This is "group think" from a servant of the Davos "World Economic Forum" set. These are difficult political times. Trump is not good for us, and nor is the Davos set. The great political pitfall is, in reaction to Trump, we go back to supporting the Davos crowd.
LET THEM EAT CAKE.
QUOTE: "The basis of this mood is hardly self-evident, as the country is better off economically than it was a half-dozen years ago, in the immediate aftermath of the 2007-08 economic crisis."
Mr. Haas says we are better off than we were in the worst crisis since the Great Depression so we should be happy.
Sounds like Versailles. Let them eat cake. Perhaps he should be thinking about the guillotine?
No need for anything that extreme, but the response to the financial crisis has hardly been equal. Time series of income and net worth, broken down by income percentile:
The fall of the Berlin Wall heralded not only the collapse of communism in Europe, but also the destruction of a broader – and far more constructive – social-democratic compact. To prevent a return to extremism and instability, that compact must be refashioned for the twenty-first century.
In 2017, Chinese President Xi Jinping declared that by the time the People’s Republic celebrates its centenary in 2049, it should be a “great modern socialist country” with an advanced economy. But following through with planned measures to tighten mainland China's grip on Hong Kong would make achieving that goal all but impossible.