American populism in the Trump era, though promising great gains for working people, will in fact benefit only those who are already rich. That's quite a twist on anything Argentina's Juan Perón could have imagined pulling off, but, if left unchecked, the result, in terms of economic hardship and national decline, will be the same.
WASHINGTON, DC – Name the country. Its leader rails against foreigners, erects various import barriers, and pushes for low interest rates and lots of cheap credit for favored sectors. Government debt is already high, but the would-be strongman in power decides to pile on even more by increasing the budget deficit, arguing that this will boost prosperity to previously unattainable levels. While the government claims to represent the common people, state contracts are awarded to friends of friends.
WASHINGTON, DC – Name the country. Its leader rails against foreigners, erects various import barriers, and pushes for low interest rates and lots of cheap credit for favored sectors. Government debt is already high, but the would-be strongman in power decides to pile on even more by increasing the budget deficit, arguing that this will boost prosperity to previously unattainable levels. While the government claims to represent the common people, state contracts are awarded to friends of friends.