NewYorkTimes, Nov 9, 2016
It really does now look like President Donald J. Trump.
The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Under any circumstances, putting an irresponsible, ignorant man who takes his advice from all the wrong people in charge of the nation with the world’s most important economy would be very bad news. What makes it especially bad right now, however, is the fundamentally fragile state much of the world is still in, eight years after the great financial crisis.
What if something bad happens and the economy needs a boost? The Fed and its counterparts abroad basically have very little room for further rate cuts, and therefore very little ability to respond to adverse events.
Now comes the mother of all adverse effects — and what it brings with it is a regime that will be ignorant of economic policy and hostile to any effort to make it work. So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.
In his victory speech last night, Donald J. Trump paid homage to “the forgotten men and women of our country,” vowing that they “will be forgotten no longer.” This essential political idea — that a vast segment of the nation’s white citizens have been overlooked, or looked down upon — has driven every major realignment in American politics since the New Deal.
In 1932, at the darkest moment of the Great Depression, Franklin Roosevelt evoked the “forgotten man” as a reason to rebuild the economy from the “bottom up.” More than three decades later, after Richard Nixon’s 1968 victory, the journalist Peter Schrag identified the “Forgotten American” — the white “lower middle class” voter — as the key to the nation’s apparent rejection of the Great Society and the New Deal order.
That this “forgotten” American could be used both to uphold and to dismantle liberalism suggests that this American political identity has never been especially fixed. Since the 1960s, the phrase has also implied that the country was paying too much attention to the wrong sorts of people — most notably, to African-Americans — at the expense of the white working class. It is no coincidence that the “forgotten men and women of our country” began their migration into the Republican Party at the very moment that African-Americans were asserting their right to vote, and voting Democratic, in large numbers for the first time. Mr. Trump’s victory will go down as one of the great upsets in United States history, but it is also the product of a long and bitter struggle over race and class in this country.
To Roosevelt, the “forgotten man” encompassed the industrial worker and struggling farmer and Keynesian consumer — ordinary citizens without whom a modern economy would falter. He built the New Deal around this image, establishing the minimum wage, Social Security and the federal right to organize unions. Those reforms cemented the loyalty of the white working class to the Democratic Party for a generation. But the New Deal also “forgot” — or excluded — many people, including African-Americans.
In the 1968 campaign, Nixon capitalized on resentment with calls for “law and order,” a phrase that evoked not only fears of crime, but also anger at protesters and rioters and the college-campus liberals who tolerated them. Mr. Trump put that phrase back into political circulation in 2016, a gesture of solidarity with the old ways of thinking about the “silent majority” — and the “forgotten American.” And though he included “men and women” in his victory speech, Mr. Trump’s campaign mobilized around the same image that once animated the Roosevelt coalition: the “forgotten” white working-class man.
Порочные Уроды США: Obama и Bush и Отвратительный Мошенник, Расист Trump!
WHOREMONGER, WARMONGER, RACIST, SWINDLER, LIAR, NEOFACIST DONALD TRUMP!
Правительство США жестоко нарушило мои права человека при проведении кампании террора, которая заставила меня покинуть свою родину и получить политическое убежище в СССР. См. книгу «Безмолвный террор — История политических гонений на семью в США» — «Silent Terror: One family’s history of political persecution in the United States» — http://arnoldlockshin.wordpress.com
Правительство США еще нарушает мои права, в течении более 12 лет отказывается от выплаты причитающейся мне пенсии по старости. Властители США воруют пенсию!! Всё это — ещё доказательство, что настоящий действующий закон в США — Закон джунглей.
ФСБ — Федеральная служба «безопасности» России — вслед за позорным, предавшим страну предшественником КГБ, выполняет приказы секретного, кровавого хозяина (boss) — американского ЦРУ (CIA). Среди таких «задач» — мне запретить выступать в СМИ и не пропускать большинства отправленных мне комментариев. А это далеко не всё…
Арнольд Локшин, политэмигрант из США