Martha Nussbaum discusses her book, “The Monarchy of Fear” at Politics and Prose on 7/9/18.
One of the country’s leading moral philosophers, Nussbaum cuts through the acrimony of today’s political landscape to analyze the Trump era through one simple truth: that the political is always emotional. Starting there, she shows how globalization has produced feelings of powerlessness that have in turn fed resentment and blame. These have erupted into hostility against immigrants, women, Muslims, people of color, and cultural elites. Drawing on examples from ancient Greece to Hamilton, Nussbaum shows how anger and fear inflame people on both the left and right; by illuminating the powerful role these passions play in public life, she points to ways we can avoid getting caught up in the vitriol that sustains and perpetuates divisive politics.
John Mauldin has the big picture perspective of global economic trends to ask the difficult questions about societal change, inequality and automation of jobs. With the pervading need to monetize rising global debt, the Chairman of Mauldin Economics can only see a Bretton Woods type solution as the developed world starts to run out of difficult choices, while John also looks to the future of healthcare technology and the incredible breakthroughs in the pipeline. Filmed on May 22, 2017, in Orlando.
Dr. Doom lives up to his moniker
.. Roubini pointed to the ongoing U.S.-China trade conflict as the likeliest trigger of the next crisis. “There is a cold war between the U.S. and China,” he said. “We have a global rivalry . . . about who is going to be controlling the industries of the future: artificial intelligence, automation, and 5G.”
Because the standoff has evolved into a one about national security and geopolitics, Roubini predicted that “there will be a trade and tech war between the U.S. and China that’s going to get worse.”
Roubini dismissed the trade truce declared by U.S. President Trump and Chinese President Xi Jinpeng over the weekend as mere talk, though stock market investors appeared to think otherwise this week. The S&P 500 index SPX, -0.05% closed at a record high Monday, while the Dow Jones Industrial AverageDJIA, -0.09% and Nasdaq Composite index COMP, -0.11% also gained to be within 1% of their record closes.
The uncertainty that the standoff has created is forcing businesses to delay or cancel plans to make additional investments, Roubini added. “There’s already been, in the data, a collapse in [capital expenditures] and once capex is down, industrial production is down, and then you have the beginning of a global recession that starts in
- tech, then spreads to
- manufacturing, then to
- industry and then it goes to
- services,” he said.
The Sino-American trade dispute will have even further consequences than just triggering the next recession, as it will cause “a complete decoupling of the global economy” as private entities and countries will have to choose whether to do business with China or the U.S., and it will lead to a reconstruction of “the entire global tech supply chain,” which will be a drag on economic growth going forward.
He compared the predicted U.S.-China “cold war” with that between the Soviet Union and the U.S. during the last century, arguing that the coming war will be more disruptive. “This divorce is going to get ugly compared to the divorce with the U.S. and the Soviet Union,” because there was little economic integration between America and Russia prior to the conflict.
“I’m going to stand out by being focused on the themes of my campaign, which are solving the problems that got Donald Trump elected in the first place — primarily that we automated away 4 million manufacturing jobs in Michigan, Ohio, Pennsylvania, Wisconsin, Missouri and Ohio, and we’re about to do the same thing to millions of retail jobs, call-center jobs, fast-food jobs, truck-driving jobs, and on and on through the economy,” he also said.
“I’m talking about those problems and advancing real solutions, like a dividend of a thousand dollars a month for every American adult,” Yang added.
The presidential hopeful said his campaign is not in desperation mode, as he’s on track to qualify for the second round of debates by attracting at least 130,000 donors and showing at least 2% support in four national or early primary-state polls. Yang has been showing support of 2% in several national polls, though he’s at 1.3% in the latest RealClearPolitics average of all polls.
“There are some campaigns that are in something of a ‘Hail Mary’ mode, where they’re going to have to throw a touchdown into the end zone to try to make the September debates. We’re not one of those campaigns. We’re going to make the 130,000 threshold probably before tomorrow night,” Yang said.
In addition, Yang addressed how Democrats can frame the growing economy in a way that wins them the White House.
“Financial insecurity is pervasive in the U.S.,” he said.
“Stock-market price growth DJIA, +0.15% SPX, +0.45% COMP, +0.68% hasn’t really changed those dynamics for many, many American families. I know this because I’ve been around the country traveling. And if you go to most of the country and say, ‘Hey, GDP’s up,’ they look at you like you have a second head. GDP has a very low relationship with the lived experience of most Americans.”