Most Popular
1. THE INFLATION MONSTER is Forecasting RECESSION - Nadeem_Walayat
2.Why APPLE Could CRASH the Stock Market! - Nadeem_Walayat
3.The Stocks Stealth BEAR Market - Nadeem_Walayat
4.Inflation, Commodities and Interest Rates : Paradigm Shifts in Macrotrends - Rambus_Chartology
5.Stock Market in the Eye of the Storm, Visualising AI Tech Stocks Buying Levels - Nadeem_Walayat
6.AI Tech Stocks Earnings BloodBath Buying Opportunity - Nadeem_Walayat
7.PPT HALTS STOCK MARKET CRASH ahead of Fed May Interest Rate Hike Meeting - Nadeem_Walayat
8.50 Small Cap Growth Stocks Analysis to CAPITALISE on the Stock Market Inflation -Nadeem_Walayat
10.Apple and Microsoft Nuts Are About to CRACK and Send Stock Market Sharply Lower - Nadeem_Walayat
Last 7 days
Why PEAK INFLATION is a RED HERRING! Prepare for a Decade Long Cost of Living Crisis - 9th Aug 22
FREETRADE Want to LEND My Shares to Short Sellers! - 8th Aug 22
Stock Market Unclosed Gap - 8th Aug 22
The End Game for Silver Shenanigans... - 8th Aug 22er
WARNING Corsair MP600 NVME2 M2 SSD Are Prone to Failure Can Prevent Systems From Booting - 8th Aug 22
Elliott Waves: Your "Rhyme & Reason" to Mainstream Stock Market Opinions - 6th Aug 22
COST OF LIVING CRISIS NIGHTMARE - Expect High INFLATION for whole of this DECADE! - 6th Aug 22
Recession Is Good for Gold, but a Crisis Would Be Even Better - 5th Aug 22
Stock Market Rallying On Slowly Thinning Air - 5th Aug 22
Stock Market Trend Pattren 2022 Forecast Current State - 4th Aug 22
Should We Be Prepared For An Aggressive U.S. Fed In The Future? - 4th Aug 22
Will the S&P 500 Stock Market Index Go the Way of Meme Stocks? - 4th Aug 22
Stock Market Another Upswing Attempt - 4th Aug 22
What is our Real Economic and Financial Prognosis? - 4th Aug 22
The REAL Stocks Bear Market of 2022 - 3rd Aug 22
The ‘Wishful Thinking’ Fed Is Anything But ‘Neutral’ - 3rd Aug 22
Don’t Be Misled by Gold’s Recent Upswing - 3rd Aug 22
Aluminum, Copper, Zinc: The 3 Horsemen of the Upcoming "Econocalypse" - 31st July 22
Gold Stocks’ Rally Autumn 2022 - 31st July 22
US Fed Is Battling Excess Global Capital – Which Is Creating Inflation - 31st July 22
What it's like at a Stocks Bear Market Bottom - 29th July 22
How to lock in a Guaranteed 9.6% return from Uncle Sam With I Bonds - 29th July 22
All You Need to Know About the Increase in Building Insurance Premiums for Flats - 29th July 22
The Challenges on the Horizon for UK Landlords - 29th July 22
The Psychology of Investing in a Stocks Bear Market - 26th July 22
Claiming and Calculating The Research and Development Tax Credit - 26th July 22
Stock Market Bearish Test - 26th July 22
Social Media Tips and Writing an Effective Call to Action - 26th July 22
Has Rishi Sunak Succeeded in Buying His Way Into No 10 - Fake Tory Leadership Contest - 26th July 22
The Psychology of Investing in a Stocks Bear Market - 26th July 22
Claiming and Calculating The Research and Development Tax Credit - 26th July 22
Stock Market Bearish Test - 26th July 22
Social Media Tips and Writing an Effective Call to Action - 26th July 22
Has Rishi Sunak Succeeded in Buying His Way Into No 10 - Fake Tory Leadership Contest - 26th July 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Terrorism Fuels Nationalism and Deglobalization of the World

Politics / GeoPolitics Jul 25, 2016 - 03:19 PM GMT

By: John_Mauldin


BY PATRICK WATSON : The weaponized truck attack in Nice, France has terrorism fear on the rise once again. The incidents seem to be more frequent, and the death tolls are rising. People are afraid, and they want it to stop.

Don’t hold your breath, says George Friedman of Geopolitical Futures. The top geopolitics expert says all the options are bad. And, the wrong responses could make the problem even worse.

Speaking in a recent Mauldin Economics video, Friedman said policymakers must admit their solutions haven’t worked. The public wants an answer and will embrace those who claim to have one.

By the way, subscribe to George Friedman’s free weekly column, This Week in Geopolitics, at Mauldin Economics.

“Fear Not” vs. “Do Something”

Friedman sees two different factions forming in the West, with sharply opposing attitudes on terrorism and what to do about it.

The “No Fear” coalition looks at numbers and sees terrorism as a minor risk compared to many other social issues. They say, with some justification, we can save more lives by reducing traffic accidents or curing cancer. To them, being killed by a terrorist is a risk like being struck by lightning. We should take precautions, like not climbing trees during thunderstorms, but otherwise go on with normal life.

The “Do Something” side argues that radical Islamic terrorists are still attacking us 15 years after 9/11, so the solutions thus far are obviously not working. People don’t want to be afraid, but they are, and they are ready to try something new.

New ideas like Donald Trump’s Muslim travel ban may be unworkable, but a significant part of the public is ready to try them anyway. Pressure is growing.

Pressure to Deglobalize

Asked about Salman Rushdie’s argument that globalization will continue despite terrorism, Friedman had a different view. The international institutions that drive globalization, like the European Union, have lost their credibility.

Eight years after the financial crisis, the EU is still struggling to restore economic growth and stabilize its banking system. People see this and don’t believe the EU and its leading members have the capacity to solve terrorism.

Meanwhile, loud voices in the US are asking why Europe can’t defend itself instead of leaning on the US-dominated NATO alliance. Americans see Europe bringing little to the table.

Now, add terrorism on top of all these other problems. Friedman calls the result a “potent mix of nationalism” that won’t go away easily.

Preposterous Solutions

The demands to “do something” lead into another debate: do what? The elite argument that we should simply live with the risk isn’t a solution. People want action.

Unfortunately, headline ideas like banning Muslims from the US will do nothing to solve the problem and will likely create new ones. But the do-nothing camp is largely the same people who presided over years of economic weakness and social breakdown. They have no credibility.

Sooner or later, frightened people will elect those who promise to relieve those fears. Whether they actually can is beside the point. Leaders in both Europe and the US are under pressure to take action, or at least the appearance of action. Whatever they do is unlikely to solve the problem, so the attacks will continue. This is one of those times when all the options are bad.

Watch the full interview (8:50) below or on the Mauldin Economics site.

Subscribe to This Week in Geopolitics

George Friedman writes the free weekly column This Week in Geopolitics for Mauldin Economics.  Subscribe now and get an in-depth view of the forces that will drive events and investors in the next year, decade, or even a century from now.

John Mauldin Archive

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in