Opinion

Bernd Debusmann

Obama and the American dream in reverse

Bernd Debusmann
Sep 24, 2010 13:40 UTC

“It’s like the American dream in reverse.” That’s how President Barack Obama, ten days after taking office last year, described the plight of Americans hit by the faltering economy. His catchy description fell short — the dream has turned into a nightmare for tens of millions.

So much so that an opinion poll this week showed that 43 percent of those surveyed thought that “the American Dream” is a thing of the past. It “once held true” but no longer does. Only half the country believes the dream “still exists,” according to the poll, commissioned by ABC News and Yahoo against a background of dismal statistics on growing poverty, inequality, unemployment, and Americans without health insurance.

Before turning to the gloomy numbers, a brief detour to the meaning of the phrase “the American Dream,” long a familiar part of the U.S. (and international) lexicon.  The survey defined it as “if you work hard, you get ahead.” That’s neat shorthand for the concept that the American social, economic and political system makes success possible for everyone.

More expansive definitions of the American Dream invariably feature home ownership, and there the dream went into reverse on a particularly large scale, with the subprime mortgage boom and subsequent housing bust. Last year alone, there were 2.8 million foreclosures — 7,700 a day — on homes whose owners could no longer afford their mortgages.

The statistic that best explains growing doubts over the achievability of the American Dream was released by the Census Bureau in mid-September. In 2009, the Bureau said, 3.8 million people joined the ranks of the poor by falling below the poverty line, defined by the government as an annual income of below $22,000 for a family of four.

Islamophobia and a German central banker

Bernd Debusmann
Sep 17, 2010 13:34 UTC

How do you reconcile the traditions of many Muslim immigrants with the freedoms and values of 21st century Western Europe?

It’s a question that has led to periodic outbursts of vigorous debate from France to Holland and Switzerland. In Germany, the discussion has been relatively subdued. Until now.

Why? A passage in a book considered so unsettling that its author, Thilo Sarrazin, was forced to resign from the board of Germany’s central bank this month, provides part of the answer.

The U.S. war in Iraq is over. Who won?

Bernd Debusmann
Sep 3, 2010 13:43 UTC

The end of America’s combat mission, after seven and a half costly years, has raised questions that will provide fodder for argument for a long time to come: Was it worth it? And who, if anyone, won?

It’s too early to answer the first question, according to U.S. Secretary of Defense Robert Gates, a man of sober judgment. “It really requires a historian’s perspective in terms of what happens here in the long run … How it all weighs in the balance over time remains to be seen.”

For a sizeable group of Middle East experts, the second question is easier to answer than the first. “So, who won the war in Iraq? Iran,” says the headline over an analysis by scholar Mohammed Bazzi for the Council on Foreign relations, a New York-based think-tank. His argument: “The U.S. ousted Tehran’s sworn enemy, Saddam Hussein, from power. Then Washington helped install a Shi’ite government for the first time in Iraq’s modern history.

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