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Brooks and Capehart on Trump’s tariffs and reaction from the markets

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Via: Thomas • one week ago • 1 comments

By: PBS Newshour

Brooks and Capehart on Trump’s tariffs and reaction from the markets

And yes, he saw the markets tanking and blinked — but blinked, I think, primarily because of the bond markets. And they — you had a segment earlier where you talked all about this — but I think people need to understand and appreciate that while Donald Trump has been able to defy political gravity, this week he learned that he cannot defy economic gravity. And when the bond markets — when folks who usually go to the bond market when the stock market is going bananas — and they decide to sell...

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1 seeder Thomas one week ago

Brooks:

I took a lot of — benefited a lot from the piece Jonathan Rauch wrote in The Atlantic a couple, maybe a month ago or a couple of weeks ago, saying there are certain systems. People say Donald Trump is verging on authoritarianism, but the real thing he's verging on is patrimonialism.
And patrimonialism — authoritarianism is based on institutions and a set of laws and — but patrimonialism is the attempt to turn the government into a family business. And it's sort of a pre-modern form of government. If you go back before democracy, before the Treaty of Westphalia and all that kind of stuff, it was — it was — it was run by families. And the family enriched itself, and they took after anybody who threatened the family.
Um, it's a little like mafioso. It's like you're making an offer you can't refuse.

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