We always knew that Donald Trump was out of touch with most Americans. The fact that he thinks we’re going to kill ourselves if the economy doesn’t improve soon shows how clueless he is about how resilient we are.Only someone of privilege could believe that being without money is worse than death. Obviously, he wasn’t referring to the people who live from paycheck to paycheck and are broke every other week.Of course, everyone is worried that so many people are out of work. We aren’t naive enough to believe that even when the coronavirus pandemic is over, everyone’s job will be waiting.Some com…
The US isn’t in a second wave of coronavirus – the first wave never ended
After sustained declines in the number of COVID-19 cases over recent months, restrictions are starting to ease across the United States. Numbers of new cases are falling or stable at low numbers in some states, but they are surging in many others. Overall, the U.S. is experiencing a sharp increase in the number of new cases a day, and by late June, had surpassed the peak rate of spread in early April.
There’s a hidden economic trendline that is shattering the global trade system
Former U.S. Treasury Secretary Lawrence Summers has recently conceded: “In general, economic thinking has privileged efficiency over resilience, and it has been insufficiently concerned with the big downsides of efficiency.” Policy across the globe is therefore moving in a more overtly nationalistic direction to rectify this shortcoming.
COVID-19 has accelerated a process that was well underway before it, spreading beyond U.S.-China-EU trade negotiations and into the world’s 50 largest economies. As much as many defenders of the old order lament this trend, it is as significant a shift as the dawn of the World Trade Organization (WTO) global trade era.
What happens when Trump stops believing he can win reelection?
If President Trump seems resigned to losing November’s election, he has good reason. The strategy he is pursuing—and it’s generous to call it a strategy—is premised on the idea that he is going to lose. His own advisers acknowledge that there are very few people who can be persuaded to vote for him, and his aim therefore is to do whatever he can to hold his strong supporters while reducing the overall level of turnout.