On today's BradCast, it's concierge service from the Fed for Wall Street during the crisis, as American workers are left fighting for table scraps to stay alive. Again. [Audio link to full show is posted at end of summary.]

New weekly unemployment numbers out on Thursday from the U.S. Dept. of Labor suggest that while new jobless claims are beginning to slow, they are still coming in each week at all-time record numbers. Another 2.1 million Americans filed new claims last week, bringing the number of unemployed to Great Depression era levels of nearly 41 million Americans out of work. Another way to look at it is that a staggering one in four working Americans has filed for unemployment over the past 10 weeks since the COVID-19 crisis began in earnest in the U.S. Those official government numbers [PDF], however, are still lower than the real unemployment numbers, as millions are believed still stuck in line or having trouble getting through to still-overburdened state unemployment offices.

"A closer depiction of reality in the crisis," our guest DAVID DAYEN of The American Prospect, reports today, is a recent Census Bureau survey finding "that nearly half of all households have lost income" since the crisis struck in mid-March. At the very same time, however, as jobs are still disappearing and S&P 500 companies report an average 13% loss in profits during the first quarter of the year, the stock market has been soaring of late. Even with today's record jobless numbers, the market continued to rise (though it dropped a bit just before today's close) with the Dow up over 1,000 points in the past three days and the S&P 500 reporting record gains over the past month.

Another study cited by Dayen today comes from the Institute for Policy Studies, finding that "since March 18, as 100,000 died from COVID-19 and 40 million lost their jobs, billionaires in America have added $485 billion in wealth." Must be nice. So why is this happening? Why does the economy appear to be tanking everywhere except for on Wall Street?

Dayen, who, in his daily "Unsanitized" columns at The Prospect has been reporting for weeks on the "$4.5 trillion money cannon" unleashed by the Federal Reserve, with the approval of Congress in the CARES Act. He explains how that relief bill gave the go-ahead for the Fed to signal in late March, for the first time in history, that they will backstop corporate debt for huge companies. Without spending a dime, the signal the Fed gave on March 23rd is that investors didn't have to worry about about any risk associated with buying bonds from those companies. The Fed would back them up in the event the companies failed. So, as Dayen detailed this week, troubled firms like Carnival Cruise Lines, which is unable to make a penny now in the cruise line business, and Boeing, which was already in trouble before the coronavirus crisis began, are still raking in tens of millions (even billions) of dollars in the bargain. And, since the funding is coming from private equity firms and hedge funds (as guaranteed by the federal government), that "mothers milk", as Dayen describes it, is coming with no strings attached, unlike direct loans from the Government's CARES Act might have. That means, he says, that at least 49 major companies have brought in enormous sums of money during the crisis this way, even as they've laid off tens of thousands of workers at the very same time while using their windfall of cheap money to pay executive bonuses and purchase stock buybacks as working class American suffer in a way they haven't since the Great Depression.

"What idiot would send money to Carnival Cruise lines right now?," Dayen quips, before explaining how the Fed's announcement gave the go ahead to private equity firms to invest in the company anyway. "What they're saying is 'We're going to support the entire market'. ... They're essentially saying to investors, we will take care of you, we will do whatever it takes. The markets take that as a signal that they're going to be coddled, they're going to be protected, and that's all it takes."

This was all done with the approval of both parties in Congress, even as some Dems are now beginning to regret giving no-string attached approval to Donald Trump's Treasury Dept./Federal Reserve money cannon. "When you defer to the Fed as your main policy-making engine in the country, you're going to get disproportionate responses, because the Fed deals with banks and they deal with large corporations. And that's who is going to get the relief. Not the average person on the street."

"When ordinary people, 40 million strong, have to go on to the unemployment lines, they get limited, temporary relief that will probably go away very soon, and they struggle to obtain food and figure out how to maintain their shelter," Dayen explains. "The problem is not that large companies got a bailout from something that wasn't of their own making --- the coronavirus crisis --- the problem is that there's one system for elite investors and large corporations and one system for everybody else."

How long can this last? Dayen discusses that as well, as states and municipalities around the country are themselves facing massive revenue shortages and fiscal year budget deadlines by July 1 in many cases. Without Congress enacting another relief bill for those states and municipalities, critical local services will soon be slashed. Cops, firefighters, teachers, and even medical workers will be laid off amid the continuing global pandemic, gutting revenue to those states even further. Democrats in the House have already passed a $3 trillion bill to help out state and local governments. Republicans in the Senate, however, have said they are in no rush to take any further action for now.

We also discuss the unimaginable politicization of this pandemic, where even the idea that measures to keep Americans alive has now become a political hot potato just five months before the crucial November elections.

That unimaginable politicization is now on full display in Pennsylvania, where a Republican state lawmaker disclosed on Wednesday that he had tested positive for the coronavirus. While he had known for at least ten days, he told only his Republican colleagues in the House. Democrats were left in the dark, even as GOPers in the gerrymandered House demanded in-person committee hearings where Dems were unknowingly put in contact with colleagues who had been in contact with the infected Rep and didn't even bother to wear masks during hearings demanding the reopening of businesses in the state. One Democratic Representative from Philadelphia unleashed a tirade during a Facebook Live video Wednesday night (which we share on today's show), calling on the GOP Speaker of the House to resign and for the state Attorney General to consider prosecution of those members who endangered the others along with their families. All of which underscores, yet again, the importance of the upcoming election and the reckoning that should come with it.

To that end, we've got some good news out of the state of Wisconsin (for a change), where the bi-partisan state Election Commission voted unanimously on Wednesday to send absentee ballot applications to all of the Badger State's 2.7 million registered voters before the November election. That, in hopes of avoiding the nightmarish consequences of the state's April 7th primary when GOP state lawmakers refused to agree to the Democratic Governor's attempt to postpone the election or extend absentee balloting to keep residents safe during the crisis. So, will Donald Trump threaten to cut off funding to WI as he did last week when Michigan announced their intention to also sent absentee ballot applications to all registered voters? Stay tuned.

Finally, we're joined by Desi Doyen for our latest Green News Report with troubling predictions from NOAA for hurricane season; the plague of locusts spreading from Africa to India; New York and New Jersey reject a proposal for a new fracked-gas pipeline; and a new $14 million ad campaign ties Trump's deadly coronavirus denial to his long-standing deadly denial of our climate crisis...

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Remember waaay back on Monday when we warned you to take the news from biotech company Moderna about their self-proclaimed early success in tests of a coronavirus vaccine with a huge grain of salt? The announcement that spiked their stock price some 50% in one single day and resulted in a 900 point rally for the Dow? Well, the market is still enjoying its irrational exuberance, but Moderna's stock price is largely back to where it was before Monday's "science by press release". Not to be a party pooper before the Memorial Day weekend, but that seems an apt analog, somehow, for much of what we cover/warn about on today's BradCast. [Audio link to full show is at bottom of summary.]

Donald Trump and his Republican henchmen in Congress are running into a problem. Pretending the coronavirus crisis away only goes so far. Sure, you can announce that you have "reopened" for business, but that doesn't mean anybody will show up. Even with all 50 states now relaxing various restrictions, demand remains low and, therefore, unemployment remains high and is still getting higher each week.

New numbers from the U.S. Dept. of Labor report that 2.4 million Americans filed new unemployment claims last week. It is the ninth week in a row of new claims higher than 2 million --- some weeks were larger than 6 million --- even though the all-time weekly record, prior to COVID-19, was less than one million. Even during the 2008 Great Recession, initial claims for unemployment insurance never topped one million. The good news is the number of new filers has been decreasing in recent weeks. The bad news is that almost all of those people, nearly 40 million of them, remain out of work. For now, however, they have been able to rely on expanded benefits enacted by Congress that offer an additional $600 a week through the end of July. The program was designed to, yes, keep people at home in order to slow the spread of coronavirus.

Those payments have, by and large, prevented the U.S. economy from tanking entirely. And now, Republicans in Congress are insisting that they will not extend those benefits, as they join Trump in trying to convince themselves and the nation that the crisis is over. It isn't. Not by a long shot. Ending that expansion of unemployment right now in hopes of forcing workers back to their jobs --- where they may well get sick and die, just as had been happening before the shutdowns --- in hopes of restarting the economy, is likely to kill the economy entirely, according to economists, anyway. But what do they know? We discuss.

In lieu of an actual plan --- versus a Jedi Mind Trick --- to prevent a new rise in infections and deaths, Trump and his GOP pals seem prepared to hide the statistics and otherwise distract us with things like a new, wholly (and statutorily) unqualified Director of National Intelligence! Gutting a long-standing arms control deal with Russia! And trying to blame Obama for all sorts of imaginary scandals in hopes of harming presumptive Democratic Presidential nominee Joe Biden.

It shouldn't work. But, given our gullible corporate media, who knows? Satirist Randy Rainbow, however, has a new musical take on it all for us today.

While Republicans on Fox "News" are instructing their "patriotic" American cult members to get out there and get back to work, their star anchors continue to do so from the safety of their own home studios, where Fox Corp has directed them to remain for at least another month. YOU are supposed to die for the economy and the President's reelection! Not THEM!

And the irrational exuberant premature reopenings could well make a huge difference in the ultimate COVID-19 death toll, if a new study about the timing of the initial lockdowns from Columbia University disease modelers tells us anything. They find that a heart-breaking 36,000 fewer Americans would have died if the country had implemented stay-at-home restrictions just one week earlier in March. Moreover, the researchers found, had shutdowns occurred on March 1 the vast majority (83%) of deaths would have been avoided. Each single day that Trump and Governors around the country ignored or refused too take the crisis seriously resulted in the unnecessary loss of thousands of American lives.Depending on how quickly and/or irresponsibly states now lift restrictions, many more thousands of lives could be lost. Given the way a number of GOP-run states are now attempting to hide or censor infection and death rates, the cost could ultimately become unspeakable.

Another new study from the University of Wisconsin and Ball State University offers a real life example of all of this. The analysis found that last month's primary election in Wisconsin --- when the state's rightwing Supreme Court blocked attempts by Democratic Gov. Tony Evers to postpone the election or switch it to an all Vote-by-Mail election --- resulted in a "statistically and economically significant association between in-person voting and the spread of COVID-19 two to three weeks after the election." They found that WI counties "with higher levels of in-person voting per polling location led to increases in the weekly positive rate of COVID-19 tests. Furthermore, counties with higher absentee voting participation had lower rates of detecting COVID-19 two to three weeks after the election."

Yes, these decisions matter. Lives hang in the balance. No matter the Jedi Mind Trick Trump was hoping to pull off when he recently declared: "We're opening up; the states are opening up. It's a transition to greatness!" Perhaps "greatness" is now just another word for mass murder.

Finally today, a bit of email from a listener in the Badger State who now regards it as "Wississippi," and Desi Doyen joins us for our latest Green News Report, with ongoing climate disasters --- yes, our climate crisis continues even as the coronavirus has temporarily cleared the air a bit --- from the state of Michigan to the Bay of Bengal...

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P.S. By the way, we are ducking out early for some much needed Memorial Day weekend down time. Yes, my brain actually hurts each day these days. Hopefully a few days off will help. See ya on the other side! Stay safe and healthy until then!

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On today's BradCast: The number of lawsuits being filed by voters and voting rights advocates across the country is increasing with incredible speed as the coronavirus crisis continues and as we race toward the most critical Presidential election in the history of the nation on November 3rd. A new suit filed in federal court in Texas this week raises a very good and important challenge, arguing that the state (and 6 others with similarly restrictive state absentee voting laws) appears to be in strict violation of the U.S. Constitution. [Audio link to full show is posted below.]

But first, speaking of Texas, a new poll finds presumptive Democratic Party Presidential nominee Joe Biden now leading Donald Trump in the Lone Star state by 1 point. While that's within the poll's margin of error, that and other recent polls suggest Texas is most definitely in play this year for Democrats and underscores the importance of a number of lawsuits currently working through that state and other battlegrounds in hopes of ensuring that every legal voter who wishes to vote is able to do so (and without risking their lives in the bargain.)

Next, new weekly unemployment claim numbers from the U.S. Department of Labor today are bad. Really bad. All time record bad. Again. For the sixth week in a row. A staggering and unprecedented 30 million Americans have now filed new jobless claims over the past six weeks alone, with researchers finding that as many as 50% more have been unable to file a claim due to overloaded state agencies that are supposed to handle them. Moreover, according to figures released today from the Commerce Department, consumer spending plummeted 7.5% in March, the sharpest drop on record as the real Job Creators (that would be workers whose spending comprises 70% of the American economy!) have simply stopped spending as they were laid off or furloughed amid to the COVID-19 pandemic. That was in a month where only half of it was disrupted. April's numbers when available will likely be far worse.

And, with those numbers --- and still absolutely no plan to contain the virus at the federal level after all of these months and deaths --- Republicans are nonetheless attempting to fling open the doors to business, end stay-at-home requirements and social distancing measures across the country. But while the Republican propaganda hosts at Fox "News" tend to march in lock-step to encourage Americans (other than them) to stand up to restrictive measures meant to slow the spread of the virus, one host of Donald Trump's favorite morning show pushed back a bit today against her dangerously misinformed co-hosts.

Then, we're joined by Slate's ace legal reporter, MARK JOSEPH STERN, who has been focusing, of late, on the many voting rights battles now playing out across the country. He brings us up to date on a fascinating new federal lawsuit filed this week in Texas, charging that the state's law allowing no-excuse absentee voting for those aged 65 and older --- with severe restrictions on Vote-by-Mail balloting for anyone who is younger --- is in strict violation of the U.S. Constitution's 26th Amendment. Ratified in just 100 days in 1971, the Vietnam-era Amendment lowered the federal voting age from 21 while guaranteeing "The right of citizens of the United States, who are eighteen years of age or older, to vote shall not be denied or abridged."

The suit argues that the TX absentee voting law, in fact, does abridge that right. Stern also explains that similar state laws restricting the right to vote by mail based on age in Indiana, Louisiana, Mississippi, South Carolina, Tennessee and Kentucky do the exact same thing. The issue, which few have noticed following the ratification of the rarely-pondered 26th Amendment, is now more germane than ever given the deadly threat of the coronavirus to those required in such states to cast a ballot in-person at the polling place.

"Texas is one of seven states that grants special privileges to older voters," Stern says. "You are allowed to vote absentee if you qualify. But, to qualify, you have to either have a serious medical illness or be over the age of 65. If you are 64, you have no such luxury. You have to expose yourself to the coronavirus. If you are over a certain age, you get a privilege, and if you are under a certain age, you essentially get a burden. And that is exactly the kind of thing that the 26th Amendment was passed to try to abolish."

Though the Constitutional challenge is "a really cut-and-dry case" based on a very conservative, strict, textualist reading of the text of the "unambiguous" Amendment, defenders of the law in Texas (and elsewhere) may have a difficult time doing so without undermining their own defenses of the 2nd Amendment at the same time, as I discuss Stern.

But, while that federal complaint moves forward --- and faces anticipated procedural roadblocks to run out the clock from the very rightwing 5th U.S. Circuit Court of Appeal in Texas (featuring what Stern describes as "some of the worst, most outwardly-partisan, hackish, nihilistic judges that this country has ever seen in its entire history sitting on that bench") and the stolen Republican majority on the U.S. Supreme Court --- voting rights champions have begun to open up another avenue in hopes of guaranteeing voting rights for all and saving the 2020 election: legal challenges in state courts based on the many state Constitutions which expressly guarantee "free and fair" elections.

If the stolen GOP majority on the U.S. Supreme Court is going to continue their open hostility toward voting rights that they've displayed since the gutting of the Voting Rights Act in 2013, challenges at the state Constitutional level could prove to be very fruitful, says Stern. "Voting rights advocates are marching into state courts and saying, 'Look, this election cannot be free and fair if people have to make the choice between risking their lives and exercising their Constitutional rights."

Finally, Desi Doyen joins us with the latest Green News Report with the usual number of disturbing developments, but also a surprise happy ending today courtesy of the U.S. Supreme Court! Yes, that U.S. Supreme Court!...

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On today's BradCast: Yes, it is as bad as we warned it would be. And it is getting even worse. And the way some state officials are now behaving, even upcoming elections may be unable to reverse much of this madness. [Audio link to full program is posted at end of summary.]

On Thursday, the U.S. Labor Department released gobsmacking statistics revealing that a record 6.6 million Americans filed for unemployment benefits in the past week. That follows more than 3 million doing so the week before. Both weeks blow to smithereens the previous all-time record high for weekly jobless claims since such records have been kept. That numbers was of 695,000, as set in 1982. We are quickly blowing past the disastrous economic tailspin of the 2008 Great Recession and moving into Great Depression territory.

In response, House Dems are attempting to move to another relief bill, in the form of a $2 trillion infrastructure plan to follow up last week's $2.2 trillion stimulus/corporate bailout bill. But Republican Senate Majority Leader Mitch McConnell is, so far, rejecting Democratic House Speaker Nancy Pelosi's proposal to do so, while telling her to "stand down" as the GOP does nothing instead. That, as NBC News reports today that Americans may be waiting as long as five months for the paltry $1,200 check promised them by last week's emergency relief bill.

But, of course, Congressional Republicans aren't doing absolutely nothing. McConnell has vowed to continuing packing the federal courts with unqualified judges, even among this disaster. And several GOP members of the House and Senate are proposing a bill to punish those who disseminated false information about coronavirus or who profited from it --- so long as those people are from other countries. Luckily, Donald Trump's months of repeated and purposeful and deadly disinformation that he and his Administration fed to the American people about the pandemic is all cool! So, apparently, are any U.S. Senators who may have profited from early information about the virus by trading millions of dollars of stock based on insider information, including Senators Richard Burr (R-NC) and Kelly Loeffler (R-GA). Presumably, they will not be held to account by the GOP's proposal to punish anyone who "financially benefits from acts intended to deliberately conceal or distort information about a public health emergency of international concern."

In the House, at the same time, Pelosi has announced the formation of a new bipartisan Select Committee to oversee the Trump Administration's response to the pandemic and its use of the $2 trillion allocated by last week's relief package. The committee, she says, will have subpoena power. So, if there are any questions the panel may have for members of the Administration dolling out that record amount of tax payer funds, we're certain that all of the President's men will undoubtedly respect any lawful Congressional subpoena they may receive.

Meanwhile, we continue to keep our eyes on how to help to begin to end many of these ongoing nightmares, somehow, via the ballot box. Toward that end, the Democratic National Committee announced they are postponing their national nominating convention, previously scheduled for Milwaukee, Wisconsin in July, back to August instead, in hopes that it will be possible to gather in person by that time (it likely will not be.) It would be held the week before Republicans plan to hold theirs in Charlotte, North Carolina, which Trump has vowed to hold with delegates gathered in person in the final week of August.

But, we're still in utter disbelief that Wisconsin is actually --- seriously --- going to hold their Presidential Primary, statewide Supreme Court election and municipal contests NEXT TUESDAY on April 7, despite, as we noted yesterday, the ongoing unprecedented health emergency, statewide stay-at-home order, and "a massive shortage of poll workers across the state, with more than 100 communities having no poll workers at all as of [this past Tuesday, and] an overall shortage of some 7,000 workers in 60% of the state's municipalities."

As we reported Wednesday, the only thing set to stop this madness with both the state's Democratic Governor and Republican heads of the state House and Senate also on board, is a federal lawsuit filed by voting rights advocates. Well, U.S. District Judge Mark M. Conley issued his ruling on Thursday, declining to postpone the election, while making clear that though he disagrees with the state's decision to move forward, he does not have the authority to postpone it due to a health emergency in which, he suggested correctly, residents could die. "That may be something that happens," he said during closing arguments, adding "that would be outside my jurisdiction. But it will be on the hands of the legislature and the governor."

Yes, it will. Judge Conley did, however, extend a few deadlines for absentee balloting, which has also reportedly already overwhelmed local elections officials who are having trouble keeping up with incoming ballots as well as sending out a record number of requested ballots. The Wisconsin Election Commission has already stated that it is very likely, barring a legislative change by the Republican-controlled legislature, that many votes will not be able to be counted at all in time for the state's statutory deadline. Republicans appear to be very happy about that. Conley suggested he may rule again, if voting rights are seen as imperiled on Election Day.

Finally, Desi Doyen joins us for our latest Green News Report, with the U.N. cancelling its critical upcoming climate conference due to the corona virus pandemic; a bankrupt U.S. coal company attempting to pass its obligations to retired miners over to tax payers instead; several states use the COVID-19 crisis as an excuse to pass laws criminalizing pipeline protests; and Trump's Interior Dept. keeps national parks open despite worker illnesses and their pleas to close the parks in the name of public safety...

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On today's BradCast: If there's anything the Trump Administration excels at, it's their reverse Robin Hood penchant of taking from the poor to give to the rich. But their new wage theft plan for workers in the restaurant industry may bring that penchant to new heights --- or depths, as the case may be. [Audio link to show follows below.]

But first up, and very much related, Trump's new $4.4 trillion budget proposal, released on Monday, calls for moving still more money from the poor to the rich --- on the heels of last year's unpaid-for $1.5 trillion tax scam --- with cuts to domestic programs, more obscene increases to our national war budget, and trillion dollar deficit spending as far as the eye can see. And all of that is separate from his Department of Labor's plan to steal tips off the tables of waiters and waitresses. Yes, literally!

We break down Trump's dead-on-arrival proposal for his 2019 budget, which doubles the deficit spending called for by his dead-on-arrival 2018 budget. The scheme, described Sen. Bernie Sanders (I-VT) as "morally bankrupt", also includes what he and corporate media (inaccurately) have been referring to as a $1.5 trillion Infrastructure Plan to rebuild the nation's roads, bridges, airports and much more. That scheme would actually invest just $200 billion in federal money, with the rest being paid for, in theory, by cash-strapped states and wealthy private corporations --- even as the $200 billion in proposed federal spending actually comes by way of cuts to the Dept. of Transportation and EPA. In other words, as we detail today, his $1.5 trillion infrastructure program, is really a $0 infrastructure program, in which we sell off our national assets to private companies. Other than that, it sounds great!

Then, speaking of Trump scams, we're joined by President Obama's former chief economist at the Department of Labor, HEIDI SHIERHOLZ, now Senior Economist and Director of Policy at the Economic Policy Institute, to discuss the Trump Dept. of Labor's new plan to steal tips earned by service professionals and give it to restaurant owners instead. No, really.

"There is long-standing practice by the DOL that interpreted tips as belonging to the workers who earned them. That was codified in a 2011 rule, that just said very clearly, 'Employers, you can't take tips, they belong to the workers who earned them." What this proposed rule does is it just rescinds those regulations --- it says employers can do whatever they want with worker's tips, as long as they pay workers minimum wage," Shierholz tells me. "This has been a dream of the National Restaurant Association, which is the big industry group for restaurants forever. [Trump's DoL] cared so much about giving a big gift to the National Restaurant Association, that they were willing to propose a rule that would literally shift billions of dollars from workers to employers."

And, as if that's not outrageous enough, as Bloomberg Law revealed earlier this month, it turns out the DoL, when asking for Public Comment on this new rule, withheld their own agency's analysis, finding the new scheme would transfer billions of dollars from wait staff to the restaurant owners themselves, who'd get to keep anything earned above the federal hourly minimum wage of $7.35 hour! Shierholz details how the Department is hoping to scam the public by not including their own analysis of the cost of this new rule, even as her own organization's analysis estimates that the new regulation, allowing owners to keep tip money, could transfer nearly $6 billion annually await from wait staff, and potentially as much as $13 billion each year.

"But this is the key: there are rules that they have to follow as a part of the rule-making process, and it includes, very clearly, that they have to do a very comprehensive cost-benefit analysis. They have to estimate the impacts of the rule on workers. We now know that they did do that. But it looked really bad, and so they tried to bury it."

Yup. Prepare yourself to pay up once again to defend still more lawsuits filed against this lawless Administration.

We also discuss how this rule, if finalized, will adversely affect women in particular, who stand to lose $4.6 billion of the $5.8 taken from tipped workers each year. "The fact they are forging ahead with this, despite knowing how bad it is for workers, really is primarily about their far greater interest in supporting corporate interests over those of workers. The fact that it's massively, disproportionately going to affect women may be sort of a bonus," Shierholz quips.

Finally, with the unthinkable possibility of peace between North and South Korea breaking out over the weekend during the Winter Olympics in PyeongChang --- despite the Trump Administration's determined hopes for a new, potentially nuclear war on the Korean Peninsula --- deadly new military skirmishes broke out between Israel, Iran and Syria over the weekend. So, just in case you're worried that all of Trump's new U.S. military spending would go for naught, don't worry! We'll always find new wars on which to spend it...while your kids can't pay for college, you can't afford medical care and the Trump Administration is stealing tips off the table.

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