The 1970s Never Ended

by John Mauldin Big economic storms are rare and usually end quickly, but they tend to have long-lasting effects. Today I want to talk about a storm 50 years ago

WHY TRADE WARS? Back in the 1970s…

  1/Americans get addicted to #consumption 2/#Manufacturing goes overseas for cheap #labor/trade deals 3/The US imports cheap goods in exchange for #dollars (creates deficit) 4/Foreign countries take excess dollars &