The U.S. is experiencing a surge in populism because of an intense disconnect between elites and the masses. Elites have captured American institutions, making compromise and reform unlikely without a shock to the system. President Donald Trump identified this crisis, but his policies – at this early stage – do not suggest he will alleviate the core problems of popular well-being. With a recession on the horizon in 2019, we expect socio-political instability to rise ahead of the 2020 election.
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