Fight Back! News

News and Views from the People's Struggle

Capitalism and Economy

By Masao Suzuki

San José, CA – On Thursday, September 3 the U.S. stock market took its biggest fall since in three months. The Dow Jones Industrial Average dropped more than 800 points, or almost 3%. The broader S&P 500 index fell more than 3%, while the tech heavy NASDAQ index fell almost 5%. All of these measures of the stock market had been at or near record highs until their share drop.

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By Masao Suzuki

San José, CA – On Thursday, August 27, the latest report on unemployment insurance shows that the U.S. economy remains stuck in the worst recession since the Great Depression of the 1930s. While new claims for regular state unemployment insurance benefits did drop to a little, over 1 million for the week ending August 22, the federal Pandemic Unemployment Assistance or PUA for gig workers and self-employed rose the same week. Together the two stayed the same as the week before, and slightly higher than two weeks ago. One million new applications for state unemployment insurance is five times the rate at beginning of the year.

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By Masao Suzuki

Stock market near record high

San José, CA – With the additional $600 in unemployment benefits gone along with federal eviction protection, President Trump announced that a deal to restore the benefits and protect renters and home buyers “is not going to happen.” With tens of millions of people getting government aid, tens of thousands of evictions underway, and record numbers of people short on food, Trump’s statement may seem so beyond uncaring as to be almost senseless.

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By staff

Protesters and banner that reads: Justice For Essential Workers at Strauss.

Franklin, WI – On the morning of August 7, a crowd of around 80 people marched outside a Strauss Brands meatpacking facility located in the small town of Franklin just south of Milwaukee. In the crowd were workers from United Food and Commercial Workers Local 1473 (UFCW 1473) and their families, and members of other unions and community groups; most visibly immigrant rights group Voces de la Frontera.

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By Masao Suzuki

Trump’s country club crowd applauds the move

San José, CA – On Saturday, August 8, President Trump signed four executive orders that he declared would “take care of, pretty much, the entire situation.” But jobless workers will get little or no help from the triple whammy of the COVID-19 pandemic, economic crisis and the recent loss of the additional $600 a week in unemployment benefits, known as the Federal Pandemic Unemployment Compensation, of FPUC.

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By Masao Suzuki

Trump’s country club crowd applauds the move

San José, CA – On Saturday, August 8, President Trump signed four executive orders that he declared would “take care of, pretty much, the entire situation.” But jobless workers will get little or no help from the triple whammy of the COVID-19 pandemic, economic crisis and the recent loss of the additional $600 a week in unemployment benefits, known as the Federal Pandemic Unemployment Compensation, of FPUC.

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By Kristin Ervin

photo of homemade protest sign: 100% online = 0% dead.

Tallahassee, FL – Around 50 people gathered outside of the Leon County School Board meeting on the afternoon of August 4. The group met in front of the building where the Leon County School Board was meeting to discuss the district’s plans to reopen schools for in-person lessons on August 31. This action came shortly after the community learned that the second of two staff members at a local school had died after contracting COVID-19.

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By Tom Burke

Stagehands pushing music road cases with signs reading Push for 600.

Grand Rapids, MI – Fifty union stagehands chanted, “$600 now!” while pushing music road cases thru downtown Grand Rapids. They began their push at the U.S. Federal Building to demand Senator Mitch McConnell and Senate Republicans pass the $600 workers need.

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By Masao Suzuki

San José, CA – In March and April of this year, more than 20 million jobs were lost because of the economic crisis, COVID-19 pandemic and stay-at-home orders to fight the virus. Millions more who were working gig jobs or had their own businesses lost their livelihood. At the time when the government count was done in mid-July, more than 30 million people – almost 20% of the workforce – were collecting some form of unemployment insurance benefits.

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By staff

San José, CA – Talks between Democrats and Republicans about extending economic aid remained deadlocked as of Thursday morning, August 6. In May, Democrats passed their HEROES act to extend the $600 additional unemployment benefit, known as FPUC, or Federal Pandemic Unemployment Compensation, as well as other economic aid for renters, state and local government, and others. But Republican senators and the Trump administration did nothing, hoping that the COVID-19 pandemic would go away, and the economy would recover in short order. The Republicans have also been hampered by divisions in the Senate, where a large minority don’t want to extend any more aid. The Trump administration had its own proposal for a payroll tax cut that the Republican-majority Senate rejected.

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