Who lost the most in economic terms Tuesday? Certainly energy companies now face a potentially implacable foe — and a re-energized, increasingly hostile bureaucratic apparat. But it’s not them. Nor was it the rhetorically savaged plutocrats who in reality have been nurtured so well by the President’s economic tag team of Ben Bernanke and Tim Geithner. read more »
President Obama, the man many saw as curing the country’s “scar of race,” won a second term in the most racially polarized election in decades. Overall, the Romney campaign relied almost entirely on white voters, particularly in the South and among the working class. Exit polls showed that almost 60 percent of whites voted for Romney. read more »
The middle class, we’re frequently told, decides elections. But the 2012 race has in many ways been a contest between two elites, with the plutocratic corporate class lining up behind Mitt Romney to try and reclaim its position on top of the pile from an ascendant new group—made up of the leaders of social and traditional media, the upper bureaucracy and the academy—that’s bet big on Barack Obama. read more »
"Privileged people don't march and protest; their world is safe and clean and governed by laws designed to keep them happy...." Michael Brock in John Grisham's The Street Lawyer (Doubleday, 1998).
"There can be nothing happy for the person over whom some fear always looms…” Cicero, Tusculan Disputations 5.62, via Wikipedia.com read more »
The most recent jobs report was again below consensus. With fewer than 100,000 new jobs, unemployment fell only because people continue to leave the labor force in huge numbers. People are discouraged, and many don't believe we are in a recovery. Why would they think that we aren't in a recovery? After all, GDP is above its pre-recession high, and we hear all the time about how many jobs have been created over the past couple of years. read more »
After a decade of increasingly celebrated gentrification, many believe Brooklyn — the native borough of both my parents — finally has risen from the shadows that were cast when it became part of New York City over a century ago. Brooklyn has gotten “its groove back” as a “post-industrial hotspot,” the well-informed conservative writer Kay Hymowitz writes, a perception that is echoed regularly by elements of a Manhattan media that for decades would not have sullied their fingers wr read more »
While the Democratic convention this week celebrates the party’s new coalition, Bill Clinton will no doubt try to recapture the white middle class that’s largely deserted the Democrats since his presidency ended. But it’s likely his efforts will be a case of too little, too late for Barack Obama—who will have to look elsewhere for his electoral majority. read more »
Recently, the McKinsey Global Institute published its report 'The Most Dynamic Cities in 2025' in Foreign Policy, a highly respected US journal. On this list, 27 mainland Chinese cities as well as Hong Kong took top spots alongside Shanghai and Beijing, leaving many other world-renowned metropolises far behind.
As a Chinese who has lived through China's transformation over the past two decades, I was hardly surprised by the results of this report. What really shocked me was the doubt and controversy that this report generated in western media, especially the negativity in the heated discussions published in the very same issue of Foreign Policy. read more »
Much is said about class warfare in contemporary America, and there’s justifiable anger at the impoverishment of much of the middle and working classes. The Pew Research Center recently dubbed the 2000s a “lost decade” for middle-income earners — some 85% of Americans in that category feel it’s now more difficult to maintain their standard of living than at the beginning of the millennium, according to a Pew survey. read more »
Drew Klacik’s recent post on how he ended up in Indianapolis got me thinking about the unique status of what I’d describe as “cities of aspiration.” Pretty much all cities seem to be reasonably good at attracting people in the following cases: read more »