Europe’s largest asset manager Amundi is reducing its exposure to US dollar assets and turning to European and emerging markets, its chief executive has said.
Valerie Baudson, whose firm has €2.4 trillion of assets under management, said Amundi would advise clients to shift away from the greenback over the coming year, warning that if US economic policy remains unchanged, “we will go on seeing a [weakening] of the dollar”.
You Americans voted a second time for orange man, though knowing very well what will happen. The US system allowed it, so, yes, the current system in the US needs to be destroyed to prevent that something similar may happen ever again.
A lot of uneducated folks voted for him thinking it would help the economy, and to note, it was less than a third of our populace.
I think misinformation did more damage than anything. So many people didn’t vote because Kamala wasn’t pro Palestine enough for them as just one example. People were really feeling the flames to disengage our voter base, with lies like, both parties are the same, your vote is meaningless, a cabal is really controlling it all anyways why vote?
And it would be foolish to think that misinformation is just limited to the US. It hit brexit hard, and it is coming for other more stable countries next as nefarious powers seek to upset the current world order.
Few people here are talking about radical reforms that would change the existing power dynamics and politicians are even less ambitious. Centrists are continually looking for off-ramps so that we don’t “go too far” (e.g., don’t abolish ICE, reform the courts, ban money from politics, reestablish the balance of powers). Even with a blue wave and a reformist president, expect there to be enough of those sorts to bog down any momentum for change and enough voters eager to reconcile and return to business as usual that nothing changes.
Other countries should be planning to insulate themselves from us, because we’re not going to become safe to trust. We may go back to Obama levels of foreign engagement and the slow grind of neoliberal economic policy, but we’re going to be teetering on the edge of another Trump for decades at least. His 40% of supporters are fanatical and have no exposure to outside viewpoints that would deprogram them, and the judges he’s put in place will allow insanity to stay mainstream.