2016/11/20: In a capitalist democracy, the party of the left has one essential reason for existing: to speak for the working class. This delicate balance ended in the 1990s. Many blame Reagan and Thatcher for destroying unions and unfettering corporations. I don’t. In the 1990s, a New Left arose in the English-speaking world: Bill Clinton’s New Democrats and Tony Blair’s New Labour. Instead of a balancing act, Clinton and Blair presided over an equally aggressive “new centrist” dismantling of the laws that protected workers and the poor.
Enough examples should by now be common knowledge. Bill Clinton signed the final death warrant of the Glass-Steagall Act (itself originally signed into law by FDR), removing the final blocks preventing the banking industry from gambling away our prosperity (leading to the 2008 recession). Bill Clinton also sold us on the promise of free trade.
it is crucial that our cultural elite, most of it aligned with the New Democrats, not be allowed to shirk their responsibility for Trump’s success.
the crisis took years to emerge. It was caused by reckless lending practices, Wall Street greed, outright fraud, lax government oversight in the George W. Bush years, and deregulation of the financial sector in the Bill Clinton years. The deepest source, going back decades, was rising inequality. In good times and bad, no matter which party held power, the squeezed middle class sank ever further into debt.
In 2018, many of those root causes remain, making another economic downturn or collapse possible.
Part libertarian paternalism, part groupthink, the Valley's guiding philosophy was articulated two decades ago
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The party bears plenty of blame for its sorry lot - and for the country's.
People have lost their sense of security, status and even identity. Trump's victory is the scream of an America desperate for radical change
The racism, sexism and xenophobia used by Donald Trump to advance his candidacy does not reveal an inherent malice in a m...
It is increasingly evident that Kaine, and the Hillary Clinton campaign as a whole, is operating at different strategic level than the rest of us.
No matter who wins the Democratic nomination, it is now utterly clear that the Clinton team disastrously misjudged the American electorate. This is not ...
Druid perspectives on nature, culture, and the future of industrial society
The Logjam bug allows attackers to break secure connections by tricking the browser and server to communicate using weak crypto -- but why do browsers and servers support weak crypto in the first place? The answer is in the Bill Clinton-era export restrictions on strong crypto. During the first crypto wars, the Clinton administration forced
Conventional wisdom in the West blames the Ukraine crisis on Russian aggression. But this account is wrong: Washington and its European allies actually share most of the responsibility, having spent decades pushing east into Russia's natural sphere of interest.