The world capitalist economy was already slipping into a recession (long overdue) before the coronavirus pandemic arrived. The US economy had been in a credit-fuelled bubble for the last six years that enabled the economy to grow even though profitability has been falling along with investment in the ‘real’ economy. “The underlying health of the global capitalist economy was poor before the plague, but was obscured by cheap money driving speculative gains which fed back into the economy”.

→ https://thenextrecession.wordpress.com/2020/05/17/profitability-investment-and-the-pandemic/

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