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Trump as Uber

Sunday, 19 February, 2017

The Irish economist, broadcaster and author David McWilliams has made a handsome living by swimming against some of the more popular tides of the past decade and articulating his contrary positions eloquently and entertainingly. His insights on the Crash of 2008, the Brexit vote and the rise of Donald Trump have shown that his radar is finely tuned and have given him an aura of the oracle. That’s why his most recent article, Trump aims to do to the Washington insiders what Uber did to taxi drivers, is so valuable. Snippet:

“From now on, the relationship he intends to have with the American people (at least his American people) will not be mediated by the media. It will not be conditional on getting the ‘thumbs up or thumbs down’ from the commentariat and it will not be determined by experts. It will be as one to one.

By deploying Twitter, he has cut out the media. This is radical stuff and a total departure from decades, possibly centuries, of form.”

After he’s done with the media-establishment complex, what will President Trump disrupt next? According to David McWilliams, it could be the Fed and, if that were the case, “we are in for a big showdown at the very heart of the American economic system.” The current row with media would be a mere squib in comparison because “the near 30-year boom in American asset prices has been driven on the understanding that the Fed always wins.” Except that in a battle with Trump, the tribune of the precariat, the bankers will will not be able to call upon the commentariat for help.


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