2) Lest anyone think I’m downplaying real issues, I’ve also written this piece on the worrying rise of young people on health-related benefits, highlighting the UK’s particular issue with young adult mental health: www.ft.com/content/1466...

I’d assume they aren’t inflation adjusted but from the looks of it, corporate profits have nearly doubled since 2020 which seems like it has outpaced the rate of inflation. So even if it were inflation adjusted, I’d still say corporate profits would be on the higher end relative to the whole graph.

This is most likely due to depreciation of assets and various tax deductions that reduce the taxable income corporations have to pay tax on.

People *really* hate inflation!

Though it’s also notable that most countries seeing political reversals this year have also had record high immigration, and parties on the right have made big gains.

Economic upheaval + social upheaval = 2024 election results.

Who Are These Federal Workers Trump Wants to Fire? www.bloomberg.com/opinion/arti...

There was a global inflation surge as the world economy reopened after the pandemic; Biden policies didn't have much to do with it, but incumbents everywhere paid the price, including Democrats in America (and by the way Trump's popular vote lead will probably be only ~1.5 points) 3/

This cuts both ways. Trump would probably have won in 2020 if Covid had waited a year to strike. America got Obamacare because the global financial crisis struck on Bush's watch; Britain got austerity because it struck on Brown's watch 2/