The markets closed on a strong note yesterday and I think the smart folks are
seeing the French election as a very positive sign that all the misplaced
Eurosterity will now reverse course, giving way to more strategic public
investment. That said, an economic curve ball can always be around the corner.
The markets closed on a strong note today and I think the smart folks are seeing
the French election as a very positive sign that all the misplaced Eurosterity
will now reverse course, giving way to more strategic public investment. That
said, an economic curve ball can always be around the corner.

 

 

 

I think it’s safe to say that Monsieur Sarkozy will not be missed.
Let’s hope that the recent election with François Gérard
Georges Hollande winning 56% of the vote to Aubry’s 43% will signal
a new period of badly needed increased public investment in French
infrastructure and education.  This in turn should
lead other European nations out of the self-imposed Dark Ages of the
21st Century.

 

 

 

Back home, the economy could still affect the American election
but mistakenly so, if it does at all. No one person can control the economy
directly. That said, President Obama can put policies in place like another
stimulus, mortgage principle reduction, and an aggressive infrastructure
investment program modeled after FDR’s WPA program or the CCC creating lots of
jobs. Gasoline prices are a dangerous variable here. A universal tax imposed
multilaterally by, say, G20 or OECD on global speculation trading would throw a
wet blanket on rising gas prices very quickly.

 

 

 

Austerity and free market reign didn’t work for Sarkozy and it certainly will
not be an option for Mr. Hollande.

 

Que Sera, Sera but not on my
Euro.