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The United States Blues

Summary:
Add to Bookmarks Four months before a critical election, the United States finds itself facing multiple crises – a seemingly out-of-control pandemic, a deep economic recession, rampant inequality, and a popular reckoning with racism – with a polarizing and unpopular president at the helm. Can policymakers mount the bold response needed to return the US to a position of global leadership, or is America’s strategic decline now inevitable? In this Big Picture, New York University’s Nouriel Roubini views the ongoing protests in many American cities partly as a revolt by a growing “precariat” of alienated,

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Four months before a critical election, the United States finds itself facing multiple crises – a seemingly out-of-control pandemic, a deep economic recession, rampant inequality, and a popular reckoning with racism – with a polarizing and unpopular president at the helm. Can policymakers mount the bold response needed to return the US to a position of global leadership, or is America’s strategic decline now inevitable?

In this Big Picture, New York University’s Nouriel Roubini views the ongoing protests in many American cities partly as a revolt by a growing “precariat” of alienated, insecure workers against an entrenched plutocracy personified by President Donald Trump. More broadly, but no less sobering, Princeton University’s Harold James sees in current developments in America disturbing parallels with the final years of the Soviet Union – and, most immediately, a threat to the US dollar’s long-standing international dominance.

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