It’s an unfortunate truth that, when people are worried about the future, they often put their faith in politicians to somehow make everything better.
Politicians, of course, are famous for promising panaceas for whatever troubles voters and inventing new troubles for voters to worry about, presenting themselves as the only ones who can solve these woes.
It’s not surprising then, that over time, any nation may slowly deteriorate into a population of nebbishes who not only let their government do all the thinking but also hand over all responsibility for the future.
In the last year, the world has seen many elections in which the top spot (president, prime minister, premier, etc.) was contested. In Brazil, Socialist President Dilma Rousseff was returned but almost immediately ran into trouble over a failing economy, scandals and corruption charges. In less than a year, her popularity sank to the lowest level for any Brazilian president on record.
In the UK, Conservative Prime Minister David Cameron was returned, which immediately triggered riots in London by the anti-austerity crowd. He will soon be facing increasingly angry voters of all stripes who are boiling over from the dramatically worsening immigration question. In addition, he’ll soon be facing a referendum on the UK’s membership in the EU – an event he’s been postponing for quite some time.
In Canada, voters have chosen to oust the Conservatives and return to the golden promises of the Trudeaus. With that, the Canadian dollar dropped immediately. Mr. Trudeau is planning a vast programme of public spending in the face of a declining economy, but he hasn’t offered any explanation as to how this can be paid for.
Argentina has just had its election. The departing Peronist, Cristina Kirchner Fernndez, has passed the baton (and a failing economy, rapidly declining peso and civil unrest) to the more conservative Mauricio Macri.
This post was published at GoldSeek on 10 December 2015.