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      The American dream is dead for many. Social democracy can bring it back | Bhaskar Sunkara

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      I love the United States. My parents came here from Trinidad and Tobago the year before I was born, and they and my four siblings eventually became citizens. My parents struggled for many years to get established here, but it has offered us everything – security, belonging, opportunity.Yet for many Americans, particularly those who have been in this country for generations building the foundations of American prosperity, the American dream is not alive and well.This point can’t be debated with measures of the United States’ relative affluence; it’s what American workers are telling us, both through how they respond to polls directly on the question and through the political views they increasingly hold. The question isn’t if the American dream is dead, it’s how we go about reviving it.By the time the writer James Truslow Adams popularized the phrase “American dream” in the 1930s, it had already existed as an ethos for generations. Despite the country’s brutality towards Black and Native people, there is a reason why masses of workers saw the United States as a place without the leftovers of feudalism and aristocratic privilege holding people back. Even Karl Marx himself looked to the world’s “most progressive nation” to lead a “new era of ascendancy” for the working classes after the triumph of Union forces in the civil war.Today, however, few at home or abroad hold such hopes for our country.Since it’s just a broad idea, we can’t measure the American dream in empirical terms. If it’s alive, it would be found in the minds of ordinary citizens who feel like they’re part of a project that is rooted in both their individual advancement and national advancement as a whole. And simply, the American dream is dead because ordinary Americans say it’s dead.Only 27% of people polled this year said “the American dream holds true.” Just 13 years ago, it was double that number. This doesn’t just reflect increasing cynicism in general: a majority of Americans say “the American dream once held true but doesn’t any more.” What’s happened to change so many of our minds?That polling isn’t uniform and correlates closely to both income and education, both proxies for social class. Among Americans who don’t have four-year college degrees only 22% say that American dream still holds true, half the mark of those with postgraduate degrees. Our national crisis of confidence is mostly a working-class problem.Americans as a whole, critics retort, are wealthier than ever. But, rather than argue with them, if we want to figure out why people don’t feel like they’re staying above water, we need to examine issues of income disparity and social wealth.The widening life expectancy gap between poor and rich Americans, which now averages more than 10 years, is perhaps the most dramatic example of a basic point that most of us take for granted: a kid growing up in a wealthy area is likely to have a wildly better life outcome compared to one growing up in a poor one.By most measures, the US has among the lowest rates of social mobility of any rich country. And our income disparity is even more stark when considering not just pre-tax wages, but the more expansive “social wage” provided in other countries. The Harvard economist Raj Chetty has shown the depth of the problem. By his measure, US absolute mobility – the chance a child will earn more than their parents – has fallen from 90% for children born in 1940 to 50% for children born in the 1980s. The problem isn’t just that growth rates have declined. Chetty and his co-authors note that an economy that maintains our current income disparity but restores growth to booming 1940s and 50s levels would only increase absolute mobility to 62%.This problem of social mobility is compounded by issues of social welfare owing from our poorly designed entitlements, which are unable to deliver results as well as universal welfare states in Europe that offer things like childcare for new families, guaranteed national healthcare, and free vocation and trade schools.Another key difference between the US and northern Europe? The role of trade unions and other forms of working-class representation. In 1983, over 20% of Americans belonged to a union. That number is 10% now, compared with almost 70% in countries like Denmark and Sweden.The loss of good union jobs, particularly in manufacturing, persistent poverty and hopelessness have fueled social ills in communities across the country.To name just a few of their consequences: we face a serious problem with drug use and overdoses, with 107,543 people dying last year alone. Alcohol abuse has gone up dramatically, as have alcohol-related deaths. Between mass shootings and ordinary crime, people don’t feel safe, and our politicians seem to accept as natural fact that we’re destined to be a country with eight times the murder rate of Germany or where children need to pay attention during “active shooter” drills.Taken together, it’s obvious that you’d have a better chance of living the American dream in Europe than you would in America.Of course, some of the pessimism that people feel is inflamed by ideological actors. From parts of the left, earnest attempts to right historical wrongs might have fueled an excess of negativity about the progress we’ve made in recent decades. On the right, a much more dangerous tendency is built around the idea that immigration – a key component of the American dream and our economic progress – is a social ill that needs to be combated.Thankfully, the United States has a rich, dynamic economy. That’s a good thing and it allows us to support well-designed universal programs to improve the social mobility and material wellbeing of our poor and working classes. We can pursue taxation policies that better redistribute wealth and create greater state support for health care, childcare, housing and job training. We can shift the funding of K-12 education away from unequal property taxes and to a more equal base of federal support. We can also support worker unionization and expand policies to revitalize domestic manufacturing.As for concerns over immigration, a key part of Donald Trump’s appeal, we can support native-born workers feeling pressure in the job market from immigrants without elevating their situation to a zero-sum, existential battle in which either new Americans or established Americans will survive.We also, however, need to rally behind a vision of politics to go with these social-democratic policies. A vision of politics in which we assert the moral worth of every American and strive together to build a healthier and more optimistic society.We can’t pretend like things are going great in our country. But we also must reject the pessimism that says things must stay like this.

      Bhaskar Sunkara is the president of the Nation, founding editor of Jacobin and author of The Socialist Manifesto: The Case for Radical Politics in an Era of Extreme Inequalities More

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      Price-gouging is illegal in 37 US states. Let’s make it 50 | Bob Casey

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      Over the past few years, Erin Wiggle has approached every trip to the grocery store with a sense of dread. During each visit, the retired army veteran, small business owner and mother from Worcester Township, Pennsylvania, has seen her budget stretched thinner and thinner as prices keep ratcheting up for the goods her family relies on. Erin’s burden has grown heavier despite pandemic-related supply chain issues subsiding, and she has a growing sense that the companies making the products she needs are padding their profits at the expense of her family.Erin is right. Under the cover of inflation, companies have raised the prices of everyday household items to rake in record profits at the expense of American families. As my investigation into what I’ve called “greedflation” shows, from mid-2020 to mid-2022, corporate profits rose by 75% – five times as fast as inflation. In fact, corporate profits jumped so much that they played a major role in causing inflation – according to the Federal Reserve, corporate profits accounted for all the inflation from July 2020 through July 2021 and 41% of all inflation from July 2020 through July 2022.We should not let powerful corporations use a crisis to jack up prices way beyond what is necessary to make a profit. In fact, many states across the country have already steeled themselves to fight the most egregious examples of this shameful practice. Laws against price-gouging are on the books in 37 states and the District of Columbia, giving state attorneys general the power to investigate and prosecute companies that excessively raise prices during emergencies. In the US Senate, I’ve introduced legislation with my colleagues Elizabeth Warren and Tammy Baldwin to give the federal government power to do the same.In recent weeks, after Kamala Harris embraced our bill as a part of her economic agenda, the legislation has come under fire from various defenders of corporate greed. These critics appear to have missed the fact that the federal legislation is modeled on laws that are already in effect across the nation, where capitalism is still alive and well. In Texas, for example, where the attorney general has the power to take on companies that unfairly exploit state residents, the governor regularly touts the state as the best place to do business in the country.Similarly, the critics are ignoring the very real protections these laws have offered for consumers. In Pennsylvania, where a price-gouging ban was enacted in 2006, the office of the attorney general investigated hundreds of cases of businesses taking advantage of Covid-19 to price-gouge desperate consumers. The investigations ultimately led to fines and to restitution for many consumers who were taken advantage of in the early days of the pandemic, including hundreds of thousands from just one seller alone.Bans on price-gouging protect victims from companies that would take advantage of different crises to rip off scared consumers. In New York, the state was able to punish Walgreens for taking advantage of customers during the infant formula crisis when supply chain issues reduced the availability of baby formula across the country. In North Carolina, the attorney general won a series of cases against companies that gouged consumers following hurricanes. In both Kentucky and Idaho, companies were held accountable for artificially forcing up gas prices in the wake of pipeline closures.These laws don’t just prevent price-gouging on a case-by-case basis; they also send a message to companies about where and when to draw the line. In the 37 states with price-gouging bans, companies can still raise prices, and they can still bring in a healthy profit for their shareholders. It’s only when they seek to take advantage of a crisis to fleece consumers that they can expect the government to step in and stop them. Our bill would apply this standard to massive corporations that exploit consumers while specifically protecting small businesses under $100m in earnings that don’t have the same power to set prices.There are multiple factors that contribute to the high cost of living, but there is no question that corporate greed plays a role. While companies have a right to turn a profit – even a substantial one – American consumers deserve to pay fair prices. That means holding giant corporations accountable when they go too far to make a buck.Giving the federal government the power to investigate and prosecute large companies that price-gouge isn’t a campaign gimmick, nor is it the beginning of the end of capitalism in America. It’s simply a way of ensuring that when corporations are using a crisis as an excuse to jack up prices on consumers, we will not surrender – instead, we will fight back.

      Bob Casey is a US senator representing the state of Pennsylvania More

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      Election outcome may depend on whether Harris or Trump can rebrand themselves as ‘new’

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      When Kamala Harris sat down for her first interview as the Democratic presidential nominee, she praised Joe Biden for his intelligence, commitment, judgment and disposition. But twice she used the phrase “turn the page”. And twice she used the phrase “a new way forward”.This was no accident. US voters are yearning for a shift in direction, with two in three saying the next president should represent a major change from Joe Biden, according to a national poll conducted by the New York Times and Siena College. Yet in November they face a choice between two known quantities: Harris, the sitting vice-president, and Donald Trump, a former president with an inescapable four-year record.Just 25% of voters think Harris signifies a major change, the poll found, while 56% believe she represents “more of the same”. When it comes to Trump, 51% think he would offer major change, whereas 35% consider him more of the same. Victory in the race for the White House might be decided by which of these quasi-incumbents can rebrand themselves as a breath of fresh air for a weary, divided nation.Despite the polling, Democrats are convinced that Harris has the momentum. “The American people are looking for not just new faces but a new message,” said Donna Brazile, a former acting chair of the Democratic National Committee. “They’re looking for somebody who can heal our divisions and close our partisan divides. To the extent she’s running on a message of bringing the American people together, it helps her become a change agent.”Since 1836, just one sitting vice-president, George HW Bush in 1988, has been elected to the White House. Those who tried and failed include Richard Nixon in 1960, Hubert Humphrey in 1968 and Al Gore in 2000. Gore’s decision to distance himself from his popular but scandal-plagued boss, Bill Clinton, may have proved costly in his narrow defeat by George W Bush.Harris, a former senator, California attorney general and local prosecutor, became the first woman and person of colour to serve as vice-president after Biden selected her as his running mate in the 2020 election. Like most vice-presidents, she gained relatively little public attention for three and a half years.And when she did, some of the headlines were negative, for example those regarding her role in tackling the root causes of immigration and apparent discontent in her office. Axios reports that of the 47 Harris staff publicly disclosed to the Senate in 2021, only five still worked for her as of this spring.But after the president’s feeble debate performance against Trump on 27 June, everything changed. Biden bowed to pressure, dropped out of the race and endorsed Harris. The Democratic party quickly rallied around her with a combination of relief and energy bordering on ecstasy.Speakers at the recent Democratic national convention in Chicago dutifully paid tribute to Biden’s service but then pivoted to looking forward to a new era under Harris. Her acceptance speech, and a biographical video, did not dwell on her vice-presidency but rather introduced her life story as if for the first time.Brazile, a Democratic strategist, said: “People see don’t see her as vice-president in large part because they rarely see the vice-president as leading the country. But she’s campaigning on a platform that includes bringing people together, ensuring that most Americans can make ends meet.“Donald Trump is a prisoner of the past. She’s a pioneer of a future. That’s the message that brings people in line with her values versus what he campaigns on every day, which is all about attacks, insults and derogatory statements.”On the campaign trail, Harris has been walking a political tightrope, embracing her boss’s achievements while keeping his unpopular baggage at arm’s length. Whereas Biden touted jobs and growth numbers, Harris has acknowledged the rising cost of living and proposed a federal ban on grocery price-gouging.Larry Jacobs, the director of the Center for the Study of Politics and Governance at the University of Minnesota, said: “She wants it both ways. She wants to take credit for the improvement in the economy, the number of jobs, the successes of bringing inflation down. But she doesn’t want to be blamed for voters’ continuing frustration that they’ve been hurt because of inflation.He added: “She’s been trying to run as the change candidate, which is very strange because the change motif is for the challenger, not the incumbent party.”The switch from Biden, 81, to 59-year-old Harris instantly removed the Democrats’ biggest vulnerability – age – and weaponised it against Trump who, at 78, is the oldest major party nominee in US history.At the first debate in June, he came over as more engaged and vital than Biden, who stumbled over answers and stared into the distance with mouth agape. At the next debate on Tuesday, it is Trump whose age will be thrown into sharp relief by a rival nearly two decades younger – who would become the first female president in the country’s 248-year history if she wins.skip past newsletter promotionafter newsletter promotionKurt Bardella, a Democratic strategist, said: “We went from a generic where we had two candidates who were pushing 80, so anytime that you add in a new element and someone who is generationally younger, that’s a change without even having to say a word. The fact that we are going from two old white men to a woman of colour – that screams change. It creates the tangible illustration of past versus future.”Trump has been wrongfooted by the Democrats’ abrupt change of nominee and still complains bitterly about it. Nicknames such as “Crooked Joe” and “Sleepy Joe”, as well as criticism of alleged Biden family corruption, now ring hollow. He has continued to repeat his false claim that Democrats stole the 2020 election as he makes his third bid for the White House. Still promising to “Make America great again”, he has lost the mantle of a disrupter taking on the status quo.Bardella, a former spokesperson and senior adviser for Republicans on the House oversight committee, added: “Any time that you’re the candidate whose slogan uses the word ‘again’, that doesn’t scream change. That screams going backwards. Clearly voters want something that’s more forward-facing and, frankly, more optimistic as well. I don’t think we can overestimate the tone difference.“One campaign is saying, it’s a disaster, everything is terrible, America will be destroyed if Kamala Harris is president. The other campaign is saying we can do better, we can be better, our best days lie ahead. It’s much more optimistic and for voters coming out of Covid, January 6, the sense of weariness they have with both Biden and with Trump, that idea of turning the page and having a fresh start is a very appealing sentiment.”The Trump campaign has unleashed countless attacks tying Harris to Biden’s record on immigration, inflation and the US withdrawal from Afghanistan but with little tangible effect, at least so far. Instead, Harris continues to wear her vice-presidency lightly and cast herself as the candidate of the future.Whit Ayres, a political consultant and pollster, said: “She’s not pulling it off because of particular policy positions, but her race and gender create an image of change without ever stressing it or mentioning it.“The idea that a Black, Asian American woman could be president of the United States says change all by itself. That’s how she has created this impression that she is the change candidate in a change election, even though she’s the incumbent vice-president.”Trump would be wise to contrast his White House record with that of the Biden-Harris administration, Ayres argues. “Emphasising the economy and immigration is an obvious place for him to go. And then painting Harris as a San Francisco liberal – and there are plenty of issue positions that she has taken, in the past at any rate, that allow him to do that. If he could actually focus on that rather than using schoolyard bullying name-calling, he could win the thing.”Trump represented the shock of the new in 2016, running as an anti-establishment outsider, rattling the foundations of the Republican party and defeating the Democratic stalwart Hillary Clinton. But eight years, four criminal cases and two impeachments later, many Americans say the act has gone stale and the novelty has worn off.Simon Rosenberg, a Democratic strategist, said: “He feels diminished to me. He feels smaller, less relevant, he’s not breaking through. In part it’s because she’s rising above and talking about where she wants to take the country; she’s not engaging him. He’s using this old formula of creating chaos and fighting with his opponents and she’s not playing, and it’s hurting him.”He added: “There’s only one Trump. This Trump isn’t working the way it used to and they don’t have a plan B, and the Trump campaign’s in trouble. He’s singing the same songs and they’re not connecting the way they used to. It’s a real problem for him.”But the latest New York Times and Siena College poll – in which Trump is up by one percentage point at 48% to Harris’s 47% – makes Republicans sceptical of the notion that she has become synonymous with change in the minds of the electorate.Lanhee Chen, who was the policy director for the 2012 Mitt Romney presidential campaign, said: “There’s no question that if you look at the media narrative, that’s how she’s been framed. But with voters it could be a very different picture. As we get a little bit more data, we’ll be able to get a firmer sense of whether this framing is one that’s taken hold or if it’s just an inside-the-Beltway creation. Hard to say at this point.” More

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      Trump appears to tie high bacon prices to ‘horrible’ wind energy

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      Donald Trump revived questions about his mental acuity after appearing to say that wind energy was to blame for the increased price and decreased consumption of bacon.The former president’s bizarre remarks came at a town hall-style campaign gathering in Wisconsin on Thursday, when an audience member asked the Republican nominee for November’s White House election what he would do to help bring inflation down.Trump delivered a lengthy answer, apparently saying that he blamed wind power for bacon being more costly and therefore eaten less.“You take a look at bacon and some of these products – and some people don’t eat bacon any more,” Trump said. “We are going to get the energy prices down. When we get energy down, you know … this was caused by their horrible energy – wind. They want wind all over the place. But when it doesn’t blow, we have a little problem.”Video clips of Trump’s comments quickly made the rounds online and brought out critics in full force. Some detractors dismissed his answer as “incoherent” and “word salad”.On Friday, Mehdi Hasan – a broadcaster and author and a Guardian US columnist – posted the video of Trump’s remarks on X and asked whether his answer would draw the same level of editorial scrutiny as comments from Democratic presidential nominee Kamala Harris or her running mate Tim Walz.“Will any of the army of factcheckers obsessed with Tim Walz’s dog or Kamala Harris’s McDonald’s summer job be giving any attention to Donald Trump suggesting windmills cause high bacon prices?”In another post featuring the video clips, Hasan argued that Trump should face the same kind of media pressure to end his run for president that preceded Joe Biden’s decision to halt his re-election campaign after a poor performance at a 21 June debate.Hasan wrote: “Historians will scratch their heads about 2024, in which 1 candidate was forced to quit the race for being old & having a bad debate while the other candidate said mad, rambling stuff like this & not only stayed in the race but didn’t get pressured to step aside by the media.”In what seemed like a reference to Trump’s recent comments about bacon, a Thursday night cooking-themed virtual Harris campaign fundraiser hosted by the Democratic congressman Eric Swalwell featured some recipes with bacon.Swalwell on Friday sent out an email touting the success of the cooking call, which included some well-known chefs, and a “notable moments” list conspicuously mentioned the bacon recipes. More

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      ‘Next question, please’ and Gaza war: key takeaways from Harris and Walz’s first interview

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      In a primetime spot on CNN Thursday evening, Kamala Harris and Tim Walz sat for their first interview together as the Democratic ticket, taking questions from anchor Dana Bash on a range of important issues, including their plans for day 1 if they win the race, the approach to the war in Gaza, and how Joe Biden passed the baton.With just over two months until voters will head to the polls on 5 November – and even less time before some will mail in their ballots – the Democratic candidates for president and vice-president made good on a promise to speak more candidly about how they will tackle the US’s most pressing problems.But this interview was about more than just policies and priorities.For weeks, Republicans and members of the media have called for the nominees to open themselves up to questions, especially the vice-president, who has for the most part sidestepped unscripted moments in the six weeks since the president ended his bid for re-election and endorsed her. Analysts and opponents were watching Thurday’s interview closely for new insights into how a Harris administration would approach the presidency, how the candidates interact with one another, and how she would respond in more candid moments.Here’s what we learned:1. Harris: ‘My values have not changed’Bash pushed Harris on how voters should view some key shifts on important policy positions over the years, including on immigration and the climate crisis. Harris responded resolutely saying her “values have not changed” but explained that experience has provided some new insights.“As president I will not ban fracking,” Harris said, reversing a position she expressed during her first bid for the presidency. Explaining that she now believes a “thriving clean energy economy” can be built without a ban, Harris highlighted achievements from the Biden administration, including the US’s landmark climate bill, the Inflation Reduction Act, that have helped set the course. “The climate crisis is real, it is an urgent matter,” she said. “I am very clear about where I stand.”She also spoke about her work on the border and how she plans to address the immigration crisis. “I believe we have laws that have to be followed and enforced,” she said, adding that she is the only person in the race who has prosecuted transnational criminal organizations, work she did as California’s attorney general.2. Day one: strengthen the middle classIf Harris is elected president, she will start by working to strengthen the middle class with a strategy she is calling “The Opportunity Economy”. Building from “Bidenomics” – a platform her predecessor used to move away from trickle-down policies that favor the wealthy and instead grow the economy “from the middle out and the bottom up – Harris outlined her plan to help struggling families.“People are ready for a new way forward,” she said, highlighting that she hopes to bring down costs of everyday goods with key investments, cracking down on price gouging, and expanding the child tax credit. She also reiterated her plan to secure $25,000 in assistance for first-time homebuyers.While she agreed with Bash that prices remain higher than they were during the Trump presidency, she argued that she and Biden ensured the country recovered from the Covid-19 crisis.“Bidenomics is a success,” she said. “There’s more to do – but that’s good work.”3. War in Gaza: ‘We have to get a deal done’“Israel has a right to defend itself – we would,” Harris said, emphasizing that she is “unequivocal” in Israel’s defense and that that position would not change. But, she added: “How it does so matters.”Harris told Bash she supports a two-state solution where Palestinians have “security, self determination, and dignity”, and said she is focused on both getting the remaining hostages out and a ceasefire.“Far too many innocent Palestinians have been killed,” she said. “We have got to get a deal done. This war must end.”4. Tim Walz defends his recordThrough much of the interview, Harris’s running mate Tim Walz nodded in support while she detailed their platform. But Bash had questions for him too, specifically about claims he has made in the past and corrections his campaign has had to make about them.Walz served in the army national guard for 24 years and retired in 2005 to run for Congress, nearly a year before his unit deployed to Iraq. He has been criticized by Republicans who first questioned his decision to depart before his unit deployed, and then scrutinized for a statement he made about “weapons of war” that implied he’d been involved in active combat.Walz also incorrectly described the type of fertility treatments he and his wife sought in their effort to conceive, several times referring to their reliance on IVF. He later clarified they actually used another common fertility procedure called IUI, or intrauterine insemination, which does not involve creating or discarding embryos and is not a target for anti-abortion legislators.“My record speaks for itself,” he said. “I certainly own my mistakes when I make them … I won’t apologize for speaking passionately – whether it’s about guns in schools or protecting reproductive rights – the contrast could not be clearer.”5. Getting the call from Biden“We were sitting down to do a puzzle,” Harris said with a big smile. Before Thursday’s interview, little was known about how she came to learn that Biden would be withdrawing from the race. She described a family breakfast with her “baby nieces”, complete with pancakes and second-servings of bacon, that had just wrapped up when the phone began to ring.“It was Joe Biden. He told me what he decided to do,” she said, adding that he quickly offered his support for her candidacy. “My first thought was not about me – it was about him,” she said.“I think history is going to show a number of things about Joe Biden’s presidency,” Harris added. “He puts the American people first.”6. Impacting future generationsBash also asked about the now viral New York Times photo of young Amara Ajagu, one of Harris’s young grandnieces, watching Harris accept her party’s nomination, and what it means for her as a woman of color. Donald Trump had previously questioned her racial identity, making comments at the National Association of Black Journalists convention saying she “happened to turn Black”.Harris called Trump’s comments “the same old tired playbook”, and dismissed them with a curt: “Next question, please.”But she took the opportunity to look past race while also recognizing the importance of this moment, especially for younger generations.“I am running because I believe I am the best person to do this job in this moment – for all Americans, regardless of race and gender,” Harris said. “But I did see that photograph, and I was deeply touched by it.” More

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      Black US voters’ economic priorities revealed in new advocacy agenda

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      Black Americans strongly support initiatives that would increase the minimum wage to $17, make affordable housing more accessible and create an equitable tax system, according to Black to the Future Action Fund, a political advocacy thinktank. On Thursday, the group released a 55-page economic agenda based on its 2023 survey of 211,219 Black people across all 50 states. The organization hopes that the report will serve as a roadmap for elected officials to address policy holes, and for advocates to generate campaigns that hold politicians accountable.“We have to start imagining what it is that we want and not be so afraid to break out of what is,” said Alicia Garza, founder and former principal of Black to the Future Action Fund, at a Thursday symposium in Atlanta.The agenda suggests a range of policy shifts around worker protections, housing, healthcare, childcare, higher education and taxes, along with examples of successful models already implemented by some state governments and municipalities. “Economic insecurity experienced by Black communities cannot be resolved solely by individual actions like working more hours, getting a college degree or saving money to buy a home,” the agenda’s authors wrote. “These issues are systemic, and government intervention is required to eliminate these inequities and improve outcomes for our people.”Along with increasing the minimum wage to $17, the authors also recommended that elected officials pass labor protections for domestic workers, many of whom are Black women. The expansion of paid family and medical leave laws would help workers care for their household. And on the topic of affordable housing, the thinktank recommended laws that ensure rent payments are incorporated into credit scores so that renters have greater access to obtaining home mortgages.Another suggestion for affordable housing included the development of shared equity programs, which use public or private investments to build or buy homes that are then sold at a reduced rate to low-to-moderate income homebuyers. There are currently 250,000 shared equity models mainly in New York City, according to the agenda. Christopher Towler, a political science associate professor at Sacramento State University and director of the Black Voter Project, called the programs “a really good model to try and get people into the housing market for there to be more first-time homebuyers”.The origins of the US’s persistent racial wealth can be traced back to the transatlantic slave trade, when enslaved Black people were barred from accessing capital generated by their forced labor. During the Reconstruction period after the civil war, then president Andrew Johnson rescinded the 40 acres (16 hectares) of land promised to formerly enslaved Black people.When Black communities did secure economic freedom, they were sometimes violently attacked by angry white mobs, including during the 1921 Tulsa race massacre, where an estimated 300 people were killed. Additionally, banks often denied home loans to Black Americans from the early 20th century until the passage of the 1964 Civil Rights Act that outlawed housing discrimination.View image in fullscreen“The failures of Reconstruction have yet to be made up,” said Towler. “And a large part of that is the continued residential segregation and how Black Americans have been locked out, not only of the housing market, but of the resources, the wealth, the opportunity that comes along with where you live and your access to community.”The legacy of systemic inequality has a continued impact on Black workers today, who earn less than US workers overall, according to 2022 Bureau of Labor Statistics data cited by Pew Research Center. The median weekly earnings of Black full-time wage and salary workers is $878, compared to $1,059 for all US workers, according to Pew.During Thursday’s symposium, the actor and activist Kendrick Sampson, the singer and songwriter Trae Crockett, and the digital storyteller Conscious Lee spoke with Garza about the need for Black communities to brainstorm needed solutions and to band together to effect political change.“When it comes to healthcare,” said Lee, “a lot of us … have internalized the Black inferiority when it comes to that industry. So for me, it’s really reimagining what it looks like for my grandma to get affordable insulin.”Black census respondents listed a lack of affordable healthcare as their fourth most immediate economic concern. Expanding Medicaid to the 10 states that have not done so under the Affordable Care Act could help keep rural hospitals open. “The communities most affected when these rural hospitals close often have significant Black populations,” the report stated, “and closure means rural residents must drive 25 or more miles to access medical care.”While Towler lauded the agenda as the first one he’s seen that addresses the concerns of Black communities nationwide, he believes that it will be a “tough sell” to mobilize Black voters. “Any sort of policy promises right now are going to be looked at with some hesitations, simply because the Biden administration’s policy agenda, although very numerous in its accomplishments, is still in some ways misunderstood,” said Towler. “There’s not a lot of knowledge with the common voter about how the policies that Biden passed have actually affected their individual lives.”According to his research, Towler said that people are encouraged to be civically engaged when they’re taught how political institutions uphold the status quo to resist change: “If you even want there to be a possibility of reparations, we have to continue to vote, continue to be active and continue to put in place policy makers and legislators that are working towards that.”At the end of the symposium, organizers asked participants to share the agenda with their network and elected officials. In the eyes of the Black to the Future Action Fund, the electorate is capable of shifting policy through mass mobilization.“We are the power,” Sampson said toward the end of the symposium. “If we all are in alignment and we go in the same direction, now we are more powerful.” More

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      Bitcoin price hits six-week high after Trump backs cryptocurrency

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      Bitcoin has hit its highest level in more than six weeks after Donald Trump said at the weekend he would end the “persecution” of the crypto industry if he wins the US presidential election.The cryptocurrency’s price rose by more than 3% on Monday to peak at about $69,745, the highest since 12 June when the currency changed hands at more than $69,800.The increase comes after supportive comments from Trump at the Bitcoin 2024 convention in Nashville, Tennessee, where he said on Saturday he would make the US the world’s cryptocurrency leader and embrace a more pro-bitcoin stance than his rival, Kamala Harris.The former president said: “I pledge to the bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’s anti-crypto crusade will be over … If we don’t embrace crypto and bitcoin technology, China will, other countries will. They’ll dominate, and we cannot let China dominate. They are making too much progress as it is.”He also said he would sack the chair of the US financial watchdog the Securities and Exchange Commission (SEC), on the first day of his presidency if he won the election. “On day one, I will fire Gary Gensler,” Trump said, to cheers of approval from the audience.Gensler is a noted sceptic about cryptocurrencies, despite aiding them in January by approving exchange-traded funds (ETFs) – a basket of assets that can be bought and sold like shares on an exchange – that track the price of bitcoin.The SEC chair said in a statement approving the ETFs that bitcoin was a “speculative, volatile” asset used for illegal activities including ransomware and terrorist financing. Since 2023 the SEC has launched more than 40 crypto-related enforcement actions.Speaking at the bitcoin convention, Trump said he would establish a crypto presidential advisory council and create a national “stockpile” of bitcoin using cryptocurrency the US government held that was largely seized in law enforcement actions.skip past newsletter promotionafter newsletter promotion“Never sell your bitcoin,” Trump said. “If I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the bitcoin the US government currently holds or acquires into the future.”The Financial Times also reported on Saturday that Harris’s advisers had approached top crypto companies to try to “reset” the relationship between the Democratic party and the sector. Approaches had been made to the Coinbase crypto exchange, the stablecoin company Circle and the blockchain payments group Ripple Labs, the FT said. More

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      Another week, another Trump flirtation with fascism

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      Welcome back to the Stakes, our weekly US politics newsletter. I cover democracy issues, and I’m filling in for Adam Gabbatt this week as Donald Trump flirted with a third term in office (yes, that’s illegal) and posted a video promising a “unified reich” (yes, that’s Nazi-adjacent language). Weird how these anti-democratic “gaffes” keep happening! We’ll get into why that might be, after a look at what else is happening in US politics.Here’s what you need to know
      Trump rests, but doesn’t get any restOn the 20th day of the hush-money trial in New York, Trump declined to take the stand and the defense rested. Trump had falsely claimed he wasn’t allowed to take the stand: he was, and he chose not to. Outside the courtroom, he said although the defense would rest quickly, he himself would not be resting. “I don’t rest. I’d like to rest sometimes, but I don’t get to rest.”
      Biden’s Israel problemThe international criminal court’s prosecutor applied for arrest warrants for leaders of Israel and Hamas, and Joe Biden is not pleased. He called the warrant application “outrageous” and said: “We will always stand with Israel against threats to its security.” His strong backing of Israel comes as the progressive left continues to pressure him to end US support for the Israel-Gaza war.
      That’s not the way the flag goesAn upside-down US flag – a symbol of those who believed the 2020 election was stolen – flew outside the home of the supreme court justice Samuel Alito’s home shortly after the January 6 insurrection in 2021. Alito blamed his wife, saying she did it as part of a dispute with a neighbor, but many observers saw it as the latest example of the politicization of the high court.
      Too many coincidencesView image in fullscreenAnother week, another few instances of Trump flirting with fascism.On Monday, Trump’s Truth Social account reposted a video about a second Trump term which included a fake newspaper with reference to a “unified reich”. The term means “empire” in German and is indelibly associated with Hitler’s rule, which the Nazis called the Third Reich.Biden’s campaign seized on it, saying Trump was telegraphing how he’d lead “as a dictator over a ‘unified reich’”. Trump’s campaign defended themselves by arguing it was all a mistake, saying a staffer reposted the video but didn’t see the words.But the video remained on Trump’s page for 15 hours, long after media outlets had reported on it, and stayed up even after the Trump campaign had acknowledged it in its statement.This pattern isn’t new for Trump: he will often use fascist language or nods to extremist groups, then claim it was a mistake or that the left and the media are twisting a narrative.Like claiming he would be a “dictator on day one”, but only for a day. Or promising a “bloodbath” if he lost the election, which his campaign later declared was a reference to the auto industry. Or calling his political opponents “vermin” – something Hitler also did – and saying immigrants are “poisoning the blood” of the US.Most recently, just days before the Truth Social video, speaking at the National Rifle Association’s convention, Trump floated the idea of a third term. US presidents are limited to two terms by the 22nd amendment to the constitution, which was passed in 1951 a few years after Franklin D Roosevelt won his fourth term.“You know, FDR 16 years – almost 16 years – he was four terms. I don’t know, are we going to be considered three-term? Or two-term?” Trump asked the NRA crowd, some of whom responded “three!”He has previously said he wouldn’t try for a third term – which is good, because it’s not clear how he could unless he figures out how to suspend or override the constitution – and if that were to happen, who knows what comes next.Regardless, the prospect of “Trump forever” is clearly on voters’ minds when they’re deciding who to elect this year, a sign that his ongoing authoritarian bent is spooking at least part of the undecided electorate.“I wouldn’t put it past him, now that he owns the RNC, to say: ‘Don Jr is going to do the next term, and he’ll get two,” said one focus group attendee who was quoted by Bloomberg.“‘And then Barron will get two.’ And we’ll just have some fake monarchy.”Worst weekView image in fullscreenArizona’s fake electors. Eleven of them were arraigned on Tuesday in the state’s case against the people who falsely signed documents saying Trump won the state, and the Trump allies who drummed up the idea.Among the 11 were Christina Bobb, an attorney who is now the Republican National Committee’s senior counsel for election integrity; Rudy Giuliani (last week’s “worst week” winner); former Arizona Republican party chair Kelli Ward and her husband, Michael; and Anthony Kern, a sitting state senator.Giuliani, 80, is so far the only one charged who was required by the court to post a bond, for $10,000. The former New York City mayor led the attorney general’s office on a cross-country chase, which culminated at his birthday party – after taunting the AG on social media – where court officials served him the charges. He later complained that the summons was not delivered to him “stylishly”, though it’s more stylish than usual to serve charges by crashing an 80-year-old’s birthday bash.skip past newsletter promotionafter newsletter promotionBiggest lieView image in fullscreenTrump. The former president was in my home state last Friday for a fundraiser where he again told a whopper: that he won Minnesota in the 2020 election.Obviously, he falsely claims nonstop that he won the entire election in 2020. But the Minnesota claim is a bit newer, as he tries to make the case that the state’s voters should swing to him.“I thought we won it in 2016. I thought we won it in ’20 – I know we won it in 2020,” he said, according to NBC.The 2020 election in Minnesota was not close: Trump lost by more than 233,000 votes, though he was closer in 2016, losing to Hillary Clinton by less than 45,000. Could he win the state in 2024? If he did, it would almost certainly mean Biden lost spectacularly nationwide: Minnesota is a Democratic stronghold for presidents, and the last Republican who won it was Richard Nixon in 1972.Elsewhere in US politicsView image in fullscreen The majority of Americans – nearly three in five – wrongly believe the US is in an economic recession, and many blame Biden, an exclusive new poll for the Guardian revealed. You can also take our quiz to see if you know how the US economy is faring. Two states have required schools to show an animated video in sex ed classes called Meet Baby Olivia, created by an anti-abortion group to show fetal development. Carter Sherman reports on the latest front of the anti-abortion movement. A Republican concerned about election fraud in 2020 found no fraud once he took over his county’s elections after winning office, Alice Herman reports from conservative Hillsdale county, Michigan.Words fail usView image in fullscreen“If I put my name on something, I really believe it”: Rudy Giuliani, who declared bankruptcy and owes massive legal fees and debts from various civil and criminal lawsuits, on his new coffee line, which he called “smooth, rich, chocolatey and gentle on your stomach”. More