I do agree with all of your comment. I am left wondering if this is just the end result of fiat currency debasement, leading to decades of debt accrual, and now higher interest rates due to aging global demographics; a phenomenon most central banks have publications on.

Which is something Ray Dalio talks a lot about, maybe this populism and divide is just a symptom of a larger problem. Germany does do unsustainable immigration to help deal with their aging demographics, which could easily lead to unequal asset price inflation and then nationalism/xenophobia.

Then obviously CBDC and an attempt to perform financial repression, since financializing housing to derive new money supply to grow aggregate demand won’t work any more.