Hunts Point Strike Is the Bold Labor Action the Country Needs Natasha Lennard
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.
See yesterday’s news links here
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