Russian revolutionary leader Vladimir Lenin argued the highest stage of capitalism is imperialism, so, in his view, capitalism is inherently un-democratic. It was pleasing to see Australia’s share market prove Lenin wrong today, responding positively to the ousting of the Egyptian dictator Mubarak (as noted by IG Markets’s Cameron Peacock):

The local share market has closed at a 10-month high after mass protests in Egypt ended at the weekend and boosted sentiment on global markets.

The All Ordinaries index jumped 53 points to 5,023, while the ASX 200 index added 55 points to 4,936 as investors took on more risk.

IG Markets analyst Cameron Peacock says it is amazing what positive sentiment can do for the market.

“Oust a dictator and you have your catalyst. Even though the Egyptian situation was never really going to derail the positive sentiment surrounding the global recovery, it’s one less thing for the bears and naysayers to point to,” he said.

Sourced from the ABC News report: Optimism lifts market to 10-month high