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Thomas Frank – “Trump won because Clinton and the Democrats dismissed the concerns of working people”

Summary:
This is good, Thomas Frank describes everything that is wrong with the Democratic Party and where it went wrong. It took the working class vote for granted and decided to represent instead the upward mobile class  of professionals who are very liberal on social values, but very right wing on economic issues. These people have top degrees and believe in the meritocracy and so have no sympathy for those poorer than themselves believing it's their own fault they got left behind.These aspiring top earners also believe the bankers did not mean to cause the economic crisis in 2008, and only cheated a little, but they say nothing about working class people who lied to to get a mortgage and so were then sent to prison. [embedded content] In his latest book, "Listen, Liberal : Or, What Ever

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This is good, Thomas Frank describes everything that is wrong with the Democratic Party and where it went wrong. It took the working class vote for granted and decided to represent instead the upward mobile class  of professionals who are very liberal on social values, but very right wing on economic issues. These people have top degrees and believe in the meritocracy and so have no sympathy for those poorer than themselves believing it's their own fault they got left behind.

These aspiring top earners also believe the bankers did not mean to cause the economic crisis in 2008, and only cheated a little, but they say nothing about working class people who lied to to get a mortgage and so were then sent to prison.

In his latest book, "Listen, Liberal : Or, What Ever Happened to the Party of the People ?", just released in France '"Pourquoi les riches votent à gauche" (éd. Agone), Thomas Frank explains how Hillary Clinton and the Democrats lost the 2016 presidential election. "Decades ago, the Democratic Party decided that thy did not want to be the party of the working class any longer. Thomas Frank call them the "professionals", they are white, rich, they have all studied in the best universities. They are very liberal on social issues, but very conservative and not as ease with the issues of inequality, incomes, etc.

"The Democrats, in the course of my lifetime, have become a party that is uncomfortable with discontent, with class-based anger. They don't like to talk about it. It makes them uncomfortable. Whenever they hear it, they try to get around it, they try to throw roadblocks in front, cognitive roadblocks, they don't want to think about it", acccording to Thomas Frank in this interview for the French newsmagazine "L'Obs". These Democrats want to be the party of a different class : the "creative" or "the winners". The democratic party and Clinton thought that the working class had "nowhere else to go", according to Frank. But they actually did vote for Trump....

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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