“Globalization Is Turning In On Itself And It Is Each Man For Himself” | Zero Hedge.
At The Margin
A few things are also appearing on my radar screen – future visions if you like – that I want to share with you. These are not conclusive, but rather a stream of unfiltered thoughts, which will develop over time.
I virtually never use geopolitics to assess asset markets. I have learned the hard way over time that it is the way to the poor house. Economies run financial markets, not wars.
But I do note that at the margin, the world’s geopolitics is changing. Gone are the fluffy days of Putin shaking hands with George Bush agreeing to keep the world supplied with oil, gone are the days of China helping US firms make profits using their cheap labour, gone are open-for-business days of Europe, gone is the Japanese military neutrality, gone are the Saudis as an unshakeable ally, gone is Israel also a steadfast ally, etc.
What is happening is something deeply concerning. Globalisation is turning in on itself and it is each man for himself.
This was always going to be the outcome of an imbalanced, debt-drowning world. Everyone wants a cheap currency and since that doesn’t work then everyone wants to find some way to get the upper hand on their own terms.
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