00:18 GMT04 April 2020
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    Recession Looking Imminent as Coronavirus Fears Meet Oil Price War

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    Oil price war & Coronavirus force stock market stoppage; Booker & Harris endorse Biden; Unrest in Guyana as fraud allegations halt elections

    On this episode of By Any Means Necessary, hosts Sean Blackmon and Jacquie Luqman are joined by Dr. Jack Rasmus, economist, radio show host, & author of "The Scourge of Neoliberalism," to talk about the all-out price war hitting the oil markets, why the collapse of asset markets as the Coronavirus guts global demand has led us to this moment, why this news immediately sparked a selloff and likely means we're almost certainly in a global recession now, how the US fracking industry originally managed to upend traditional energy markets and how it may be affected now, why fracking companies overextended on junk bonds are likely to face extinction, why the decision to maintain low-interest rates means there's no longer any ammunition left in the Fed's holster and it will have to engage in further large-scale quantitative easing and tax cuts, how the overuse of those tools to fatten corporate profits means their efficacy has been severely reduced, why the impact of the Coronavirus pandemic will be felt most acutely by working people. 

    In the second segment, Jacquie and Sean are joined by Kamau Franklin, Founder and Board President of Community Movement Builders in Atlanta, to talk about the news that Kamala Harris and Cory Booker are endorsing Joe Biden for the Democratic Party presidential nominee, why the timing of the endorsement and the fact that Harris and Booker had previously condemned his segregationist policies implies a level of political opportunism, why those two candidates largely failed to attract substantial numbers of Black voters, why the Congressional Black Caucus' proximity to the halls of power precludes the group from being able to meaningfully and positively impact the Black community.

    In the third segment, Sean and Jacquie are joined by Jeb Sprague, a research associate at the University of Cali Riverside and author of “Globalizing the Caribbean: Political Economy, Social Change, and the Transnational Capitalist Class,” to talk about the news that the top court in Guyana has halted the release of its presidential election results amid fraud allegations, which regional dynamics play into Guyana's ongoing political instability, why the next political party to take charge of the country's bourgeois democracy is likely to control a serious windfall of oil profits from extraction by transnational companies like Exxon, and how NATO powers are exploiting the recent trend of integration of Global South economies into the global market to isolate, undermine, and destabilize Venezuela as well as its regional allies.

    Later in the show, Jacquie and Sean are joined by Ajamu Baraka, National Organizer for the Black Alliance for Peace, to talk about the new endorsements accrued by the Biden campaign over the weekend, why Elizabeth Warren may still be waiting in the wings as the Democratic establishment's Plan B if Joe Biden's glaring weaknesses are used to push him out of contention, why the Democratic establishment's suppression of the progressive factions of their base only ever seems to further inflame intraparty tensions, what the configuration of a 'New Left Front' with a critical approach towards the electoral process may look like, how the obsession with framing Trump as an existential threat to the US is being used to manufacture momentum for Joe Biden, whether Sanders' affirmation that he would support the Democratic nominee regardless of their identity was actually a smart political move, how the New McCarthyism which originally targeted Baraka's 2016 Green Party Vice Presidential run has seemingly gained a stranglehold over the US media landscape, whether perceptions that older Black voters don't understand the Sanders platform actually reflects pragmatism among those who don't believe white voters will ultimately vote for him, why approaching the Sanders campaign from a leftist perspective is so difficult because his campaign is full of contradictory positions for leftists, and why conservative successes in taking over state legislatures have left many cities at a permanent electoral damange.

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    Tags:
    coronavirus, China, Biden, Bernie Sanders, Elizabeth Warren
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