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Javier E

The Grand Old Meltdown - POLITICO - 0 views

  • “I’m sorry, but I still don’t understand,” said one young man, his pitch a blend of curiosity and exasperation. “What do Republicans believe? What does it mean to be a Republican?”
  • You could forgive a 17-year-old, who has come of age during Donald Trump’s reign, for failing to recognize a cohesive doctrine that guides the president’s party. The supposed canons of GOP orthodoxy—limited government, free enterprise, institutional conservation, moral rectitude, fiscal restraint, global leadership—have in recent years gone from elastic to expendable.
  • Far more difficult is answering the question of what, quite specifically, has filled it.
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  • I decided to call Frank Luntz. Perhaps no person alive has spent more time polling Republican voters and counseling Republican politicians than Luntz, the 58-year-old focus group guru. His research on policy and messaging has informed a generation of GOP lawmakers. His ability to translate between D.C. and the provinces—connecting the concerns of everyday people to their representatives in power—has been unsurpassed. If anyone had an answer, it would be Luntz.
  • “You know, I don’t have a history of dodging questions. But I don’t know how to answer that. There is no consistent philosophy,” Luntz responded. “You can’t say it’s about making America great again at a time of Covid and economic distress and social unrest. It’s just not credible.”
  • Luntz thought for a moment. “I think it’s about promoting—” he stopped suddenly. “But I can’t, I don’t—” he took a pause. “That’s the best I can do.”
  • “Look, I’m the one guy who’s going to give you a straight answer. I don’t give a shit—I had a stroke in January, so there’s nothing anyone can do to me to make my life suck,” he said. “I’ve tried to give you an answer and I can’t do it. You can ask it any different way. But I don’t know the answer. For the first time in my life, I don’t know the answer.”
  • Every fourth summer, a presidential nominating convention gives occasion to appraise a party for its ideas, its principles, its vision for governing
  • Ronald Reagan’s party wanted to end the scourge of communism and slay the bureaucratic dragons of Big Government.
  • George W. Bush’s party aimed to project compassion and fortitude, educating poor Americans and treating AIDS-stricken Africans, while simultaneously confronting the advance of Islamic terrorism.
  • However flawed the policies, however unsuccessful their execution, a tone was set in these parties from the top-down.
  • Parties were supposed to be about ideas,” said Mark Sanford, the former South Carolina governor and congressman
  • “John Adams was an ornery guy, but he believed in his ideas. On the other side, Thomas Jefferson, he certainly didn’t live up to the ideas he espoused, but shoot, at least he talked about them. Nowadays, it’s just regression to the lowest common denominator on everything.
  • It can now safely be said, as his first term in the White House draws toward closure, that Donald Trump’s party is the very definition of a cult of personality. It stands for no special ideal. It possesses no organizing principle. It represents no detailed vision for governing. Filling the vacuum is a lazy, identity-based populism that draws from that lowest common denominator Sanford alluded to
  • “Owning the libs and pissing off the media,” shrugs Brendan Buck, a longtime senior congressional aide and imperturbable party veteran if ever there was one. “That’s what we believe in now. There’s really not much more to it.”
  • Everyone understands that Trump is a big-picture sloganeer—“Build the wall!” “Make America Great Again!”—rather than a policy aficionado. Even so, it’s astonishing how conceptually lifeless the party has become on his watch. There is no blueprint to fix what is understood to be a broken immigration system. There is no grand design to modernize the nation’s infrastructure. There is no creative thinking about a conservative, market-based solution to climate change. There is no meaningful effort to address the cost of housing or childcare or college tuition
  • None of the erstwhile bold ideas proposed by the likes of Newt Gingrich and Paul Ryan—term limits, a balanced budget amendment, reforms to Social Security and Medicare, anti-poverty programs—have survived as serious proposals. Heck, even after a decade spent trying to repeal the Affordable Care Act, Republicans still have no plan to replace it. (Trust me: If they did, you’d hear about it.)
  • When I called one party elder, he joked that it’s a good thing Republicans decided not to write a new platform for the 2020 convention—because they have produced nothing novel since the last one was written
  • The party is now defined primarily by its appetite for conflict, even when that conflict serves no obvious policy goal.
  • Even some of the president’s staunchest supporters concede Buck’s point in this regard
  • The result is political anarchy. Traditionally, the run-up to a convention sees a party attempting to tame rival factions and unite around a dynamic vision for the future. Instead, Republicans have spent the summer in a self-immolating downward spiral.
  • This is not a party struggling to find its identity. This is a party in the middle of a meltdown.
  • The verdict I’m rendering here is both observable in plain sight and breathtakingly obvious to anyone who has experienced the carnage up close.
  • Most of the party’s governing class sees perfectly well what is going on. They know exactly how bad t
  • hings are and how much worse they could yet be
  • these Republicans rue their predicament but see no way out of it. Like riders on a derailing roller coaster, they brace for a crash but dare not get off.
  • Having written the book on the making of the modern Republican Party, having spent hundreds of hours with its most powerful officials in public and private settings, I cannot possibly exaggerate the number of party leaders who have told me they worry both about Trump’s instability and its long-term implication for the GOP
  • There’s a reason Lindsey Graham called Trump “crazy,” a “bigot” and a “kook” who’s “unfit for office.” There’s a reason Ted Cruz called Trump “a pathological liar” and “a narcissist at a level I don’t think this country’s ever seen.” There’s a reason Marco Rubio observed that, “Every movement in human history that has been built on a foundation of anger and fear has been cataclysmic,” and warned of Trump’s rise, “This isn’t going to end well.”
  • To be a Republican today requires you to exist in a constant state of moral relativism, turning every chance at self-analysis into an assault on the other side, pretending the petting zoo next door is comparable to the three-ring circus on your front lawn.
  • The rest of the right-wing universe—conservative media, think tanks, activist organizations, financial networks, civic groups, voters themselves—has largely gone along for the ride, and for the same reason: “What about the Democrats?”
  • What all of these incidents and so many more have in common is that not a single American’s life has been improved; not a single little guy has been helped. Just as with the forceful dispersing of peaceful protesters in Lafayette Park—done so he could hold up a prop Bible for flashing cameras—Trump and his allies continue to wage symbolic battles whose principal casualties are ordinary people.
  • The spectacle is unceasing
  • Unsavory fringe characters have always looked for ways to penetrate the mainstream of major parties—and mostly, they have failed. What would result from a fringe character leading a party always remained an open question. It has now been asked and answered:
  • Some in the party have embraced the extreme, others in the party have blushed at it, but all of them have subjugated themselves to it. The same way a hothead coach stirs indiscipline in his players, the same way a renegade commander invites misconduct from his troops, a kamikaze president inspires his party to pursue martyrdom.
  • That is precisely what will be on display at this week’s Republican convention—martyrdom, grievance, victimhood.
  • It’s not that America won’t hear from serious Republicans who have real substance to offer, people like Senator Tim Scott and former U.S. Ambassador to the United Nations Nikki Haley. It’s that these two, along with the remnant of other sober-minded Republicans, are the new sideshow at a time when the old sideshow has moved to center stage.
  • Similarly, the problem for the party isn’t that the aforementioned complaints are entirely without merit. It’s that they form no part of a broader construct on which voters can be sold. This continues to be the bane of the GOP’s existence: The party is so obsessed with fighting that it has lost sight of what it’s fighting for.
  • “I think I have brought tremendous strength back to the party,” the president told me last year, arguing that previous GOP leaders lacked the stomach for gruesome political combat. There is no denying Trump has transformed the party from a country club debater into a barroom brawler. But to what end?
  • “Our central mission is to stand up for America. It’s to say loudly and proudly that we choose America. When I go around talking to Texans every single day, what I hear is that they’re proud of this country. And they want us to fight for this country. That’s what ties it all together for Republicans,” Roy said. “The people I talk to—even the ones who maybe get a little frustrated with the president—they look at him as someone who fights for this country.”
  • Roy is as close to a plainspoken conservative Republican as there is in Congress. I was curious to know how he would define today’s GOP.
  • The problem for Republicans is that most of the fights they’re picking nowadays are futile at best and foolhardy at worst. NASCAR? Confederate flags? Goya beans? Face masks? To the degree any of these issues move the needle politically, Republicans are on the wrong side of them. What’s worse, there is no connective tissue. There is no focus to the GOP’s incessant appetite for fighting. That’s how they wound up with Trump in the first place
  • “The GOP has been here before with John Birchers and it didn’t end well,” said Ben Sasse, the Nebraska senator who has been a vocal if terribly inconsistent Trump critic. “The party of Lincoln and Reagan ought to have something big and bold to offer the country, but it’s got way too many grifters selling grievance politics.”
  • To be clear, these grifters aren’t just shady party operatives and obscure congressional candidates. They are some of the president’s closest allies, people like Matt Gaetz,
  • If there is one principle driving Republican politicians today, it is that traditional American values—faith, patriotism, modesty, the nuclear family—are under siege
  • what’s fascinating to observe is the shift in priorities and proportionality. What was once a source of annoyance and frustration for one sect of the party, social conservatives, has turned into the dominant life force for the GOP
  • The good news for Republicans is that “grievance politics,” as Sasse describes it, continues to be highly effective in motivating their base. The bad news? It has diminishing returns when it comes to the many millions of persuadable voters in the middle. It’s also especially difficult for an incumbent party to sell grievance to the masses, as it amounts to a tacit acknowledgment of powerlessness.
  • Instead of downplaying the social upheaval, treating it as a fleeting phenomenon that will pass with time and promising better days ahead, they are highlighting it at every turn, claiming it’s a sneak preview of Biden’s America when it is, factually speaking, the feature presentation of Trump’s America.
  • The pressure is now entirely on Trump. And he won’t have much help
  • leading Republicans won’t be speaking on behalf of their party this week. Kasich already defected, endorsing Biden during a dramatic speech to the Democratic convention. And neither Romney nor Boehner nor either of the Bushes would speak even if asked. From what I’ve been told, none of them plan to vote for Trump this fall, and the chief reason they won’t say so publicly is they fear it would diminish their influence over the party moving forward.
  • A Republican collapse this fall—Biden wins the White House, Democrats flip the Senate and hold the House—would trigger a reckoning within the GOP every bit as sharp as the one associated with Obama’s takeover of Washington in 2008. If that occurs, much of the party’s pent-up irritation with Trump (which often masks long-simmering disgust with themselves) will spill over, and the efforts to expunge this ugly chapter of GOP history could commence with stunning ferocity.
  • There is no guarantee of this, however. Trump claims an intensity among his following that stacks up against any leader in American history. (“We’ve never seen anything like it,” Luntz said. “It’s like Elvis and the Beatles wrapped up in one.”
  • Overlooked is the real possibility that Trump could win. That Biden has not built a runaway lead despite enormous advantages—chief among them, the president’s poor playing of a terrible election-year hand—speaks to the effectiveness of Trump’s slash-and-burn mentality
  • “I actually find it kind of reassuring. With [George] McGovern in 1972, it was a colossal wipeout with a hugely mistaken candidate who was completely out of step with mainstream public opinion. Then in 1976, Jimmy Carter, an honest-to-goodness progressive, wins,” Brooks said. “I mean, Richard Nixon gets tossed out of office for blatant corruption. Everybody’s heading for the hills saying, ‘I never voted for him! I’m not a Republican!’ And six years later, Ronald Reagan wins and then gets reelected in one of the biggest landslides in history. These things can heal really, really fast.”
  • owever long Trump remains in office, whatever damage he does to the GOP, Brooks believes it will be temporary. It’s the “fundamental truth” of a two-party system, he said, that coalitions are constantly shifting, parties are continually renewing, politicians are eternally looking for ways to adapt and survive.
  • “Healthy parties need to build coalitions around a shared vision that speaks to all Americans,” Sasse told me. “Our current course is unsustainable. We’ve got a hell of a rebuilding ahead of us, whatever happens in November.”
Javier E

'The virus is moving in': why California is losing the fight against Covid | US news | ... - 0 views

  • By early summer, however, the pressure to open back up rose. Officials discovered the state wasn’t immune to the national fatigue with social distancing and mask-wearing. Amid a patchwork of haphazard rules and guidelines, cases crept up.
  • Today, most of California is back under lockdown amid a dramatic surge in infections. The state has tallied more than 1.3m cases, and broke a record last week with more than 25,000 infections recorded in a single day.
  • LA officials said that one person is now dying of Covid every 20 minutes, and the county’s public health director, Barbara Ferrer, broke down crying at a briefing while talking about the “incalculable loss” of more than 8,000 deaths.
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  • Staff on the frontlines say they are increasingly battling burnout after months of devastation and with a dark winter ahead. “I’ve seen younger people come in through the door, and be admitted right away to the ICU,”
  • It was frustrating that the public no longer seemed to be taking Covid protocols seriously, Santini said. “Every day we go to work, we’re putting our lives and our family’s lives on the line.”
  • “Even lower-risk activities now carry substantial risk because there is more virus out there than ever before. Simply put and bluntly put, we can’t get away with things that we’ve been able to get away with so far.”
  • Some restaurants have invested thousands in outdoor dining infrastructure they hoped would last them through the pandemic, only to see those facilities ordered to close.
  • the organization’s research has shown that 43% of restaurant owners are unsure whether their business will survive the next six months. “People who started out frustrated – today they are feeling just outright desperate.”
  • the latest Covid surge continues to shine a harsh light on inequality. California has seen record levels of unemployment and countless businesses have been shuttered for good, yet some sectors – notably the tech industry – have continued to rake in revenue.
  • post-pandemic, California could see a so-called “K-shaped recovery”, where the incomes of the highest earners continue to rise just as quickly as they plummet for those who are struggling.
  • Latinos in LA county, many of whom are working essential jobs, are also contracting the virus at more than double the rate of white residents. The toll in working-class neighborhoods has been especially devastating for undocumented people, who have been unable to access aid.
  • “We have the confluence of factors where people are facing financial instability, and feel like they have no choice but to work even if they get sick,” she said. “And particularly in California, we have a large population of undocumented people who have been demonized by the federal government and are especially vulnerable.”
kennyn-77

Will Libya Be Ruled by Another Qaddafi? - The New York Times - 0 views

  • Seif al-Islam el-Qaddafi was missing a thumb, dressed in a gown with gold fringes and hiding in a lavish home high in the hills of northwest Libya
  • son of the former Libyan dictator Col. Muammar el-Qaddafi
  • Then the Arab Spring came, and Seif instead joined the Qaddafi government’s brutal crackdown on the Libyan uprising. Soon after, he was captured by a rebel group and spent the following years in a kind of cave, cut off from the outside world.
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  • Libya has experienced a “period of profound instability and chaos,
  • foreign intervention, militia violence, economic chaos, an ongoing migration crisis and a civil war that has fractured control of Libya into disparate centers of power.
  • people naturally look for a strong leader,
  • It’s kind of hard to be president of a country,” Tarek said, “when you can’t do anything with the public
  • Seif faces an arrest warrant from the International Criminal Court and “fragmented support” from the country’s Green Movement
  • The country’s interim government is struggling to force out foreign fighters who have backed disparate sides of the Libyan conflict. And the elections, backed by the United Nations, face disputes over candidate eligibility, and the legal and constitutional basis of the balloting system. Additionally, experts say the elections will probably fail to address two key issues: the allocation of resources, including wealth from oil and gas, and a fractured national identity.
kennyn-77

Climate Change Poses a Widening Threat to National Security - The New York Times - 0 views

  • The Biden administration released several reports Thursday on climate change and national security, laying out in stark terms the ways in which the warming world is beginning to pose significant challenges to stability worldwide.
  • the first such document to look exclusively at the issue of climate, said that risks to American national security will grow in the years to come. After 2030, key countries will face growing risks of instability and need for humanitarian assistance, the report said.
  • The document makes three key judgments. Global tensions will rise as countries argue about how to accelerate reductions in greenhouse gas emissions; climate change will exacerbate cross-border flash points and amplify strategic competition in the Arctic; and the effects of climate change will be felt most acutely in developing countries that are least equipped to adapt.
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  • The document also states that China and India, with large populations, will play key roles in determining how quickly global temperatures rise.
  • When it comes to the odds of countries around the world meeting the commitment made at the 2015 climate conference in Paris to keep the rise in global temperatures to less than 2 degrees Celsius, the intelligence report said the odds were not good.
  • “High-emitting countries would have to make rapid progress toward decarbonizing their energy systems by transitioning away from fossil fuels within the next decade, whereas developing countries would need to rely on low-carbon energy sources for their economic development.”
  • That report said the military would begin to spend a significant portion of its next budget on climate analysis in its national security exercises and analysis.
  • ith deadly and destructive hurricanes driving migrants to leave their homes in Central America and flee to the United States through Mexico. This has overwhelmed border officials at times since 2014 and particularly during the last six months.
  • Beyond harming its basic infrastructure, droughts, fires and flooding can harm the Pentagon’s the performance of its aircraft, the ability to do testing activities and a host of training exercises.
  • moving to directly integrate concept of climate change as a threat multiplier into all aspects of defense strategy, planning, force posture and budget,”
  • cited the growing United States rivalry with China as an example of why the two issues are linked. “The Pentagon must bring a climate lens to its strategic assessment of Chinese foreign policy and behavior on the world stage,” said Ms. Sikorsky, who is now director of the Center for Climate and Security. “Otherwise it will get answers to key questions about China’s strength and strategy wrong.”
  • The department said climate change’s effect on the Northwest Passage, the waters between the Atlantic and Pacific oceans and through the Arctic Ocean, are already apparent. With the ice melting, the area has become easier to navigate and has opened it up to competition with Russia and China.
  • Its bases are vulnerable to flooding, fires, drought and rising sea levels. Flooding harmed the Navy Base Coronado during a particularly tough hurricane year, the Naval Air Station Key West was hit by severe drought several years ago and a wildfire in 2017 burned 380 acres on Vandenberg Air Force Base in Southern California, among myriad other examples.
  • looking at how climate change is already pushing people around the world to migrate, both within countries and between them. The report notes one forecast suggesting that climate change could lead to almost three percent of the populations of Latin America, South Asia and sub-Saharan Africa moving within their countries by 2050 — more than 143 million people.
  • “Even in the United States, one extreme event can result in a relatively high degree of permanent relocation of low-income populations exposed to chronic and worsening conditions over time,” the report says.
sidneybelleroche

Haiti kidnap: Gang wants $17 million ransom for American and Canadian missionaries, rep... - 0 views

  • The gang that kidnapped a group of 17 American and Canadian missionaries in Haiti has asked for $1 million each for their release
  • The 16 American citizens and one Canadian were kidnapped by the powerful "400 Mawozo" gang on Saturday after visiting an orphanage in Croix-des-Bouquets, a northeast suburb of the capital Port-au-Prince
  • the missionaries were being held in a safe house right outside the suburb by the gang
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  • The FBI and Haitian police are in contact with the kidnappers, adding that negotiations could take weeks
  • The kidnapped missionaries are affiliated with the Ohio-based Christian Aid Ministries, which confirmed the kidnapping on Sunday in a statement, saying the abducted group was made up of five men, seven women and five children.Read More
  • the five children abducted included an 8-month-old baby and minors ages 3, 6, 14 and 15.
  • Their abduction is part of a wave of indiscriminate kidnappings that has become more brazen as the country suffers from political instability, civil unrest, lack of quality healthcare and severe poverty.
  • The 400 Mawozo has been growing in strength for the past three years, numbering up to 150 members, and has essentially taken control of Croix des Bouquets
  • Kidnapping for ransom is a hallmark activity of the gang. They have abducted dozens of people this year alone, including foreign nationals
  • kidnappings have surged in Haiti this year -- with a nearly 300% increase since July, CARDH said.
  • The 400 Mawozo has typically demanded ransoms of around $20,000
Javier E

Opinion | Therapy Culture Has Undermined Our Maturity - The New York Times - 0 views

  • to trace the decline of the American psyche, I suppose I would go to a set of cultural changes that started directly after World War II and built over the next few decades, when writers as diverse as Philip Rieff, Christopher Lasch and Tom Wolfe noticed the emergence of what came to be known as the therapeutic culture.
  • In earlier cultural epochs, many people derived their self-worth from their relationship with God, or from their ability to be a winner in the commercial marketplace
  • in a therapeutic culture people’s sense of self-worth depends on their subjective feelings about themselves. Do I feel good about myself? Do I like me?
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  • many writers noticed that this ethos often turned people into fragile narcissists. It cut them off from moral traditions and the normal sources of meaning and identity. It pushed them in on themselves, made them self-absorbed, craving public affirmation so they could feel good about themselves
  • As Lasch wrote in his 1979 book, “The Culture of Narcissism,” such people are plagued by an insecurity that can be “overcome only by seeing his ‘grandiose self’ reflected in the attentions of others.”
  • “Plagued by anxiety, depression, vague discontents, a sense of inner emptiness, the ‘psychological man’ of the 20th century seeks neither individual self-aggrandizement nor spiritual transcendence but peace of mind, under conditions that increasingly militate against it.”
  • Fast forward a few decades, and the sense of lostness and insecurity, which Lasch and many others had seen in nascent form, had transmogrified into a roaring epidemic of psychic pain. By, say, 2010, it began to be clear that we were in the middle of a mental health crisis, with rising depression and suicide rates, an epidemic of hopelessness and despair among the young.
  • Social media became a place where people went begging for attention, validation and affirmation — even if they often found rejection instead.
  • Before long, safetyism was on the march. This is the assumption that people are so fragile they need to be protected from social harm. Slate magazine proclaimed 2013 “the year of the trigger warning.” Concepts like “microaggression” and “safe spaces” couldn’t have lagged far behind.
  • the elephantiasis of trauma
  • Once, the word “trauma” referred to brutal physical wounding one might endure in war or through abuse. But usage of the word spread so that it was applied across a range of upsetting experiences.
  • A mega-best-selling book about trauma, “The Body Keeps the Score,” by Bessel van der Kolk, became the defining cultural artifact of the era. Parul Sehgal wrote a perceptive piece in The New Yorker called “The Case Against the Trauma Plot,” noting how many characters in novels, memoirs and TV shows are trying to recover from psychological trauma — from Ted Lasso on down. In January 2022, Vox declared that “trauma” had become “the word of the decade,” noting that there were over 5,500 podcasts with the word in the title.
  • For many people, trauma became their source of identity. People began defining themselves by the way they had been hurt.
  • a culture war, and that’s what happened to the psychological crisis. In one camp, there were the coddlers.
  • They sought to alter behavior and reform institutions so that no one would feel emotionally unsafe
  • the coddling approach turned out to be counterproductive. It was based on a series of false ideas that ended up hurting the people it was trying to help.
  • the first bad idea in “The Coddling of the American Mind.” It was the notion that “what doesn’t kill you makes you weaker,” inducing people to look at the wounds in their past and feel debilitated, not stronger.
  • The second false idea was, “I am a thing to whom things happen.” The traumatized person is cast as a passive victim unable to control his own life. He is defined by suffering and
  • The third bad idea is, “If I keep you safe, you will be strong.”
  • But overprotective parenting and overprotective school administration don’t produce more resilient children; they produce less resilient ones.
  • The counterreaction to the coddlers came from what you might call the anti-fragile coalition. This was led by Jordan Peterson and thousands of his lesser imitators
  • they merely represented the flip side of the fragile victim mind-set.
  • The right-wing victimologists feel beset by hidden forces trying to oppress them, by a culture that conspires to unman them, dark shadowy conspiracies all around
  • recent right-wing narratives, even J.D. Vance’s “Hillbilly Elegy,” often follow the trauma formula: “Take the lamentations about atrophying manhood and falling sperm counts. Call it what you want, but the core idea is always shaped like trauma. Once, we were whole, but now we’re not; now we suffer from a sickness we struggle to grasp or name.”
  • The instability of the self has created an immature public culture — impulsive, dramatic, erratic and cruel. In institution after institution, from churches to schools to nonprofits, the least mature voices dominate and hurl accusations, while the most mature lie low, trying to get through the day.
  • They are considerate to and gracious toward others because they can see situations from multiple perspectives
  • The founders of the therapeutic ethos thought they were creating autonomous individualists who would feel good about themselves. But, as Lasch forecast: “The narcissist depends on others to validate his self-esteem. He cannot live without an admiring audience. His apparent freedom from family ties and institutional constraints does not free him to stand alone or to glory in his individuality. On the contrary, it contributes to his insecurity.”
  • Maturity, now as ever, is understanding that you’re not the center of the universe. The world isn’t a giant story about me.
  • In a nontherapeutic ethos, people don’t build secure identities on their own. They weave their stable selves out of their commitments to and attachments with others. Their identities are forged as they fulfill their responsibilities as friends, family members, employees, neighbors and citizens. The process is social and other-absorbed; not therapeutic.
  • Maturity in this alternative ethos is achieved by getting out of your own selfish point of view and developing the ability to absorb, understand and inhabit the views of others.
  • Mature people are calm amid the storm because their perception lets them see the present challenges from a long-term vantage.
  • People on all sides genuinely come to believe they are powerless, unwilling to assume any responsibility for their plight — another classic symptom of immaturity.
  • They can withstand the setbacks because they have pointed their life toward some concrete moral goal.
  • “one of the greatest indicators of our own spiritual maturity is revealed in how we respond to the weaknesses, the inexperience and the potentially offensive actions of others.”
  • a sign of maturity is the ability to respond with understanding when other people have done something stupid and given you the opportunity to feel superior.
Javier E

Opinion | What Japan's Economy Can Tell Us About China - The New York Times - 0 views

  • The timing of this Japan obsession was impeccable: It came at almost the exact moment Japan’s remarkable rise turned into a sustained decline in economic power. Here’s the ratio of Japan’s gross domestic product to America’s, adjusted for differences in purchasing power:
  • China has seemed to be faltering lately, and some have been asking whether China’s future path might resemble that of Japan.
  • My answer is that it probably won’t — that China will do worse. But to understand why I say that, you need to know something about what happened to Japan, which wasn’t at all the catastrophe I think many people imagine.
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  • Here’s the story you may have heard: In the late 1980s Japan experienced a monstrous stock and real estate bubble, which eventually burst. Even now, the Nikkei stock average is significantly below the peak it reached in 1989. When the bubble burst, it left behind troubled banks and an overhang of corporate debt, which led to a generation of economic stagnation.
  • There’s some truth to aspects of this story, but it misses the most important factor in Japan’s relative decline: demography. Thanks to low fertility and unwillingness to accept immigrants, Japan’s working-age population has been declining quite rapidly since the mid-1990s.
  • The only way Japan could have avoided a relative decline in the size of its economy would have been to achieve much faster growth in output per worker than other major economies, which it didn’t.
  • Adjusted for demography, Japan has achieved significant growth: It has seen a 45 percent rise in real income per relevant capita. The United States has done even better, but this hardly fits the narrative of Japanese stagnation.
  • there’s more. Managing an economy with a declining working-age population is difficult, because low population growth tends to lead to weak investment. This observation is at the heart of the secular stagnation hypothesis, which says that nations with weak population growth tend to have persistent difficulty in maintaining full employment.
  • Yet Japan has, in fact, managed to avoid mass unemployment, or indeed mass suffering of any kind. Here’s one indicator, the employed percentage of men in their prime working years:
  • This percentage has remained high in Japan; indeed, consistently higher than that of the United States.
  • What about young people? Japan did see a rise in youth unemployment (ages 15-24) in the 1990s, but that rise has since been reversed. Here, via the World Bank, are International Labor Organization estimates of youth unemployment in Japan and, since the subject is attracting attention, China:
  • So Japan’s economic performance since the days when everyone thought it would rule the world has actually been pretty good. It’s true that employment has been sustained in part through large deficit spending, and Japanese debt has shot up:
  • But people have been predicting a Japanese debt crisis for decades, and it hasn’t materialized. In some ways, Japan, rather than being a cautionary tale, is a kind of role model — an example of how to manage difficult demography while remaining prosperous and socially stable.
  • while this is hard to quantify, lots of people I’ve talked to say that Japanese society is far more dynamic and culturally creative than many outsiders realize. The economist and blogger Noah Smith, who knows the country well, says that Tokyo is the new Paris
  • having been taken around Tokyo by locals, I can confirm that the city has a lot of vitality.
  • True, that same language barrier means that Tokyo likely can’t play the same role in global culture that Paris once did. But the Japanese are clearly having great success with sophisticated urbanism; if you think of Japan as a tired, stagnant society, you’re getting it wrong.
  • Will China be the next Japan?
  • There are some obvious similarities between China now and Japan in 1990. China has a wildly unbalanced economy, with too little consumer demand, kept afloat only by a hypertrophied real estate sector, and its working-age population is declining
  • there are growing concerns that China may have fallen into the “middle-income trap” that seems to afflict many emerging economies, which grow rapidly but only up to a point, then stall out.
  • if China is headed for an economic slowdown, the interesting question is whether it can replicate Japan’s social cohesion — its ability to manage slower growth without mass suffering or social instability
  • is there any indication that China, especially under an erratic authoritarian regime, is capable of pulling this off? Note that China already has much higher youth unemployment than Japan ever did.
Javier E

Half of NYC Households Can't Afford to Live Here, Report Finds - The New York Times - 0 views

  • A full half of the city’s households did not have enough money to comfortably hold down an apartment, access sufficient food and basic health care, and get around, the report said
  • Public officials have been particularly alarmed by a significant drop in public school enrollment, which accelerated during the worst of the pandemic and is driven in part by Black families leaving the city over concerns about the cost of living
  • The study found that New Yorkers are even worse off than after the nadir of the pandemic. The groups’ 2021 report found that just over a third of city households could not keep up with the cost of living at the time, a figure that has since risen
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  • Households in all five boroughs needed to be pulling in at least $100,000 to afford housing, food and transportation, and to have a shot at being able to plan for the future
  • In southern Manhattan, home to some of the most expensive ZIP codes in the country, families with two adults and two children needed to make at least $150,000 combined
  • The actual median household income in the city was hovering around $70,000
  • a considerable majority of households that could not keep up with the cost of living — 80 percent — had at least one working adult, and more than half of New Yorkers who could not make ends meet had a college degree or some college credit, if not a graduate degree.
  • The affordability crisis is particularly urgent for nonwhite New Yorkers, the study found. Latino, Black and immigrant New Yorkers were bearing the brunt of the affordability crisis, and residents of the central Bronx had the highest rates of economic instability.
  • And more than 85 percent of households where single mothers were taking care of young children were unable to keep up with the cost of living
Javier E

Netanyahu's Dark Worldview - The Atlantic - 0 views

  • as Netanyahu soon made clear, when it comes to AI, he believes that bad outcomes are the likely outcomes. The Israeli leader interrogated OpenAI’s Brockman about the impact of his company’s creations on the job market. By replacing more and more workers, Netanyahu argued, AI threatens to “cannibalize a lot more jobs than you create,” leaving many people adrift and unable to contribute to the economy. When Brockman suggested that AI could usher in a world where people would not have to work, Netanyahu countered that the benefits of the technology were unlikely to accrue to most people, because the data, computational power, and engineering talent required for AI are concentrated in a few countries.
  • Netanyahu was a naysayer about the Arab Spring, unwilling to join the rapturous ranks of hopeful politicians, activists, and democracy advocates. But he was also right.
  • The other panelists did not. Brockman briefly pivoted to talk about OpenAI’s Israeli employees before saying, “The world we should shoot for is one where all the boats are rising.” But other than mentioning the possibility of a universal basic income for people living in an AI-saturated society, Brockman agreed that “creative solutions” to this problem were needed—without providing any.
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  • The AI boosters emphasized the incredible potential of their innovation, and Netanyahu raised practical objections to their enthusiasm. They cited futurists such as Ray Kurzweil to paint a bright picture of a post-AI world; Netanyahu cited the Bible and the medieval Jewish philosopher Maimonides to caution against upending human institutions and subordinating our existence to machines.
  • Musk matter-of-factly explained that the “very positive scenario of AI” is “actually in a lot of ways a description of heaven,” where “you can have whatever you want, you don’t need to work, you have no obligations, any illness you have can be cured,” and death is “a choice.” Netanyahu incredulously retorted, “You want this world?”
  • By the time the panel began to wind down, the Israeli leader had seemingly made up his mind. “This is like having nuclear technology in the Stone Age,” he said. “The pace of development [is] outpacing what solutions we need to put in place to maximize the benefits and limit the risks.”
  • “You have these trillion-dollar [AI] companies that are produced overnight, and they concentrate enormous wealth and power with a smaller and smaller number of people,” the Israeli leader said, noting that even a free-market evangelist like himself was unsettled by such monopolization. “That will create a bigger and bigger distance between the haves and the have-nots, and that’s another thing that causes tremendous instability in our world. And I don’t know if you have an idea of how you overcome that?”
  • This was less because he is a prophet and more because he is a pessimist. When it comes to grandiose predictions about a better tomorrow—whether through peace with the Palestinians, a nuclear deal with Iran, or the advent of artificial intelligence—Netanyahu always bets against. Informed by a dark reading of Jewish history, he is a cynic about human nature and a skeptic of human progress.
  • fter all, no matter how far civilization has advanced, it has always found ways to persecute the powerless, most notably, in his mind, the Jews. For Netanyahu, the arc of history is long, and it bends toward whoever is bending it.
  • This is why the Israeli leader puts little stock in utopian promises, whether they are made by progressive internationalists or Silicon Valley futurists, and places his trust in hard power instead
  • “The weak crumble, are slaughtered and are erased from history while the strong, for good or for ill, survive. The strong are respected, and alliances are made with the strong, and in the end peace is made with the strong.”
  • To his many critics, myself included, Netanyahu’s refusal to envision a different future makes him a “creature of the bunker,” perpetually governed by fear. Although his pessimism may sometimes be vindicated, it also holds his country hostag
  • In other words, the same cynicism that drives Netanyahu’s reactionary politics is the thing that makes him an astute interrogator of AI and its promoters. Just as he doesn’t trust others not to use their power to endanger Jews, he doesn’t trust AI companies or AI itself to police its rapidly growing capabilities.
Javier E

Britain's Guilty Men and Women - The Atlantic - 0 views

  • Today, Britain is very much not on the edge of national annihilation, whatever the hyperbolic coverage of the past few weeks might suggest. But it is in the grip of chaotic mismanagement that has left the country poorer and weaker, having lost its fourth prime minister in six turbulent years since the Brexit referendum and with an economy pushed close to its breaking point.
  • when did this era of the small people begin? What was its genesis?
  • He had also signed up to a new European treaty that left a fatal tension at the heart of Britain’s membership in the European Union. Major’s European compromise left Britain inside the European Union but outside its single currency. In time, the inherent tension in this position would reveal itself in disastrous fashion—the historian Niall Ferguson has called it “Brexit 1.0.”
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  • 1990 offers a deeper origin story. That was the year Margaret Thatcher was pulled from office and replaced by John Major, a man no one thinks of as a giant. Major inherited a country in a stronger position than at any time since the 1960s, yet handed over power to Tony Blair having frittered away the Conservative Party’s reputation for economic management.
  • The stars of the show were the three prime ministers before her—Boris Johnson, Theresa May, and David Cameron—with supporting roles for the former chancellor George Osborne and former Deputy Prime Minister Nick Clegg.
  • When Blair left office in 2007, the country was still relatively unified and prosperous. It fell to Gordon Brown, Blair’s replacement, to watch everything explode in the great financial crisis. All of these milestones—1990, 1997, and 2007—have legitimate claims to be the genesis of the current crisis. Yet none quite fits. The regime of little men had not begun. That came in 2010
  • For the past 12 years, Britain has been led by a succession of Conservative prime ministers—each, like Russian dolls, somehow smaller than the last—who have contrived to leave the country in a worse state than it was when they took over
  • Without Truss realizing it, Britain had become too weak to cope with a leader so small.
  • In this absurd hospital drama, there were also walk-on parts for two former Labour leaders, Ed Miliband and Jeremy Corbyn. And Boris Johnson is now attempting a comeback!
  • May was a serious, qualified, thoughtful Conservative who had opposed Brexit but now assumed responsibility for it. But she was simply not up to the job. Being prime minister requires not just diligence and seriousness but political acumen and an ability to lead. She had too little of either.
  • Both Cameron and Clegg had been elected leader of their respective parties through American-style primaries. Back then, such votes were lauded as “democratization,” much-needed medicine to treat an ailing old constitution. They were no such thing. Rather than injecting more democracy into the process, they did the opposite—empowering tiny caucuses to send their minority tribunes to challenge parliamentary rule.
  • Miliband would further “modernize” the process with rule changes that would send the party careering toward populist extremism and electoral annihilation under Jeremy Corbyn. In time, such institutional vandalism would have dire consequences for both the Conservative and Labour Parties, and therefore the country.
  • Cameron and Clegg went to work hacking back public spending with extraordinary severity. The result was that Britain experienced the slowest economic recovery in its history, which meant that the coalition government failed to balance the books as it had hoped—exactly, in fact, as Labour had warned would happen
  • Britain had bailed out the bankers and then watched them get rich while the rest of the country got poorer. No wonder people were angry.
  • Cameron began to panic about the threat to British interests from a more cohesive euro-zone bloc—which was an inevitable consequence of Major’s compromise. After Cameron’s demands for new safeguards to those interests were ignored, he vetoed the euro zone’s reforms. The euro zone went ahead with them anyway. One year into Cameron’s premiership, in 2011, the nightmare of British isolation within the EU had come true.
  • For the next five years, the British prime minister took a series of gambles that ended in disaster. Alarmed by his veto failure, Cameron concluded that Britain needed to renegotiate its membership entirely—and put it to voters in a referendum, which he promised in 2013. By then he had also agreed to a referendum on Scottish independence. Britain’s future was on the line not once but twice.
  • A year after his election victory, Cameron had to keep his promise of a referendum on Europe, lost, and resigned. As with the Scottish case, he had refused to countenance any preparations for the possibility of a winning Leave vote. Cameron left behind a country divided and a Parliament that did not want Brexit but was tasked with delivering it without any idea how. By any estimation, it was a catastrophic miscarriage of statecraft.
  • A second origin date, then, might be 1997, when Tony Blair came to power. Blair proved unable to change Major’s compromise and pursued instead a series of radical constitutional changes that slowly undermined the unity of the country he thought he was building.
  • May was hampered throughout her troubled final years as prime minister with a leader of the opposition in Jeremy Corbyn, who was ideologically hostile to any conciliation or compromise with the Tories, empowered by both his own sense of righteous purity and the mandate he had twice received from Labour Party members. He, after all, had a mandate outside Parliament.
  • Despite his brief tenure, Johnson remains one of the most influential—and notorious—figures in postwar British history. Without him, the country likely would not have voted for Brexit in the first place, let alone seen it pushed through Parliament.
  • In their first act in power, Truss and Kwarteng blew up the British government’s reputation for economic competence—and with it went the household budgets of Middle England.
  • Guilty Men was indeed something of a character assassination of Neville Chamberlain, Baldwin, and MacDonald, among others. Many historians now say these appeasers of the 1930s bought their country much-needed time.
  • each, unquestionably, left their country poorer, weaker, angrier, and more divided. Over the past 12 years, Britain has degraded. A sense of decay fills the air, and so, too, a feeling of genuine public fury.
Javier E

Climate Anxiety | Harvard Medicine Magazine - 0 views

  • A global survey published in Lancet Planetary Health in 2021 reported that among an international cohort of more than 10,000 people between the ages of 16 and 25, 60 percent described themselves as very worried about the climate and nearly half said the anxiety affects their daily functioning.
  • Since young people expect to live longer with climate-related crises than their parents will, “they feel grief in the face of what they’re losing,” Pinsky says.
  • Young survivors of weather-related disasters report high rates of PTSD, depression, sleep deficits, and learning issues.
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  • Nearly three quarters of the child and adolescent population in Pakistan experienced learning difficulties after widespread floods devastated the country in 2010.
  • For many young people, worry over threats of future climate change results in panic attacks, insomnia, obsessive thinking, and other symptoms
  • And those feelings are often amplified by a pervasive sense that older people aren’t doing enough to fix the climate problem. “There’s a feeling of intergenerational injustice,” says Lise Van Susteren, a general and forensic psychiatrist based in Washington, DC, who specializes in the mental health effects of climate change. “Many young people feel invalidated, betrayed, and abandoned.”
  • Research on effective interventions is virtually nonexistent, and parents and other people who want to help have little to go on. Professional organizations are only now beginning to provide needed resources.
  • News reports and researchers often refer to these feelings collectively as climate anxiety, or eco-anxiety, but Pinsky admits to having misgivings about the terms.
  • “Many people interpret anxiety as a pathological response that needs to be treated and solved,” she says. “But it’s also a constructive emotion that gives us time to react in the face of danger. And anxiety in the face of climate change is a healthy response to a real threat.”
  • others become progressively hyperaroused and panicky, Pinsky says, or else fall into a sort of emotional paralysis
  • Some people manage their climate-triggered emotions without spiraling into distress
  • These reactions can be especially debilitating for people who already struggle with underlying mental health disorders.
  • anxieties over climate change can interlace with broader feelings of instability over the pace of technological and cultural change,
  • “Technology is accelerating faster than culture can keep up, and humans in general are unmoored and struggling to adapt,” she says. “For some people, climate change is psychologically the last straw. You realize you can no longer count on the stability of your planet, your atmosphere — your very world.”
  • Van Susteren describes that anxiety as a type of pre-traumatic stress disorder, with few existing precedents in the United States apart from fears of nuclear annihilation and the decades-ago experience of living through classroom drills on how to survive an atom bomb attack.
  • Talk therapy for anxiety typically aims to help people identify and replace irrational thoughts, called cognitive distortions, with alternative thinking that isn’t so stressful. But since climate anxiety is based on rational fears, this particular approach risks alienating anyone who might feel their worries are being dismissed.
  • Younger people were increasingly arriving at Bryant’s office frightened, depressed, and confused about how to manage climate-triggered emotions. Some were even wondering if they should bring children into such a world.
  • “We’re not saying that anxiety is good or bad,” he says. “We just want to bring those feelings out into the open. It’s more about validating that climate concerns are reasonable given what we’re reading in the news every day.” Ann-Christine Duhaime
  • Emerging evidence suggests that young people do best by cultivating a sense of agency and hope despite their climate concerns.
  • getting to that point involves talking through feelings like despair, grief, or rage first. Without doing that, he says, many people get stuck in maladaptive coping strategies that can lead to burnout, frustration, or hopelessness. Bryant describes jumping into an urgent, problem-focused coping strategy as “going into action mode so you don’t have to feel any grief.”
  • Problem-focused coping has a societal benefit in that it leads to “pro-environmental behavior,” meaning that young people who engage in it typically spend a lot of time learning about climate change and focusing on what they can do personally to help solve the problem
  • But climate change is far beyond any one person’s control, and problem-focused coping can leave people frustrated by the limits of their own capacity and make them unable to rid themselves of resulting worry and negative emotions
  • she and her colleagues describe emotion-focused coping, whereby young people ignore or deny climate change as a means of avoiding feeling anxious about it. In an email, Ojala notes that people who gravitate toward emotional distancing typically come from families that communicate about social problems in “pessimistic doom-and-gloom ways.”
  • Ojala
  • Ojala and other experts favor a third coping strategy that balances negative feelings about climate change with faith in the power of social forces working to overcome it. Called meaning-focused coping, this approach takes strength from individual actions and climate beliefs, while “trusting th
  • her societal actors are also doing their part,”
  • since meaning-focused coping allows negative and positive climate emotions to coexist, young people who adopt it have an easier time maintaining hope for the future.
  • The overall goal, she says, is for young people to achieve more resilience in the face of climate change, so they can function in spite of their environmental concerns
  • When people find meaning in what they do, she says, they have a greater sense of their own agency and self-efficacy. “You’re more empowered to take action, and that can be a powerful way to deal with strong negative emotions,”
  • Duhaime cautions that anyone taking action against climate change should know they shouldn’t expect a quick payback
  • The brain’s reward system, which forms a core of human decision-making, evolved over eons of history to strengthen neural associations between actions and outcomes that promote short-term survival. And that system, she says, responds to the immediate consequences of what we do. One problem with climate change, Duhaime says, is that because it’s so vast and complex, people can’t assume that any single act will lead to a discernible effect on its trajectory
  • young people may benefit from seeking the rewards that come from being part of a group or a movement working to advance an agenda that furthers actions that protect the planet’s climate. “Social rewards are really powerful in the climate change battle, especially for young people,
  • Recognizing the mismatch between how the brain processes reward and the novel challenges of the climate crisis may help people persist when it feels frustrating and ineffective compared to causes with more immediately visible effects. Even if you don’t see climate improvements or policy changes right away, she says, “that won’t diminish the importance of engaging in these efforts.”
  • Malits adds that she wasn’t overly burdened by her emotions. “I’m an optimist by nature and feel that society does have the capacity to make needed changes,” she says. “And what also helps me avoid climate anxiety on a daily basis is the community that I’ve been lucky enough to connect with here at Harvard. It helps to surround yourself with people who are similarly worried about these issues and are also engaging with you on solutions, in whatever capacity is meaningful to you.”
  • “Climate anxiety is an important catalyst for the work I do,” Malits says. “I think you need avenues to channel it and talk about it with loved ones and peers, and have communities through which you can process those feelings and come up with remedies.” Collaborative activism dampens the anxiety, Malits says, and gives young people a sense of renewed hope for the future. “That’s why it’s important to roll up your sleeves and think about how you’d like to tackle the problem,”
  • Malits says she worries most about how climate change is affecting marginalized communities, singling out those who live in urban heat islands, where inadequate green space intensifies extreme heat.
  • nearly 30 percent of Honduras’s population works for the agricultural sector, where rising temperatures and drought are contributing to a mass exodus, as documented that year by PBS NewsHour.
  • Researchers are finding that young people with the most extreme fears over climate change live predominantly in the developing world. The Philippines and India, for instance, are near the top of a list of recently surveyed countries where young people report climate-driven feelings that “humanity is doomed” and “the future is frightening.”
  • Nearly a year after Hurricane Andrew struck South Florida in 1992, 18 percent of children living in the area were still struggling with PTSD-like symptoms, and nearly 30 percent of those who lived through Hurricane Katrina in 2005 wound up with complicated grief, in which strong feelings of loss linger for a long time.
  • Even when people are not uprooted by disaster, a variety of climate-related mechanisms can affect their mental health or the safety of their mental health treatment. High heat and humidity worsen irritability and cognition, he points out, and they can also exacerbate side effects from some common psychiatric medications
  • Levels of lithium — a mood stabilizer used for treating bipolar disorder and major depression — can rise to potentially toxic concentrations in a person who is perspiring heavily; they can become dehydrated and  may develop impaired kidney funtion, potentially causing tremor, slurred speech, confusion and other dangerous effects
  • “I believe the fundamental and best treatment for youth climate distress is a rapid and just transition from fossil fuels,” Pinsky says. “I genuinely consider all that work to be in the area of mitigating climate anxiety.”    
Javier E

Two Wall Street titans on why the world is at its most precarious since 1938 - 0 views

  • Israel’s war with Hamas and Russia’s full-scale invasion of Ukraine have made the world a more “scary and unpredictable” place than at any other time since the Second World War, Dimon contended. “Here in the US, we continue to have a strong economy,” he said. “We still have a lot of fiscal and monetary stimulus in the system. But these geopolitical matters are very serious — arguably the most serious since 1938.
  • What’s happening ... right now is the most important thing for the future of the world — freedom, democracy, food, energy, immigration. We diminish that importance when you say, ‘What’s it going to do to the market?’ Markets will be fine. Markets can deal with stuff. Markets go up and down. Markets fluctuate.”
  • That said, the conflict in the Middle East — in which at least 1,400 Israelis have been murdered and 9,000 Palestinians killed in Israeli attacks on Gaza since October 7 — has rattled a financial system already gulping at the prospect of inflation proving sticky and interest rates staying higher for longer. The region accounts for 48 per cent of global energy reserves and produced 33 per cent of the world’s oil last year. Previous crises, such as Saddam Hussein’s invasion of Kuwait in 1990 and the Arab oil embargo of 1973-74, resulted in big price shocks — although so far, at about $86 a barrel, oil has roughly returned to its pre-October 7 level, while gas prices have risen only slightly.
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  • So fear creates recessions in the long run — and if we continue to have rising fear, the probability of a European recession grows and the probability of a US recession grows. Geopolitics is playing a bigger role in everyone’s equations.”
  • Geopolitical risk is a major component in shaping all our lives. We are having rising fear throughout the world, and less hope. Rising fear creates a withdrawal from consumption or spending more.
  • “When the Russian invasion occurred in Ukraine, we said that the peace dividend is over,” Larry Fink, chief executive of investment giant BlackRock, told The Sunday Times. “Now, with the instability in the Middle East, we’re going to almost a whole new future.
  • Fink pointed out that the transmission of rate rises into the US economy was less direct than in the UK
  • Higher borrowing costs have started to hit debt-fuelled sectors that boomed in the zero-rates era — such as commercial property, where $80 billion (£65 billion) of assets across the US are in some form of financial distress, according to MSCI, and private equity.
  • [the legendary investor] Warren Buffett says you see who’s swimming naked when the tide goes out. Not everyone is really ready for 6 or 7 per cent rates, but I wouldn’t rule them out.”
  • Dimon noted that inflation had “levelled off a little bit” overall, but said: “It’s not clear to me that long-term forces are not inflationary … And that’s why I’m saying rates could possibly go up from here. That’s life in the fast lane.”
  • “I’m a fundamental believer that we’re going to have higher inflation for longer, and it’s going to require the [Fed] to raise rates higher — probably one or two more tightenings — and that will ultimately be the way we get into recession.”
  • Many senior figures on Wall Street worry about the US government’s ability to finance itself in the medium term. As in the UK, the market for government debt was underpinned by huge waves of quantitative easing (QE) after the financial crisis, as the Federal Reserve, in effect, bought assets including Treasuries to boost the economy. Following a revival of the programme during Covid, it came to an end in March last year.
  • The withdrawal of QE, combined with lacklustre appetite for Treasuries among US banks and international investors such as China, could force the government to pay higher prices at a time of near-record borrowing.
  • “It might be a 20km headwind right now, but next year it’s going to be 25km and it’s going to grow,” a top investor said of the decreasing international demand for US government debt.
  • US stock market floats and fundraisings, the heartbeat of capital markets, slumped to their lowest level since 1998 last year as the spike in interest rates punctured valuations of growth stocks in sectors such as tech and healthcare.
  • The cautious mood on Wall Street comes against a backdrop of surprisingly strong US growth. The economy expanded by an astonishing 4.9 per cent in the third quart
  • the Biden administration is shovelling stimulus into the system via big pieces of legislation promising to accelerate America’s adoption of renewables, rebuild its advanced semiconductor industry and increase its spending on roads, bridges and broadband.
  • We have huge stimulus,” said Fink. “People are not factoring in the Inflation Reduction Act, the Chips Act and the Infrastructure Act, which are about $970 billion of stimulus. Those are the largest stimuluses ever when there’s not a pandemic or a financial crisis ... And it’s at a time when you can have unions win a 25 per cent labour increase … These are very inflationary, whether it’s the fiscal stimulus or these wage increases.”
  • It all comes back to that word. Unexpectedly high growth, massive government stimulus and now two wars that threaten to spill out into broader crises — it all spells inflation. The flurry of hope in markets that Fed and the Bank of England have reached the top of their rate-raising cycles may yet prove premature
criscimagnael

Air Force members denied religious exemptions to COVID vaccine file lawsuit to stop pun... - 0 views

  • A federal lawsuit has been filed on behalf of multiple Air Force service members seeking protections against punishment by the military after they were denied religious exemptions to the COVID-19 vaccine. 
  • The filing alleges that the Department of Defense is violating the First Amendment rights of the service members by imposing a vaccine mandate that "substantially burdens" free exercise of religion, despite granting hundreds of administrative and medical exemptions.
  • "At a time of instability and ever-increasing threats around the world, you’d think the Pentagon would want every service member at their post. But instead, military leaders are forcing tens of thousands of our bravest out of the service because they’ve chosen to live according to their faith,"
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  • ‘even in a pandemic, the Constitution cannot be put away and forgotten.’"
  • The original lawsuit was brought by a group of 35 Navy SEALs and other Navy Special Warfare personnel. A lower court had granted a preliminary injunction to block the Pentagon from enforcing its vaccination policy.
Javier E

Opinion | For Ukraine, Europe Thinks Russia's Putin Wants More Than War - The New York ... - 0 views

  • In the final weeks of World War I, a German general sent a telegram to his Austrian allies summarizing the situation. It was, he wrote, “serious, but not catastrophic.” The reply came back: “Here the situation is catastrophic, but not serious.”
  • “The U.S. thinks Putin will do a full-blown war,” he said. “Europeans think he’s bluffing.”
  • full-scale war is generally as unimaginable for a Western European public as an alien invasion. The many decades of peace in Western Europe, combined with the continent’s deep dependence on Russia’s oil and gas, incline officials to assume aggressive Russian moves must be a ruse.
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  • Europeans and Ukrainians are skeptical of a major Russian invasion in Ukraine not because they have a more benign view of Mr. Putin than their American counterparts. On the contrary, it’s because they see him as more malicious. War, they reason, is not the Kremlin’s game. Instead, it’s an extensive suite of tactics designed to destabilize the West. For Europe, the threat of war could turn out to be more destructive than war itself.
  • that much is clear: The Kremlin wants a symbolic break from the 1990s, burying the post-Cold War order. That would take the form of a new European security architecture that recognizes Russia’s sphere of influence in the post-Soviet space and rejects the universality of Western values.
  • the goal is the recovery of what Mr. Putin regards as historic Russia.
  • Europeans and presumably Ukrainians believe that a hybrid strategy — involving military presence on the border, weaponization of energy flows and cyberattacks — will serve him better.
  • To see how that might play out, we need only look to Germany. Before the crisis, Germany was America’s closest ally in Europe, boasted a special relationship with Moscow and was the most important partner for Eastern and Central Europe. Today, some in Washington have questioned the country’s willingness to confront Russia, Berlin’s relationship with Moscow is fast deteriorating, and many Eastern Europeans are agitated by Germany’s apparent reluctance to come to their support.
  • The policy of maximum pressure, short of an invasion, may end up dividing and paralyzing NATO.
  • Germany, crucially, has not changed — but the world in which it acts has. (The country is “like a train that stands still after the railway station has caught fire,”
  • Today, geopolitical strength is determined not by how much economic power you can wield but by how much pain you can endure. Your enemy, unlike during the Cold War, is not somebody behind an iron curtain but somebody with whom you trade, from whom you get gas and to whom you export high-tech goods. Soft power has given way to resilience.
  • That’s a problem for Europe. If Mr. Putin’s success will be determined by the ability of Western societies to steel themselves for the pressure of high energy prices, disinformation and political instability over a prolonged period, then he has good reason to be hopeful
  • Europe is signally unprepared for these challenges. Remedying that, through investment in military capabilities, energy diversification and building social cohesion, should be the continent’s focus.
  • “If you invite a bear to dance, it’s not you who decides when the dance is over,” the Russian proverb goes. “It’s the bear.”
Javier E

Opinion | This Is Why Autocracies Fail - The New York Times - 0 views

  • Joe Biden correctly argues that the struggle between democracy and autocracy is the defining conflict of our time. So which system performs better under stress?
  • when it comes to the most important functions of government, autocracy has severe weaknesses
  • it’s an occasion for a realistic assessment of authoritarian ineptitude and perhaps instability. What are those weaknesses?
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  • The wisdom of many is better than the wisdom of megalomaniacs. In any system, one essential trait is: How does information flow? In democracies, policymaking is usually done more or less in public, and there are thousands of experts offering facts and opinions
  • People want their biggest life. Human beings these days want to have full, rich lives and make the most of their potential. The liberal ideal is that people should be left as free as possible to construct their own ideal. Autocracies restrict freedom for the sake of order.
  • Organization man turns into gangster man. People rise through autocracies by ruthlessly serving the organization, the bureaucracy. That ruthlessness makes them aware others may be more ruthless and manipulative, so they become paranoid and despotic
  • They don’t hire the smartest and best people. Such people might be threatening. They hire the dimmest and the most mediocre. You get a government of third-raters.
  • Ethnonationalism self-inebriates. Everybody worships something. In a liberal democracy, worship of the nation (which is particular) is balanced by the love of liberal ideals (which are universal). With the demise of communism, authoritarianism lost a major source of universal values. National glory is pursued with intoxicating fundamentalism.
  • Government against the people is a recipe for decline. Democratic leaders, at least in theory, serve their constituents. Autocratic leaders, in practice, serve their own regime and longevity, even if it means neglecting their people.
  • To me, the lesson is that even when we’re confronting so-far successful autocracies like China, we should learn to be patient and trust our liberal democratic system.
  • When we are confronting imperial aggressors like Putin, we should trust the ways we are responding now. If we steadily, patiently and remorselessly ramp up the economic, technological and political pressure, the weaknesses inherent in the regime will grow and grow.
Javier E

Opinion | Inflation Isn't Going to Bring Back the 1970s - The New York Times - 0 views

  • In both cases, heavy federal spending (on the war in Vietnam and Great Society programs in the 1960s, on the response to Covid in 2020 and 2021) added to demand. And shocks to global energy and food prices in the 1970s made the inflation problem significantly worse, just as they are doing now.
  • In contrast, efforts by the current Fed chairman, Jerome Powell, and his colleagues to bring down inflation enjoy considerable support from both the White House and Congress, at least so far. As a result, the Fed today has the independence it needs to make policy decisions based solely on the economic data and in the longer-run interests of the economy, not on short-term political considerations.
  • a key difference from the ’60s and ’70s is that the Fed’s views on both the sources of inflation and its own responsibility to control the pace of price increases have changed markedly. Burns, who presided over most of the 1970s inflation, had a cost-push theory of inflation. He believed that inflation was caused primarily by large companies and trade unions, which used their market power to push up prices and wages even in a slow economy. He thought the Fed had little ability to counteract these forces, and as an alternative to raising interest rates, he helped persuade Nixon to set wage and price controls in 1971, which proved a spectacular failure.
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  • today’s monetary policymakers understand that as we wait for supply constraints to ease, which they will eventually, the Fed can help reduce inflation by slowing growth in demand. Drawing on the lessons of the past, they also understand that by doing what is needed to get inflation under control, they can help the economy and the job market avoid much more serious instability in the future.
  • Markets and the public appear to understand how the Fed’s approach has changed from the earlier era I described
  • they suggest continued confidence that, over the longer term, the Fed will be able to bring inflation down close to its 2 percent target.
  • This confidence in turn makes the Fed’s job easier, by limiting the risk of an “inflationary psychology,” as Burns once put it, on the part of the public.
  • The degree to which the central bank will have to tighten monetary policy to control our currently high inflation, and the associated risk of an economic slowdown or recession, depends on several factors: how quickly the supply-side problems (high oil prices, supply-chain snarls) subside, how aggregate spending reacts to the tighter financial conditions engineered by the Fed and whether the Fed retains its credibility as an inflation fighter even if inflation takes a while to subside.
Javier E

Ukraine Crisis Kicks Off New Superpower Struggle Among U.S., Russia and China - WSJ - 0 views

  • Russia’s audacious military mobilization in and around Ukraine is the first major skirmish of a new order in international politics, with three major powers jostling for position in ways that threaten America’s primacy.
  • Russia and China have built a thriving partnership based in part on a shared interest in diminishing U.S. power. Unlike the Sino-Soviet bloc of the 1950s, Russia is a critical gas supplier to Europe, while China isn’t an impoverished, war-ravaged partner but the world’s manufacturing powerhouse with an expanding military.
  • To do this, Mr. Putin shifted military units from Russia’s border with China, showing confidence in his relations with Beijing. The two powers, in effect, are coordinating to reshape the global order to their advantage, though their ties stop short of a formal alliance.
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  • Russian President Vladimir Putin is demanding that the West rewrite the post-Cold War security arrangements for Europe and demonstrated that Russia has the military capability to impose its will despite Western objections and economic sanctions.
  • Even with annual defense budgets that soared over $700 billion, coping with an urgent Russian-generated crisis while preparing for a Chinese threat whose peak is still years away presents an enormous challenge for the Pentagon.
  • “And we’re seeing that while Beijing doesn’t really like Putin’s tactics, they’re willing to band together as authoritarian states against the Western democracies,” Ms. Flournoy added. “We are going to see more and more of that in the future.”
  • China’s Communist Party leadership also saw pro-democracy protest movements in former Soviet republics as U.S.-engineered plots that could ultimately be used against Beijing.
  • For much of the past decade, the U.S. security establishment began taking note of what the Pentagon in 2015 called the “re-emergence of great power competition” and shifted from its emphasis of counterterrorism operations in the Middle East and Southwest Asia.
  • Defense Secretary Lloyd Austin has repeatedly cast China as the “pacing challenge” while Russia was seen as the lesser longer-term danger.
  • “We all thought we were looking at a Europe whole, free and at peace indefinitely,” said Michele Flournoy, who served as the Pentagon’s top policy official during the Obama administration. “We knew that Russia would conduct gray zone operations and that Putin would use his KGB playbook to create instability on his periphery. But a wholesale invasion of a sovereign country to reorient its government is a different moment.”
  • A recent poll by the European Council on Foreign Relations noted most Europeans see the Ukraine crisis as a broader threat to Europe. Some current and former officials, however, worry that the alliance’s solidarity could fray in the years ahead as it debates the need for greater military spending and wrestles whether its military ties with Georgia might stir new confrontations with Moscow.
  • The era of nuclear reductions may come to an end as the U.S. military establishment argues for a large enough nuclear arsenal to deter both Russia’s formidable nuclear weaponry and China’s rapidly growing nuclear forces, which aren’t limited by any arms-control agreement.
  • “The United States is going to have to get used again to operating in multiple theaters simultaneously—not just militarily, but in terms of psychology and foreign-policy making,”
  • Already, debates are emerging among U.S. defense experts on whether the Pentagon should give equal weight to the twin challenges from Beijing and Moscow or focus more on the Pacific.
  • Should the West impose crippling sanctions on Russian banks and major companies, Moscow is likely to become more reliant on Beijing, which has issued a digital currency and is building a payments system separate from the West’s.
  • “It is already ending the amnesia about the importance of energy security,” said Daniel Yergin, vice chairman of research firm IHS Markit. “It means a new emphasis on diversification of energy sources for Europe and a new look at U.S. domestic and international energy policies.”
  • Advocates of using energy as a geopolitical tool say Washington should promote investment in U.S. oil and natural gas and approve new LNG export terminals and pipelines in the United States.
  • The 1997 NATO-Russia Founding Act precludes the alliance from permanently stationing additional substantial combat forces on the territory of its new Eastern and Central European members, but could now be repealed.
  • ”The United States is particularly at risk of being overwhelmed should its military be forced to fight on two or more fronts simultaneously,” said a Congressionally mandated study of the Pentagon’s strategy that was issued in 2018
  • the Alphen Group by former officials and other experts urges that European members of the alliance and Canada provide for 50% of NATO’s minimum military requirements by 2030 so the U.S. can focus more on deterring China.
  • “Everybody’s unified right now and outraged about what the Russians are doing,” said Alexander Vershbow, a former U.S. ambassador to NATO who also served as the alliance’s deputy secretary-general from 2012 to 2016. “But when we get down to making longer-term commitments to strengthen NATO’s defense posture and potentially revisit nuclear issues, it could become very divisive.”
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