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:
Economic theory does not provide a clear answer regarding the overall impact of technological progress on jobs. And even if automation has traditionally been beneficial in the long run, policymakers should never ignore its disruptive short-term effects on workers.
There is a reason that the US Federal Reserve chair often has a haunted look. Probably to his deep and never-to-be-expressed frustration, the Fed is setting monetary policy in a way that increases the likelihood that President Donald Trump will be reelected next year.
Following British Prime Minister Boris Johnson's suspension of Parliament, and an appeals court ruling declaring that act unlawful, the United Kingdom finds itself in a state of political frenzy. With rational decision-making having become all but impossible, any new political agreement that emerges is likely to be both temporary and deeply flawed.