It’s hard to think of a single quarter in any previous single year during which so much uncertainty developed so quickly across both the global economy and geopolitical relations. Harald Malmgren, president of Malmgren Global, offers clarity in a wide-ranging conversation with Mike Green of Simplify Asset Management. One of the most influential foreign policy advisors of the postwar era, Malmgren’s career spans more than 60 years. He was a senior aide to John F. Kennedy, Lyndon B. Johnson, Richard Nixon, and Gerald Ford. And he’s been consulted by Congress as well as numerous CEOs, global leaders, professional associations, and financial institutions. Malmgren and Green trace the evolution of U.S. foreign policy from the 1960s onward, describing how current trends could shape tomorrow’s environment. The defining trend of this period is an inward turn that’s shaped current U.S. leadership’s posture toward the world and the conduct of international relations. A key question is whether a NATO structure created in the 20th century can adapt to 21st century pressures such as rising localism and fractionalization. Russia’s invasion of Ukraine is a seismic event that tests the global order. As Malmgren explains, we’re almost at the end of the fourth turning, and what lies ahead depends on the next generation of leaders. Recorded on March 29, 2022.