May 6, 2012

BASTILLE FALLS; WORLD STOCK MARKETS NEXT? “This photo of a fleet of Ferraris purportedly fleeing to the Swiss border captures the feeling of many rich French people today. The socialist candidate François Hollande has defeated incumbent Nicolas Sarkozy — the first time a socialist has been elected President of France the Mitterand years,” Walter Russell Mead writes. “This is a good night to keep tabs on financial markets in Asia and then Europe; as investors digest the news we will see whether a panic breaks out. Hopefully, they won’t. The markets have had a few weeks to accustom themselves to an election outcome that was widely predicted in advance.”