I write to you less than 24 hours before Ireland heads to the polls to decide who will lead the country, as the term of the current coalition government—comprising Fine Gael, Fianna Fáil, and the Green Party—comes to an end.
At present, the economy—and by extension, the incumbent government—is feeling buoyant thanks to robust corporate tax receipts. This windfall has allowed politicians, from the government and opposition alike, to seemingly promise voters the moon on a stick for the years ahead. However, many economists believe this optimism should be tempered, largely due to the potential implications of President Trump’s recent election victory and his “America First” agenda.
Dan O’Brien, Chief Economist at the Institute of International and European Affairs, remarked earlier that U.S. policy under Trump represents “a clear and present danger [to Ireland], given what the most powerful man in the world has said he is going to do.”
In this vein, Trump appears poised to hire just the man to carry out his trade policies: Howard Lutnick, the likely next U.S. Commerce Secretary. Lutnick has already made his stance on Ireland’s trade policies clear, calling it “nonsense that Ireland, of all places, runs a trade surplus at our expense… When we end this nonsense, America will be a truly great country again. You’ll be shocked.”
What Trump, Lutnick, and other U.S. policymakers decide to do is beyond the control of any Irish leader. What Irish voters must decide is who is best equipped to negotiate with the U.S. and to handle whatever challenges arise in the coming years. American policy is just one of many uncertainties facing the Irish economy right now.
As always, the best way to prepare for uncertainty is through your portfolio. Holding gold not only allows you to take calculated risks but also helps you ride the waves of volatility almost certainly heading for the Irish economy.
On the topic of the U.S., my guest this week is on a mission to empower Americans to take control of their financial and economic security. JP Cortez, the Executive Director of the Sound Money Defense League, is leading the charge behind the sound money movement in the U.S. That’s right—JP is the driving force behind efforts to bring gold and silver back into the financial system.
JP is pragmatic and realistic in his approach, working on both educational initiatives and legislative reforms. He has already achieved significant successes, such as the removal of sales taxes on precious metals in New Jersey and Nebraska.
As he explains, this is an issue for everyone. Economic challenges, such as inflation, are not partisan issues; they affect citizens across all states and socioeconomic backgrounds. This is a fascinating conversation that delves into modern economic history, human behavior, and U.S. politics. I thoroughly enjoyed meeting JP and hope you enjoy the interview as much as I did.
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