Terrified Trump Flees Tariffs War After CEOs’ ‘Empty Shelves’ Warning
www.thedailybeast.com
The president sounded much more conciliatory after he was told about the chaos his plans could bring.

Summary

Trump had to reverse his aggressive tariff rhetoric after CEOs from Walmart, Target, and Home Depot warned of empty shelves and higher prices due to supply chain disruptions.

Investors reacted negatively to his threats against Fed Chair Jerome Powell, prompting a market sell-off.

Trump backtracked, expressing optimism on a China trade deal and now denying plans to fire Powell.

Global markets remain volatile, and the IMF cited Trump’s trade war as a “major negative shock” to global growth.

    • explodicle@sh.itjust.worksEnglish
      21·
      5 hours ago

      In Marxist philosophy, the dictatorship of the proletariat is a condition in which the proletariat, or the working class, holds control over state power. The dictatorship of the proletariat is the transitional phase from a capitalist to a communist economy, whereby the post-revolutionary state seizes the means of production, mandates the implementation of direct elections on behalf of and within the confines of the ruling proletarian state party, and institutes elected delegates into representative workers’ councils that nationalise ownership of the means of production from private to collective ownership.

      https://en.wikipedia.org/wiki/Dictatorship_of_the_proletariat

          • anarchiddy@lemmy.dbzer0.comEnglish
            21·
            3 hours ago

            A ‘dictatorship of the proletariat’ has elements of democracy, but it is explicitly not the same as a liberal democracy (nor is it really the same as a straight-out dictatorship). It’s possible that some people prefer the Trotsky version of socialist states (one where multiple socialist parties might compete for power), but the ML single-party version is still very much within marxist theory.

            The Chinese political system is democratic, just not in the same ways a western democracy might be. Western liberals seem to either not know (?) how the Chinese system works, or miss-understand what ‘democracy’ means as it pertains to Marx’s ‘dictatorship of the proletariat’. Either way, @explodicle@sh.itjust.works seems to be operating under a liberal-democratic understanding of democracy, but that’s really not a given in marxist theory.