I find it interesting the US has gone so long without trying centralized, state run economic policy. If you think about it, it aligns with a lot of populist movements around the world.
I think we had the boogieman of the Soviet Union to create an elite consensus on how to manage the market, and now that seems old hat. So we will now experiment and likely suffer the consequences.
It sucks Trump is singularly focused on the stock market. The market doesn’t really reflect the downside of a lack of Fed independence. Nor much of the downside of tariffs. Much of this economic policy stabilizes large companies, anligning them with the Govt, penalizing small/medium businesses. So of course the stock market will go up while the rest of the economy suffers. Billionaires have chosen to reign in hell rather than be fairly well off in heaven.
The founding premise of the US is avoiding consolidation of power. There are many downsides to that (largely concerning waste due to duplication of efforts and other inefficiencies), but that's why it's never taken hold in the US.
Hopefully we get a mild reminder of the severe downsides of centralized power and that's enough to get the country back on track.
I think we had the boogieman of the Soviet Union to create an elite consensus on how to manage the market, and now that seems old hat. So we will now experiment and likely suffer the consequences.
It sucks Trump is singularly focused on the stock market. The market doesn’t really reflect the downside of a lack of Fed independence. Nor much of the downside of tariffs. Much of this economic policy stabilizes large companies, anligning them with the Govt, penalizing small/medium businesses. So of course the stock market will go up while the rest of the economy suffers. Billionaires have chosen to reign in hell rather than be fairly well off in heaven.