Politics Trump Economics Redux

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Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it. But for whatever reason these are articles that are representative of some chord that has been struck in Narrative-world. And whenever we think there’s a story behind the narrative connectivity of an article … we write about it. That’s The Zeitgeist. Our narrative analysis of the day’s financial media in bite-size form.

To receive a free full-text email of The Zeitgeist whenever we publish to the website, please sign up here. You’ll get two or three of these emails every week, and your email will not be shared with anyone. Ever.


We took the title of this Zeitgeist from a tagline we used to lead with on Epsilon Theory. And instead of giving you a single article today, we are going to include each of the top six without exception. I think you will quickly see why – on both counts.

Danish pensions to put $50 billion into green investments [Reuters]

Gender diversity pays off: A new Stanford study finds equitable hiring boosts companies’ stock prices [Business Insider]

Aluminium industry must commit to carbon reductions [Business Insider]

Daughter of Ebony founder resigns from spot on magazine’s board [Chicago Tribune]

At Amazon, workers push climate policy; Bezos sets net-zero carbon emission goals, but employees want more urgent action. [Vox]

General Motors Shares Extend Declines As Nationwide UAW Strike Hits Day Five [The Street]

Recall that the query we use for the daily Zeitgeist is constructed only from news that specifically refers to equity markets and stocks.

We have commented before that ESG specifically tends to follow the fortunes of the market. It usually becomes a cohesive, high attention narrative when times are good and investors feel confident. When markets decline and perceived risk rises, ESG issues tend to fade from investors’ attention. Independent of ESG investing as a topic in itself, however, the politics of climate, inequality and identity that we have shown to be dominant in electoral coverage are becoming similarly prominent in financial markets coverage.

As long-time readers will know, any time coverage of politics and markets intersect so plainly, we strongly recommend taking a step back to ask, “Why am I reading this now?”

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Peter
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Peter

ESG today = “Frontier” Markets of past tops/near tops. Love companies falling all over themselves in craven attempts to be labeled ESG for inclusion in such an index. If everything is ESG, nothing is ESG.

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Mark Nockleby
Member

There’s one headline that seems particularly ridiculous to me (although, gender diversity is fine and good). Oh gawd, am I really going to click on this headline… I click on the headline. I think, “In what kind of lab can you do experiments like that? Oh, the experiments are one dollar bets?”

really? really? one dollar bets like this one? https://www.youtube.com/watch?v=wjkdynBFHuQ

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The Daily Zeitgeist

The Python and the Pig

By Ben Hunt | March 13, 2020 | 2 Comments

The NYC healthcare system – one of the finest in the world – is about to be slammed beyond anything they have ever seen. ER visits and patient testing is where it begins. It moves from there through the system, ending in ICU wards. The process is like a python swallowing a pig, except this isn’t a pig. It’s a whale.

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Tick-Tock

By Ben Hunt | March 12, 2020 | 15 Comments

For the first time our federal government is treating the fight against this virus like the war that it is.

Is it pathetic and sad and a corrupt betrayal of the public trust that it took this long? Absolutely.

But now here we go. And there is no country in the world that mobilizes for war more effectively than the United States.

Read more

The Mozilo Market

By Ben Hunt | February 28, 2020 | 12 Comments

After a Countrywide earnings call in 2008, I trusted NO ONE in government or Wall Street to tell the truth about the mortgage crisis.

And that’s the way I feel about COVID-19 today.

Read more

Kitchen Sink It

By Rusty Guinn | February 20, 2020 | 9 Comments

13+ To receive a free full-text email of The Zeitgeist whenever we publish to the website, please sign up here. You’ll get two or three of these emails every week, and your email will not be shared with anyone. Ever. I have been under withering (if modestly deserved) friendly fire recently for posing a riddle and sitting on …

Read moreKitchen Sink It

Love in the Time of COVID-19

By Ben Hunt | February 17, 2020 | 7 Comments

Within a few months, the reality of COVID-19 will overtake the propaganda of the CCP and their toadies at the World Health Organization, as real-world companies begin making real-world economic decisions to maintain their enterprises in the face of a real-world threat.

Those decisions will be led by sports franchises.

Read more

Options

By Rusty Guinn | February 12, 2020 | 20 Comments

Our social institutions require of us many songs. One of those songs is about the roots of poverty in immorality. If we’re going to stop singing their songs, this may be a good place to start.

Read more

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