Michael is so generous and astute a bringing broad thinking to key issues. A must read and watch. You learn more in a podcast with him than a uni semester unit. 👏👏
One of the best guests you have ever had. This guy really has some unique insights and understanding. The gold take is hard to swallow but makes a lot of sense unless gold goes continues to go up against all currencies.
Brilliant discussion Excellent Analysis Thank you Sir Thanks for having Mike on, great guest I love your work, and I always love listening to you Adam Thank you gentlemen Thank you both
Some takeaways for me: • World shifting from globalism towards a multi-polar, nationalistic/mercantilist direction. • Statecraft: Balances economic, military, and political power as three pillars of grand strategy to achieve national interests. Enjoyed listening to Michael's thoughts.
As a person of Indian origin, thanks Michael for highlighting this @17:00. After years of misinformation that belittled India's contributions to the world, India is trying to come to terms with the truth on colonialism, so we can put it in behind us.
India benefitted enormously. India was not some example of an enlightened, productive economy full of technology that Britain came and stole. You were under Muslim Mughal rule and were primitive (as was most of the world before the industrial revolution). Indians took part in the British Empire and Clive of India was invited to rule Bengal....by Indians. Britain uncovered so much history in India, including the ancient language of Sanskrit. Indians like you are a disgrace to facts. Britain was colonised twice; do we moan now and play the victim card? No! We take what was good about it and make it better. India has the english language, democracy, technology, railways, sports, education, a middle class, civil service, legal system under a common law structure and so much more. Grow up!
I enjoy reading about history, in particular world history. I knew the british occupied india but did not know that it was for hundreds of years. I hope India continues to be one of the worlds great democracies. You went to the moon, Mars next! from Oregon us
If India Really wanted to come to terms with colonialism's brutish effects on India, then use the best of what Britain left and Build back Better than Britain has. Thinking of the train network, transportation infrastructure, resilience from global warming, et al. Britain exploited India terribly. There must be an acknowledgement of this by the royal family and 10 Downing St., absolutely!, and reparochement for 150+ years of abuse.
One of your best interviews. I absolutely need him back on for another talk. 💪🏼 I think he would provide a valuable perspective especially if we see further developments regarding a possible multi-front war scenario which Trumps cabinet picks seem to suggest as highly likely.
Outstanding interview. I think people underestimate the power of norms of rules of human societal interactions and think that just because we live in a time of historical anomaly (post WWII, or post fossil fuels discovery) we have changed as a species. No. These periods are just specs in historic time and we thus eventually revert to our norms, revert to the mean. I wish Michael Every would put this in book form for more thoughtful pursuing of the idea.
Second mistake, British imperial forces did not use indian troops outside of India on a large scale until ww1. Can you imagine how different the american revolution might have been if mass formations of sepoys were deployed?
The argument that national debt is down to trade imbalance is flawed, by far the more concerning contribution is government after government running defecits in public spending rather than limiting themselves to available funds.
He clearly illustrated how the two things are entirely related. The REASON the government HAS TO spend so much - just to keep the ship barely above water - is because of how the last three/four decades of outsourcing/trade imbalance completely hollowed out the middle class, and the economy in general. He also noted that if it weren't for the "luck" of having the tech sector there backfill a lot of that wealth (in a much more unequal and uneven way, but still) then things would have gotten far worse even faster for Americans.
Retaliation against tariff wars imposed among many countries will likely be the 2025 first ringing bell of warning to high inflation, high layoffs, and high debts globally ?
Great conversation but with regards to crypto "go go juice". We are moving into a new world. I think people maybe under estimating the world we are entering. Tech and AI are coming and I have a feeling the impact will be exponential.
Why does he think inflation will go down when the government is running 2+ trillion dollar deficits every year. Where does he think this money is going to come from and how does he think it’s not going to impact M2!?
It's possible...what if they print 2T but the "needed" amount is 3T (due to the trade deficit)? Then you will definitely get job loss and deflation. I see it happening already in and autos and houses in many places.
Trump on Joe Rogan's show said he uses tariffs as a negotiating tool and he often doesn't even need to implement them in order to secure beneficial trade deals. Who in the world could be against this? It works, it's logical, and every leader should be using all available tactics to do the best for their citizens.
Dude, no one actually analyzes this stuff seriously, they just filter it through their political beliefs. I watch this to remind myself that most of the experts are actually complete idiots. You're better off just doing the exact opposite of whatever they say if you want to make money
trumps negotiating style is.....he throughs a grenade in the room then shuts the door .....hes done this multiple times for example.....he threatened europe that america would pull out of NATO......europe ended up paying for more of the NATO defence and Trump got what he wanted ....Peter Theil has stated many time the mistake people make with Trump is that they take Trump literally but not seriously.....but in reality you should take him seriously but not literally
In the early 2000s I remember listening to an economist on cspan, is that around anymore?..., talking about the affects of global outsourcing specifically on the US income per capita vs China income per capita. Essentially as one falls the other rises until we reach some equilibrium. And this would play out over the next 20 yrs. I remember thinking that's most of my productive employment years! For the next 20+ yrs I've worked for multi-national companies and watched, participated and profited from "right-sourcing/outsourcing" while I witnessed the hollowing out of the manufacturing and consumer electronics sectors in the US. I'm not at all anti trade but we've seen how the trillions made over that time period have not been distributed fairly. There's been a significant amount of finger pointing at politicians but corporate leaders are as much to blame. Politicians from both parties have enabled them. I'm in complete agreement that drastic changes are needed and would support much of what the Trump administration is proposing but I'd be stunned if we could make significant changes even in 4 yrs. What's to prevent companies moving to the next "cheaper than the US" alternative after China?
What are your thoughts of using free trailing stop losses rather than paying for put options? Are there situations where one method is more advantageous than the other? I really appreciate learning from your podcasts. Thanks so much.
Basically, you get what you pay for. Puts have a premium, but stops can cost you more money at the end of the day. 1. Puts allow you to remain invested, knowing you’re insured, and capture a stock’s bounce back before the put’s strike date. Whereas, Trailing Stops will make you miss a bounce back unless you reinvest. 2. A stock’s price can go down so rapidly that your entire position may not sell at the stop price. Whereas the strike price on a put confers dependable coverage . 3. Stops are unforgiving. A sell order is activated the moment the stop price is breached. Even if the price immediately recovers. By the time you realize this momentary breach resulted in a full sell off of your position, you may have to buy back the stock at a higher price, if you still want to own it. 4. Given the above, a put can confer a smart, secure way to own more of a stock than you otherwise would. You hope to “lose your premium,” ie, not make a claim, just like you do with homeowners, life, car, or any other insurance policy. The above is not financial advice. It’s just how I envision the difference.
We totally understand it's going to be America First. But can we just say: The Netherlands Second? Thank you and best wishes. We've got the best wishes in The Netherlands. The're great. It's true.
If this wasn't the most important discussion on all of TH-cam today (or all month, or all year) then I don't know what was. He even said the quiet part out loud about what World War 2 was REALLY about.
Looking at China cost effeciency structure: they dont have a welfare problem, no illegals to care for, they dont have pulic unions milking property taxes, the govt is not in the mortgage business to inflate housing, they got huge stem engineers talent, first class infrastructue,, medical costs is miniscule, they dominate the metal commodities mining, control ports all over the world, high saving rate, the govt have huge reserve gold & US dollars, finallythey not looking for war. US govt advantage is the dollar, oil, LNG....and SpaceX. If china can get their hand on ASML then they can beat anyone in semiconductors.
He talks as though advocating for this. He talks about how usa got rid of the uk empire to establish a stable system. What? USA is the new empire, causing the same problems. Does he really think this is optimal for the planet??
The guy talked about the British Empire undone by the US. That was the precise reason why Hitler offered peace to Britain at Dunkirk. Hitler wrongly believed that Britain would desire to keep her empire, and that the only way for Britain to achieve that was to accept the peace he was proposing. Of course, he underestimated Churchill , the half American who worked on the half of Wall Street at the time. When the war was over, the British Empire was no more. In other words, Churchill was the real war criminal of WW2.
Apart from the "i was the one who invented all the quotes' part found it interesting with one major flaw, it stipulates all other countries will simply tollerate and not retaliate. There are plenty of other markets out there in the world.
Greetings from Perth, Australia. Excellent interview. The best that I have ever viewed on Thoughtful Money in fact.I would like to hear Michael's additional thoughts on the Euro dollar market. It has occurred to me for some time that it is edging inexorably towards implosion. Will the time come at midnight one day in the future when European banks have no alternative but to, in unison, cut adrift the subsidiaries that hold that exposure?
Great to hear someone else ask “what is GDP for?” I’ve pointed out that GDP is just a measure of spending used as a proxy for economic activity, but it makes an enormous difference what is being built. Is GDP growth improving basic standards of living with consumer goods, services and useful infrastructure or is it mainly reflecting investments in ghost housing or wasteful government projects?
Game of Thrones and A Tale of Two Cities could describe life moving forward? I suppose a good salesman could sell shared sacrifice but buyer beware. Appreciate the insight.
Fantastic session. Thank you., will be sharing this to all the hand wringers who, like me, are dreading 4 more years of Trump. If someone can just control the nutjobs, maybe there is hope, I have no idea who that might be. But great discussion. Last thing we need is to be "entrenched" in our thinking. We can't continue to live in a post WW2 world.❤❤❤
Interesting interview. However can't help wondering the insect of mercantilism on complex supply chains. Bring back essential and high end manufacturing only and leave the widgets to China.
US trade deficits are funded by capital flow surpluses, which support US equities and US treasuries. So will US financial assets suffer when capital flows reverse, while the trade deficit narrows?
I can't really follow Adam much anymore, all of his guests defend the status quo and look at the economic situation from the top down. Yes he pays lip service to the suffering of the lower and middle classes, and so do his guests "yes it's very bad for anyone who isn't in the top 1%" but all of his guests solutions often subscribe to the idea that we should maintain the status quo.... Consequence of going to an ivy League school, being a corporate executive, and surrounding yourself with all the economists that brought us to this point (Lacey Hunt, Laffer, etc)
I'm 38 under globalization all ive seen are jobs go overseas. Regulations, taxes, and inflation go up and a never ending tsunami of immigration deflating my wages and sending the cost of living through the roof. While being told the entire time I'm the problem deal with it. Except under Trump. For those 4 short years my life finally started to improve. It has been utterly miserable under Biden.
yes it's obvious to anyone paying attention that globalist policies just hurt the working class and help the rich through asset appreciation. finally there is hope again for regular people.
I don’t know about mobile, but my purchasing power went up. My taxes went down, I invested in two additional business, purchased a second home, gas was always lower, I miss those years. I’m so glad over 50% of the voters missed those years as much as I have!
Its protecting you from your debasing currency. It's a potential life raft. Its may correlate with the market short term as it goes through its adoption phase. Stability will come in the longer term, once people understand it.
I think the interviewee assumes too much in the motivation and strategic thinking of Trumpism. It is well documented that Trump cares very little for policy. He says whatever a crowd wants to hear.
My game theory is you cannot design a game system whose rules cannot be exploited, coerced or corrupted over time, so you implement a new fairer system and entropy resets. And so the pendulum swings from neoliberal to nationist model again. I won't shed a tear for the multinationals whom like the East India Trading co, (blackrock, pziffer) once held sway over the sovereign British crown will be reigned in this part the cycle.
This guy has it completely backwards. The economy isn’t contained within the nation-state, nation-states are contained within the economy. The economy is simply human interaction writ large, hence EVERYTHING is contained within the economy. Nation-states are simply an organizational unit (imposed by the tyranny of place) that imposes artificial limits on freedom of association aka free trade. It’s true that the pendulum will now swing away from globalism and towards protectionism, but the root problem isn’t globalization/free trade, it’s that in a hyper-connected world the nation-state is fast approaching its expiration date.
GET THE FREE 18-POINT END-OF-YEAR PLANING CHECKLIST at thoughtfulmoney.substack.com/
Ruchir Sharma!!! Would make a Compelling guest. And has new book out.
So what's Michael's X account?
Would like to see you interview Gary Stevenson author of trading game.
What is Michael’s X account?
Michael is excellent guest. I saw him on the milkshakes podcast and since then I've watched every interview with him that pops up on my feed.
Michael is so generous and astute a bringing broad thinking to key issues. A must read and watch. You learn more in a podcast with him than a uni semester unit. 👏👏
One of the best guests you have ever had. This guy really has some unique insights and understanding. The gold take is hard to swallow but makes a lot of sense unless gold goes continues to go up against all currencies.
this guy is so good to listen to
Worth watching twice.
Excellent and timely discussion Adam. Thanks for getting Michael to share his thoughts
Best guest - great interview. Thank you.
Best of times or worst of times, Michael brings insights Every time! Thanks guys
Its good to see Michael Every. Please bring him back more often. Michael Every is the authority on international finance.
Interesting discussion today. Thank you, Adam and Michael.
Brilliant discussion
Excellent Analysis
Thank you Sir
Thanks for having Mike on, great guest
I love your work, and I always love listening to you Adam
Thank you gentlemen
Thank you both
Such an important guest. Such an important voice. Thank you for that Mr. Taggart.
Some takeaways for me:
• World shifting from globalism towards a multi-polar, nationalistic/mercantilist direction.
• Statecraft: Balances economic, military, and political power as three pillars of grand strategy to achieve national interests.
Enjoyed listening to Michael's thoughts.
I always look forward to your interviews with Michael Every. Great content as always. Thanks, Adam and Michael.
As a person of Indian origin, thanks Michael for highlighting this @17:00. After years of misinformation that belittled India's contributions to the world, India is trying to come to terms with the truth on colonialism, so we can put it in behind us.
India benefitted enormously. India was not some example of an enlightened, productive economy full of technology that Britain came and stole. You were under Muslim Mughal rule and were primitive (as was most of the world before the industrial revolution). Indians took part in the British Empire and Clive of India was invited to rule Bengal....by Indians. Britain uncovered so much history in India, including the ancient language of Sanskrit. Indians like you are a disgrace to facts. Britain was colonised twice; do we moan now and play the victim card? No! We take what was good about it and make it better. India has the english language, democracy, technology, railways, sports, education, a middle class, civil service, legal system under a common law structure and so much more. Grow up!
I enjoy reading about history, in particular world history. I knew the british occupied india but did not know that it was for hundreds of years. I hope India continues to be one of the worlds great democracies. You went to the moon, Mars next! from Oregon us
@@FloydThePink Thank you Sir. 🙏
Part 2 PLEASE!
If India Really wanted to come to terms with colonialism's brutish effects on India, then use the best of what Britain left and Build back Better than Britain has. Thinking of the train network, transportation infrastructure, resilience from global warming, et al. Britain exploited India terribly. There must be an acknowledgement of this by the royal family and 10 Downing St., absolutely!, and reparochement for 150+ years of abuse.
Been waiting for another Michael interview he's very insightful
Thanks Adam
That was fascinating! Thank you so much.
Michael is a great guest! Always enjoy his interviews!
Awesome guest!
Great guest Mr T. Nice to have one who agree with me for a change.
Needs teaching in school.
Amazing conversation with Michael. Thanks for having him on!
Really enjoyed this conversation 👍
One of your best interviews. I absolutely need him back on for another talk. 💪🏼 I think he would provide a valuable perspective especially if we see further developments regarding a possible multi-front war scenario which Trumps cabinet picks seem to suggest as highly likely.
Yes unfortunately giving Ukraine longrange missles as a middle-finger to the voting public is going to escalate the conflict.
What a fascinating discussion. Captivating, informative, and enjoyable. Thank you, Adam and Michael.
Glad you enjoyed it!
Just about to head out into the garden and now I'll have excellent company in my labors.
Every is the best. He did post on Zero Hedge daily, but not anymore, only once in a while. I miss reading him every day. Thanks for having him on!
Great, I was allready wandering when Michael Every would be on your show again!
Michael provided great information!
Thank you Adam❤🎉!
michael every is a terrific guest. get him back soon.
This is one of best interviews Adam ! Wow. Pls have him back
Best I've seen..please come
Great interview!
This is so interesting!
Outstanding interview. I think people underestimate the power of norms of rules of human societal interactions and think that just because we live in a time of historical anomaly (post WWII, or post fossil fuels discovery) we have changed as a species. No. These periods are just specs in historic time and we thus eventually revert to our norms, revert to the mean. I wish Michael Every would put this in book form for more thoughtful pursuing of the idea.
Second mistake, British imperial forces did not use indian troops outside of India on a large scale until ww1. Can you imagine how different the american revolution might have been if mass formations of sepoys were deployed?
Briliant!
I love Every and I disagree with a lot of his big picture stuff, but I love to hear from him!
Thank you Michael and Adam.
Excellent
Love your sound and visual at the beginning, should listen to it before bed😂 to relax
The Art of the Deal!
😂😂
great video Adam, as usual
The argument that national debt is down to trade imbalance is flawed, by far the more concerning contribution is government after government running defecits in public spending rather than limiting themselves to available funds.
Yes, feels like he has a theory and cherry picks facts that he thinks supports that theory. A very common approach unfortunately.
He clearly illustrated how the two things are entirely related. The REASON the government HAS TO spend so much - just to keep the ship barely above water - is because of how the last three/four decades of outsourcing/trade imbalance completely hollowed out the middle class, and the economy in general. He also noted that if it weren't for the "luck" of having the tech sector there backfill a lot of that wealth (in a much more unequal and uneven way, but still) then things would have gotten far worse even faster for Americans.
Great interview.
Thoroughly enjoyed it.
Thanks for sharing today. Sharing post immediately
Thankyou !
Saw him on Nate Hagens channel , there are some good people who think of the big picture
Great show and I loved the follow-up.
This guy could write a book-if he hasn’t already.
Retaliation against tariff wars imposed among many countries will likely be the 2025 first ringing bell of warning to high inflation, high layoffs, and high debts globally ?
Great conversation but with regards to crypto "go go juice". We are moving into a new world. I think people maybe under estimating the world we are entering. Tech and AI are coming and I have a feeling the impact will be exponential.
I’m surprised the view count is low. It’s an interesting topic.
Solid interview and post recap.
Why does he think inflation will go down when the government is running 2+ trillion dollar deficits every year. Where does he think this money is going to come from and how does he think it’s not going to impact M2!?
It's possible...what if they print 2T but the "needed" amount is 3T (due to the trade deficit)? Then you will definitely get job loss and deflation. I see it happening already in and autos and houses in many places.
Trump on Joe Rogan's show said he uses tariffs as a negotiating tool and he often doesn't even need to implement them in order to secure beneficial trade deals. Who in the world could be against this? It works, it's logical, and every leader should be using all available tactics to do the best for their citizens.
Dude, no one actually analyzes this stuff seriously, they just filter it through their political beliefs. I watch this to remind myself that most of the experts are actually complete idiots. You're better off just doing the exact opposite of whatever they say if you want to make money
I thought Trump wanted to use the revenue of the tariffs to cut the income tax? How else is he planning to finance that?
trumps negotiating style is.....he throughs a grenade in the room then shuts the door .....hes done this multiple times for example.....he threatened europe that america would pull out of NATO......europe ended up paying for more of the NATO defence and Trump got what he wanted ....Peter Theil has stated many time the mistake people make with Trump is that they take Trump literally but not seriously.....but in reality you should take him seriously but not literally
Sure but if it's a negotiating tool and he is broadcasting it without following through, leaders will know this and call his bluff
Didn't work the first time
I like Michael but US has to debase their currency. Otherwise debt burden will be enormous
17:00 wow, an honest brit, how refreshing...
In the early 2000s I remember listening to an economist on cspan, is that around anymore?..., talking about the affects of global outsourcing specifically on the US income per capita vs China income per capita. Essentially as one falls the other rises until we reach some equilibrium. And this would play out over the next 20 yrs. I remember thinking that's most of my productive employment years! For the next 20+ yrs I've worked for multi-national companies and watched, participated and profited from "right-sourcing/outsourcing" while I witnessed the hollowing out of the manufacturing and consumer electronics sectors in the US. I'm not at all anti trade but we've seen how the trillions made over that time period have not been distributed fairly. There's been a significant amount of finger pointing at politicians but corporate leaders are as much to blame. Politicians from both parties have enabled them. I'm in complete agreement that drastic changes are needed and would support much of what the Trump administration is proposing but I'd be stunned if we could make significant changes even in 4 yrs. What's to prevent companies moving to the next "cheaper than the US" alternative after China?
What are your thoughts of using free trailing stop losses rather than paying for put options? Are there situations where one method is more advantageous than the other? I really appreciate learning from your podcasts. Thanks so much.
Basically, you get what you pay for. Puts have a premium, but stops can cost you more money at the end of the day.
1. Puts allow you to remain invested, knowing you’re insured, and capture a stock’s bounce back before the put’s strike date. Whereas, Trailing Stops will make you miss a bounce back unless you reinvest.
2. A stock’s price can go down so rapidly that your entire position may not sell at the stop price. Whereas the strike price on a put confers dependable coverage .
3. Stops are unforgiving. A sell order is activated the moment the stop price is breached. Even if the price immediately recovers.
By the time you realize this momentary breach resulted in a full sell off of your position, you may have to buy back the stock at a higher price, if you still want to own it.
4. Given the above, a put can confer a smart, secure way to own more of a stock than you otherwise would. You hope to “lose your premium,” ie, not make a claim, just like you do with homeowners, life, car, or any other insurance policy.
The above is not financial advice. It’s just how I envision the difference.
We totally understand it's going to be America First. But can we just say: The Netherlands Second? Thank you and best wishes. We've got the best wishes in The Netherlands. The're great. It's true.
If this wasn't the most important discussion on all of TH-cam today (or all month, or all year) then I don't know what was. He even said the quiet part out loud about what World War 2 was REALLY about.
Looking at China cost effeciency structure: they dont have a welfare problem, no illegals to care for, they dont have pulic unions milking property taxes, the govt is not in the mortgage business to inflate housing, they got huge stem engineers talent, first class infrastructue,, medical costs is miniscule, they dominate the metal commodities mining, control ports all over the world, high saving rate, the govt have huge reserve gold & US dollars, finallythey not looking for war. US govt advantage is the dollar, oil, LNG....and SpaceX. If china can get their hand on ASML then they can beat anyone in semiconductors.
My coffee input costs went up 6% this year
That actually sounds low. Consumers are paying almost 50% more for coffee than 4 years ago.
He talks as though advocating for this. He talks about how usa got rid of the uk empire to establish a stable system. What? USA is the new empire, causing the same problems. Does he really think this is optimal for the planet??
There you are Adam. Ive been asking on Wealthion
The problem with economic pundits is they think in bivariable x/y graphs.
Mike said that with 1992, there was no longer any empires - of course he's wrong - we had the American Empire.
Been watching you for over a year Brian, you are such a decent altruistic thinking man ! Comforting ❤🇨🇦
The guy talked about the British Empire undone by the US. That was the precise reason why Hitler offered peace to Britain at Dunkirk. Hitler wrongly believed that Britain would desire to keep her empire, and that the only way for Britain to achieve that was to accept the peace he was proposing. Of course, he underestimated Churchill , the half American who worked on the half of Wall Street at the time. When the war was over, the British Empire was no more. In other words, Churchill was the real war criminal of WW2.
wonderful review. can you please bring dad hunter back and ask if gold and silver will rise before recession please?
since 1970, USA had a defacto anti-mercantilist strategy. Look at the trade deficit!
Pograms is the answer.
Your guest is wrong because "profit" is for the 1% and the debt is for the 99%. This is not a game of nations anymore. Not for a long time.
Apart from the "i was the one who invented all the quotes' part found it interesting with one major flaw, it stipulates all other countries will simply tollerate and not retaliate. There are plenty of other markets out there in the world.
Greetings from Perth, Australia. Excellent interview. The best that I have ever viewed on Thoughtful Money in fact.I would like to hear Michael's additional thoughts on the Euro dollar market. It has occurred to me for some time that it is edging inexorably towards implosion. Will the time come at midnight one day in the future when European banks have no alternative but to, in unison, cut adrift the subsidiaries that hold that exposure?
Princes of Yen is a book related to this man's thesis. Worth a read. @Adam - see if you can get Richard Werner on!!!
Great to hear someone else ask “what is GDP for?”
I’ve pointed out that GDP is just a measure of spending used as a proxy for economic activity, but it makes an enormous difference what is being built.
Is GDP growth improving basic standards of living with consumer goods, services and useful infrastructure or is it mainly reflecting investments in ghost housing or wasteful government projects?
Game of Thrones and A Tale of Two Cities could describe life moving forward? I suppose a good salesman could sell shared sacrifice but buyer beware.
Appreciate the insight.
Companies simply can't just move production to the US. You have to respect the suply chain. For most of companies, moving to the US is impossible.
🔥
U-tube community guidelines….. don’t piss off the neo-cons
The offshoring that happened in this country is a result of corporations seeking lower costs to improve pofits and quarterly dividends.
Fantastic session. Thank you., will be sharing this to all the hand wringers who, like me, are dreading 4 more years of Trump. If someone can just control the nutjobs, maybe there is hope, I have no idea who that might be. But great discussion. Last thing we need is to be "entrenched" in our thinking. We can't continue to live in a post WW2 world.❤❤❤
What if you are the nut job 😮?
Interesting interview. However can't help wondering the insect of mercantilism on complex supply chains. Bring back essential and high end manufacturing only and leave the widgets to China.
Eight billion views. Every day someone is right and someone is wrong. I just want to be on the right side.
real macro guys!
So in other words a New British style Empire system based on trade with friends and Tariffs for not friends. 😮😮😮
US trade deficits are funded by capital flow surpluses, which support US equities and US treasuries. So will US financial assets suffer when capital flows reverse, while the trade deficit narrows?
America took over the franchise from Great Britain, this is so true
I agree
I can't really follow Adam much anymore, all of his guests defend the status quo and look at the economic situation from the top down.
Yes he pays lip service to the suffering of the lower and middle classes, and so do his guests "yes it's very bad for anyone who isn't in the top 1%" but all of his guests solutions often subscribe to the idea that we should maintain the status quo....
Consequence of going to an ivy League school, being a corporate executive, and surrounding yourself with all the economists that brought us to this point (Lacey Hunt, Laffer, etc)
I'm 38 under globalization all ive seen are jobs go overseas. Regulations, taxes, and inflation go up and a never ending tsunami of immigration deflating my wages and sending the cost of living through the roof. While being told the entire time I'm the problem deal with it. Except under Trump. For those 4 short years my life finally started to improve. It has been utterly miserable under Biden.
yes it's obvious to anyone paying attention that globalist policies just hurt the working class and help the rich through asset appreciation. finally there is hope again for regular people.
In what way did your life improve under Trump?
@sudo2998 that's easy. I made money
@@sudo2998 Don't ask him that.
I don’t know about mobile, but my purchasing power went up. My taxes went down, I invested in two additional business, purchased a second home, gas was always lower, I miss those years. I’m so glad over 50% of the voters missed those years as much as I have!
Bitcoin has gone up hand-in-hand with the market. I'm betting it will do the opposite as well.
Its protecting you from your debasing currency. It's a potential life raft. Its may correlate with the market short term as it goes through its adoption phase. Stability will come in the longer term, once people understand it.
Like a Technocratic/Transhumanist nightmare if they have their way
I think the interviewee assumes too much in the motivation and strategic thinking of Trumpism. It is well documented that Trump cares very little for policy. He says whatever a crowd wants to hear.
Before I watch, I'll tell you one thing. The government will at least be able to tell you what a woman is.
Yes that is definitely a plus. But let's see what happens with women's access to abortion
My game theory is you cannot design a game system whose rules cannot be exploited, coerced or corrupted over time, so you implement a new fairer system and entropy resets. And so the pendulum swings from neoliberal to nationist model again. I won't shed a tear for the multinationals whom like the East India Trading co, (blackrock, pziffer) once held sway over the sovereign British crown will be reigned in this part the cycle.
This guy has it completely backwards. The economy isn’t contained within the nation-state, nation-states are contained within the economy. The economy is simply human interaction writ large, hence EVERYTHING is contained within the economy. Nation-states are simply an organizational unit (imposed by the tyranny of place) that imposes artificial limits on freedom of association aka free trade. It’s true that the pendulum will now swing away from globalism and towards protectionism, but the root problem isn’t globalization/free trade, it’s that in a hyper-connected world the nation-state is fast approaching its expiration date.
Ask Elon about that, why do you think he's made DJT his best buddy ?