The economic consequences of the crazy king

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“With their heads.” This is the sentence that embodies the queen of hearts, and embodies the royal cabris in Alice’s adventures in the country of wondersSpeech pronunciation. It may be entertaining. Reality, however, is not. Throughout history, divorced rulers brought misery to their people and even their families. Their courts are foci of sycophance, favoritism and corruption. This is an arbitrary tyranny price.

At its best, the story of English -speaking people, including the United States, was the story of taming this arbitrary force. It was a long and arduous struggle of Magna Carta In 1215, James II was denied and the law declared law in 1689, through the civil war in the early seventeenth century and Charles I implementation in 1649. Those who condemned the pickled monarch for implementation He found him truly guilty in searching for “unlimited and normal power according to his will.”

Independence Declaration and Certification of the American constitution Other steps in this war were on tyranny. Likewise, the American Civil War, which proved the principle that no person should be allowed to carry absolute power over another person.

What is happening today in the United States is also historical and global, because it relates to whether the restrictions imposed on the exercise of arbitrary power will continue. No one has any knowledge of the disasters of the twentieth century can be unaware of the importance of this issue.

Replacing tyranny with the rule of law, the role of the courts in defining this law and the legislative body in making it serve the moral and practical goals. Only in such a country, people can feel safe against tyranny. The government that ignores restrictions is tyranny. As a commentator Andrew Sullivan He notes: “America revolves around the legal authority. Trump is about raw power. America has been based on a belief in the mind. Trump embraces his instinct alone.” We are witnessing The long -planned attack On the republic itself.

We have also obtained a lesson in economic costs, which were ignored by the wealthy and powerful Trump supporters. As noted Last June“Biden may be old. But Trump is crazy, unfortunately, he is not very crazy: he is seriously crazy. Trump’s instincts are also those in the dictator.” So, in fact they have proven that they are.

Trump’s commercial wars are a risk symptom. Amazingly, and “Tracking the definition” in FT Lists 25 important political ads By the United States and the countries, she was interested in less than three months. Seven major commercial policy ads are recorded between 2 and 11 April alone. This “mutual” tariff for all countries on April 2, and the subsequent reduction in these, after the market turmoil, included 10 percent for 90 days, in addition to the revenge cycle between the United States and China, which led to a heavy tariff on both sides.

We have also seen the decrease in stock prices, the rise in market fluctuations, even more disturbing, the decline in the dollar even while the return on the cabinet increased. It seemed as if the capital began to flee the United States itself. No wonder Trump has declined. While the “tariff” of the world was, he should have known that foreigners held $ 8.5tn from treasury bonds at the end 2024, Almost a quarter of the total public debt.

The way Trump runs his commercial war raises greater fears of protectionist economies themselves. Yes, definitions are bad policy tools: they impose a strong bias for the home market on the production of trading and high taxes-unnailed (by estimating the real exchange rate) and guidance (through the high input prices)-on exports.

However, more serious than this method is now used. Customs duties are taxes. In the 1970s, Congress granted the president with the authority to impose these taxes on will, in response to a “state of emergency”, no matter how fake. This is classic tyranny. Now, which is not surprising, Trump is taking advantage of this power to create chaos. Nobody can reasonably believe this will tell the United States. It will paralyze work, raise prices and slow the economy.

Avoiding such chaos was one of the benefits of ending the arbitrary force. By the end of the seventeenth century, the British state has become able to borrow large and second -term amounts in the long run. That was the fruit of confidence. It was one of the foundations for the prosperity of financing in the eighteenth and nineteenth centuries. This, in turn, was a strong incentive for the industrial revolution and the height of prosperity.

The unexpected tyrants generate waste, fear, and wide certainty. These are the enemies of prosperity. This constantly changing trade war shows and currently destroys the global trading system.

Now the United States is supposed to reach trade deals with more than 180 countries in about 84 days. This is ridiculous. Even if “deals” are reached, will they continue? One must doubt it. Can the work plan long -term investments amid the chaos you see? Work, after all, must think for years, not days. Thanks to the partisan bureaucracy, China in Xi Jinping now provides a greater ability to predict business than the United States. This is shocked. It is also a scandal. The people who supported Trump should know that, completely editor, was obligated to plant chaos.

Worship “A strong man“It is a perennial foolishness. We know that no one can be trusted through absolute power, at least among all the miracles they are looking for. The good thing that Trump’s commercial policies achieve is to show this again. They are haps from chaos. The challenge in the world is to survive.

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