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1. Resigned
Mohamed A. El-Erian is a respected figure in economics. He is neither a partisan nor a Trump supporter. Yesterday he argued that Jerome Powell should resign from the Fed in order to save the Fed.
His suggestion isn’t crazy.
But it is a form of misunderstanding that is marbled throughout all of institutional liberalism. And it is dangerous.
Today we’re going to talk about about how institutional liberalism has a Zero-Day Exploit, a hack built into its source code that Donald Trump has discovered.
I call it the Surrender Trap.
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