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Trmpian Economics [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-04-25
Paul Krugman talks with Nathan Tankus about the $80 billion Trmpists took from NYC's bank account:
https://paulkrugman.substack.com/p/nathan-tankus-part-ii
"...if you start recognizing that the United States government is undermining the concept that a payment is a payment is a payment and that there's payment finality and that you have the idea that at any moment your bank account can be frozen, debited, anything else, and that you can't really trust having money in the bank, even if it's to deposit insured because the Trump administration is taking the prerogative that they can just take anything from you. If financial markets took this seriously, this would already be like a burgeoning financial crisis.”
As Alfred Jarry makes King Ubu tell us:
“Kill all the people, take all the money and go away.”
Trmpian economics seems to be a contract is not a contract and a payment is not a payment. A contract is what Trmp et alia says it is, even after an agreement is reached and the papers are signed. If Trmp et alia don’t like it, ex post facto, or changed their minds, they can unilaterally break it. If they’ve paid out funds on the basis of that or any other contract or agreement, they can reach into that bank account and take the money back. No ifs, ands, or buts.
Everything belongs to them, if they want it. No harm, no foul, no backsies.
This is not capitalism but Mafia tyranny. In particular, the bust-out:
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