Financial Crisis

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

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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

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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

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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

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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

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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

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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

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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 »

Bucket Toilets and Casseroles: Belonging, Mutual Aid, and Working-Class Survival

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This past year of the pandemic has, for many, been one of struggle and isolation. So films about single older working-class women dealing with economic and personal challenges might not seem inspiring at the moment. But the insights they provide into how belonging helps people navigate hardship make them worth a look.  read more »

Blaming the Gipper

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Political progressives have an opening to rewrite recent U.S. history, and they don’t intend to stop with the Trump years. The deepest left has already gone way back (as far as the celebrated 1619 Project), but for most social welfare Democrats, it’s enough to erase the stain of Ronald Reagan.  read more »

If Biden Can't Build a Better Economy, America is In Trouble

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Donald Trump’s finally gone, but if Joe Biden wants his return to normalcy to be any more successful than his predecessor’s appeal to greatness, he’ll need to take on the real issues dragging red and blue America down: economic torpor, ever increasing inequality, and policies that diminish people’s prospects of making it into or maintaining their positions in the middle class.  read more »