It looks like UK Independence Party MEP Nigel Farage took an opportunity to speak truth to power in a way that the Occupy protesters can only dream of:
Okay, so it's a little over the top. And yet . . . this euro doesn't seem to be working out, does it?
Obviously, I've been skeptical for a long while. But of course, it was always possible that I was missing something, so I hesitated to make an excessively confident prediction.
At this point, though, the roads to salvation seem pretty rocky. A eurobond might do the trick--but a really credible eurobond, with serious guarantees for large portions of the outstanding sovereign debt, would require a treaty modification that they don't have time to do.
Can they somehow finesse the legal obstacles? Treasury did somewhat in the dark days of 2008--but only somewhat. Former Treasury officials now tell me that there were avenues they wanted to explore, but couldn't because they were legally non-starters.
If they can finesse the obstacles, do they want to? Germany doesn't seem so hot on the idea.
And even if they want to, would it work? Even France has come under attack in the last few days. Germany cannot guarantee the rest of the eurozone's debt by itself.
Besides, as we've seen, even under the gun, it's hard for peripheral countries to exercise fiscal discipline at the behest of the Germans. Eurobonds might not solve the problem so much as delay it until France and Germany get sick of the costs, or another, even deeper crisis rips apart those guarantees.
What's left? The ECB? Maybe they won't act until there really is no other choice. Or maybe they don't think it's such a good idea. Which is it? Your guess is as good as mine.
At this point, the panic has got up quite a head of steam. It's not clear to me that there's any action which would be timely and credible enough to stop the run on European financial markets that already seems to be in progress.
The candidate has exposed the tension between democracy and liberal values—just like the Arab Spring did.
When I was living in the Middle East, politics always felt existential, in a way that I suppose I could never fully understand. After all, I could always leave (as my relatives in Egypt were fond of reminding me). But it was easy enough to sense it. Here, in the era of Arab revolt, elections really had consequences. Politics wasn’t about policy; it was about a battle over the very meaning and purpose of the nation-state. These were the things that mattered more than anything else, in part because they were impossible to measure or quantify.
The primary divide in most Arab countries was between Islamists and non-Islamists. The latter, especially those of a more secular bent, feared that Islamist rule, however “democratic” it might be, would alter the nature of their countries beyond recognition. It wouldn’t just affect their governments or their laws, but how they lived, what they wore, and how they raised their sons and daughters.
Boosting your ego won’t make you feel better. Instead, try talking to yourself like you would your best friend.
In 1986, California state assemblyman John Vasconcellos came up with what he believed could be “a vaccine for major social ills” like teen pregnancy and drug abuse: a special task-force to promote self-esteem among Californians. The effort folded three years later, and was widely considered not to have accomplished much.
To Kristin Neff, a psychology professor at the University of Texas, that’s not surprising. Though self-esteem continues to reverberate as a pop-psych cure-all, the quest for inflated egos, in her view, is misguided and largely pointless.
There’s nothing wrong with being confident, to answer Demi Lovato’s question. The trouble is how we try to achieve high self-regard. Often, it’s by undermining others or comparing our achievements to those around us. That’s not just unsustainable, Neff argues, it can also lead to narcissism or depressive bouts during hard times.
Meet the Bernie Sanders supporters who say they won’t switch allegiances, no matter what happens in the general election.
Loyal fans of Bernie Sanders have a difficult decision to make. If Hillary Clinton faces off against Donald Trump in the 2016 presidential election, legions of Sanders supporters will have to decide whether to switch allegiances or stand by Bernie until the bitter end.
At least some supporters of the Vermont senator insist they won’t vote for Clinton, no matter what. Many view the former secretary of state with her deep ties to the Democratic establishment as the polar opposite of Sanders and his rallying cry of political revolution. Throwing their weight behind her White House bid would feel like a betrayal of everything they believe.
These voters express unwavering dedication to Sanders on social media, deploying hashtags like NeverClinton and NeverHillary, and circulating petitions like www.wontvotehillary.com, which asks visitors to promise “under no circumstances will I vote for Hillary Clinton.” It’s garnered more than 56,500 signatures so far. Many feel alienated by the Democratic Party. They may want unity, but not if it means a stamp of approval for a political status quo they believe is fundamentally flawed and needs to be fixed.
The Nebraska senator wrote a widely discussed open letter condemning Clinton and Trump. The spirit is right, but the substance is thin.
Kudos to Nebraska Senator Ben Sasse for reaffirming in a widely discussed “open letter” that he won’t support Donald Trump. I just wish the letter weren’t so self-righteously dumb.
Sasse, often mentioned as a potential third-party candidate, addresses his missive to the “majority of America” that believes that “both leading presidential candidates are dishonest.” He goes onto declare that neither Trump nor Hillary are “honorable people” nor “healthy leader[s],” whatever that means.
That’s an ironic way to begin a letter that later denounces “character attacks.” It’s true that many voters doubt Clinton’s trustworthiness. But Sasse offers no evidence that Clinton has been particularly dishonest in this campaign and the nonpartisan institutions that evaluate politicians’ veracity suggest the opposite. The fact-checking website Politifact rates 49 percent of Clinton’s statements “true” and 29 percent “false.” That’s substantially better than Marco Rubio (36 percent true, 42 percent false) and Ted Cruz (25 percent true, 64 percent false), neither of whom Sasse would call dishonest, let alone dishonorable or unhealthy. And it’s in a different solar system from Donald Trump, whose ratio as judged by Politifact is a mind-boggling 9 percent true to 76 percent false.
Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them.
Since 2013,the Federal Reserve Board has conducted a survey to “monitor the financial and economic status of American consumers.” Most of the data in the latest survey, frankly, are less than earth-shattering: 49 percent of part-time workers would prefer to work more hours at their current wage; 29 percent of Americans expect to earn a higher income in the coming year; 43 percent of homeowners who have owned their home for at least a year believe its value has increased. But the answer to one question was astonishing. The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?
If pushed, most people would say, “It’s discriminatory.” That’s the answer my Con Law students often give about various hypothetical statutes. They’re always correct, and always wrong, because all laws are “discriminatory.” Driver’s-license laws and drinking laws discriminate on the basis of age, for example. Immigration law discriminates on the basis of birthplace and citizenship. Tax laws discriminate on residence, income level, home ownership, and occupation.
Stuffed to overflowing with superheroes, the studio’s latest nonetheless understands that character is key.
Way back in 2012, I was genuinely astonished by the cinematic juggling act that Joss Whedon accomplished in The Avengers. Six heroes pulled from widely different walks of super-life: Who could believe he’d manage to integrate them all into a coherent story?
These days, that challenge looks rudimentary. A year ago, Whedon’s The Avengers: Age of Ultron found space to squeeze in three more heroes and a brand-new super-villain, along with another half-dozen characters from the ever-expanding Marvel universe. And now, in Captain America: Civil War—which serves in many respects as a third Avengers movie—we have fully a dozen heroes divvied up into two competing super-teams. At this rate, pretty soon Marvel Studios honcho Kevin Feige will have to rent out a stadium just to accommodate his lycra-clad swarms.
There’s no escaping the pressure that U.S. inequality exerts on parents to make sure their kids succeed.
More than a half-century ago, Betty Friedan set out to call attention to “the problem that has no name,” by which she meant the dissatisfaction of millions of American housewives.
Today, many are suffering from another problem that has no name, and it’s manifested in the bleak financial situations of millions of middle-class—and even upper-middle-class—American households.
Poverty doesn’t describe the situation of middle-class Americans, who by definition earn decent incomes and live in relative material comfort. Yet they are in financial distress. For people earning between $40,000 and $100,000 (i.e. not the very poorest), 44 percent said they could not come up with $400 in an emergency (either with cash or with a credit card whose bill they could pay off within a month). Even more astonishing, 27 percent of those making more than $100,000 also could not. This is not poverty. So what is it?
It’s a paradox: Shouldn’t the most accomplished be well equipped to make choices that maximize life satisfaction?
There are three things, once one’s basic needs are satisfied, that academic literature points to as the ingredients for happiness: having meaningful social relationships, being good at whatever it is one spends one’s days doing, and having the freedom to make life decisions independently.
But research into happiness has also yielded something a little less obvious: Being better educated, richer, or more accomplished doesn’t do much to predict whether someone will be happy. In fact, it might mean someone is less likely to be satisfied with life.
That second finding is the puzzle that Raj Raghunathan, a professor of marketing at The University of Texas at Austin’s McCombs School of Business, tries to make sense of in his recent book, If You’re So Smart, Why Aren’t You Happy?Raghunathan’s writing does fall under the category of self-help (with all of the pep talks and progress worksheets that that entails), but his commitment to scientific research serves as ballast for the genre’s more glib tendencies.
The U.S. president talks through his hardest decisions about America’s role in the world.
Friday, August 30, 2013, the day the feckless Barack Obama brought to a premature end America’s reign as the world’s sole indispensable superpower—or, alternatively, the day the sagacious Barack Obama peered into the Middle Eastern abyss and stepped back from the consuming void—began with a thundering speech given on Obama’s behalf by his secretary of state, John Kerry, in Washington, D.C. The subject of Kerry’s uncharacteristically Churchillian remarks, delivered in the Treaty Room at the State Department, was the gassing of civilians by the president of Syria, Bashar al-Assad.