. Hey! Thanks a lot for your comments! Keep up the good work.
Textbook.
6.5 lookback page 78
7.1 Happy Ending? pages 80 and 81
Blog.
Work on an excerpt (20:20- 23:35) from an interview with economist Jeffrey Sachs. I’m posting the transcript to this section in the comments.
1. Listen to the excerpt while you read the transcript. Do it again and try listening and repeating simultaneously this time. Pretend you are Jeffrey Sachs.
2. Select C1 combos and jot them down.
3. Play the first question Mehdi Hasan asks and listen to Jeffrey Sachs answer. Stop the recording and improvise an answer using the lexical gold you dug.
4. Do the same with the rest of the questions.
5. Repeat 3 and 4 without resorting to the transcript.
https://theintercept.com/2020/03/12/capitalism-vs-the-coronavirus/
Work on an excerpt (7:22- 11:56) from an interview with economist congresswoman Alexandria Ocasión-Cortez and professor Stephanie Keaton I’m posting the transcript to this section in the comments.
https://theintercept.com/2020/03/20/deconstructed-podcast-alexandria-ocasio-cortez-coronavirus-economy/
Same deal
Stay put!
20 comments:
Jeffrey Sachs
MH: Just shifting gear, but sticking with the economy, I also hear people, everyone from the Trump administration to the CDC, to Barack Obama on Twitter saying, “If you feel sick, if you think you’re infected, stay home, don’t go to work” which is easy to say if you can afford it. But in a country like the U.S. one of the only industrialized countries on earth, which doesn’t guarantee paid sick leave, a lot of people can’t afford to just stay home. So they’re going to go to work out of necessity, and then spread the virus.
JS: But even staying home requires access to medicines, to social support systems, to food deliveries, to testing —
MH: None of which has been thought through.
JS: None of that is in place because we don’t have such support systems in this country.
MH: Every man for himself, fend for yourselves.
JS: Well, this is the tragedy.
MH: In your CNN online piece headlined “The Trump administration’s ludicrous approach to coronavirus vaccine,” you discuss and you mentioned them at the top Health and Human Services Secretary Alex Azar and his statement recently, not just about kind of let the markets do their thing. He said:
Alex Azar: Frankly, this has such global attention right now and the private market players, major pharmaceutical players, as you’ve heard, are engaged in this. The market here we believe will actually sort that out in terms of demand, purchasing, stocking, etc. We’ll work on that to make sure that we’re able to accelerate vaccines as well as therapeutic research and development.
MH: Can you translate what he’s saying? What on earth is he trying to say there?
JS: Well, it’s like a Saturday Night Live opening. You would think that it’s a spoof. I had to read that several times to believe it. What he is saying is that as usual, our government through a wonderful institution, the National Institutes of Health, will promote scientific discovery, will spend money on the vaccine as it should. But then whatever is learned will be handed over to private companies. And they will develop a vaccine and then charge what they want because that’s the American system. So he was asked in Congress, specifically, “Mr. Secretary, could you guarantee that a vaccine would be affordable?” And he said, “No, I can’t, because the market will determine the price of the vaccine.”
MH: Even in a pandemic?
JS: In a pandemic, and in a case explicitly where the research and development is being funded by the US government. It shows —
MH: Socialism for the rich as you quoted Bernie saying, and Azar of course, surprise, surprise, breaking news is a former drug industry lobbyist.
JS: This is exactly his job and is exactly his job qualification. That’s why he has this job. All across our government, Trump has put literally lobbyists, you don’t have to lobby anymore. They’re in the position itself.
[Music interlude.]
MH: I’m joined on the show to discuss all of this and more with two of the most brilliant, outspoken and progressive women in American public life right now: Stephanie Kelton is an economist and a professor at Stony Brook University, a former adviser to Bernie Sanders and a leading advocate of Modern Monetary Theory or MMT. She’s also the author of the forthcoming book, “The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy.”
Congresswoman Alexandria Ocasio-Cortez has represented New York’s 14th congressional district since her shock election in 2018 and, with the exception of Bernie Sanders, is probably the most famous socialist in America today. She’s also a member of, right now, the hugely influential House Financial Services Committee.
Thank you both for joining me on the show. Congresswoman, I know you’re short on time, so let me kick off with you and get straight into it. How bad is the economic crisis we’re facing right now? And how big, how radical does the response from Congress need to be?
AOC: I think that, you know, truly, it’s very important and it’s quite difficult to understand the scale and the lack of precedents that the sheer public health and economic shock that we’re experiencing right now. This is unlike 2008. This is unlike almost any other shock that we have seen in how quickly everything has ground to a halt, not just in the stock market but in everyday lives. And I truly do not believe that there is an action we can consider right now that is too small. I certainly have not seen any proposal that I would say is too large for us to be considering right now.
MH: And what kind of calls are you getting from constituents? What are they going through?
AOC: It’s everything and anything. I think what’s very important for us to realize in this moment is that what coronavirus has essentially done at least in the United States and in my district, is that it has taken all of these slow moving crises that we have already been experiencing in the United States and basically pressed fast forward on every single one. So housing insecurities have now been exacerbated. People don’t know if they’re going to be able to afford their rent this month. And even before the virus hit, 40% of Americans had less than $400 saved for an emergency. So my constituents are talking to me about how am I going to afford rent? Will I be evicted? If I go to the hospital, if I get sick, how much, is this going to cost me $10,000? And because we don’t have single payer health care, because we don’t pay a living wage, because we haven’t been investing in our health care infrastructure, because we haven’t been educating people to the level and allowing people to have access to an education, all of these things are coming to a head in this very moment.
MH: Stephanie Kelton, I believe you’ve been in conversation with senior Democrats in the Senate this week. Do you get a sense that they get A, the urgency of responding ASAP, and B, the scale of the response, how big it needs to be?
SK: Ah, well, I definitely get the impression that they understand the urgency, that seems very clear. On the scale, you know, I think that what’s happening is that people are looking back at the last crisis, at the financial crisis, and sort of coming away with this idea that we need to avoid repeating the mistakes of the past which is true, of course, but what I think that I’m a little concerned that the lesson that they appear to be drawing is that it’s really important to get the number right, that we don’t do something that’s too small for the moment, because you only get one chance at this thing. Because last time, you know, we got the 787 billion and then when it became clear that that was insufficient, there was just no appetite to go back and do more when it was urgently needed. And I’m trying to, the advice that I’m giving is, you know, don’t get into that mindset that you get one shot at this. And if you get it wrong, that’s the end of it. You just have to pay the price I’m urging them to, you know, do the legislation, the best piece of legislation they can now but be prepared, be steadfast in your commitment to do whatever it takes. And when it becomes clear and it will that a trillion dollars is insufficient, we have to be prepared to go back and do more.
Hi mates! My thoughts about not having a 2ºweekC.1.2 homework have lasted for the wink of an eye. But I´m really looking forward to searching combos and jot them down on my notebook!!!!! I´m not kidding!!!!! Be safe and fun!!!!!!!
I´m Rafa again, not that unknown!!!!!! But who knows? better being unknown than known!!!! jjjjeeje
From the same webpage, it´s very interesting on the current situation!
https://theintercept.com/2020/03/19/organizer-mariame-kaba-we-need-a-peoples-bailout-to-confront-coronavirus/
Thank you Rafa.
Fortunately we have to repeat simultaneously Jeffrey Sachs answers...no way to do so with Mehdi Hasan questions...
Hi everyone!!!!
Only a naive question What does the "k" on the expression "adults earning up to 75k a year" mean?
What´s the matter? Each one has his own questions!!!!! jjjjjj
How do you manage to keep your heads above the water during these confinement days?
Surfing the net I´ve found a luminous webpage, Edge.org, in which you can read to intelectuals and professionals expressing their brilliant ideas answering a question. Each year there is a big question and the answers are compiled in a book.
Take a look!
Yeah, Lola. Mehdi Hasan could have been the guy in that good old 80’s micro machines tv commercial.
75k means 75000, Rafa. Regarding coping mechanisms, I’m personally trying to exercise daily and eat rather healthily although I’m sloshing a fair bit of commotion lotion at the weekend but I guess that s fair enough all thing considered. I’m using these two channels in case you’re interested.
https://www.youtube.com/watch?v=gIdAPUA3GY4
https://www.youtube.com/watch?v=aCa8R9II8F0
How are you lot coping?
I’ve just checked out a couple of vids on that website you recommended. Thanks for sharing, Rafa.
Hahahaha you are right Nacho, I remember that tv commercial.
Talking about coping with this confinement, I also try to exercise daily and thanks to Rafa's suggestion I've watched a couple of operas on the Metropolitan Opera House NY website.
Now it's my turn to enquire:
Nacho, as far as I know commotion lotion is an alcoholic drink but I have never seen matched with that verb...
Does it mean that you treat yourself on the weekends?
Interesting videos to practicing English, but I´m not up to them now, jjjjjjj To old to have this spartan routine, I´d rather run although with this confinament it´s imposible, I don´t have a terrace in my humble flat!!!! By the way, a "k" means thousand then.
Anyway, is commotion lotion kind of a beer? If that is, better drinking than high-intensity fitting sessions to rise up your calorie-burning metabolism!!!!!! jjjjsjsjjj
You put it difficult to understand your messages!!!!!
Looking forward to reading your next entry!!!!!!
Stay put!!!!!
Stay put!!!!!!
Some of the folks I used to hang out with in Newcastle would just use that expression all the time. Instead of saying have a few or down afew or simply have a beer, they d just that.
Yup k = 1000
The metropolitan opera house, huh? Someone s a culture vulture.
That´s the reason!!!!!
Using Newcastlelian folk slang!!!!!! you´re trying to get us insane!!!!!
jjjjjjj jjjjjj jjjjjj
Only three of us have the courage to ask and answer you!!!!!!
Come on, Sevillian mates!!!!! Come on Trini, Pablo, Tam (you´re so focus on online work), JJ, Mar, Isa, Nico, Marco (although faraway), Rocío, Lola and me need you to answer with our better future C1 English Sevillian slang!!!!!
We aren´t vultures, we are directly hyenas, talking about culture scavangers actually!
Try the opera, it´s like a vampire introducing their fangs into a tempting cultural neck!!!! If vegerarian like me, like biting a Big Apple!!!!! That´s the nearest we´ll be from the City That Never Sleeps on this time of seclusion!!!
Stay put!
Hahahaha...what a high level of slang round here 😆
Lovely Tamana, we miss you a lot!!!!!!!!
I knooow, I miss you and our classes too :)
Hi guys! It's nice to read you all.
I was trying to deal with confinement by eating healthily and doing indoor cycling until my stationary bike broke yesterday, so the only way I have now to do that is by going to the rooftop and do some sportive stuff. Having my pet as the best of the companies, I guess it won't be hard.
My thoughts about teleworking are horrible since I consider touch and feeling essential for me at work, and I am devoting a great amount of time to it. Now I'll watch the videos and check my imitation abilities.
I'll tell you.
Miss you guys!
Stay put, Rocío!!!!!
Miss you too!
Nacho,
would you mind to share the correction sheet of excercises page 78, please?
I have some doubts.
Thank you very much.
Cheers!
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