Just what is Kamala’s position on seabed mining?
Rachel Maddow last night put the lie to oligarch nonsense about their support for Trump being a business decision. Um, no. Think Elon Musk’s decision to buy Twitter was a sound business decsision?
“In the history of modern economics America’s three-decade outperformance is remarkable,” declares The Economist. Why would “business” types hand it over to a felon whose entire economic plan is 19th-century tariffs?
Remember those “Nine out of ten doctors prefer” ads for personal care products back when color TV was young? Well, The Wall Street Journal finds that “65% of economists see Trump’s proposed policies putting more upward pressure on the federal deficit” and “68% said prices would rise faster under Trump than under Harris.”
No. Oligarchs want to be oligarchs. Their support of Trump is not based on economics, per se. The ruling class wants to rule. As a fringe benefit, writes Brian Klass about billionaires in politics, “Politics is the most straightforward way to get rich in autocracies. When the state controls the spoils, the way to get the spoils is to become part of the leadership of the state.?) They understand backing an autocrat as an investment in their own power and expanded wealth. Backing Trump is a twofer.
The visible hand
The American economy has left other rich countries in the dust (The Economist)
After a shaky start, America delivered a strong response to the global financial crisis of 2007-09, acting decisively to clean up bank balance-sheets, and making aggressive use of monetary policy to support growth. The government’s response to the covid slowdown was yet more extraordinary, with a suite of fiscal stimulus packages that left other countries in the dust. Indeed, officials overdid it in their pursuit of a recovery, contributing to the global rise in inflation. But it is impossible to explain America’s mighty economic engine without acknowledging the government’s willingness to step on the accelerator pedal when it has sputtered.
Please. Spare us the “you’ll like his policies” BS.