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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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

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