In this two-part episode, Dick and Nate were good enough to come back and join Sean KB to continue Antifada's #linegoesdown mini-series on capitalism in crisis.
With people in the United States and around the world facing the serious consequences of the Covid-19 pandemic and the ensuing economic fallout, we decided to throw together an emergency podcast to try to analyze the political economy of this perilous moment.
Why is the Coronavirus a particularly capitalist plague? How has it ruptured communities and economies across the globe? In what way is the contemporary financial panic connected to the health crisis? What underlying tendencies within the economy have emerged and what is the prognosis for the American and international working class? When we come out of this crisis - and we WILL come out of it - how can we hope to institutionalize any gains we might make in terms of housing, work, and income?
N.b. - We have some information about what you can personally do to keep yourself and your loved ones and your community safe in this time, but please please please take your direction from health professionals and follow social distancing protocols for the good of yourself and those around you. We will continue making content through the course of this crisis. Our hearts, and our solidarity, are with each and every one of you!
On shale production in the United States: https://knowledge.wharton.upenn.edu/article/will-fracking-industry-debts-set-off-financial-tremors/
On commercial debt and credit markets: https://www.bankrate.com/banking/federal-reserve/why-the-fed-pumps-billions-into-repo-market/
IMF on the economic outlook BEFORE the pandemic: https://blogs.imf.org/2019/10/15/the-world-economy-synchronized-slowdown-precarious-outlook/
Michael Roberts' analysis: https://thenextrecession.wordpress.com/
Follow Dick @dickophrenic and Nate @postcyborg on twitter and read their blog: https://t.co/ArbMmcCrL1?amp=1
Intro/outro theme: Stereolab - Ping Pong