The Middle Class fight back (aka populism)

Posted: November 11, 2016 in Uncategorized

The media call it populism as it has a negative connotation.

But, from wikipedia,

Populism is a political ideology that holds that virtuous citizens are mistreated by a small circle of elites, who can be overthrown if the people recognize the danger and work together. Populism depicts elites as trampling on the rights, values, and voice of the legitimate people.

Brexit, President Trump are not one off. Between the end of this year we will see Italy, Austria, France, Germany and Greece trying to follow the same path. Eevn in Australia, where there is no alternative, there is the rise of the independents.

The middle class has never been so poor (or working harder) since the second world war. The parents, if they can, have to step in to help their children to buy a property – even when the children have nice jobs.

And then you have the elites that they cannot even count how much money they have.

This trend has started around the end of the last century (1999 in Europe with the introduction of the Euro) and in the 1990s in the US with globalization.

If the elite and politics wanted to stop it they should have used quantitative easing policies in 2008 to save the world…but start reflationary policies (opsss…Trump idea?) in 2011 so the “spending” could restart.

They instead choose to do nothing and let the Central Bank save the world. Monetary stimulus can save only the stock/bond market – not the economy.

So do not cry foul at populism. Brexit, Trump and “Eurexit 17” have been at least 8 years in the making. In 2013 even I wrote a post “Europe Dead on Arrival” meaning that Europe would be saved economically, but the human tide of discontent will destroy it.

This is the future. In Italian there is a song by Vasco Rossi  “Gli spari sopra” 1993. Almost prophetic.

{The Elites} And it has always been easy to do injustice
Take, handle, make believe
But now be more careful
Because everything is written
And if the armies turn and heroes {police} disappear
If besides which now we start making the war

Do not smile, the shooting above are for you
Do not smile, the shooting above are for you



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