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Neel Kashkari: Barring ‘Miracle’, America Should Expect 18 Months Of Rolling Shutdowns
On Sunday, Neel Kashkari offered a disconcerting take on what he says will be halting efforts to restart the world's largest economy.
Speaking to CBS’s "Face the Nation", Kashkari cast considerable doubt on the idea of a "V-shaped" recovery, citing evidence from across the globe, where the coronavirus has resurfaced once containment protocols are relaxed.
"These predictions that the economy is just going turn right back on when people go back to work [are] overly optimistic?", Margaret Brenn
The capitalist are getting antsy and at this point in time, after decades of abuse, labor has them by the balls. Strike while the iron is hot.
I do agree about the abuse but not so much about the power shift. Some may consider “striking” while their antibodies are hot; if they could get proof. Hey there is a market some capitalist need to step into cheap private C19 antibody testing.
Cue dividend cuts, mass layoffs, and the rise of the machines?
Labor does not have them by the balls in any sense of the imagination. Who do you think makes up the food lines?
For better or worse, massive automation is on the horizon. Self-driving vehicles alone will displace millions of jobs. That won’t happen overnight, as some have predicted, but we will see it over the next decade or so. Even that slower change will be fast enough to be highly disruptive of labor. That’s just in the transportation sector. Change driven by automation is coming to manufacturing, food service, finance, etc. I am sympathetic to labor and middle class workers… my father was a very hard-working blue color employee… but I don’t see them with much power,
The current Republican government is merely nibbling on the margins, and not really attacking the problems that the middle class is facing in the future. As with the coronavirus, Trump sees the economic problems as coming from outside. In reality, the problem is already massively internally spreading. So, even if he deals with the external threat of globalization, the middle class will soon be ambushed by automation.
He wasn’t really entirely blue, just his collar.