Against the backdrop of institutional vandalism in the US, the optimism of the world's equity markets in the early weeks of the Trump presidency is remarkable. It is one thing to acknowledge that deficit-funded spending to upgrade America's aged infrastructure will bring benefits, both short and long term. But this hardly outweighs the potential for dislocation and damage that the Trump insurgency brings.
It has the feeling of Mao Zedong's infamous 100 Flowers Campaign - "Let 100 flowers blossom, let 100 schools of thought contend" - urged the murderous maniac Mao. The Trump version runs more along the lines of "let 100 Republicans, specially selected for the blatant incompatibility of their views, sit in government where they'll squabble bitterly and I'll pick the winner". As a recipe for divide and rule - while thrilling his constituency - Mr Trump's tactic could hardly be bettered. As a way to disrupt the smooth running of the world's most powerful stabilising force, it is deeply worrying.