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<\/p>\nAlmost exactly one year ago, alternative media wrote that 2024 would be the busiest political year on record\u2026\u2026.<\/p>\n
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……. including these main highlights:<\/p>\n
So with the main events of 2024 now in the rearview mirror we can conclude that this has been a catastrophic year for incumbents at elections.<\/p>\n
And not just in the US where Democrats have lost ground relative to four years earlier, but incumbents have also lost ground in the UK, France, India, Japan and South Africa as well this year.<\/p>\n
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An even more amazing stat comes from the FT<\/a>, which reports that every governing party facing election in a developed country this year lost vote share, the first time this has ever occurred!<\/p>\n According to Deutsche Bank, it\u2019s also the first time since the late 1800s that the incumbent party in the White House has lost three consecutive presidential elections.<\/p>\n A fascinating stat. So why is this occurring across the world? Accord to Jim Reid there are three aspects going on:<\/p>\n Overall, it feels like voters have ignored the extremely generous handouts after covid \u2013 which ultimately sparked the biggest inflationary tsunami in 40 years \u2013 and instead focused on the costs of these in the aftermath. The top cost likely being inflation, and although it\u2019s fallen back now, voters experience this on a cumulative basis, rather than a 12-month basis as economists often analyze.<\/p>\n The interesting question is whether this trend will continue. The fact that this is the first time in over 120 years that the US incumbent party has lost three times in a row might hint at a more structural problem where politicians are unable to deliver against expectations in a world of lower growth and fairly regular shocks.<\/p>\n Maybe, as Jim Reid concludes, James Carville’s \u201cIt’s the economy, stupid<\/em>\u201d remains the key going forward. A world where productivity growth remains low doesn’t help any incumbent promising a brighter future. So if we do get a productivity boost at some point from AI (which is not desirable) then maybe promises can be kept. Then again, to assume that a bunch of woke chatbots can revolutionize the way we live and work, may be even more naive than thinking Kamala Harris could defeat Donald Trump.<\/p>\n One aspect is certain: any political phenomenon which has even Alex Soros \u2013 who just wasted $1 billion backing the biggest Democrat loser in recent history \u2013 shocked that people everywhere are fed up with leaders who put globalist agendas above their own citizens, and are finally voting for leaders who actually serve them…….<\/p>\n Before you beat yourself up about the elections pls read this: — Alex Soros (@AlexanderSoros) November 7, 2024<\/a><\/p><\/blockquote>\n![\"\"](\"https:\/\/yogaesoteric.net\/wp-content\/uploads\/2024\/11\/3-18-300x198.jpg\")
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The incumbents in every single one of the 10 major countries that have been tracked by the ParlGov global research project and held national elections in 2024 were given a kicking by voters. This is the first time\u2026 https:\/\/t.co\/XiO03kEDDj<\/a><\/p>\n