The (Serious) French Connection

By | 2017-07-17T16:47:38+00:00 July 6th, 2017|Global Market Update|

What do you do when your boss announced plans for a layoff? Emmanuel Macron. Source: Wikipedia That’s what Emmanuel Macron did a couple days ago, in a powerful speech to both houses of the French Parliament. The assembly has 925 seats, and Macron announced plans to cut its number by a third. If the houses don’t agree, he said, he will bring his initiative to the voters directly. He also told the lawmakers that they need to legislate less, that France can’t keep up [...]

French Revolution?

By | 2017-07-17T12:21:19+00:00 May 10th, 2017|Global Market Update|

What does Sunday’s election mean? Photo: Lorie Shaull. Source: Wikipedia On Sunday the reformist candidate Emmanuel Macron defeated populist Marine LePen by a landslide, 66% to 34%. The 39-year old will become the youngest French head of state since Napoleon. Macron has been described as a social democrat, who supports liberal social policies but who wants to enact conservative fiscal reforms, along the lines of the “third way” advocated by Bill Clinton, Tony Blair, and Gerhard Schröder. It’s astounding that Macron was elected. He [...]

French Revolution?

By | 2017-07-17T12:21:20+00:00 April 25th, 2017|Global Market Update|

How does the French election figure into this crazy season? Photo: Benh Lieu Song/ Source: Wikipedeia France’s weekend’s election prompted markets to rally around the world – a development some have called, “Le Phew.” The French stock market rose by 5% – the equivalent of 1000 points on the Dow. Other markets also rallied: Germany was up 3, London 2%, even Japan rose at least 1%. There has been a global “risk-on” trade, because the most radical outcome – a France that rejects the [...]

French Lessons

By | 2017-07-17T12:21:28+00:00 March 1st, 2017|Global Market Update|

And people thought our Presidential election was wild. Source: Marine 2017 Election season in France has generated one surprise after another. The first round in their Presidential race occurs April 23rd. Currently, there are 10 contenders. Marine Le Pen – the French Nationalist candidate – is leading in the polls with 27% of the vote. If no candidate wins a majority in the first round, as seems likely, there will be a run-off vote between the two leading vote-getters on May 7th. Parliamentary elections [...]