The widening wealth gap and why demagogues like Donald Trump are on the rise (again)

This week Donald Trump has been sworn in as the 45th US president and it was a truly historical event. Never before has a US president been so unpopular even before taking office. Usually, the week preceding inauguration and the first days in office are the honeymoon period for any new president during which they enjoy high popularity ratings. Not so for Donald Trump. Due to his divisive and openly hostile campaign, he could feel the stiff breeze of opposition right from the very minute he took office. Not only was the popular turnout at the inaugural ceremony very low, but millions of people took to the streets to protest against the new president even before he had enacted a single policy. And like any good demagogue worth his salt, what did Trump do when this rather inconvenient truth stared him in the face, he of course denied it calling all media outlets “dishonest”.

Trump inauguration
Top: comparing public turnout at the Trump inauguration (left) with Obama (right). Bottom: protesters against Trump on inauguration day.

While many people are still rubbing their eyes in disbelief about how a simpleton egomaniac without any political agenda other than “make America great again” could rise to power, his success, if seen in context, is not really such a surprise after all.
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Crisis? What Crisis? Housing prices in Barcelona on the rise again.

Although the unemployment rate has only slightly dropped below the 20% mark, a new housing bubble seems to develop with prices well on the rise.

A new housing bubble is developing in Barcelona

Renting

For the example of the Sant Martí district, the following graphic shows how rental prices have gone up during the past 12 months. On the fotocasa and Habitaclia websites (Spanish real estate portals for renting and buying) prices have begun to rise significantly in August/September 2016, yielding increases of 7-8% in a single quarter respectively. If we extrapolate this to August/September 2017, we obtain a 12-month increase in rents of around 30%!

Continue reading “Crisis? What Crisis? Housing prices in Barcelona on the rise again.”