Predatory elite is a useful counterpoint to the scapegoating of the "liberal elite", who, as you point out, are basically irrelevant in power politics.

I once wasted a bit of time arguing some economics point with a friend of a friend on Facebook. He was very conservative and finally got so frustrated that he called me a "neoliberal." Which made me laugh and realize it was time to bow out. I never did explain to him what a neoliberal was ...