Tag Archives: Housing Crisis

Trump Pulls A Pete Wilson | Immigration & Children

Today’s video gets into some very interesting territory that I hope to cover more in future (years?). So much of today’s politics in the United States is rooted in this weird idea of “whiteness” and who is a “good American” and who isn’t. These dumb, dumb conversations are of course as old as our republic. Let’s leave aside the fact that the “realest Americans”, the indigenous, and African Americans (few of whose ancestors were forced here after the early 1800s), are somehow never invited to the party.

What today’s video gets into in a small way, is the role of folks from our last (much larger) wave of immigrants around the beginning of the 20th century. It sometimes seems like it’s the newest members of US “whiteness” that are the most vicious in its defense. I’m thinking specifically of the very Irish Sean Hannity, and the very Italian Jeanine Pirro of Fox News. In a small way, the largely illusory “clash” between Trump and the Establishment is a clash between a fresher 20th century New York, Italo-Irish version of whiteness, and an older version. It’s the Nouveau Riche vs. the folks who never let them into their yacht clubs.

This too is a tale as old as time. I’m not sure if it’s seen as not polite, or just plain not relevant to bring up, but I think it’s worth focusing on a bit. You can’t really understand the silliness of conversations around Latinos and other immigrants without understanding how foreign the Irish, and later the Italians, Slavs and Jews were once seen. This idea of “Real America” or “Whiteness” is becoming more and more of a focus of the Trump administration’s public profile. Today’s pardon of the Hammond family, a goal of domestic white terrorists, is one example. As I’ve said before, Trump’s presidency is almost certainly the dying gasp of an older version of “Real American”. Presidential politics has served this role before, though in a more positive sense. John F. Kennedy’s election in 1960 symbolized the acceptance of Catholics into the US mainstream. It didn’t prompt a Trumpian reaction the way that Obama’s presidency did. But that doesn’t mean that Trump’s version of White supremacy is any less dead than the WASP ascendancy is. Like I said, we’ve seen this story before. A new US identity is already forming. That’s why the “whites” are so pissed. Obama got into the yacht clubs before they did.

Is there a contradiction in the foregoing paragraph? Absolutely. And I think it’s worth exploring further. Someday.

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Video Transcript after the jump…

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The Stock Market’s “Trump Bump” Is Over | Markets Are Dumb 2

With today’s video we go all in on discussing the US stock market. There’s this idea that stock markets are somehow rational, or serious. People who talk about it are always wearing suits, and we put a lot of effort into making all the details of interest rates, portfolio management, and valuations seem boring. The stock market is none of these things. In fact it’s nuts. By going through the history of the “Trump Bump”, I attempt to draw the curtain back a bit.

Unfortunately, watching the video, I think I screwed something up. It’s not that the story I put forward is wrong, it’s just that I left too much out. The video falls into the “Presidents impact everything” school of commentary. I hate that school. The differing views market makers took of Trump and Obama are tremendously important to this particular economic story, but that doesn’t mean that presidents are actually all that powerful. I really don’t want to create that impression, and I apologize if I did so with this video.

If you’d like to earn my undying gratitude, please click here to support this project through Patreon. Please do reach out to us through Twitter, Facebook, Youtube, or our e-mail newsletter.

Video Transcript after the jump…

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