Coronavirus fear strikes back after a day of gains

San José, CA – On Thursday, March 5, the day after U.S. stocks soared on hopes that a Biden presidency would be better for Wall Street, economic worries about the new Coronavirus (COVID-19) drove down stocks again. The Dow Jones Industrial Average fell almost 1000 points, or 3.5%, with other averages falling a bit less. Interest rates on the ten-year U.S. Treasury Bonds fell to another record low of less than 0.92%, showing both fear among U.S. investors and expectations of weaker economic growth.

Minneapolis, MN – Freedom Road Socialist Organization’s Political Secretary Steff Yorek stated today, March 4, “As COVID-19 spreads here in the United States, the potential exists for the corporate health care system to be overwhelmed. American capitalism has developed a health care system that’s poorly equipped to do basic public health. There is no profit in disease prevention.”

San José, CA – On Tuesday, March 3, the U.S. central bank, the Federal Reserve, cut interest rates by one-half of one percent. This emergency action was taken between the regular Fed meetings every six weeks. This was the first time that the Fed had acted between meetings since the financial crisis in October of 2008.

St. Paul, MN – The Anti-War Committee is joining with the Climate Justice Committee to unwelcome Vice President Mike Pence when he comes to Saint Paul, 5 p.m., March 5, at the InterContinental Saint Paul Riverfront, 11 E Kellogg Boulevard.

Denver, CO – Denver Students for a Democratic Society hosted local Denver activist Shareef Aleem for an event about radical Black history in the U.S., Feb. 25, as a part of Black History Month. At the event, Aleem discussed the history of radical Black activism, as well as how Black art and culture has been seized and stolen for generations. Aleem, an activist for over 20 years, has been involved in numerous groups, particularly in the peace movement and in the movement for police accountability.

Minneapolis, MN – Over 40 people gathered March 1 to hear Brad Sigal and Sarah Martin talk about their experience at the third World Anti-Imperialist Congress in Venezuela. This Congress was attended by over 1500 delegates from 73 countries in January, included a delegation from Freedom Road Socialist Organization (FRSO). The delegates were able to bring their organizational and individual experience to Caracas to work with each other on resisting imperialism.

Los Angeles, CA – For nearly three years, activists have been trying to get Los Angeles District Attorney Jackie Lacey to open her doors to them. This morning, March 2, the front door to Lacey’s house was indeed opened, but with a gun pointed at the activists.

St. Louis Park, MN – Amy Klobuchar supporters couldn’t fill the gymnasium, March 1, at Saint Louis Park High School, even with the help of some 250 protesters demanding freedom for Myon Burrell, an innocent Black teen she sent to prison for life when she was the county district attorney. Myon Burrell’s family, the Racial Justice Network, Minneapolis NAACP, Black Lives Matter Twin Cities, Twin Cities Coalition for Justice for Jamar, Communities United Against Police Brutality, and Black Lives Matter Minnesota called for community members to mobilize to protest at the Klobuchar rally, two days before the primary vote. For more than a month, they’ve been calling on Klobuchar to drop out of the race. Hours after the protest, she announced she’s doing just that.

Minneapolis, MN – As COVID-19 spreads in the United States, the potential exists for the corporate health care system to be overwhelmed. American capitalism has developed a health care system well-equipped with fancy technologies and expensive medical devices, but poorly-equipped to do basic public health. There is no profit in the basics of health care and disease prevention.

_Trump administration tries to calm financial markets instead of preparing for outbreak _

San José, CA – By Friday, February 28, the U.S. stock markets had their worst week since the financial crisis in 2008. Stocks closed down 15% on average from their record highs just the week before. The Dow Jones Industrial Average had lost 1000 points during the day but ended down 350 points on hopes that the Federal Reserve would cut interest rates at their next meeting in mid-March.

Chicago, IL – In an attack on the human rights movement to stop police torture in Chicago, a Cook County judge ordered a torture survivor back to prison for life on February 14. In doing so, Judge Thomas Hennelly ignored irrefutable X-ray evidence of Gerald Reed’s torture at the hands of the infamous Jon Burge “midnight crew,” flouted the findings of the governor-appointed Torture Inquiry and Relief Commission – which affirmed Gerald’s claim of torture – and overturned the ruling of the judge formerly assigned to the case, who vacated Reed’s original conviction before retiring.

New York, NY – On February 27, around two dozen people filled Project Reach in Chinatown for the International League of Peoples’ Struggle (ILPS) study and discussion on sanctions and imperialism.

San José, CA – The weeklong fall in stock prices gathered speed on Thursday, February 27, as the Dow Jones Industrial Average fell almost 1200 points or 4.4%. The broader S&P 500 and the tech-heavy NASDAQ stock indices also fell by 4.4%. The total decline in stock prices has now topped 10%, putting the markets into a so-called ‘correction.’ For the S&P 500, the time from hitting a record high on February 19 to entering a correction on February 28 was the fastest on record, taking only six trading days.

Minneapolis, MN – On Friday, February 28, activists will be making noise on Twitter and other social media platforms to demand freedom for Myon Burrell and urging voters to reject Amy Klobuchar, who is responsible for his wrongful conviction. The Twitterstorm is being initiated by Twin Cities Coalition for Justice 4 Jamar (TCC4J) using the hashtags #FreeMyon and #NoAmyK to spread their message.

Milwaukee, WI – On February 25, workers at the Milwaukee Public Museum (MPM) packed the annual MPM Board of Directors meeting holding signs reading “Silenced” and “Not allowed to speak.”

Black students matter

Tampa, FL – On February 25, Tampa Bay Students for a Democratic Society (SDS) held a Black Students Matter rally on campus to bring attention to the racist admissions practices that the administration at the University of South Florida (USF) engages in.

Trump tweets while novel Coronavirus infections surge outside China

San José, CA – For a second day in a row, U.S. stock prices fell about 3% Tuesday, February 25. After a 1000-point drop on Monday, the Dow Jones Industrial Average fell almost 900 points, or more than 3%, while the broader S&P 500 fell 3%. Investors fled to buy bonds, pushing their prices up and their interest rate down to all-time record lows, with the ten-year U.S. government bond interest rate falling to 1.35%. Typically falling interest rates show fear of slower economic growth or even a recession ahead.

Fight Back News Service is circulating the following statement from the Twin Cities Coalition for Justice for Jamar (TCC4J).

To mark the Feb. 25, 1881 birthday of the outstanding trade union leader and communist William Z Foster, Fight Back News Service is circulating one of his early important writings. The Principles and Program of the Trade Union Educational League

Dow Jones Industrial Average falls More than 1000 points

San José, CA – U.S. stocks got a reality check on Monday, February 24, with the Dow falling more than 1000 points, or 3.5%. The NASDAQ index, with a heavy representation of technology company stocks, fell a bit more, while the broadest measure of the stock market, the S&P 500 fell a bit less.