What comes next?

Maybe there's a glimmer of light at the end of the tunnel, but nobody has any solid ideas about what else we'll find down there.  Pretty clearly, though, things will be different.  Both socially and economically, our current situation is a lot more novel than the novel coronavirus; and major societal disruptions provoke culture change.

Nobody is surprised by leaders like Orban, Duterte, and Modi becoming more authoritarian.  Tr*mp might dream of emulating them, but Tr*mp's general ineptitude and lackluster popular approval should make that impossible.  Meanwhile, economic collapse has prompted Congress to adopt a series of "socialist" initiatives that may be the forerunners of broader socioeconomic reform.

Granted, the plutocratic class will do its best to stymie any significant change; but workers who lose their health insurance along with their jobs are a lot more likely to abandon their "preference" for employer provided plans; Americans with little or no savings, including a sizable slice of the Red Hat Brigade, will come to recognize the need to expand safety net programs; and America's massive wealth disparities will become increasingly intolerable as the pandemic and its aftermath make them increasingly impossible to ignore.

Even if Tr*mp's "miracle" happens, and the virus subsides substantially in coming months, economists agree that recovery from its economic damage is likely to take years.  With weak consumer demand, many of the "safe" jobs currently being performed at home also will disappear.  Nobody is truly immune, and all of America will come to understand that.

Those who follow this blog know that optimism is not one of its defining characteristics, but this time there is some reason to hope that we eventually will emerge from this crisis with a more just society.  To be sure, November's elections will make a big difference.  One only can hope that the Democratic establishment can move beyond Clinton-era ideas of what is "practical" and start listening to the party's more progressive wing.

Briefly

That tape
I've been wondering who might have been the source of the "Pussygate" tape, why it was not released during the primary season, and how it came to be perfectly timed as an "October surprise."  It's hard to believe that the timing was purely coincidental.

DDoS
Now, the internet is threatened by our baby monitors, thermostats, and refrigerators  Aside from the threat to the internet, we might be well advised to consider the threat to our baby monitors, thermostats, and refrigerators.

Recovery?
The pundits wonder why, despite the much vaunted economic "recovery," so many people continue to report economic insecurity.  The obvious answer is job insecurity, with so many new jobs defined as temporary or 1099 independent contractor, and unionization efforts effectively blocked in most states.

The Revolution
Even a Tr*mp presidency would do nothing to constrain the inside-the-Beltway echo chamber of "experts" who control American foreign and economic policy.  There is no revolution.  There will be no revolution.  Sad.

Jobless "recovery"

Now that the senatorial election in Massachusetts has tossed Obama's lame-ass health care bill into the toilet, nothing will help the Democrats but some aggressive action against the bankers. How can that be done, considering that Wall Street is a major funder of candidates of both parties?

Beats me. Frankly, I see the plutocracy remaining firmly in control. As you may have noticed, I tend to be bearish on America.

Shit.

Here's why the recovery is jobless:

1. Productivity — When employers figure out that they can get more work out of decreasing numbers of desperate workers, that's exactly what they do. In case you haven't noticed, that's exactly what they're doing now. Why hire more?
   
2. Low Interest Rates — The low rates now being maintained by the Fed are supposedly going to make it easier for businesses to borrow, expand, and hire more workers. Nope, not quite. Low interest rates make it easier for businesses to afford the machines that replace workers. Why spend money on some smelly, angry guy who wants health insurance when you can have a machine that demands nothing?
3. That Whole Globalization Thing — Maybe you can train an out-of-work factory worker to be a telephone customer service representative, but cost-benefit analysis still will send the business to Mumbai or Calcutta. The whole argument that better education will improve the American economy is crap, because, whatever it is, we can't do it for less then they can.

So where do the jobs come from in this "recovery?" Beats me — and if the jobs are scarce and pay minimum wage, who has money to buy the services (we can pretty much forget about goods, except for export) the alleged recovery will produce? The Chinese? Maybe we could retrain unemployed Midwest factory workers to speak Chinese, so they can work the telephones for Chinese collection agencies.

Nah. The Indians will get those jobs.

So what is a cafe au lait president who promised change and so far has delivered just more and more of the same to do?

Me, I'd start by firing Larry Summers, Tim Geithner, and anybody else who ever was attached to Robert Rubin's teats. I'd replace Summers with Joseph Stiglitz. As for Treasury, Paul O'Neill would be a pretty amusing choice, and could help Our President continue his idiotic pretense of seeking bipartisanship.

Frankly, I don't think the Democrats have the guts to enact health care reform via reconciliation, so unless one of those oddball Republican women from Maine crosses over to the "dark" side, health care reform is as good as dead. All that's left to rescue Democratic candidates in 2011 is a really hard, stinging slap at Big Finance — accompanied by a lot of rhetoric about Republicans sucking Wall Street's balls. Since the Republicans will be sucking Wall Street's balls, the only obstruction to using this approach will be the difficulty Democrats will have disentangling Wall Street's balls from their own tonsils.

If you're looking for work — good luck. If you need health care and don't have insurance — good luck. What the hell — if you're living in contemporary America, good luck! You'll need it.