The New Geo-Political Era Of Mercantilism Is Changing EVERYTHING | Michael Every
But Wall Street is being willfully blind to it
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When today's guest was last on this program back in November, he predicted we'd see continued momentum geopolitically away from globalization and towards mercantilism and protectionism.
That has proven to be the case worldwide, and particularly so for the US, where Donald Trump's "America First' agenda has kicked off at warp speed -- shocking citizens, allies and enemies alike with its violent & swift disruption of what was Business As Usual just a month ago.
How is this wave of nationalism around the world likely to impact the global economy?
What are the biggest opportunities it may open up for investors?
And what are its biggest risks?
To discuss, we're fortunate to be able to spend the next hour with Michael Every, Global Strategist at Rabobank, who joins us from Thailand.
Michael warns that VERY few players in the financial markets are currently factoring this new geopolitical playbook into their calculations — because it’s so new and moving so fast that most don’t understand what’s going on.
Also, he is kindly making his latest Rabobank report on this topic available free to Thoughtful Money members. You can access it here.
This is an important one folks. To watch it, click here or on the video below:
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Adam’s Notes: Michael Every (recorded 2.20.25)
EXECUTIVE SUMMARY:
Michael has long predicted globalization would decline in favor of mercantilism and protectionism. That trend is now clearly evident world-wide, perhaps no more so than with Trump’s new administration. The U.S. has already imposed a 25% tariff on Canadian oil and is implementing other measures to re-shore industries. Europe is following suit with the "Clean New Industrial Deal," which includes "Buy European" provisions. Historically, globalization was an anomaly, and this return to economic nationalism is a long-term structural shift.
Investors are struggling to process the pace of geopolitical change, leading to mis-pricing of risks. Market surprises include European defense stocks rising while U.S. defense stocks fall due to proposed 8% cuts to the Pentagon budget. The euro and European stocks have appreciated despite Europe facing economic and geopolitical fragmentation. Many traders are waiting for undeniable proof before adjusting their positions, and this raises the risk of
