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[timelets]

Under Trump, we are moving toward an authoritarian kleptocracy. The latest episode with Jerome Powell shows that money is the last resort against Trump's attacks. That is, the Fed Chairman doesn't appeal to the law because in an authoritarian state the law is on the side of the ruler. Rather, he appeals to the need for the Fed's independence and its importance for the markets.

It would be fun to make a cartoon sketch in the spirit of the Three Little Pigs. The first pig built its house out of norms and Trump easily blew it away. The second pig built its house out of law and Trump easily blew it away. The third pig built its house out of gold and so far we see how Trump is huffing and puffing, but can't make much damage to it, at least internally in the US.

Comments

[timelets]

Оба эти случая хорошо известны и документированы. Он показали, что подчинение ФРС президенту вредит стране. Банановой ее делает пренебрежение историческим опытом и использование уголовного преследования против ФР в личных целях президента. Кроме того, банановость заключается в отсутствие каких-либо противовесов произволу администрации, несмотря на требование к разделению властей записанное в Конституции.