By popular request, Tavernicus has come out of writer’s block as so much is going on that silence is no longer possible. I was recently asked why I had not written a blog for so long. My answer was I have been too angry. I imagine that is how millions are feeling as about half of the western world is on the wrong side of the argument, dependent entirely on your point of view.
Former top man, Michael Gove, made one wise comment before self-implosion when he said “I think people in this country have had enough of experts”. I am not sure why he limited his sentiment to this country.
I have expressed similar sentiments on experts in earlier blogs in so far as “experts” are invariably wrong so let me say I am not one and these words are nothing more than musings which occasionally turn into a rant.
Enough has been written about Brexit and there is little point in adding to the huge pile of rubbish already in the public domain other than to say that the dire predictions have almost all been wrong with the exception of the significant devaluation of the pound against the euro and the dollar. No doubt you will have read the views of experts that this is both a good and a bad thing. Go figure!
Now we have the latest development, where once again the experts and pundits were wrong, Donald J Trump as President Elect, which presumably the voters in the USA thought was the least worst candidate, (based on their electoral system). Now politicians in the UK and the EU are having to choke on their words. It is wonderful to watch these clever people standing on their heads. No doubt we are all left wondering how is that a country with 300 million people which claims to lead the free world produces two duffers as the best they can muster.
Underlying the events in the USA, in the UK and in the EU is the relative decline of the west versus the emergence of the east which has led to governments of all persuasions to run deficit economies for a very long time so as to create a fiction that all is well. Even before the balloon went up in 2008/9 western governments were, to a man, spending well over their tax receipts and making up the difference by selling government bonds. The buyers of these bonds were domestic and foreign financial institutions and when the recession broke the house of cards came down. Then it got worse; taking the UK as just one example the UK government has borrowed a further £500 billion on top of over £1 trillion in 2008. National debt is now £1.776 trillion and growing by over £5000 per second.
The Donald inherits national debt of $19.8 trillion. Under Trumpanomics, he is going to reduce taxes by $1.4 trillion and spend on infrastructure to the tune of $600 billion. Clearly the king of the deal does not do math, (US spelling). Don’t even mention the alchemy of Quantitative Easing which has only made matters worse, or better, no one knows.
After a long period of slumber the worm is turning and Disruptors are on the march. Assange, Snowden, Grillo, Marine Le Pen, Geert Wilders, Farage and now Trump. Disrupters are the phenomenon of the age and in this interconnected electronic world the elites are struggling to cope with the rise of the Disrupters because majorities are emerging who want the elites turfed out. This does not augur well as the alternatives do not have answers to the rise of the emergent economies, technological advances and uncontrolled migration. The old norms are fragmenting as pollsters cannot rely on their algorithms as voting no longer falls neatly within social class, education or age. Pollsters pack up and shut up please.
I offer no comfort except to say if you still have money earning the square root of nothing in a deposit account go out and spend it on something that makes you smile. Be profligate, everyone else has been, and you will be helping as dead money in deposit accounts will not drive the economy in these difficult times. Oh and by the way, the price of clocks has probably reached the floor although you might ask an expert before diving in.
One final thought. I have written on occasion of a wonderful free website, wordsmith.org. The USA is now possibly entering a period of KAKISTOCRACY. Look it up, particularly the origin of the word.
If you have been, thanks for reading.