|Originally published in the January 2011 Socionomist|
On December 8, protesters in Haiti set fires and clashed with U.N. peacekeepers in a show of support for Michel “Sweet Micky” Martelly, a carnival singer who finished third in the nation’s November 28 presidential contest amid allegations of election fraud and voter intimidation.
The rise of “joke” candidates like Martelly is a bear market phenomenon, as noted by Steve Hochberg and Pete Kendall in the November 2010 issue of The Elliott Wave Financial Forecast:
In deep bear markets, the urge for non-traditional candidates rises to the level of the absurd, allowing strippers, comedians and other entertainers to become viable candidates. This is happening in Iceland, where comedian Jon Gnarr was elected to Reykjavic’s city council, and in Brazil, where a clown named Tiririca was elected to Congress with more votes than any other candidate.
Former Haitian First Lady Mirlande Manigat won the recent election. She was credited with 31.4 percent of the vote, followed by Jude Celestin, with 22.5 percent, and Martelly, with 21.8 percent. Many regard Celestin to be an extension of current President Rene Preval’s unpopular administration.■
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