While some might see that as an improvement, this post really has nothing to do with the Presidency. (To read more about that, Google pretty much any other site on the Internet.) Instead, we’re going to take a look at the latest stock market rally- a quick one, because like Stan Marsh after turning 10, I’m getting tired of the same old…well, if you haven’t see the episode, check it out sometime.
As of this writing, most American stocks are rallying substantially, with tech, in particular, rocketing to new highs. The explanation given is that globalist Emmanuel Macron will defeat nationalist gadfly Marine Le Pen, in a country with shores located more than 3,500 miles away from Wall Street, with a GDP of less than 1/5th of the U.S.’s. What does this have to do with the most expensive stocks in world history, increasing even more in value? Who cares? Buy stocks!
A less snarky explanation would be that with a global economy so interconnected, it is in need of its proponents to be in charge at all times. Macron supposedly keeps that order maintained. But even with THAT explanation, what does it say about the strength of the global economy, that if one of its leaders is voted out- and one not even in the top five in GDP– it puts the whole system at risk? Just how fragile is this thing? And how absurd is it that Wall Street puts so much faith in these leaders to begin with? Do they think its years (decades?) of easy money and endless bubble cycles can be maintained indefinitely, if they just keep people in power who believe in it?
To be fair, they’ve done a very good job with it so far- by their definition of “good job”. But make no mistake- this whole thing is primed for a popping, regardless of who is in charge, be it a nationalist, a populist, a duck, or a Trump. But as long as the party keeps going, enjoy your Rob Schneider movie collection, while you still can…