Publications: Notes at the Margin

Chaos Is Not a Policy (April 9, 2018)


The following comment best sums up last week’s events.


"It's becoming childish," said Nader Naeimi, Sydney-based head of dynamic markets at AMP Capital Investors Ltd. "At some point investors will say enough is enough, there's just too much political volatility now."


Naeimi's quote began a Bloomberg article published early Friday morning EDT that captures the feeling of many. The United States' president seems to have shaken the global economy’s foundation. However, Donald Trump is not the only party desperately in need of intelligent guidance. The former sea captains setting the International Maritime Organization's rules, which one friend suggests will create a permanent distillate shortage, have the economic and policy equivalent of Edward John Smith’s navigational acumen. Smith, readers may recall, piloted the ill-fated RMS Titanic straight to its doom.


Current and prospective events have laid a foundation for significant economic chaos over the next two years that will directly affect global growth. The fallout will work its way to the oil industry.


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