One of the results of the coronavirus police state is that small businesses are bankrupted, while the big corporations take an ever growing market share (owned by the fabulously wealthy or the giant investment funds including BlackRock and Vanguard)
Quote:Eventually, the overall economy will recover, more or less. People will need to buy things and pay for services. But the coronavirus will radically reshape Main Streets across the country, accelerating changes long in the making — chain stores will replace mom-and-pop businesses, some storefronts will remain vacant, and cash that once went into local hands will be redirected to Amazon and Walmart. (Amazon chief executive Jeff Bezos owns The Washington Post.) The pandemic will reinforce and exacerbate what were already the two key economic trends of our lifetime: consolidation and inequality.
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Concentration will also grow as the strongest companies buy up weaker ones that nonetheless have valuable brands and other assets — just as JPMorgan Chase, the least shaky of the major banks, absorbed Bear Stearns and Washington Mutual during the 2008 financial crisis and emerged as the largest bank in the country. Or weaker companies will be taken over by private-equity firms flush with cash, hunting for bargains.
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the post-coronavirus American Dream will be accessible only to children of the fortunate: Get an elite education, work for Google or Goldman Sachs, and start a technology company or become a partner at a private-equity firm.
http://archive.is/B3hya
West Virginia Governor Jim Justice got a $1-2 million in April and another $5-10 million Paycheck Protection Program (PPP) loan for his luxury Greenbrier resort in White Sulphur Springs.
Hobby Lobby king David Green, associate of smugglers all over the world got a $2-5 million PPP loan for his Museum of the Bible with dubiously acquired artefacts.
Ayn Rand Institute board member Harry Binswanger explained in May why they would “
take any relief money offered”:
Quote:It would be a terrible injustice for pro-capitalists to step aside and leave the funds to those indifferent or actively hostile to capitalism.
Of course we wouldn’t want tenants to be prevented from paying what they owe the Trump Organization.
Dozens of tenants at buildings owned by the Trump syndicate received funds. More than 20 businesses at the Trump-owned 40 Wall Street received government loans of at least $20 million:
http://web.archive.org/web/2020070911151...institute/
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http://archive.is/G4Zha)
The wealthy receiving low-interest PPP loans include members of Congress and their families, $14 million in relief funds:
Quote:At least nine lawmakers and three congressional caucuses have ties to organizations that took millions of dollars in aid.
The dentist Albert Hazzouri, a frequent visitor at Donald’s Mar-a-Lago, asked for a huge PPP loan.
A hospital run by Maria Ryan, close to Donald’s lawyer and former NYC mayor Rudy Giuliani, requested more than $5 million.
The online Daily Caller that was founded by Trump supporter and FOX News host Tucker Carlson, received up to a cool $1 million.
The TV network and website Newsmax, owned by another confidante of President Donald, Christopher Ruddy, got a loan of $2-5 million.
According to Bureau of Labor Statistics figures already 47.2% of Americans are unemployed.
Many parents cannot pay the food their children “need” (probably nothing compared to the suffering Yemenis) as nearly 14 million children in the USA went hungry in June, that’s 10 million more than in 2018, and almost 3 times the number of children who went hungry during the “Great Recession”.
I hate to tell you that the economic collapse will hit even harder in the week of July 25, the last week of the CARES act increase of $600 in unemployment benefits.
The moratorium on evictions from federally subsidised housing will also end that week:
https://dissidentvoice.org/2020/07/covid...le-suffer/
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http://archive.is/GKuJI)
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