Will the second Trump administration come undone by an economic policy based on what the British military historian Lawrence Freedman, describing Vladimir Putin‘s rationale for invading Ukraine, calls “tendentious history”?
This week, it started to look like the answer might be yes.
In retrospect, it’s clear how the Biden administration’s economic policy stimulated inflation, which, together with its open borders policy, defeated Biden and, after his withdrawal, his designated successor Kamala Harris. Biden took office when large parts of the American economy were demobilized by Covid restrictions, while other sectors and the government continued generating income for consumers who, in Covid days, had no convenient way to spend it all.
To that unique situation, Biden responded in line with traditional Democrats’ “tendentious history.” For them, it’s always…
