Markets "bought" the election. Now the question is whether they will sell the inauguration. That is the take from the latest weekly letter by Goldman's chief strategist David Kostin, who says that "investor angst is high." Kostin then explains the one-word reason behind such confusion and angst - take a wild guess what it is.
Via The Daily Bell
We need an alternative to Trump's nationalism. It isn't the status quo. The answer to neoliberalism’s Waterloo cannot be the retreat to a barricaded nation-state and the pitting of ‘our’ people against ‘others’ fenced off by tall walls. - UK Guardian
The Guardian has suggested that progressive internationalism should be the antidote to populism around the world. It says that one cannot fight Trump’s supposed populism without suggesting and promoting an alternative.
Less than 4 years ago, and shortly after his infamous "whatever it takes" threat to speculators, Mario Draghi responded to a question from Zero Hedge readers, saying "there is no Plan B" when it comes to contingency plans for a Eurozone nation leaving the monetary union. The reasoning was simple: the mere contemplation of such a scenario assigned a probability to its occurrence, which is why the ECB was desperate to give the impression that no matter what, Europe's cohesion is unbreakable.
While the rest of the developed world woke up in a cold sweat on the first official morning of the Trump presidency, the Kremlin said that Russia's Vladimir Putin was ready to meet President Trump but preparations for the possible meeting may take months, not weeks, according to Putin spokesman Dmitry Peskov.
Following yesterday's openly confrontational, deliberately protectionist presidential address by president Trump, which in various circles has been dubbed the "American carnage" speech for obvious reasons, some of Obama's closest foreign friends are scrambling to find a role in a world that has drastically changed in less than 24 hours.