KRAFT POWERLESS – Trudeau Macron Günther Kurz
This will keep us preoccupied for a while. First worldwide Islamism, then populism, and now – practically through the backdoor – the performance of a new generation. Not at the club but rather at the control levers. A global phenomenon that presents a pleasant contrast to Erdogan and other oldies.
What does that have to do with us? More than you may think. Those who have been at the stock market for a while know: new bull markets are only possible when new generations appear that were not present at the last bear market. Those under 40 today meet this criterion almost perfectly. And what is the conquest of luxury boats off the coast of Cannes and Monaco by Haffa & Co. in the times of the New Market compared to the conquest of the Élysée?
We notice that the „Generation Golf“ which was young when the Wall fell and has always kept out of politics, has simply been skipped. It is not the kids of the those from the generation 1968 that deals with them – and they, in any case, have turned out like those, who their parents warned them against. It’s rather their grandkids, and they do so relentlessly.
Because it is the generation Internship that already today is paying for the vested rights of the suburban elite as access is closed and necessary changes have been put off – worldwide.
Visible only in democracies – totalitarian regimes don’t allow any of this, of course. If two thirds of voters state that the Green Party has no adequate answer to pressing questions of the economy, then they could easily spare themselves the appearance of seasoned communist Trittin last night on TV. But that’s what they look like, the personified vested rights and today’s storming of the Bastille, which will certainly be followed by the restauration – as is always the case in the history of European revolutions.
Conclusion:
The first strategists are already writing that Europe’s stocks have seen the high of the year. May or may not be true. Who knows. But one things becomes more and more clear: this bull market will probably make history as the longest to date, and the technological revolution, that we as investors with a focus on technology particularly like, doesn’t halt before government institutions and the everlasting conflict between the generations.
To say it in Popper’s terms: “We live in the best of all worlds existing hitherto, and the future is open.”
PS:
Neither Kim Yon Un nor Putin nor other favorite risks of German talk shows will change any of this. On the other hand it is not like everything is new. Macron is old compared to Napoleon: the latter took over power in France in 1899 at the age of 30. At the age of 45 he already sat on Elba, a year later he was headed – with a detour via Waterloo – on a journey with no return: to St. Helena.