On April 2nd, 2025, The Trump Administration announced what they called ‘Liberation Day’ for Americans. Rather than a reference to an occupation from a kinetic war, the White House was referring to liberation from a sociopolitical regime waging an economic war. The announcement focused on a series of tariffs designed to redress serious trade imbalances in manufactured goods with countries around the world, particularly in Asia and Europe. The next morning, almost without hesitation, the US stock markets plummeted, followed by ...
On April 2nd, 2025, The Trump Administration announced what they called ‘Liberation Day’ for Americans. Rather than a reference to an occupation from a kinetic war, the White House was referring to liberation from a sociopolitical regime waging an economic war. The announcement focused on a series of tariffs designed to redress serious trade imbalances in manufactured goods with countries around the world, particularly in Asia and Europe. The next morning, almost without hesitation, the US stock markets plummeted, followed by another drop of over 5% the next day. Almost as quickly, many on the right and people ostensibly aligned with the Trump campaign came out condemning the tariffs, calling them ill founded and poorly executed. Tonight, we are joined by two returning guests and veterans of the financial world - Stormy Waters and Ace Niederhoff - to explain why this perception may be wrong, and explore how after decades of hollowing out of the US industrial base and the knock on effects of unemployment, crime, and broken homes that reversing globalization and free trade in particular may just be what sets the American economy - and more importantly its people - back on a path to prosperity.
-- Brought to you by --
Very special guests:
Stormy Waters
@NormanDodd_knew
and
Ace Niederhoff
@aceniederhoff
with Adam Smith
--
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-- References --
- Jurassic Park, Spielberg (1993)
- American History X, Kaye (1998)
- The Believer, Green (2001)
- Dynamics of Nonlinear Systems, MIT (2003) - https://ocw.mit.edu/courses/6-243j-dynamics-of-nonlinear-systems-fall-2003/
- Another Theory of Corporate Lust for Immigration, Sailer (2012) - https://unz.com/isteve/another-theory-of/
- The Chinese Workers Who Assemble Designer Bags in Tuscany, Max (2018) - https://www.newyorker.com/magazine/2018/04/16/the-chinese-workers-who-assemble-designer-bags-in-tuscany
- Zeihan - After Dark - the Collapse of Globalization, Myth of the 20th Century (2022) - https://myth20c.wordpress.com/2022/10/31/zeihan-after-dark-the-collapse-of-globalization/
- Friedrich List - National System of Political Economy, Myth of the 20th Century (2024) - https://myth20c.wordpress.com/2024/04/07/friedrich-list-national-system-of-political-economy/
- Shadow Banking - with Stormy Waters - After Dark, Myth of the 20th Century (2025) - https://myth20c.wordpress.com/2025/02/10/shadow-banking-with-stormy-waters-after-dark/
- What is Trump's new Liberation Day and what to expect April 2?, Colton (2025) - https://www.foxnews.com/politics/what-liberation-day-what-expect-april-2
- Oaktree's Howard Marks on Credit Yields, Trump's Tariffs, Bloomberg Television (2025) -
- Alternate Gross Domestic Product Chart - https://www.shadowstats.com/alternate_data/gross-domestic-product-charts
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