European public figures are deeply concerned about the chance that China might want to make a big contribution to their rescue fund
A Chinese policeman on duty in front of the European Union delegation to China in Beijing / AP
It's fascinating to watch European public figures freak out over a possible "bailout" from China. Though the president of the European Central Bank, according to the BBC, "has denied that eurozone countries are going 'cap in hand' to China" to raise money for their rescue fund, clearly this is exactly what others think is going on, and they're far from okay with it.
Nicolas Dupont-Aignant, a current candidate for the French presidency, has called potential Chinese assistance "dirty money," saying China "exploits its people" and is "a Communist dictatorship." Granted, Dupont-Aignant isn't quite mainstream, being the leader of the Gaullist, euroskeptic Debout la République party. But the Socialist candidate for president, Francois Hollande, has also come out against the plan. "Can we imagine that China ... were it to come to the aid of the euro zone, would do so without any compensation?" he's asked. The French Le Monde has reported that he sees the proposal as an "admission of weakness."
Meanwhile, the head of Germany's BDI, or Federation of German Industries, has gone on-record in a German-language interview in Der Spiegel to say that "if we in Europe so organize the stabilization of the euro that we allow political influence from outside, then we make a great mistake." Elsewhere, German newspapers worry about China itself having financial troubles ill reflected in the "official figures."
What's so interesting, of course, is that the U.S. is already highly dependent on Chinese money. It's hard to think of the last time American leaders got publicly worked up over this, even though plenty of experts have expressed concern. The standard balm to American worries is the same one currently on offer in Europe: China needs the American and European markets just as the U.S., and now Europe, need ready cash. There's a limit to how much the Chinese, according to this argument, are likely to mess with us. They're not, for example, going to pull all their money out in one go.
Why are Europeans so much more anxious about relying on China? There are a couple of obvious explanations. The first is that, for Europeans, this will be a new form of reliance on China -- the U.S. dependence has been going on for a while, so it would be odd for Americans to be similarly excited. It's also a more clear-cut decision to debate than when, for example, China started buying up American dollars by the tanker.
But that's not the most satisfying explanation, not least because some American experts think China bailing out Europe is kind of a great idea. Fareed Zakaria is for it, saying this is China's "opportunity to become a 'responsible stakeholder.'" While others, as The Atlantic's own Max Fisher has pointed out, are a bit jittery at what looks like an emerging Chinese lending policy consciously geared towards political influence, the overall response trend appears, as Fisher's own considered argument demonstrates, to be one of practical acceptance.
So is the difference a result of something else? Xenophobia, perhaps? A more conscious West-versus-rest attitude, given that Europeans don't have the same sense as we do of American exceptionalism? Or does Europe just have more vibrant public debate about policy issues? Your choice of explanation may well rest on your attitude towards free market issues and China itself. One thing's for sure: there's nothing like this kind of outcry from Europe to highlight what's not being talked about in the States. Sure, there are occasional op-eds or candidate sound bites that broach the issue. But when you see how potential new debtors in Europe approach it, that looks like breezy indifference.
What use is there today for one of the oldest virtues?
As many Americans go about their days, I imagine they have two little angels perched on their shoulders, whispering conflicting messages about happiness and material wealth. One angel is embodied by James Altucher, a minimalist self-help guru recently profiled by The New York Times. Altucher claims to have only 15 possessions, after having unburdened himself a few months ago of 40 garbage bags’ worth of stuff and never looking back. As I read about Altucher, I rolled the numbers 15 and 40 over in my mind, thinking about the belongings in my bedroom and the garbage bags under my kitchen sink.
The other angel is Tyler Brûlé, the editor in chief of the fantastically high-end lifestyle magazine Monocle and a columnist for the Financial Times. He is the sort of writer who tosses off such lines as “I zipped along the autostrada through the Val d’Aosta with the ever-trusty Mario (my Italian driver for the past 20 years) at the wheel” with little regard for how privileged and pretentious he sounds (especially in his superfluous parentheticals). Still, there is something, I’m a little ashamed to say, that I envy about Brûlé’s effortless cosmopolitanism—which, it’s hard to miss, is only made possible by unusual wealth.
It’s been rough. No vote will change the tenor of American politics overnight.
Books may seem like small comfort. But in a time like this, when it’s hard to understand how American culture became so hate-filled, reading is probably the best possible option—to put down the Twitter, pick up a hardback, and think deeply about how the country has gotten here.
Tristan Harris believes Silicon Valley is addicting us to our phones. He’s determined to make it stop.
On a recent evening in San Francisco, Tristan Harris, a former product philosopher at Google, took a name tag from a man in pajamas called “Honey Bear” and wrote down his pseudonym for the night: “Presence.”
Harris had just arrived at Unplug SF, a “digital detox experiment” held in honor of the National Day of Unplugging, and the organizers had banned real names. Also outlawed: clocks, “w-talk” (work talk), and “WMDs” (the planners’ loaded shorthand for wireless mobile devices). Harris, a slight 32-year-old with copper hair and a tidy beard, surrendered his iPhone, a device he considers so addictive that he’s called it “a slot machine in my pocket.” He keeps the background set to an image of Scrabble tiles spelling out the words face down, a reminder of the device’s optimal position.
Choosing a president isn’t easy in this election, but here are three ways a principled conservative might vote.
The day of decision is nearing. All the talk fades, and one mark must be made beside one box on the ballot. Many Republicans are agonizing. They reject Donald Trump; they cannot accept Hillary Clinton. What to do?
I won’t conceal, I’m struggling with this question myself. I’ve listened to those Republicans, many my friends, who feel it their duty to stifle their anger and disappointment, and vote for Trump; to cast a protest vote for the Libertarian Gary Johnson or the independent Evan McMullin; or to cross the aisle and vote for Hillary Clinton as the lesser evil. On the way to my own personal answer, I found it helpful to summarize the best case for each of these options.
Emphasize the word “best.” If your case for Trump rests on the assumption that America is hurtling toward national doom, if your case for McMullin rests on the hope of tossing the election into the House of Representatives, if your case for Hillary argues that she is a large soul eager to work cooperatively with those who think differently from her. I’d say you are not thinking very clearly. Despair and fantasy are misleading counselors.
Late to this for family reasons, but catching up on an actually astonishing development:
Through the campaign, Donald Trump at times seemed more interested in promoting his business interests than in advancing a political campaign. He took time off this summer to fly to Scotland and tout the opening of a new Trump golf resort. He turned what was billed as a major campaign announcement into a promo for his new DC hotel. A surprisingly large share of the money he’s raised for his campaign’s expenditures have gone to his own businesses (notably Mar-a-Lago).
That is why today’s story, in Travel and Leisure, is so piquant and O. Henry-like. What Trump may have imagined would further burnish his personal brand may in fact be poisoning it. T&L reports that Trump’s new hotels will no longer carry his name!!! Instead they’ll be called “Scion.” Groan, given the actual scions, but fascinating in its own way. From T&L:
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.
Participants in the Church-sponsored Indian Student Placement Program have filed at least three sexual-abuse lawsuits.
Native Americans who were part of a little-known Mormon program from 1947 to the mid-1990s share much of the same story. Year after year, missionaries or other members of the Church of Jesus-Christ of Latter-day Saints approached these families and invited their children into Mormon foster homes. As part of the Mormon Indian Student Placement Program, Native American children would live with Mormon families during the school year, an experience designed to “provide educational, spiritual, social, and cultural opportunities in non-Indian community life,” according to the Church. Typically, the Mormon foster families were white and financially stable. Native American children who weren’t already Mormon were baptized. And some of them now claim they were sexually abused.
She is renowned for championing urban diversity, but her real prescience lay in her fears about the fragility of democracy.
The year she turned 18, Jane Butzner traveled from her hometown of Scranton, Pennsylvania, to the Appalachian hamlet of Higgins, North Carolina, where she encountered a mystery that haunted her for the rest of her life. It was 1934, the midpoint of the Great Depression, a difficult time to hold a job, even an unpaid one. Butzner—later Jacobs—had been laid off from The Scranton Republican after almost a year working without pay as a cub reporter. At her parents’ suggestion, she went to live in the mountains with her aunt Martha Robison, a Presbyterian missionary. Robison had come to Higgins 12 years earlier on a mission and was so staggered by its poverty that she refused to leave. There were no paved roads, school was rarely in session, the illiterate preacher believed the world was flat, and commerce was conducted by barter. Robison built a church and a community center, adopted children, and established classes in pottery, weaving, and woodwork. Nevertheless, the townspeople continued to live a primitive existence in which, as Robison’s niece later said, “the snapping of a pitchfork or the rusting of a plow posed a serious financial crisis.”
A neuropsychological approach to happiness, by meeting core needs (safety, satisfaction, and connection) and training neurons to overcome a negativity bias
There is a motif, in fiction and in life, of people having wonderful things happen to them, but still ending up unhappy. We can adapt to anything, it seems—you can get your dream job, marry a wonderful human, finally get 1 million dollars or Twitter followers—eventually we acclimate and find new things to complain about.
If you want to look at it on a micro level, take an average day. You go to work; make some money; eat some food; interact with friends, family or co-workers; go home; and watch some TV. Nothing particularly bad happens, but you still can’t shake a feeling of stress, or worry, or inadequacy, or loneliness.
According to Dr. Rick Hanson, a neuropsychologist, a member of U.C. Berkeley's Greater Good Science Center's advisory board, and author of the book Hardwiring Happiness: The New Brain Science of Contentment, Calm, and Confidence, our brains are naturally wired to focus on the negative, which can make us feel stressed and unhappy even though there are a lot of positive things in our lives. True, life can be hard, and legitimately terrible sometimes. Hanson’s book (a sort of self-help manual grounded in research on learning and brain structure) doesn’t suggest that we avoid dwelling on negative experiences altogether—that would be impossible. Instead, he advocates training our brains to appreciate positive experiences when we do have them, by taking the time to focus on them and install them in the brain.
The shocking lesson of The Prince isn’t that politics demands dirty hands, but that politicians shouldn’t care.
You remember the photograph: President Obama hunched in a corner of the Situation Room with his national-security staff, including Hillary Clinton with a hand over her mouth, watching the live feed from the compound in Pakistan where the killing of Osama bin Laden is under way. This is a Machiavellian moment: a political leader taking the ultimate risks that go with the exercise of power, now awaiting the judgment of fate. He knows that if the mission fails, his presidency is over, while if it succeeds, no one should ever again question his willingness to risk all.
It’s a Machiavellian moment in a second sense: an instance when public necessity requires actions that private ethics and religious values might condemn as unjust and immoral. We call these moments Machiavellian because it was Niccolò Machiavelli’s The Prince, written in 1513, that first laid bare the moral world of politics and the gulf between private conscience and the demands of public action.