Happy days are here again in France. How do I know? The stock market says so. Talk about instant discounting, I mean c'mon man!
"Phew" says the world as the anti-establishment party though establishment policy guy, Macron, came out ahead of Le Pen in the first round of French Presidential elections. Macron speaks the language of the pro-EU globalist types, and the world loves that. Again, I know this because the DJI average is up 200 points on the back of the election outcome.
Macron translates into greater profitability for corporate France, and apparently corporate rest-of-the-world too.
Macron means more jobs and higher wages for the French. Macron means higher GDP growth rates. Macron means it will finally all work. NOT!
Algo black boxes and blind trading have pushed equities higher. Actual corporate financial fundamentals have not changed one bit.
Macron is the status-quo. One thing the French don't need right now is the status-quo. It is killing them; literally.
Whoever is against the EU should win in France. The French have lost bigly since 1999, and a Macron victory will not change that. Will a Le Pen victory? Yes, she has pledged to take France out of the EU. That is a chance worth taking.
The most excitement thus far in the media in response to the election outcome has been about how the polls were actually accurate this time. With that, the first polls for the second round in May have been assumed to be absolute accurate; this election is over ladies and gentlement. Macron wins.
Note to the French: there are no painless solutions to solve the problems imposed upon your country by 40 years of failed leadership. At the top of the list the EU and the EURO.
I'm busy working on my blog posts. Watch this space!