Financial Crisis

What Really Divides America

democracy-watch.jpg

Reading the mainstream media, one would be forgiven for believing that the upcoming midterms are part of a Manichaean struggle for the soul of democracy, pitting righteous progressives against the authoritarian “ultra-MAGA” hordes. The truth is nothing of the sort. Even today, the vast majority of Americans are moderate and pragmatic, with fewer than 20% combined for those identifying as either “very conservative” or “very liberal”.  read more »

Can Space Save Earth?

space-x-eshail-mission_sm.jpg

The world economy is in the doldrums, pessimism is rife around the world, and most young people, according to one survey, believe climate change means the end of human life on Earth.  read more »

Class is Back

window_washer-tethered.jpg

The growing likelihood of recession, at best sharply lower growth and maybe 1970s-style stagflation, seems likely to further accentuate the class and political divisions already rubbed raw by the pandemic and a global supply crisis.  read more »

The Kids Are Not Alright and the Center is No Longer Holding

income-workers-vs-capital.jpg

Across the West, the young are losing faith in the future.

The recent French election provides a case study. In the first round vote, voters narrowly favored President Emmanuel Macron, the epitome of “enlightened” elite rule, over Marine Le Pen, the doyenne of French fascism.  read more »

The Working Classes Are a Volcano Waiting to Erupt

gilets-jaunes_protest-FR.jpg

Whatever the final outcome, the recent French elections have already revealed the comparative irrelevance of many elite concerns, from gender fluidity and racial injustice to the ever-present ‘climate catastrophe’. Instead, most voters in France and elsewhere are more concerned about soaring energy, food and housing costs.  read more »

California's Vanished Dreams, By the Numbers

Homeless_camp_Oakland_California.jpg

Even today amid a mounting exodus among those who can afford it, and with its appeal diminished to businesses and newcomers, California, legendary state of American dreams, continues to inspire optimism among progressive boosters.  read more »

America is Headed for Class Warfare

amazon-worker.jpg

Nothing has revealed the class divide in the U.S. quite like runaway inflation and skyrocketing gas prices. But in addition to the economic impact the staggering incompetence of the Biden administration is having on the working class, there is a political one; it's undeniably driving working class voters even further from the Democrats and toward the GOP.  read more »

China's Red Lines: A Failure of Central Planning

MFG_No1_Shenzhen_Bay_in_Weilanhaian_District2020.jpg

Evergrande, China's second-largest property developer, has said that it might not make interest payments on its bonds this week.  read more »

Some Dreamers of the Rusty Dream

American-Rust.jpg

In the new Showtime series, American Rust, set and filmed outside of Pittsburgh, PA, and based on the 2009 novel by Philipp Meyer, we see the aftermath of an industrial collapse so devastating that the fictional town of Buell, PA, looks like it’s been bombed, strafed, and ransacked.  read more »

Winners and Losers: The Global Economy After COVID

bezos-by-steve-jurvetson.jpg

The COVID-19 pandemic has transformed the world economy in ways that will be debated by pundits and future historians for decades to come. Yet, as hard as it is to predict a disrupted future accurately, the pandemic (not to mention its probable successors) looks likely to produce clear economic winners and losers.  read more »