As demonstrated by market reactions to the Russia-Ukraine conflict — and when one takes into account the rise of inflation in the United States and elsewhere over the course of the last two decades — markets and governments seem to have diverging interests. In turn, markets and governments do not usually see eye-to-eye on the political and social issues which end up having major economic consequences. After all, governments and states — but especially Washington — make their bread and butter through corruption and warmongering, whereas corruption and warmongering are antithetical to the basic nature of the global economy and the global markets which are defined by economic interdependence and globalization.
Also, a rise in energy prices and a rise in inflation coincide with a spike in anti-establishment and populist sentiment in the United States, and this anti-establishment and populist sentiment — combined with a rise in energy prices and a rise in inflation — will perhaps render concrete consequences in the elections which are to be held in the United States in both 2022 and 2024. It remains to be seen what those consequences will actually turn out to be.
But as one Republican strategist said, all one has to do is to avoid Washington in the interim and to keep one’s hands off the situation in Washington and essentially let the Biden status quo crumble from within. Voter apathy is also something to take into account as we head into American elections in both 2022 and 2024. Simply put, Joe Biden does not have the star power to rally most of the American electorate to the polls, and perhaps most people are too busy with their personal lives to care for politics, especially now that normal life has largely picked up after having seemingly passed the peak of the coronavirus pandemic.
Essentially, Joe Biden resurrected the neocon death touch which led to the deterioration of socioeconomic and sociopolitical conditions not just in America, but also around the world over the course of the last couple of decades. This neocon death touch which Biden resurrected was the leitmotif of the Bush and Obama administrations, thus the inflation and wars which the international media are now highlighting as a result of Ukraine and its broader impact on the global economy and global markets.
And this neocon death touch now manifests itself in things like energy prices, inflation, as well as a recent rise in interest rates. Basically, a reversal or slowdown of a deterioration or decline in socioeconomic and sociopolitical conditions in America and elsewhere is congruent and equal to a reversal and negation of the neocon death touch which holds sway over Washington and in turn has adverse and negative impacts on the global economy and global markets. This neocon death touch has proven to be the most corrupting influence in the formation of Washington’s disastrous whole-of-government policy over the course of the last couple of decades, and it remains to be seen whether American elections in 2022 and 2024 address this issue.