Monday’s news links – Jan. 25, 2021

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

The U.S. Navy aircraft carrier USS Theodore Roosevelt

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.

See yesterday’s news links here


Send suggestions and comments to [email protected]

Subscribe to
Struggle La Lucha
for news, analysis and to join the struggle for socialism. Get the latest stories and headlines delivered to your inbox every morning.