Why would the bums want to be thrown out?

People are voting against political parties in government all over the world, wrote Ruchir Sharma. "Right-wing reformers are rising where left-wingers ruled, progressives are rising where conservatives ruled, and unconventional populists are gaining where the traditional parties are especially weak," he wrote. "If there is a common factor driving voters worldwide, it is less a particular ideology than a deep but amorphous desire for change." Why the anger? "The voters anger stems from the wide and persistent slowdown that has taken root since the global financial crisis of 2008. The growth rate of the global economy has slumped to around 2.5% this decade, from 4% in the decades before 2008, undermined by weakening growth in both population and productivity. No major region of the world is growing as fast now as it was before the crisis." The US economy has been growing for 96 straight months, and unemployment is down to 4.3% but wages are not growing in step with economic growth, wrote Danny Vinik. Wages are growing slowly because of hidden unemployment, which is reflected in low inflation. A couple of weeks back the Federal Reserve in the US raised its Funds rate by 25 basis points to 1%. The Fed targets retail inflation of 2% but some economists are urging the Fed to set a higher inflation target, which means that they are asking for low interest rates to continue. These economists are concerned about increasing inequality and are hoping that low borrowing costs will encourage borrowing for new investments, which will lead to increased job opportunities for the working classes. A report from the World Economic Forum warned of increasing polarisation of society due to rising inequality. Most of the wealth generated is going to the top 1%. But, surely low interest rate is one of the main causes because it allows the rich to borrow cheaply to buy up assets? Low interest rate tempts people to buy on credit, gradually trapping them in debt that they cannot repay. The middle class in Britain has racked up 198 billion pounds in unsecured debt. The present global prosperity, enjoyed by the old, is based on debt which the young will have to repay, wrote Satyajit Das. "Central to the issue is that the rise in living standards and prosperity of the past 50 years has been largely based on rising debt levels, ignoring costs of environmental damage and misallocation of scarce resources." Ken Buck, a member of the US Congress, wrote that there should be term limits on elected representatives just as there is on the president of the US. In India there is no question of term limits. Politicians not only try and hang on for life but get their children, brought up with a sense of entitlement, financed by taxpayer money, elected so that succeeding generations can continue to loot. We vote to be looted. How stupid is that?