Love and Greed In the Time of Coronavirus

The tipping point finally arrived on Wednesday. It was the day most people realized that the coronavirus pandemic is not a minor, "this too shall pass" inconvenience, or the kind of economic downturn amenable to the usual massive government bailouts of the rich and the comfortable, and punishments for everyone else.

This time is different. It was only a couple of days ago that the rich were still smugly kvelling that yes indeed, they are different from you and me. That famous observation by F. Scott Fitzgerald and its retort, allegedly by Ernest Hemingway - "yes, they have more money!" - have not been viewed by the Ruling Class Racketeers as either a withering critique or joke. It was both a compliment and a badge of honor.

Even as the new plague was overspreading a woefully unprepared globe, Wall Street erupted with glee last week when Joe Biden crushed Bernie Sanders in Democratic primary elections. On the day after Super Tuesday, predatory insurance companies gained $48 billion in "market value."

Today, that same stock market effectively crashed as Donald Trump unilaterally banned airline travel from Europe to the United States.

If that wasn't bad enough, Hollywood megastar and Democratic Party donor Tom Hanks announced that he and his wife had contracted the coronavirus. Although one may assume that they have excellent private health insurance and a whole team of round the clock doctors and nurses catering to their every health care need, the news that the rich's bodies are not so different from yours and mine - that they are made up of the same immune systems, flesh and bone and tissue - is vying with news of rationed ventilators in Italy and toilet paper shortages everywhere.

The plague suddenly has gotten very real. Everything is being cancelled, from the basketball playoffs to the St. Patrick's Day parade in New York City, which actually threatens to be de-gentrified as the wealthy flee to their country homes and their yachts, much as the nobility fled the cities during the plagues of the Middle Ages.

To call these ripple or even domino effects is a bit bland. Wait until the Amazon fulfillment centers can no longer fulfill. Not only because their underpaid and overworked and uninsured workers get sick, but because the merchandise is no longer being delivered, let alone manufactured.

Maybe then they'll finally start calling it a plague.

As Albert Camus wrote in his famous novel of the same name (La Peste):

"Everybody knows that pestilences have a way of recurring in the world; yet somehow we find it hard to believe in ones that crash down on our heads from a blue sky. There have been as many plagues as wars in history; yet always plagues and wars take people equally by surprise....

"When a war breaks out, people say 'it's too stupid, it can't last long.' But though a war may well be 'too stupid,' that doesn't prevent it lasting. Stupidity has a knack for getting its way, as we should see if we were not so much wrapped up in ourselves."

The current plague will either be the end of globalized neoliberal capitalism, or it will be the toxic engine turning our carceral/surveillance oligarchic system into a full-fledged global totalitarian police state.

Meanwhile, Donald Trump's solution to the catastrophe - besides building both virtual and physical walls to keep the enemy immigrants and germs out - is to bail out his own hotel chain and to offer low interest loans to businesses. He also aims to stealthily destroy the Social Security trust fund by imposing a "temporary" payroll tax holiday.

For their own part, the congressional Democrats are offering insufficient increases in nutrition programs, mandatory sick days and expanded Medicare  for coronavirus, but not for other medical conditions. Think of the deliberately complicated paperwork and stress on an already over-stressed health care system. Think of the deliberate shortage of government bureaucrats necessary to handle the paperwork. "We meant well" will be repeated by the minute.

 To put the paltriness and the downright cynicism in perspective, the $250 million in additional funds they propose for Meals on Wheels tor the vulnerable elderly is less than half the amount that Michael Bloomberg just spent on his aborted presidential run.

Bernie Sanders has one last chance to make a moral case for his agenda when he debates Joe Biden in Arizona in D.C. this weekend. If we don't acknowledge that we're all in this together, we might as well start placing bets on what will kill us first: the coronavirus, or pathological neoliberal capitalism.

******

On to New York Times comments.

Paul Krugman is calling for a permanent stimulus package. Unfortunately, since he aimed his post at what he calls "a very wonky audience" and not normal people, it did not get the prominent placement in the regular opinion section or the audience it deserved. Perhaps if it had contained the requisite Bernie-bashing to accompany its dig at Joe Biden, it would have fared better in the product placement department. This one was a bit of an off-brand outlier, published when the Times was still publishing coronavirus updates next to a weirdly cheerful BP-ish avatar. He writes:

OK, if you’re still with me: I hereby propose that the next U.S. president and Congress move to permanently spend an additional 2 percent of GDP on public investment, broadly defined (infrastructure, for sure, but also things like R&D and child development) — and not pay for it.

Of course, Krugman waited until Bernie had been safely trounced by Biden to espouse what sounds awfully close to the anti-austerian Modern Monetary Theory championed by Sanders's economic adviser Stephanie Kelton and others, and which Krugman has previously derided.

My published comment:

If you're a normal human being reading this post, it makes perfect sense even if you don't understand the wonky charts and math. The message of a more humane and rational way of doing things still comes through.

 Trouble is, the politicians running the place are not normal human beings in that their fealty to the donor class of plutocrats has literally removed them from reality. The only norms they seem to care about are the rhetorical ones that Trump violates each and every day. It's that he is just so darned vulgar about trampling over the poor and working class.

 Never mind just him and a possible President Joe not welcoming Paul Krugman's suggestion for a permanent stimulus. House Speaker Nancy Pelosi invoked the spirit of her guru, the late billionaire austerian Pete Peterson when she successfully restored the "PayGo" rule last year. Only three of her Democratic members (including AOC) dissented from the requirement that all new deficit spending be offset by cuts to other programs. Exceptions would be made for emergencies like pandemics but of course then everything goes back to abnormal as soon as is inhumanely possible.

  You'd think, wouldn't you, that all the critics of single payer health care would finally realize that allowing 80 million people to remain underinsured or lack any coverage all is not only cruel to them but injurious to the economy. The louder the centrists shriek "but how you gonna pay for that" at presidential debates, the more abnormal they sound.

And here's my response to Krugman's subsequent column, on Trump's refusal to acknowledge that a pandemic even exists - all of a piece with the whole history of right-wing denialism. (Of course, the Democrats at least have the grace to admit when a problem exists before not solving it, for which we should be eternally grateful!) His column was written before Trump finally went on TV Wednesday night to struggle through a tortured teleprompter rendering of "if we think it, it will leave."

My published comment:

Not that I wish anybody ill, but you do have to acknowledge the serendipity of Trump being exposed by N degrees of separation to the coronavirus at CPAC. If that's not the height of irony in this age of willful reactionary ignorance, I don't know what is.

 It turns out that Republicans are a lot more fact-based than they want to admit, once they start quarantining their own depraved cowardly selves out of an abundance of self-protective caution and everybody else be damned.

Today it's Ted Cruz in Texas. Dare we hope that tomorrow it might be Trump in Mar-a-Lago? While he's resting up and luxuriating in a tubful of gallons of black market hand sanitizer, he might even be convinced (lulled? terrorized?) to sign legislation sending stimulus checks to every man, woman and child in America - if only as a blatant Hail Mary pass to stimulate his fevered base's enthusiasm for his increasingly fragile reelection campaign.

 But seriously, I can also foresee him cancelling the election entirely due to the state of emergency that he himself has exacerbated by dint of his own criminal narcissism. His pal Rudy Giuliani almost succeeded in cancelling the mayoral election after the 9/11 panic, after all.

As far as the "market" and investor anxiety over the plutonomy is concerned, pardon me if I don't feel as sympathetic as I probably should. If Wall Street finally stops profiting off pollution, wars, and the misery and preventable premature deaths of others - I say tough cookies.