On both sides of the Atlantic, borders have become a big issue in the guise of the equivalent question of whether a country can restrict the entry of migrants to numbers the electorate regards as sustainable....
The rapidity with which the status quo of "open borders" has been overtaken by the "populist crisis" suggests that, like the financial crisis of 2008, a bubble has burst. It went broke gradually then all of a sudden. The globalization and multiculturalism that were supposed to have delivered prosperity and security have not paid off. This failure has started a run on political capital of elites which has yet to stop.
Trump and the European populists are picking up political assets at a bargain. Glenn Reynolds observed:
[T]he press has three main kinds of power. One is to motivate the left. Another is to swing the middle. And the third is to demoralize the right. It’s pretty much lost the last of these, and I suspect the second one is fading too.
The Liberals leaders read their own press releases too long.
Read the whole thing.
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