Thinking aloud

[timelets]

Steve Bannon deserves some intellectual respect. He was one of the fist among the conservatives who articulated an important problem in the contemporary American society: as a result of economic, technological and social changes, a large portion of citizens got worse off. Moreover, under the circumstances — globalization, services economy, automation, inclusiveness, etc. — they have limited (if any) paths to become better off. In the administration, he was the only one who cared about those unfortunate people, aka the Deplorables. When he resigned the plutocrats took over and used the opportunity to borrow against the future and give themselves nice tax breaks.

During the next business cycle we as a society will have to figure out how to solve the problem. Unfortunately, we'll be radically divided and have less money to spend on social issues.