What are the arguments of Larry Summers, Oliver Blanchard, and other nonconomists rallying behind Republicans and big capitalists’ trying to reduce Biden’s $1.9T economic stimulus proposals? How bad is the US recovery in January 2021? Rasmus debunks each of the main points being made by Summers & friends and the rosy picture being painted for first quarter 2021. Dr. Rasmus then comments on the current impeachment trial in the US Senate and why it will resolve nothing of the threat to what remains of US democracy in the next two years by the Trump forces and Trump himself.

Alternative Visions - Debunking Economists’ (Larry Summers et. al.) Attack on Fiscal Stimulus Bill

Dr. Jack Rasmus will focus on today’s continuing crisis in the U.S. and global economies.

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Focus on what’s happening in Europe and Its new plan to give profits from seized $260B of Russian assets to Ukraine. Russia’s seizure of Deutschbank & Commerzbank response. US media admits NATO ‘price cap’ sanction on Russian oil sales a failure. Biden spins it as a success. Ukraine war update: Zelensky no longer president but continues in office. The real strategic objective in Russia’s new Kharkov offensive. CIA and Mossad join forces setting entire Caucasus region on political fire. Some curious facts about Iranian president’s recent death. The show concludes with broad summary of state of US economy: home sales, PMIs, & commercial real estate funds (REITs) growing crisis; Yellen/US reject idea of 2% global wealth tax on millionaires; Pentagon spending hits $884B/yr.; highest paid US CEOs rake in $4B, up from $800m.

Alternative Visions- Europe Plan to Distribute Russia’s $300B + US Economic Update

With BRICS conferences coming this year and fundamental challenges to US economic empire coming in 2025 and after, the US empire continues to react and fight back. Today’s show reviews the hot spots: In Ukraine, Russia military advances resulting in more NATO escalation including US signaling Ukraine it’s ok to use missiles to attack inside Russia; re China, US policy expands sanctions plus reintroduces a Trump tariff strategy as US tech corps in China begin to exit; in So. America, Argentina’s IMF-Banks model of super-neolib policies devastate the economy, crash the currency 90% and raise poverty to 58% in order to pay IMF & western banks bondholders; in Europe, US multiple US policies now driving Europe to deeper economic dependency on US and US political vassalage. Meanwhile, US economy slows steadily as both housing and manufacturing continue to contract, price gouging remains chronic, real wages slowing fast, real retail sales stagnate, and banks expand debt leverage while corporate profit margins, stock prices, and buybacks accelerate.

Alternative Visions- US Economic Empire Reacts

In critical week of the Ukraine war, NATO beginning to panic & threaten escalation: Macron, Cameron & Jeffries talk of NATO troops in Ukraine. Russia reacts announcing tactical nuke exercises and call in UK and French ambassadors. Assassination attempt on Zelensky foiled. Ukraine begins drafting prisoners. Russia Kharkov offensive begins early on May 10. Blinken-Yellen visit and threaten China. Importance of coming BRICS conference in June. Today’s show then turns to US domestic issues and discusses new Report of 11.4% rise in 2023 CEO pay  to record median $23.7 million ( with stock awards up 20%). Shareholders returns also up 13.8% in 2023. All CEO & shareholder data =>3 times current  inflation or wages. Trend to continue as Corp buybacks in 2024 to exceed $700B for Fortune 500(+ another $500B for dividends.  Meanwhile, interest charges on student debt to rise to 6.5%-7.5% and Social Security Fund Trustees warn of inadequate funds for retirees coming

Alternative Visions- Ukraine War Update + US CEO Pay & Other Reports

Today’s show reviews major developments in various global economies: In USA, the Fed’s latest decision to keep interest rates at current levels + its decision to start buying back US Treasuries (QE by another name perhaps?). Why the liquidity injection? Answer: growing concerns about US banks in 2025? Next, is China growing again or not? The idiocy of US policy toward China as Blinken and Yellen attack it economically but request it intervene on behalf of US with Russia and Ukraine. What’s happening in Europe with France announcing it will send troops to Ukraine as EU (and UK) economy stagnates. ECB chair, La Garde, worries about seizing $260B Russian assets. How this may lead to de-dollarization and de-euroization. What’s happening in Argentina as its peso is devalued by 50%. A deeper look at Office Commercial Real Estate in the USA, US Govt Debt, and US Treasury’s record level of current bond buying.

Alternative Visions-  Review of Global Economy Events

The first pass for US GDP for 1st Quarter 2024 was released last week. Today’s show dissects the areas generating growth vs. those slowing US economy. Takeaways from the data are discussed: Contracting now are consumer spending on goods, business private inventories and a big contraction in net exports. Only consumer spending on services continue to drive GDP as government spending slows but remains positive. The show explains why the 1.6% GDP rise in Jan-March was actually lower, once the adjustment for prices is more accurately estimated. Why and how the US low-balls inflation and thereby boosts real GDP. Real growth in US economy was therefore flat. The show then discusses why mainstream economists consistently get their forecasts of the economy wrong—prices, jobs, and GDP—because their forecast models contain multiple assumptions that are simply incorrect.

Alternative Visions - Debunking Economists’ (Larry Summers et. al.) Attack on Fiscal Stimulus Bill

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