How the Richest Get Richer in the Pandemic While Americans Struggle | The Mehdi Hasan Show

Anand Giridharadas joins Mehdi Hasan to detail how America's richest few have grown their wealth amid the pandemic, often at the expense of the poor and middle class.

Bernie Sanders: COVID Relief Package Is "Totally Inadequate" for "Unprecedented" Economic Crisis

As Congress is rushing to pass a new $900 billion coronavirus aid package, Senator Bernie Sanders of Vermont is calling the new relief package "totally inadequate, given the nature of the unprecedented crisis that we face." Sanders took to the floor of the Senate Friday to call for $1,200 emergency checks for every working-class adult and $500 per child. We air portions of his address.

Barnier: Fishing Row Is Main Obstacle in 'Final Hours' of Brexit Talks

THE GUARDIAN: EU’s chief negotiator says two sides have hit ‘moment of truth’ after months at loggerheads

Michel Barnier has said the main obstacle to a deal in the final “few hours” of the post-Brexit trade negotiation is whether Brussels will be able to hit British goods with tariffs if the government closes its fishing waters to EU fishing fleets in the future.

With the European parliament having said it needs agreement by midnight on Sunday for it to be able to give its consent in a vote this year, the EU’s chief negotiator said the nine months of talks had hit the “moment of truth”.

The two sides are at loggerheads over whether the EU will be able to hit back should the UK close its seas to European vessels after a transition period of unspecified length.

Barnier said it would only be fair for Brussels to be able to put tariffs on UK goods, and fisheries products in particular, should European fishing fleet lose their access to British waters. » | Daniel Boffey in Brussels | Friday, December 18, 2020

Markets at Record Highs amid Rising Optimism of a Pandemic Recovery

THE GUARDIAN: Investors bet Covid vaccines and stimulus measures will propel economy forward in 2021

Global stock markets have hit record highs amid rising optimism that Covid-19 vaccines and stimulus measures can turbocharge economic recovery from the second wave of the pandemic.

The MSCI World Index, which tracks stocks across the developed world, reached a new high of 639.33 on Thursday. The index has climbed 16% since the start of November when multiple vaccine breakthroughs were first announced.

Wall Street rallied further to yet again set new records for the US stock market, with the Dow Jones Industrial Average trading above the symbolic 30,000 mark reached last month. European share prices closed at the highest levels since February while the value of bitcoin broke through $23,000 (£16,900) barrier for the first time in a second day of steep gains for the cryptocurrency. Brent crude oil also hit a nine-month high of $51.90 a barrel. » | Richard Partington and Graeme Wearden | Thursday, December 17, 2020

The Guardian View on Shameless CEOs: Because They're Worth It?

THE GUARDIAN: The revelation that Ocado’s chief executive was paid £58.7m last year speaks of a rotten corporate culture out of step with the times

Almost 50 years ago, the American philosopher John Rawls published a celebrated account of what fairness looks like in a liberal democracy. Though scrupulous in its safeguarding of individual freedoms, Rawls’s groundbreaking A Theory of Justice incorporated an important rider. His so-called “difference principle” stipulated that resulting inequalities were justified only if they benefited the least well-off in society.

It is doubtful that Rawls would have judged the pay of Tim Steiner, the chief executive of Ocado, to fall into this category. A report by the High Pay Centre thinktank has revealed that Mr Steiner last year earned £58.7m. This astonishing rate of remuneration is 2,605 times the average wage of one of his employees, which stands at £22,500. Put another way, 24 hours of Mr Steiner’s time is allegedly worth a year’s toil from an average Ocado worker. » | Editorial | Wednesday, December 16, 2020

Brexit Is the Worst Decision of Modern Times. Why Are Its Critics in Cabinet So Silent?

THE GUARDIAN: The UK will soon be on its own – sovereign, in charge and control regained. Yet none of that creates jobs or ensures a glorious future

After a lifetime close to the workings of government, I approach drafting an article about Brexit for a Sunday publication with trepidation. Both sides have said a decision will be taken today, but not what that may be; and anyway, can you believe that any decision will really be the last?

What I do know is that both sides will be presenting the story that best serves their negotiating positions and pleases their most important audiences. Facts are in short supply; there is a plethora of spin.

“Taking back control” will summon up the blood of British patriotism. The union jack prominently displayed before the negotiating table reinforces the demand for sovereignty, while a few asides about cheating foreigners reinforce national prejudices. The leadership necessary to listen to the other side, and understand where compromises may lead, all too soon becomes a cult of nationalism led by the most extreme of partisan groupings.

“I will have my cake and eat it” is rather a good joke on this side of the Channel. It has a quite different implication for the rest of Europe where sovereignty matters as well – theirs, not ours. » | Michael Heseltine | Sunday, December 13, 2020

Boris Johnson Would Only Have Himself to Blame for a No-deal Brexit

THE GUARDIAN: The prime minister is in this mess because he has always considered his own interests before Britain’s

What Boris Johnson once described as a failure of statecraft now looms over Downing Street. As Britain prepares to end normal commercial contact with the rest of Europe, we must try to understand the endgame that is passing through the prime minister’s mind.

Johnson has egotistically ensured that the final resolution rests with him. Only a major last-minute concession by him personally can avert the economic calamity of a no-deal Brexit. In the Commons this week, he seemed to be pumping up the anti-EU rhetoric, revelling in the cheers from what must be a tiny band of no-deal enthusiasts. Can he now find the guts to back down?

Throughout the negotiations, Britain’s team has misjudged the weakness of its position. All that was required was a continuation treaty for the UK to trade freely with its 27 neighbours, as it had done for 40 years. At stake was 43% of the UK’s total export trade; by contrast, according to 2016 figures, the UK accounts for only 16% of the EU’s exports market. It was never conceivable that the UK could dictate the terms of a treaty. The issue had nothing to do with democracy or sovereignty, only with the terms on which each side wished to do business. » | Simon Jenkins | Thursday, December 10, 2020

Brexit: Trade Deal Now Looking Remote

BBC: If at first you don't succeed you can try and try.

But eventually, sometimes, failure is what follows.

That now seems the likely outcome of months of talks designed to create a smooth path for the country towards a different future - a deal that, in theory, would ease the junction from membership of a huge trading bloc to a world outside.

There is a chance still that a couple of frantic days could result in a change.

The prime minister could decide that after all, the potential disruption of no deal is just too great to risk.

The EU president might be able to persuade continental leaders to budge, as they gather in Brussels today.

But the chance of reassessing and refreshing the efforts seem now remote. » | Laura Kuenssberg, Political editor | Thursday, December 10, 2020

Brexit: 'Strong possibility' of no trade deal with EU - PM »

Brexit: EU, UK Leaders Set Trade Deal Deadline until Sunday | DW News

British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen set a new deadline for Sunday evening after meeting on Wednesday. Their "last supper" was aimed at determining both sides' willingness to continue negotiations for a post-Brexit trade deal that could avoid a chaotic breakup in three weeks. The three-hour "lively" dinner ended with the two sides still being "far apart" on a possible trade deal, but they agreed to finalize a decision by Sunday.

The talks appeared to go badly, according to DW correspondent in Brussels, Barbara Wesel. The three major obstacles of fair competition, governance of the deal, and fisheries remain, she said, and there appeared to have been "absolutely zero movement" on these. There are no higher authorities on the Brexit trade deal and so a lack of movement now has little recourse for hope, Wesel explained. "A no-deal might be looming indeed."

Ahead of the meeting, German Chancellor Angela Merkel expressed her skepticism over the dinner's possible results. "There is still the chance of an agreement," she said during a speech to German lawmakers. She also stressed that the EU would not compromise on its core principles. "One thing is clear: the integrity of the [EU's] internal market must be preserved." Merkel told the German parliament that the bloc would "take a path without an agreement if there are conditions from the British side that we can't accept." Before the meeting, Johnson said a post-Brexit deal was still possible. "A good deal is still there to be done. I look forward to discussing it with Commissioner von der Leyen tonight," he told Parliament. He also said, however, that there were some terms that "I don't believe ... any prime minister of this country should accept." The primary conflicts revolve around fishing rights in British waters, ensuring fair competition for companies on either side of the English Channel, and ways to solve future disputes

Reaching a deal by the end of the year would ensure that there are no blanket tariffs or quotas on trade in goods on January 1, although there would still be new costs and red tape for businesses. Failure to secure a deal would mean following international trade rules established by the World Trade Organization and the introduction of tariffs and other barriers that would hurt both sides, albeit affecting roughly 45% of British foreign trade as opposed to around 8% of Europe's. "We must have a level playing field not just for today, but we must have one for tomorrow or the day after, and to do this we must have agreements on how one can react if the other changes their legal situation,'' Merkel said. "Otherwise there will be unfair competitive conditions that we cannot ask of our companies.'' Michael Gove, a senior minister in Johnson's government, told Times Radio the EU would have to compromise if it wanted a deal. "The EU has to move," he said. Failure to secure a deal would put around $1 trillion (€825 billion) in annual trade at stake, and would likely snarl borders, shock financial markets and create chaos throughout supply chains across Europe.

Sen. Bernie Sanders: People Are Suffering ‘in a Way We Have Not Seen Since the Great Depression’

Independent Senator Bernie Sanders discusses the need for Congress to pass a new coronavirus stimulus bill and the importance of the upcoming Senate race in Georgia. He tells Ali Velshi, “What’s happening in Georgia is going to impact the entire country.”