Bonfire of the Assets, With Trump Lighting Matches - The New York Times - 0 views
www.nytimes.com/...th-trump-lighting-matches.html
pluralism immigration mccarthyism intolerance pollitics
shared by Javier E on 27 Aug 15
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The Wall Street Journal reported on July 30 that the “state-owned China Securities Finance Corporation has been spending up to 180 billion yuan a day ($29 billion) to try to stabilize stocks.” Since the Shanghai exchange has fallen sharply since then, the amount of money China burned trying to prop up already unrealistic valuations must be staggering.
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eaders do funky things when the ruling party’s bargain with its people is “we get to rule and you get to get rich.” Collapsing markets can quickly lead to collapsing legitimacy.
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Ask the Russian president, Vladimir Putin. He burned the eastern quarter of Ukraine to distract the Russian middle class from his economic mismanagement and illegitimacy.
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America’s greatest advantage is its pluralism: It can govern itself horizontally by its people of all colors and creeds forging social contracts to live together as equal citizens.
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But right now we’re messing around with that incredible asset. Yes, we must control our borders; it is the essence of sovereignty. It has been a failure of both our political parties that the Mexican-American border has been so porous. So I am for a high wall, but with a very big gate — one that legally lets in energetic low-skilled workers and the high-I.Q. risk-takers who have made our economy the envy of the world — and for legislation that provides a pathway for the millions of illegal immigrants already here to gain legal status and eventually citizenship.
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Every era spews up a Joe McCarthy type who tries to thrive by dividing and frightening us, and today his name is Donald Trump.