The only implied point of agreement I have with Dub's linked article relates to the risk of sovereign debt default bringing down the house of cards.
Powell chairs the Fed, not Draghi. The Fed increased interest rates ….. and up the USD goes. Simple.
My guess is that the ECB has its hands tied for now. There is a PIGITS issue that currently inhibits ECB tightening.
All4One I have no real idea what drives the local market up or down but it isn't logic. In the absence of logic the ASX has a tendency to simply trail US developments. I would have thought that tightening US fiscal policy should have a negative impact on local doings but I'm obviously wrong.
It's silly to blame any current incumbent for the current state of so-called emerging markets (a term based on both ignorance and arrogance). The mess is 20+ years in the making.
