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But it starts an ocean away, during the Crimean War, 169 years ago.

Almost as soon as the phrase was coined, its definition was broadened to become shorthand for the British military more generally, particularly its courage in the face of long odds or superior numbers.

“Between the law-abiding elements of society and the criminals that prey upon them,” Mr. Parker said, “stands a thin blue line of defense — your police officer.” The police, in his vision, weren’t just protecting public safety; they were combating the decline of Western civilization, the rise of Communism, the moral laxity of postwar America, the decay of the nuclear family, and so on.

Like other mash-ups of identity flags with the American flag, the thin blue line flag is a rallying point for a marginalized identity, a way to lay claim to the American birthright, a demand for long-denied respect

Mr. Parker’s vision went beyond policing as a profession. In 1965, he told a civil rights commission investigating the Watts riots that “the police of this country, in my opinion, are the most downtrodden, oppressed, dislocated minority in America.” This belief, a half-century later, would animate an identity politics that blurred the blue line.

Blue Lives Matter is not just an expression of support and solidarity for the police, but a response to and rejection of Black Lives Matter. It suggests that it is not Black people whose lives are undervalued by society, but police officers.

The thin blue line would become the dominant metaphor for the police. In 1981, President Ronald Reagan said the thin blue line held back “a jungle which threatens to reclaim this clearing we call civilization”; in 1993, President Bill Clinton called it “nothing less than our buffer against chaos, against the worst impulses of this society.”

As the L.G.B.T. American flag does, it exploits a visual pun, but much less playfully: The blue line divides America against itself.

Blue Lives Matter is a movement that belies the simplicity of its name: It can certainly mean that the police deserve respect for doing a critical and dangerous job. But it can also mean that overzealous racial politics have inverted the criminal justice system, punishing the peacekeepers, coddling the criminals and turning those who carry a badge into the most embattled and victimized group in the nation. Blue Lives Matter transformed policing into a tribal affiliation.

This blossoming identity was an opportunity for any politician bold enough to take it. While trust in the police was dropping among Black and Hispanic Americans, it actually was rising for white Americans

Donald Trump was particularly well suited to take advantage of the rise of policing as identity politics. His entrance onto the political scene in the 1980s was his call for the reinstatement of the death penalty and less oversight of police.

The Trump campaign cast the Democrats as enemies of law and order who sought to incubate riots in American cities and chaos at the border.

Mr. Trump claimed that while the Democratic ticket stood with “rioters and vandals,” he stood with “the heroes of law enforcement.”

After Mr. Trump’s prophecy came true and the soft coup of representative democracy denied him a second term, when his supporters rallied for one last stand on the grassy field in front of the Capitol, it was inevitable that they would see themselves as bearing the mantle of law and order, a thin blue line smashing through a thin blue line.

In the aftermath of Jan. 6, when the nation saw that flag held aloft by the rioters who attacked the Metropolitan Police officer Michael Fanone (he says they literally beat him with it), the thin blue line flag has become increasingly controversial among police officers. In 2023, the Los Angeles Police Department banned its public display on the job. In an email explaining his decision to his officers, Chief Michel Moore lamented that “extremist groups” had “hijacked” the flag.

Biden’s Department of Education has interpreted Title VI to apply when students “experience discrimination, including harassment,” on the basis of their “shared ancestry or ethnic characteristics.”

these statements — even if fairly rooted in the text of Title VI — are not a solution

Executive orders and administrative regulations are more ephemeral than federal statutes. The next president (or one elected in 2036 or 2052) may choose to interpret Title VI differently. Biden’s interpretation is broader than Trump’s, for example. Courts will also have their own say, and they are now less deferential to presidential interpretations of the law than they’ve been in decades.

The definitions don’t just implicate the First Amendment, they also breed confusion around the very concept of harassment itself. Hearing unpleasant or even hateful thoughts or ideas isn’t “harassment.”

The best parts of the Antisemitism Awareness Act explicitly incorporate discrimination based on “actual or perceived shared ancestry or ethnic characteristics” into federal statutory law, elevating the legal protections well beyond the executive orders and guidance letters of previous administrations.

If the law had stopped there — or even if it had gone further and explicitly stated that discrimination on the basis of actual or perceived Jewish identity is by definition discrimination on the basis of shared ancestry, then it would be a vital addition to federal law.

But the law did not stop there. It goes on to require schools to consider the International Holocaust Remembrance Alliance’s working definition of antisemitism when determining whether there has been a violation of Title VI

This is a serious mistake. The alliance’s definition includes examples of antisemitism that encompass a broad range of statements that are protected by the First Amendment.

Both the Trump and the Biden administrations attempted to solve the problem by interpreting Title VI to apply to antisemitism, at least in some circumstances. The Trump administration issued an executive order stating that “discrimination against Jews may give rise to a Title VI violation when the discrimination is based on an individual’s race, color or national origin.”

That’s an inescapable part of life in a free, pluralistic nation

Harassment is something else entirely.

In a 1999 case, Davis v. Monroe County Board of Education, the Supreme Court defined student-on-student harassment under Title IX (the federal statute prohibiting sex discrimination in federally funded education) as conduct “so severe, pervasive and objectively offensive, and that so undermines and detracts from the victims’ educational experience, that the victims are effectively denied equal access to an institution’s resources and opportunities.”

Harassment doesn’t depend so much on the content or viewpoint of the objectionable speech as where, when and how it happens.

If students chant, “Globalize the intifada,” at a lawful public protest, then that’s protected

If they shout down Jewish students in class using the same phrase, or chant it outside the dorm rooms of Jewish students at 3 a.m., then they’re engaging in harassment. Jewish students can’t study or sleep on an equal basis with other students.

In both of those circumstances, the actual content of the words is less important than the timing and the targets. A person can commit an act of antisemitic harassment if he targets Jewish students with words that have nothing to do with ancestry or ethnicity

For example, if someone stands outside a Jewish student’s room night after night yelling, “Michael Jordan is the GOAT” relentlessly so that the student can’t sleep or targets her Jewish roommate with constant interruption and distraction then she’s engaging in antisemitic harassment not because of the content or viewpoint of the words, but rather because of the identity of the target and the time and manner of the speech.

I’d like to humbly offer a better way. Strip the problematic incorporation of the alliance’s antisemitism definition and examples from the bill entirely. Instead, simply amend Title VI itself to make it explicit that discrimination based on “actual or perceived shared ancestry or ethnic characteristics” is prohibited by the statute and that antisemitic discrimination meets that definition.

by revising Title VI to clearly prohibit discrimination against Jews without any further amplification or definition, antisemitic harassment will fit neatly into existing case law that has longed harmonized free speech principles and nondiscrimination law

But the legal wrangling to just get the courts to treat crypto as a set of speculative instruments regulated under securities law made the law moot

In May of 2022, a year after Gensler began trying to do something about Terra/Luna, Kwon’s scheme blew up. In a comically-too-late-to-matter gesture, an appeals court then said that the SEC had the right to compel information from Kwon’s now-bankrupt scheme. It is absolute lunacy that well-settled law, like the ability for the SEC to investigate those in the securities business, is now being re-litigated.

many crypto ‘enthusiasts’ watching Gensler discuss regulation with his predecessor “called for their incarceration or worse.”

it wasn’t just the courts who were an impediment. Gensler wasn’t the only cop on the beat. Other regulators, like those at the Commodities Futures Trading Commission, the Federal Reserve, or the Office of Comptroller of the Currency, not only refused to take action, but actively defended their regulatory turf against an attempt from the SEC to stop the scams.

Behind this was the fist of political power. Everyone saw the incentives the Senate laid down when every single Republican, plus a smattering of Democrats, defeated the nomination of crypto-skeptic Saule Omarova in becoming the powerful bank regulator at the Comptroller of the Currency

Instead of strong figures like Omarova, we had a weakling acting Comptroller Michael Hsu at the OCC, put there by the excessively cautious Treasury Secretary Janet Yellen. Hsu refused to stop bank interactions with crypto or fintech because, as he told Congress in 2021, “These trends cannot be stopped.”

It’s not just these regulators; everyone wanted a piece of the bureaucratic pie. In March of 2022, before it all unraveled, the Biden administration issued an executive order on crypto. In it, Biden said that virtually every single government agency would have a hand in the space.

That’s… insane. If everyone’s in charge, no one is.

And behind all of these fights was the money and political prestige of some most powerful people in Silicon Valley, who were funding a large political fight to write the rules for crypto, with everyone from former Treasury Secretary Larry Summers to former SEC Chair Mary Jo White on the payroll.

(Even now, even after it was all revealed as a Ponzi scheme, Congress is still trying to write rules favorable to the industry. It’s like, guys, stop it. There’s no more bribe money!)

Moreover, the institution Gensler took over was deeply weakened. Since the Reagan administration, wave after wave of political leader at the SEC has gutted the place and dumbed down the enforcers. Courts have tied up the commission in knots, and Congress has defanged it

Under Trump crypto exploded, because his SEC chair Jay Clayton had no real policy on crypto (and then immediately went into the industry after leaving.) The SEC was so dormant that when Gensler came into office, some senior lawyers actually revolted over his attempt to make them do work.

In other words, the regulators were tied up in the courts, they were against an immensely powerful set of venture capitalists who have poured money into Congress and D.C., they had feeble legal levers, and they had to deal with ‘crypto enthusiasts' who thought they should be jailed or harmed for trying to impose basic rules around market manipulation.

The bottom line is, Gensler is just one regulator, up against a lot of massed power, money, and bad institutional habits. And we as a society simply made the choice through our elected leaders to have little meaningful law enforcement in financial markets, which first became blindingly obvious in 2008 during the financial crisis, and then became comical ten years later when a sector whose only real use cases were money laundering

, Ponzi scheming or buying drugs on the internet, managed to rack up enough political power to bring Tony Blair and Bill Clinton to a conference held in a tax haven billed as ‘the future.’

It took a few years, but New Dealers finally implemented a workable set of securities rules, with the courts agreeing on basic definitions of what was a security. By the 1950s, SEC investigators could raise an eyebrow and change market behavior, and the amount of cheating in finance had dropped dramatically.

By 1935, the New Dealers had set up a new agency, the Securities and Exchange Commission, and cleaned out the FTC. Yet there was still immense concern that Roosevelt had not been able to tame Wall Street. The Supreme Court didn’t really ratify the SEC as a constitutional body until 1938, and nearly struck it down in 1935 when a conservative Supreme Court made it harder for the SEC to investigate cases.

Institutional change, in other words, takes time.

It’s a lesson to remember as we watch the crypto space melt down, with ex-billionaire Sam Bankman-Fried

It’s not like perfidy in crypto was some hidden secret. At the top of the market, back in December 2021, I wrote a piece very explicitly saying that crypto was a set of Ponzi schemes. It went viral, and I got a huge amount of hate mail from crypto types

one of the more bizarre aspects of the crypto meltdown is the deep anger not just at those who perpetrated it, but at those who were trying to stop the scam from going on. For instance, here’s crypto exchange Coinbase CEO Brian Armstrong, who just a year ago was fighting regulators vehemently, blaming the cops for allowing gambling in the casino he helps run.

FTX.com was an offshore exchange not regulated by the SEC. The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore. Punishing US companies for this makes no sense.

Some of Trump’s Christian followers do appear to have grown to see him as a kind of religious figure. He is a savior. I think it began with the sense that he was uniquely committed to saving them from their foes (liberals, Democrats, elites, seculars, illegal immigrants, etc.) and saving America from all that threatens it.

In this sense, Gushee continued, “a savior does not have to be a good person but just needs to fulfill his divinely appointed role. Trump is seen by many as actually having done so while president.”

This view of Trump is especially strong “in the Pentecostal wing of the conservative Christian world,” Gushee wrote, wherehe is sometimes also viewed as an anointed leader sent by God. “Anointed” here means set apart and especially equipped by God for a holy task. Sometimes the most unlikely people got anointed by God in the Bible. So Trump’s unlikeliness for this role is actually evidence in favor.

The prosecutions underway against Trump have been easily interpretable as signs of persecution, which can then connect to the suffering Jesus theme in Christianity. Trump has been able to leverage that with lines like, “They’re not persecuting me. They’re persecuting you.” The idea that he is unjustly suffering and, in so doing, vicariously absorbing the suffering that his followers would be enduring is a powerful way for Trump to be identified with Jesus.

Robert P. Jones, the founder and chief executive of P.R.R.I. (formerly the Public Religion Research Institute), contends that Trump’s religious claims are an outright fraud:Trump has given us adequate evidence that he has little religious sensibility or theological acuity. He has scant knowledge of the Bible, he has said that he has never sought forgiveness for his sins, and he has no substantive connection to a church or denomination. He’s not only one of the least religious but also likely one of the most theologically ignorant presidents the country has ever had.

If people wanted to make him out to be savior, anointed one and agent of God, he would not object

Lacking any inner spiritual or moral compass that would seek to deflect overinflated or even idolatrous claims about himself, he instead reposted their artwork and videos and so on. Anyone truly serious about the Christian faith would deflect claims to being a savior or anointed one, but he did not have such brakes operating.

there are evangelicals of the charismatic and Pentecostal variety — the so-called New Apostolic Reformation or Independent Network Charismatics — who believe that Donald Trump is an agent of God to rescue the United States from the atheistic, even demonic, secularists and progressives who want to destroy the country by advancing abortion, gay marriage, wokeness, transgenderism, etc.

“This whole movement,” Fea wrote,is rooted in prophecy. The prophets speak directly to God and receive direct messages from him about politics. They think that politics is a form of spiritual warfare and believe that God is using Donald Trump to help wage this war. (God can even use sinners to accomplish his will — there are a lot of biblical examples of this, they say.)

As far as Trump goes, Fea continued, “he probably thinks these charismatics and Pentecostals are crazy. But if they are going to tell him he is God’s anointed one, he will gladly accept the title and use it if it wins him votes. He will happily accept their prayers because it is politically expedient.”

The more interesting case, Gushee wrote,is Trump himself. I accept as given that he entered politics as the amoral, worldly, narcissistic New York businessman that he appeared to be. Like all G.O.P. politicians, he knew he would have to win over the conservative Christian voting bloc so central to the party.

Trump, Jones added in an email, “almost certainly lacks the kind of religious sensibility or theological framework necessary to personally grasp what it would even mean to be a Jesus-like, messianic figure.”

According to Jones, in order to rationalize this quasi-deification of Trump — despite “his crassness and vulgarity, divorces, mocking of disabled people, his overt racism and a determination by a court that he sexually abused advice columnist E. Jean Carroll” — white evangelicals refer not to Jesus but the Persian King Cyrus from the book of Isaiah in the Hebrew Bible.”

Cyrus is the model of an ungodly king who nonetheless frees a group of Jews who are held captive in Babylon. It took white evangelicals themselves a while to settle on an explanation for their support, but this characterization of Trump was solidified in a 2018 film that came out just before the 2018 midterms entitled “The Trump Prophecy,” which portrayed Trump as the only leader who could save America from certain cultural collapse.

According to Jones, “White evangelicals’ stalwart, enduring support for Trump tells us much more about who they see themselves to be than who they think Trump is. As I argued in my most recent book, ‘The Hidden Roots of White Supremacy,’” Jones continued in his email, “the primary force animating white evangelical Protestant politics — one that has been with us since before the founding of the Republic — is the vision of America as a nation primarily of, by and for white Christians.”

“a majority (56 percent) of white evangelical Protestants, compared to only one-third of all Americans, believed that ‘God intended America to be a new promised land where European Christians could create a society that could be an example to the rest of the world.’”

Jones argued that Trump’s declaration on the Ellipse on Jan. 6, 2021 — “We fight like hell. And if you don’t fight like hell, you’re not going to have a country anymore” — was a direct appeal “to this sense of divine entitlement of those who believed this mythology strongly enough to engage in a violent insurrection.”

“White evangelicals,” Guth found, “are invariably the most populist: more likely to favor strong leadership (even when that means breaking the rules), to distrust government, to see the country on the wrong track and to think that the majority should always rule (and minorities adapt).”

Guth also found thatanother salient trait of populist politics is the willingness to ignore democratic civility. We constructed a “rough politics” score from three A.N.E.S. items: whether protesters deserve what they get if they are hurt in demonstrating, whether the country would be better off if it got rid of rotten apples and whether people are “too sensitive” about political discourse. Here the usual pattern recurs: Evangelical affiliation, evangelical identity and biblical literalism predicts agreement with those assertions, while religious minorities, secular folks and progressives tend to demur.

Guth wrote that his “findings help us understand what many have struggled to comprehend: How can white evangelical Protestants continue to provide strong support for President Donald Trump, whose personal values and behavior trample on the biblical and ethical standards professed by that community?”

The most common explanation, according to Guth,is that white evangelicals have a transactional relationship with the president: As long as he nominates conservative jurists and makes appropriate gestures on abortion and sexual politics, they will support him.

“The evidence here,” he wrote, “suggests a more problematic answer”:White evangelicals share with Trump a multitude of attitudes, including his hostility toward immigrants, his Islamophobia, his racism and nativism, as well as his political style, with its nasty politics and assertion of strong, solitary leadership. Indeed, Trump’s candidacy may have “authorized” for the first time the widespread expression of such attitudes.

The pervasive populism of white evangelical laity not only helps explain their support for President Trump but suggests powerful barriers to influence by cosmopolitan internationalist evangelical elites, who want to turn the community in a different direction. As hostile responses to efforts of antipopulist evangelicals like Michael Gerson, Russell Moore, David Platt and many others indicate, there is currently a very limited market for such alternative perspectives among the rank and file.

Nor does cosmopolitan or cooperative internationalism find much purchase among local evangelical clergy. Analysis of the 2017 Cooperative Clergy Survey shows that ministers from several evangelical denominations, especially the large Southern Baptist Convention and Assemblies of God, exhibit exactly the same populist traits seen here in white evangelical laity, but in more pronounced form: strong Islamophobia, Christian nationalism, extreme moral traditionalism, opposition to trade pacts, militaristic attitudes, resistance to political compromise and climate change denial, among others.

In other words, conservative populism, with all its antidemocratic implications, has taken root in America. What we don’t know is for how long — or how much damage it will do.

With consumers buying so little, at least relative to the Chinese economy’s productive capacity, how can the nation generate enough demand to keep that capacity in use? The main answer, as Michael Pettis points out, has been to promote extremely high rates of investment, more than 40 percent of G.D.P. The trouble is that it’s hard to invest that much money without running into severely diminishing returns.

financial repression — paying low interest on savings and making cheap loans to favored borrowers — that holds down household income and diverts it to government-controlled investment, a weak social safety net that causes families to accumulate savings to deal with possible emergencies, and more.

Part of the answer is bad leadership. President Xi Jinping is starting to look like a poor economic manager, whose propensity for arbitrary interventions — which is something autocrats tend to do — has stifled private initiative.

But China’s working-age population peaked around 2010 and has been declining ever since. While China has shown impressive technological capacity in some areas, its overall productivity also appears to be stagnating.

very high rates of investment may be sustainable if, like China in the early 2000s, you have a rapidly growing work force and high productivity growth as you catch up with Western economies

This, in short, isn’t a nation that can productively invest 40 percent of G.D.P. Something has to give.

the government was able to mask the problem of inadequate consumer spending for a number of years by promoting a gigantic real estate bubble. In fact, China’s real estate sector became insanely large by international standards.

what China must do seems straightforward: end financial repression and allow more of the economy’s income to flow through to households, and strengthen the social safety net so that consumers don’t feel the need to hoard cash. And as it does this it can ramp down its unsustainable investment spending.

But there are powerful players, especially state-owned enterprises, that benefit from financial repression

And when it comes to strengthening the safety net, the leader of this supposedly communist regime sounds a bit like the governor of Mississippi, denouncing “welfarism” that creates “lazy people.”

Japan ended up managing its downshifting well. It avoided mass unemployment, it never lost social and political cohesion, and real G.D.P. per working-age adult actually rose 50 percent over the next three decades, not far short of growth in the United States.

My great concern is that China may not respond nearly as well. How cohesive will China be in the face of economic trouble? Will it try to prop up its economy with an export surge that will run headlong into Western efforts to promote green technologies? Scariest of all, will it try to distract from domestic difficulties by engaging in military adventurism?