Good morning. Follow along transcript attached
This is what Globalism dying sounds like.
We are seeing increasingly vocal pushback against Powell’s policies from non-American economists. The first of which was Micheal Every, who we read actively via his ZeroHedge posts and noted several times i nthis space his growing concern for the end of neo-liberalism and the return of a more Mercantilist world.
Recall from Neo-Liberalism is Dying
Our real problem is [ ] not just about inflation or rates, which are just painful symptoms, but rather a paradigmatic failure across the political-economy. The more we only write about inflation and rates, the deeper the hole we dig.
-Michael Every
We thought then, and continue to think Neo-Liberalist policies, and those who benefit from the concurrent global trade it affords most are feeling the pain of de-globalization for sure.
Simply put, the pinch of shrinking supply chains, and the financial deleveraging associated with our global collateral crisis, is being felt by those with the least ability to self-sustain economically.
…Now comes a second UK economist with a slightly sharper axe to grind.
