Saturday, 2 June 2018

crony capitalism

As the nihilism of the vapid economic policy and empty pandering of the Trump regime has teetered like a petulant toddler to alienate US allies and is eliciting belligerent responses in kind (the palaver that’s usually reserved—paternally or otherwise—for those suffering under a tyrant whose not to be understood as a metonym for the country or the people under his rule), it’s worth noting that while punishing tariffs are to be immediately imposed on Mexican, Canadian and EU steel and aluminium exports (in order to punish China for depressing steel prices, though the US imports little from them) there are significant concessions and accommodations being made for the world’s second biggest aluminium exporter, a company called Rusal under the control of a Russian oligarch for whom sanctions are pending.
Though unwilling to fully abdicate their duty, the Senate went against Trump’s wishes by imposing new sanctions on several influential business magnates and their enterprises in April 2018, the legislature betrayed a weakness by compromising and offering a transitional period of six months in order for the oligarch to divest himself of his stakes in the aluminium producer and reorganise his businesses, giving American clients more time to get in compliance with the terms of the embargo. Meanwhile, the Trump syndicate is still grifting at the expense of the tax-payers, refusing to recognise a conflict-of-interest for being willing to swap the Republic and world order for his personal gain and there’s been little room for mediation on matters that the US has rubbished unilaterally—like the Iran deal. This trade war will escalate into a full-fledged one if we are not careful and continue to allow both ends to play against the middle.