Hunts Point Strike Is the Bold Labor Action the Country Needs Natasha Lennard
Chicago Teachers Union votes to defy district’s reopening plans over coronavirus concern TheHill
A teacher died of covid. Asked to wear masks in his honor, school board members silently refused. Washington Post
Tacoma police car plows through crowd of pedestrians gathered at downtown street race News Tribune
Eleanor Bumpurs’ Namesake Kin Inherits Legacy of NYCHA Neglect and Disrepair The City
The Pandemic Upended Life for Rats — But Now They’re Fine Curbed
Flint, Mich., Is Close to Replacing All of the Lead Pipes Curbed
Indigenous Peoples
Kumeyaay ‘No Border Wall on Native Land’
Biden
Biden plans to continue many of Trump’s foreign policies — at least for now Vox
Taiwan Invited To US Inauguration For First Time Since 1979 Barrons
China
US warships conduct exercises in South China Sea AFP
Taiwan reports large incursion by Chinese warplanes for second day BBC
Bolivia
Evo Morales Discharged After Recovering from COVID-19
Historic Mania in SPACs, IPOs Wolf Street
The business of SPACs is setting stunning records. A SPAC (special-purpose acquisition company) is a “blank-check company” with no business activity that raises funds from investors via an IPO and will then attempt to use those funds to buy a startup company.
Covid and fictitious capital Michael Roberts
During the year of the COVID, output, investment and employment in nearly all the economies of the world plummeted, as lockdowns, social isolation and collapsing international trade contracted output and spending. And yet the opposite was the case for the stock and bond markets of the major economies. The US stock market indexes (along with others) ended 2020 at all-time highs. After the initial shock of the COVID pandemic and the ensuing lockdowns, when the US stock market indexes plunged by 40%, markets then made a dramatic recovery, eventually surpassing pre-pandemic levels.
It is clear why this happened. It was the injection of credit money into economies.
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