Why is the stock market up? It is a farce. Karl Smith discusses the ramifications of the COVID-19 pandemic in detail with respect to the numbers and government.
The president is talking, in spite of COVID-19, about the market starting to recover in the third quarter and take off in the fourth quarter.
If COVID-19 is somehow under control in those two quarters, it is clear that the market could only recover if it is stoked by the government. Could we develop Americans’ well-being in that manner as well?
- 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.
We need Medicare for All
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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
- Dem strategist on winning: GOP giving gifts. Message Republican Party as wacko party & then …￼
- Kansas defied polls, voted in droves, and protected women’s rights. WOMEN WON!
- Former CNN Host Rick Sanchez: An empowering message of professional rebirth after an unfair firing.
- Fmr GOP strategist: Fist-bumping Senators after denying healthcare shows a moral collapse of the GOP
- Fmr. VP’s Chief of Staff shades Matt Gaetz for dissing Pence: He’ll be in prison by 2024.
- LIES EXPOSED ON VIDEO: Trump officials lie on Fox News about Jan 6 but truthful to Senate Committee
- Donny Deutsch: You got to scare the hell out of people about Republicans’ level of crazy & insanity.
- Larry Summers’ inflation & employment statement proves we have a defective & evil economic system.
- The economy does much better under Democrats than Republicans. Why the professors’ hesitation, then?
- Stephanie Ruhle exposes Trump and GOP comical revisionist history about Trump’s economy.
- Buttigieg to Rubio: if you have time to fight Disney, have it to safeguard families like mine.
- At last, a necessary narrative change about the 2022 midterm. It is starting to trend Democratic.
- Economist Larry Summers: Middle-class & poor must suffer to fix the economy that the corporatocracy destroyed.
- Liz Cheney throws shade on 50, 60, & 70-year-old hiding cowardly men. Women get the job done.
- Troglodyte candidate Matt Birk has views about women that aren’t aberrations but Republican orthodoxy.
- Supporting Politics Done Right means independent dissemination of the Progressive message and more.
- GOP Rep. Adam Kinzinger: Donald Trump is a stain on our history, a dishonor to those who fought.
- Liz Cheney destroys Donald Trump: He violated his oath. He cannot be president again.
- EPIC! Bernie slams Semiconductor companies seeking welfare for ‘a problem you created.’
- We stop a Right Winger in his tracks as he attempts to lie about crime relative to guns.