One of the big wildcards for the United States is the rise of angry populism, a bad sign according to the circle of life rule. Prospects for major reform rise when new leaders are coming to power, particularly after an economic crisis and when they have a mandate to revive growth. But often is not always. In other post-crisis environments, the electorate may demand something more like retribution, rather than reform, if they are angry over rising inequality or fearful of foreign threats. That is the mood in many countries now, the United States included. To an extent not seen in many decades,
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