The Rise of Patriotic Capitalism

Published on
27 November, 2018
Topic
Geopolitics, Financial System, Macro
Duration
33 minutes
Asset class
Equities, Bonds/Rates/Credit

The Rise of Patriotic Capitalism

Featuring Dee Smith, Peter Atwater, Professor Edward Goldberg

The growth of global supply chains and its benefits for consumers has stalled and may have gone into reverse as geopolitical tensions rise. In this episode of “The Exchange,” Dee Smith of Strategic Insights Group, Peter Atwater of Financial Insyghts LLC and Professor Edward Goldberg of the NYU Center for Global Affairs debate whether we have witnessed a peak in global interconnectivity and are now turning inwards toward domestic supply chains and the rise of patriotic capitalism. Filmed on October 30, 2018 in New York.

Published on
27 November, 2018
Topic
Geopolitics, Financial System, Macro
Duration
33 minutes
Asset class
Equities, Bonds/Rates/Credit
Rating
105
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Comments

  • F

    Floyd .

    4 12 2018 23:34

    0       0

    Much could be said about this video but I will stick to the urban/rural discussion. I spend time in both. The old generalizations and stereotypical comments reflect more the speakers biases and isolation than what is the true reality. To the contrary I find some of the poorest educated and socially challenged people in the cities.

  • JL

    John L.

    4 12 2018 02:15

    0       0

    anyone that quotes Paul Krugman is not worth watching....

  • SS

    Sean S.

    1 12 2018 04:59

    0       0

    Food looks good

  • CC

    Chris C.

    30 11 2018 10:26

    0       0

    Had to turn these clowns off. Academia is so enamored with itself it can’t see the trees through the forest. These guys are no different. And clearly the lack of EVER running their own business shows. Exporting production from Western countries to the cheapest labor markets around the world has CRUSHED Western cities, communities, states etc. Don’t think so? Ask the mayors and former mayors of Detroit, Cleveland, Allentown, London and cities all over Europe. Yea, let’s play business as usual with China who steals anywhere from $200-600 BILLION per year in intellectual property alone from just the US! More from Europe and others.

  • SL

    Steven L.

    29 11 2018 18:54

    1       2

    I wish Pippa Malmgren were picking the guests and doing the interviews for this series. I know she's probably too busy but the content would be 1,000 times more interesting and useful. This piece reminds me of the talking heads on MSM.

  • SW

    Steven W.

    29 11 2018 13:46

    3       0

    The example regarding Britain moving its food supply to the most efficient area is a poor one. The decision to outsource their food supply nearly destroyed the country during WWII and represented a major weakness that the Nazi's exploited. They had to, during wartime, impose extreme rationing and till up and plant every usable acre on the island to produce food to feed themselves while fighting the war.

    Second, the idea that interconnectedness provides geopolitical stability is also a very old argument. The Guns of August points out that the pre-WWI the common thinking of the time was that the large European wars were over because it would be irrational to go to war against one's trading partners. Cue back-to-back world wars.

    I think it is more correct that interconnectedness during good economic times (time of plenty) results in stability, but when instability rears its head, either politically or as a result of reduced energy or raw material access or even the normal debt cycle that interconnectedness, from the standpoint of an individual country, is an extreme vulnerability.

    Also, please tell me someone takes all that food home and eats it. Drives me nuts watching the Exchange and the food looks barely picked at.

  • MZ

    Martin Z.

    29 11 2018 06:41

    0       0

    Starting out with yet another dire warning about the economic (read military) threat from China - including one from no less than the U.S. military itself - which seem to be coming on almost a daily basis these days, I was prepared for a half hour of mainstream propaganda, intellectual rambling, and academic posturing. Apart from Grant Williams' terrific interviews, this is my favorite series on RV, but I can't say my worst expectations weren't met.....And why did I feel like I was watching an early-career Woody Allen movie? ; - )

  • BB

    Benjamin B.

    28 11 2018 20:13

    4       0

    I'm not sure they had enough food...

  • IF

    Ian F.

    28 11 2018 18:23

    3       0

    Ricardo didn't say manufacturing is done in the most efficient (most profitable) place. The theory of comparative advantage stated its done where is the lowest opportunity cost. Professor if you're going to quote outdated clearly bunk theories at least quote them correctly.

  • BY

    Bowie Y.

    28 11 2018 13:51

    6       0

    I enjoyed the exchange.

    Always great to have people from different end of the spectrum to discuss about different stuff in the world.
    I can see a lot of your customer do not like this video, but I do think it's a great variation on the existing program.
    Hopefully realvision does not end up being an echo chamber like MSM or Zerohedge.

  • AC

    Andrew C.

    28 11 2018 10:22

    2       1

    When I see discussions like this, I recall
    It's Difficult to Make Predictions, Especially About the Future.
    These rambling predictions are directionless and next-to-useless

  • SF

    Simon F.

    28 11 2018 08:20

    5       0

    The best of RV gives us clear views expressed coherently and with enough time to see whether they stand up to scrutiny. This is what the mainstream media doesn’t or can’t do. It is a truly valuable and important contribution to a world of noise, sound bite, and hidden agendas. Sadly, this was an incoherent ramble that never got further than repeating various snippets of tenuously connected “common knowledge”. I think part of the problem is the piece was too ambitious in conception but too sloppy in its execution. It didn’t help that the participants didn’t display a capacity to incisively mine the topics. The best of RV is when we see someone who really makes us sit bolt upright and pay attention as they pull together threads that we have struggled to do ourselves. The best part is that RV pull this off so often! Finally, the really great part is that RV isn’t scared to push the boundaries and always uses the learnings to continually iterate. This makes RV a genuinely powerful force for our futures.

  • MW

    Myron W.

    28 11 2018 03:09

    13       0

    Well, you can't win them all. This is the first RV production that I've ever felt was a waste of time. And it's not that I disagree - I love thoughtful provocation. It's that they seemed unprepared. (I know, because they sound like me BS-ing my way through a few college classes back in the day.)

    A couple examples:
    * They kept falling back on the "Tribe" buzzword, leading to PA talking about us all being a global tribe - without realizing the oxymoronic nature of the statement. If it's global... it's not a tribe!
    * EG invokes Ricardo to rebuff Trump, but forgets Ricardo when talking about AI and automation - superficial mention of truck drivers out of work with no explanation of why comparative advantage will not apply.
    * I apologize if I'm wrong about this, but based on their caricature of rural folks, I'm guessing they are all city boys.
    * Capping it all off was PA stretching a really bad overview of teen lit to make a predetermined point, and DS stumbling through a closing, determined to say "hopeful."

    Obviously there have been several episodes on China recently, and I appreciate the attempt to bring some more perspectives. It was just poorly executed.

  • VS

    Victor S.

    27 11 2018 23:34

    1       0

    Bryan C’s comments are exactly correct ! Ditto x’s 10 ... these are the the dumbest “smart” men i have ever witnessed.

  • VS

    Victor S.

    27 11 2018 23:34

    5       0

    Bryan C’s comments are exactly correct ! Ditto x’s 10 ... these are the the dumbest “smart” men i have ever witnessed.

  • BC

    Bryan C.

    27 11 2018 22:20

    10       1

    I usually like the exchange. But this episode was the least intellectually rigorous program I think I’ve seen on Real Vision thus far. There was no consistent theme. And it sounded like a bunch of liberal mobile list personal opinions not backed up by any consistent research or reason.

  • DS

    David S.

    27 11 2018 21:33

    4       0

    It is interesting that there is hope with the millennial generation when we have already tied their hands and feet behind their backs with the debt super cycle all over the world. Some of the millennial will get a pass with their inheritances, if they can hang on to them. DLS

  • DS

    David S.

    27 11 2018 21:26

    2       0

    I enjoyed and voted for all the previous Dee Smith interviews. I gave a thumbs down on this one. All lines of inquiry fell short of any development. Even a cubist painter could not make a composition. It might have been better to choose one topic and flesh it. A simple example is inferring why are Americans fearful with such a low level of unemployment. If the scholars would speak to workers, they would see the fear is founded in low paying jobs vis-a-vis the last fifty years. In addition, the question of the risk for them and their children not having even low-paying jobs in the future. The effects of the internet, globalization and robots could then show why this angst exists. How these trends can be mitigated both in corporations and governments. What can be done and what is beyond the control of corporations and/or governments. What individuals can do like start gardening. During the war victory gardens were promoted. This may seem a long way from why Boeing needs to be international, but it will make major changes in stock markets all over the world. DLS

  • PW

    Phil W.

    27 11 2018 20:23

    0       0

    1984 or until the pitch forks come out! Overall good vid

  • MM

    Mike M.

    27 11 2018 19:54

    4       0

    Nothing of the sort, luck? Sophistry. What you would expect to hear from academia.

  • TE

    Tito E.

    27 11 2018 19:02

    3       1

    Some smart chaps pontificating on the very big picture. I learned something. Not a waste of my time at all.

  • AB

    AJ B.

    27 11 2018 18:42

    8       1

    The "Lucky" country. THESE ARE THE PEOPLE TEACHING IN U.S. UNIVERSITIES.

    We aren't lucky buddy. You make your own "luck".

  • DV

    David V.

    27 11 2018 17:08

    6       3

    Time to nitpick. As a lifelong professional in the food and beverage industry, I have to call you out on the food displays used in The Exchange episodes. The food is always visually attractive and I imagine it's put together to feed the entire crew. Three "normal" people would consume less than 10% of those two platters, and this seems to be the standard based on previous episodes. It's essentially the same as setting two huge cheesecakes on the table. It's not a big deal...but it does look ridiculous. The solution is simple, just rearrange the food on smaller platters, or skip the food and use a fresh flower arrangement. All that said, two cheesecakes on pedestal stands in a future episode is actually something I'd love to see.

  • SS

    Steve S.

    27 11 2018 13:14

    5       0

    Genuinely disappointed with this as I am with the ones Dee has been involved in as I find them too political & general.

    Hope it was just a blip.

    The best exchange I have watched is with Tony Greer, Tommy Thornton & Dave Floyd along with Raoul Pal and Julien Brigden and of course Grant Williams, Simon and Dan Oliver. Those were amazing and actionable.

  • av

    aleksandar v.

    27 11 2018 12:53

    7       1

    in short, i would like my 20 min back (this time, i just couldn’t watch it in full). while i learned a lot from the “world on the brink” series which truly made me think and i watched it repeatedely, i also suffered from the continuous underlying tone and high moral ground from western experts, who just don’t seem to be capable of moving away from seeing a black/light gray = east/west = all bad/much less bad world. it is just so overwhelming to see those volks believing that they have everone and everything figured out. the same repeats in “the exchange” series. i just don’t want to watch any more academics or whatever they believe they are naming anybody “reptilian brain”, be it trump, putin , or zi.... , suggesting that they know what all those gents are thinking and that they know their intentions. that kind of guests are plentiful in bloomberg, cnn.... sorry rv, i really believe that. i suggest to continue topics/interviews/documentaries covered by dee, but perhaps not covered BY dee. maybe the interviewer/interviewees should be younger, maybe not. but i would surely appreciate volks with a much more fresh world view, starting from a clean slate in terms of history, politics, policies, who are more willing to listen and observe (without reaching conclusions and verdicts), rather than pass down old thoughts and frustrations.

  • av

    aleksandar v.

    27 11 2018 12:53

    1       1

    in short, i would like my 20 min back (this time, i just couldn’t watch it in full). while i learned a lot from the “world on the brink” series which truly made me think and i watched it repeatedely, i also suffered from the continuous underlying tone and high moral ground from western experts, who just don’t seem to be capable of moving away from seeing a black/light gray = east/west = all bad/much less bad world. it is just so overwhelming to see those volks believing that they have everone and everything figured out. the same repeats in “the exchange” series. i just don’t want to watch any more academics or whatever they believe they are naming anybody “reptilian brain”, be it trump, putin , or zi.... , suggesting that they know what all those gents are thinking and that they know their intentions. that kind of guests are plentiful in bloomberg, cnn.... sorry rv, i really believe that. i suggest to continue topics/interviews/documentaries covered by dee, but perhaps not covered BY dee. maybe the interviewer/interviewees should be younger, maybe not. but i would surely appreciate volks with a much more fresh world view, starting from a clean slate in terms of history, politics, policies, who are more willing to listen and observe (without reaching conclusions and verdicts), rather than pass down old thoughts and frustrations.

  • PU

    Peter U.

    27 11 2018 11:16

    8       2

    in short, I would like my 32 minutes back.