“”I expect that the populist backlash will be intense and will impact everything from high-end real estate to PACs (effectively political shell companies),” says one of my favorite sources, Peter Atwater, a behavioral economist. “Voters are increasingly angry at the seeming transience of the financial/corporate/political elite. The 1% can move anywhere they want–and profit handsomely from the relocation, but the 99% can’t. Worse, the 99% are left with the aftermath–the empty buildings of a deserted Detroit, the toxic waste from chemical plants in West Virginia or the unsustainable tax liabilities of Puerto Rico.”” — You mean, exacerbate “capitalism’s” (really, cronyism’s) great crisis…
previous post