As Wall Street whines about the Fed and seems to only care about getting stock prices higher, very few people we know can connect the dots and understand that the world economy and the post-war global geopolitical order, for that matter, are in the midst of “The Great Reset.”
All things as we have known and have become comfortably numb with, such as zero interest rates, negative real interest rates, quantitative easing (digital money printing), and Pax Americana, are being upended and overturned. Beware of recency bias, folks, as the global structural shifts and changes are now ubiquitous.
Sunday’s election in Italy is just a fractal of the Great Reset, which will usher in the hard-right new prime minister, which, we believe, history will look upon as “Ms. Mussolini.”
The eurozone is in trouble with a capital T.
Giorgia Meloni’s electric performances at political rallies have made her a virtual shoo-in to become Italy’s first female prime minister in Sunday’s ballot. She’ll also be the first to campaign with the flame symbol, evoking the former fascist leader, Benito Mussolini.
The prospect of a charismatic nationalist taking power with almost no government experience has investors and officials on edge. Italy, of course, is wrestling with the fallout from the most serious conflict in Europe since WWII. But the country has been adrift for years, struggling to hit on a formula which can unlock its potential while staying true to its identity. – Bloomberg
Our good friend, Professor Constantin Gurdgiev, in his priceless sense of humor, put it this way,
P.S. My 19-year-old daughter is traveling in Italy and promised she would pick up and bring back a few copies of the major Italian post-election newspapers from Monday morning.