The speech is over 5 years old, but its explanatory simplicity greatly help to see through the fogs that today are still moving the emotions of electors on both sides of the Atlantic. Already describing also the disaffection of the great public with the Washington and Wall Street elites (both left and right, in the USA as in Europe). Anticipating the change in the way governments will be managed, will rise (and spend) taxes, explaining financial repression within the States more in need to keep receiving financing to support their debt (think about capital absorption for the different investments of banks, insurance companies, pension funds).
Really simple, with the names and roles of actors involved. Not the first time Raghuram Rajan has been so clear and useful for an enlarged comprehension of themes otherwise judged too difficult for the larger public.
Here below the link to the speech.