by Mish

There were three “major events” and one of them is happening now.

I think there has been three major ”events” in my life..

1.1989 – Berlin Wall
2.2001 – 9-11
3.2017 – The “US Wall”

  • All of them plays into the present political and economic instability.
  • 1989 represented the opening of borders – Globalization Maximus
  • 2001 turned the political agenda inwards and towards surveillance, distrust and closed borders
  • 2017 Is the breaking of established rules, so much that I have done an analogy to the

Nixon Doctrine

1.Took US off the Gold standard – the Nixon Shock

2.Told allies to do more of their own defense – The Nixon Doctrine

RECOMMENDED ARTICLES

3.Nixon had 100% domestic agenda (despite China opening….)

4.The White House bashed Fed constantly so much that Chairman Burns “was forced to move Fed policy against his will…”

5.Where Nixon’s Treasury Secretary John Connally famously told the European at the Rome, 1971, G-7 meeting: “It’s our dollar but your problem”….

Of course Trump is not copying Nixon per se, but with an incoming administration which is at best random on policies, I think it’s worth trying to have a “gauge” on other historic major changes..I think Nixon, his administration and the 1970s is worth a look.

This is an presentation so lot of charts needs the “narrative” – but I think you get the points – and more importantly – I look forward to you all pushing back or adding to this conversation.
Safe travels,
Steen

There’s plenty to think about, and I think Steen is generally correct.

Mike “Mish” Shedlock

Back to the Past: Steen Jakobsen Asks Did Trump Change Anything?

I just received an interesting email from Steen Jakobsen, chief economist and CIO of Saxo Bank.

Steen Jakobsen on the Next 30 Years: “Everything is Deflationary”

Steen Jakobsen, Saxo Bank chief economist and CIO just pinged me with a PowerPoint presentation on the preceding and next 30 years.

Steen Jakobsen on CNN (Clinton News Network), the Soulless Machine, US Constitution

Steen Jakobsen, SAXO Bank CIO and chief economist emails “Dear All, Sorry for late posting, but just returned from Russia.

Steen Jakobsen, Saxo Bank CIO on the UK Election, Pound, Euro

Steen Jakobsen, Saxo Bank Chief Investment Officer, comments on the UK election, the British Pound, and the Euro in a recent email report.

Steen Jakobsen “Trump Increases Odds of US Recession”: 10 Key Points from Bloomberg Video

Steen Jakobsen, Saxo Bank’s chief investment officer, discusses his strategy for investing in global equities and the possibility of a U.S. recession with Bloomberg’s Guy Johnson and Matt Miller on “Bloomberg Markets”.

New Nothingness: Central Banks are Powerless “They Should Go Away” Steen Jakobsen

In a “Trading Floor” interview, Saxo Bank CIO and chief economist Steen Jakobsen, discusses the role of central banks in the global economy with Saxo Bank’s Michael McKenna.

Event Risk and Trump’s Weak Dollar Policy

Saxo Bank CIO and chief economist Steen Jakobsen sees event risks on the near horizon in terms of Trump policies and the US dollar.

Steen Jakobsen Italian Election Forecast: Two Winners

Saxo Bank CIO Steen Jakobsen thinks there will be two winners in tomorrow's election: Five Star and the Northern League.

Steen Jakobsen Explains the Rise of Trump “Social Contract is Broken”

Contrary to popular Republican “wisdom”, Donald Trump can beat Hillary, but Cruz and Kasich likely cannot.