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naomi klein
Critics Ask If Trump and Musk Are 'Intentionally Crashing the Economy'
"If you think back at the last economic crashes... the rich were able to buy up assets on the cheap and emerged even wealthier and more powerful than before," noted one progressive commentator.
Mar 05, 2025
Are U.S. President Donald Trump, top adviser Elon Musk, and allied oligarchs deliberately trying to tank the economy in order to line their own gilded pockets?
More and more observers from both sides of the political aisle are asking the question this week as the U.S. president implemented steep tariffs on some of the country's biggest trade partners, threatened a global trade war, and is taking chainsaw to government spending and programs—policies that, while inflicting economic pain upon nearly everyone else, could dramatically boost their already stratospheric wealth.
Numerous observers have likened it to the " disaster capitalism" examined in Naomi Klein's seminal 2007 book, The Shock Doctrine: The Rise of Disaster Capitalism—politicians and plutocrats exploit the chaos of natural or human-caused crises to push through unpopular policies like privatization and deregulation that harm the masses while boosting the wealth and power of the ruling class.
Economic alarm bells were already ringing before Trump's 25% tariffs on most products from Canada and Mexico and an additional 10% on China—for a total of 20%—took effect on Tuesday, prompting retaliatory measures and threats of more to come.
Then, during his rambling joint address to Congress on Tuesday night, Trump threatened to impose reciprocal tariffs on every nation on Earth starting April 2 (because he "didn't want to be accused of April Fools' Day") if those countries did not lower barriers to trade with the United States.
@jamellebouie Replying to @C. Stetzer ♬ original sound - b-boy bouiebaisse
New York Times economic policy reporters Alan Rappeport and Ana Swanson called Trump's sweeping tariffs "one of the biggest gambles of his presidency," and a move "that risks undermining the United States economy."
But what if that's the whole point?
"I've been entertaining this theory a little bit more lately, because [Trump's] economic moves seem so stupid and terrible and counterproductive without thinking that he is intentionally trying to cause harm," progressive political commentator Krystal Ball—who also has a degree in economics and is a certified public accountant— said Tuesday on the social media site X.
Ball cited an X
post by Saikat Chakrabarti, a progressive Democrat running for Congresswoman Nancy Pelosi's (D-Calif.) House seat who worked on Wall Street for six years and helped found the online payment processing company Stripe, in which he accused Trump of "manufacturing a recession."
"But it makes sense when you realize his goal is to create something like Russia where the economy is run by a few oligarchs loyal to him," Chakrabarti added. "Creating that state is hard in a large, dynamic, powerful economy with too many actors who can oppose him. So he's accelerating concentrating money and power into the hands of his loyalists while he crashes the rest out."
Responding to this, Ball asserted that "at this point, until proven otherwise, the primary actor in the government and the economy is actually Elon, so I think it makes sense to think of Elon's incentives here and what he may actually want to accomplish."
"If you think back at the last economic crashes—both in Covid and in the 2008 financial crash—while initially everyone suffered, including the rich, out of both, the rich were able to buy up assets on the cheap and emerged even wealthier and more powerful than before," she noted.
"So in 2008, not only did they get their own custom bailout, but they were able to buy housing stock at absurdly low prices," Ball recalled. "The rich got richer than ever, inequality skyrocketed, and the big banks got bigger than ever."
"Same deal with the Covid-era recession," she continued. "So, while again, everyone suffered initially, there was a huge bailout package which, yes, did benefit ordinary people, but if you look at who came out really on top... you could see people like Elon Musk, people like Jeff Bezos, people like Mark Zuckerberg getting far wealthier. Their net worths, which were already very high, skyrocketed beyond anyone's wildest dreams."
Indeed, as Common Dreamsreported, 700 billionaires got $1.7 trillion richer during two years of pandemic. Between March 2020 and April 2022, Musk got 10 times richer, while Zuckerberg's net worth more than tripled and Bezos' grew by nearly $80 billion, according to Forbes.
"Here's the other piece that's worth thinking about as well," Ball added. "Crash and crisis leads to governments and authoritarian leaders claiming more power for themselves. They can use the crisis and the emergency as a justification for taking on extraordinary powers and for taking extraordinary measures... measures that can be custom fit to primarily benefit oligarchs like Elon Musk."
"So I don't know guys, while we're running around here going... 'can't they understand how this is going to be devastating for the economy,' maybe they do understand," she concluded, "and maybe that's kind of the point."
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Nearly 400 Rabbis, Jewish Leaders Say 'No' to Trump Push for Ethnic Cleansing of Gaza
"It is vitally important that we in the American Jewish community add our voices to all those refusing to entertain this insidious plan," one rabbi said of Trump's proposal.
Feb 13, 2025
Over 350 rabbis and dozens of Jewish public figures on Thursday placed a full-page advertisement in The New York Times protesting President Donald Trump's proposal to force all Palestinians out of the Gaza Strip and take over the coastal enclave recently decimated by U.S.-armed Israeli forces.
"Trump has called for the removal of all Palestinians from Gaza," the ad states. "Jewish people say NO to ethnic cleansing!"
The ad then lists the hundreds of people who signed on, including V (formerly Eve Ensler), Peter Beinart, Judith Butler, Molly Crabapple, Ben Cohen, Ilana Glazer, Tavi Gevinson, Nan Goldin, Naomi Klein, and Joaquin, Rain, and Summer Phoenix.
"Donald Trump—like Pharaoh in the Bible—seems to believe he is God with authority to rule, own, and dominate our country and the world," said Rabbi Yosef Berman of New Synagogue Project in Washington, D.C., a signatory to the Times ad.
"Jewish teaching is clear: Trump is not God and cannot take away Palestinians inherent dignity or steal their land for a real estate deal," Berman continued. "Trump's desire to ethnically cleanse Palestinians from Gaza is morally abhorrent. Jewish leaders reject Trump's attempts to wring profit from displacement and suffering and must act to stop this heinous crime."
Glazer, a comedian and actor, similarly stressed that "we, Jews, and all of us who care about basic human rights, must speak up and stand up to ensure Palestinians remain on their land, so they can rebuild their homes and lives in Gaza after the genocidal destruction they have endured. All of our safety is intertwined."
Today's NY Times. We, too, #SayNoToEthnicCleansing! So proud of our ED, R' @mhughesrob.bsky.social (+ board member Rabbi Andrea London), among the hundreds of Jewish clergy, professionals, lay leaders who signed on. Add your support at www.saynotoethniccleansing.org - click "sign on" in URH corner.
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— Partners for Progressive Israel (@partners4israel.bsky.social) February 13, 2025 at 9:59 AM
Israel faces a genocide case at the International Court of Justice for its 15-month military response to the Hamas-led October 7, 2023 attack. The Israeli assault killed more than 61,000 Palestinians in Gaza, according to estimates by local officials. A fragile cease-fire took effect last month.
After Hamas threatened to suspend the release of additional hostages over Israeli violations of the deal—which prompted Israel to threaten more violence, seemingly backed by Trump—the group said Thursday it would free three captives this weekend.
The ad in the Times on Thursday is just part of the growing opposition to Trump's proposal to kick Palestinians out of Gaza and turn the territory into what he claimed could be the "Riviera of the Middle East." Polling published Wednesday by Data for Progress shows that a majority of Americans are against the United States seizing control of Gaza, and nearly 7 in 10 oppose sending U.S. troops for the takeover.
A coalition of over 100 groups led by A New Policy—founded by Biden administration officials who resigned in protest—and the Quaker organization Friends Committee on National Legislation said Monday that they "decry and oppose any effort or initiative, and any calls for, the forcible displacement of Palestinians from Gaza, and support the joint statement of Egypt, Jordan, Saudi Arabia, the United Arab Emirates, Qatar, the Palestinian Authority, and the Arab League that similarly rejected any such steps."
The Guardianreported Thursday that Cody Edgerly, director of the In Our Name Campaign and one of the organizers of the Times ad, pointed to Trump's relationship with Israeli Prime Minister Benjamin Netanyahu, saying that it came at "a critical time as political redlines that were once thought immovable are rapidly shifting as the Trump-Netanyahu alliance takes hold again."
It has been "heartening to witness such a rapid outpouring of support from across the denominational and political spectrum," added Edgerly. "Our message to Palestinians is that you are not alone, our attention has not wavered, and we are committed to fighting with every breath we have to stop ethnic cleansing in Gaza."
Every day, more and more Jewish leaders break from decades of silence to reject ethnic cleansing. Thank you to these 350 rabbis using your voices in this moment to oppose Trump’s plans in Gaza and #SayNoToEthnicCleansing. #GazaIsNotForSale
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— Jews For Racial & Economic Justice (@jfrejnyc.bsky.social) February 13, 2025 at 8:13 AM
Beinart, editor-at-large of Jewish Currents and author of Being Jewish After the Destruction of Gaza: A Reckoning, said in a statement that "as someone who loves the American Jewish community, and lives my life in the American Jewish community, and could not imagine another way of living. It is utterly horrifying to see the degree to which people who enjoy great legitimacy and respect in our community are willing to support something that would be considered one of the greatest crimes of the 21st century."
Another signatory to the ad, Rabbi Toba Spitzer of Congregation Dorshei Tzedek in Newton, Massachusetts, said that "it is vitally important that we in the American Jewish community add our voices to all those refusing to entertain this insidious plan."
Nazi leader Adolf Hitler's "dream of making Germany 'Judenrein,' 'cleansed of Jews,' led to the slaughter of our people," Spitzer added. "We know as well as anyone the violence that these kinds of fantasies can lead to. It is time to make the cease-fire permanent, bring all of the hostages home, and join in efforts to rebuild Gaza for the sake of and with the people who live there."
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'Only One Path': Naomi Klein Says French Must Rally Around Left Coalition to Avert Fascism
"History tells us that fascism wins when anti-fascist forces refuse to come together to defeat it, with the center fearing a strong left committed to redistribution more than the cruelties of the extreme right."
Jul 03, 2024
Renowned Canadian author, activist, and filmmaker Noami Klein on Wednesday implored French President Emmanuel Macron to "get out of the way" while urging voters in France to rally behind the left-of-center New Popular Front coalition that analysts say represents the last hope to stop Marine Le Pen's fascist National Rally from taking power.
"There is only one path for French voters to stop the extreme racist right, whose rise has been aided and abetted at every stage by corporatist centrists led by Macron," Klein said on social media. "That path is to support the New Popular Front, running a close second in the polls."
Le Pen's viciously xenophobic National Rally (RN) triumphed in the first round of last week's French elections, winning 33.2% of the vote. New Popular Front (NFP)—an alliance of center-left parties formed last month to thwart a fascist takeover after Macron called snap elections—came in second, with 28%.
Macron's centrist Ensemble coalition finished third with 22.4% of the vote. Critics accused the embattled president of grossly miscalculating support for the far-right.
Leaders of Macron's coalition and the NFP have been scrambling to stymie an RN victory in Sunday's final runoff round, saying they would withdraw candidates from races in districts where other RN opponents have better chances of winning. However, some centrists are more comfortable with far-right rule than they are with progressive left policies, and that worries Klein.
"History tells us that fascism wins when anti-fascist forces refuse to come together to defeat it, with the center fearing a strong left committed to redistribution more than the cruelties of the extreme right," she said. "The NPF has shown that it understands this terrible lesson of European history. It deserves the support of French voters."
"Macron, who created this crisis with years of uninterrupted arrogance, needs to get out of the way," she added.
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