As I see it, 5 of the original states could revoke their ratification of the Constitution. Yes, that would create a crisis, but it would also stop this madness in its tracks. Unlike the 1780s, we have models for how to move forward quickly towards something like the EU. Perhaps call it the American Union of States.
If little Estonia could put an end to the madness called the USSR, something similar could happen here.
Thanks Dr Doug. I never thought about revocation of the ratification. Is there some precedent.
Something like the EU has been tried before, it was called a confederacy
When we think of the President of the United States, many people do not realize that we are actually referring to presidents elected under the U.S. Constitution. Everybody knows that the first president in that sense was George Washington. But in fact the Articles of Confederation, the predecessor to the Constitution, also called for a president- albeit one with greatly diminished powers. Eight men were appointed to serve one year terms as president under the Articles of Confederation. In November 1781, John Hanson became the first President of the United States in Congress Assembled, under the Articles of Confederation.
It failed because it did not facilitate commerce. I am all for another try as we have lived and learned since then.
William - The EU does have a president, but in a different sense than the U.S. system. The influence of France on the EU model is clear. A parliamentary model like Germany would be better. In Germany, the president is primarily ceremonial.
A good model is also a parliamentary model with a Federal Council like Switzerland. The presidency in Switzerland is a rotating job among council members.
The EU also has quite a few rules on inter-member trade. The Single Market Act in the 1980s established a free trade zone. That provides a member based trading system rather than a top down commerce clause.
I know we are not in 1780 anymore, as I said the world has changed one hell of a lot. I like the idea of revocation of ratification. The separate states are sovereign , they are bound together only by an agreement to adopt as laws, all laws passed by Congress, that is an agreement that they can revoke at any time.
There are interstate compacts that can take the place of the constitution, and should I can see one between Washington, Oregon, California, even Illinois and Massachusetts
There are many interstate compacts in the United States, including compacts for licensure, water management, and crime prevention.
Licensure compacts
Nurse Licensure Compact (NLC)
Interstate Medical Licensure Compact (IMLC)
Physical Therapy Compact
Emergency Medical Technician Compact (REPLICA)
Psychology Interjurisdictional Compact (PsyPact)
Driver License Compact
Water management compacts Costilla Creek Compact and La Plata River Compact
.
Crime prevention compacts National Crime Prevention and Privacy Compact.
Other compacts Interstate Compact on the Placement of Children, Interstate Commission for Adult Offender Supervision, Multistate Lottery Agreement, and Western Regional Higher Education Compact.
Interstate compacts are agreements between states that are approved by their legislatures. Some compacts require approval from Congress to become federal law.
Perhaps it becomes the Vermont Compact, agreed to in Burlington, VT?
It would provide an opportunity to rethink old ideas and update to the 21st Century.
The issue we face is that 18th-century democratic ideas were not developed with the information technology we have, e.g. social media and AI. The self-correcting mechanisms from the 18th Century are too slow and weak. Yuval Noah Harari, in his book Nexus, suggests that decentralization is a key anecdote to the threats to democracy from technology.
I just read that the new AI technology of Deepseek, was developed in China, and has American tech bros scared and trying to catch up.
Here is what has happened. American tech bros, have been living off the fat, just as Intel and pursuing CEO salaries and shareholder profits, have not been investing in research and development. (This is why American corporations are lagging the world, and why Boeing has gone down the tubes.. shareholder profits are more important than quality or innovation.
On the other hand China has a nation of hungry innovative entrepreneurs competing with each other, where as in America, competition as such as limited to the likes of Ellison, Cook, Musk, et al whose only concern is their own personal wealth,power, and shareholder profits.
We fell behind in chip technology, necessitating government subsidy in the form of the CHIPS and Science act, and now in AI.
The greedy are imploding, and they can't help themselves, they are addicts that need to keep swimming like sharks, less they die.
The "Vermont Compact" is a placeholder name. It's just a suggestion.
Deepseek may prove to be substantially a mirage. I have dealt with Chinese tech in many spheres and it often looks good from afar but is missing a lot when you look under the hood. Hyping it gives the financial bros some market churn so they can make money on volatility.
China has a different approach to AI regulation. It is very state-controlled, unlike the Wild West, which we have in the U.S. The EU has a different approach. Hard to say currently which one is right.
Is that “Free Trade Zone” a tradable institution with stocks etc. I know in Costa Rica where I live it is and it is a very good stock. The documented profits are at least 100%.
During the War of 1812, nothern states also contemplated it. But you can't be serious.
Washington, the first president, and his adviser Al Levine (a/k/a Alexander Hamilton) created a strong central government. Laid out in the Federalist Papers. In the Federalist Papers, the "concept of one nation" refers to the idea that the American states should be united under a single, unified government, where the people of all states are considered as a collective whole, rather than separate entities, with a common interest requiring cooperation and shared governance under a federal system; this concept is central to the argument for ratifying the Constitution, countering the idea of individual states acting as separate sovereignties.
Key points about the "one nation" concept in the Federalist Papers:
Unity in foreign policy:
The Federalist Papers emphasize that to be effective on the international stage, the United States must present itself as a single nation with unified foreign policy decisions.
Addressing internal conflicts:
A unified nation can better manage internal conflicts and disputes between states by providing a central authority to resolve them.
Economic benefits: A single nation can foster greater economic cooperation and stability across state lines, facilitating trade and shared prosperity.
Federalist No. 39:
This essay by James Madison is considered key to explaining the "one nation" concept, arguing that the Constitution creates a system that is neither purely national nor purely federal, but a blend of both, where the people are ultimately considered as a unified whole.
We are no longer in the 19th Century. Many new highly successful democracy models have emerged since then. We do need a reboot and changes to address the concerns of today.
Like a bad marriage, sometimes the only way out is to say goodbye. It will be a multi-year process. Estonia took 3 years to remove itself from the USSR. Expect a similar timeframe with a revocation of ratification.
The slave states didn't rescind their ratification, they seceded. And if Pickens hadn't marshalled the cadets of the citadel to fire on Ft Sumter, they just might have succeeded., all they had to do was to agree to ignore the orders and laws of the United States.
South Carolina seceded in Dec 1860, other slave states followed, the civil war didn't start until Apr 1861 when Pickens and his cadets fired on Ft Sumter.
As we say in court, a distinction without a difference.
As a matter of fact, Tejas and S. Carolina have been toying with it. I know a couple of families that moved a few years ago to S. Carolina because they thought it would secede to becomme a "Christiaan nation." Apparently Obama scared the be-Jesus out of them.
The key here Daniel is that had not S C. fired on Ft Sumter or any slave state initiated a hostility, their would have been no civil war, because there would have been no causus belli. The cannonade was the excuse. So don't give the government the excuse.
Washington, Oregan, California can revoke their ratification and engage in an interstate compact.
Forgotten or overlooked is that each of the 50 states is a sovereign entity.
They are bound only to recognize federal authority if a law is passed by congress, and if that law does not violate the constitution.
The Constitution is only a signed agreement to abide by certain conditions,and any party can back out when aggrieved
The Constitution is not like a contract, because there was no exchange of something of value. There was no exchange of something of value because he several states did not give up their sovereignty and the agreement (Constitution) recognizes that fact.
The Constitution does not stipulate that in exchange for this I will give up that (sovereignty)
. The essence of a contract is a legally binding agreement between two or more parties, where each party commits to fulfill specific obligations, creating a mutual understanding of rights and responsibilities, which can be enforced by law if breached; essentially, it's a formal promise to perform a certain action in exchange for something of value from the other party.
1. That comes from the Jefferson letters when Kentucky was admitted and was baloney then, bull now. Only Virginia supported this philosophy. Overtaken by many events, a Civil War, the 14th Amendment, and especially, critical ridicule.
2. States are not individuals. 2 supremacy clauses in our Constitution; the Constitution, federal laws, and treaties are superior to state laws.
All of this is their plan. The tech oligarchs set the stage by empowering men like Andrew Tate and many others. They poison the minds of people, especially young people and they dismantle the institutions that help people succeed and all for the profits of a few.
It's complicated but IMHO those oligharchs are targets of BRIC countries, led by China, which has us by the gonads. Imagine Germany during the Weimar Republic, when box cars of deutchemarks could not buy a loaf of bread.
Just yesterday, I cited to many alarmist articles in finacial media, E.G. ‘Sputnik moment’: $1tn wiped off US stocks after Chinese firm unveils AI chatbot. "Investors punished global tech stocks on Monday after the emergence of DeepSeek, a competitor to OpenAI and its ChatGPT tool, shook faith in the US artificial intelligence boom by appearing to deliver the same performance with fewer resources."
IMHO the biggest threat is to the value of our currency. Nations worldwide are seeking alternatives to the US dollar, with examples like China and Russia trading in their own currencies, and countries like India, Kenya and Malaysia advocating for de-dollarization or signing agreements with other nations to trade in local currencies or alternative benchmarks. Recently, even some of our so called "allies" have been associated.
I barely survived the devaluation of the Mexican Peso from 6 to the dollar to 60 in one day in 1982. With Trump playing tarriff games, the same could happen with many of our allies. Canada, our largest trading partner, has the capacity to start the attack on the dollar.
I wonder how many of us follow Thom, Heather Cox Richardson, Simon Rosenberg and several other leading voices? Many of us are scared and motivated and we all are on social media, we could be a force if we could coordinate messaging. For example, what if for a week we all took to our social media and sent out a message about billionaires benefiting from crashing the economy. It needs to be word smithed into sound bites that is easily understood. I just think the messages get diluted and with coordination we could make a difference. Could Thom, Heather, Simon and a few others decide what is the most significant message for the week and send to their readers? These are just some thoughts, could others piggyback on these ideas? We have to do something!!
Another idea (Tim Miller, I think) is for a strong loud Dem (Mark Cuban?) to declare for Presidency in 2028 NOW and daily/weekly lead the messaging. As Thom made clear yesterday, there is no Dem messaging plan now and half the country's heads are filled with BS (Jordan Klepper documents). Yes, we have to do something. You're idea is as good as any I've read so far.
Thanks for your comment and I agree. I just think we are a highly motivated group that is in the millions and unused. The Democrats just keep asking for money with no clear plan that I can see.
Thom is right about the oligarch's plans for the economy. Today, I'm writing about the consequences of quitting the WHO and stopping communication and funding of the HHS. Who benefits, and who will be harmed? It won't help those on Social Security.
JD Vance said recently that Trump ran on ‘fixing’ food rising costs on day 1. Vance said “We have no plan.” But apparently there were abundant plans for what Gloria mentions and Trump signed on day 1.
It seems like all of human history can be summarized as allowing a handful of psychopaths to control the fate of the world. How can we ever escape this fate, short of death?
Trump campaigned on a false economic narrative. He sold the idea that America’s economy was failing when it was, in fact, the strongest post-Covid economy in the world. Once again, rightwing media dominance allowed this strategy to succeed. Strongmen always exaggerate adversity to encourage their goons to coalesce against “other.”
This is off topic, but I just had to mention that some posters who were obviously trolling for Putin, and yapped incessantly about Biden the so called imperialist and were so dismayed about "genocide Joe"have suddenly disappeared now that Trump is dictator.
The Muslims just had to give Kamala the finger, because of Biden's support for Israel as it struggled to protect itself from Islamic terrorism and another genocide.
So they either voted for Trump or didn't vote for Kamala, and the Muslim vote made the difference in the swing states of Wi, MI, PA, if they had voted for Kamala there, Trump would have lost, but the Imam's endorsed Trump
Trump's pro-Israel Cabinet Picks Upset Muslims Who Voted for Him
'Trump won because of us,' said one of the founders of Muslims for Trump, 'and we're not happy with his Secretary of State pick and others'
Yes, a real problem right now. Germany also has a constitutional provision that allows banning and dissolution of certain parties. The bar is high but the AfD may have reached this stage with Musk.
A summary of the language is below:
"Parties that, in view of their aims or the behaviour of their adherents, seek to undermine or abolish the free democratic basic order or to endanger the existence of the Federal Republic of Germany must be declared unconstitutional (cf. Art. 21(2) first sentence of the Basic Law). According to the Federal Constitutional Court’s case-law, the mere dissemination of anti-constitutional ideas as such is not sufficient. To be declared unconstitutional, a party must also take an actively belligerent, aggressive stance vis-à-vis the free democratic basic order and must seek to abolish it. In addition, specific indications must suggest that it is at least possible that the party will achieve its anti-constitutional aims. " https://www.bundesverfassungsgericht.de/EN/TheFederalConstitutionalCourt/TypesOfProceedings/ProceedingsForTheProhibitionOfAPoliticalParty/proceedingsfortheprohibitionofapoliticalparty_node.html
It’s obvious that our capitalistic system is not working except for a select few. They have a complete lock on the system so that change is nearly impossible. But it can be done. We need to move to a Scandinavian style system, a blend of capitalism and socialism. For this to happen we need strong leaders in the Democratic Party who are not embroiled in the system, who are lured into the status quo by rewards of stock market gains. We have such people but they are being denied leadership roles in favor of stodgy old men.
It is up to us as individuals to get the ball rolling. Boycotts on everything except the basics. Take to the streets to generate more excitement. Oust the old guys in the next primary.
As we used to say back in the 70s, Power to the People!
Yesterday a Trump supporter "friend" of mine called me in a panic. He said that the lenders were pulling back and he had lost several real estate deals. He said that he hadn't agreed with me in the past, but he did now. It is up in the air what happens when the lenders / banks start withholding loans because they see trouble ahead. Even the rich may find themselves in trouble as their assets begin to loose value. "Shock and awe" is something that isn't confined to a select number of people. I figure in the next 3-4 months we are going to see whether the "conservatives" who have the purse strings are really willing to put up with this madness or start making waves about how all of this is coming down. There is the 1%, but there is also a wider grouping below that who may not be happy with this new revisionist plan of Trump and his minions. Sounded good until it hit their pocketbooks.
Thanks Thom. I sent your "Dems Fatal Flaw" to my two Dem Senators yesterday - who knows if they'll ever see it. Couple this column on economic collapse with JVL's Triad yesterday on "Gangster's Paradise" and you have the plan, the plan to destroy America. Thanks for not letting our imaginations fail us.
I vaguely understood how plutocrats make money during the boom-and-bust cycle of America's economy. But to see how lavish the gains can be, far greater now, and affecting the whole world, is
stunning. And for a President to plan and spearhead such a crash is an unthinkable abomination.
Trump is brazen enough to offer this KILLING to his new crony capitalists. Impeach him now!
For the terminally abundant, economic disaster is not a concern. That's a worry exclusive to literally everyone else on Earth. Thom is as correct as correct can be when he shows that an economic collapse means two very different things to two very different groups. Our group - the 99% - live it through devastation, which it is. Their group - the 1%, where far too much is always far too little - enjoy it is a coup, which it is.
Our resources need to come from within - something they can't fleece us of.
Today's freeze on financial assistance could easily be part of such a scheme. (Besides the just plain mean destruction of what billionaires might disparage as "charity" and "handout" programs to those in need.) When people aren't getting their grants, aid money and even paychecks (some state and city programs are run through federal monies) there will soon be horrific ripples throughout the economy. While many of the recipients are not very wealthy, undoubtedly some of them voted for him. I wonder how they'll feel when their own checks bounce, the refrigerator is empty and the rent is due.
As # 45, Trump did absolutely nothing for local governments. In many red states, federal government grants are the only reason their economies survive.
This mornings headline read, White House pauses all federal grants. Sub headline, Trillions of dollars could be on hold according to OMB memo. I didn't want to believe Thom's theory that Trump and other billionaire's are trying to destroy the economy and thereby the stock market. But, if this pause lasts more than a few days they could very well achieve that goal. Throw in mass deportations and tariffs and the deal would be sealed. The present and future oligarchs are meeting at Trump National Doral, emoluments clause, bah so what. Might makes right.
Wait or act? That is the question.
As I see it, 5 of the original states could revoke their ratification of the Constitution. Yes, that would create a crisis, but it would also stop this madness in its tracks. Unlike the 1780s, we have models for how to move forward quickly towards something like the EU. Perhaps call it the American Union of States.
If little Estonia could put an end to the madness called the USSR, something similar could happen here.
I'm all in for Greater Canada.
Thanks Dr Doug. I never thought about revocation of the ratification. Is there some precedent.
Something like the EU has been tried before, it was called a confederacy
When we think of the President of the United States, many people do not realize that we are actually referring to presidents elected under the U.S. Constitution. Everybody knows that the first president in that sense was George Washington. But in fact the Articles of Confederation, the predecessor to the Constitution, also called for a president- albeit one with greatly diminished powers. Eight men were appointed to serve one year terms as president under the Articles of Confederation. In November 1781, John Hanson became the first President of the United States in Congress Assembled, under the Articles of Confederation.
It failed because it did not facilitate commerce. I am all for another try as we have lived and learned since then.
William - The EU does have a president, but in a different sense than the U.S. system. The influence of France on the EU model is clear. A parliamentary model like Germany would be better. In Germany, the president is primarily ceremonial.
A good model is also a parliamentary model with a Federal Council like Switzerland. The presidency in Switzerland is a rotating job among council members.
The EU also has quite a few rules on inter-member trade. The Single Market Act in the 1980s established a free trade zone. That provides a member based trading system rather than a top down commerce clause.
We are not in 1780 any more!
I know we are not in 1780 anymore, as I said the world has changed one hell of a lot. I like the idea of revocation of ratification. The separate states are sovereign , they are bound together only by an agreement to adopt as laws, all laws passed by Congress, that is an agreement that they can revoke at any time.
There are interstate compacts that can take the place of the constitution, and should I can see one between Washington, Oregon, California, even Illinois and Massachusetts
There are many interstate compacts in the United States, including compacts for licensure, water management, and crime prevention.
Licensure compacts
Nurse Licensure Compact (NLC)
Interstate Medical Licensure Compact (IMLC)
Physical Therapy Compact
Emergency Medical Technician Compact (REPLICA)
Psychology Interjurisdictional Compact (PsyPact)
Driver License Compact
Water management compacts Costilla Creek Compact and La Plata River Compact
.
Crime prevention compacts National Crime Prevention and Privacy Compact.
Other compacts Interstate Compact on the Placement of Children, Interstate Commission for Adult Offender Supervision, Multistate Lottery Agreement, and Western Regional Higher Education Compact.
Interstate compacts are agreements between states that are approved by their legislatures. Some compacts require approval from Congress to become federal law.
Perhaps it becomes the Vermont Compact, agreed to in Burlington, VT?
It would provide an opportunity to rethink old ideas and update to the 21st Century.
The issue we face is that 18th-century democratic ideas were not developed with the information technology we have, e.g. social media and AI. The self-correcting mechanisms from the 18th Century are too slow and weak. Yuval Noah Harari, in his book Nexus, suggests that decentralization is a key anecdote to the threats to democracy from technology.
I never heard of the Vermont Compact.
We definitely need new models, given technology.
You mention decentralization of technology.
I just read that the new AI technology of Deepseek, was developed in China, and has American tech bros scared and trying to catch up.
Here is what has happened. American tech bros, have been living off the fat, just as Intel and pursuing CEO salaries and shareholder profits, have not been investing in research and development. (This is why American corporations are lagging the world, and why Boeing has gone down the tubes.. shareholder profits are more important than quality or innovation.
On the other hand China has a nation of hungry innovative entrepreneurs competing with each other, where as in America, competition as such as limited to the likes of Ellison, Cook, Musk, et al whose only concern is their own personal wealth,power, and shareholder profits.
We fell behind in chip technology, necessitating government subsidy in the form of the CHIPS and Science act, and now in AI.
The greedy are imploding, and they can't help themselves, they are addicts that need to keep swimming like sharks, less they die.
The "Vermont Compact" is a placeholder name. It's just a suggestion.
Deepseek may prove to be substantially a mirage. I have dealt with Chinese tech in many spheres and it often looks good from afar but is missing a lot when you look under the hood. Hyping it gives the financial bros some market churn so they can make money on volatility.
China has a different approach to AI regulation. It is very state-controlled, unlike the Wild West, which we have in the U.S. The EU has a different approach. Hard to say currently which one is right.
Is that “Free Trade Zone” a tradable institution with stocks etc. I know in Costa Rica where I live it is and it is a very good stock. The documented profits are at least 100%.
Precedent - Civil War.
Perhaps the peaceful dissolution of the USSR might also be a more recent precedent?
Doesn't apply.
During the War of 1812, nothern states also contemplated it. But you can't be serious.
Washington, the first president, and his adviser Al Levine (a/k/a Alexander Hamilton) created a strong central government. Laid out in the Federalist Papers. In the Federalist Papers, the "concept of one nation" refers to the idea that the American states should be united under a single, unified government, where the people of all states are considered as a collective whole, rather than separate entities, with a common interest requiring cooperation and shared governance under a federal system; this concept is central to the argument for ratifying the Constitution, countering the idea of individual states acting as separate sovereignties.
Key points about the "one nation" concept in the Federalist Papers:
Unity in foreign policy:
The Federalist Papers emphasize that to be effective on the international stage, the United States must present itself as a single nation with unified foreign policy decisions.
Addressing internal conflicts:
A unified nation can better manage internal conflicts and disputes between states by providing a central authority to resolve them.
Economic benefits: A single nation can foster greater economic cooperation and stability across state lines, facilitating trade and shared prosperity.
Federalist No. 39:
This essay by James Madison is considered key to explaining the "one nation" concept, arguing that the Constitution creates a system that is neither purely national nor purely federal, but a blend of both, where the people are ultimately considered as a unified whole.
https://avalon.law.yale.edu/18th_century/fed39.asp
We are no longer in the 19th Century. Many new highly successful democracy models have emerged since then. We do need a reboot and changes to address the concerns of today.
Like a bad marriage, sometimes the only way out is to say goodbye. It will be a multi-year process. Estonia took 3 years to remove itself from the USSR. Expect a similar timeframe with a revocation of ratification.
You could move to Estonia. Mohammad and the mountain....
The slave states didn't rescind their ratification, they seceded. And if Pickens hadn't marshalled the cadets of the citadel to fire on Ft Sumter, they just might have succeeded., all they had to do was to agree to ignore the orders and laws of the United States.
South Carolina seceded in Dec 1860, other slave states followed, the civil war didn't start until Apr 1861 when Pickens and his cadets fired on Ft Sumter.
As we say in court, a distinction without a difference.
As a matter of fact, Tejas and S. Carolina have been toying with it. I know a couple of families that moved a few years ago to S. Carolina because they thought it would secede to becomme a "Christiaan nation." Apparently Obama scared the be-Jesus out of them.
The key here Daniel is that had not S C. fired on Ft Sumter or any slave state initiated a hostility, their would have been no civil war, because there would have been no causus belli. The cannonade was the excuse. So don't give the government the excuse.
Washington, Oregan, California can revoke their ratification and engage in an interstate compact.
Forgotten or overlooked is that each of the 50 states is a sovereign entity.
They are bound only to recognize federal authority if a law is passed by congress, and if that law does not violate the constitution.
The Constitution is only a signed agreement to abide by certain conditions,and any party can back out when aggrieved
The Constitution is not like a contract, because there was no exchange of something of value. There was no exchange of something of value because he several states did not give up their sovereignty and the agreement (Constitution) recognizes that fact.
The Constitution does not stipulate that in exchange for this I will give up that (sovereignty)
. The essence of a contract is a legally binding agreement between two or more parties, where each party commits to fulfill specific obligations, creating a mutual understanding of rights and responsibilities, which can be enforced by law if breached; essentially, it's a formal promise to perform a certain action in exchange for something of value from the other party.
1. That comes from the Jefferson letters when Kentucky was admitted and was baloney then, bull now. Only Virginia supported this philosophy. Overtaken by many events, a Civil War, the 14th Amendment, and especially, critical ridicule.
2. States are not individuals. 2 supremacy clauses in our Constitution; the Constitution, federal laws, and treaties are superior to state laws.
3. When you play cards, a card laid is a card played. Doctrine of latches. https://www.law.cornell.edu/wex/laches
Thom,
Thank you.
All of this is their plan. The tech oligarchs set the stage by empowering men like Andrew Tate and many others. They poison the minds of people, especially young people and they dismantle the institutions that help people succeed and all for the profits of a few.
We must not give up the fight.
Be safe,
Steve Dundas
It's complicated but IMHO those oligharchs are targets of BRIC countries, led by China, which has us by the gonads. Imagine Germany during the Weimar Republic, when box cars of deutchemarks could not buy a loaf of bread.
Just yesterday, I cited to many alarmist articles in finacial media, E.G. ‘Sputnik moment’: $1tn wiped off US stocks after Chinese firm unveils AI chatbot. "Investors punished global tech stocks on Monday after the emergence of DeepSeek, a competitor to OpenAI and its ChatGPT tool, shook faith in the US artificial intelligence boom by appearing to deliver the same performance with fewer resources."
n
"The tech-heavy Nasdaq Composite closed down 3.1%, with the drop at one point wiping more than $1tn off the index from its closing value of $32.5tn last week, as investors digested the implications of the latest AI model developed by DeepSeek."https://www.theguardian.com/business/2025/jan/27/tech-shares-asia-europe-fall-china-ai-deepseek
How the US may have unintentionally helped create an AI monster in China. https://www.aol.com/us-may-unintentionally-helped-create-035653386.html
IMHO the biggest threat is to the value of our currency. Nations worldwide are seeking alternatives to the US dollar, with examples like China and Russia trading in their own currencies, and countries like India, Kenya and Malaysia advocating for de-dollarization or signing agreements with other nations to trade in local currencies or alternative benchmarks. Recently, even some of our so called "allies" have been associated.
I barely survived the devaluation of the Mexican Peso from 6 to the dollar to 60 in one day in 1982. With Trump playing tarriff games, the same could happen with many of our allies. Canada, our largest trading partner, has the capacity to start the attack on the dollar.
I wonder how many of us follow Thom, Heather Cox Richardson, Simon Rosenberg and several other leading voices? Many of us are scared and motivated and we all are on social media, we could be a force if we could coordinate messaging. For example, what if for a week we all took to our social media and sent out a message about billionaires benefiting from crashing the economy. It needs to be word smithed into sound bites that is easily understood. I just think the messages get diluted and with coordination we could make a difference. Could Thom, Heather, Simon and a few others decide what is the most significant message for the week and send to their readers? These are just some thoughts, could others piggyback on these ideas? We have to do something!!
Another idea (Tim Miller, I think) is for a strong loud Dem (Mark Cuban?) to declare for Presidency in 2028 NOW and daily/weekly lead the messaging. As Thom made clear yesterday, there is no Dem messaging plan now and half the country's heads are filled with BS (Jordan Klepper documents). Yes, we have to do something. You're idea is as good as any I've read so far.
Thanks for your comment and I agree. I just think we are a highly motivated group that is in the millions and unused. The Democrats just keep asking for money with no clear plan that I can see.
Yes, and I'm refusing to give any money to any politician until I see a plan.
It would be brutal due to the orange boy but it should be the plan aiming first at the midterms!
Substack is becoming the most widely read "social media" platform, so would be agree to use this forum? I would hope so.
Yes I do follow them.
Yes - great idea!
Thom is right about the oligarch's plans for the economy. Today, I'm writing about the consequences of quitting the WHO and stopping communication and funding of the HHS. Who benefits, and who will be harmed? It won't help those on Social Security.
JD Vance said recently that Trump ran on ‘fixing’ food rising costs on day 1. Vance said “We have no plan.” But apparently there were abundant plans for what Gloria mentions and Trump signed on day 1.
It seems like all of human history can be summarized as allowing a handful of psychopaths to control the fate of the world. How can we ever escape this fate, short of death?
Extinction is the solution? Allow a new species to arise that's not insane?
Trump campaigned on a false economic narrative. He sold the idea that America’s economy was failing when it was, in fact, the strongest post-Covid economy in the world. Once again, rightwing media dominance allowed this strategy to succeed. Strongmen always exaggerate adversity to encourage their goons to coalesce against “other.”
This is off topic, but I just had to mention that some posters who were obviously trolling for Putin, and yapped incessantly about Biden the so called imperialist and were so dismayed about "genocide Joe"have suddenly disappeared now that Trump is dictator.
Yes, it was clear but the TikTok generation could not see past it. We had endless arguments with our daughter, who is very educated.
We now again authorize the 2,000 lbs bombs for Israel. Go figure!
The Muslims just had to give Kamala the finger, because of Biden's support for Israel as it struggled to protect itself from Islamic terrorism and another genocide.
So they either voted for Trump or didn't vote for Kamala, and the Muslim vote made the difference in the swing states of Wi, MI, PA, if they had voted for Kamala there, Trump would have lost, but the Imam's endorsed Trump
Trump's pro-Israel Cabinet Picks Upset Muslims Who Voted for Him
'Trump won because of us,' said one of the founders of Muslims for Trump, 'and we're not happy with his Secretary of State pick and others'
https://www.haaretz.com/us-news/2024-11-17/ty-article/trumps-pro-israel-cabinet-picks-upset-muslims-who-voted-for-him/00000193-39b4-dcd3-a3b7-bdbfa2250000?utm_source=mailchimp&utm_medium=Content&utm_campaign=daily-brief&utm_content=ef36d27152
The ummah is going to eat their shit, unfortunately because of them, I and you will as well.
An interesting piece by The Atlantic regarding the use of Algorithms by Meta, X, Tic Tok etc. I think this issue is HUGE.
https://www.theatlantic.com/magazine/archive/2025/03/musk-tech-oligarch-european-election-influence/681453/?utm_campaign=atlantic-daily-newsletter&utm_content=20250127&utm_source=newsletter&utm_medium=email&utm_term=The+Atlantic+Daily
Yes, a real problem right now. Germany also has a constitutional provision that allows banning and dissolution of certain parties. The bar is high but the AfD may have reached this stage with Musk.
A summary of the language is below:
"Parties that, in view of their aims or the behaviour of their adherents, seek to undermine or abolish the free democratic basic order or to endanger the existence of the Federal Republic of Germany must be declared unconstitutional (cf. Art. 21(2) first sentence of the Basic Law). According to the Federal Constitutional Court’s case-law, the mere dissemination of anti-constitutional ideas as such is not sufficient. To be declared unconstitutional, a party must also take an actively belligerent, aggressive stance vis-à-vis the free democratic basic order and must seek to abolish it. In addition, specific indications must suggest that it is at least possible that the party will achieve its anti-constitutional aims. " https://www.bundesverfassungsgericht.de/EN/TheFederalConstitutionalCourt/TypesOfProceedings/ProceedingsForTheProhibitionOfAPoliticalParty/proceedingsfortheprohibitionofapoliticalparty_node.html
2008 was the largest transfer of wealth from the middle class to the upper class in history. They took people’s home. They are going to do it again.
Thank you for this detailed explanation of how economic collapse for regular folks is economic payolla for billionaires.
It’s obvious that our capitalistic system is not working except for a select few. They have a complete lock on the system so that change is nearly impossible. But it can be done. We need to move to a Scandinavian style system, a blend of capitalism and socialism. For this to happen we need strong leaders in the Democratic Party who are not embroiled in the system, who are lured into the status quo by rewards of stock market gains. We have such people but they are being denied leadership roles in favor of stodgy old men.
It is up to us as individuals to get the ball rolling. Boycotts on everything except the basics. Take to the streets to generate more excitement. Oust the old guys in the next primary.
As we used to say back in the 70s, Power to the People!
And I believe Jerry Rubin or maybe it was Abbie Hoffman that also said "Eat the Rich"!
I miss those days.
"Those were the days my friend, we thought they'd never end" but now look where we're at!!!
Yesterday a Trump supporter "friend" of mine called me in a panic. He said that the lenders were pulling back and he had lost several real estate deals. He said that he hadn't agreed with me in the past, but he did now. It is up in the air what happens when the lenders / banks start withholding loans because they see trouble ahead. Even the rich may find themselves in trouble as their assets begin to loose value. "Shock and awe" is something that isn't confined to a select number of people. I figure in the next 3-4 months we are going to see whether the "conservatives" who have the purse strings are really willing to put up with this madness or start making waves about how all of this is coming down. There is the 1%, but there is also a wider grouping below that who may not be happy with this new revisionist plan of Trump and his minions. Sounded good until it hit their pocketbooks.
Thanks Thom. I sent your "Dems Fatal Flaw" to my two Dem Senators yesterday - who knows if they'll ever see it. Couple this column on economic collapse with JVL's Triad yesterday on "Gangster's Paradise" and you have the plan, the plan to destroy America. Thanks for not letting our imaginations fail us.
I vaguely understood how plutocrats make money during the boom-and-bust cycle of America's economy. But to see how lavish the gains can be, far greater now, and affecting the whole world, is
stunning. And for a President to plan and spearhead such a crash is an unthinkable abomination.
Trump is brazen enough to offer this KILLING to his new crony capitalists. Impeach him now!
For the terminally abundant, economic disaster is not a concern. That's a worry exclusive to literally everyone else on Earth. Thom is as correct as correct can be when he shows that an economic collapse means two very different things to two very different groups. Our group - the 99% - live it through devastation, which it is. Their group - the 1%, where far too much is always far too little - enjoy it is a coup, which it is.
Our resources need to come from within - something they can't fleece us of.
Today's freeze on financial assistance could easily be part of such a scheme. (Besides the just plain mean destruction of what billionaires might disparage as "charity" and "handout" programs to those in need.) When people aren't getting their grants, aid money and even paychecks (some state and city programs are run through federal monies) there will soon be horrific ripples throughout the economy. While many of the recipients are not very wealthy, undoubtedly some of them voted for him. I wonder how they'll feel when their own checks bounce, the refrigerator is empty and the rent is due.
As # 45, Trump did absolutely nothing for local governments. In many red states, federal government grants are the only reason their economies survive.
https://usafacts.org/articles/which-states-rely-the-most-on-federal-aid/
This mornings headline read, White House pauses all federal grants. Sub headline, Trillions of dollars could be on hold according to OMB memo. I didn't want to believe Thom's theory that Trump and other billionaire's are trying to destroy the economy and thereby the stock market. But, if this pause lasts more than a few days they could very well achieve that goal. Throw in mass deportations and tariffs and the deal would be sealed. The present and future oligarchs are meeting at Trump National Doral, emoluments clause, bah so what. Might makes right.