Coronavirus hits Blacks and Browns Hardest 200812
August 12, 2020
Emailed to The United Nations, Fed Chair Jay Powell, St Louis Fed President James Bullard, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, and NYT/WSJ/WP/DMN/CNBC on 8/14/20.
The coronavirus is hitting the blacks and browns in America hardest because the U.S. Government is corrupt! The corrupt U.S. Government has fraudulently borrowed $153.8 Trillion from the future Americans and given it to the U.S. upper class!
The coronavirus is hitting the blacks and browns hardest because the corrupt U.S. Government is committing a fiscal and accounting fraud, by not using GAAP Accounting, that is in the process of fraudulently borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class by undertaxing them (US Unfunded Liabilities (GAAP))! The corrupt U.S. Government is not accruing the money to pay future benefits that it has falsely promised!
The top end of the economic scale in America is getting filthy rich and the bottom end of the economic scale in America is getting screwed because of this fiscal and accounting fraud!
This fiscal and accounting fraud is causing extreme economic inequality which has created extreme health inequality! The corrupt U.S. Government has fraudulently given the U.S. upper class $153.8 Trillion to create the massive wealth and income gap that we have in America!
The New York Times
Virus Is Twice as Deadly for Black and Latino People Than Whites in N.Y.C.
Officials revealed that disparity on Wednesday as they announced that 779 more people in the state had died of the virus, the second straight day that deaths spiked to new highs.
By Jeffery C. Mays and Andy Newman
Published April 8, 2020 Updated June 26, 2020
The coronavirus is killing black and Latino people in New York City at twice the rate that it is killing white people, according to preliminary data released on Wednesday by the city.
The disparity reflected longstanding and persistent economic inequalities and differences in access to health care, Mayor Bill de Blasio said on Wednesday morning.
“There are clear inequalities, clear disparities in how this disease is affecting the people of our city,” Mr. de Blasio said. “The truth is that in so many ways the negative effects of coronavirus — the pain it’s causing, the death it’s causing — tracks with other profound health care disparities that we have seen for years and decades.”
The preliminary death rate for Hispanic people in the city is about 22 people per 100,000; the rate for black people is 20 per 100,000; the rate for white people is 10 per 100,000; and the rate for Asian people is 8 per 100,000. The rates are adjusted for the size and age of the population.
The coronavirus is hitting the blacks and browns in America harder than the whites because of the systemic elitism, systemic racism, and economic inequality produced by the fraudulent fiscal policy of the U.S. Government!
The corrupt U.S. Government is committing a fiscal and accounting fraud, I call it USAPonzi, that is enriching the elite and oppressing the common man! The corrupt U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money, so far $153.8 Trillion, and giving it to the elites while forcing the lower classes, including many of the blacks and the browns, to earn a living by performing tasks that require them to work with and close to other people, exposing them to the virus!
Mayor de Blasio is right that this disparity in the rate of contagion of Covid-19 is due largely to economic inequality!
But this economic inequality is caused by the corrupt U.S. Government not using proper GAAP Accounting which is enriching the elite and cheating the common man (See USAPonzi: The Great American Fraud)!
My commentary (Trilogy of Global Crises) explains not only how the inequality of the USAPonzi economy is produced by this fiscal and accounting fraud, but also how this fiscal and accounting fraud is causing the coronavirus pandemic!
The corrupt U.S. Government is causing the coronavirus to hit blacks and browns harder than the whites because the corrupt U.S. Government is running a Ponzi scheme to fraudulently enrich the elite!
USAPonzi is an exponentially increasing fraud!
Because the U.S. Government is not accruing the money to pay future U.S. Government benefits the U.S. upper class is getting undertaxed and rich, so far by $153.8 Trillion, and the U.S. Government is cheating the U.S. general public by $127.2 Trillion because the U.S. Government is not accruing the money to pay future benefits! The way this accounting fraud works, the longer this Ponzi scheme runs, the richer the U.S. upper class becomes and the poorer the U.S. general public becomes!
Because the corrupt U.S. Government is printing an unending and ever-increasing (infinite) amount of imaginary-counterfeit money and giving it to the U.S. upper class, the U.S. upper class can shelter in place in their increasingly luxurious and spacious housing! Being rich, you can shelter in place for an extended period of time because the money from this Ponzi scheme keeps coming in without you having to work and you can “not-work” just about anywhere!
The top end of the economic scale does great because they have safer and safer living and working/not-working conditions because they have an unending and ever-increasing (infinite) income of imaginary-counterfeit money produced by the GAAP basis deficit spending of USAPonzi!
The U.S. upper classes are upgrading their living accommodations, building pools, outfitting their exercise facilities, buying new cars, etc. etc. even as the Coronavirus Pandemic is raging, and the U.S. lower classes are facing financial devastation and having to go to food lines!
When you cheat the unrich to enrich the rich, this creates a dramatically inequitable economy!
The bottom end of the economic scale has to get out and face the virus to earn their money and then go home to living accommodations that are deteriorating as time goes on, tend to be much more crowded than that of the top end of the economic scale, and tend to be more likely to have multiple generations sharing that space! The older generation tends to be most susceptible to Covid-19 and the infected workers in the bottom end of the economic scale can then infect the older generations in their household!
But the corrupt U.S. Government has set up an accounting fraud that assures that the upper class will do better and better and assures that the lower class will do worse and worse!
According to usdebtclock.org, the U.S. Government is, on average, borrowing $75.9 Billion every day in FY2020 from the future Americans and giving it to the U.S. upper class (GAAP deficit in FY2020 = >$27.7T/365 days = >$75.9B/day)!
Extreme economic inequality has been caused by U.S. Government accounting fraud and this in turn has created extreme health inequality!
Having a lot of money, so far $153.8 Trillion, makes life a lot easier and healthier for the top end of the economic scale!
Having very little money, makes life a lot harder and unhealthier for the bottom end of the economic scale!
This U.S. Government accounting fraud, that I call USAPonzi, is in the process of giving the U.S. upper class infinite wealth while the U.S. lower class frequently only has the money they can earn that day if they can find a job!
The U.S. Government likes the upper class a lot more than it likes the lower class, $153.8 Trillion more!
The U.S. Government is lying to and cheating the U.S. general public by promising them future benefits that it is not funding so that it can enrich the U.S. upper class by undertaxing them!
Extreme economic bias and fraud can cause a lot of accidental and apparently unrelated consequences! This accounting fraud, that I call USAPonzi, is killing blacks and browns twice as fast as it is killing whites! The corrupt U.S. Government is enriching the upper classes at the expense of the lower classes and the upper classes tend to be whiter and the lower classes tend to be blacker and browner!
When the corrupt U.S. Government prints $153.8 Trillion of imaginary-counterfeit money by fraudulently borrowing it from the future Americans, it can have a strong influence as to who gets this money! The corrupt U.S. Government has chosen to give most of this imaginary-counterfeit money to the U.S. upper class by undertaxing them!
The lower classes are unhealthy because the U.S. Government has rigged its fiscal policy to colossally and fraudulently enrich the upper class and colossally and fraudulently cheat the common man!
The following table gives a summary assessment of the U.S. Government financial condition as of August 12, 2020 as estimated by www.usdebtclock.org.
|Cash Deficit in FY2020
|*GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org August 12, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP). US Unfunded Liabilities (GAAP) were $126.1 Trillion on October 1, 2019 the start date for FY2020, therefore the GAAP Deficit in FY2020 will be >$27.7 Trillion (>$153.8T-$126.1T = >$27.7T).
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this accounting fraud and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my www.usaponzi.net website.
This is the biggest ($153.8 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White