« Commentary Magazine Podcast

The Consequences of Bad Policies

2021-05-07 | 🔗
On today's podcast: Unfortunate job numbers—job creation expected to be around 1 million coming in at 266,000 instead—may be the perfect expression of how intrusive government policy in the form of direct unemployment benefits from the federal government are actually encouraging people to stay home rather than go out to work. More bad policy is in the potential offing through the infrastructure proposals. More bad policy is being made by the notion of waiving patent rights for the vaccines. Give a listen.
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Welcome to the commentary magazine, Billy Podcast these Friday may seventh went to twenty one, I'm John towards the editor of commentary with me, as always: executive editor, a green Waldheim hygiene, A senior writer Christine rose high, Christine John and I see it as our Rossman Heine. Our job. Ok, politically, interesting macro economic news, with many ramifications. The jobs report for April is out and it's terrible.
though normally it's not so terrible its. I think two hundred up two hundred and sixty six thousand jobs, which sounds good, however, at people were expecting as many as billion new jobs, and it's not just that that is problematic, but also that the March number, others were revised downwards, a couple hundred thousand jobs, meaning that the jobs recovery, along with the economic recovery, does not seem to be happening, and I think there are two questions. Are we to address. One is
ordinarily, a White House wants to trumpet news that its behaviour is having positive economic ramifications in terms of jobs, report right and would basically not be happy with the news that the jobs summit are going down. How ever, however, The binding administration is attempting to get this four trillion dollar. You know spending became with Pat EL through or like to get the advantage or momentum are. However, it is its liven like really a proposal. We had a full legislative proposal and it may actually want bad economic news, because then it can claim that we're still in a crisis and that we need all of this extra spending. So that's question one. Is this something that perversely, my?
to be something that the binding administration would welcome. Unlike every other administration, that has ever been a procedure that that's number one in the number to what. If the reason that the jobs report for April and then the jobs report in March, which March was the month in which the care act was passed. What, if what we are seeing the consequences of the extension of federal
unemployment benefits over and above state unemployment benefits through September of three hundred dollars per week or in grand total. If you were made unemployed from March till September, seventy five hundred dollars right into your pocket from the federal government, along with whatever you might get from the state, plus a ten thousand two hundred dollar tax exemption. If you are unemployed this year, and so what are they did? Are we seeing a incredible slow down in jobs created jobs creation because nobody is filling jobs, because the as we have warned and that we ve been worried about federal government large ass is actually paying is actually giving people an incentive not to go back to work, so these are serve connect
But anyway, that's death? Yeah. I think the message we need more extravagant spending, because our extravagant spending has created a crisis is a terrible message and I also think the administration will use it. Ok wiser the terrible message because it sang it saying that that would be the problem. Isn't inherently one of policy here, our policy. We are our spending as a hindrance two to getting things up and running again? Well, I need the infrastructure bill in particular. Has they ve been promoting it? in recent weeks, and it's always about jobs, the union jobs it's. These are good union jobs, people doing clean energy, all the health care. What care workers teachers that the reason that
you're making everything infrastructures at than they can promote. This idea that they're going to create all these new jobs, some of those jobs, are there and ready to be filled. Now it's not a hug me to answer some of the money that there her actually throwing up jobs that are already in existence, I'm not sure how their creating new ones here, but I today. Let me know exactly the fact that the government payments might be suppressing people's willingness to go back to work there. There not just gonna, pretend there's not a contradiction with that, an end their continued spending. They don't see it introduction yeah, I just it's a kind of defies belief to think that near the laws of political gravity had been the old man and the environment ministration in the president, had been touting themselves how many jobs are created in the first hundred deaths millions of jobs, more than any other administration in history, has created these job. Somehow they created these jobs. Now they don't get that talking point and clearly it was when they were invested in before. Presumably they they found some pilot.
will benefit and at which makes a lot of sense and pivoting. Nearly two, well, you know all the jobs we can create on these jobs. I guess that jobs are slowing down sort and I have to throw more money at the economy as Canada, one eighty ok, but so here so the story. I think we need to look get to this correlation question, so the job increase for March, which was projected in the first week of April at seven hundred and seventy thousand nine hundred and sixteen thousand was revised downwards to seven hundred and seventy thousand. So that's a hundred and forty six thousand jobs off the number. and then we have two hundred and sixty six thousand as opposed a million, and we do have the fact that this bill was past as a relief package and the question that the mainstream media are not going to ask, but that is the obvious question is
was there a terrible unintended consequence, not unintended because, of course, of course, they want a billion jobs created. While this is all going on And not that it was unanticipated because we among many other people anticipated and said it is bad idea to pay people to remain in out it to give people extra unemployment benefits when the job when job creation is sizzling for obvious reasons which is today there are jobs that they can get and you dont want to put them in the position of saying I'll, just wait and see if I can get a better one later, we want people in their because their being in the workplace itself creates more economic activity that continent grow more
not anymore says: there's a striking consensus this morning that the conservative critique was right where it, whereas Consensus- and I noticed the political twitter- basically, ok in so far as you can measure such a thing minutes after this event has happened. It's therein, though, in the ether and in part, because you can't hide the fact. The hiring is exploding, it's it's hard to walk out the door without being accosted by somebody who sang we're higher job, one their operating interview will pay yeah. They offering huge bonuses to people who we took. Let me these are like real changes. In other words and instability, application, sometimes, as is with financial incentives. I mean so get here were here's where jobs were gained? Ok, food services and drinking
she's right, because their opening up again right, amusements, gambling and recreation cause they're, opening up again right accommodation, that's hotels, because people can now stay in hotels, again, right, repair and maintenance, because people, if His people's cars are now being more this or whatever? Ok now. Personal laundry services, because maybe people needs had others watch more because they're going back to work local government education. I don't even know what category that is: ok and childcare, dear child, they care services because people women are going back to work Can these places are opening up again and real estate Rula Rental leasing, because, of course, there's a lot of activity and the real estate market? Now here's where the jobs are going down, temporary help services, business support services, careers and messengers, motor vehicles and parts and retail trade unemployment? What is key
these jobs- they are jobs that it will largely be lower, paying right and therefore will be In competition with that, seventy five hundred dollars that the federal government is offering you sit on the sidelines and stay home. Along with whatever it is that your state is going to pay. You writer is going to is going to is going to sub that you. So it's not good like it's not like anyone is you know going to end. a wonderful leisure life with this kind of state provided money, but they could make just the same going back to work. But why should they? Why should the arena Work is ennobling, it's better to work than to be on the dole, and all of that, but not at the present United States is like none, don't worry we'll. the care you know you don't want to work Clearly, I there's a secondary message that this administration
also been sending in the last few months, which is it might not be safe. Yet right, we're not sure we ve turned the corner on this pandemic, an o the variants I mean. I do think if you have a lower paying job in a public facing per profession that, where your risk is higher of of you know- and you haven't, in fact an area and want to get back needed. Why not sit at home for the same amount of money and not have that risk as well, so that must play into some of the minds of the people who don't feel a strong incentive to go back to work there. I think we should mention, and our friend Interpreter Macaroni has a great column. Others in the free beacon is inflation is happening. People Milton Friedman, revenge is coming and CNN lead with that on their news story. This morning they talked about inflation on CNN. that should concern the binding minister vision. We weren't supposed to panic. Remember: there's no point: there's no reason to panic wearing panicking, stop panicking. But what were what Where was the panic about inflation of your first
that was what we were swam panic about, everything right, which was the panic, no relation, but things that my be politically problematic. We're supposed to panic about. You know: kids not wearing mask that summer camp, but we are supposed to where I would that we are supposed to panic about, but we're not was the panic about inflation, okay, so so what? What strikes me as interesting here is the is the long range thinking crisis that is represented by the Cares ACT and by, I would say, democratic and progressive economic ideas, as expressed in it, which is Nobody says that taking a job that pays you twelve dollars an hour is a great thing for the rest of your life. The idea is that you get a job at twelve dollars an hour so that, six months later, you can get a job at thirteen,
always an hour so that six months after that, you can get a job and hazy seventeen dollars an hour. You establish work record. You establish that you can go and on time leave and do it is now sorry and in a growing market in a sizzling economy, your labour will be the subject of competitive bidding. That will do you good and not only that, but of all the end, salary, emotional and psychic. Benefits of taking care of yourself have taken care of your family. Of not sitting home and playing video games in the basement were watching that flicks or whatever it is the people do when they are not working it, particularly after the last year of the pandemic. Right so wit, where is the this thinking was totally
generated in the Cares ACT, which was basically idea that everybody is suffering its light. You know we need to make sure that we're throwing enough money at everybody so that everybody doesn't drown, and that idea was fine. In June of twenty twenty and it was deluded in March twenty twenty one way, We know. I believe that the economy is. You know I don't know where the k you know the economy grew five percent or something like that in the first quarter, that's enormous growth and and and and federal government and that bill interfered with the natural progression of the economy, and the other depressing aspect of this is that these people are in taking jobs, because what why would they when they can get paid?
the same man do nothing, but this also hinders those businesses that need to step up and hinders then from growing at a time when there could be an explosive growth in these businesses. Absolutely I mean and so on, and in that case that's also at inflationary pressure by the radical, Then they have to pay, and I know this is something that labour. Let live. Leftist labour economists don't want me to say, because they they don't believe that that this should be a calculation, but they are going to have to pay more, Then they should otherwise have to pay to staff these jobs, and then how did they deal with that? They have to pass on the cost of it
Greece, labour to consumers, and that is called inflation. That is invalid, as one of the many examples of how inflation works, because in our day that they will, they will have to price accordingly, the goods and services that they provide, based on the cost of their workforce, which is the largest single costs, that much deploys actually have to shoulder, but in a way it's exactly the way. Inflation happens that we ve been predicting, which is did, which is that these employees, these employers, rather have to compete with the federal with the federal government and then, of course, that is the key to the internet. This is where the rubber meets the row with all the infrastructure spending that we're talking about. We have here an almost direct example. I think of how a bad policy has immediate consequences. Right, ok, pretty similar to live.
when they, you know when they ended there, when they ended bail in in a New York's and released it released. Everybody without bail in New York City in New York State and the crime rate went up basically, three weeks later, Everybody who has been arrested would have been kept on, bail, had to be put back on the streets, and then they continue to commit crimes. So that was two thousand and nineteen. Two thousand and twenty. So here we have a case cares act, passes job growth, craters relatively speaking, and they still growing. So I just the pace of job growth has created the entire structure of the infrastructure bill create an economy wide competition for resources with the federal government, not only in terms of lending and like know how much it's going to cost to borrow money, because the federal government is going to be out borrowing money like crazy, but in terms of every job that is created by the infrastructure act. It will then,
Double down on this effect of the of the unemployment money but actually in higher skilled jobs and higher skilled labour actually and then you'll really see inflation, because because then you're gonna be talking about, have really having to compete for for expensive people and passing on the costs to consumers. But this is where is it? gotten some reports that the by an administration sorted knows that their infrastructure pitches is dead in their shifting to us more scaled back packages. Who knows what that's gonna look like in the scale is a relative term here, it's probably gonna, be just as Jake but the politics of this operating interesting, because you know everybody instinctively saw this on. You meet even among the Democrats. Why follow here and saw this and said this? Is it essentially a giant problem for Democrats, because you know it doesn't
There's no more of pressing pocketbook issue, then how much in on paper products cost at the store and if their raising than Europe distant fine to reward anybody who is in power swell you're having to pay more for the goods that didn't Costas must urgently, Go that they paused ass. We know that this is a problem and the button ministrations instinct has been telling into whatever progressive, tell them to do and for residues and that the economic sort of progressive has one idea when big idea and that's it and it's too pay people just give them money. Give people money to do whatever it is. They want to do and that's how we're gonna get to this utopia were seeing the effects of it. when its politically perilous for this administration, of preservation. Instinct alone should lead them to back off a lot of this utopian progressive. Isn't they ve been leaning into well- and this is that's as such, important point, because the ideological argument that absolutely brings a lot of enthusiasm from the political,
that's perfectly on twitter and you see it. You see these little soundbites circulating in and actually, of course, mainstream journalists who are sympathetic to it. Also pick up on this as no basis in the economic reality, but they aren't one of the arguments I've seen often and I'm seeing a lot even just the last few hours is, jobs must be terrible and workers must be being treated horrible. It still choose to just stay at home and not get one. So we really it. This just proves all these jobs are often we shall all women. I rightly exactly where we live in a right to it, but it's a fiction. I mean it in its affection that certain ideological narrative, it's a very powerful narrative for a lot of people who control elite institutions in this country. But as Noah says, if you go the store to buy toilet paper and its a dollar more than it was last week you notice that that's noticeable that there's no. ideological narrative. That's gonna score that circle.
I guess I said this before and I don't want to pull my link like the age card on you guys, but you guys are too young, I think, to remember the effects of hype, inflation in the nineteen seventies and I'm not. I was a tier whether I read about it. I know you read that I read books. Ok, But you know how you know how it was retailed and marketed to everybody in the country that people knew aside from their own experiences at this, because Johnny Carson make jokes about it. Every night, because sitcoms about middle class fan these were loaded and a wash in jokes and routines about a world It was like to come in when you add bags walking through the door or on one day at a time set in Indianapolis, a single divorce mother living with her two daughters and inadequacies, and every show
to begin with her going. Oh, my god, toilet paper just cost two dollars more than did before. Look what's happening with gas prices. You have no idea how central to the american consciousness and how ruinous to the American Cultural Spirit inflation was. We Abu people read about it, but you know Germany in the twenties and all point as it wasn't like an inflation like dad where people could wallpaper you know, could use marks as wallpaper. It was a kind of slow degrading of the value of your money, and this and this haunting effect that as weak passed by weak, everything was just a little more expensive and your money went a little. Not. By this far now this some of this is gonna, be masked by credit card EDA by by the by the degree to which people use credit cards by the greens, which people don't go to the store to shop in the same way, and therefore the bills are sort of come later, but
it's not gonna, be masked forever, and if we follow along this path at the Democrats of caste themselves on they are going to. This is something that we are going to be experiencing for months. If not years. To come, and it is a it is a political, negative political gift that keeps on giving is the point like there's no point at which inflation just goes away. It doesn't serve magically, stop it's like a bolder rolling down here and it's a very very gains rest thing for a country and I understand that, after a sort of forty years of having very little experience of it, it was probably enough but one way or another that we were gonna have to go through another inflationary spiral in order to remember why it was so awful? The odd thing is, the Joe Biden became a senator right. Smack tab in the middle middle class.
Joe became a senator nineteen. Seventy two right after Richard Nixon imposed wage and price controls, and I want to talk about Nixon wage price controls and something else the by menstruation dead. Before I tell you, you gotta go to that podcast feed that you have you gotta, go to apple stature, Google play wherever and subscribe to post corona dancing oars podcast because he has the podcast of the year so far about it's called. This is post corona and it is a kind of our long documentary about what life is like in Israel. He was in his real one of the few people who collins Israel, it has largely been closed out, even though they basically had heard immunity. Zinn Israel talk to tv print,
Sir Fashion designers, restaurateurs academics about what it's like for a country to come out of a pandemic lockdown, and it is eight stunning piece of work, fascinating and full of these lessons and questions at a raises about what happens when a healthy, optimistic society, maybe dies with the news that I can go back to normal and in Israel they have gone back to normal with a vengeance. They have gone back to normal, like crazy. They have gone back to normal, like it is party time. Twenty, four seven and the big question. In the United States is. Is that us or are we clinging in particular, american elites clinging to the idea that we should never go back,
normal, where there is no normal, normal is bad and and- and we know we need to retain this kind of weird neurotic safety regime for as long as we possibly can and maybe forever in all our behaviour should change as a result of the of the pandemic, as we learned important hard lessons about how to live and Israel, which, as you know, the fastest growing economy in the west, a country that went from being a poor country to a rich country in the last fifteen twenty years, despite its political troubles, despite its political crises that is going through now, is a country with firm with its I said, to the future and a sense of possibility, and can we be that country? Can we be like that? That is the question that has proved. That is the key to the question indent sinners, has postponed the whole series and central to,
This thing the progress it is done about Israel go listen to it. Now: Apple Google place Sure, whatever post dancing nor the Israel Podcast- and we thank him for sponsoring the commentary, podcast wage and price controls, I was struck they by the Wall Street Journal Lead editorial, which is the second annual. I think they ve done in two days on the decision. It's not defer like the decision to to abide in Sicily? talk about all the esters podcast to waive patent rights for patent protection for the corona. virus vaccines to allow them to be freely somehow manufactured by the United States in India in Africa in particular.
And they say flatly that this may be the single worst financial decision. Since the imposition of Nixon's imposition of wage and price control, in nineteen, seventy one which not only didn't work but actually in one of those unintended consequence thing ease, helped actually exacerbate and help drive the inflationary spiral of the nineteen seventy. So I thought it was. It was an interesting moment to talk about this again: because we said on the park as yesterday. How is this gonna stand? Is this really gonna happen? I mean, can you just wave his hand and do it? and Pfizer. The Pfizer vaccine is not owned explicitly by Pfizer. There is a german company by when tax, that is its partner in the manufacture and the creation and the patenting of this medication,
at this vaccine and german Chancellor Angela Merkel yesterday said we are not gonna go along with this. We do not go along with this. Meanwhile, Pfizer has wrapped up its production of vaccine doses from an expected one point: two billion this year too, a billion, meaning that it was already producing vaccine that was likely gonna go abroad because, as we know, not only do we need that much, but also vaccine hesitancy rising in this country and and their makeup, just not be the same kind of demand for these doses that that that we would have and they would ship it abroad and and if they could ship it abroad with an american flag on it. Have it manufactured in the United States, largely cuz. We need american jobs. Remember american jobs know we want to send it abroad
India and Africa can can can steal, and China can steal M rna technology. Do a technology transfer where this incredible intellectual good that was largely produced, the United States can be seized and India has a gigantic market in generic drugs, the manufacture of generic drugs. It would like nothing more than to get its hands on this in order to hasten the creation of a generic drugs. They are the ones who make money off cheap drugs so and administered mourned inefficiently. As we said yesterday, what what? What? What drives me crazy about this is in response to the news yesterday I see a lot of takes that say,
something along the lines of will. Surely there is some compromise here, there's a middle ground between the drug companies, keeping the patents and getting that that the young, the vaccine, to countries that need it? What middle ground they want? You want. Why should there be a compromise between good policy and bad policy? That is that is preposterous. This makes me want to tear my hair out. There is a middle ground exists, a pre exists examined here and has already pledged to avoid enforcing its patent rights during the Pandemic flu and bio intact, have partnered with overseas firms to speed the production of its vaccine manufactured abroad and yet, whilst still retaining its ITALY. Property rights and getting all the money that it deserves as a result of its innovations, its miraculous innovations The reason why this policy was put in place at all is because its demi condemning dog it any
they who says we shouldn't wave these patent rights and in these farmers who tackle producers should get what they deserve is accused of being a whore was blood thirsty monster who wants people to bridge once bodies to pile up overseas, just as we spend extended unemployment rights are unemployment benefits here Only as a result of demagoguery, because the people who said well this is going to this is going to have her first agnostic effects were shouted down and called cruel and hard, and we're we're living the nightmare as result of this is largely going to fail this initiative to two way these polarize, I'm pretty convinced that it's going to failing courts, but the fact that were even doing this now is so out, counterproductive, unproductive and predicated on this false assumption that generosity alone is good policy is not what this the demagoguery What is important, because the other thing that happened this weekend and ended in a sure sign that this is a ridiculous idea, is that
of celebrities renown. Jumping on the van. Why right there there were some concert now lay in these ridiculous pseudo royalty. People who were what's their names are tat. The Duke Prince Harry and his wife like right. This open letter about intellectual power would you accept I've intellect if you're gonna write a letter urging businesses to give up their intellectual property rights is horrifying but its, but what they are doing, jumping on an equity bandwagon was very popular in Hollywood and a lot of this vaccine IP discussion has now been reshaped. His vaccine equity, most people think vaccine everything we want to get as many thousands many arms and make sure that no one is left behind. But this is different. This is, as no one has said, punish the people who who took the risk and develop the vaccine in order that other people can when, in fact other people are already unpack to get it without that stripping under this administration, doesn't turn what into a four letter word. I dont know what will it seems. There is nothing, that's that
been done in the name of equity. That is an utterly detestable as up as a matter of policy will you know we can ask Joe Biden these questions, but his press secretary, gents, Aki admitted yesterday that she actually tells him not to answer any questions, which is interesting by the way, because does does he work for Jen Sock AIR does Jen Saki work for him. He can answer questions any any time he wants to. Maybe he doesn't want to answer questions because he's afraid of he'll say when he answers them, but I think we find ourselves in an interesting situation in which a guy who appears to be largely a kind of empty suit, generally speaking, and an empty suit, will lead a kind of
the empty suit administration. That sort of what we could have expected, not that he would be an empty suit sitting at the wheel of a of a car driving recklessly a hundred miles an hour without any breaks. down in out down a crowded, highway and That's one of the reasons the questioners wit where the political instincts here- and it's not just his by the way- and this is where the republic and parties behaviour in the last like for five years helps give you suggest something about what the Democratic Party is going through, which, as you know, these guys gonna run for office again in TWAIN twenty two they own all this, and unless the news is all good, you know that natural dynamic of mid term elections means are gonna, get their hats handed to them
unless there is some kind of triumph fear, so we now have an interference with job creation. We have. We have a kind of war with american intellectual property, just at a time we're supposed to be like leaning, hard into China, on its theft of intellectual property We have, I don't know, continued weird messaging about the pandemic and yeah call clear up next September, so none of this will really matter, but does it feel like it? Does it feel like They're gonna be writing a wave of optimism and have they don't even know how to stimulate one they don't. oh how to celebrate anything and they don't know how to talk up this country. This is the one I have a good example. Is the really important point? Because if you look at how they're trying to market the infrastructure spending bill, there have
you're? Really hard time finding the optimistic message based that they're going around saying, everything's broken, we have to spend all this money to fix it, and that is heard by a lot of people in public like we're all broken. We just spent a year. Vision are getting through this to hear more bad news and then more protein. surely higher tax threats in the future for people, despite their in a vague reassurances that won't happen. I dont think that's necessarily a positive message: either recovery and spending for covert relief immediately was popular with people, the pulse, hey? This is partner with people that their messaging has been more negative and positive from what I've seen when they ve been out on the road promoting this course the economy's broken. It requires an unprecedented redistribution of wealth, the pandemics never gonna be over the country's riven by structural racism. All this is the stuff that the activists love and we ve been saying. This is a big opportunity for republican sister had strike an end
a bashfully optimistic tone about the future of this country, but they can't really do it either. I mean the institutional Republican Party tries the TIM Scots of the world, try and do a very good job of it, though, at the base wants to hear his revenge whereby such as that. I didn't really finish my point before, which is that the Republican Party, a with news about, without with a whiskey, no at enormous economic growth and dead. This than the other thing right, going very strong economic growth and twenty eight in what it trumped. Due for two months, he talked about the caravans, you talked about the care they're coming to kill everybody. What kind of message was that what he wanted was to say stay the course like where it would What we're doing here is going well, things are good. We haven't had internet, we haven't had any international crises since I became president and economic growth is strong and job growth, a strong and unemployment is, you know, descending to you know, levels
hasn't been in fifty years. He said it, but that wasn't where the heat was in its not where the interests of the party was in similar Joe Biden to be saying. They're saying you know what we have: five percent economic growth take off those mass. Let's all go, have fun. Let's, let's live up. Let's make this the warring twenties. Let's have a great time. This country deserves a holiday after the horrors of the last year, but data wanted either because they are addicted to their own version of catastrophism, climate change, destroying the country, inequality, destroying social. Could this social compact every every message about and, of course, structural racism and you know, and and and the sixteen nineteen projects, and all that, what not neither
of these parties thinks well of this country. Now the Republican Party is acting. You know we have that we have the person who is probably going to be out of the house conference walking around going on Steve, Bannon's podcast, saying the election was stolen and that she supports this deranged Count Maricopa County, where people are looking for shards of bamboo in ballots to prove that they were shipped from Asia, because somebody came up with this theory on Or Chan on in the queue and on or a channel sixteen chat or whatever the hell it is in the It went on message boards, and this is the third rankings Gimme a third ranking person in the Republican Party structure on Capital Hill. Nobody has anything good to say about this country is horrifying,
Well, nobody in elite political leadership or mainstream institutions has anything good, but I still believe this may make me sound pollyanna, but I think most Americans still love their country, and so what you see it succeed and still one equal opportunity for everyone. I mean, I think, that's actually the majority there's just there's been such a capture on both sides of the political isle of this negative messaging and such a total capture of our educational, and you know, media institutions that are relentlessly pushing only one message that where, where our people gonna tell those stories where they gonna hear, those stories were, of course, the media have absolutely no incentive. Both both both parts Amelia have no no incentive rikers. That the demo.
medical line. Media wants to talk about the things at once, talk about Thou, which is largely structural racism and by the way there not they're, not relenting, though I thought they would on the border crisis being a problem of family separation rather than of the overwhelming of the american immigration system, and and so that's them, and then, of course, the conservative press are you know the anti structural racism stuff like their destroying our schools and the action was stolen and, although they won't say the election was stolen, a work as they might get sued by dominion. Voting system so that they they gotta, know what they say but told those thou to like Facebook is being means tramper. Whatever you know what I mean area, I think them.
The on both sides. This it comes from the same court, ultimately, which is the appeal of victimhood. How is just so great- and this is a deep cultural malady we used to look down on victimhood, rightly as something that was an obstacle in your path. victim, victimhood mentality and now The idea on both sides is that if you, if you can blame the country, see. Then you are not followed for whatever. Whatever problems you face. This goes for people on the left who are facing those racism and Classes America's for people on the right. the media and the establishment of supposed if we can all be victims. We are blameless, and this is a deep deep cultural now
Well, it's a pathway to power. You can't blame them for following incentive structure is the most powerful political message in this country right now, is. Your circumstances, are not your own, some Ferris person is responsible for some ill defined institution has done this to you and we're gonna get up. in an environment marked by inflation in which your money. Doesn't really is they have the same wealth, their purchasing power, I did yesterday as well ill, weird psychological effects on people and the conspiratorial mindset that every pot powerful politician is catering to right now will only make that paranoia, conspiratorial mindset, worse and I fear further the consequences to the to the american city
impact, and then by and by the way. This is this is why up inflation? This time round is going to be much scarier than than it was in the seventies because because of where the culture that well, and that the cultural institutions that might as John was saying earlier in the seventies kind of market or or kind of tackle it not head on, but in a way that was understandable and and and basically acknowledge it. We're gonna have the opposite here. We're gonna have a pretence forgotten, even more luxurious reality carnation time TV that this can attempt to distract you from what you're living day by day that could be. Although you know I remember the term the story of of the growth of peak tv and the great tv the nineties into thousands as as of a very good buckled, difficult men made made this point that a lot of it it was, was actual the oppressive of trump. If people had understood correctly that it was about the world
concerns and life alterations in the Ives of middle aged white men all across the country from Tony Pronto too, I'm the guy and breaking bad too they pretty much. Every show that you could name was about a morally questionable white guy of his forties, who, from whom the country had gotten away and end the and the desperate, increasingly desperate measures that he might take to keep his you now take two to make it and what was necessary for his family and his people dead, despite his own weaknesses. Similarly, I do know that that that is a very resident thing and you can make all the by the way you can make all the young serve like
minority driven programmes that you want right. You can do all that they can have the same message like you know. You could have it, you have a black family sit com and the family has to go to the supermarket. I mean it's not as though you then have you know it's like their black family, but then you know they they live in Malibu like that's also part and parcel of what what might happen culturally and in the seventies by the way. Remember we were losing, I mean Seventys was a bad time like I'd. Let us make this clear: we had eleven hundred cases of domestic terrorism in nineteen? Seventy one we had we had. We had post offices blowing up and houses blowing up and happens and people being shot on the streets of San Francisco. and we had, we were losing a war, we lost the war, we had the images of the helicopters pulling off the roof in Saigon at the end of April, with one thousand nine hundred and seventy five, we had
we are testing rates in the in the in the US armed forces of people using illegal drugs that it reached forty percent in drug testing, in like one thousand nine hundred and seventy nine we had. a possible nuclear accident we had of. We had a chemicals. We had love island where the chemicals will. We had all kinds of absolutely horrific wherein this things going on as well as a kind of economic collapse and were not there yet a most of what happened to us and caused us. This terribly comic dislocation was external to us. Re was, was I was of contagion that that that pull this off into the reasons that were snapping back so fast, because in fact there was nothing structurally off about what was going on in the? U S account
me, but were now introducing it and part of what I mean when I say we are. There is something sick here is that american know how and ingenuity used to be something that Americans like it was like a it was like our calling card. It was something that everybody could cleanup. Lindbergh flew across the Atlantic, the Wright Brothers created the plane. We had the tallest buildings in the world. We you know we were, can do. As you know, we we built up a minute military in twelve months in nineteen, forty two when we we gonna, we took, we got a man to the moon. We built the interested highway system. All of that. That's all american know how and ingenuity in all this, and we have an incredible example of a right now in the development of these vaccines Who is saying that is the present road states getting up and saying so
magic, marvellous and mysterious, because America is so great did Trump say it does Biden, say it what the hell is going on, it's a gimme, but they can't say it because they are committed in different ways to a message about american decline that they seem to want, because they think they can leverage it from more power and with that incredibly cheerful message, the crushing morosely at the end of this week has hit us we're osity tee shirts available and sweatshirts available for you at merchandise, commentary magazine that come wear them. Join them and for aid Christina now, I'm John put words, keep the caliber.
Transcript generated on 2021-07-26.