1. Some pundits have been puzzled by the fact Republicans are already embracing austerity, an odd choice before an election when they should be trying to juice up the economy. One answer is that they've already won the big stimulus fight: unlimited funds for Wall Street.
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5. Some further thoughts on the larger shape of the new economy: unlimited looting by Wall Street and austerity for the working class:https://www.thenation.com/article/economy/bipartisan-cares-act-unemployment/ …
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6. A correction: the $7 trillion was used more broadly for treasuries and mortgage backed securities:https://twitter.com/vtg2/status/1290323741168349185 …
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There's really no "now" about this. The US government has been using the treasury for the interests of large corporations since always. This is a bit more direct, but think on the dirty wars & coups in Central & South America on behalf of United Friut Co, mining interests, etc.
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Meet Earl Thompson: https://sites.google.com/site/joshuarhendrickson/economists-you-should-read/earl-thompson …. Thompson long ago (https://drive.google.com/file/d/0B-AvoOmPTyGaU2ExcDdFMC1qQzQ/view …) offered a national defense argument to explain why certain industries, which get called upon by the state in an emergency, receive support from the state.
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They always have been to a degree
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