During the long period of unusually low rates and consumer-price inflation, we had massive asset inflation. We also had unusually low unemployment and rather s

During the long period of unusually low rates and consumer-price inflation, we had massive asset inflation. We also had unusually low unemployment and rather sticky wages. The populism was driven (at least partly) by this state; assets going up while prices and wages staying flat leads to a "rich get richer" which pisses off everybody else.