Pompeo repeats Chinese lab created coronavirus theory, but we may have to wait long time for proof, US jobless totals WORSE than Great Depression

Secretary of State Mike Pompeo has said Washington has “significant evidence” that the coronavirus originated in a laboratory in Wuhan, China. However, don’t expect to see proof any time soon.
Speaking at the State Department in Washington on Wednesday, Pompeo opened up his press conference with a broadside against Beijing. He repeated the accusations against the Chinese government of “covering up” the initial coronavirus outbreak in December, and of obstructing Western efforts to investigate the virus’ origin.

Though American and international intelligence agencies have not supported the theory that the virus originated at the Wuhan Institute of Virology – a lab that had been studying bat-borne coronaviruses in the years preceding the outbreak – Pompeo and his boss, President Donald Trump, have jumped on it. China called Washington's claims “groundless accusations.”

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By Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts, Amherst, and Visiting Professor in the Graduate Program in International Affairs of the New School University, NYC. Wolff’s weekly show, Economic Update, is syndicated on over 100 radio stations and goes to 55 million TV receivers via Free Speech TV and his two recent books with Democracy at Work are Understanding Marxism and Understanding Socialism both available at democracyatwork.info.

We are entering an even Greater Depression than the 1930s, with hundreds of millions thrown out of work across the world. Capitalism is a broken, unstable system that is beyond repair – but there are alternatives.
Ninety-one years after the start of the Great Depression (capitalism’s worst downturn until now), we are entering an even Greater Depression. The 1930s were so awful that leaders of capitalist economies ever since have said they had learned how to avoid any future depressions. All promised to take the steps needed to avoid them. Those promises have all been broken. Capitalism remains intrinsically unstable.

That instability is revealed in its recurring cycles, recessions, downturns, depressions, crashes, etc. They have plagued capitalism wherever it has settled in as the prevailing economic system. Now that the whole world’s prevailing economic system is capitalism, we suffer global instability. To date, capitalist instability has resisted every effort (monetary and fiscal policies, Keynesian economics, privatization, deregulation, etc.) to overcome or stop it. And now it is here yet again.

Across the world, hundreds of millions of workers are unemployed. The tools, equipment, and raw materials in their factories, offices and stores sit idle, gathering dust and rust. The goods and services they might have produced do not now emerge to help us through these awful times. Perishable plants and animals that cannot now be processed are destroyed even as scarcities multiply.

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TRUMP 2020