Summary of When the Clock Broke by John Ganz ( Keynote reads )

By Keynote reads

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When the Clock Broke is a book by John Ganz that provides a vivid and insightful look at the late-century discontents in America. The book explores the rise of Trump's ascent, the rise of David Duke, the rise of Rush Limbaugh, and the conflicts between neoconservatives and the "paleo-con" right. It highlights the rise of conspiracy theories, the alienation of the "Middle American Radicals," and the rise of Bill Clinton as a vital center. The book is praised for its entertaining and moral core, making it a valuable read for those interested in the dark legacy of the Reagan era.

• Language: English
• Publisher: Keynote reads
• Release date: Jun 20, 2024
• ISBN: 9798227299413

Keynote reads

Biography: Keynote reads is a highly skilled and dedicated book summary writer with over a decade of experience in the field. Keynote reads has a passion for reading and a talent for distilling complex ideas into clear, concise, and engaging summaries. His work spans a wide range of genres, including self-help, business, psychology, and literature. Education: Bachelor of Arts in English Literature - University of Oxford Master of Arts in Communication - Stanford University Professional Experience: Freelance Book Summary Writer (2012 - Present) Collaborated with various authors and publishing houses to create high-quality summaries of their books. Summarized over 300 books, maintaining a consistent style that captures the essence of the original works. Provided summaries for websites, magazines, and educational platforms. Content Editor  Edited and revised summaries submitted by other writers to ensure accuracy and readability. Contributed to the development of the website's style guide for summaries. Skills: Exceptional ability to synthesize information. Strong understanding of various literary and non-fiction genres. Proficient in using digital tools for writing and editing. Excellent written and verbal communication skills. Notable Projects: Developed a series of educational book summaries for an online learning platform, enhancing students' comprehension and retention. Contact Information: Email: [e-mail] LinkedIn: linkedin.com/in/keynote-reads

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INTRODUCTION

THE END

This book explores the history of America during a time when it felt like America was losing out, losing its dominant place in the world, security, wealth, and sense of itself. The protagonists envisioned a new system based on domination and exclusion, a restricted sense of community, and a charismatic leader who would use his power to punish and persecute for the sake of restoring lost national greatness. They sought inspiration from earlier ideologies such as nationalism, populism, racism, antisemitism, and fascism.

The book also highlights a period of crisis that has not been fully understood, but it is a conjuncture where chronic troubles briefly took on acute expression but then appeared to go into remission or repose. At its start, America had won the Cold War, the Berlin Wall would soon fall, and the Soviet Union was retreating worldwide. Democracy and capitalism were the only viable political and economic systems remaining. President Ronald Reagan's farewell message in 1989 emphasized that democracy, the moral way of government, is also the practical way of government.

However, the book also notes that America's cities soon had 500 million square feet of vacant office space, the equivalent of two Manhattans, and over five hundred banks failing in a single year. Additionally, homeless people sheltering at the foot of office towers might be seen as encampments of homeless people, reflecting the city's unprecedented crime rates.

Reagan's farewell to America in the 1980s was met with concerns about a lack of patriotic sentiment in popular culture and the vulnerability of freedom. The system of production upon which American freedom rested was looking fragile, if not already fractured. The restructuring of the American economy during this time, known as Reaganomics, voodoo economics, trickledown economics, supply-side economics, financialization or neoliberalism, provided a glitzy veneer of great wealth but the underlying reality was less pretty. With the power of organized labor all but broken and tight money policy in place to whip inflation, wages stagnated, and income from rents, dividends, capital gains, and interest exploded. The average income for 80 percent of American families declined between 1980 and 1989, while the top fifth of Americans saw an increase of nearly 50 percent. The income of the top 1 percent grew by almost 75 percent over the decade. The median net worth of a high-income family grew by 82% between 1984 and 1989, while the wealth of the lowest-income group dropped by 16 percent. The middle class was being hollowed out, with the proportion of Americans making between $18,000 and $55,000 a year shrinking by 20 percent in the 1980s. The policy regime of the previous decade looked like open class war waged on behalf of the rich.

The 1980s economy was heavily reliant on debt, with consumer, corporate, and government debts exploding. Corporations struggled to escape their debts, banks and thrifts sank, and personal bankruptcies and home foreclosures reached an all-time record. The military spending and tax cuts of the Reagan administration had accumulated a $3 trillion national debt, and credit granted by the public to the political establishment seemed likely to be spent soon.

President George H. W. Bush took office as the vice president of the Gipper's revolution but proposed a revision, a period of national calming down and consolidation. He was one of the few genuine conservatives in the country, aiming for maintaining the status quo above all. His rhetoric and actions made this clear: his economic advisers were Tory moderates rather than free trade ideologues. He called for a kinder, gentler America and greater tolerance, but the call for kindness and gentleness rang hollow.

Bush was not an incompetent or feebleminded product of aristocratic inbreeding, but competent within small bounds and groups. He appeared to succeed in diplomacy and warfare, but could not shape the meaning of events convincingly. When Saddam Hussein invaded Kuwait in August 1990, the political stakes were clear to an administration that remembered the oil crisis of the 1970s. The war was a smashing success, with Saddam's army crushed, he retreated from Kuwait, and Bush's job approval soared to 87%.

The New World Order was a conspiracy theory that included the Illuminati, Freemasons, the New Age movement, and the Trilateral Commission in a secret plot to control all money and power in the world. The Gulf War's unclear message and message contributed to the rapid turn of the American people from jubilation to disillusionment. The recession in 1990 took hold, with economists struggling to pinpoint a single