Friday , October 23 2020
Home / S. Sumner: Money Illusion / Banana republic watch

Banana republic watch

Summary:
Yes, I know, I’m just being hysterical: President Donald Trump’s order to his secretary of state to declassify thousands of Hillary Clinton’s emails, along with his insistence that his attorney general issue indictments against Barack Obama and Joe Biden, takes his presidency into new territory — until now, occupied by leaders with names like Putin, Xi and Erdogan.Trump has long demanded — quite publicly, often on Twitter — that his most senior cabinet members use the power of their office to pursue political enemies. But his appeals this week, as he trailed badly in the polls and was desperate to turn the national conversation away from the coronavirus, were so blatant that one had to look to authoritarian nations to make comparisons.He took a step even Richard Nixon

Topics:
Scott Sumner considers the following as important:

This could be interesting, too:

Scott Sumner writes Once again, China to the rescue!

Scott Sumner writes Utah is not a banana republic

Tyler Cowen writes Wednesday assorted links

Scott Sumner writes The West’s embarrassing response to Covid

Yes, I know, I’m just being hysterical:

President Donald Trump’s order to his secretary of state to declassify thousands of Hillary Clinton’s emails, along with his insistence that his attorney general issue indictments against Barack Obama and Joe Biden, takes his presidency into new territory — until now, occupied by leaders with names like Putin, Xi and Erdogan.

Trump has long demanded — quite publicly, often on Twitter — that his most senior cabinet members use the power of their office to pursue political enemies. But his appeals this week, as he trailed badly in the polls and was desperate to turn the national conversation away from the coronavirus, were so blatant that one had to look to authoritarian nations to make comparisons.

He took a step even Richard Nixon avoided in his most desperate days: openly ordering direct immediate government action against specific opponents, timed to serve his reelection campaign.

BTW, the Democratic Party’s flirtation with court-packing is also banana republicanism. But the unique awfulness of Trump has overshadowed that scandal. (And yes, the GOP is partly to blame–they behaved disgracefully in holding up a nomination in 2016.)

PS. Go Jaime Harrison!

Off topic: I took the NYT language/location test, and this is where they predicted I’m from:

Banana republic watch

Correct answer is Madison. But then just one of the 25 questions could have produced this map. Can you guess which one?


Tags:

 
 
 
Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment".

Leave a Reply

Your email address will not be published. Required fields are marked *