Is Mitch McConnell Blocking State Aid to Enrich Vulture Funds and Bolster Corporate Control of the E

[Judi Lynn]

Published on
Tuesday, May 26, 2020
by Common Dreams

Without further assistance from the Federal government, all states will be obliged to make draconian cuts in their budgets.

by John Buell

Has the Senate Majority Leader lost his faith in the wisdom and predictability of markets? Crude partisanship may underlie his reluctance to enact further Covid Depression relief assistance, but the reason given was extraordinary. The Senator professed a desire to wait for the effects of the first relief package to become apparent. “I think we need to wait a few days here, a few weeks, and see how things are working out,” McConnell said on “The Hugh Hewitt Show.”

So unless and until the current stimulus, unemployment compensation, corporate slush fund runs out the best advice he can give is to chill out. The magic of the market has given way to a recognition of the market’s unpredictability. But the conclusion is good old fashioned Republican orthodoxy — don’t do anything more and let the chips fall where they may. Well the time has passed and the economy has continued its rapid decent.

I welcome McConnell to the ranks of Left and alternative economists who have long recognized that market economies don’t move seamlessly toward predictable optimizing equilibrium.

Complexity and unintended consequences are a fact of modern life, but even in late March some facts were apparent, and now they are glaringly obvious. Yet McConnell pauses, awarding priority only to confirmation of right-wing judges and liability forgiveness for corporations.

More:
https://www.commondreams.org/views/2020/05/26/mitch-mcconnell-blocking-state-aid-enrich-vulture-funds-and-bolster-corporate

[Blue Owl]

1. Hey Mitch go fly a kite in a lighting storm

n/t