The Globe and Mail reports in its Saturday edition that anyone who listened to the prime-time ramblings of President Donald Trump last week has to wonder where the United States is headed. The Globe's Ian McGugan writes that rarely has a world leader sounded so clueless. Not only did Mr. Trump fail to muster a convincing case for why he launched a war on Iran, he could not explain whether he was doubling down on the conflict or stepping away. His babbling incoherence should make investors nervous. You do not have to be a radical leftist to start thinking about what might transpire if the market's love affair with U.S. equities and bonds begins to falter under the weight of Mr. Trump's incompetence. The U.S. still dominates key areas of technology, it is energy independent and unrivalled in terms of the size of its capital markets. But all those advantages are already reflected in the stock market's sky-high valuations. What does not appear to be built into the market's assumptions are Washington's fraying finances and increasingly erratic leadership. The most immediate danger from the President's antics is stagflation that scarred the 1970s. It may be time to start tilting your bets in the direction of other markets.