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On the Trail With Gary Johnson - The New York Times - 0 views

  • Gary Johnson, the Libertarian Party’s candidate for president, will be on the presidential ballot in all 50 states
  • the first time a third-party candidate has managed that feat in 20 years
  • But Mr. Johnson, a 63-year-old former governor of New Mexico, is walking a lonely road. While his name may be familiar, his face is not
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  • Last week, he missed the chance to make his case to more than 80 million Americans, when he fell shy of the 15 percent polling average needed for inclusion in the first presidential debate.
  • To the extent that Mr. Johnson has managed to generate coverage of his candidacy, the headlines have typically not been confidence inspiring
  • A competitive triathlete who has run 20 marathons, climbed the tallest mountains on all seven continents and almost died — twice — on gas ballooning adventures, he is not easily deterred.
  • He defines himself as a social liberal, a fiscal conservative and a military isolationist.
  • This is not the first time Mr. Johnson has run a long-shot campaign for the presidency. He won just 1 percent of the popular vote as the Libertarian Party’s candidate in 2012, after first competing for the Republican nomination
  • He has even won a handful of newspaper endorsements — more, in fact, than Donald J. Trump, the Republican nominee — including, most prominently, that of The Chicago Tribune.
  • Mr. Johnson is polling especially well in Ohio and Colorado, which could both still be up for grabs.
katyshannon

Gary Johnson explains Aleppo flub: 'I blanked' - POLITICO - 0 views

  • Libertarian presidential candidate Gary Johnson said he "blanked" when he couldn't identify the Syrian city of Aleppo in an interview on MSNBC.
  • Johnson was asked by MSNBC's Mike Barnicle "What would you do if you were elected about Aleppo?" he responded "And what is Aleppo?" The comment raised eyebrows among the MSNBC panelists, as it suggested a lack of familiarity with a pressing international conflict: Syria's ongoing civil war.
  • "As Governor, there were many things I didn't know off the top of my head. But I succeeded by surrounding myself with the right people, getting to the bottom of important issues, and making principled decisions. It worked," Johnson continued in his statement. "That is what a President must do.
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  • "That would begin, clearly, with daily security briefings that, to me, will be fundamental to the job of being President."
andrespardo

'How do you fall for the Bernie Sanders scam?' Martin O'Malley on the Democrats and Iow... - 0 views

  • He volunteered for Gary Hart, the Colorado senator who was the party frontrunner for 1988 until scandal brought him down. Entering elected politics himself, O’Malley was the mayor of Baltimore from 1999 to 2007 and the governor of Maryland from 2008 to 2015. He aimed at the White House as a happy warrior, a guitar-playing politico with a record of progressive policy achievement.
  • A few days before Iowa votes again, O’Malley walks a few blocks from his Washington office. The room is quiet, the table discreet. The national stage is not. Over at the Capitol, in the impeachment trial, Donald Trump is on his way to acquittal.
  • never
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  • “Bernie’s still being given a bit of a free pass by the national media,” he says. “I do not believe that he would be a strong candidate for our party in the fall. And, except for three months out of every four years, he’s not even of our party.”
  • Some such stories, he says, feature in another manuscript, written with the guidance of the late Richard Ben Cramer, the author of What It Takes, “the definitive book about the 1988 presidential race” in which Hart flew so high then fell. Its title is Baltimore: A Memoir and a piece of it is out there on the web. Some want O’Malley to rewrite it, he says, to tie his own story more closely to the idea he was the model for the mayor of Charm City played by Aidan Gillen in The Wire, David Simon’s groundbreaking HBO series. He’s not keen.
  • Of course, much of the energy that delivered such victories was determinedly progressive, akin to or directly supportive of Sanders and his transformative effect on the liberal cause. But O’Malley is as much a pillar of the party as Sanders is not.
  • e smiles. “Do you want me to speak more frankly?”
  • Here’s a guy who has been a kind of stalwart of the National Rifle Association, a man who said immigrants steal our jobs right up until he ran for president,
  • Such focus seems timely: with the federal government in Trump’s sclerotic grip, cities in particular have begun to take a lead. On climate change, for example, some US mayors have reacted to Trump’s withdrawal from the Paris deal by saying they will simply pursue its aims themselves.
  • The Gonzaga gathering, O’Malley says, is a friendly one, a chance for the old boys “to ask, ‘Hey, how are you doing? How’s your wife? How’s your kids? What are you up to?’
  • “We recognized each other from the Sunday shows and having served together. We shook hands … but it was not a moment for me to simply say, ‘Hey, how’s work?’ I know how work is with him.
  • om Perez, once the Maryland secretary of labor, ended up in the role but O’Malley supported a young mayor from the Republican heartlands: Pete Buttigieg, now a challenger in the presidential primary.
  • But in an echo of the frustrations of 2016, O’Malley criticises the way the DNC has run the primary, particularly the way debate qualifications based on polling data and donor numbers – changed this week – have kept the likes of the former Massachusetts governor Deval Patrick (“a friend” to whom O’Malley has donated) and the Montana governor Steve Bullock firmly out of the spotlight.
  • I was out there rattling the tin cup, from county square to county square.”
  • “All of that’s part of the process. But at the end of the day, we have to nominate someone who can defeat him and who can bring our country together and govern.”
malonema1

The Goldman Sachs era in Trump's White House is fading away - 0 views

  • Top economic adviser Gary Cohn is only the latest Goldman figure to head for the White House exits, suggesting the influence of the oh-so-establishment banking powerhouse has been overwhelmed by the more nationalistic voices in the West Wing.
  • Of course, handing big jobs to Goldman alumni is an Oval Office tradition. The influential bank has produced Treasury secretaries, White House chiefs of staff and top economic advisers in both Republican and Democratic administrations. But Trump's reliance on Goldman talent was a surprise to some, given his anti-Wall Street, drain-the-swamp campaign rhetoric.
  • "I think Donald Trump wanted these Goldman people as a way to stroke his own ego. Don't forget that Goldman never wanted to do business with Donald Trump," Cohan said. "It was a way for (Trump) to say 'Ha, ha, now I've got some of your best people working for me.'"
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  • So far, Trump's presidency has been good for Goldman and other major banks. Since taking office, Trump's main legislative achievement was a $1.5 trillion tax cut applauded by Wall Street. Cohn and Mnuchin were deeply involved in that process and Cohn stayed in the administration to work on it, after he was upset by the president's comments about the racial violence in Charlottesville last August.
  • Blankfein weighed in on Twitter saying: "Gary Cohn deserves credit for serving his country in a first class way. I'm sure I join many others who are disappointed to see him leave."
lilyrashkind

6 Everyday Inventions That Debuted at World's Fairs - HISTORY - 0 views

  • Emerging from the medieval tradition of agricultural and trade fairs, the Great Exhibition of the Works of Industry of All Nations, held in London in 1851, was the first international gathering of this kind, and widely considered the first World’s Fair.
  • Throughout the rest of the 19th century, countries and companies used World’s Fairs as opportunities to make fairgoers from rapidly industrializing nations more comfortable with and confident in manufactured goods. In some cases, companies even built fully functional small-scale versions of their factories as part of their exhibition.
  • But the highlight and most eagerly anticipated part of these World’s Fairs was the introduction of new technologies and inventions. This provided fairgoers the chance to see the latest products and developments ahead of the rest of the public, and gave countries, industrialists and inventors an international stage from which to showcase their achievements. And while many of these inventions never caught on (it turns out, there’s not much demand for cigarette-smoking robots), there are others that continue to be used on a daily basis. Here are six examples of everyday inventions that debuted at World’s Fairs.
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  • It’s easy to take the zipper for granted today, but before it was invented, getting (and staying) dressed involved securing clothing with ropes, ties, buttons or other fasteners.
  • After years of attempts, Bell achieved his goal of transmitting sound over a wire, and on March 7, 1876, obtained his first U.S. Patent for a device he labeled as “Improvement on Telegraphy”—now better known as the telephone.
  • The first World’s Fair to take place in the United States was held in Philadelphia in 1876, and also celebrated the 100th anniversary of the country’s founding.
  • Then, in 1893, inventor Whitcomb L. Judson received a patent for his “clasp locker” shoe fastener, and immediately partnered with businessman Colonel Lewis Walker to launch the Universal Fastener Company and manufacture his invention
  • Along with the zipper, the Garis-Cochran Dishwashing Machine was also first introduced to the public at the 1893 Chicago World’s Fair, in a display drawing crowds curious about the contraption capable of thoroughly washing and drying 240 dishes in two minutes. The crowd-pleasing exhibit was more than a decade in the making. In 1883, Ohio entrepreneur Josephine Garis Cochran grew frustrated with the amount of time it took to clean up after dinner parties, reportedly saying, “If nobody else is going to invent a dishwashing machine, I’ll do it myself.” And she did.
  • One of the biggest challenges that arose during the early days of electricity was getting it from the power source to an individual device. By the 1880s, entire houses were being wired for electricity, but electrical appliances had to be connected to the home’s main power source directly, posing serious safety risks to members of the household.
  • April 30, 1939, New York City: This is the scene viewed on the television receivers in the metropolitan area, as the National Broadcasting Company inaugurated the first regular television service to the American public telecasting the ceremonies marking the opening of the New York World's Fair. Bettmann via Getty Images
  • May 1, 1939 saw another television milestone: the launch of a regular television broadcast schedule on the National Broadcasting Company (NBC), which was owned by RCA.
  • Fairgoers could take what was advertised as “America’s first television tour” (presented by NBC), where they would learn about the history of the medium, as well as the science and engineering that made its broadcast possible.
  • In the age of smartphones, it’s easy to identify the touchscreen demonstration at the World’s Fair as a significant technological turning point, but according to Jack Neely, executive director of the Knoxville History Project and crowd controller at the World’s Fair, that wasn’t apparent at the time. “It was...one of those things you had to look fast to notice,” Neely told the University of Tennessee Daily Beacon in a 2017 interview.
Javier E

Inside Gary Gensler's SEC Campaign to Rein In the Crypto Industry - The New York Times - 0 views

  • Under his leadership, though, the S.E.C. has made crypto a priority, nearly doubling its enforcement team to 50 members. In February, the agency levied a $100 million fine on the crypto lending company BlockFi over registration failures; BlockFi suspended operations this month as a result of its ties to FTX.
  • According to public filings, the agency is also investigating the process by which Coinbase, the largest U.S. crypto exchange, chooses which cryptocurrencies to offer.
  • “There were a lot of entrepreneurs that grew up in this field and chose to be noncompliant,” Mr. Gensler said in an interview last month at the S.E.C. headquarters in Washington. “We will be a cop on the beat.”
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  • Mr. Gensler’s central claim is simple: For all their novel attributes, most cryptocurrencies are securities, like stocks or other investment products. That means the developers who issue cryptocurrencies must register with the U.S. government and disclose information about their plans.
  • Even before FTX’s collapse, the debate was reaching an inflection point: A federal judge is expected to rule in the coming months in a lawsuit brought by the S.E.C. that charges the cryptocurrency issuer Ripple with offering unregistered securities. A victory for the government would strengthen Mr. Gensler’s hand, establishing a precedent that could pave the way for more lawsuits against crypto companies.
  • A former Goldman Sachs partner, Mr. Gensler became one of the most aggressive financial regulators in Washington after the 2008 recession. As chairman of the Commodity Futures Trading Commission, an agency that regulates the financial markets, he helped carry out the 2010 Dodd-Frank Act, which aimed to protect consumers and rein in Wall Street.
  • when Mr. Gensler took over the S.E.C., the crypto industry hailed him as an enthusiast who understood the technology’s potential. Bitcoin “is in good hands,” one venture investor tweeted.
  • But it soon became clear that Mr. Gensler would take a hard-line approach. In July 2021, he met with a group of industry representatives, including the leader of the Blockchain Association, a prominent crypto trade group. He bluntly informed her that most of the organization’s members were probably violating federal rules, two people familiar with the meeting said.
  • Rather than devise new rules for crypto, Mr. Gensler has focused on enforcing the current ones as broadly as possible.
  • A few days later, Mr. Gensler called crypto “the Wild West” while speaking at a national security conference in Washington.
  • Behind closed doors, Mr. Gensler has been equally aggressive. “I’ve heard about other groups going in and getting in arguments,” said Perianne Boring, the founder of the Chamber of Digital Commerce, a crypto advocacy group. “You want to have a fight, you can have one.”
  • In crypto circles, mentioning Mr. Gensler’s name elicits quivers of fury. A Twitter account for the crypto company LBRY once called him “a demon wearing human flesh.”
  • The basis for Mr. Gensler’s claim that cryptocurrencies are securities is a legal analysis known as the Howey Test, which the Supreme Court outlined in 1946. Under the framework, a financial product is deemed a security when it offers the chance to invest in a “common enterprise” with the expectation of profiting from the efforts of others.
  • FTX’s collapse has unleashed a new level of scrutiny. Screenshots of Mr. Gensler’s public meeting schedule, which show multiple sessions with Mr. Bankman-Fried, have circulated on Twitter, where crypto fans who once said Mr. Gensler was overly aggressive have now accused him of cozying up to a criminal.
  • “If you don’t like him, you don’t like the current S.E.C., then of course you’re just going to blame him, regardless of the facts,” Mr. Reiners said. “If Sam Bankman-Fried tried to get a meeting with the S.E.C., and Gary Gensler said absolutely not, I’ll never talk to you, the Republicans would’ve gone ballistic prior to the collapse.”
  • “Why we often separate these things out is so that the public is better protected about the inherent conflicts,” he said. “It’s really important to make sure that this field comes in, gets registered, gets regulated.”
  • In public remarks shortly after FTX imploded, Mr. Gensler argued that too many crypto companies performed multiple financial roles at the same time — like running an exchange and making trades, an apparent reference to the close relationship between FTX and Alameda.
  • The outcome will also draw attention in Congress, where a slate of crypto-related bills was introduced this year. When Mr. Gensler testified in front of the Senate Banking Committee in September, he was grilled by Republican senators, who said the S.E.C. was offering insufficient legal guidance to crypto companies that wanted to comply with federal law.“Not liking the answer from the S.E.C.,” he shot back, “doesn’t mean there isn’t guidance.”
Javier E

'The Blood Telegram,' by Gary J. Bass - NYTimes.com - 0 views

  • Things came to a head in December 1970, when Sheik Mujib-ur-­Rahman, a pipe-smoking Bengali leader, and his party, the Awami League, won the elections on the promise of autonomy for East Pakistan.
  • Gen. Agha Muhammad Yahya Khan, egged on by Zulfiqar Ali Bhutto, the second-place finisher, arrested Rahman and ordered the army to crush the Bengalis. Dominated by Punjabis, the army moved brutally, shooting and detaining Bengali leaders, intellectuals and anyone who opposed them.
  • Yahya, its military leader, became Nixon’s secret liaison with the Chinese leader Zhou Enlai. Yahya helped lay the groundwork for the visits to China by Kissinger and then Nixon. It’s hard to overstate just how earth-changing Nixon and Kissinger regarded their trips to China — and how important they thought they were for bringing them about.
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  • Bass has unearthed a series of conversations, most of them from the White House’s secret tapes, that reveal Nixon and Kissinger as breathtakingly vulgar and hateful, especially in their attitudes toward the Indians, whom they regarded as repulsive, shifty and, anyway, pro-Soviet — and especially in their opinion of Indira Gandhi. “The old bitch,” Nixon called her. “I don’t know why the hell anybody would reproduce in that damn country but they do,” he said.
  • The men in the White House, however, not only refused to condemn Yahya — in public or private — but they also declined to withhold American arms, ammunition and spare parts that kept Pakistan’s military machine humming. Indeed, Nixon regarded the dictator with genuine affection. “I understand the anguish you must have felt in making the difficult decisions you have faced,” he told Yahya.
  • this meant that Yahya — a vain, shallow mediocrity — was suddenly considered indispensable, free to do whatever he wished in East Pakistan. With the White House averting its eyes, the largely Muslim Pakistani Army killed at least 300,000 Bengalis, most of them Hindus, and forced 10 million to flee to India
  • what is most telling is what they reveal about Nixon’s and Kissinger’s strategic intelligence. At every step of the crisis, the two men appear to have been driven as much by their loathing of India — West Pakistan’s rival — as by any cool calculations of power
  • By failing to restrain West Pakistan, they allowed a blood bath to unfold, and then a regional war, which began when Gandhi finally decided that the only way to stop the tide of refugees was to stop the killing across the border. That, in turn, prompted West Pakistan to attack India.
  • the recklessness of Nixon and Kissinger only got worse. They dispatched ships from the Seventh Fleet into the Bay of Bengal, and even encouraged China to move troops to the Indian border, possibly for an attack — a maneuver that could have provoked the Soviet Union. Fortunately, the leaders of the two Communist countries proved more sober than those in the White House. The war ended quickly, when India crushed the Pakistani Army and East Pakistan declared independence.
maddieireland334

Utah Senator says Flint doesn't need aid, blocks lead bill - 0 views

  • A Republican U.S. senator from Utah is holding up a federal funding package worth more than $100 million which could help address the issue of high lead levels found in Flint’s water, saying in a statement on Friday that no federal aid is needed at this time.
  • U.S. Sens. Debbie Stabenow and Gary Peters, both D-Mich., represented a “federalizing” of water infrastructure, objected to the bill, arguing the state has not directly asked Congress for any emergency spending and has its own surplus to spend if it needs money.
  • Stabenow, who worked with Peters for weeks to secure a group of Republican and Democratic cosponsors for the legislation, expressed surprise that Lee has placed a hold on the measure, which effectively keeps the Senate from voting on it, even though it is fully paid for.
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  • Stabenow and Peters say federal funding is needed to replace aging pipes in Flint and other parts of the infrastructure to ensure public safety and restore confidence in the water system in the Michigan city.
  • It would authorize the federal Drinking Water State Revolving Fund to make up to $100 million in grants between now and October 2017 "to any state that receives an emergency declaration ... to a public health threat from lead or other contaminants in a public drinking water system."
  • The bill also authorizes $50 million for public health — though that funding is not specific to Flint — including $17.5 million to monitor the health effects of lead contamination in municipal water, along with allowing Michigan to use other funding to repay earlier federal loans taken out by Flint for work on its water system.
  • While Lee said, however, that Gov. Rick Snyder hadn’t asked Congress to authorize emergency funds, that misses some of the nuances of the situation in Flint, where a lack of corrosion-control treatment when the city switched to the Flint River in April 2014 allowed lead to leach from aging water pipes.
  • Snyder initially requested that President Barack Obama declare a major disaster in Flint and provide more than $700 million for infrastructure repairs to pipes and the water system. But Obama turned down that request because federal law only allows for such declarations in the cases of natural disasters, fires or explosions.
  • “What is happening to the people of Flint, Michigan is a man-made disaster,” Lee said. “Congress has special mechanisms for emergency spending when it is needed. But to date Michigan’s governor has not asked us for any, nor have Michigan’s senators proposed any. Contrary to media reports, there is no federal ‘aid package’ for Flint even being considered.”
runlai_jiang

Trump Alienates Allies Needed for a Trade Fight With China - WSJ - 1 views

  • For President Donald Trump, this could be an opportunity to lead a coalition against China’s predatory trade behavior. Instead, he is threatening trade war with the countries that would make up such a coalition, over commodities that are much less vital to the U.S.’s economy and national security than the sectors threatened by China’s expropriation of intellectual property.
  • “Beijing has doubled down on its state capitalist model even as it has gotten richer,” Kurt Campbell and Ely Ratner, who both served in foreign-policy roles under former President Barack Obama, write in the current issue of Foreign Affairs. “Cooperative and voluntary mechanisms to pry open China’s economy have by and large failed.”
  • “Every year, competitors such as China steal U.S. intellectual property valued at hundreds of billions of dollars,” his national security strategy declared last December. “China is gaining a strategic foothold in Europe by expanding its unfair trade practices and investing in key industries, sensitive technologies, and infrastructure.”
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  • In January 2017, Mr. Obama’s administration launched a case at the WTO against China for subsidizing aluminum
  • Mr. Trump has failed to follow up. Last week, Mr. Trump invoked a little-used 1962 statute to promise tariffs of 25% on imported steel and 10% on aluminum, ostensibly for national security, a factor that led his chief economic adviser, Gary Cohn, to announce his resignation Tuesday.
  • Chinese forced technology transfer, commercial espionage and intellectual-property theft, all aimed at creating Chinese champions in key industries by 2025
  • Yet China exports little steel to the U.S. because of existing duties and accounts for just 11% of its aluminum imports, far behind Canada. The Commerce Department argued for a global remedy because Chinese production depresses global prices and drives foreign producers out of third markets, and they then ship to the U.S.
  • This means the pain of Mr. Trump’s tariffs will fall not on China but on actors that play by the rules, including Canada, Japan and the European Union.
  • When the EU threatened to retaliate, Mr. Trump said he would escalate by raising duties on European cars.
  • It noted that since 2003 China has four times promised to address overcapacity in steel production, as its actual capacity quadrupled to roughly half the world total. “The crisis confronting the U.S. aluminum industry is China, plain and simple,” one industry group told the department.
  • The U.S. is preparing a sweeping penalty against China, but it would be more effective if done jointly; otherwise, Beijing may simply persuade others to hand over their technology in exchange for Chinese sales or capital.
  • S., EU and Japan launched a joint WTO complaint against China for restricting exports of “rare earths,” which are vital to many advanced technologies.
  • In 2014, they won and China lifted its restrictions. One former U.S. trade official says the U.S. could create a similar united front against Chinese takeovers of technology companies: “That would get their attention.” Nor would it violate WTO rules, which are less restrictive on investment than tariffs, he said.
  • “We are much more likely to get our allies to work with us if we aren’t punishing them for selling us steel that our consumers want to buy.”
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    Trump's tariffs may force allies to incline to Chinese technologies and steel products, further weakening American trade status.
malonema1

What Trump Means When He Calls Gary Cohn a 'Globalist' - The Atlantic - 0 views

  • The term “globalist” is a bit like the term “thug.” It’s an epithet that is disproportionately directed at a particular minority group. Just as “thug” is often used to invoke the stereotype that African Americans are violent, “globalist” can play on the stereotype that Jews are disloyal. Used that way, it becomes a modern-day vessel for an ancient slur: that Jews—whether loyal to international Judaism or international capitalism or international communism or international Zionism—aren’t loyal to the countries in which they live.
  • It’s possible to use the term “globalist”—even about a Jew—innocently, just like it’s possible to use the term “thug” about an African American with no racist intent. And perhaps that’s what Trump was doing when he applied it to Cohn. The problem is that this requires giving Donald Trump a benefit of the doubt that he forfeited long ago.
  • When Trump uses anti-Semitic language, his defenders often counter that his daughter, son-in-law, and grandchildren are Orthodox Jews. Sure, but even bigots contain multitudes. Trump may feel genuine affection for Jared Kushner, and likely Gary Cohn too. But that doesn’t change the fact that he employs anti-Semitic tropes in ways that make him almost unique among contemporary American politicians. After all, history is filled with politicians who fomented anti-Semitism yet enjoyed warm relationships with individual Jews.
Javier E

A Key G.O.P. Strategy: Blame China. But Trump Goes Off Message. - The New York Times - 0 views

  • The strategy could not be clearer: From the Republican lawmakers blanketing Fox News to new ads from President Trump’s super PAC to the biting criticism on Donald Trump Jr.’s Twitter feed, the G.O.P. is attempting to divert attention from the administration’s heavily criticized response to the coronavirus by pinning the blame on China.
  • Republicans increasingly believe that elevating China as an archenemy culpable for the spread of the virus, and harnessing America’s growing animosity toward Beijing, may be the best way to salvage a difficult election.
  • Mr. Trump’s own campaign aides have endorsed the strategy, releasing an attack ad last week depicting Joseph R. Biden Jr., the presumptive Democratic nominee, as soft on China. The ad relied heavily on images of people of Asian descent, including former Gov. Gary Locke of Washington, who is Chinese-American, and it was widely viewed as fanning the flames of xenophobia.
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  • “Trump has always been successful when he’s had a bogeyman and China is the perfect bogeyman,” said Chris LaCivita, a longtime Republican strategist.
  • Eager to continue trade talks, uneasy about further rattling the markets and hungry to protect his relationship with President Xi Jinping at a moment when the United States is relying on China’s manufacturers for lifesaving medical supplies, Mr. Trump has repeatedly muddied Republican efforts to fault China.
  • Pressed on how he could criticize the World Health Organization for what he called pushing “China’s misinformation,” after he had also lavished praise on Beijing’s purported transparency, he responded, “Well, I did a trade deal with China, where China is supposed to be spending $250 billion in our country.”
  • “I’d love to have a good relationship with China,” he added.
  • On a conference call with reporters, Antony J. Blinken, a senior Biden adviser, noted that in January and February “the president praised China and President Xi more than 15 times.” He attributed the flattery to the administration’s not wanting to “risk that China pull back on implementing” the initial trade agreement the two countries signed in January.
  • the rhetoric this time is far more pointed — with concern growing that it will fan xenophobia and discrimination against Asian-Americans.
  • Mr. Trump’s clashing comments on China illustrate not only his unreliability as a political messenger but also his longstanding ambivalence over how to approach the world’s second-largest economy. He ran for president four years ago vowing to get tough with China, but his ambition was not to isolate the Chinese but to work with them — and especially for the United States to make more money from the relationship.
  • polls show that Americans have never viewed China more negatively.
  • In a recent 17-state survey conducted by Mr. Trump’s campaign, 77 percent of voters agreed that China covered up the extent of the coronavirus outbreak, and 79 percent of voters indicated they did not think China had been truthful about the extent of infections and deaths,
  • those polling numbers also come as 65 percent of Americans say they believe that Mr. Trump was too late responding to the outbreak
  • More ominous for the president are some private Republican surveys that show him losing ground in key states like Michigan, where one recent poll has him losing by double digits, according to a Republican strategist who has seen it.
  • “This is the 9/11 of this generation,” said Mr. Hawley, adding that he hopes Mr. Trump “keeps the pressure high.”
  • Few Republicans have been more outspoken than Mr. Cotton, an Arkansan who was warning about the virus at the start of the year when few lawmakers were paying attention, and has been urging Senate candidates to make China a centerpiece of their campaigns.
  • Fortified by private polling his campaign conducted last year for his own re-election showing bipartisan disdain for China, Mr. Cotton’s top aides approached aides to Mr. Trump’s campaign last month and told them they planned to air an ad in Ohio, a few days before its scheduled primary, attacking Mr. Biden over China.
  • the president’s eldest son, Donald Jr., posted the spot on Twitter and sought to stamp a new nickname on the former vice president: “BeijingBiden.”
  • Brian O. Walsh, the president of America First Action, said the strategy builds on years of voter concerns about China.“The China piece of this was part of the overall thinking far before coronavirus, because we knew its potency and its relevance,” Mr. Walsh said. “This just made it more potent and more relevant.”
Javier E

Is the Marriage Between Democracy and Capitalism on the Rocks? - The New York Times - 0 views

  • Wolf, the chief economics commentator for The Financial Times, worries that after an efflorescence of democratic capitalism, “that delicate flower” is beginning to wither. Most of his ire is directed at an unhinged financial system that has encouraged a “rentier capitalism” and a “rigged” economy.”
  • “Capitalism cannot survive in the long run without a democratic polity, and democracy cannot survive in the long run without a market economy,” he writes. Capitalism supplies democracy with resources, while democracy supplies capitalism with legitimacy
  • Not so, insists Martin Wolf in his new book, “The Crisis of Democratic Capitalism.
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  • What Friedman believed in was capitalism, or what he called “economic freedom.” Political freedom might come — but capitalism, he said, could do just fine without it.
  • the corporate funders of “Free to Choose” set out to make their case.
  • it was still a time when capitalism’s most enthusiastic supporters evidently felt the need to win the public over to a vision of free markets and minimal government
  • The documentary series “Free to Choose,” which aired on public television in 1980
  • He and other observers are trying to make sense of what might happen next — and, befitting our current bewilderment, they offer a range of perspectives. Some, like Wolf, hope the relationship can be repaired; others argue that the pairing has always been fraught, if not impossible.
  • he has also read his Marx and Engels, looking askance at their solutions while commending them for how “brilliantly” they described capitalism’s relentlessness and omnivorousness. Left to its own devices, capitalism expands wherever it can, plowing its way through national boundaries and local traditions — making it marvelously dynamic or utterly ruinous, and not infrequently both.
  • In Wolf’s case, his anguished tone reflects the scale of his own disillusionment. Born in 1946 in postwar England, he recalls in his preface how “the world seemed solid as I grew up.” He describes the feelings of “confidence” in democracy and capitalism that flourished with the collapse of the Soviet Union
  • Yet the “democratic capitalism” that Wolf wants to preserve was, even by his own lights, short-lived. Democracy itself — or “liberal democracy” with universal suffrage, which Wolf says is the kind of democracy he means — is a “political mayfly.” Democratic capitalism ended, in his account, with the financial crisis of 2008
  • Robert Reich has offered another measure, arguing that democratic capitalism, at least in the United States, began with Franklin D. Roosevelt’s New Deal and ended with Reagan, when “corporate capitalism” took over.
  • The left-wing German sociologist Wolfgang Streeck stakes out a decidedly different position, suggesting that the tendency to equate “democratic capitalism” with a few decades of postwar plenty is to misinterpret a “historical compromise between a then uniquely powerful working class and an equally uniquely weakened capitalist class
  • In “How Will Capitalism End?” (2016), Streeck argues that it’s not compromise but the cascade of crises following the postwar boom — inflation, unemployment, market crashes — “that represents the normal condition of democratic capitalism.” Where Wolf wistfully invokes a “delicate flower,” Streeck writes contemptuously of a “shotgun marriage.”
  • the historian Gary Gerstle explores in his fascinating and incisive “The Rise and Fall of the Neoliberal Order” (2022). Before the New Deal order started to falter in the late 1960s and ’70s, Gerstle writes, a majority of Americans believed that capitalism should be managed by a strong state; in the neoliberal order that followed, a majority of Americans believed that the state should be constrained by free markets. Each order began to break down when its traditional ways of solving problems didn’t seem to work
  • capitalism, according to Naomi Oreskes and Erik M. Conway, has obtained the status of civic religion. In “The Big Myth: How American Business Taught Us to Loathe Government and Love the Free Market,” the authors argue that industry groups and wealthy donors have engaged in a concerted campaign to promote “market fundamentalism” — “a vision of growth and innovation by unfettered markets where government just gets out of the way.”
  • The main implication of “The Big Myth” seems to be that “market fundamentalism” is so horrifically egregious — enriching the few and despoiling the planet — that Americans had to be plied with propaganda to believe in it.
  • as Gerstle’s book shows, neoliberal ideas proved so seductive because they also happened to dovetail with the stories that Americans wanted to tell about themselves, emphasizing individuality and freedom.
  • A new generation of swashbuckling billionaires entertain the prospect of secession, using their money to realize fantasies of escape, whether through seasteading or spaceships. The book quotes one seasteading enthusiast declaring, “Democracy is not the answer,” but merely “the current industry standard.”
  • Slobodian’s excellent if discomfiting new book, “Crack-Up Capitalism” (forthcoming in April), explores other neoliberal evasions of the nation-state: tax havens, special economic zones, gated communities — enclaves that are “freed from ordinary forms of regulation.
  • in “Globalists” (2018) the historian Quinn Slobodian argues that neoliberals have found ways not just to liberate markets but to “encase” them in international institutions, thereby shielding capitalist activities from democratic accountability. He observes that neoliberals were especially alarmed after World War II by decolonization, adopting a condescending “racialized language” that pitted “the rational West,” with its trade rules and property laws, against a postcolonial South, “with its ‘emotional’ commitment to sovereignty.”
Javier E

Some Silicon Valley VCs Are Becoming More Conservative - The New York Times - 0 views

  • The circle of Republican donors in the nation’s tech capital has long been limited to a few tech executives such as Scott McNealy, a founder of Sun Microsystems; Meg Whitman, a former chief executive of eBay; Carly Fiorina, a former chief executive of Hewlett-Packard; Larry Ellison, the executive chairman of Oracle; and Doug Leone, a former managing partner of Sequoia Capital.
  • But mostly, the tech industry cultivated close ties with Democrats. Al Gore, the former Democratic vice president, joined the venture capital firm Kleiner Perkins in 2007. Over the next decade, tech companies including Airbnb, Google, Uber and Apple eagerly hired former members of the Obama administration.
  • During that time, Democrats moved further to the left and demonized successful people who made a lot of money, further alienating some tech leaders, said Bradley Tusk, a venture capital investor and political strategist who supports Mr. Biden.
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  • after Mr. Trump won the election that year, the world seemed to blame tech companies for his victory. The resulting “techlash” against Facebook and others caused some industry leaders to reassess their political views, a trend that continued through the social and political turmoil of the pandemic.
  • The start-up industry has also been in a downturn since 2022, with higher interest rates sending capital fleeing from risky bets and a dismal market for initial public offerings crimping opportunities for investors to cash in on their valuable investments.
  • Some investors said they were frustrated that his pick for chair of the Federal Trade Commission, Lina Khan, has aggressively moved to block acquisitions, one of the main ways venture capitalists make money. They said they were also unhappy that Mr. Biden’s pick for head of the Securities and Exchange Commission, Gary Gensler, had been hostile to cryptocurrency companies.
  • Last month, Mr. Sacks, Mr. Thiel, Elon Musk and other prominent investors attended an “anti-Biden” dinner in Hollywood, where attendees discussed fund-raising and ways to oppose Democrats,
  • Some also said they disliked Mr. Biden’s proposal in March to raise taxes, including a 25 percent “billionaire tax” on certain holdings that could include start-up stock, as well as a higher tax rate on profits from successful investments.
  • “If you keep telling someone over and over that they’re evil, they’re eventually not going to like that,” he said. “I see that in venture capital.”
  • Some tech investors are also fuming over how Mr. Biden has handled foreign affairs and other issues.
  • Mr. Andreessen, a founder of Andreessen Horowitz, a prominent Silicon Valley venture firm, said in a recent podcast that “there are real issues with the Biden administration.” Under Mr. Trump, he said, the S.E.C. and F.T.C. would be headed by “very different kinds of people.” But a Trump presidency would not necessarily be a “clean win” either, he added.
  • Mr. Sacks said at the tech conference last week that he thought such taxes could kill the start-up industry’s system of offering stock options to founders and employees. “It’s a good reason for Silicon Valley to think really hard about who it wants to vote for,” he said.
  • “Tech, venture capital and Silicon Valley are looking at the current state of affairs and saying, ‘I’m not happy with either of those options,’” he said. “‘I can no longer count on Democrats to support tech issues, and I can no longer count on Republicans to support business issues.’”
  • Ben Horowitz, a founder of Andreessen Horowitz, wrote in a blog post last year that the firm would back any politician who supported “an optimistic technology-enabled future” and oppose any who did not. Andreessen Horowitz has donated $22 million to Fairshake, a political action group focused on supporting crypto-friendly lawmakers.
  • Venture investors are also networking with lawmakers in Washington at events like the Hill & Valley conference in March, organized by Jacob Helberg, an adviser to Palantir, a tech company co-founded by Mr. Thiel. At that event, tech executives and investors lobbied lawmakers against A.I. regulations and asked for more government spending to support the technology’s development in the United States.
  • This month, Mr. Helberg, who is married to Mr. Rabois, donated $1 million to the Trump campaign
Javier E

Opinion | Are We on the Cusp of a New Political Order? - The New York Times - 1 views

  • Gary Gerstle: A political order is a way of thinking differently about political time in America. We focus so much on two-, four- and six-year election cycles. A political order is something that lasts beyond particular elections, that refers to the ability of one political party to arrange a constellation of policies, constituencies, think tanks, candidates, individuals who come to dominate politics for extended periods of time. And their dominance becomes so strong that the opposition party feels compelled — if they still want to remain real players in American politics — it compels them to acquiesce and to come aboard the other political party’s platform.
  • They usually last 30 or 40 years. Economic crisis is usually involved in the emergence of a new order and the breakup of the old. Every political order also has not only an ideology but a vision of a good life in America.
  • What constitutes a good life? Because that becomes really important in terms of selling the virtues of that political order to a mass base, which is something that has to be won and sustained in American politics in order for a political order to exist and thrive.
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  • It was a revolutionary power that wanted to end capitalism everywhere, not just in the Soviet Union but all over Asia and Africa, North America, South America. They were gaining a lot of support in the decolonizing societies of Africa and Asia. America was not confident in the ability of its economy to have a permanent recovery from the Great Depression.
  • When I teach young people today, it’s hard for them to grasp the magnitude and the seriousness of the Cold War and how it shaped every aspect of American life. And the Soviet Union represented an existential threat to the United States.
  • What coheres to the New Deal is that the Republicans eventually submit to it. And that happens when Gen. Dwight D. Eisenhower beats Senator Robert A. Taft. So tell me a bit about the counterfactual there that you think almost happened. What led to Taft losing prominence in the Republican Party, and what might have happened if he hadn’t?
  • he was slow to get on the bandwagon in terms of the threat of China, the threat of Communist expansion, and that opened up an opportunity for another candidate, by the name of Dwight D. Eisenhower, to enter the presidential race in 1952 and to present a very different vision.
  • He was a Republican in a classical sense — small central government, devolved power to the states, suspicious of foreign entanglements — believing that America was protected by the two vast oceans and thus did not need a strong standing army, did not have to be involved in world affairs. And he was opposed to the New Deal.
  • He thought it was a form of tyranny. It was going to lead to collectivism, Soviet style. And he was poised in the 1940s to roll back the New Deal, and he was looking forward to the postwar period after the war emergency had passed. Of course, the war emergency would require a very strong state to mobilize armed forces, to mobilize the economy for the sake of fighting a world war.
  • They needed foreign markets. America wasn’t sure whether it would have them. And the capitalist class in America was scared to death by the Communist threat, and it had to be met everywhere, and America mobilizes for the Cold War to contain Communism everywhere where it appeared. And that required a standing army in quasi-peacetime of a sort that America had never experienced before, and Taft was profoundly uncomfortable with this.
  • my counterfactual is that, absent the Cold War, the New Deal, which we now regard as such a juggernaut, would be seen as a momentary blip like so many other progressive moments in American politics. And we would see it as a blip and not for what it became, which was a political order that dominated politics for 30 years.
  • So there’s been this conventional story of the New Deal era, which is that the fear of Communism, the fear of being painted as soft on Communism or soft on socialism, leads progressives to trim their sails, moderates the sort of left flank of New Dealism. You argue that that story misses what’s happening on the right.
  • the imperative of fighting the Communists caused Republicans to make even larger concessions than the Democrats did.” What were those concessions?
  • Well, the biggest concession was agreeing to an extraordinary system of progressive taxation.
  • The highest marginal tax rate in the 1940s during World War II reached 91 percent, a level that is inconceivable in America of the 21st century. Eisenhower wins the election in 1952. He has both houses of Congress. And quite extraordinarily, Eisenhower maintains the 91 percent taxation rate
  • I think what mattered to him was the Cold War. The Cold War had to be fought on two fronts: It had to be fought militarily — international containment of Communism — and that required enormous expenditures on national defense, which meant not simply a conventional army but the nuclear arms race.
  • Eisenhower understood that in order to win the ideological struggle of the Cold War — which was not simply an American-Soviet struggle, but it was a global struggle to convince all the peoples of what was then called the Third World to come with the capitalist way, to come with the American way. In order for that to happen, America had to demonstrate that it could give its ordinary citizens a good life.
  • America had to prove that it had the better system, and that meant you could not return to unrestrained American capitalism — you had to regulate it in the public interest.
  • And the other aspect of that, which he appreciated, was that in the 1950s, it was not clear whether the Soviet Union or the United States could provide a better life for its average citizen. The Soviet Union was still doing quite well in the 1950s.
  • And that meant taking money from the rich and redistributing it, narrowing the inequality between rich and poor. It meant supporting powerful labor movement and not trying to roll back the Wagner Act, which the labor movement regarded as its Magna Carta, a very strong piece of federal legislation that gave it unambiguous rights to organize and obligated employers to bargain collectively with them.
  • He felt that this had to be the way that America went. Maintenance of Social Security — really all the key New Deal reforms — he ended up maintaining because he thought this would be a critically important instrument for convincing not just ordinary Americans but people around the world that this would prove the superiority of the American way.
  • That is why he acquiesced to the New Deal order.
  • It’s a pervasive recognition among America’s business class. You say, “The fear of Communism made possible the class compromise between capital and labor that underwrote the New Deal order.”
  • And you say it wasn’t just here; this was also true in many of the social democracies in Europe after World War II. Tell me a bit about that class compromise and the role the Cold War played in it.
  • It is often said that socialism was weaker in America than it was elsewhere. And in many respects, that has been true.
  • The corollary of that is that the American business class historically has been bigger, more powerful, more unencumbered than the business classes of other nations, especially in Western Europe among America’s industrial rivals. There was no shortage of labor protest in America, but rarely could labor achieve what it wanted to achieve because the resistance was extraordinary, the resistance was legal, it was extralegal.
  • The national security argument is crucial to getting large segments of the Republican Party on board. For them, the greatest threat, both internationally and domestically, was the Communist threat. And thus, they were willing to extend themselves beyond a point where they otherwise would have gone
  • I argue that it was the fear of the Soviet Union. And what did the fear of the Soviet Union represent? The expropriation of all corporate capital in the world. That was the Communist dream. And that was deeply felt. And it was felt not simply in a global setting. It was felt within the United States itself,
  • The history of industrial relations in America was very violent. The business class in America had a reputation of being very powerful and aggressive and unwilling to share its power with its antagonists. So what was it that got them to share that power?
  • it’s really remarkable to look at how closely the R. and D. state was designed and sold, in terms of its ability to keep America ahead for national defense. It has its roots in World War II, and it continues building much off that rhetoric.
  • so there’s this interesting way, I think we think of the New Deal in terms of Social Security. We think of it in terms of some of these individual programs. But it is this thoroughgoing expansion of the government into all kinds of areas of American life. And the thing that allows the Republican Party to get on board with a lot of that is this idea that if you don’t do that, well, the Soviets are going to do it
  • And the business class felt that it was in its interests to compromise with organized labor in a way that it had never done before. That was the grand compromise. It was symbolized in a treaty in Detroit between the three automobile makers, then among the biggest corporations in America, and the United Auto Workers — the Treaty of Detroit — purchasing labor peace by granting unions, good wages, good conditions, good pensions, good health care. Absent the threat of Communism, I think that grand compromise either would not have been arrived at or it would have been scuttled much sooner than it was.
  • they’re going to have the highways, or they’re going to have the technological or scientific superiority, they’re going to make it to the moon, etc., and then America is going to be left behind.
  • The vast education bills that are going to propel the tremendous growth of American universities in the 1960s and 1970s — which you mentioned about R. and D. — has a similar propulsion
  • the scale of this would not have reached the point that it did without getting a lot of Republicans on board. And the critical argument for them was national security, and a critical event was Sputnik, when Soviet Union shocks the United States by putting into orbit a satellite before the United States had done it.
  • that is a shocking moment: Oh, my God, America is falling behind. We must bend every muscle to beating the Soviet Union in every way, and that requires tremendous investments because of satellite technology and R. and D., and also that becomes the foundation of what is going to become the I.T. industry and the I.T. revolution — also a product of the Cold War.
  • How does that order end?
  • There are three factors that pull this order apart. The first is race, the second is Vietnam, and the third is the major economic recession of the 1970s.
  • Every political order has tensions within it in the United States. And the great contradiction in the New Deal Party of Franklin Roosevelt was the treatment of African Americans. In order to have a new political economy of a big state managing private capital in the public interest, Roosevelt had to get the South on board, and the South meant the white South.
  • And the entire promise of Western Europe prosperity and American university had been premised on the flow of unending supplies of very cheap Middle Eastern oil — most of them controlled by U.S. and British oil companies. And Saudi Arabia and other oil-producing nations in the 1970s say: No, these are our resources. We will determine how much is drawn out of the ground and the prices that they will be charged.
  • That was then complicated by Vietnam, a vastly unpopular war — inaugurated and presided over by Democratic presidents who were perceived by their own constituents to not be telling the truth about this awful quagmire.
  • It also inaugurated trade-offs between funding a war and funding Johnson’s beloved Great Society. Inflation began to take off.
  • the third element was profound changes in the international political economy. One of the reasons why America was able to enter its grand compromise between capital and labor and pay labor very high wages was that America had no serious industrial competition in the world from the ’40s to the ’60s.
  • Most of the industrialized world had been destroyed. The U.S. is actively helping the recovery of Western European economies, Japan, promoting development in Southeast Asia, and in the 1970s, these economies begin to challenge American supremacy economically. The symbol of that is the rise of Japanese car manufacturers
  • Roosevelt assented to that. But this was also a time, especially in the 1940s, when African Americans were migrating in huge numbers to the North, and they were becoming a constituency in the Democratic Party. This was the first point of crisis, and the Democratic Party found itself unable to contain the racial conflicts that exploded in the 1960s.
  • The quadrupling of oil prices leads to a profound economic crisis, along with competition from European nations against the United States. And this plunges the United States into a very unexpected and profound — and long — economic crisis known as stagflation. Inflation and unemployment are going up at the same time
  • None of the textbooks say this should be happening. The tools are no longer working. And it’s in this moment of crisis, the Democratic Party — this is the third strike against it — opens up an opportunity for alternative politics, an alternative party, an alternative plan for American political economy.
  • that sort of leaves out something that is happening among Democrats at this time. There’s a movement inside of liberalism. There’s the New Deal Democratic order, but you develop this New Left, and there is a movement of liberals against big government — young liberals for reasons of self-expression, for reasons of civil rights, for reasons of this feeling that they’re being fed into a bureaucracy and giant soulless organizations and eventually into the meat grinder of Vietnam
  • older liberals who are angry about the sort of reckless growth and the poisoning of streams and the building of highways through their communities and the sort of ticky-tacky rise of these suburbs. And this predates Reagan
  • Yes, the New Left erupts on university campuses in the 1960s, and the two primary issues in the beginning are race and Vietnam. But they also quite quickly develop a critique of the established order.
  • What was called at the time the system
  • what was the system? The system was large American corporations who were no longer under control. And one reason they were no longer under control is they were being aided and abetted by a large federal state that was supposed to manage them in the public interest
  • the system was meant to identify not just the corporations who were doing ill in America, but it was meant to identify a federal state that was birthed in the optimism of the New Deal and had been corrupted. So you have this fissure within the Democratic Party itself.
  • The other element of this is this profound search for personal freedom and autonomy that was intensely felt by members of the New Left.
  • The computers were these enormous machines, mainframes, and they were seen as stultifying to human creativity. The personal computer movement was born on — as part of the New Left. Steve Jobs, Stewart Brand imagined a personal computer that would be free of the IBM mainframe, free of big corporations, big corporate power — that it would be the authentic voice of only every individual who would be using that machine.
  • It was a profound expression of a desire for personal autonomy, individuality, expressiveness — unconstrained by larger structures. This cry, or cri de coeur, came from the left. It was a very powerful part of the New Lef
  • ne can see how it might suit the purposes of a rising neoliberal order because the rising neoliberal order was also intent on deregulating, freeing individuals from the grip of large institutions and allowing them to go their own way.
  • Neoliberals believe that the best economic program is one that frees capitalism from its shackles, that allows people to truck, barter and exchange goods, that gets the government out of economic life. And the only role for government is to ensure that markets can function freely and robustly. So it runs opposite to the New Deal. If the core principle of the New Deal was: Capitalism left to its own devices would destroy itself. The core principle of neoliberalism: Remove the shackles from capitalism. That will bring us the most productive and freest world we can imagine.
  • I have a shorthand for describing the neoliberal world that was envisioned by neoliberal thinkers and brought by policymakers into existence. It’s what I sometimes call the four freedoms of neoliberalism: freedom of movement, people; freedom of goods to move across national boundaries; the free flow of information; and the free flow of capital across all boundaries.
  • In a perfect neoliberal world, people, goods, information and capital are moving freely without constraint. If we can imagine a perfect world that The Wall Street Journal wants, this would be pretty close to it.
  • I do not want to suggest for a moment that the New Left intentionally created neoliberalism. But it turned out that the cries of freedom, personal freedom, personal autonomy that were emanating from them turned out to be very conducive to the economic philosophy of neoliberalism.
  • Jimmy Carter is an heir to suspicion of excessive federal power. But I also think he’s grasping at this moment a point of transition in the American economy and a sense that government policy as set forth in the New Deal was not working as well as it should have been. I think it mattered that he was an engineer and he was doing a lot of cost-benefit analysis: What kind of yield are we getting for the bucks that we’re investing?
  • so he’s open to this fertile moment of dissent. He’s channeling new thinkers and imagining a different Democratic Party that you are correct in saying precedes Clinton by 20 years. And the key figure in this movement is a man by the name of Ralph Nader.
  • I think as I evaluate the Carter presidency, I see a man really caught in the throes of a moment of transition, able to glimpse what is coming but unable to master what is coming
  • what defines his presidency, for me, is uncertainty, vacillation and, thus, failure. He’s a classical transitional figure, more controlled by than in charge of the moment.
  • Nader is a man of the left, but he doesn’t fit in the old left or the New Left.
  • We might call him a man of the consumer left. For him, the key figure in American society was the consumer, and he wanted to champion the consumer. And his contributions — in terms of automobile safety, occupational safety, food safety — were immens
  • But he also executed a profound shift in ideology, and I’m not even sure how aware he was of the consequences of what he was generating. Because in the process of making the consumer sovereign, he deflected attention, I would say, from what was and what remains the core relationship in a capitalist economy, and that is in the realm of production and the relations between employers and employees
  • And he was reluctant, in some respects, to challenge corporate power if corporate power was serving the consumer in a good way. He anticipates, in some respects, a profound shift in antitrust policy, and the key figure in this is going to be Robert Bork in the 1980s and 1990s.
  • It had been an article of faith in American history that no corporation should be allowed to get too large, because they would inevitably exercise power in an undemocratic fashion. So antitrust meant breaking up big corporations. Under Robert Bork, the question changed. Big corporate power was OK as long as it served the consumer with cheap goods.
  • he and his supporters and his organizations deserve a lot of credit for holding the government accountable and making vast improvements in a whole host of areas — regulating the environment and other matters, regulating food — and compelling government to do the service that it does.
  • But it also distracts from understanding part of that which powers the rise of large corporations and gives them the ability to control government and capture regulatory agencies. And I think the results of his attacks on government have been ambivalent, in terms of their consequences: in some respects really accelerating the process of delivering goods to the American people and American consumers that they want but, on the other hand, contributing to an atmosphere of thinking the government can’t really do much that’s right.
  • As you move toward Reagan, certainly part of Ronald Reagan’s appeal is his anti-Communism.So how do you describe the role of the Soviet Union in this period of political time?
  • The collapse of the Soviet Union between 1989 and 1991 is one of the most stunning events, I think, of the 20th century and arguably much longer.
  • What were its consequences? First, it opened up the whole globe to capitalist penetration, to a degree that had not been available to capitalism since prior to World War I. And this generates a tremendous amount of belief and excitement and expansion and a good deal of arrogance and hubris within the capitalist citadel, which is the United States. So that’s one major consequence.
  • The second major consequence is: What does it mean for Communism no longer to exist as a threat? And what we begin to see in the 1990s is capital in America regaining the power, assurance, authority, belief in its unilateral power that it had, across the years of the Cold War, if not sacrificed, then moderated.
  • hat the Soviet Union had promised, what Communism had promised, was that private enterprise could be superseded by rational planning on the part of an enlightened set of rulers who could manage the economy in a way that benefited the masses in extraordinary ways.
  • That whole project fails, and it fails in a spectacular fashion.
  • Ronald Reagan had insisted that there was a continuum between Soviet government tyranny and what he regarded as New Deal government tyranny. They were on the same spectrum. One inevitably led to another. He and other Republicans, George H.W. Bush, the party as a whole take this as a great vindication of their core beliefs: that capitalism, which, under the New Deal, was sharply constrained, should be freed from constraint; its animal spirits allowed to soar; venture capitalists encouraged to go everywhere; investments made easy; lower taxation; let capitalists and capital drive America and the world economy, unconstrained by regulation.
  • these were the core ideas of neoliberals, which have been incubating for decades. And now suddenly these ideas seem to be vindicated. This is the moment of free market triumph.
  • it intersects in a very powerful way with the ongoing I.T. revolution, which is also bound up with the Soviet Union’s collapse. Because the Soviet Union was very hostile to the personal computer because it required a degree, at that time, of personal freedom that the Soviet Union wasn’t willing to allow what the I.T. revolution represented in the 1990s. And this is one of the reasons that Democrats get on board with it. What it represented was a belief that market perfection was now within human grasp, that there may have been a need for strong government in the past, because knowledge about markets was imperfect, it was limited, it took time for information about markets to travel, a lot of it was wrong, not enough of it was available instantaneously.
  • Well, suddenly in the 1990s, you have this dream, this vision of all economic knowledge in the world being available at your fingertips instantaneously and with a degree of depth and a range of statistics and figures that had been unimaginable, and a techno-utopianism takes hold
  • it’s the intersection of these two vectors — a sense that the collapse of the Soviet Union vindicates free market thinking and the I.T. revolution — that allows people to think market perfection is within our grasp in ways it never has been before, that pours fuel on the fire of neoliberal free market thinking.
  • You described Bill Clinton as the Dwight D. Eisenhower of neoliberalism. What do you mean by that, and what are some of the, for you, core examples?
  • When Bill Clinton was elected in 1992, no Democratic U.S. president had been elected since 1976. Sixteen years is an eternity in electoral politics in the United States. And the question becomes: Will he roll back the Reagan revolution of the 1980s — massive efforts at deregulation — or will he follow a path that Dwight Eisenhower followed in the early ’50s?
  • Clinton, in the beginning, is a little uncertain about what he is going to do. And he has some ambitious proposals in his first two years — most notably a vast program of national health insurance, which crashes spectacularly.
  • And then he gets punished for that venture severely in the 1994 congressional elections, which bring Newt Gingrich and a very right-wing group of Republicans to power — the first time that Republicans control both houses of Congress since 1952. It’s a huge achievement for the Republicans
  • Clinton reads that moment as signifying that the older Democratic Party of the New Deal, of Franklin Roosevelt and Lyndon Johnson, really had to be reworked and revamped.
  • the only way for him to win re-election, and the only way for the Democrats to hold on to national power and to regain it in Congress in 1996, is for him to acquiesce to some core Reaganite beliefs. And at the center of the Reaganite project was deregulation — which is a code word for getting the government out of economic affairs or curtailing government power.
  • Archived clip of President Bill Clinton: We know big government does not have all the answers. We know there’s not a program for every problem. We know and we have worked to give the American people a smaller, less bureaucratic government in Washington. And we have to give the American people one that lives within its means. The era of big government is over.
  • so Clinton signs off on the Telecommunications Act of 1996, which effectively deregulates the burgeoning I.T. sector of the economy, makes possible an unregulated internet. He signs off on the repeal of the Glass-Steagall Act in 1999.
  • The Glass-Steagall Act had divided investment from commercial banking and had imposed a kind of regulation on Wall Street that brought an end to the crazy speculation that had brought about the Great Depression in the first place. It was a core principle of the New Deal
  • He does not seek to revive the Fairness Doctrine, in terms of regulating public media, which had guided successive Democratic administrations: the idea that if a news outlet put out one side of a debate on a policy matter, they were obligated to give the other side equal access.
  • He becomes an advocate of deregulation and, in some respects, pushes deregulation further than Reagan himself had been able to do. And in that sense, he acquiesces to some of the core principles of the Reagan revolution rather than seeking to roll them back, and it is in that respect that I think it’s appropriate to think of him as a Democratic Eisenhower.
  • what one remembers most about those battles is how much Clinton and Newt Gingrich hated each other’s guts. And they were seen as being polar opposites.
  • Clinton, the representative of a New Left America: cosmopolitan, open to the liberation movements, looking for new ways of creating a new and diverse America, embracing sexual liberations — his embrace of gay rights was somewhat limited but still significant. Newt Gingrich, on the other hand, representing traditional Victorian America, wanting to reassert the patriarchal, heterosexual family, men at work, women in the home, religious.
  • one of the surprises, to me, in working on this book, because I remember those days very well, was the degree to which they worked together — on telecommunication, on reform of Wall Street, on welfare.
  • Clinton would claim, and his defenders would claim, that he was triangulating. He was trying to make the best of a bad deal, that popular opinion was running with free markets, was running with the Republicans. And to some extent, that was true.
  • the lesson that I draw from that moment is that one must refrain from always getting sucked into the daily battles over cultural issues.
  • “cosmopolitanism.” Something that was fresh, to me, in your book was this argument that in neoliberalism, you’re looking at more than just what we typically think of it as, which is an economic theory. You argue that there is a moral ethic that came alongside it, that is part of it. You talk about it as, at various times, cosmopolitan, individualistic. Tell me about it.
  • “Neoliberalism” is often defined, as you say, simply as being about markets and freeing them up
  • And “neoliberalism” is also defined as something that’s profoundly elitist in orientation, and it’s a device and an ideology used by elites to implant market ideology on a society in ways that deepens economic inequality and has the ability to strangle the democratic rights of the masses.
  • I also say that in America, it had a profound popular base. Reagan was an enormously successful president, and by “success,” I mean he was able to excite the imagination of majorities of American voters, and his core message was freedom.
  • half the time he meant freedom in terms of a free enterprise economy, but the other half of the time he meant freedom in terms of giving individuals the autonomy to go their own way.
  • he was not a fan of the liberation movements of the ’60s. But when Clinton becomes president in the 1990s, he has a profound connection to those liberation movements of the 1960s — to feminism, to sexual liberation, to civil rights.
  • he detects in a world in which everyone can travel to wherever they want to go. He valorizes immigrants. He valorizes diversity. These are all values that are profoundly compatible with the neoliberal vision. The opportunity to travel anywhere, to seek out personal adventure, to seek out different cultures.
  • This is a world that neoliberalism makes possible, and it’s a thrilling moment for many people who have the opportunity either to mix in the world of American cities, which have filled up with immigrants, or to travel abroad and experience other cultures.
  • A single global marketplace enables and encourages the kind of cosmopolitanism that people on the left-center side of the political spectrum in America have so deeply valued.
  • you locate the end of this era in the financial crisis of 2008 and 2009. Why?
  • The promise of neoliberalism was that it would lift all boats. There was an acknowledgment about those who were freeing the energies of the market economy that it would probably increase inequality, the distance between the rich and the poor, but that the increase in inequality wouldn’t matter because the forces of production that would be unleashed on a global scale would be so powerful and so profound that everybody would have more and everybody would have a better life.
  • And what the 2008-9 financial crisis exposed was first a lot of the market freedom that neoliberalism had unleashed had led to corrupt banking and financial practices that had brought the world to the edge of financial abyss of unimaginable proportions. We ended up skirting that abyss — but not by a lot.
  • on the other hand, it brought into view a sense of how profoundly unequal the access to power was under the neoliberal regime. And here it’s not so much the financial crash itself but the nature of what governments did to promote recovery from the financial crash.
  • The object in the U.S. and also in Europe became to save the banks first. The culprits of this financial crisis were the ones who were bailed out first. If you were an American in 2009, 2010, 2011, who had assets in the stock market, you had pretty much recovered your position by 2011, 2012. If you were not one of those fortunate Americans and you were living week to week on a paycheck, your recovery did not occur.
  • You didn’t reach pre-2008 levels until 2016, 2017, 2018, and people understood, profoundly, the inequality of recovery, and it caused them to look with a much more scrutinizing gaze at the inequalities that neoliberalism had generated and how those inequalities have become so embedded in government policy toward the rich and the poor.
  • one of the identity crises in the Republican Party — one reason the Republican Party is not held together better — is that the Soviet Union was fundamental to what made its various factions stay in place. And it was also, I think, fundamental to what kept the Republican Party, which at its core has a real anti-government streak, committed in any way to real government.
  • hen I think there’s a sort of casting about for another enemy. I think they end up finding it after 9/11, or think they have, in what they try to turn into global jihadism, and then it falls apart — both as the antagonist and as a project and just feels to me like another part of the sort of wreckage of this period that opens a way for something new.
  • That new thing, I think, is more Donald Trump than it is anything else.
  • I think it discredits what had been a core project of the Republican Party, which was to spread market freedom everywhere. When I teach the Iraq war, I tell my 20-year-old students that this is the worst foreign policy mistake in U.S. history, that it’s going to take the U.S. and the world 50 years to recover from. And it’s imbued with a neoliberal hubris that everyone in the world is simply waiting for the wonders of a market economy to unleash, to be unleashed upon them.
  • OK, if that era ended, what is being born?
  • there’s also new zones of agreement that have emerged. When I think about the way I covered politics in 2010, the legitimacy of elections could be taken for granted, and the legitimacy of the Affordable Care Act could not.
  • I think it’s useful in this moment of acute polarization to look at some of what lies beneath the polarization.
  • you’re right: On a series of issues there are intriguing conversations going on between Democrats and Republicans. China and tariffs are one area of agreement.
  • Ironically, immigration is becoming another area of agreement, regardless of who wins the election. One can imagine that the bill agreed to in the Senate late in 2023 could easily be implemented in some form.
  • here is an area of convergence on antitrust. Josh Hawley and Lena Khan seem to like each other and are finding some common ground on that. And the national security hawks in the G.O.P., people like Marco Rubio and Mitch McConnell, have converged with what we might call the industrial policy doves in the Democratic Party — people like Bernie Sanders — on the importance of reshoring critical sectors of manufacturing and on improving in dramatic ways the nation’s infrastructure.
  • we can see here a new political economy taking shape, one that breaks with the central principle of neoliberalism, which is that markets must lead and the only role for a state is to facilitate markets.
  • another element of that, which has been crucial to the ideological reorientation, is a new understanding of the relationship of free markets to democracy.
  • for the longest period of time, Americans and Europeans were willing to give China a blank check on their democracy, or on their violations of democracy, because of the belief that if market freedom and capitalist practices set down deep enough roots in China that people with economic freedom would want to add to that political freedom and that democracy would begin to flourish and that the Communist Party that rules China would either have to profoundly reform itself or see itself ushered from the political stage.
  • It’s hard to convince people now of how deeply rooted that belief was. No one in the Democratic or Republican Parties believes that anymore, and that has intensified the fear along with this “Oh, my God” sense that China is not simply producing ordinary goods. It’s producing very sophisticated goods. It’s cornering markets on electrical vehicles and batteries and solar panels that seemed unimaginable 15 or 20 years ago. And it has had the effect of profoundly shocking both parties.
  • that has completely transformed and the word “protectionism” is not being used because it’s such a negative term, but the sentiments that lie behind protectionism, which might be described more positively as fair trade, are profoundly with us and shape conversation about U.S. economic relations with China every day of the week.
  • So the change has been profound in both parties, and one of the surprises of the Biden administration, although in retrospect, it’s not so surprising, given the Biden administration’s commitment to industrial policy, is the continuity we see between Trump tariffs and Biden tariffs.
  • hey’ve also come, in many cases, to the view that we should have much more industrial policy: the sense that if you leave it to the market, China might, by using the government to foster and supercharge certain kinds of market pursuits in China, just lap us. I think it’s become the dominant view in both parties.
  • I would agree with that, although I think the Republican Party is probably more deeply split on this than the Democratic Party is. The Democratic Party arranged another kind of grand compromise between the left, represented by Bernie Sanders, and the center, represented by Joe Biden, which led to a profound commitment symbolized by Build Back Better, a $5 trillion project that was going to insert industrial policy into the heart of government economic relations in a way that marks the Biden administration as profoundly different from his Democratic predecessors, both Obama and Clinton.
  • I think the Republican Party does not have agreement on that to the same degree. And one of the interesting things to watch if Trump wins is how that internal fight in the Republican Party works itself out.
  • So the sort of ideological strain in the Republican Party that JD Vance is part of, this sort of more populist dimension of it: What they see markets and, particularly, free trade and trade with China and immigration as having violated is the strength of communities and families. They look around, and they see broken communities, hollowed-out communities.They see families where the male breadwinners have lost their jobs and lost their earning power, and so they’re not getting married, and there are divorces, and there are too many single-parent families
  • on the Democratic side, I think there’s some of the same views. There’s a lot of broken communities.
  • a huge part participant in this ideologically is climate change: the sense that markets would happily make people rich by cooking the planet. The market doesn’t know if the money is coming from, the profit is coming from, burning oil or laying down solar panels. And so once again, that some goal actually does need to be set. Markets can maybe serve our goals. They can serve our vision, but they can’t be assumed to get what we want right in the world.
  • And so the sense on both parties that you actually do need to define goals and define vision and that, ultimately, that is going to have to happen through government setting policy and making decisions — the primacy of that kind of dialogue now, the degree to which the first conversation is: What are we trying to achieve? That does feel different.
  • that speaks to the decisive nature of the election of 2016, which we will see the longer we get from it as a decisive inflection point, as really marking the end of the neoliberal order
  • It doesn’t mean that suddenly there are no more advocates of strong free markets. I think one of the questions now and one of the key questions for the Republican Party is: Can they get serious about this?
  • It requires them to have a serious program of political economy in a party that has lacked direction on political economy for quite some time.
  • You describe the sort of neoliberal era as bringing this much more cosmopolitan view of ethics, of morals and of America’s relationship with the world — a more sort of urbanist view. There’s a lot of connections between what it means to live in New York and to live in London and to live in Tokyo and to live in Hong Kong.
  • JD Vance is a good example of this — are much more skeptical of the individualistic moral structure that dominated here and that Republicans, for all the influence of the Christian right, largely left untouched.
  • it’s actually very complicated in both parties because Donald Trump is himself such a poor vehicle for a return of traditionalist virtue. But there is something happening here, a sort of questioning of not just government policy and industrial policy but: Did all this individualism work? Is a world where kids are on their smartphones all the time and families are having this much trouble — and did we get something more fundamental, almost spiritual, wrong?
  • he concern about the moral fiber of the American people is not new in the Republican Party. That goes back to Jerry Falwell, to some of the ministers who became popular in the 1990s and calling America back to moral virtue and identifying enemies of God.
  • The new element is a sense that one has to connect that concern for this kind of morality to a serious program of political economy, that it’s not enough simply to call on people to be virtuous.
  • t serious conservatives have to find a way to rebuild the economic foundation that lies at the root of so much immorality and so much despair in American life.
  • If that develops enough of a base in the Republican Party, then there becomes an opportunity to talk with Democrats about that, about family welfare, about the welfare of children, about creating institutions, both economic and social, that have the capacity to sustain communities in ways in which they have not been sustained.
  • There are some issues that run so deeply on questions of morality between Republicans and Democrats, it’s hard to see how they can find common ground. And probably the most important of these is on the question of abortion and reproductive rights. And to the extent to which JD Vance and his associates take their stand on this issue, the possibilities for developing a conversation about morality with liberals and Democrats are going to be very, very slim, indeed.
  • the things that I think would have once been framed in terms of Christianity are now framed in terms of classical virtue. There’s a sort of rediscovery of the Stoics, not the early Christians.
  • there’s something here where — obviously, efforts to remoralize America are not new — but this idea that we have gone wrong in modernity by becoming so individualistic seems to be gathering a fair amount of force.
  • My read of it is that the Christian right is just too weak and not sufficiently appealing to be the vehicle for it. And so these other aesthetic and ancient containers are being searched for, but there is some kind of pushback happening
  • I think you see a lot of interest among people in both parties around some of these tech regulations. But I think of that as sort of fundamentally moralistic.
  • he Christian right has become somewhat contaminated by its blind adherence to Trump and by its too great a willingness to plunge into politics with any messenger, no matter what moral qualities they’re exhibiting.
  • That there is a movement among conservatives to step back from that and to ground their morality in something deeper, more widespread, something that can appeal to a greater cross-section of Americans, regardless of whether they go to church or not
  • If there is a moral awakening underway that is not tied to instrumentalizing churches for strictly partisan purposes, which is one way of describing evangelicalism in the last 20, 25 years, then that would be new.
  • Sarah Igo, “The Known Citizen” — very different kind of book — “A History of Privacy in Modern America.” We’re talking about morality, we’re talking about community, and of course, social media has put the question of privacy and what constitutes privacy and what’s private and what’s public — such an urgent question in understanding America. And she gives us a wonderful hundred-year overview of how Americans in almost every generation have redefined the boundary between private and public, and I found that extremely useful in thinking about where America is at in the 21st century.
Javier E

Russian propaganda effort helped spread 'fake news' during election, experts say - The ... - 0 views

  • The researchers used Internet analytics tools to trace the origins of particular tweets and mapped the connections among social-media accounts that consistently delivered synchronized messages. Identifying website codes sometimes revealed common ownership. In other cases, exact phrases or sentences were echoed by sites and social-media accounts in rapid succession, signaling membership in connected networks controlled by a single entity
  • PropOrNot’s monitoring report, which was provided to The Washington Post in advance of its public release, identifies more than 200 websites as routine peddlers of Russian propaganda during the election season, with combined audiences of at least 15 million Americans
  • On Facebook, PropOrNot estimates that stories planted or promoted by the disinformation campaign were viewed more than 213 million times.
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  • Some players in this online echo chamber were knowingly part of the propaganda campaign, the researchers concluded, while others were “useful idiots” — a term born of the Cold War to describe people or institutions that unknowingly assisted Soviet Union propaganda efforts
  • The Russian campaign during this election season, researchers from both groups say, worked by harnessing the online world’s fascination with “buzzy” content that is surprising and emotionally potent, and tracks with popular conspiracy theories about how secret forces dictate world events
  • Some of these stories originated with RT and Sputnik, state-funded Russian information services that mimic the style and tone of independent news organizations yet sometimes include false and misleading stories in their report
  • On other occasions, RT, Sputnik and other Russian sites used social-media accounts to amplify misleading stories already circulating online, causing news algorithms to identify them as “trending” topics that sometimes prompted coverage from mainstream American news organizations.
  • The speed and coordination of these efforts allowed Russian-backed phony news to outcompete traditional news organizations for audience.
  • other misleading stories in August about Clinton’s supposedly troubled health. The Daily Beast debunked a particularly widely read piece in an article that reached 1,700 Facebook accounts and was read online more than 30,000 times
  • But the PropOrNot researchers found that the version supported by Russian propaganda reached 90,000 Facebook accounts and was read more than 8 million times. The researchers said the true Daily Beast story was like “shouting into a hurricane” of false stories supported by the Russians.
  • The final weeks of the campaign featured a heavy dose of stories about supposed election irregularities, allegations of vote-rigging and the potential for Election Day violence should Clinton win
  • “The way that this propaganda apparatus supported Trump was equivalent to some massive amount of a media buy,”
  • “It was like Russia was running a super PAC for Trump’s campaign. . . . It worked.”
  • A former U.S. ambassador to Russia, Michael A. McFaul, said he was struck by the overt support that RT and Sputnik expressed for Trump during the campaign, even using the #CrookedHillary hashtag pushed by the candidate.
  • “They don’t try to win the argument,” said McFaul, now director of the Freeman Spogli Institute for International Studies at Stanford University. “It’s to make everything seem relative. It’s kind of an appeal to cynicism.”
  • “They use our technologies and values against us to sow doubt,” said Robert Orttung, a GWU professor who studies Russia. “It’s starting to undermine our democratic system.
  • The same tactics, researchers said, helped Russia shape international opinions about its 2014 annexation of Crimea and its military intervention in Syria, which started last year. Russian propaganda operations also worked to promote the “Brexit” departure of Britain from the European Union
  • “For them, it’s actually a real war, an ideological war, this clash between two systems,” said Sufian Zhemukhov, a former Russian journalist conducting research at GWU. “In their minds, they’re just trying to do what the West does to Russia.”
  • RT broadcasts news reports worldwide in several languages, but the most effective way it reaches U.S. audiences is online. Its English-language flagship YouTube channel, launched in 2007, has 1.85 million subscribers and has had a total of 1.8 billion views, making it more widely viewed than CNN’s YouTube channel
  • Though widely seen as a propaganda organ, the Russian site has gained credibility with some American conservatives. Trump sat for an interview with RT in September. His nominee for national security adviser, retired Lt. Gen. Michael T. Flynn, traveled to Russia last year for a gala sponsored by the network. He later compared it to CNN.
  • The content from Russian sites has offered ready fodder for U.S.-based websites pushing far-right conservative messages. A former contractor for one, the Next News Network, said he was instructed by the site’s founder, Gary S. Franchi Jr., to weave together reports from traditional sources such as the Associated Press and the Los Angeles Times with ones from RT, Sputnik and others that provided articles that often spread explosively online.
  • “The readers are more likely to share the fake stories, and they’re more profitable,” said Dyan Bermeo, who said he helped assemble scripts and book guests for Next News Network before leaving because of a pay dispute and concerns that “fake news” was crowding out real news.
  • In just the past 90 days — a period that has included the closing weeks of the campaign, Election Day and its aftermath — the YouTube audience of Next News Network has jumped from a few hundred thousand views a day to a few million, according to analytics firm Tubular Labs. In October alone, videos from Next News Network were viewed more than 56 million times
Javier E

Springtime for Scammers - The New York Times - 0 views

  • so far his economic policies are all about empowering ethically challenged businesses to cheat and exploit the little guy.
  • In particular, he and his allies in Congress are making it a priority to unravel financial reform — and specifically the parts of financial reform that protect consumers against predators.
  • Last week Mr. Trump released a memorandum calling on the Department of Labor to reconsider its new “fiduciary rule,” which requires financial advisers to act in their clients’ best interests
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  • He also issued an executive order designed to weaken the Dodd-Frank financial reform, enacted in 2010 in the aftermath of the financial crisis.
  • Why, after all, was the fiduciary rule created? The main issue here is retirement savings — the 401(k)’s and other plans that are Americans’ main source of retirement income over and above Social Security. To invest these funds, people have turned to financial professionals — but most probably weren’t aware that these professionals were under no legal obligation to give advice that maximized clients’ returns rather than their own incomes.
  • This is a big deal. A 2015 Obama administration study concluded that “conflicted investment advice” has been reducing the return on retirement savings by around one percentage point, costing ordinary Americans around $17 billion each year. Where has that $17 billion been going? Largely into the pockets of various financial-industry players.
  • why are consumer protections in the Trump firing line?
  • Gary Cohn, the Goldman Sachs banker appointed to head Mr. Trump’s National Economic Council — populism! — says that the fiduciary rule is like “putting only healthy food on the menu” and denying people the right to eat unhealthy food if they want it. Of course, it doesn’t do anything like that. If you want a better analogy, it’s like preventing restaurants from claiming that their 1400-calorie portions are health food.
  • Mr. Trump offers a different explanation for his hostility to financial reform: It’s hurting credit availability. “I have so many people, friends of mine that had nice businesses, they can’t borrow money.” I
  • Only 4 percent of the small firms surveyed by the National Federation of Independent Business report themselves unsatisfied with loan availability, a historic low.
Javier E

Can Liberal Christianity Be Saved? - NYTimes.com - 0 views

  • decline is the latest chapter in a story dating to the 1960s. The trends unleashed in that era — not only the sexual revolution, but also consumerism and materialism, multiculturalism and relativism — threw all of American Christianity into crisis, and ushered in decades of debate over how to keep the nation’s churches relevant and vital.
  • The most successful Christian bodies have often been politically conservative but theologically shallow, preaching a gospel of health and wealth rather than the full New Testament message.
  • The defining idea of liberal Christianity — that faith should spur social reform as well as personal conversion — has been an immensely positive force in our national life. No one should wish for its extinction, or for a world where Christianity becomes the exclusive property of the political right.
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  • liberal Christianity has simply collapsed. Practically every denomination — Methodist, Lutheran, Presbyterian — that has tried to adapt itself to contemporary liberal values has seen an Episcopal-style plunge in church attendance. Within the Catholic Church, too, the most progressive-minded religious orders have often failed to generate the vocations necessary to sustain themselves.
  • What should be wished for, instead, is that liberal Christianity recovers a religious reason for its own existence. As the liberal Protestant scholar Gary Dorrien has pointed out, the Christianity that animated causes such as the Social Gospel and the civil rights movement was much more dogmatic than present-day liberal faith. Its leaders had a “deep grounding in Bible study, family devotions, personal prayer and worship.” They argued for progressive reform in the context of “a personal transcendent God ... the divinity of Christ, the need of personal redemption and the importance of Christian missions.”
  • Today, by contrast, the leaders of the Episcopal Church and similar bodies often don’t seem to be offering anything you can’t already get from a purely secular liberalism.
Javier E

150 Years of Misunderstanding the Civil War - Tony Horwitz - The Atlantic - 0 views

  • n recent years, historians have rubbed much of the luster from the Civil War and questioned its sanctification. Should we consecrate a war that killed and maimed over a million Americans? Or should we question, as many have in recent conflicts, whether this was really a war of necessity that justified its appalling costs?
  • Unlike the revisionists of old, Goldfield sees slavery as the bedrock of the Southern cause and abolition as the war's great achievement. But he argues that white supremacy was so entrenched, North and South, that war and Reconstruction could never deliver true racial justice to freed slaves, who soon became subject to economic peonage, Black Codes, Jim Crow, and rampant lynching.
  • Nor did the war knit the nation back together. Instead, the South became a stagnant backwater, a resentful region that lagged and resisted the nation's progress. It would take a century and the Civil Rights struggle for blacks to achieve legal equality, and for the South to emerge from poverty and isolation.
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  • Emancipation and reunion, the two great results of this war, were badly compromised," Goldfield says. Given these equivocal gains, and the immense toll in blood and treasure, he asks: "Was the war worth it? No."
  • Gary Gallagher, a leading Civil War historian at the University of Virginia, argues that the long-reigning emphasis on slavery and liberation distorts our understanding of the war and of how Americans thought in the 1860s. "There's an Appomattox syndrome--we look at Northern victory and emancipation and read the evidence backward,"
  • Recent scholarship has also cast new light on the scale and horror of the nation's sacrifice.
  • hindsight has dimmed recognition of how close the Confederacy came to achieving its aims. "For the South, a tie was as good as a win," he says. It needed to inflict enough pain to convince a divided Northern public that defeating the South wasn't worth the cost. This nearly happened at several points, when rebel armies won repeated battles in 1862 and 1863. As late as the summer of 1864,
  • Allen Guelzo, director of Civil War studies at Gettysburg College, adds the Pennsylvania battle to the roster of near-misses for the South
  • Imagining these and other scenarios isn't simply an exercise in "what if" history, or the fulfillment of Confederate fantasy fiction. It raises the very real possibility that many thousands of Americans might have died only to entrench secession and slavery.
  • Very few Northerners went to war seeking or anticipating the destruction of slavery. They fought for Union, and the Emancipation Proclamation was a means to that end: a desperate measure
  • J. David Hacker, a demographic historian, has used sophisticated analysis of census records to revise the toll upward by 20%, to an estimated 750,000, a figure that has won wide acceptance from Civil War scholars. If correct, the Civil War claimed more lives than all other American wars combined
  • many historians, who cited the numbing totals of dead and wounded but rarely delved into the carnage or its societal impact.
  • That's changed dramatically with pioneering studies such as Drew Gilpin Faust's This Republic of Suffering, a 2008 examination of "the work of death" in the Civil War: killing, dying, burying, mourning, counting.
  • "When we go to war, we ought to understand the costs," she says. "Human beings have an extraordinary capacity to forget that
  • "When you incorporate these elements, the war looks less like a conflict over lofty principles and more like a cross-societal bloodletting."
  • Just as the fight against Nazism buttressed a moral vision of the Civil War, so too have the last decade's conflicts given us a fresh and cautionary viewpoint. "We should be chastened by our inability to control war and its consequences," Brundage says. "So much of the violence in the Civil War is laundered or sanctified by emancipation, but that result was by no means inevitable."
  • The last century's revisionists thought the war was avoidable because they didn't regard slavery as a defining issue or evil. Almost no one suggests that today. The evidence is overwhelming that slavery was the "cornerstone" of the Southern cause,
  • But Lincoln's proposals for compensated emancipation fell on deaf ears, even in wartime Delaware, which was behind Union lines and clung to only 2,000 slaves, about 1.5% of the state's population.
  • Nor is there much credible evidence that the South's "peculiar institution" would have peacefully waned on its own.
  • "It was stronger than it had ever been and was growing stronger."
  • Most historians believe that without the Civil War, slavery would have endured for decades, possibly generations.
  • We are commemorating the four years of combat that began in 1861 and ended with Union victory in 1865. But Iraq and Afghanistan remind us, yet again, that the aftermath of war matters as much as its initial outcome.
  • Looking backwards, and hitting the pause button at the Gettysburg Address or the passage of the 13th amendment, we see a "good" and successful war for freedom. If we focus instead on the run-up to war, when Lincoln pledged to not interfere with slavery in the South, or pan out to include the 1870s, when the nation abandoned Reconstruction, the story of the Civil War isn't quite so uplifting.
  • In some respects, the struggle for racial justice, and for national cohesion, continues still.
Javier E

Confusion Reigns At TNR On The Stimulus … For Good Reason | The New Republic - 0 views

  • In early 2009, the United States was engaged in an intense public debate over a proposed $800 billion stimulus bill designed to boost economic activity through government borrowing and spending. James Buchanan, Edward Prescott, Vernon Smith, and Gary Becker, all Nobel laureates in economics, argued that while the stimulus might be an important emergency measure, it would fail to improve economic performance. Nobel laureates Paul Krugman and Joseph Stiglitz, on the other hand, argued that the stimulus would improve the economy and indeed that it should be bigger. Fierce debates can be found in frontier areas of all the sciences, of course, but this was as if, on the night before the Apollo moon launch, half of the world’s Nobel laureates in physics were asserting that rockets couldn’t reach the moon and the other half were saying that they could. Prior to the launch of the stimulus program, the only thing that anyone could conclude with high confidence was that several Nobelists would be wrong about it.
  • we have no reliable way to measure counterfactuals—that is, to know what would have happened had we not executed some policy—because so many other factors influence the outcome. This seemingly narrow problem is central to our continuing inability to transform social sciences into actual sciences. Unlike physics or biology, the social sciences have not demonstrated the capacity to produce a substantial body of useful, nonobvious, and reliable predictive rules about what they study—that is, human social behavior, including the impact of proposed government programs.
  • recognition of our ignorance should lead us to two important, though tentative and imprecise, conclusions. First, we should treat anybody who states definitively that the result of stimulus policy X will be economic outcome Y with extreme skepticism. And weaseling about the magnitude of the predicted impact such that all outcomes within the purported range of uncertainty still magically lead to the same policy conclusion doesn’t count; we should recognize that we don’t even know at the most basic level whether stimulus works or not. Second, “boldness” in the face of ignorance should not be seen in heroic terms. It is a desperate move taken only when other options are exhausted, and with our eyes open to the fact that we are taking a wild risk. Actual science can allow us to act on counterintuitive predictions with confidence--who would think intuitively that it’s a smart idea to get into a heavy metal tube and then go 30,000 feet up into the air? But we don’t have this kind of knowledge about a stimulus policy. We are walking into a casino and putting $800 billion dollars down on a single bet in a game where we don’t even know the rules. In general, in the face of this kind of uncertainty, we ought to seek policy interventions that are as narrowly targeted as is consistent with addressing the problem; tested prior to implementation to whatever extent possible; hedged on multiple dimensions; and designed to be as reversible as is practicable. What I am trying to describe here is not a policy per se, but an attitude of epistemic humility.
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    The problem with forecasts in the social sciences, and a recommended implication.
Javier E

Is Sugar Toxic? - NYTimes.com - 1 views

  • Lustig is a specialist on pediatric hormone disorders and the leading expert in childhood obesity at the University of California, San Francisco, School of Medicine
  • If Lustig is right, then our excessive consumption of sugar is the primary reason that the numbers of obese and diabetic Americans have skyrocketed in the past 30 years. But his argument implies more than that. If Lustig is right, it would mean that sugar is also the likely dietary cause of several other chronic ailments widely considered to be diseases of Western lifestyles — heart disease, hypertension and many common cancers among them.
  • The viral success of his lecture, though, has little to do with Lustig’s impressive credentials and far more with the persuasive case he makes that sugar is a “toxin” or a “poison,” terms he uses together 13 times through the course of the lecture, in addition to the five references to sugar as merely “evil.” And by “sugar,” Lustig means not only the white granulated stuff that we put in coffee and sprinkle on cereal — technically known as sucrose — but also high-fructose corn syrup
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  • one particularly cherished aspect of our diet might not just be an unhealthful indulgence but actually be toxic, that when you bake your children a birthday cake or give them lemonade on a hot summer day, you may be doing them more harm than good, despite all the love that goes with it.
  • I’ve spent much of the last decade doing journalistic research on diet and chronic disease — some of the more contrarian findings, on dietary fat, appeared in this magazine —– and I have come to conclusions similar to Lustig’s.
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