American exceptionalism
A charismatic leader confounds expert opinion, and is elected on a platform of taking on a rent-seeking establishment, foreign enemies and restoring the country to former glory. Public pressure is applied to private firms in order to influence investment decisions. Budget-busting fiscal stimulus is on the agenda even with high debt levels. Despite a sceptical elite, the self-styled "greatest jobs President God ever created" is taken seriously, if not literally. The scenario above may be new to the US, but