The Fourth Turning Approach

We thought the economies were going well but inequality, those people who own assets did very well. Those people who worked for a living didn't do so well. And what you find then is the inequality creates insiders and outsiders. The outsiders vote for the nationalists, populists, all that sort of stuff. So my sense is very close to Martin Wolf's that this is a hinge period because we have now a European war or just the Ukraine world. But I think we're living through something quite scary at the moment.