Why crises favor the rich

Nov 5, 2025

In this episode, public school history teacher Gianni Paul joins Breht to trace the historical roots of our current crisis — stagnant wages, mass homelessness, collapsing infrastructure, rising fascism, Gilded Age inequality, and a beaten down working class — back to Reagan's counter-revolution against the New Deal and the forty-year neoliberal project that followed. Together, they explore how neoliberalism emerged out of the crises of the 1970s, Carter's role in laying the groundwork before Reagan, the destruction of unions and working-class power, the ideological weaponization of anti-communism, the bipartisan consolidation of neoliberalism under Clinton, Bush, Obama, Trump, and Biden, the ways Reagan and Trump represent two phases of the same class project, the collapse of the Soviet Union and the rise of capitalist triumphalism, the slow disintegration of America's middle class into debt and precarity, the explosion of homelessness and hopelessness, the erosion of U.S. imperial dominance alongside the emergence of a multipolar world, and why the U.S. repeatedly chooses reaction over social transformation — raising the question of whether genuine change can still emerge from within the imperial core or whether new possibilities are taking shape elsewhere. Understanding this history is key to understanding why everyday life in America feels increasingly unstable, and what futures remain possible beyond neoliberal decay.

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