benefits.

“A nationwide strike is what needs to be done”

Angry educators and parents across the US protest the reckless return to classrooms

By Nancy Hanover, 7 August 2020

From Florida to California, teachers and parents are caravanning, protesting and petitioning against a reckless return to school as demanded by Wall Street and the entire political establishment.

West Palm Beach, Florida seniors face eviction from low income housing

By Matthew Taylor, 7 August 2020

The St. Andrews Residence has been in disrepair for years leading many residents to believe the owners have deliberately neglected their health and safety in order to facilitate a sale of the million-dollar waterfront property.

As negotiations stall on federal coronavirus relief bill

Florida governor admits state unemployment system purposefully designed to pay out “least number of claims”

By Jacob Crosse, 6 August 2020

Republican governor Ron DeSantis had previously claimed nearly all applicants had been paid and blamed jobless workers for incorrectly filling out forms.

House Speaker Pelosi signals readiness to cut unemployment benefits

By Jacob Crosse, 5 August 2020

Congress continues to quibble over a new bill as the crisis deepens for millions of workers and their families.

Anger grows across the US as closed-door talks continue on expired unemployment relief

By Jacob Crosse, 4 August 2020

Millions of American workers don’t know how they’ll pay rent or where their next meal will come from.

Congress of millionaires robs the unemployed

By Patrick Martin, 3 August 2020

Allowing federal supplemental benefits to expire for 30 million jobless workers shows the class character of both the Democratic and Republican parties.

As stock indexes continue their climb

US unemployment supplement expires, setting the stage for mass hunger and homelessness

By Barry Grey, 1 August 2020

The congressional stalemate over an extension of the unemployment pay supplement, which is certain to result in the total elimination or a major cut in the benefit, is a declaration of war against the entire working population.

Congress prepares to scrap $600 weekly unemployment payment

By Kevin Reed, 29 July 2020

The expiration of the enhanced federal unemployment benefit this week will drive millions of working class people across the US into desperate financial circumstances.

British grandmother dies weighing just 42 pounds after her benefits are withdrawn

By Dennis Moore, 29 July 2020

The benefit system has evolved from its post-war ethos as a “safety net” to one based on punishing the sick and disabled and coercing the unemployed into low-paid work.

Trump, Republicans demand $400-a-week cut for the unemployed

By Patrick Martin, 28 July 2020

The savage class war proposal is the start of “negotiations” with the Democrats in which the outcome is already assured: a severe reduction in working class living standards in the midst of the COVID-19 pandemic.

Toronto tenants protest against looming evictions amid COVID-19 crisis

By Carl Bronski, 28 July 2020

The demonstrators demanded that Toronto’s mayor use his municipal emergency health and safety powers to block evictions, and denounce the Ontario government’s recently passed pro-landlord Bill 184.

UK manufacturers warn of “jobs bloodbath”

By Paul Bond, 24 July 2020

More than half of manufacturing companies said they will make redundancies in the next six months, with a further 20.1 percent saying they might.