Special Spotlight: COVID-19
Real Progressives is particularly well-positioned from an MMT perspective to address the current COVID-19 crisis and we want you to have this information.
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Our monthly National Outreach call is an opportunity to hear from, and ask questions of, special guests. This month our Guest is Nathan Tankus, Research Director of the Modern Money Network.
The Federal Reserve has been announcing a constant stream of programs and program updates during this pandemic. This can be confusing, especially when many of us don’t fully understand even normal Fed operations. Basically, what’s happening is simple,’the Fed is creating money in order to lend to businesses and financial institutions, and making purchases of securities that trade on open markets. What is this meant to accomplish, and why is it not enough to replace the incomes lost as a result of COVID-19?’ Nathan will be breaking down what the Fed is doing and answering all of these questions, and more.
Subscribe to Nathan’s blog, Notes on the Crises
VIDEO: COVID-19 threatens many lives with unemployment, lack of finances, suicide, lack of health care, and many other issues. Bernie Sanders has created a fantastic plan for this, beyond the bedrock of Medicare For All. From making sure we all have access to food and necessary social services to suspending debt collection to an aid package for states and cities, Bernie Sanders has got our backs. Steve Grumbine takes a dive into this plan to discuss how it works and why it’s urgently needed.
We are at war against COVID-19. FDR’s approach to World War II provides an excellent model for how to approach this politically and economically. Pavlina Tcherneva lays out the particulars of what must be done and how it will be financed, both now and after the pandemic has come to an end.
As Congress Pushes a $2 Trillion Stimulus Package, the ‘How Will You Pay For It?’ Question Is Tossed in the Trash
Everything we’ve heard about being unable to afford life-saving programs has evaporated with the recent deluge of pandemic-oriented federal spending. It’s now plain to see that the abandonment of the people in federal spending was not about a lack of ability but a lack of political will and priorities. Stephanie Kelton explains all in this excellent article.
VIDEO: Matt and Jabari are ‘essential workers’ who join the growing number of voices speaking out about the lack of personal protective equipment as more stories emerge of front-liners falling victim to COVID-19. Check out Real Progress in Action on YouTube for more of Matt Stueck’s videos and other great content.
Real Progressives’ Media Library
In case you missed them, here are four recent episodes of our Macro n Cheese podcast.
PODCAST: In the US we only need 1% of the population to grow all the food and only another 7% for manufacturing. That leaves a lot of untapped human resources. What do we do with the rest? How do we create an effective economic structure? This is a political question, and one we must get right.
PODCAST: Recent presidential primary results have been disappointing for supporters of Bernie Sanders. The corporate media and mainstream pundits say that Bernie’s weakness is his failure to attract Black voters. Steve’s guest, Glen Ford, executive editor of Black Agenda Report, tells us that, in fact, Bernie’s agenda is quite popular among blacks, especially the younger generation. The problem lies elsewhere.
PODCAST: What is public health infrastructure? Is it loan forgiveness? Universal paid sick leave? Public-access high-speed internet? Autonomous vehicles to make deliveries? After COVID-19, will we be prepared for the next crisis event? Fadhel Kaboub tells us why it’s too expensive not to act.
PODCAST: Sometimes it seems economists forget that economics is a social science, which is why we’re excited to bring the new generation of MMT to Macro n Cheese. Matthew Robinson is a doctoral student at UMKC, where he is connecting his studies to the real world by working on public health issues in the community.
Knowledge Area Spotlight: Health & Nutrition
REAL PROGRESSIVES FOCUSES ON SEVEN KNOWLEDGE AREAS. THIS MONTH WE ARE SPOTLIGHTING HEALTH AND NUTRITION.
Now that the government is dishing out money over a healthcare crisis, the “ounce of prevention” that Medicare For All would provide is looking better and better than the “pound of cure” we’re currently employing. In fact, Nathan Locke notes that a progressive system would ameliorate a gigantic portion of many other problems we’re having as well.
When health insurance companies began to merge, ongoing layoffs and constant changes meant instability and chaos. This was used as a distraction by many corporations so they could quietly increase healthcare insurance premiums.
Elders are under a great deal of pressure and must resort to skipping medications, but they are not generally sold on Medicare For All. Is it really better? YES. M4A is comprehensive care, given free at the point of service. It includes everything traditional Medicare includes now, but private insurance Medigap coverage is unnecessary because it covers 100%. In this article, Dr Lisa Peck explains the benefits.
MMT IS THE CORNERSTONE OF THE REAL PROGRESSIVES MOVEMENT. AS SUCH IT IS IMPERATIVE THAT THE CONCEPTS ARE CLEARLY EXPLAINED AND DEFENDED.
JD Alt’s new book examines why the “standard money theory” we habitually apply to the world is incapable of confronting the challenges of global climate change. It then provides an easy to follow layman’s explanation of Modern Money Theory (MMT) and shows why this new perspective is the best hope the world has to actually pay people to do the work – and alter their consumer choices – to save the planet. This article includes a link to purchase the book.
Opponents of Bernie Sanders’s progressive proposals warn us, “Even if you raised taxes to 100% and drained every single dollar in the United States, that still wouldn’t be enough to pay for Bernie’s programs.” We admit it: this is true. Nathan Locke explains why that’s never been the point.
Real Progressives Writer’s Corner
The deck is stacked and the system is rigged, including our only supposed means of recourse, the electoral system. If we are to affect the change we need in this country, we need more than good leaders in a bad power structure; we need to reform the power structure itself. In order to do that, we need to do more than vote – we need to make ourselves truly heard. Rebecca Gillette demonstrates why a general strike is our best (and possibly only) option.
The media should question these cheap shots against us and stop reinforcing the negative, divisive, and false messaging about the Sanders campaign and our movement. It is harmful to democracy.
Meme of the Month
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