[size=32]Sky Views: For all his flaws, Trump makes some powerful points[/size]
Ed Conway, Economics Editor
Donald Trump has already won this election. Sure, if the polls are to be believed, he may not be elected president tomorrow. But the phenomenon he represents isn't going away. It is a phenomenon that can no longer be ignored.Whatever the result, politics - both in the US and elsewhere around the developed world - will surely have to change forever.
If that change does not come, we can only expect more disaffection, more chaos and more unhappiness in the years to come.
Why? In large part, because Mr Trump has a point.
[size]Donald Trump was nominated in spite of his well-established faults, in spite of the distaste so many Republicans have for him. It emphasises how powerful some of the points he is making are.Ed Conway
He has a point that politics has become too dominated by vested interests, by lobbyists, by cynical, professional politicians.
He has a point that, for years, the spoils of economic growth have been shared too narrowly.
He has a point that many blue-collar workers have been treated unfairly; that they lost their jobs through no fault of their own.
He has a point that low interest rates and quantitative easing, or for that matter free trade, have benefited too few.
In many ways - his misogyny, his deceit, his bullying, his racism - Mr Trump is the most repulsive White House candidate in living memory.
But that rather underlines my point: he was nominated in spite of his well-established faults, in spite of the distaste so many Republicans have for him.
It emphasises how powerful some of the points he is making are.
Over the course of decades, politicians - on both sides of the Atlantic - have forgotten who they are supposed to represent. In truth this was more cock-up than conspiracy, more down to ignorance than intent.
They focused myopically on certain statistics - gross domestic product, employment rates, wealth levels - which painted the picture of a thriving economy.
They paid too little attention to what was going on beneath the surface - rising inequality, the prevalence of those reliant on food banks and in-work benefits, and the fact that those employment statistics tell you little about whether any given job is enough to pay the bills.
Helped in part by a myopic media and by a wider establishment which preferred to focus on the good news rather than the bad, they allowed the gaps between the privileged and the left-behind to widen.
They endorsed policies which only made the gulf wider: taxes on capital and land were diminished, while spending on benefits was trimmed.
They allowed their central banks to pump billions of dollars into asset prices, without giving much thought to the fact that this would only widen the gap.
They presided over a financial crisis of monumental proportions and then allowed those responsible - the central bankers, the regulators, the bankers - to get away with it scot-free.
They pushed ahead with free trade deals, on the basis that they would make everyone wealthier. They ignored the small print: that each country only gets wealthier in aggregate terms.
Some workers undoubtedly do worse as a result; some lose their jobs to cheap competition from China and Mexico.
Rather than spending billions attempting to reinvest in these workers, to soften the blow, our politicians spent years lecturing them, telling them to be grateful that the country as a whole was doing better, pointing at GDP charts.
Is it any wonder that so many in the US, and for that matter the UK, think globalisation has failed? That they blame their problems on immigration?
And yet, bien pensant politicians add insult to injury by accusing them of ignorance and racism.
When faced with a referendum over EU membership, or a presidential election, why should these millions of hard-working people pay any attention to the economists telling them they'll be poorer if they vote against the establishment?
Many of them already feel they've missed out. Many of them feel they have nothing to lose.
If globalisation is about to move into reverse, the politicians, and the establishment that supported them, only have themselves to blame.
I do not believe in conspiracy theories. But I do believe that a combination of ignorance (some of it wilful), laziness and cowardice from our leaders is largely responsible for the disaffection and division sweeping politics today.
Whoever wins tomorrow's election must recognise this and start the repair job.
Today at 4:50 am by Rocky
» Al-Sudani chairs the fifth session of the Supreme Coordination Committee between the governorates
Today at 4:48 am by Rocky
» A fruitful international-Japanese partnership produces its eighth batch... Celebrating the success o
Today at 4:47 am by Rocky
» The President of the Republic stresses the need to develop a future strategy for financial policy ac
Today at 4:45 am by Rocky
» Tomorrow.. Turkish Trade Minister visits Baghdad to discuss several files
Today at 4:43 am by Rocky
» Rashid and Al-Alaq discuss the future of the Iraqi banking sector
Today at 4:41 am by Rocky
» US Ambassador assures Maliki of her country's support for Iraq's stability
Today at 4:40 am by Rocky
» Parliamentarian addressing the Judicial Council: When will corruption files be resolved?
Today at 4:38 am by Rocky
» Economist: Re-exporting Kurdistan oil will cause Iraq to lose $5 billion and a budget deficit
Today at 4:37 am by Rocky
» Financial Advisor: Good performance of fiscal space reflects government’s ability to increase spendi
Today at 4:34 am by Rocky
» The President of the Republic stresses the need to develop a future strategy for financial policy
Today at 4:32 am by Rocky
» Parliament determines the most important laws it will work on before its legislative break in a few
Today at 4:30 am by Rocky
» Dollar exchange rates against the dinar in Iraqi stock exchanges
Today at 4:29 am by Rocky
» Government correspondence to install 8 thousand electricity meter readers
Today at 4:26 am by Rocky
» utube 11/16/24 MM&C-News Report-Iraq Dinar-Oil-Flow-Global Maritime Trade-Cross Border Transfer-Ex
Yesterday at 5:05 am by Rocky
» utube 11/13/24 MM&C MM&C News-Private Sector- Electronic Payments-Reconstruction-Development-Digit
Yesterday at 4:54 am by Rocky
» utube MM&C 11/15/24 Update-Budget-Non Oil Resources-CBI-USFED-Cross Border Transfers-Oil
Yesterday at 4:53 am by Rocky
» Al-Sudani is besieged by lawsuits over the “wiretapping network”... and Al-Maliki heard “inappropria
Yesterday at 4:49 am by Rocky
» Tens of thousands of foreigners work illegally in Basra... and the departments will bear the respons
Yesterday at 4:47 am by Rocky
» 4 reasons for the Sudanese government’s silence in the face of the factions’ attacks.. Will Baghdad
Yesterday at 4:46 am by Rocky
» PM's advisor: Government able to increase spending without inflation or fiscal deficit
Yesterday at 4:43 am by Rocky
» Prime Minister stresses the need to complete 2024 projects before the end
Yesterday at 4:41 am by Rocky
» Minister of Labor sets date for launching second batch of social protection beneficiaries in the pol
Yesterday at 4:40 am by Rocky
» Al-Sudani approves 35 new service projects, stresses the need to complete 2024 projects
Yesterday at 4:38 am by Rocky
» Minister of Labor: The population census will provide accurate calculations of poor families covered
Yesterday at 4:36 am by Rocky
» Electricity announces its readiness for the winter peak
Yesterday at 4:35 am by Rocky
» Economist: Parallel market remains pivotal to financing Iraq’s trade with Iran, Syria
Yesterday at 4:34 am by Rocky
» Trump: Iraq: A subsidiary or the focus of major deals?
Yesterday at 4:32 am by Rocky
» Counselor Mazhar Saleh: The government is able to increase spending without causing inflation or a f
Yesterday at 4:30 am by Rocky
» Al-Sudani's advisor to "Al-Maalouma": We do not need to bring in foreign workers
Yesterday at 4:29 am by Rocky
» Parliamentary Rejection.. Parliamentarian Talks About Jordanian Agreement That Harms Iraq’s Economy
Yesterday at 4:28 am by Rocky
» Al-Sudani chairs the periodic meeting of the service and engineering effort team
Yesterday at 4:26 am by Rocky
» Al-Sahaf: Washington continues to support terrorist organizations in Iraq
Yesterday at 4:25 am by Rocky
» Al-Maliki Coalition: America is trying to make Iraq hostile to its neighbors by violating its airspa
Yesterday at 4:24 am by Rocky
» Close source: Al-Sudani failed to convince Al-Hakim and Al-Amiri to carry out the ministerial reshuf
Yesterday at 4:23 am by Rocky
» Al-Sayhoud on Postponing Parliament Sessions: Bad Start for Al-Mashhadani
Yesterday at 4:22 am by Rocky
» Peshmerga Minister: The survival of the Kurdistan Region depends on the presence of a strong Peshmer
Yesterday at 4:21 am by Rocky
» Al-Maliki Coalition: US pressures prevent Israel from striking Iraq
Yesterday at 4:20 am by Rocky
» Nechirvan Barzani calls for keeping Peshmerga out of partisan conflicts, urges formation of 'strong
Yesterday at 4:18 am by Rocky
» US Institute: Trump administration may prevent Iraq from importing Iranian gas as part of pressure o
Yesterday at 4:16 am by Rocky
» The meter will visit families again.. Planning details the steps for conducting the population censu
Yesterday at 4:15 am by Rocky
» Government clarification: Is Iraq able to increase spending?
Yesterday at 4:14 am by Rocky
» Iraq advances over China.. Iran's trade exchange witnesses growth during October
Yesterday at 4:13 am by Rocky
» Al-Sudani approves 35 new service projects and begins implementing them within 10 days
Yesterday at 4:12 am by Rocky
» Al-Sudani and Al-Hakim discuss developments in the political scene and the results of the visit to K
Yesterday at 4:08 am by Rocky
» Minister of Labor: Government measures contributed to reducing the poverty rate from 22% to 16.5%
Yesterday at 4:06 am by Rocky
» Al-Maliki calls for strengthening national dialogue and unity to overcome the current stage
Yesterday at 4:05 am by Rocky
» Al-Sudani stresses the importance of accuracy and specifications in service and engineering projects
Yesterday at 4:04 am by Rocky
» Baghdad Governor: 169 projects are listed for referral and contracting
Yesterday at 4:01 am by Rocky
» Industry confirms success by signing 4 investment contracts for strategic industries
Yesterday at 3:59 am by Rocky
» Parliament confirms its support for conducting the general population census and decides to resume s
Yesterday at 3:58 am by Rocky
» Parliament gains a "holiday and a half"... Half of the "extended" legislative term passes without se
Yesterday at 3:55 am by Rocky
» Find out the exchange rates of the dollar against the dinar in the Iraqi stock exchanges
Yesterday at 3:54 am by Rocky
» Al-Maliki describes tribes as a "pillar" for confronting challenges in Iraq
Yesterday at 3:53 am by Rocky
» The plan in the "distribution method".. A representative describes the "investment achievement" as n
Yesterday at 3:51 am by Rocky
» Iraq is ahead of China in trade exchange with Iran.. These are the numbers
Yesterday at 3:49 am by Rocky
» MM&C 11/14/24 Central Bank Governor Urges Türkiye to Open Accounts for Iraqi Banks
Fri 15 Nov 2024, 4:50 am by Rocky
» MM&C 11/14/24 Trump and the Iraqi Banks Puzzle
Fri 15 Nov 2024, 4:49 am by Rocky
» New decline in gold in Iraq.. and globally records the worst week in 3 years
Fri 15 Nov 2024, 4:40 am by Rocky
» Monitoring body approves 2023 imports annual report
Fri 15 Nov 2024, 4:39 am by Rocky
» Development Road: Faw Port Ignites Regional Corridor Race
Fri 15 Nov 2024, 4:37 am by Rocky
» First in Iraq... Diyala sets a plan for "rural reconstruction"
Fri 15 Nov 2024, 4:35 am by Rocky
» Al-Saadi: Influential parties are working to erase the theft of the century file
Fri 15 Nov 2024, 4:34 am by Rocky
» MP: Baghdad supports the "Diyala Artery" project with 40 billion dinars
Fri 15 Nov 2024, 4:33 am by Rocky
» Source: General amnesty law will pave the way for the return of terrorist groups
Fri 15 Nov 2024, 4:32 am by Rocky
» The Prime Minister stresses the need to expedite the completion of the requirements for restructurin
Fri 15 Nov 2024, 4:30 am by Rocky
» Minister of Resources: The project to develop the left side of the Tigris River has reached its fina
Fri 15 Nov 2024, 4:28 am by Rocky
» Foreign Minister: We are proceeding with implementing the associated gas exploitation program
Fri 15 Nov 2024, 4:27 am by Rocky
» Swiss Ambassador Expresses His Country's Desire to Invest in Iraq
Fri 15 Nov 2024, 4:25 am by Rocky
» "We left the camel and its load" .. Moroccan farmers await "imminent compensation" from Iraq
Fri 15 Nov 2024, 4:24 am by Rocky
» OPEC sues Iraqi minister over oil violations.. What is Kurdistan's involvement?
Fri 15 Nov 2024, 4:23 am by Rocky
» Iraq warns of 'dire consequences' of imposing barriers to plastic products
Fri 15 Nov 2024, 4:22 am by Rocky
» Iranian newspaper: Iraq's development path is a step towards regional economic integration
Fri 15 Nov 2024, 4:21 am by Rocky
» Al-Mandlawi discusses with the Russian ambassador developing relations in the fields of economy, inv
Fri 15 Nov 2024, 4:19 am by Rocky
» Oil Minister discusses with Dutch Ambassador strengthening bilateral relations
Fri 15 Nov 2024, 4:17 am by Rocky
» The Minister of Oil discusses with the companies "+dss" and "Xergy", joint cooperation to develop th
Fri 15 Nov 2024, 4:16 am by Rocky
» Rafidain Bank announces a plan to include other branches in the implementation of the comprehensive
Fri 15 Nov 2024, 4:15 am by Rocky
» With the presence of the opposition... Baghdad supports the partnership government in Kurdistan
Fri 15 Nov 2024, 4:13 am by Rocky
» Parliamentary move to raise retirement age in state institutions to 63 years
Fri 15 Nov 2024, 4:12 am by Rocky
» Through leaks.. Warnings against creating political crises as parliamentary elections approach
Fri 15 Nov 2024, 4:11 am by Rocky
» Iraqi oil returns to decline in global markets
Fri 15 Nov 2024, 4:09 am by Rocky
» Parliamentary Committee: Iraq uses its international relations to avert the dangers of war from its
Fri 15 Nov 2024, 4:08 am by Rocky
» The value of non-oil imports for Sulaymaniyah and Halabja governorates during a week
Fri 15 Nov 2024, 4:07 am by Rocky
» Rafidain: Continuous expansion in implementing the comprehensive banking system
Fri 15 Nov 2024, 4:05 am by Rocky
» Planning: The population census includes residents of Iraq according to a special mechanism
Fri 15 Nov 2024, 4:04 am by Rocky
» Transparency website reveals non-oil imports to Sulaymaniyah and Halabja during a week
Fri 15 Nov 2024, 4:00 am by Rocky
» Al-Sudani directs the adoption of specialized international companies to prepare a unified structure
Fri 15 Nov 2024, 3:58 am by Rocky
» MP warns of a move that will worsen the housing crisis and calls on the government
Fri 15 Nov 2024, 3:56 am by Rocky
» Disagreements strike the Kurdish house... hindering the formation of the regional parliament and gov
Fri 15 Nov 2024, 3:55 am by Rocky
» Hundreds of Moroccan farmers are waiting for “imminent compensation” from Iraq.. What’s the story?
Fri 15 Nov 2024, 3:54 am by Rocky
» Iraq 10-Year Review: Spending, Imports, Unemployment in 2024 at ‘Highest Level’ in a Decade
Fri 15 Nov 2024, 3:52 am by Rocky
» Call to all smokers in Iraq: Prepare for the law
Fri 15 Nov 2024, 3:50 am by Rocky
» utube 11/11/24 MM&C News Reporting-IRAQ-USA-Financial Inclusion up 48%-Money Inside & Out of Iraq
Thu 14 Nov 2024, 5:16 am by Rocky
» Al-Mandlawi to the UN envoy: The supreme authority diagnosed the problems and provided solutions for
Thu 14 Nov 2024, 5:15 am by Rocky
» Saleh: Government strategy to boost gold reserves as part of asset diversification
Thu 14 Nov 2024, 5:14 am by Rocky
» Prime Minister's advisor rules out oil price collapse: Trump's policy will not sacrifice petrodollar
Thu 14 Nov 2024, 5:09 am by Rocky
» Tripartite alliance between Iraq, Egypt and Jordan to boost maritime trade
Thu 14 Nov 2024, 5:06 am by Rocky
» Parliamentary Committee reveals date of entry into force of Personal Status Law
Thu 14 Nov 2024, 5:03 am by Rocky
» Al-Fatah warns against US blackmail and Trump's intentions for the next stage
Thu 14 Nov 2024, 5:02 am by Rocky