The Coffee Klatch with Robert Reich

Has it been six months already ? I hadn’t intended to write every day but with so much going on in the world, I had no choice. One of my hopes when I began this newsletter six months ago was that you’d find sustenance here, particularly during these difficult times. The past six months have been grueling. I’ve felt the same anxieties many of you have felt, spilling over into some sleepless nights....

Here’s the paradox: The higher you rise in any hierarchy, your decisions are likely to have larger and larger consequences. Yet the higher you rise, the harder it is to get accurate feedback about your decisions. I’ve worked with several presidents. All have made big blunders. I’ve also known and written about CEOs of big corporations who have made terrible mistakes. In every case, they had flawed...

This morning I had coffee with my colleague Heather Lofthouse, who runs Inequality Media. We talked about generational change (boomers; millennials, and today’s children), and the idea of progress. Feel free to pull up a chair. I’ve enjoyed experimenting with this Substack newsletter — including sending you my written posts, drawings, and audio recordings, and exchanging comments with you. Would y...

Okay, I’m going to go out on a limb today and suggest something that would have seemed utter nonsense as late as a month ago: I’m seeing the stirrings in Washington of a new era of … I’m not sure what to call it. “Unity” is way too strong. “Bipartisanship” is premature. “ De -partisanship” is too clunky. But something new seems to be happening, and Vladimir Putin is responsible. Don’t get me wrong...

Welcome to Wednesday, friends. Biden’s advisers are saying that the crisis in Ukraine presents a chance for a reset — Biden’s best opportunity to restore his standing before the November midterms. But what’s the message for the reset? Despite falling coronavirus positivity rates, a bipartisan infrastructure package, and rising employment numbers — and even foreign policy leadership — Biden’s appro...

Hello friends, and welcome to Tuesday. This morning I filled my car with gas costing over five dollars a gallon. My car is a Mini Cooper that I bought years ago, partly because it wasn’t a gas guzzler. Now it’s guzzling dollars. But when I consider what’s happening in Ukraine, I say what the hell. It’s a small sacrifice. Yet guess who’s making no sacrifice at all — in fact, who’s reaping a giant w...

It’s like watching a three-hundred-pound bully beat up a kid half his size, for no reason — bloodying the poor kid, pulverizing him. Yet you don’t dare try to stop the mayhem because the bully has a gun that he’ll use on you if you intervene. You look for police, but there are none. You round up your friends, who join you in shouting at the bully. But he pays no attention. They threaten that if he...

I used to believe several things about the twenty-first century that Putin’s invasion of Ukraine and Donald Trump’s election in 2016 have shown me are false. I assumed: Nationalism is disappearing . I expected globalization would blur borders, create economic interdependence among nations and regions, and extend a modern consumer and artistic culture worldwide. I was wrong. Both Putin and Trump ha...

Among the most heartrending casualties in Ukraine are the children. So far, a million of them have fled the nation. Many are on their own, without parents or relatives to protect them. The 6 million who remain in Ukraine are in grave danger of being maimed or killed. Yesterday Ukraine accused Russia of bombing a children’s hospital. Of all the victims of war, children are the most innocent. If the...

I’m becoming increasingly worried that a growing segment of the American public is pushing for a war with Russia. Needless to say, that would be suicidal. This morning I saw an open open letter to the Biden administration signed by a group of 27 foreign policy heavyweights, calling for a limited no-fly zone over Ukraine — “starting with protection for humanitarian corridors that were agreed upon i...

Nothing good comes from war except, on occasion, the prevention of something even worse. As pressure increases on the Biden Administration to take more aggressive action against Putin, the question is how to minimize the collateral damage to Americans and use the crisis to move toward a more humane future. Here are five possible ways. 1. Help Americans endure higher fuel prices. The best way to st...

We’re sanctioning Russian oligarchs up the wazoo, hoping it’s a way to get Putin to stop his deadly attack on Ukraine. But for this tactic to work (1) the U.S. and our allies must be able to locate and tie up Russian oligarchic wealth, and (2) Russian oligarchs must have enough power to stop Putin. Let’s take them one at a time: Can we locate and tie up the wealth of Russian oligarchs? Anecdotally...

The waitperson where I had breakfast this morning broke down in tears over Ukraine. “I just don’t know what to do,” she said. She’s not alone. I feel the same way. You probably do, too. That one tyrant can cause this much human suffering defies whatever progress we assumed civilization had made since Hitler’s rise almost a century ago. That Putin can wreak such havoc on innocent people, seemingly...

If Europe and the United States do what must be done next to contain Putin’s despicable invasion – blocking Russian exports of gas and oil – energy prices will soar. That means consumers will have less money to spend on everything else. This could well push the U.S. economy back into recession. Which makes all the more bizarre Federal Reserve Chairman Jerome Powell’s statement yesterday to the Hou...

When I was in elementary school in the 1950s, I was periodically required to “duck and cover” by huddling under my desk in case the Soviet Union dropped an atomic bomb on my town. If I didn’t survive, I was also issued a dog tag with my name and address to help my parents identify my body. (I remember thinking that if the bomb dropped my parents wouldn’t be around to identify me anyway.) The whole...

In a few minutes, Joe Biden will give his first State of the Union address. It’s his best opportunity between now and November’s midterm elections to shape the narrative — describing the key choices ahead and explaining where he’s leading America. But there’s far more at stake than mere politics. Biden needs to frame not only what he’s accomplished and wants to accomplish but also what America sta...

The world is currently and frighteningly locked in a battle to the death between democracy and authoritarianism. Yesterday, Vladimir Putin issued a new threat to the West — telling his defense minister and his top military commander to place Russia’s nuclear forces on alert. It is a new cold war. The biggest difference between the old cold war and the new one is that authoritarian neo-fascism is n...

In the midst of Putin’s attack on Ukraine, it’s hard to keep our minds on domestic priorities — such as protecting voting rights, delivering economic security, and fixing our woefully expensive and unfair healthcare system. Yet maybe this is exactly the time to focus on these domestic goals. Doing what’s right for our people strengthens our moral authority to defend democracy and human rights abro...

We must do what we can to contain Vladimir Putin’s aggression in Ukraine. But we also need to be clear-eyed about it, and face the costs. As I’ve said before, economics can’t be separated from politics, and neither can be separated from history. Here are eight sobering realities: 1. Will the economic sanctions now being put into effect stop Putin from seeking to take over all of Ukraine? No. They...

The stock market is gyrating wildly in light of Putin’s aggression in Ukraine, but Wall Street traders are doing just fine. Bad news is good news for traders who make money off volatility. After all, in the year of Delta and Omicron, climate chaos, Trump Republican attacks on democracy, bitter divisiveness, a calamitous exit from Afghanistan, and accelerating inflation, the Street’s biggest banks...

Happy Presidents Day. It’s a good day to contemplate whether Joe Biden has a prayer of keeping a Democratic House and Senate next year. Call me a hopeless optimist, but I think he does. Yes, I know: Republicans are suppressing votes, Democrats are hopeless at messaging, Biden’s poll numbers are in the basement. But let me give you ten reasons why I think there’s a decent chance Democrats can maint...

Hello again, friends. Thank you for joining me for the second week of my Wealth and Poverty class. In today’s class, we begin to explore why such inequalities have soared since the late 1970s and early 1980s. The questions we’ll focus on today are: How did the market for financial capital contribute to inequalities of income and wealth? Did the accepted purpose of the American corporation change o...

For many years, my right ankle has been losing cartilage that keeps my ankle bones from scraping up against each other. The result: increasing inflammation and pain. An orthopedic surgeon suggested replacing the ankle with an artificial one, but the procedure is costly, takes months to heal, and requires lots of physical therapy. So I’ve taken a different route. I cut way back on sugar, began an e...

I got my start in American politics about 50 years ago. America was in many ways a different country then, but my political views weren’t all that different than they are now. I was against the Vietnam War and the military-industrial complex, pro civil and voting rights, and against the growing power of big corporations. That put me just left of the center. Today I’m much further left of center th...

I mentioned yesterday that I’ve been inspired by the young Starbucks baristas who are leading the charge to unionize the company. The number of unionizing stores has risen to seventy-two since the fall. The weekly spate of new Starbucks election filings represents a breakthrough for labor. Starbucks executives are counterattacking. Last week, they fired seven Memphis baristas who had led the organ...