Wednesday Evening Owls: Ideas for Easing, Recuperating, and Rebuilding the US Financial system

This memo explains why policy makers must now provide around $ 3 trillion in debt-financed financial assistance, with the first $ 2 trillion hitting the economy between now and mid-2022. These upfront incentives, coupled with investments that ensure a very slow phasing out of this fiscal support, are needed to ensure a return to a labor market of high pressure and low unemployment by mid-2022. In particular, the memo urges policy makers to take the following actions:

Financing financial support with debt […] Aim for a high pressure labor market by choosing an ambitious unemployment rate target that defines the health of the labor market. […]

Refuse to accept the self-destructive notion that the COVID-19 shock will (or has already left) permanent and irreparable economic scars.[…] Avoid premature and steep tax relief withdrawals by increasing public investment in public goods that are suitable for leverage even in times of economic health. Also, for the sake of future crises, we should start creating automatic triggers for things like unemployment insurance and aid to state and local governments. […] Finally, note that this $ 3 trillion in financial assistance is going to help meet the economic goals. Money is clearly still needed to contain viruses and will be needed in the coming months to get vaccines up and running quickly. Public health action is the most important part of responding to the pandemic. Therefore, any money that can meaningfully help in this regard should be added economically Package of Relief and Recovery. […]

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“The good hand of God favored our beginnings [by] sweep away a great number of the natives … so that he may make way for us. ” ~~ William Bradford, a founder and governor of the Plymouth Colony.



At Daily Kos that day in 2012– There was no “war on coal”, but there should be. Just not on the back of miners. Delay is rejection:

Coal is a disaster for the climate, and while it provides well-paying jobs in areas where there are often no others, it is also a disaster for the coal communities and miners. For these reasons, in the face of his last successful election campaign, President Obama should do everything possible to enact regulations that will force an end to most of the coal mining industry – a ban on mountain peaks, regulations that control CO2 Emissions from existing plants, more resources to enforce health and safety regulations while coal is still being mined, the installation of all the barriers that put the executive on the path to increasing U.S. coal exports, and negotiating a non-export pact with the others leading exporters in the world (Russia, Australia, Indonesia). He should also find various innovative means to assist miners and other coal company employees and invest in the futures who will lose their livelihoods if coal production is scaled back.

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