This is Trend Following Radio, where great thinking comes alive.

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Covel.

Not filtered, raw, honest.

That's my passion.

So I caught this great article in the Financial Times, titled, A Warning for the Losers of the Liberal Elite.

If you make the same mistakes in the battles of 2017, populist will win everywhere.

Written by Wolfgang Monchow.

Hopefully I'm pronouncing that right.

To excuse my lack of German proficiency.

I love articles like this because it allows me to get into a debate.

With someone who says some things that I wholeheartedly agree with,

but then weaves in just absolute

assumptions, made up facts, made up visions, made up dreams that just don't exist in reality.

I'm going to read some passages from this piece and give some comment where comment is deserved.

From the article, starting this week, we need to get our heads around the possibility that U.S. President-elect Donald Trump is simultaneously reprehensible and economically successful, at least for some time. The instinct has often been to conflate

political decency and economic efficiency because this is what has been done for such a long time.

Fortuitously, our open liberal systems also happen to be the most efficient. They even produced

an acceptable distribution of income

until about 10 years ago. Yet, the period from 1989 to 2007 was exceptional. History is littered

with economically successful dictators and economically disastrous liberal Democrats.

Let me dig in there for a second.

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