If you ask a Trump supporter to name some of the president’s accomplishments, invariably one of the first responses you get is a booming stock market.
The thing is, a booming stock market is not a good economic indicator. Not in this day and age. Here’s why.
Many in the western press are oversimplifying the story about Venezuela, blaming its economic crisis more or less exclusively on the socialist policies of President Nicolas Maduro and his predecessor, the late Hugo Chavez. Government policy has contributed to the shape the crisis has taken, but there is a lot more going on than meets the eye. I want to try to tell a fuller story.
On June 8 (this Thursday), Britain has a general election. I care deeply about British politics–I’m doing my PhD at Cambridge. But more importantly, Theresa May’s government has managed the country’s economy and public services with stunning fecklessness, and I couldn’t live with myself if I didn’t do my part to point this out.
There’s a single payer plan advancing in the state of California, and many people are excited about it. And for good reason–a single payer system can potentially extend coverage while cutting costs. I’ve written about the virtues of single payer many times before, but there is a political danger in attempting to do single payer at the state level. Ironically and tragically, the very economic forces which make single payer such a good federal policy create powerful dangers for state systems.