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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Will we forge democracy anew?

Paul Krugman, January 15, 2026

"When Trump won the 2024 election, I feared — rightly — that our democracy would soon be in great peril. Between gerrymandering, a corrupt Supreme Court, a compliant Republican Party, and a tsunami of political donations from the tech broligarchy, I thought American democracy might soon perish.

But I thought the process of losing our democracy would be a slow, ineluctable descent as institutions and people resigned themselves to the seemingly inevitable. I expected the process to be akin to what happened in Hungary, where ordinary people’s lives remained mostly normal amid Viktor Orban’s authoritarian takeover. There, independent media have been suppressed, business has been co-opted by crony capitalism, the judicial and electoral systems have been rigged. But Orban didn’t employ armed thugs to brutalize, maim and murder people in the streets. Rather, Hungary’s democracy fell to a quiet, creeping coup.

My early fears weren’t completely off base. Everything that transpired in the first few months of Trump 47 suggests that if our own home-grown fascists had been as patient as Orban, a de facto dictatorship would have been established here with relative ease. Our vaunted institutions, our system of checks and balances, either capitulated quickly or were overrun by Trump’s onslaught. Big business quickly bent the knee, immediately directing its focus to how to make money through Trump trades. The Supreme Court and the Republican Congress abetted and even encouraged every fascist move.

Yet the US has not replicated Hungary’s measured slide into authoritarianism. For Trump and his minions aren’t patient. They want retribution and subjugation. Threats and dominance displays are how they operate. They burn with racism, misogyny, and performative cruelty.

So now we have Minneapolis, America’s laboratory of democratic destruction, where ICE agents have gone full Sturmabteilung, terrorizing and even killing not only people with brown skin, but anyone who protests or gets in their way. And the irony is that this may be for the better.

For a gradual destruction of democracy would have been hard to resist. After all, who wants to rock the boat when there’s money to be made, jobs to keep, perks to be had, convenient bothsideism to be upheld, if you will just be silent and keep your head down?

Instead, however, the assault on freedom and civil liberties is open, lurid, and impossible to deny. While our institutions and our elites have failed us, ordinary Americans are rising to the occasion. If Minneapolis is a laboratory of democratic destruction, it has also become a laboratory of civil resistance — organized civil resistance, of a kind we haven’t seen since the civil rights movement. When ICE is on the rampage, crowds of brave Americans, summoned by texts and whistles, quickly gather to stand against the masked men with guns. As the outrage grows, people of common decency — like the federal prosecutors in Minnesota who chose to resign rather than pervert justice by going after Renee Nicole Good’s wife — are taking a stand.

So what’s happening now is both horrifying and inspiring. How will it all end? I don’t know, but maybe, just maybe, our democracy isn’t being destroyed — it’s being forged anew in the hands of the American people."

Comments

  • Some serious props to the good people of Minneapolis, MN for standing tall. Respect.

    Keep hearing about impeachments in the background. No traction.

    No Epstein file releases or even any related talk about that issue. Wasn't Bondi to be impeached?
  • edited January 15
    The Master of Misdirection has done it again!

    • Send thug squads to shoot at American civilians, nobody thinks about Epstein.
    • Sic DOJ goons to prosecute the Fed president, nobody thinks about Epstein.
    • Invade Venezuela, nobody thinks about Epstein.
    • Threaten to invade Greenland, nobody thinks about Epstein.

    • A Ford worker does remember; Trump presidentially shouts "Fuck You" and flips him the finger; the worker gets suspended (fired?).

    I may have missed a few others on this.
  • JD_co said:

    Some serious props to the good people of Minneapolis, MN for standing tall. Respect.
    Keep hearing about impeachments in the background. No traction.
    No Epstein file releases or even any related talk about that issue.
    Wasn't Bondi to be impeached?

    Rep. Thomas Massie floated the idea of impeaching AG Pam Bondi
    due to the Justice Department's failure to release all the Epstein files.
    I haven't heard much discussion about this issue recently.
    Rep. Jim Jordan, who chairs the House Judiciary Committee, reported
    yesterday evening that Ms. Bondi will appear before the panel on Feb. 11.
  • Oh, well, that's different... I'm certain that Jordan will be sure to get to the bottom of the Epstein situation. Depend on that.
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