The Guardian reports today:
European markets hit by politics
European stock markets fell sharply in early trading as the prospect of the US government shutting down and the Italian coalition collapsing this week sends shivers through trading floors.
Making it sound as though something terrible has happened! The Markets, with a Capital M, hit by politics??? What is the world coming to?
Yet isn’t it about time politics started hitting back at markets? For the past thirty years at least, through deregulation, graft, “the best politicians money can buy” and a demented headlong rush into a thoroughly dogmatic worship of markets, politics have been abolished. One need go no further than the EU to see this in practice.
So instead of shaking at the thought that markets have been hit by politics, perhaps we should start rejoicing.