Is 2025 ‘Buy America’ Credo Too Consensus To Be Right?
If you chart the relative performance of US equities versus global shares excluding US stocks, you get a chart that looks like a hill you wouldn't want to climb.
The post-pandemic years (and the phenomenon obviously dates back much further than that if you pan out) were defined by US dominance with only fleeting periods of RoW outperformance, raising all sorts of existential questions.
As the figure below reminds you, the situation when quasi-vertical in the lead-up to, and following, the 2024
french curve
Trump is what could go wrong.
After reading Edsall’s latest essay, I’ve been researching bulk crypto purchasing, expatriating IRAs (can’t) and securing visas to democratic countries. A total break-down in US Law is happening. Here’s a gift link to that essay:
https://www.nytimes.com/2025/02/04/opinion/trump-vought-omb-government.html?unlocked_article_code=1.uU4.e0Oc.JN89A6IJMBxg&smid=nytcore-ios-share&referringSource=articleShare