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Ukraine and the ambient embarrassment of European politicians - Economic Policy

Ukraine and the ambient embarrassment of European politicians – Economic Policy

Last Monday, July 4, was the American National Day. By dint of talking about the United States from the angle of its problems, linked to the non-control of firearms, its backtracking, with the ban on abortion in certain States, or more simply the risks of recession that threaten the country, we would come to have a biased image of America.

In short, to say that this July 4, there was nothing to celebrate if you were American, but it is a mistake to think in this way, at least on the geopolitical and economic level. Take NATO, everyone remembers what President Emmanuel Macron said: that NATO was brain dead. Poor guy, he must be biting his fingers to have said that because today NATO is not only opening up to other countries in Europe, but at its last meeting in Madrid, NATO had invited 4 Asian countries (Japan, South Korea, Australia and New Zealand). And this is a historic first, to believe, as Marc Fiorentino writes in his stock market newsletter, that “the war in Ukraine is only a rehearsal for a future confrontation with China and that the NATO is preparing for this by recruiting allies in Asia”. In short, NATO, which is under the orders of the Americans, is anything but brain dead. Thanks WHO ? Thanks to Putin, who gave a boost to American domination.

If you are invested in the stock market, you will also have noticed that among the stocks that have tasted the most, there are the major American technology companies. But there too, it would be an illusion to see a weakness in the American economy. And the reason is simple: the stock market plunge has not, but absolutely not, changed the hierarchy of world stock markets. The country of Uncle Sam alone has 15 of the 20 largest listed companies in the world. And if the sector of technology stocks has had a drink in recent months, this sector is still the world’s largest sector since it concentrates 32% of the market valuation of the first 100 companies listed on the stock exchange. I write 32%, whereas this technological sector weighed less than 15% of the total of these 100 first companies, ten years ago still. As the Chinese say: when the wise man points to the moon, the fool looks at the finger.

So, yes, whether in terms of energy, military protection and technology, the United States still remains the center of the world. The best proof, the dollar is in great shape, it is the queen currency on the foreign exchange market and it is not yet ready to be dethroned. Meanwhile, Marc Fiorentino is right to notice that there is a form of embarrassment in the media, and among some commentators, to talk about the real situation in Ukraine: “every day that passes, a city goes under bosom of Russia, which annexes them in fact. The Ukrainians resist courageously but they lack the means”.

For the time being, Ukraine does not want negotiations on the status quo but despite the virile speeches made here and there, Marc Fiorentino thinks that “many European countries would like Ukraine to accept a truce with the sacrifice of ‘part of its territory’. It’s cynical but according to him, it’s the “price to pay to have wheat and gas this winter”. Hence this feeling of ambient embarrassment.

In short, to say that this July 4, there was nothing to celebrate if you were American, but it is a mistake to think in this way, at least on the geopolitical and economic level. Take NATO, everyone remembers what President Emmanuel Macron said: that NATO was brain dead. Poor guy, he must be biting his fingers to have said that because today NATO is not only opening up to other countries in Europe, but at its last meeting in Madrid, NATO had invited 4 Asian countries (Japan, South Korea, Australia and New Zealand). And this is a historic first, to believe, as Marc Fiorentino writes in his stock market newsletter, that “the war in Ukraine is only a rehearsal for a future confrontation with China and that the NATO is preparing for this by recruiting allies in Asia”. In short, NATO, which is under the orders of the Americans, is anything but brain dead. Thanks WHO ? Thanks to Putin, who gave a boost to American domination. If you are invested in the stock market, you will also have noticed that among the stocks that have tasted the most, there are the big American technology companies. But there too, it would be an illusion to see a weakness in the American economy. And the reason is simple: the stock market plunge has not, but absolutely not, changed the hierarchy of world stock markets. The country of Uncle Sam alone has 15 of the 20 largest listed companies in the world. And if the sector of technology stocks has had a drink in recent months, this sector is still the world’s largest sector since it concentrates 32% of the market valuation of the first 100 companies listed on the stock market. I write 32%, whereas this technological sector weighed less than 15% of the total of these 100 first companies, ten years ago still. As the Chinese say: when the wise man points to the moon, the fool looks at the finger. So, yes, whether in terms of energy, military protection and technology, the United States still remains the center of the world. The best proof, the dollar is in great shape, it is the queen currency on the foreign exchange market and it is not yet ready to be dethroned. Meanwhile, Marc Fiorentino is right to notice that there is a form of embarrassment in the media, and among some commentators, to talk about the real situation in Ukraine: “every day that passes, a city goes under bosom of Russia, which annexes them in fact. The Ukrainians resist courageously but they lack the means”. For the time being, Ukraine does not want negotiations on the status quo but despite the virile speeches made here and there, Marc Fiorentino thinks that “many European countries would like Ukraine to accept a truce with the sacrifice of ‘part of its territory’. It’s cynical but according to him, it’s the “price to pay to have wheat and gas this winter”. Hence this feeling of ambient embarrassment.

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