Nutstuff Top-knots vs Tattoo’s thematic of the last 2yrs is really now coming home to roost.
A Meme I was sent resonates: "In the last 10yrs Russia has been building advanced weapons (anyone seen a Kinzhal or Zircon hypersonic missile?) hacking into world market infrastructures and upgrading their military while we have been focussed on building gender neutral toilets and creating safe spaces for 20yr old blokes who get upset about words."
The Market is a discounting mechanism and ultimately the permanence of Greed will trounce the transience of Fear.
We all however need to remember that for 10yrs in Equity mkts all you needed to do was own 10x stocks.
Not 1 was an energy name or a food co. ! Maybe WHATSAPP and Netflix are essentials to many, but the last few days have reminded the brutality of life. Forget Semiconductors, look at gas, oil aluminium and wheat!
We are rapidly moving from an era where easy money, globalisation, cheaper travel etc made life and decision making easy som easy for the Davos elite and the politicians, the choice was between apple or Samsung, lulu lemon or Nike, voting for minority rights and ESG sensibilities were an easy 'feelgood' for western elites.
Now its back to making tough choices: food vs fuel, tighter credit, alliance A or B etc.
We in the west simply do not have leaders with experience of this. And the Davos elite are still clinging doggedly to their objectives and gains.
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