Comment by Krasnol
3 hours ago
The problem is that the outlier might mark a beginning.
Seeing what's possible in this position, I doubt future US presidents will hold back.
3 hours ago
The problem is that the outlier might mark a beginning.
Seeing what's possible in this position, I doubt future US presidents will hold back.
It doesn't matter I'd they hold back or not. The perception of political instability is enough.
If, as an investor, I'm asked to throw billions at a multi-year project, political risk is going to be on the PowerPoint.
You may think this current administration is an aberration, but it serves to prove that aberrations can happen. That the levers supposed to prevent this (congress, courts) are creaking. Sure a judge ruled for now, but this is a long way from finished.)
And that's enough to create doubt. Lots of doubt. The impact of this on long-term future infrastructure projects cannot be over-stated.
(Let's leave aside that this project was 6 years in the planning, during his first term, before construction start in 2022... which just makes the current behavior worse, not better.)
the aphorism that comes to mind with that prospect these days is: "populism is like cigarettes, it's not the first one that kills you, it's the last"