Italy About to Turn Nationalist at Intermediate Peak in Social Mood

If you think the euro and European Union are out of the woods, that the populist wave has ebbed, think again. We are still part way through a decades long process. European nations are drifting in a nationalist direct despite social mood (measured by the market indexes) hitting new highs or at least multi-year highs. The elites of Europe (and most of the West) dug themselves so deep in the hole by pushing peak social mood policies well after social mood had peaked. They are still pushing in the wrong direction today, 18 years after the peak and 10 years after they should have woken up. I don't think the French Revolution is a good model for what is about to happen, but King Louis XVI actually tried reforming at first.

Update: other European debtor nations have similar charts.

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