The tempo of the news, much of it deeply disturbing, has become almost unbearable. And yet, U.S. stocks are at record highs, blithely ignoring not only the effects of a too-strong dollar on the profits of U.S. multinationals, but the embarrassing dithering of a U.S. president who seems not to understand that the geopolitical world is close to spinning out of control, arguably because he has been out to lunch since he took office.
