The fact remains that our three decade experiment with trickle-down caused the financial crash and Great Recession by deregulating financial markets and driving the deep indebtedness of the middle class, pushing an already weakened middle class to the brink. Enter Trump, seizing the terrain that trickle-down created.
Obama's proposals towards "middle-class economics" and the recently released Economic Report of the President for 2015 highlight just how close the two countries are in their thinking about these issues and on how to make economic policies work more equitably for everyone. And yet, rather than coming together, the distance between the two countries has widened.
America's resurgence is real. With a growing economy, shrinking deficits, bustling industry, and booming energy production, we have risen from recession freer to write our own future than any other nation on Earth. Now we have to choose what we want that future to look like. Will we accept an economy where only a few of us do spectacularly well?
Globalization has mostly benefited the rich and the rising Asian middle class at the expense of the middle class in the West. The choice would seem either plutocracy and globalization -- or populism and a halt to globalization. Another solution would imply more substantial redistribution policies in the rich world.
Is the United States a strong nation? There's a notion that it is, of course -- based mainly on the disruptive philosophical underpinnings upon which this country was established. But these are all really the fumes of nostalgia. What else is there? Well, we have the best fleet of aerial drone death-dealers in the world (for now). Certainly our fast-food accomplishments are second to none. And our Reality Teevee Industry remains one of the more successful and innovative welfare programs in the world, lifting individuals with no evident utility to the human race -- and who would quite likely be pushed into ditches to die in lesser nations -- into the warm embrace of the Fame Economy.