Financial Crisis

The figurative tremblors of the last few weeks have confirmed why we call ourselves Flyover Country. It’s because the major shapers of the American economy keep — well, flying over us as they shake the financial foundations of the entire nation.  read more »

In September 1977, the Youngstown Sheet and Tube Company announced the first major shutdown in the American steel industry. It was closing its largest mill, the Campbell Works, displacing over 10,000 workers.  read more »

Antisemitism has always partly been driven by envy; Jews attract a unique resentment for their disproportionate intellectual achievements in literature, science, education and, particularly, finance. At the same time, however, this success can be inverted.  read more »

My father, a retired AME Church pastor, on occasion would start a sermon with a story about a pastor preaching a particularly fantastic sermon. The pastor was heaped with praise by his congregants after service. The following Sunday he preached the exact same sermon, to the puzzlement of the church members.  read more »

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 »

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 »

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 »

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 »

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 »

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 »