Speaking as a guy who is looking forward to chaos, i.e. – market chaos, political chaos, etc., this video warms my heart:
President Trump, who I still refer to as “Drumpf” thanks to my Google Chrome Browser extension provided by John Oliver (see link) is setting the world on fire with isolationist thoughts and actions.
The last time we had an overvalued stock market peak simultaneously mixed with protectionist/isolationist actions was 1930. The stock market had just peaked and began a slide into losing greater than 89% off that peak, and while the stock market was making its way into the abyss two senators sponsored a bill that would ensure economic destruction, the Smoot-Hawley Tariff Act. Without asking you to take an economics lesson, here is the first line of that webpage:
The act raised U.S. tariffs on over 20,000 imported goods.
Sound or look familiar to you? It should. President Trump wants to impose tariffs on imported goods, to “protect” American jobs.
I haven’t seen this movie before because it happened way, way before I was born, but I’ve read about it several times over my adult lifetime. I remember discussing the impending real estate collapse with my Dad (circa 2006), who cut his teeth in the real estate business in the 1960s, and at that time he had this to say:
I’ve never seen real estate prices collapse on a nationwide basis, therefore neither have you. But when I got into the business I worked with people who had seen real estate prices collapse nationwide; it was during the depression. It will happen again.
Credit to my Dad; it did happen again.
I never thought I would see protectionism/isolationism in my lifetime. I thought we had advanced well beyond that failed economic policy several decades ago. I can hardly wait to see how this plays out.
Good luck with your protectionism.