Democratic institutions remain resilient even when a democratic culture around them is dying. That resilience gives us a 10-20 year window to act, to make the democratic culture less sick, before they snap. But if we don’t or can’t, they will snap.
Stabilizing aggregate demand is one of the key factors in maintaining overall stability, both economic and social
For anyone who truly cares about America, undermining the Fed's independence is one of the worst things you can do to the country
@VladVexler Vlad I love your perspective. Would love to see any kind of detailed dive into the reasons for the trump vote. I get the kind of institutional opacity angle, but not as sure about what attractive forces give Trump power. Hope you feel well!
Look I’m biased. I’ve said in public for years that a Trump victory is the default expectation. But still I dare say: it’s not good enough for people who were certain of a Harris victory to just say ‘I was wrong’. It stems from not understanding how people could vote for Trump.
"I wish it need not have happened in my time," said Frodo.
"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us.”
You have to beat disgraceful post-truth populists. But when you lose to them, repeatedly, you need to reflect. Centrist liberals need to reflect on how far Trump embodies a state of society about which they are in denial and which they helped cause.
The West has serious problems - the worst is Germany, the next is the US, the third is France. The economically and militarily strong countries fail to support Ukraine in % of GDP because they are ruled by people failing to understand elementary security issues.
Sad.