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World events seem to have spiraled out of control this summer, especially in the developed world of the U.S. and Europe. Against all predictions, United Kingdom citizens voted to leave the European Union, calling into question the very future of this noble experiment in transnational governance. Islamic terrorists have made abattoirs of disparate locations, from Orlando, Fla., and Istanbul to Paris; Ansbach, Germany; and Nice, France. Racial strife has flared in U.S. cities, and police have been targeted in Baton Rouge, La., and Dallas.
In the view of Morgan Stanley macroeconomist Ruchir Sharma, at least some of these baleful developments, most notably Brexit, have their roots in the painfully slow global recovery from the 2008 financial crisis that wreaked such damage on world economic growth. For one thing, the recovery triggered growing income and wealth inequality within societies, as central banks, led by the Federal Reserve, have engaged in unprecedented loose monetary policies in an attempt to juice economic growth. The unintended consequence of these policies saw the rich benefit mightily as financial asset prices rose while the wages for the vast majority of the citizenry remained largely stagnant.
Regards,
Ted
https://www.google.com/#q=Ruchir+Sharma:+The+New+Global+Thinker++Barron's
