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Move over, Wall Street – here comes Texas

National Columnists

The New York Stock Exchange opened its doors over 230 years ago. It has been one of the iconic symbols of America's economic might for more than two centuries. But for how much longer? Now the challenge for supremacy isn't coming from London or Tokyo or Hong Kong or Beijing. It's coming from Texas. The Wall Street Journal reported in recent days that the Texas Stock Exchange is now officially open for business, and trading is expected to start soon. Everything is big in Texas, as the saying goes, so New Yorkers should take this rival stock exchange seriously. In some ...

Iran war could shape American policy for decades

National Columnists

The war with Iran that never really ended is back on. Like everybody else, including the Trump administration and the Iranian regime, I have no idea how it will end. But it eventually will, and how it will be remembered will matter enormously. Politics is about many things, but whether you call it "spin," "framing" or "narrative competition," storytelling is never far from the heart of it. As the philosopher Richard Rorty observed, "Competition for political leadership is in part a competition between differing stories about a nation's self-identity, and between differing symbols of its ...

In defense of data centers

National Columnists

New York just became the first state in the country to sign a moratorium on data centers. There are two paths forward on this issue. One path builds the infrastructure that runs the next 50 years of the American economy. The other bans the future, then acts surprised when the jobs show ...

Decision needs to be made on Social Security

National Columnists

Americans will soon choose a set of senators who will take office in January 2027 and serve through early 2033. In the final months of that term, Social Security's retirement trust fund is expected to run dry and trigger benefits cuts of 22% – not just for the wealthy, not just for new retirees, but for everyone up to and including widows living on survivors' checks. Somehow, this has yet to sink into the national consciousness. The precise timing is a projection. The cuts are not. They're activated automatically following the law: Once the trust fund is empty, Social ...

Celebrate those who do right thing every day

National Columnists

America spends an extraordinary amount of time debating the top 1% – the billionaires, corporate CEOs and hedge fund managers – and the widening gap between the rich and everyone else. It is an important conversation in a nation that prizes both opportunity and free ...

Three reasons not to visit Europe

National Columnists

For some reason, many Americans seem convinced they have to tour Europe this summer – despite the heat, oppressive crowds and high prices all descending on the continent. And if anyone needs a fourth reason, it's to recognize the growing resentment among many Europeans as the tourist ...