They 100% lied about the inflation numbers in May. This is insane.
SoFi is the exclusive partner app of The Best Business Show. Visit https://sofi.com/pomp for more info and start investing today
The Best Business Show Is LIVE 11AM-1PM EST Monday – Friday discussing Bitcoin, Finance, Crypto & everything in between.
the 20 most prosperous districts are now held by Democrats, while Republicans represent 16 of the 20 least prosperous, measured by share of G.D.P. The accompanying chart illustrates their analysis.
.. The authors’ calculation of the contribution to the G.D.P. of every congressional district showed that Democratic districts produce $10.2 trillion of the nation’s goods and services and Republican districts $6.2 trillion.
This trend creates a significant dilemma for Trump and the Republican Party. Candidates on the right do best during hard times and in recent elections, they have gained the most politically in regions experiencing the sharpest downturn. Electorally speaking, in other words, Republicans profit from economic stagnation and decline.
Let’s return to John Austin of the Michigan Economic Center. In an email he describes this unusual situation succinctly: “A rising economic tide tends to sink the Trump tugboat,” adding
“Certainly more people and communities that are feeling abandoned, not part of a vibrant economy means more fertile ground for the resentment politics and ‘blaming others’ for people’s woes (like immigrants and people of color) that fuel Trump’s supporters.”
The small- and medium-sized factory towns that dot the highways and byways of Michigan, Indiana, Ohio and Wisconsin have lost their anchor employers and are struggling to fill the void. Many of these communities, including once solidly Democratic-voting, union-heavy, blue collar strongholds, flipped to Trump in 2016.
This pattern is not limited to the United States. There are numerous studies demonstrating that European and British voters who are falling behind in the global economy, and who were hurt by the 2008 recession and the subsequent cuts to the welfare state, drove Brexit as well as the rise of right-wing populist parties.
..In a July 2018 paper, “Did Austerity Cause Brexit?” Thiemo Fetzer, an economist at the University of Warwick in Coventry, England, argues that austerity policies adopted in the wake of the 2008 financial collapse were crucial both to voter support for the right-wing populist party UKIP in Britain and to voter approval of Brexit.
the EU referendum (Brexit) could have resulted in a Remain victory had it not been for a range of austerity-induced welfare reforms. These reforms activated existing economic grievances. Further, auxiliary results suggest that the underlying economic grievances have broader origins than what the current literature on Brexit suggests. Up until 2010, the UK’s welfare state evened out growing income differences across the skill divide through transfer payments. This pattern markedly stops from 2010 onward as austerity started to bite
.. The results here and in England reinforce the conclusion that the worse things get, the better the right does.
As a rule, as economic conditions improve and voters begin to feel more secure, they become more generous and more liberal. In the United States, this means that voters move to the left; in Britain, it means voters are stronger in their support for staying in the European Union.
Choosing between a focus on race or class is the wrong choice to begin with... There’s a lot of discussion about how far left the Democratic Party should go these days. Is it destroying its electoral chances when its members call for a single-payer health plan or abolishing ICE?
That’s an important question, but the most important question is what story is the Democratic Party telling?
.. As Alasdair MacIntyre argued many years ago, you can’t know what to do unless you know what story you are a part of. Story is more important than policies.
.. The story Donald Trump tells is that we good-hearted, decent people of Middle America have been betrayed by stupid elites who screw us and been threatened by foreigners who are out to get us.
.. Back in the 1980s, the Democrats told two different stories. One was the compassion story associated with Mario Cuomo and Ted Kennedy: Too many Americans are poor, marginalized and left behind. We must care for our brothers and sisters because we are all one family.
.. The other was the brainpower/meritocracy story associated with Gary Hart and later the New Democrats: Americans are masters at innovation. We must use our best minds to come up with innovative plans to solve our problems and head into a new technological century.
I don’t hear those two stories much anymore. The Democrats are emphasizing fighting grit these days, not compassion or technocratic expertise.
Today’s Democrats tell two other stories.
- The first is the traditional socialist story associated with Bernie Sanders: America is rived by the class conflict. The bankers and the oligarchs are exploiting the middles. We need a fighter who will go out and battle concentrated economic power.
- The second is the multicultural story: American history has been marked by systems of oppression. Those who have been oppressed — women, African-Americans, Latinos — need to stand together and fight for justice.
.. Racial justice socialism seems to be the story of the contemporary left. This story effectively paints Trump as the villain on all fronts, and Democrats do face the distinct problem of how to run against a bully like Trump. But is it good politics for the entire Democratic Party to embrace it?
.. no national Democrat has ever fully embraced this story successfully. In fact, Democrats like Bill Clinton and Barack Obama went to great lengths to assure people they were not embracing this story.
- .. They did because Americans trust business more than the state, so socialism has never played well.
- They did it because if you throw race into your economic arguments you end up turning off potential allies in swing states like Wisconsin, Iowa and Pennsylvania.
- They did it because if you throw economics into your race arguments you end up dividing your coalitions on those issues.
In brief, Democrats have stayed away from this narrative because the long hoped-for alliance between oppressed racial minorities and the oppressed white working class has never materialized, and it looks very far from materializing now.
.. for 100 years, Democrats have tended to win with youthful optimism and not anger and indignation.
.. The Democrats who have won nationally almost all ran on generational change — on tired old America versus the possibilities of new America:
- F.D.R.’s New Deal,
- J.F.K.’s New Frontier,
- Bill Clinton’s bridge to the 21st century and
- Obama’s hope and change.
If I had to advise on a Democratic narrative I’d start with three premises:
- First, by 2020 everybody will be exhausted by the climate of negativism and hostility.
- Second, the core long-term fear is American decline; are we losing our mojo?
- Third, communities and nations don’t come together when they talk about their problems; they come together when they do something on behalf of their children.
Maybe the right narrative could be rebuilding social mobility for the young: America is failing its future. We need to rally around each other to build the families, communities, schools, training systems and other structures to make sure the next generation surpasses this one. People are doing this at the local level, and we need a series of unifying projects to make national progress.
.. This story pushes people toward reconciliation. It is future-oriented.
“An attack on our country.”
.. But a lawful raid on his attorney’s office and hotel room is what prompted the president to use those immensely weighted words. They’re a signal — make that a siren — of how cornered he feels, how monstrously large his belief in his own persecution has grown and what a perilous situation America is in.
.. Some unrelated swipe at perceived enemies or random assertion of potency by a man who cannot bear any image of impotence and is always ginning up distractions, as both a matter of strategy and a function of temperament?
.. He was telling us, yet again, not to trust our own government. And he was reminding us, in shocking fashion, about his readiness to sell (and buy) fictions if they serve his self-interest, which he reliably puts before all else.
.. Even though Cohen is the apparent focus of their interest, Trump, too, must feel hideously exposed. This is a man who refused, despite intense pressure, to release his tax returns
.. Now information that may be much more private, and much more damning, is in strangers’ hands.
.. Trump, during a meeting that was supposed to be about Syria, went on and on about the “disgrace” (he used that word seven times) of Mueller’s investigation
.. It was the full martyr complex and all the greatest hits in one meltdown. Mike Pence sat stone-faced on one side of him, John Bolton without much expression on the other. It’s hard to imagine either of them having the rapport with Trump to calm him down.
.. There is no Hope Hicks anymore, no Rob Porter, no Gary Cohn, no H. R. McMaster: The ranks of people who either gave Trump a sense of comfort and stability or sought to steer him away from his most destructive impulses have thinned. He’s more alone than ever. He must be more frightened, too.
But not half as scared as the rest of us should be.
Why Gun Control Loses
There are many more intense, relatively single-minded supporters of gun rights than opponents of it. An elected official is much more likely to lose office because he voted for regulating guns than because he voted against it.
.. Gallup has been polling Americans about guns for years. It finds public support for many regulations, and sometimes broad support. “Universal background checks” drew 86 percent approval in its most recent test of the issue. The public also believes that “easy access to guns” is a major factor in mass shootings. At the same time, public support for a ban on the civilian ownership of handguns has been falling for decades. In 1959, 60 percent of the public favored the idea and 36 percent opposed it. By 1975, support had fallen to 41 percent and opposition risen to 55. Now there’s a 76–23 percent supermajority against the idea.
.. A CBS/New York Times poll found that 26 percent of the public, a minority not much larger than the one that wants to ban handguns, thinks that “stricter gun control” would “help a lot” to stop gun violence.
.. Over the last 60 years public confidence in government has declined. Most people do not believe that it would be sensible for the government to try to disarm the population, no doubt in part because of the immensity of the task and the resistance it would spark.
.. What motivates the passionate gun-controllers? If saving lives is the goal, then directing more police resources to high-crime areas might have a bigger impact than any push for gun control
As President Trump manages his latest crises, he is turning to strategies from his tumultuous business career: rely on family and a few trusted advisers, demand absolute loyalty from those beyond the inner circle, threaten opponents with legal action, and insist on bare-bones briefings.
.. His threats — such as tweeting that fired FBI Director James B. Comey “better hope that there are no ‘tapes’ of our conversations before he starts leaking to the press!” — have often backfired.
.. “The day I realized it can be smart to be shallow was, for me, a deep experience”
.. Trump’s view of Washington is rooted in deep distrust of government authority, stemming from the day in 1973 when the Justice Department sued him and his father for racial bias
.. When judges suspended his entry ban that mostly affected Muslim travelers and immigrants, he attacked judges and vowed to “see you in court,” just as he had during his business career.
.. Trump often deployed a tactic of telling others that he was taping their conversations and monitoring their work, and threatening to file lawsuits or to reduce payments owed to contractors. By suggesting that he had secretly recorded his dinner conversation with Comey, Trump apparently hoped to prevent the fired FBI director from speaking negatively about him.
.. Flynn’s firing took 18 days from the time that acting attorney general Sally Yates warned White House Counsel Donald McGahn that Flynn had compromised himself
.. McGahn is the nephew of Patrick “Paddy” McGahn, who once was Trump’s lawyer.
.. Paddy McGahn “was one of the few people that just didn’t care and would say anything to Trump,” O’Donnell said in a telephone interview. “He was a fixer, getting out in front of things, issues that might come, before they turned into problems.”
.. A former White House lawyer who has spoken to McGahn said the counsel ill served the president if he did not make it sound like an emergency.
.. there are concerns that McGahn, unlike his uncle, was reluctant to stand up to Trump.
.. He often paired the lawsuits with verbal vitriol, seeking to intimidate those he sued. While Trump keeps up the vitriol in the White House with his use of Twitter