The majority has spoken in America and, as in Britian’s Brexit vote, it has rejected the status quo preference for business as usual. No doubt, Trump seems as disreputable as Obama seemed inspiring in 2008. Still as a leader, Obama has been wholly ineffective at breaking up the log-jam of largesse to corporations that has stifled essential reform and evolution for the past 15 years. Yes Trump appears repugnant. And he could still be the leader America needs today. It didn’t have to be Trump as change agent, it could have been Bernie Sanders. But Democratic power brokers wouldn’t let the people have Bernie on the ballot. In their efforts to control outcomes, they have now been trumped by the unstoppable insistence on change, for better and for worse.
As for the economy, present challenges have been earned over 20 years of reckless, near-sighted policies. The world is due for the next recession and bear market in financial assets, no matter what government had prevailed last night. The truth is that the global economy hit a secular breaking point in 2008 as the consumer debt bubble burst in America. Since then we have lived through 8 years of extend and pretend policies that have only purchased an even deeper cycle of mean reversion, consolidation and write-offs. When in hell, we must keep moving: admit, repent and reform to recover.
In the end, change comes from ground up behavior shifts in individuals, their families and communities. We each must lead the change we wish to see. The responsibility and long-term rewards are ours alone. And because of that, there is great reason for optimism.
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