By Michael Every of Rabobank
I am Markets, Hear Me Roar
I’ve already recently pointed out several times that “The Roaring 20s” is a terrible Great Gatsby-and Great Leader-laden analogy for our current decade, and that anyone adopting this as a label can’t count to “30s”. Yet who needs to count anything but money, right? As that great bright torch moving across a great dark wall, Bloomberg, summarizes it: “An Everything Rally as Real Yields Fall”. And so Roaring we all are:
I am markets, hear me roar; In numbers too big to ignore
And I know too much to go back an' pretend; 'Cause I've heard it all before
And I've been down there on the floor; No one's ever gonna keep me down again
Oh yes, I am not wise; it's no wisdom born of no pain
Yes, I've paid no price; But look how much I gained
If I have to, I can do anything
I am strong (Strong); I am invincible (Invincible)
I am markets...
- Genocide accusations: ROAR!
- Jack Ma turns up after months of absence to give a short speech about rural poverty rather than his business, which sounds like a self-criticism session: ROAR!
- China puts sanctions on key ex-Trump officials AND their immediate families(!), and during President Biden’s inauguration speech, which is a huge protocol breach: ROAR!
- China-hands like Bill Bishop point out these sanctions kill any chance to work as a lobbyist in DC (which Trump had just allowed by revoking his own ban), and that this is a message from Beijing