Haywire: Is the U.S. Running off the Rails?

Dr. Tassos Symeonides
(RIEAS Academic Advisor)

Copyright: Research Institute for European and American Studies (www.rieas.gr) Publication date: 8 August 2020

Note: The article reflects the opinion of the author and not necessarily the views of the Research Institute for European and American Studies (RIEAS)

With every passing day, the United States resembles a majestic airliner rapidly descending toward disaster because of catastrophic engine failure.
The simile is apt if one takes one very brief look at the news:

 The US economy is tanking at an alarming rate: it shrunk at a 32.9% annual rate between April and June, the deepest decline since the U.S. government began keeping records in 1947.

 Pandemic-related job losses were unprecedented in magnitude and speed. “Unemployment has never been this high -- nor had it increased by so much, so rapidly -- since the Current Population Survey (CPS) began collecting unemployment data in 1947.” ...Read more