Perhaps we should all just go and re-read the Black Swan.
Leicester City’s Premier League triumph and Donald Trump’s road to the GOP nomination may seem like strange things to compare, but they are probably the two most unlikely major things that have happened this year.
These were not simply one-off unlikely single events. They are long-run wins, persistently written off by the media until they were a near certainty. Now both events are seen as game-changing: Trump has “already changed US and world politics… Themes and ideas that were on the fringes have now entered the political mainstream, and they will not disappear if and when Mr Trump loses”, according to the FT’s Gideon Rachman. Leicester have shown how “every club in the league now has the financial capacity to compete” according to the Telegraph.
The odds were both ridiculous for a limited field. There are 20 Premier League teams: for one to be 5000-1 to win the title is extreme, as was Trump’s 2 per cent chance given by FiveThirtyEight.
What comes next? Here the contrast is stark. Most neutrals hope that Leicester can have a decent-to-good run next season, while hoping that Trump’s campaign at best stalls, or preferably implodes. The tragic outcome would be the reverse.
And so to the matters of the week. Continue reading