Major forces with big implications for the U.S. are starting to take shape.
And Harry sees that shape as something awfully similar to what came about back in the 1920s.
Between the political push on immigration and the tariffs that have been imposed…
Back in 1924, Congress passed the Johnson-Reed Act. It limited the number of immigrants allowed into the U.S. by establishing a quota. Once the quota was hit, none were allowed in.
And, before that, to help slow the number of incoming immigrants, Congress established literacy tests, among other barriers to entry, which required immigrants to demonstrate a certain level of proficiency before gaining passage through our borders.
The Smoot-Hawley Act was the cherry on top of already high tariffs, which then sparked trade wars.
It was a reaction to increased protection for declining prices due to overproduction.
As a result, the U.S. was viewed as “isolationist”… all for the sake of keeping the economy strong and healthy.
And, now, Trump has dipped his toes in both pools, all for the sake of strengthening the economy.
But both of those instances of American protectionism were predicates for Black Tuesday and the Great Depression. It was pushback against the natural cycle of any economy.
Now, there is growing divergence between “Main Street” in the U.S. and an increasingly globalized economy. The ground below is stretching thin.
Eventually, all things fall through. And with the foundation weakening, economies, too, will fall.
But it doesn’t have to be all bad…
In the video below, Harry reacts to the current trends and happenings in our markets, economy, politics, putting it all in context of globalization.
He touches briefly about our Irrational Economic Summit, where he and numerous other brilliant minds will be speaking about just those trends and happenings and much more.
And he touches on trends yet to come, too…
Click here, or the video below, to hear what Harry has to say.