10 years ago we had a financial meltdown that had a seismic impact on day-to-day economics and the life of the man in the street (at least a Western developed market street). It was the bankers and the investment community that bought the pain that was then shared across the society, and the age of austerity was born. Continuing austerity measures, globalisation, migration and/or increasing automation, we now find ourselves in a period of remarkable political and social turmoil. But unlike 10 years ago, the impact of this turmoil on the big investment markets barely registers. Why is market sentiment so benign?