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The last time that it [Populism] existed as a major force in the world was in the 1930s, when most countries became Populist. Over the last year, it has again emerged as a major force. Look at this chart. The big spikes show when Populist politicians got the most votes in America and abroad...
EXTREME RISE OF POPULIST MOVEMENTS IN AMERICA
10% 15% 20% 25% 45% 35% 40% 30%
Now at highest level since 1930s
1900 1910 1920
1970 1940 1950 1960 1980 1990 2000
Source: Bridgewater Associates, LP
So what does this all mean?
It proves that what we’re experiencing today is eerily similar to what happened in the 1930s… right before the biggest and most radical Debt Jubilee in American history.
The economic comparison is stunning.
Interest rates hit zero leading up to each of these periods...
Made with FlippingBook Annual report