Its a quote by Donald Trump. In an article, The politic of Humiliation, Dave Trott, discusses how everyone is struggling to understand the rise of populism in politics. When Donald Trump is so obviously awful, how can his base still support him with all the evidence against him?
“Trump understands this effect – he said: “I could shoot someone in the middle of Fifth Avenue and I wouldn’t lose a single vote.”
Trott says ” Democrats keep repeating how awful he is, and how stupid his followers are. They humiliate his supporters and expect them to admit they are thick and ignorant. Then they wonder why this argument doesn’t persuade them to change their vote. The blue collars may not like Trump, but they hate being humiliated by people who think they are superior.”
Michael Sandel, lecturer on political philosophy at Harvard, has written a book called The Tyranny of Merit. His point is the myth of a meritocracy is what’s brought us to this point.
The myth that anyone with a college degree is more intelligent, more hard-working, better informed than anyone without.
And my point is? There is clear evidence that when you allocate your capital for your future, investors overpay for services and do not benefit from as much of the investment return as they should. There are many investment providers selling expensive solutions. People are trusting these companies to deliver and to do so, they need more luck than skill. Yet, irrespective of the logic, the meritocracy, people are blind to the facts. Why? No one wants to be told they are doing the wrong thing. No one wants to feel humiliated. They will support what they doing and become entrenched. Investment providers, like Trump, understand these effects. Which they use to their advantage.
The only difference, Trump had 4 years but investors have 60 years of investing. Imagine if for 60 years you don’t take your blinkers off. How much wealth have you and your family lost? That’s what we call a catastrophe.