Beltway Panic, Wall Street Zen
THE most grounded fears about a Donald Trump presidency have always involved incompetence rather than malevolence, the perils of a catastrophically weak presidency rather than the prospect of a near-dictatorship.
.. A growing economy is compatible with creeping authoritarianism, of course, as Trump’s most alarmist critics are fond of pointing out. But is it compatible with outrageous presidential incompetence
.. The political turmoil of the late 1960s coincided with low unemployment rates and strong G.D.P. growth.