Vince Dhimos answered a question at Quora.
HOW WILL THE US COME OUT OF THE COVID-19 CRISIS? CAN TRUMP GET THE ECONOMY BACK AND RUNNING IN FULL-FLEDGED [SIC]?
I had written a response that pretty much answers this question (see link below).
The expression “back and running” betrays a deep misunderstanding about the economy prior to the outbreak, which was not at all healthy by normal standards, despite the administration’s constant hype to the contrary.
Three items are ignored in the discussion, which is controlled by the US Establishment, a specialist in deception.
Here’s what you’re not supposed to know or even talk about:
1—One of the big pillars of the Trump economy was shale oil (and gas). This sector was never healthy. There were constant bankruptcies among shale producers even before the pandemic. Trump and other US politicians knew nothing about shale energy and thought that it could make America prosper, but it was trending in the opposite direction. Shale resources are a highly risky venture that has never been profitable, for two reasons: their production requires fracking, which adds an extra cost, and in addition, the well lives are extremely short requiring frequent drilling, which adds still more to the cost. Thus the break-even price per barrel ranges from at least $45–55, much higher than that of conventional wells of the Middle Eastern, North African and Russian type. Thus shale was doomed to fail from the start. The pandemic and the refusal of Russia to re-negotiate the production cuts mandated by OPEC (surreptitiously controlled in the background by Washington -- no, your financial pages didn't mention that) was the final nail in the coffin. There is no going back to that. The reason Russia, and later Saudi, refuse to continue the cuts stipulated in the expired agreement is that they saw as grossly unfair that Washington was demanding production cuts of the whole world but was refusing to cut its own production – precisely to prop up the unprofitable shale business. How could that be fair?
2—Trump had told Americans that the escalating stock prices were a signal of a booming economy. It was a lie. In fact this was a signal of a stock market bubble, which threatened to burst at any time – just like the stock bubble that burst in 1929, throwing the world economy into a tailspin. The bubble was caused in part by Big Business buying back its own stocks to keep up the pretence of profitability. The pandemic was the catalyst that started the process of popping the bubble.
3—The debt was already unwieldy, but the over-confident Fed and its captive journos kept telling the US people that debt doesn’t matter. This dubious proposition is based on a cockamamie untested theory called Modern Monetary Theory, which is being sress-tested by the pandemic, which in turn has prompted the Fed to issue another risky unpayable unbacked $3 trillion added to the already unpayable $22 trillion. Now the world will see whether debt matters or not for the US (see: https://www.quora.com/What-are-the-odds-of-hyperinflation-and-social-unrest-in-America-because-of-COVID-19/answer/Vince-Dhimos)
Yes, there are wars going on in Syria, Iraq. Libya and elsewhere, but the Western msm won't tell you the details because the truth spoils the US narrative. Al-Masdar and Souhtfront are some of the only sources. Naturally, Western media and social media are doing their best to censor and smear them. Ignore the background noise.
Heavy clashes breakout in northwest Hama as jihadists attack Syrian Army points
By News Desk -2020-05-120
BEIRUT, LEBANON (3:45 P.M.) – A series of clashes broke out on Tuesday when the jihadist rebels launched a new attack on the Syrian Arab Army’s (SAA) positions in the Al-Ghaab Plain region.
According to a field report from northwestern Syria, the jihadist rebels launched artillery shells towards the Syrian Arab Army’s defenses in the northern region of the Al-Ghaab Plain; this prompted the SAA to return fire.
The two sides reportedly exchanged machine and light gunfire, despite an ongoing ceasefire that was brokered by the Russian and Turkish authorities on March 5th in Moscow.
These latest clashes come a few days after the jihadist rebels of the Hurras Al-Deen group launched a powerful attack that killed over 30 Syrian Arab Army soldiers in the town of Al-Tanjara.
The jihadist assault on Al-Tanjara was the deadliest attack launched on the Syrian Army’s positions since the ceasefire was reached at the start of March.
Prior to the jihadist raid, the two sides only exchanged artillery and rocket fire, with most of these attacks taking place along the southern front-lines in Idlib.