An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Bernie and Trump were never real options nor were they the cause of the unrest. They represented apparent alternatives. The actual future paths our government will take may be the same or different as the paths Bernie or Trump would have taken. Establishment victory in no way excuses the economic and governance systems from promoting merit, productivity, knowledge or any socially desirable outcome just as if the competition between candidates had been real. What is likely to be lost is a real effort to promote social mobility promised by the pseudo-candidates because that would threaten the elite. For MMT, I assume that means we get responsive fiscal policy but no JG/ELR that would enable labor markets to promote social mobility.
My suspicion is that whoever wins this election, it is going to be a transitional presidency. As I have said previously, I expect a transition based a fourth "spiritual awakening" in the decade of the 2020s. From the Sixtes until now the Boomers heavily influenced the history of the US, which was in large measure traced by their passage through the stages of life. Now they are approaching the final stage of life, the most numerous and prospectively influential generation will be the Millennials (previously called "Generation Y" to distinguish them from Generation X).It is difficult to generalize about the Millennials because they are not a homogenous generation. American is becoming increasingly multi-ethnic and multi-cultural. Many analyses focus heavily on white Millennials but their influence is decreasing as a portion of the population. So we entering new territory and there is considerable uncertainty about the future.Moreover, Millennials face challenges and have opportunities that are unique to them owing to technological innovation. They are the first digital natives, for example, and the first to be heavily influenced by social media. If there is one characteristic that they share in s;its of their differences, it is networking. So we can expect an increasingly networked society.
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