445 days after the collapse of Lehman
Brothers and the launch of the current financial crisis, it is tempting to
think that we may be through the worst of it. Unfortunately, these thoughts
were prevalent among sufferers of the Great Depression on January 16, 1931--445
days after Black Monday tolled the beginning of that downturn--but they had a
rocky road still ahead. The Dow wouldn't hit bottom until July 8, 1932. In the
event that our current crisis follows a similar pattern, our nadir would occur
on May 27, 2011.
On Friday, January 16, 1931,
445 days after the beginning of the Great Crash, the Dow was up 2.12 points. At
164.94, it was well below its September, 1929 peak of 381.17 but had almost 124
points yet to fall before finally reaching its lowest point in July, 1932. News,
too, was grim: employment had dropped by 1 percent, which the Bureau of Labor
Statistics chalked up to winter weather and end-of-year inventory-taking. Construction
was down 17 percent, with contractors predicting that the worst was still to
come. In an all-too-familiar finale, newsprint production had plummeted as
On Friday, December 4, 2009,
445 days after the beginning of the current financial crisis, the Dow is up
21.99 points. Signs of optimism returned
after news that the unemployment rate had, for the first time since July,
dropped (from 10.2 to 10 percent). The dollar rallied and
investors gained confidence, moving away from gold, whose price dropped
4 percent from its all-time high on Thursday. But despite this welcome news,
the closing average of 10,388.07 remains 3,776 points below its October 9, 2007
peak--and, if we're looking to the earlier Crash for a potential parallel, we
remain a dizzying 539 days from the bottom.
Is there room in the movement for people who morally object to abortion?
Pro-life women are headed to D.C. Yes, they’ll turn out for the annual March for Life, which is coming up on January 27. But one week earlier, as many as a few hundred pro-lifers are planning to attend the Women’s March on Washington, which has been billed as feminist counterprogramming to the inauguration.
With organizations like Planned Parenthood and NARAL Pro-Choice America co-sponsoring the event, pro-life marchers have found themselves in a somewhat awkward position. What’s their place at an event that claims to speak for all women, but has aligned itself with pro-choice groups? With roughly a week to go before the march, organizers also released a set of “unity principles,” and one of them is “open access to safe, legal, affordable abortion and birth control for all people.”
Why some Americans are withdrawing from mainstream society into “intentional communities”—and what the rest of the country can learn from them
VIRGINIA— For the last eight years, Nicolas and Rachel Sarah have been slowly weaning themselves off fossil fuels. They don’t own a refrigerator or a car; their year-old baby and four-year-old toddler play by candlelight rather than electricity at night. They identify as Christian anarchists, and have given an official name to their search for an alternative to consumption-heavy American life: the Downstream Project, with the motto to “do unto those downstream as you would have those upstream do unto you.”
As it turns out, exiting the system is a challenging, time-consuming, and surprisingly technical process. Here in the Shenandoahs and central Virginia, a handful of tiny communities are experimenting with what it means to reject the norms of contemporary life and exist in a radically different way. They seem to share Americans’ pervasive sense of political alienation, which arguably reached an apotheosis with the election of Donald Trump: a sense of division from their peers, a distrust of government. The challenges of modern politics—dealing with issues like climate change, poverty, mass migration, and war on a global scale—are so vast and abstract that it’s difficult not to find them overwhelming. But instead of continuing in passive despair, as many Americans seem to do, the people in these communities decided to overhaul their lives.
Narcissism, disagreeableness, grandiosity—a psychologist investigates how Trump’s extraordinary personality might shape his possible presidency.
In 2006, Donald Trump made plans to purchase the Menie Estate, near Aberdeen, Scotland, aiming to convert the dunes and grassland into a luxury golf resort. He and the estate’s owner, Tom Griffin, sat down to discuss the transaction at the Cock & Bull restaurant. Griffin recalls that Trump was a hard-nosed negotiator, reluctant to give in on even the tiniest details. But, as Michael D’Antonio writes in his recent biography of Trump, Never Enough, Griffin’s most vivid recollection of the evening pertains to the theatrics. It was as if the golden-haired guest sitting across the table were an actor playing a part on the London stage.
“It was Donald Trump playing Donald Trump,” Griffin observed. There was something unreal about it.
When it comes to basic policy questions such as the minimum wage, introductory economics can be more misleading than it is helpful.
In a rich, post-industrial society, where most people walk around with supercomputers in their pockets and a person can have virtually anything delivered to his or her doorstep overnight, it seems wrong that people who work should have to live in poverty. Yet in America, there are more than ten million members of the working poor: people in the workforce whose household income is below the poverty line. Looking around, it isn’t hard to understand why. The two most common occupations in the United States are retail salesperson and cashier. Eight million people have one of those two jobs, which typically pay about $9–$10 per hour. It’s hard to make ends meet on such meager wages. A few years ago, McDonald’s was embarrassed by the revelation that its internal help line was recommending that even a full-time restaurant employee apply for various forms of public assistance.
A history of the first African American White House—and of what came next
In the waning days of President Barack Obama’s administration, he and his wife, Michelle, hosted a farewell party, the full import of which no one could then grasp. It was late October, Friday the 21st, and the president had spent many of the previous weeks, as he would spend the two subsequent weeks, campaigning for the Democratic presidential nominee, Hillary Clinton. Things were looking up. Polls in the crucial states of Virginia and Pennsylvania showed Clinton with solid advantages. The formidable GOP strongholds of Georgia and Texas were said to be under threat. The moment seemed to buoy Obama. He had been light on his feet in these last few weeks, cracking jokes at the expense of Republican opponents and laughing off hecklers. At a rally in Orlando on October 28, he greeted a student who would be introducing him by dancing toward her and then noting that the song playing over the loudspeakers—the Gap Band’s “Outstanding”—was older than she was.
King's famous "Letter from Birmingham Jail," published in The Atlantic as "The Negro Is Your Brother," was written in response to a public statement of concern and caution issued by eight white religious leaders of the South. It stands as one of the classic documents of the civil-rights movement.
While confined here in the Birmingham city jail, I came across your recent statement calling our present activities "unwise and untimely." Seldom, if ever, do I pause to answer criticism of my work and ideas. If I sought to answer all of the criticisms that cross my desk, my secretaries would be engaged in little else in the course of the day, and I would have no time for constructive work. But since I feel that you are men of genuine good will and your criticisms are sincerely set forth, I would like to answer your statement in what I hope will be patient and reasonable terms.
I think I should give the reason for my being in Birmingham, since you have been influenced by the argument of "outsiders coming in"
In January 1999, Prosecutor General Yury Skuratov was summoned to the Kremlin by then-President Boris Yeltsin’s chief of staff, who showed him a videotape of “a man who looked like” Skuratov frolicking in bed with two prostitutes. Then he asked Skuratov to resign, even though the prosecutor was in the middle of investigating Yeltsin’s administration for taking bribes from a Swiss firm trying to secure lucrative contracts for Kremlin renovations. It was a grainy tape and Skuratov would later say it was fake, but he submitted his resignation nonetheless.
What happened next was one of the most decisive battles in determining who would replace Yeltsin when his second presidential term expired in 2000. Skuratov’s resignation had to be confirmed by the Federation Council, the upper chamber of the Russian parliament—back when it had not yet become a Kremlin rubber stamp. The Federation Council balked and asked Skuratov to testify, but the day before he appeared on the floor, RTR TV ran the tape on its evening news, calling the segment “Three in a Bed.” When the Federation Council continued to resist the Kremlin, and Skuratov tried to go back to work as if nothing happened, the tape was played on TV again, this time on the program of the notorious media hit man Sergei Dorenko. Allowing children to see the tape, Dorenko said, would make it harder for parents to raise them patriotically; this was, after all, the prosecutor general of the Russian Federation, “not Mick Jagger, who can run around the beach with a naked behind.”
Billy Barr moved to the Rocky Mountains four decades ago, got bored one winter, and decided to keep a notebook that has become the stuff of legend.
It was a year into his life alone in Colorado’s Rocky Mountains when Billy Barr began his recordings. It started as a curiosity, a task to busy his mind during the winter. By no means, Barr told me, having skied down from his cabin to use the nearest phone, did he set out to make a vital database for climate change scientists. “Hell no!” he said. “I didn’t know anything about climate change at the time.”
In 1973 Barr had dropped out of college and made his home an abandoned mining shack at the base of Gothic Mountain, a 12,600-foot stone buttress. The cold winds blew through the shack’s wood slat walls as if they didn’t exist; he shared the bare dirt floor with a skunk and pine marten, his only regular company for much of the year. Barr had moved from the East Coast to the Rocky Mountains precisely because of the solitude, but he couldn’t escape boredom. Especially that first winter. So he measured snow levels, animal tracks, and in spring the first jubilant calls of birds returning. He filled a notebook with these observations; then another notebook. This has continued now for 44 years.
The 19-year old company has been purchased for $88 million, which may be the brand’s last great marketing feat.
It’s finally over for American Apparel, the trendy turned-scandal plagued clothing brand whose first store opened in 1997. On Thursday, a bankruptcy court in Delaware approved an $88 million sale of the brand’s intellectual property and manufacturing equipment to Gildan, a Canadian apparel company that focuses on wholesale. Gildan will pay an additional $15 million to acquire American Apparel’s purchase orders and inventory, effectively giving the buyer all the tools it needs to launch a new clothing line from the ruins of the now defunct brand.
Millennials—especially those who identify with the term hipsters—likely remember a time in the early naughts when American Apparel’s snug, expensive t-shirts were emblematic of made-in-America cool. The company’s marketing blended the feel-good altruistic mission of making things in America while its advertising featured over-the-top sex appeal of one of America’s favorite traits: youth.
A massive eradication effort wiped out screwworms in the U.S. 35 years ago—but then they reappeared.
The stray dog came with bad news. This week, the U.S. Department of Agriculture announced that a dog near Homestead, Florida—a city 15 miles north of the Florida Keys—was found with wounds infested with screwworms, the much dreaded flesh-eating pest.
If you’re not familiar with screwworm, it’s because the U.S. poured millions of dollars into eradicating them back in 1982. But last fall, it reemerged in the Florida Keys, catching almost everyone by surprise. Wildlife biologists eventually found several deer on the archipelago with the parasite. Screwworms lay eggs in open wounds, burrowing into the flesh of pets and occasionally even humans. Livestock, historically, was the big economic concern. Florida still sends hundreds thousands of young calves to herds around the country each year, so a screwworm infestation could do some real damage.