The Trump Era of Crony Capitalism Has Officially Started

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I would like to bring your attention once again to the two stock charts below:

Last week, Trump took a baby step into the world of crony capitalism by bribing/threatening United Technologies to keep a Carrier plant in Indiana so that Trump would look good. Today, he took a big ol’ dive into the crony capitalism pool, tanking one company’s stock because they had displeased him, and boosting two others because an investor had agreed to say nice things about him.

Now, in both cases the effects were temporary. Still, is this going to be a regular thing? Are American equity markets now in thrall to the whims of Donald Trump? Do companies need to be fearful of what the president of the United States might do to them if he happens to take a dislike to something they do?

And while I know how annoying this question can be, can you even imagine how Republicans would react if Barack Obama pulled this kind of stunt? Fox News would practically explode and Jason Chaffetz would start gearing up for a year or two of hearings. But since it’s Trump doing it, there’s nothing but radio silence. Apparently government interference in the free market isn’t quite so terrible after all.

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Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

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Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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