Daniel J. Cohen discusses the realities of reopening the economy. We discuss how COVID-19 exposes the fallacy within American Capitalism.
COVID-19 exposed the biggest posers for unfettered American capitalism.
It exposed the inhumanity that accompanies capitalism as practiced in the United States. Not only has it caused massive deaths indirectly but it is in the process of destroying the personal economies of middle-class and poor America. Is this the end of capitalism as we know it?
Indivisible Houston’s President Daniel Cohen discusses the perils of reopening the economy like a faucet. He will discuss his most prescient article “We can’t just “turn the economy back on”. We must adapt.” that makes the case.
- The Congressional Progressive Caucus is calling on House Speaker Nancy Pelosi to meet the coronavirus crisis with the urgency it deserves by advancing another sweeping stimulus.
- “Who Cares? Let ‘Em Get Wiped Out”: Stunning CNBC Anchor, Venture Capitalist Says Let Hedge Funds Fail and Save Main Street
- Analysis: He Got Tested For Coronavirus. Then Came The Flood Of Medical Bills.
- New polling out Wednesday backdropped by the continuing coronavirus outbreak shows that most of the country believes the U.S. political system works only for the wealthy and elite rather than for working people.
- Critics Decry ‘Massive Step in Wrong Direction’ as Big Banks Move to Buy Up Fracking Industry Assets With Coronavirus Bailout Funds.
COVID-19 v. Capitalism
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As Small Businesses in US Face Coronavirus Doomsday, Big Insurers Say: We Can’t Save You. We Won’t Save You.
“We may not have a Main Street left if we don’t take immediate action.”
As small business owners around the U.S. grapple with the financial losses they are suffering—and the suffering yet to come—as millions shut down and lose business under government orders to slow the spread of the coronavirus, property and business insurance companies are claiming they’re unable to cover those losses and are not equipped to handle pandemics like this.
As Roll Call first reported Wednesday, several trade groups representing large insurers sent a letter on April 2 to Reps. Gil Cisneros and Mike Thompson, both Democrats from California, in response to a request the lawmakers to explain why companies were not paying “business interruption loss” claims filed by small businesses.
The groups—including National Association of Mutual Insurance Companies, Independent Insurance Agents and Brokers of America, American Property Casualty Insurance Association, Reinsurance Association of America, and the Council of Insurance Agents and Brokers—said insurance companies are not “designed” to cover losses caused by a pandemic and called on the government to take action to provide relief.
“Insurance coverage works by spreading risk, but that model simply cannot account for a situation in which losses are catastrophic and nearly universal. Standard business interruption policies do not, and were not designed to, provide coverage against communicable diseases such as COVID-19, and as such, were not actuarially priced to do so,” the groups wrote.
Ahead of the Trump administration’s rollout of the $350 billion small business rescue fund, known as the Paycheck Protection Program (PPP) and comprised of taxpayer-backed loans, the organizations called on Congress to provide “additional liquidity…for impaired industries and businesses to avoid an unprecedented systemic, economic crisis.”
The grassroots network Main Street Alliance (MSA), which works directly with more than 30,000 small businesses to make sure their interests are represented in public policy, says both private and public entities should help to avoid “catastrophic closures” of small businesses as a result of the pandemic.
“We’re pushing hard for as many government interventions as possible in this unique time, including payroll support,” Cynthia Ward Wikstrom, campaigns director for MSA, told Common Dreams. “Insurance companies are some of our more profitable companies that should be picking up some of burden. It seems there could be a government-backed portion and also that insurance would pick up a portion.”
Read My Current Blog Posts
- Entire ThisWeek panel slam Christie: whataboutism, morally lost, false equivalence on insurrection
- George Stephanopoulos grills hyperventilating Rand Paul into a frenzy about GOP election lies
- Epic! MSNBC’s Tiffany Cross decimates Republican on what the GOP stands for.
- Congresswoman’s interview makes clear we cannot forget insurrection nor allow guilty to go free
- Names of the Capitol alleged insurrectionaries with complaints or indictments.
- The words Biden’s Inauguration Poet Amanda Gorman used in Lester Holt interview even more insightful
- Texas Activists carrying symbolic coffins marched at the home of Ted Cruz demanding his resignation.
- Watch President Biden tells his staff that he will fire them on the spot for Trump-like behavior!
- The Capitol Assault—Roots and Solutions
- Chuck Todd to false equivalency Republican, Only one side that tried to overthrow the Capitol.
- McConnell throws Trump, Ted Cruz, & Josh Hawley under the bus on the seditious insurrection.
- Camo or no, traitors clearly visible
- Katy Tur panel explains how the Republican Party became a cult.
- Why good people do evil things with a clear conscience? Abstraction explained.
- Karen Finney: “This is who we are.” But her message to both Democrats & the GOP was more profound.
- Southern Populism and the Secret History of Segregation
- Insurrection on Capitol: Funeral for White Supremacy. These people are the barnacles on the future.
- Rep. Clyburn calls them out as a hate group and reveals an American unfortunate truth.
- Rep. Jim Clyburn admonished Republicans. Tell the truth about the election. Stop hurting the country.
- Why Jan 6th attempted coup on the US should give legs to #DefundThePolice