The Atlantic’s Adam Serwer talks with Ali Velshi about the failure to help lower-income Americans, who have been hardest hit by the economic crisis caused by the pandemic. Aired on 6/19/2020.
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Adam Serwer: Economic Crisis ‘Didn’t Have To Be Like This’ | The Last Word | MSNBC
Let’s solve this crisis like every other fiscal crisis:
Give rich people more money and working poor crumbs.
Yup. Same old story.
Yep. It’s already started with the billions in PPP where there’s no oversight for where that taxpayer money is going because Trump fired the IG who was supposed to oversee and report openly on it. 💸💸💸
This is the kind of turmoil America gets put through before Washington decides to attack another country.
I don’t know God’s Plan for Joe Biden, but it feels like – after enduring the shocking curses inflicted upon him in his past – he was born for this moment in time!
He’s been born again with early onset dementia
Kevin no, Trump was never born again. Reptiles aren’t born, they’re hatched.
😎🙏👍✊
LMAO
The economy won’t matter a jot when we’re all dead and buried.
Trump never created an economy, his failure to lead destroyed one.
Trump is your last freedom before the Democratic serpent corporate beast system ends your demoralized existence
@Wigg Licker Well most corporations are controlled by Republicans , try again.
Wigg Licker too bad republicans are the actual corporate shills. Try again maybe?
@allabout perspective Lol, nice comeback. He cant try again.
very well said, ty mr serwer and mr velshi, and sadly true.
Traitor Trump only gave us Lip Service !
Nah, he’s giving all Americans back door service as well. Best part is, his “tough guy” supporters actually seem to love it. Perhaps that’s the source of their homophobia?
Soo for the last 20 years we have had a pattern of rep president leaves a country in crisis, dem president cleans up the mess and makes America strong again, rep president makes a bigger mess, and now we are going to elect a Democrat (4 years early in the cycle) to clean up their mess.
2020 will go to the dems.
2028 will be Republicans claiming dems made the mess and that they will make America great again.
.
This cycle will repeat untill we the people break the cycle
VOTE!
DEMS!
what did obama do? everyone all over the world got poor under his bailouts in fact the demon started bailout culture for the rich
@The Beauty Verdict because of infediles like you the us is the shtstain its in now…
The Beauty Verdict demon? You’re delusional, please get help.
@The Beauty Verdict your description of him says it all really.
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but hey, lets me introduce you to facts:
the 2008 financial crisis started under Republican president Bush.
And it was created by several presidents before that.
.
But the bubble burst 1.5 months before Obama won the presidency.
.
It took Obama 5 months to end the recession. (by definition)
.
In 2 years the markets had stabilized to pre crisis levels, and the administration had recovered most of the money spent on banks.
.
That doesn’t mean everything was fine and dandy yet, but we were on the long road to recovery.
.
By the end of his presidency we were back to where we were and had even surpassed it in some areas.
For example, unemployment went from 5% before obama, to 9.9% at the peak of the crisis, and back down to 4.7 by the time he left office.
And Trump has one nothing but ride that success…
.
And i was thinking of making a short comment… but nah.
lets dig deeper in unemployment:
Year/unemployment/difference/president
2007 5.0% – Bush
2008 7.3% +2.3% Bush
2009 9.9% +2.6% Obama
2010 9.3% -0.6% Obama
2011 8.5% -0.8% Obama
2012 7.9% -0.6% Obama
2013 6.7% -1.2% Obama
2014 5.6% -1.1% Obama
2015 5.0% -0.6% Obama
2016 4.7% -0.3% Obama
2017 4.1% -0.6% Trump
2018 3.9% -0.2% Trump
2019 3.5% -0.4% Trump
2020 14.7% +11.2% Trump
And why not do the same with GDP growth.
Year/GDP Growth/difference/president
2007 1.9% – Bush
2008 -0.1% -2% Bush
2009 -2.5% -2.4% Obama
2010 2.6% +5.1% Obama
2011 1.6% -1% Obama
2012 2.2% +0.6% Obama
2013 1.8% -0.4% Obama
2014 2.5% +0.7% Obama
2015 2.9% +0.4% Obama
2016 1.6% -1.3% Obama
2017 2.4% +0.8% Trump
2018 2.9% +0.5% Trump
2019 2.3% -0.6% Trump
2020 -5% -7.3% Trump
.
Like, if at this point you cannot concede that Obama was fine, but dealt a shi**y situation.
And that Trump has not done much better then his predecessor pre corona and despite his hatred towards him.
Then i don’t know what to tell you.
.
Trump however did cut a lot of funding to the people who could have prevented most of this pandemic, if not entirely.
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And he can complain about how Obama left him no PPE, and how we should ask china.
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But the reality is, that PPE like masks have a best before date, usually 5 years.
Trump had 3 full years of those 5 years.
.
So unless Obama had so graciously invested in his last year in office, it was Trumps responsibility for 3 years, and his administration did nothing.
It does not take 3 years to restock this stuff.
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And China did definitely do a lot of stuff wrong in this crisis, but blaming them and then sitting on your hands does nothing.
.
Take Europe for example, they were dealt the same cards, misinformed by china, little to no supply of PPE etc.
But Europe is somehow beating corona it’s almost gone there, while the US is still peaking.
.
I can go on, but odds are no one wants that, and it’s lunch time here.
.
But obama was definately not a bad president, great may be debatable, but he definately was not bad, let alone worthy of a title like “the demon”.
.
(disclaimer, i am not American, i have no steak in this, nor am i bombarded with adds from either side of the political debate)
ECONOMIC CRISIS = DEPRESSION
May 2020 retail sales surged upward, breaking all retail sales ever in one month.
Thank you, President Trump
@Deplorable , yeah right… and so have cv19 cases.🤢… more will be dead soon… funeral business will be up for sure.😡Thanks for nothing moron tRump.
@Jim P
Everyone who’s dying is dying of covid-19.
how is that possible?
2nd wave of FAKE NEWS
@Deplorable that’s because the 1st wave is still going🙄🙄🙄
@Jim P
Fake News
The economy that Trump claimed to be his work was the result of economic recovery that happened before he took office. Trump’s economy claim is as fraudulent as his Trump University and Trump Foundation charity. He’s a criminal fraudster who belongs in prison.
Unless you tax the rich the USA will stay in a 1930’s depression for years.
Economist have said that the USA won’t recover for 10 years and some business won’t ever reopen.
Some guy called Bernie was saying this 5 years ago when the MSM shot him down and anointed Hilary to lose against Trump.
When Sanders told you about 1% owning 98% he was right. 2008 economic crisis managed by Obama. It was slow but steady. trump gave away those gains in tax relief to the 1% and even tried to take away minimum wage from those who had nothing anyway. trump hits China with tariffs that make the people of the US pay while China stopped buying farm goods. Winning? He killed the economy and took a global health crisis and made it ten times worse by firing all those who knew how to deal with a pandemic. Surely thats enough destruction for one guy to wipe out 350 years of work. The guy himself has never worked a day in his life.
Ask how many of the Trump cult members in Tulsa own stock. Most don’t look like the kind of people who can afford a Mar-a-lago membership.
Our service men and women are forced to stay at his Scotland hotel they cant afford the bottled water.
Trump despises those people he would never let them in Mar a Lago.
We never shut down for a flu.
Trump believes that people dying will make the jobless rate look better.
People are lining up in the food bank lines because Trump’s family and friends got it 90% of the cares act…😏
Republicans have had control of one or both houses of Congress from 2011 to 2019. Until those obstacles are removed, reform can’t happen.
the guy is talking about 12 years ago. Is this news or the History Channel? Thumbs Down.
The title of this video … Economic Crisis ‘Didn’t Have To Be Like This’ … could have been … “Nothing Had To Be Like This”. Pretty much.