AUSTIN – Throughout Donald Trump’s single term as president of the United States, his opponents in both the Democratic and Republican parties frequently portrayed him as a would-be fascist dictator. But with Trump ousted from the White House, this analogy has become untenable. The Italian leader Trump resembles most is not the fascist dictator Benito Mussolini but rather Silvio Berlusconi, the scandal-prone former prime minister.
Figures like Trump and Berlusconi – tycoons or media celebrities who ran for office as anti-establishment populist demagogues – are not uncommon in contemporary Western democracies. In Europe, the list includes elected leaders like Czech Prime Minister Andrej Babiš, one of the country’s wealthiest men; former Ukrainian President Petro Poroshenko, previously his country’s “Chocolate King”; and his successor, Volodymyr Zelensky, a comic actor who had previously played a Ukrainian president on television.
Although Trump is the first true demagogue to be elected to the American presidency, the entertainer or plutocrat who wins office by posing as a champion of the common people has been a staple of mayoral and gubernatorial races for generations. Media celebrity, in particular, has become an increasingly common basis for electoral success in America.
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There is ample reason to worry that major economies like the United States are heading for a recession, accompanied by cascading financial turmoil. Some of the worst elements of both the 1970s and the 2008 crash are now in play, with equity markets likely to move deeper into bear territory.
says six factors will determine how bad the next downturn will be for the real economy and equity markets.
AUSTIN – Throughout Donald Trump’s single term as president of the United States, his opponents in both the Democratic and Republican parties frequently portrayed him as a would-be fascist dictator. But with Trump ousted from the White House, this analogy has become untenable. The Italian leader Trump resembles most is not the fascist dictator Benito Mussolini but rather Silvio Berlusconi, the scandal-prone former prime minister.
Figures like Trump and Berlusconi – tycoons or media celebrities who ran for office as anti-establishment populist demagogues – are not uncommon in contemporary Western democracies. In Europe, the list includes elected leaders like Czech Prime Minister Andrej Babiš, one of the country’s wealthiest men; former Ukrainian President Petro Poroshenko, previously his country’s “Chocolate King”; and his successor, Volodymyr Zelensky, a comic actor who had previously played a Ukrainian president on television.
Although Trump is the first true demagogue to be elected to the American presidency, the entertainer or plutocrat who wins office by posing as a champion of the common people has been a staple of mayoral and gubernatorial races for generations. Media celebrity, in particular, has become an increasingly common basis for electoral success in America.
To continue reading, register now.
As a registered user, you can enjoy more PS content every month – for free.
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