Wednesday, October 19, 2016

Change Is Both Necessary & Impossible?
"Anti-global sentiment has been the loudest message of the current presidential campaign in the U.S.. The most likely origin has been a buildup of discontent due to failure to develop a convincing response to economic slowdown in the last years. This has recently emerged as the main theme of public discourse. Current presidential campaign has highlighted to what extent the Change is as necessary as it is politically impossible. The underlying problem can be traced back to the fact that economic interests have become increasingly global while politics, the ability to decide, remained passionately local and, as such, unable to operate effectively at the planetary level .. Impotence of politics reinforces dominance of the global which undermines political power further. As a consequence, mainstream parties are being blamed for bad economic situations and losing their power and public support. Their representatives, both left and right, are seen as representing interests of global capital and are perceived as defenders of status quo .. Although the elections are most likely to be won by the centrist party, the voice of the populist wings have been sufficiently loud that they could no longer be ignored. In all likelihood, the new administration will be facing even more fractured consensus than before where higher level of compromise and different alliances will have to be forged -- if that is not done in the first four years, the problem will return potentially even bigger in the next elections. The concessions are expected to have protectionist overtones while compromises and alliances are expected to be made in the context of fiscal policy."
- Deutsche Bank Credit Derivatives Expert Aleksandar Kocic
LINK HERE to the article

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