The oligarchs in the US learned from the oligarchs in Nazi Germany. It wasn't hard, we brought a whole bunch of them over after WWII to help us build better rockets. But I digress.

The US oligarchs learned that if you are "Der Führer," or the head of the Ministry for propaganda, the best you can hope for when shit hits the fan is the "continental cyanide breakfast" in a bunker. Much smarter is to have titular democratic elections where all candidates answer to the oligarchs. You might lose out this election to a rival oligarch, but you won't be hung, and next election cycle you'll get your turn at the top.

Note that you can exchange the word "fascist" for oligarch above because those two groups really want the same thing: a melding of gov't and big business.