CHRONICLE – The president-elect’s campaign donors are getting their money’s worth: bitcoin has gained 50% in one month, and is creating an artificial wealth effect not seen since subprime mortgages.
This is definitely not a spectacle for our sensitive European souls. Since the election of Donald Trump on November 5, we have been witnessing a financial bacchanal in the United States. Stock market indices are flying from record to record. In November alone, an additional $140 billion (according to EPFR data) was invested in US stocks. Unheard of since the internet bubble of the 2000s. Wall Street is, more than ever, a powerful sucker for capital – all the other major regions of the world are showing negative net flows. None of the fundamental concerns about the Maga program, and in particular its inflationary potential, seem to curb this euphoria. Donald Trump’s promises are irresistible.
The president-elect plans to lower taxes. He plans a wave of deregulation, particularly for banking and financial activities. He also intends to partially dismantle the anti-concentration arsenal…
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Business
France
