The Five Stages of Bank Failure Grief

2023-05-15

In the summer of 2020, the Smithsonian Institution created a chart meant to condemn what it calls “whiteness,” and it listed a number of characteristics it claimed were essential to “white culture.” Among the so-called characteristics it described in pejorative terms was delaying gratification, or saving for the future, what Austrian economists would call low time preference.
The chart, which was withdrawn after widespread protest, sought to identify the characteristics needed to build not only an economy but civilization itself with a racist culture. Thus, the kind of lifestyle and values that might culminate in someone having high credit scores and saving up for a significant down payment for a house were something not to be emulated or praised, but rather to be called out and declared

2023-05-11

Being perceived as anti–working class is a cardinal sin in American politics. Working-class people are seen as the unappreciated engine of American growth. Hillary Clinton discovered this lesson when she was criticized for calling Donald Trump supporters a “basket of deplorables.” But interestingly, expressing contempt for the upper class is quite tolerable.
Rich people are frequently ridiculed by comedians and depicted as snobs in popular culture. Shows like SpongeBob SquarePants and The Simpsons present affluent characters in an unflattering light. Such characters are seldom portrayed as virtuous entrepreneurs who are rewarded for delivering value. Usually, viewers are led to think that the rich are the source of all social ills.
Typically, negative depictions of working class or poor