Yesterday was the second highest day on record of reported cases of the COVID19. In a rational economy based on providing goods and services this would be a disaster. With more sickness among the mass of the people, workers production would be down. So too, these same workers, as consumers would be unwilling go to public places and spend their money. Despite a 25 billion dollar bailout package, American Airlines is furloughing 25,000 workers.
This would seem to be an economic disaster. However, for the financial capitalists, unemployed workers, under-consumption of goods by workers and the death of workers adds up to the Dow Jones Industrial going up a thousand points a day this week.
Read in WSWS
This has far more to do with the trillions of dollars the US is pumping into the banking system in quantitative easing, most of which seems not to be entering the economy, along with the elimination (since June 1) of reserve requirements for banks, allowing those which have both a banking and an investment arm (including the “Vampire Squid”, Goldman Sachs) to self fund the further acquisition of shares at no cost to themselves. There is no physical constrain to this government funded Ponzi scheme fraudulently transferring any and all available income producing assets to the banking sector with the US government. as an active co-conspirator.
Good points, Meshed Gears!