This post was originally produced for Forbes.
Pulitzer Prize Winners Nicholas Kristof and Cheryl WuDunn have written a new book, Tightrope: Americans Reaching for Hope, to be released next month. The book will follow the model of the couple’s previous collaborations, Half the Sky and A Path Appears, painful analyses of big social problems that also celebrate the hope found in existing solutions.
Without the benefit of a review copy, I recorded a discussion of the book and some of his other writing with Kristof several months ago. I invite you to watch the interview in the player above. Kristof’s thoughtful manner of speaking reflects a mind practiced in editing his prose as he goes, sometimes causing him to pause mid-sentence only to finish the thought by starting or finishing a new sentence, leaving the last incomplete.
It’s a style that has garnered the New York Times columnist millions of social media followers to whom he has often appeared in self-produced videos like mine (the key difference being the size of our respective audiences). His millions of fans and followers feel an authentic connection to the self-described “farm boy” from Oregon, despite more than because of his Harvard and Oxford (as a Rhodes Scholar) education and 30+ years at the Times.
Kristof partners with WuDunn, his wife of three decades with whom he has three children, to write books. They won a Pulitzer for their coverage of the Tiananmen massacre in 1989 while they both worked at the Times. WuDunn now works in banking.
For Tightrope, which he describes as “deeply personal,” Kristof begins with his own beginning, returning to his rural hometown of Yamhill, Oregon. He focuses on the kids who were on his old school bus. “And about a quarter of those kids have passed away largely from what economists call a death of despair, drugs, alcohol, suicide and also reckless accidents.”
“Most of America has looked the other way as working families have collapsed into a miasma of lost jobs, drugs and shortening life expectancy,” he told me.
“One of the stories we tell is of some neighbors who lived not far from us,” he says beginning his narrative. “There’s a family of five kids. The oldest was in my grade. Really, I mean, everybody was very smart. And they had risen very, very quickly. I mean, the 20th century had been enormously good to them. The dad had a good labor union job. And then then everything kind of collapsed and the jobs went away. The kids all ended up dropping out of school and they self-medicated with that with alcohol, with other drugs.”
“And then then they became less employable, less marriageable. The family structure, which had been really strong in my community, just collapsed very, very quickly. The social fabric, it became undone,” he said, speaking of his hometown. “And so now of those five kids, four of the five are now dead. And the only one who survived survived because he spent 13 years in the Oregon State Penitentiary on drug offenses.”
“These are these are smart kids who could have contributed so much to the country, to a community, and instead they, you know…,” his voice trails off thinking of what might have been and finally notes, “we didn’t intervene.”
The fact that it is easier to help a three-year-old get on the successful path than to help a 30-year-old turn around, is a key lesson he takes from his research and observations about the Yamhill community.
Revealing his penchant for earthbound wisdom, he says, “Look, there is no silver bullet to address these kinds of problems. But there are there are silver buckshot.”
In the U.S., the government provides $30 billion in housing vouchers each year. Often, the recipients congregate in poor areas of the community, sometimes moving from one poor area to another, he notes. This aggregation tends to magnify the problem.
Economist Raj Chetty, has found that if a family uses the voucher to move to a community with higher opportunity, better schools and a stronger family structure, the kids are much more likely to graduate from high school and the girls are less likely to get pregnant as teenagers. They’ll also earn more money and pay more taxes as a result of a relatively small nudge to move to a better neighborhood.
“I wish that some of my neighbors could have had that kind of help back when they were at a tipping point,” he said.
“One in seven kids in America still doesn’t graduate from high school. And those kids are cooked. They’re just cooked,” Kristof says in frustration.
“It is it is really easy for successful people to ignore those who’ve been left behind,” he says, noting that our communities are segregated not only by race but by class and education as well. “We can tune out those who have been left behind.”
“I want to make it harder for that to happen and remind people that there is just a lot of desperate need out there,” he adds.
“We I tend to think of education as one of the best predictors of long-term outcomes for countries. The U.S., we pioneered mass education in this country. We pioneered high school—mass high schools. We pioneered mass tertiary education. And as recently as the 1960s, we were number one in high school attendance,” he says, preparing to make a point. “Now we rank number 61. And that doesn’t just hold that hold back those high school dropouts. It holds back our country.”
On Drug Abuse:
Kristof says that drug treatment is only a part of the solution to the crisis in our country. It also isn’t enough to stop drug companies from encouraging physicians to prescribe more opioids. “But it also has to be about giving people who are at the margins more of a sense that they have a future, that they don’t need to numb that pain.”
For Tightrope, Kristof says, they looked at autoworkers who had been laid off in both Detroit and directly across the Detroit River in Windsor, Ontario, Canada. Globalization and technology are likely to continue eroding manufacturing jobs in both countries.
“But those on the Canadian side were much more likely to get retraining so that they could move into new jobs. And so, an autoworker could become an ultrasound operator. And the upshot was that if you were a Canadian auto worker, you know, you were less likely to turn to drugs. Your kids were less likely to turn to drugs. And today, you know, your grandchild is less likely to be born dependent on opioids.”
In our interview, we talked about a variety of issues I haven’t tallied here, from Kristof’s criticisms of liberals to the lessons he’s learned about the ineffectiveness of the death penalty. Be sure to watch the full interview to the end where he shares his superpower.
By way of confession, I have long seen Kristof as a role model. After 1,200 episodes of my show, I invited him to be my last guest. I am grateful he had a book to promote, which likely gave him the nudge he needed to accept the invitation.
Kristof reflects on his life since leaving Yamhill, noting the aphorism, “talent is universal, but opportunity is not,” suggesting he had no more potential than the kids he rode the bus with to school. “I went to this small rural school and I just I just hit the jackpot.”
“I had parents who read to me who I was surrounded by books. I applied to Harvard. And there was somebody on the admissions committee who was from rural Oregon and loved the idea of a farm boy and our in our class. And so I was admitted. I, you know, four years later, I was lucky enough to win a Rhodes scholarship, which opened all kinds of doors, gave me more of an education, led me to The New York Times. There were editors at The Times who took chances on me. And so I ended up having this string of doors opened up magically for me as I approached,” he says seemingly a bit befuddled by his luck.
“I mean, absolutely, I think I worked incredibly hard. And I think I had, you know, some genuine talent to bring to the table. But there are so many others, you know, in my high school who had talent. And I know that if I had been in somewhat different circumstance, like some of these families, then instead of being in this interview, I would be struggling with my meth addiction or whatever else.”
This recognition of his good fortune, he says, motivates his work.
“Talent is universal, but opportunity is not.”
For social entrepreneurs and others working to change the world, Tightrope is required reading.
Ethereum Classic (ETC) Price Poised for a Surge to $100
- Ethereum Classic (ETC) looks poised for a surge
- Technical indicators show that ETC could go up to $105
- Also, one reason that could help the altcoin surge is its upcoming ECIP-1103 upgrade
Ethereum Classic price poised for a surge. The altcoin has been outperforming the market recently but can it bounce back over the $100 resistance level?
The crypto market has been experiencing a rough ride. Many altcoins have sunk to less than half their value in less than a month. However, Ethereum Classic managed to rebound faster than most of the market. In addition, the altcoin has managed to hold its ground against the bearish market.
In fact, looking at Ethereum Classic price charts, the asset looks poised for a surge.
At the time of writing, ETC is trading at $55.01, down 67% from its May 8 all-time high of $167.09. However, looking at the crypto’s Fibonacci levels, ETC could go up to ranging from $74 to $105. The price rise depends on whether ETC manages to breach the $60 resistance level. Looking at RSI, ETC is just above 40 and is thus in the safe zone.
On the other hand, ETC price could fall to $9 if the market turns on the crypto.
Possible reasons why ETC has been outperforming the market could be the crypto’s recently announced new upgrade scheduled for July 21. The upgrade will implement ECIP-1103 and include ETH’s Berlin Upgrade.
Also, perhaps investors deem the altcoin a good asset to diversify into and hedge against Bitcoin and ETH volatility. ETC has a limited coin supply of 210 million. In comparison, sister blockchain ETH has an unlimited supply. As such, ETC’s token value is likely to appreciate once the blockchain reaches its maximum token supply.
In addition, the underway ETH 2.0 upgrade will help further differentiate ETC from its more popular sister ETH. In this case, ETC could prove to be a good way for investors to diversify their portfolios.
Finally, ETC holds sentimental value for those who wish to see what ETH would look like if the platform followed its initial roadmap.
Shiba Inu Drops Hard Below Critical Support Level
- Shiba Inu’s price hit below its critical support level of $0.000007.
- Its price is now is going for new lows of $0.00000630.
- SHIB needs to reach above $0.000007 to change the momentum and go up.
Notwithstanding a recent drop in the crypto market, Shiba Inu (SHIB), the meme-based coin named as “Dogecoin killer” has not disappeared. However, there are still some struggles that SHIB has to face.
As of writing, SHIB’s price hit below its critical support level of $0.000007 and is headed for new lows of $0.00000630. Meanwhile, If Shiba Inu breaks through the $0.00000630 support level, it will go to the $0.00000440 support level.
Now, to acquire momentum and make it go up, SHIB needs to reach above $0.000007. Otherwise, if SHIB is able to break through this resistance, it will go on to the next level of resistance at $0.000008.
Numerous individuals think that the SHIB’s rise recently is merely because of the community. In any case, there are different conditions that help the crypto gain investor’s interest. Respectively, SHIB announced its listing in Binance last month.
Furthermore, Shiba Inu will establish its own exchange soon called ShibaSwap. With this, another decentralized exchange (DEX) like UniSwap or PancakeSwap will be available in the market. Of note, the platform has been operational for a while, but it is still undergoing some tests for security and transparency development.
On another note, many experts and analysts have shared their predictions for SHIB. Market experts even outlined a strategy for Shiba Inu to hit the $1. To reach $1, SHIB needs to increase around12,000,000%.
Consequently, the coin has increased by around 2,000,000 percent monthly since January. Moreover, according to Market Realist, if SHIB continues to expand at this rate, it might touch $1 by the end of 2021.
Lastly, based on Wallet Investor, Shiba Inu’s price is expected to hit $0.000030 by June 2021 and could rise to $0.000048 at the end of the year.
US Financial Giants Tread Carefully Into Crypto Trend
- A large number of financial players continue to move into the crypto space.
- Its volatility may be holding it back from reaching its potential value.
- The future of crypto seems uncertain as both community interest and risks stay high.
Even as the pressure around entering the crypto space has cooled down, a large number of big players continue to move in. Many US finance giants are treading forward, cautiously.
Jamie Dimon, Chief Executive at JPMorgan and Chase, said recently, “My own personal advice to people: Stay away from it.” He added, however, “That does not mean the clients don’t want it.” The biggest US bank in terms of assets, JPMorgan is currently assessing how it can help its clients transact in crypto.
Early 2021 saw the financial industry brimming with excitement and possibilities for cryptocurrency. Part of this was due to Bitcoin’s unprecedented jump in value from late 2020 to early 2021. Some of the most recent players attracted by crypto’s novelty are:
- Online trading firm Interactive Brokers, who promised that it will establish online trading of crypto on its platform by summer end. At this moment, it doesn’t offer crypto payments. Still, it gives its clients the option to invest in assets that include crypto or Bitcoin futures.
- ForUsAll, a platform managing retirement accounts for small businesses, has also stepped in. It announced on Monday its decision to work with Coinbase for clients to invest up to 5 percent of their balances in crypto.
- Morgan Stanley, Goldman Sachs, have both recently targeted crypto enthusiasts within their clients. The former stated that it would allow its richer clients to invest in Bitcoin funds, while the latter opened its doors to crypto trading with a newly assigned team.
- Brokerage firm Fidelity Investments also filed papers with US securities regulators for a Bitcoin exchange-traded fund (ETF). Previously, it created a digital assets division in 2018 to trade crypto for hedge funds.
Despite the steady, yet cautious increase in digital asset investors, concerns remain high. This has also to do with high volatility in the market, especially reflected in Bitcoin’s most recent bull run. BTC went from $63,000 in mid-April 2021 to half its value, $34,000 in June.
Ian Gendler from Value Line, a research firm, sheds light on the influx of investors saying, “Speculators and those suffering from FOMO (the ‘fear of missing out’) will surely continue to flock to cryptos in the hopes of achieving huge returns.”
He, however, directs clients to avoid crypto investments due to high risks and the lack of tangible assets. He also noted, Bitcoin and other digital money is not backed by governments.
Cryptocurrencies are only worth what the next investor is willing to pay.
It seems likely that crypto’s lack of a steady trend may be holding the currency back and blocking possible investments. Be that as it may, but investor interest in the digital asset is far from going down. We’ll just have to keep waiting to see what the future holds for cryptocurrency.
World Economic Forum Seeks to Offer Clear Policy Landscape For DeFi
The Colombian President’s Advisor to Peter Schiff: Stop Talking and Short Bitcoin
World Economic Forum Releases a DeFi Policy Toolkit for Fair and Executable Regulations
Pokemon GO: How to Get Alolan Slowpoke
1,100 people arrested by Chinese Police on crypto-related money laundering charges
Axie Infinity Price Prediction 2021-2025: AXS Token Can Hit $40 by 2025
Battlefield 2042 officially revealed
How Does Bitcoin Mining Work? Is It Profitable in 2021?
XRP lawsuit: Is the SEC ‘triply wrong’ about its latest filing?
MT5 Will Phase Out MT4, but It Will Take Time
Trouble Looms For Bitcoin As U.S Looks to Bar Holders From Converting Crypto To USD
XRP lawsuit: What’s the ‘existential threat’ Ripple is facing?
The UNICEF is investing in five crypto startups via Ethereum (ETH)
TrustDice Review: Features & Promotions
LegendsOfCrypto Performance Update
Revolut App Launches Dogecoin Trading To Its Platform
Third-Party Results of Credits’ Blockchain Speed Test
Skins of soccer superstars Marco Reus and Harry Kane to arrive in Fortnite this week, according to data miner
Leading Blockchain Game Splinterlands Completes Digital Land Sale of 150k Plots
Pokemon GO: A Very Slow Discovery Challenge Explained
News1 week ago
Norton Adds Ethereum Mining To Its Suite of Antivirus Software Services
Blockchain1 week ago
I Bought and HODLed Bitcoin Since 2012: Legendary Skateboarder Tony Hawk
Uncategorized1 week ago
Localbitcoins Adds Bitcoin Cash and Other Cryptocurrencies as Payment Methods
Blockchain1 week ago
GTA 6 may Pay Players With In-Game Cryptocurrency Rewards
Uncategorized1 week ago
Ethereum Co-Founder Has His Doubts Over Cardano’s “Scientific Method”
1 week ago
Overwatch League to host first live homestand with fans in 2021
Blockchain5 days ago
World Economic Forum Seeks to Offer Clear Policy Landscape For DeFi
Uncategorized1 week ago
Did Elon Musk Just Pump…CumRocket?