A big debate in the mainstream media during the recent election was why do surveys show average American voters don’t believe the economy is doing as great as government data indicate? More specifically, why do they believe inflation is higher than reported by the Consumer Price Index? Today’s Alternative Visions show takes on that issue: why prices are higher than government price indexes report. Latest CPI report this past week said prices rose only 2.6% over the past year. (The companion government PCE report is even lower).  What the media doesn’t report, however, is the various assumptions and questionable methodologies the government uses in estimating prices and inflation. Today’s show explains briefly 14 of them. Inflation is easily therefore not 2.6% but more than 4% in general. In some areas of the economy rose at double digit levels the past year. And since 2019 around 30-35%. The show concludes with evidence even prices per the government indexes are creeping back up. And several forces threaten in 2025 to escalate the rate of inflation as well (for gasoline, insurances, imports, child care and other services).

Today’s show topic is an assessment of the November 6 election and why Trump won. What were some interesting facts about both the electoral college vote outcome and the national popular vote totals that the mainstream media is ignoring? What new strategies Trump introduced that may have made a difference vs. old strategies Harris carried out that no longer resonate with voters>? Is there a political party realignment that is now beginning? Is Identity politics now DOA? The show concludes with some early predictions what Trump will focus on first after January 20. Why Austerity big social program spending cuts are coming. How will Trump handle the rise of the BRICS? (For my latest written article on the same topics go to https://jackrasmus.com/2024/11/08/why-trump-won-and-some-consequences/ ) Or to the LA Progressive blog for November 8.

the latest US Labor Dept jobs out today show a rapidly deteriorating jobs market. Not just in the media oft-cited CES (large corporations) jobs data but in the Labor Dept’s second CPS survey that picks up smaller businesses which is retreating even faster.  CES jobs for October rose a mere 12,000. (And previous months were revised down to an average jobs growth of only 67,000/mo. July-Sept. Even worse, the CPS jobs survey showed -220,000 net employment fall in October. Full time jobs continued to disappear while part time rose. Other negative job stats were discussed in the show. Slowing jobs picture contradicts media hype the economy was doing great in third quarter. The second half of the show discusses the 3 existential issues in the current US election being totally ignored by both Harris and Trump: the massive and accelerating US budget deficits, national debt and interest payments on the debt, the big Austerity spending cuts coming in 2025 regardless who wins the election, and the BRICS challenge to the very foundations of the US global economy empire that is developing further as well with 13 new BRICS members joining the current 10. (For more on my analysis of the BRICS check out my Youtube interview along with Indian economist, S.L.Kanthan, at https://www.youtube.com/live/veY2FoKsyuY )

Today’s show is dedicated to this past week’s historic BRICS conference in Kazan, Russia and how it represents the most serious challenge underway to US Global Economic hegemony. What are the key institutions of US global economic power? How do the BRICS alternative economic infrastructure challenge the dominance of the key US institutions and vehicles of US power: the IMF, World Bank, SWIFT, the $dollar, the twin deficits solution to recycling dollars, etc. A history of the origins and causes of the rise of the BRICS are discussed today. And how the BRICS are an existential challenge to US global economic dominance. For more on this topic, join the discussion on the same with myself and India economist, S.L. Kanthan, this coming Sunday, October 27, at 9am pacific time at: https://www.youtube.com/live/veY2FoKsyuY?si=4lEsQnyhDtzd215u

Last Wednesday October 17 Ukraine’s de facto president, Zelensky, gave a speech to his Parliament explaining his 5 point Plan for victory in Ukraine’s war with Russia. It wasn’t a military roadmap but a political list of demands on the US and NATO. He had previously presented the plan to Biden and other head of Europe NATO countries who had clearly pre-vetted the presentation, including no doubt the 3 additional points in the Plan to the 5 announced. Today’s show discusses the 5 points announced, and suggests what the ‘secret’ (Zelensky’s words) 3 additional might have included. Following his speech to Ukraine’s Parliament, Zelensky gave it again to NATO representatives in Brussels. Then gave a press interview in which he admitted the ‘plan’ was essentially to bring NATO quickly into Ukraine, or else—as Zelensky told the press—Ukraine would be a nuclear weapon. A double blackmail of NATO and Russia. For more details and discussion of the consequences, listen to my Friday, October 19 show.

Today’s show focuses on upcoming November election. The status in the swing states is reviewed. How the candidates stand on the two key issues in the election per polls: Economy and Decline of Democracy in USA. Trump v. Harris proposals on issues appealing to working class voters in the key 3 northern swing states: taxes on tips, overtime pay, social security income, SALT, interest tax deductions on auto loans. The real condition of inflation since 2019. Conflicting stats on real wages and take home pay. The Labor Dept latest jobs report. The silent issue neither candidate is talking about: runaway deficits and national debt and nearly $1 trillion/yr interest payments on the debt now. Why whoever wins in November will propose severe Austerity programs. How the BRICS expansion and new financial world system represents an existential threat to US global economic hegemony and empire and how it will blowback on US economy. Show concludes with discussion how both parties are engaged in destruction of US democracy.

Why did ILA union leaders suspend their strike after just 3 days? Some reasons you won’t read in the mainstream media. The Union was in a very strong position to gain its demands, the most important being wage catch up and Artificial Intelligence threat to automate away jobs. After just 3 days the shippers also agreed to union’s demand for 62% wage hike (over 6 yrs.). Why so quickly as well? My Answer: Biden administration behind the scenes warned the ILA it would implement the Taft-Hartley law to force workers back for another 80 days if the union did not go back to work.  This was the Biden ‘carrot’ to the ‘stick’ threat of Taft Hartlely. Shippers could easily afford the wage increase but want AI-automation more for long run profits. Now ILA union will resume negotiations in January 15 on the job security AI-automation issue, but without its current bargaining leverage of pre-election and holiday season strike. Second half of show addresses the Sept. jobs numbers explaining why 254k Sept new jobs vs. August’s 128k. Media confused as to the change. Listen to my simple explanation for the Aug v. Sept difference

 today’s show addresses #1 issue in polls that US economy remains the key issue in the Nov 2024 elections with voter concern for inflation remaining at the core. Harris says inflation has ‘come down’ & Trump says prices remain unaffordable. Which is true? Both. The show reviews the current high plateaued level of prices, including housing, rents, gasoline, food, autos and insurances, between 25%-35% above 2019 depending on sources. The candidates ‘dueling tax’ cut promises are compared and the condition of 120m households’ debt now at record levels (mortgage, credit card, autos, student loans) with delinquencies beginning to appear. Ability of consumers to continue spending given minimal real wage raises, rising debt & declining household savings rate, rising poverty rate and 40% increase of use of food banks since 2022. Unemployment at 8% (not 4.3%) per govt’s U-6 statistic. The show concludes with discussion of recent Zelensky-Biden meeting and US media-elite criticism of Zelensky’s ‘Victory Plan’

Today’s show covers what’s behind Fed’s .50 pt rate cut? Powell says Fed because ‘economy is good’. More likely because US goods sector economy weak. Data shows US goods sector in recession. Fed GDP forecast for 3rd quarter 1.7%, closer to 1st quarter’s 1.4% not 2nd’s 2.8%. Why massive US deficits & debt will mean big austerity spending cuts in 2025 further deepening recession. Wars update: the Mossad ‘pager’ sabotage event and almost certain war against Hezbollah in north within weeks. Netanyahu’s strategy: get US in war with Iran. Zelensky’s pending ‘victory plan’ & political maneuvering behind allowing UK missiles to attack deep into Russia. Pentagon vs Neocons & why Biden delayed decision until 9-26. The EU’s desperate ‘plan B’ to fund Ukraine. Why it won’t work any more than ‘Plan A’.

first half of today’s show discusses the ominous escalation in the Ukraine war with US/UK approval for Ukraine to use US/UK long range missiles to target deep into Russia. Putin’s ominous warning of ‘war with NATO’. What happened to Zelensky’s ‘Victory Plan’? How Ukraine has been sabotaging efforts by BRICS to arrange negotiations. What’s happening on the Kursk and Donbass fronts in Ukraine. Political instability growing within NATO ranks (Germany, France, USA). Is Biden or the neocons now running the US govt? Why 32,000 Boeing workers rejected the pattern contract proposal. My review of the recent Trump-Harris presidential debate. Why neither candidate addressed the #1 issue of the economy according to polls. What was covered and not addressed in the debate. (For detailed print analysis read my article ‘The 2nd First Presidential Debate’ on my blog, http://jackrasmus.com (or on Counterpunch, LA Progressive, Z, or World Financial Review public blogs).

today’s show focuses on the condition of the US working class in terms of wages, jobs, debt, and unions as of labor day 2024 today. Citing various US government data sources, and contrary to the selective cherry picked stats that appear in the US mainstream media and cited by politicians, the picture for US workers today in terms of wages, jobs, debt and their unions show continued stagnation or decline over the past year, and especially since 2020.  Even based on US government data sources, US economic GDP since 2021 has been weak given the $10 trillion plus fiscal-monetary stimulus since 2020. Workers’ wages continue to contract in real terms given the period of inflation. The jobs created have been far less than the Biden administration has claimed. And US unions continue to tread water in terms of membership. (For a published print version of this analysis, those interested may read the same analysis at my personal blog at https://jackrasmus.com/2024/09/02/labor-day-2024-the-condition-of-the-american-working-class-today/