We are living in a depression - that's why Trump took the White House
by Larry Elliott from on (#21EKR)
Since 1975, the fruits of economic growth have disproportionately been taken by the few. Donald Trump tapped into the quiet simmering anger of the many
Words matter. The process of understanding why Donald Trump is now heading for the White House starts with the correct description of what has happened in the eight years since Barack Obama became president.
Some economists call the turbulent period that followed the collapse of Lehman Brothers the Great Recession. Others say the US along with other developed nations is experiencing secular stagnation. Anything, it seems, to avoid using the D word: depression.
Related: The reasons for Trump were also the reasons for Brexit | John Harris
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