Ep. 454: Socialistic Paradise with Michael Covel on Trend Following

Socialism
Socialism

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Today on Trend Following Radio Michael Covel starts the podcast off talking about President Obama and his recent visit to Asia. Michael had an interesting bird’s eye look at the President’s visit. He describes the the reaction to President Obama’s visit and why Obama deserves credit for normalizing relations with Vietnam.

Michael moves into talking about free market systems and the necessity for them. Venezuela is a perfect example of a failed socialistic state. They are failing big time with no sign of recovery. Michael moves into reading from an article written by David Sirota from 2013. Sirota thought that Hugo Chavez was an amazing leader three years ago. However, in 2016 Sirota goes on to say that oil is killing the economy rather than socialism.

In this episode of Trend Following Radio:

  • Venezuela
  • Hugo Chavez
  • Negative interest rate policy
  • Trading off politics

“If all of the sudden, around the world, pure socialism became the objective, it is an absolute death cult. There will be no trend following. There will be no markets. There will be sicko’s in government leadership positions that control everything.” – Michael Covel

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