It was never trade wars. Geopolitics draws the online clicks, real answers were always something else. In a world where populism is the rising political strain, you would think there would be honesty in trying to assess its roots. It would require, however, honest thinking. That’s been in short supply for a very long time.
Last week, CNBC reported the results of its Global CFO Council. It’s a broad list of Chief Financial Officers spanning all industries, therefore companies reaching deep within the global economy. Like everyone else, they last were afraid of trade wars when that’s what media companies like CNBC were focused upon groping for answers to 2018’s snowballing disappointments.
Now?
Flagging demand from consumers is replacing U.S. trade policy as the chief concern in boardrooms around the world, according to a CNBC survey.
Nearly half of the panel, 46%, now say demand is their number one worry. Trade policies? Just 10%. What happened over the past few months?
Collateral. Hierarchy. Eurodollar. Again.
You wouldn’t know it from the media. They still take their views on the economy from Economists, the same people who have a vested interest in steering all discussions away from what should be the biggest story in history. If it keeps going this way, it almost certainly will be.
Instead, we are told everything is being taken seriously. Washington Post columnist Fareed Zakaria has been lambasted since last Thursday for publishing an utterly bizarre attempted justification. The title of the article gives away the agenda.
I wanted to understand Europe’s populism. So I talked to Bono.
Yes, who better to understand the plight of tens of millions of working-class Europeans than U2’s frontman. He’s got it figured out, you see, the very answer lacking in these dark times.
The only way to counter the dark, pessimistic vision being peddled by nationalists and extremists, Bono says, is to have an uplifting, positive vision.
