In response to an FT Markets Insight by Marvin Barth, Global Head of FX Strategy at Barclays, on 7th November 2016, entitled ‘What investors misunderstand about the politics of rage’
“Regardless of who wins Tuesday’s US presidential election, we already know that the politics of rage — a broad-based rejection of center-left and center-right parties across richer countries — is thriving.
Polls suggest Donald Trump will win north of 55m votes, and recall that Hillary Clinton only narrowly topped Bernie Sanders’ 13m primary votes to win the Democratic nomination. Those who follow international politics spot a trend: Sanders, Trump, Brexit and the electoral gains of alternative parties across Europe from Spain’s Podemos to Germany’s Alternative für Deutschland. The politics of rage is gaining” – Marvin Barth
There is a 'disconnect' between what politicians say and what they do, what they promise and what they deliver, what they clearly 'are' and what they claim to 'be'.
Politicians, journalists and analysts are just starting to wake up to the fact that this is a global trend, but are still pretty clueless about the source of the problem...since 'looking in the mirror' is seemingly an alien concept.
The FT is so obsessed with not upsetting the apple cart, that it ignores the rotten apples. This is more than 'rage' - it is, as M puts it below - 'disgust'. And it is not a 'perception' problem - it's a 'reality' problem - a reality that has given birth to a deep and thoroughly well deserved mistrust in, and disgust with, the establishment.
And on that cheery note, and particularly to all my American friends – Happy Election Day! Whatever happens I am sure we will continue to live in interesting times…