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My editor daughter, who is very bookish, suggested I might be interested in this author and his new book. I am reading another book at the present time about two Jewish families that created dynasties in China and Shanghai and one, Sassoon, is still thriving.
I am posting the information so, if you are interested, you can pursue it on your own. Looks to be fascinating.
https://www.principles.com/
AN ONLINE SERIES BY RAY DALIO
THE CHANGING
WORLD ORDER
WHERE WE ARE AND WHERE WE'RE GOING
A new study on the rises and declines of past leading empires that puts today’s economic, political, and policy situation into perspective of the big picture. Book version to be released this fall; read excerpts below now.
And:
Sent to me by a dear friend, a fellow memo reader and a true patriot:
Consider this a heads up!!!!
A Little Known Reality.
Source: Michael Snyder, Guest Post
In future, China will employ millions of American workers and dominate thousands of
small communities all over the United States. Chinese acquisition of U.S. businesses under an America First policy set
a new all-time record last year, and it is on pace to shatter that record this year.
Smithfield Foods acquisition is an example. Smithfield Foods is the largest
pork producer and processor in the world. It has facilities in 26 U.S. states and
it employs tens of thousands of Americans. It directly owns 460 farms and
has contracts with approximately 2,100 others. But now a Chinese company has
bought it for $ 4.7 billion, and that means that the Chinese will now be the
most important employer in dozens of rural communities all over America.
Thanks in part to our massively bloated trade deficit with China, the Chinese
have trillions of dollars to spend. They are only just starting to exercise
their economic muscle.
It is important to keep in mind that there is often not much of a difference
between the Chinese government and Chinese corporations. In 2011, 43 per cent
of all profits in China were produced by companies where the Chinese
government had a controlling interest in.
Last year a Chinese company spent $2.6 billion to purchase AMC entertainment
One of the largest movie theatre chains in the United States. Now that Chinese
company controls more movie ticket sales than anyone else in the world.
But China is not just relying on acquisitions to expand its economic power.
Economic beachheads are being established all over America. For example,
Golden Dragon Precise Copper Tube Group, Inc. recently broke ground on
a $100 million plant in Thomasville, Alabama. Many of the residents of Thomasville, Alabama will be glad to have jobs, but it will also become yet another community
that will now be heavily dependent on communist China.
And guess where else Chinese companies are putting down roots?
Detroit.
Chinese-owned companies are investing in American businesses and new vehicle
technology, selling everything from seat belts to shock absorbers in retail
stores, and hiring experienced engineers and designers in an effort to soak up the
talent and expertise of domestic automakers and their suppliers. If you recently
purchased an American-made vehicle, there is a really good chance that it has
a number of Chinese parts in it. Industry analysts are hard-pressed to put a
number on the Chinese suppliers operating in the United States.
China seems particularly interested in acquiring energy resources in the United States.
For example, China is actually mining for coal in the mountains of Tennessee.
Guizhou Gouchuang Energy Holdings Group spent 616 million dollars to acquire Triple H Coal Co. in Jacksboro, Tennessee. At the time, that acquisition really didn't
make much news, but now a group of conservatives in Tennessee is trying
to stop the Chinese from blowing up their mountains and taking their coal.
And pretty soon China may want to build entire cities in the United States just
like they have been doing in other countries. Right now China is actually
building a city larger than Manhattan just outside Minsk, the capital of Belarus.
Are you starting to get the picture?
China is on the rise. If you doubt this, just read the following:
# When you total up all imports and exports, China is now the number one
trading nation on the entire planet.
# Overall, the U.S. has run a trade deficit with China over the past decade
that comes to more than 2.3 trillion dollars.
# China has more foreign currency reserves than anyone else on the planet.
# China now has the largest new car market in the entire world.
# China now produces more than twice as many automobiles
as the United States does.
#After being bailed out by U.S. taxpayers, GM is involved in 11 joint
ventures with Chinese companies.
# China is the number one gold producer in the world.
# The uniforms for the U.S. Olympic team were made in China.
# 85% of all artificial Christmas trees the world over are made in China.
# The new World Trade Center tower in New York is going
to include glass imported from China.
# China now consumes more energy than the United States does.
# China is now in aggregate the leading manufacturer of goods in the entire world.
# China uses more cement than the rest of the world combined.
# China is now the number one producer of wind and solar power on the entire globe.
# China produces 3 times as much coal and 11 times as much
steel as the United States does.
# China produces more than 90 per cent of the global supply of rare earth elements.
# China is now the number one supplier of components that are critical
to the operation of any national defence system.
# In published scientific research articles China is expected to become
number one in the world very shortly.
And what we have seen so far may just be the tip of the iceberg.
For now, I will just leave you with one piece of advice - learn to speak Chinese.
You are going to need it
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Ross Rants:
What happened at the capitol was historically horrible, and was clearly instigated by Trump. The good news was Pence and McConnell defied Trump, and did the right thing, and saved the country from what could have been a complete breakdown. . The most important thing is the constitution prevailed. When I said last week that 2021 was going to be chaotic, and no relief from 2020, I had no idea how bad it would be in just week one. My view is once Pence refused to overturn the election, and composed his letter, Trump decided his only last move was to stop the proceedings by instigating a mass protest at the capitol to stop the process. It is called insurrection. Whether he ever intended it to become an invasion, we will never know, but he has lost all sense of reality. Now there is serious talk of the 25th amendment. That will not happen with just 12 days to go.
I assume Pence and Meadows will isolate Trump, and make sure he cannot do anything else to create serious problems. Trump will leave peacefully on January 20, but is unlikely to attend the inauguration. Trump is done. No bank, no Wall St firm, and no legitimate deal person, no media, will go near him now. It is very possible now that he will be forced into personal bankruptcy within two years. Although I have stated it before, I have always known Trump was a slimeball because I am out of the same NYC real estate world. I strongly disapproved of the person, but I was in favor of much of what he was getting done on taxes, regulation, funding the military, China, ISIS, Mideast peace deals, NATO and taking on China.
When compared to what I see coming from Biden, and his weak and naive retreads, and cabinet of people who qualify mainly by skin color or gender, I do not have any optimism that the next four years is going to be other than very bad. We had a choice of worst bad. Now that the Dems also control the Senate, we are in for some very bad policy decisions, and real geopolitical and economic damage. Biden is clearly just an avatar, and it is unclear who is really going to be in control of the White House decision making. It is unclear what happens inside the Republican party now as it is in tatters. There will be a scramble for leadership as many will try to position themselves to run for president.
On the other side, we had four years of what we now know was a fake investigation of Russia collusion, Pelosi ripping up the state of the union address for all the world to see, an attempt to manufacture impeachment, and a complete surrender of their sacred obligations by the press and universities. We have a group of irresponsible left wingers calling themselves progressives who are determined to try to overturn capitalism and democracy as we know it. The press and the left never really chastised the rioters all summer. They often said they were peaceful protestors even as the picture showed flames. Unfortunately Biden is not the leader to help fix this mess. We are in for a continued rough period.
It is a sad commentary on what DC has become. Durham is yet to report and indict. He is likely to show Hilary was no better than Trump, and maybe he will even indict her. Biden is just an avatar and we do not know who will really be in control of policy. I expect Biden will not make it for more than two or three years. Hunter will possibly get indicted and the real question is how much bribe money really went to Joe. I don’t know where we go from here. The level of power corruption in DC is out of control.
If the Dems get their way on fiscal and regulatory issues, there will be massive new federal debt issued, and that will cause the dollar to decline further, and at some point inflation will rise. As they move to shut down fracking and otherwise regulate fossil fuels, the price of fossil fuel rises, and that causes inflation, as fuel is used for a wide range of things in addition to cars. All of that leaves aside the rise in the minimum wage to $15, which will make many US products uncompetitive. The range of things the Dems will now do drives up the cost of living for low income people- the very people the Dems claim they want to help. It also means less jobs. That leads to even more subsidies and unemployment spending, and bigger deficits.
Hopefully by 2022, blacks will figure out the Dems are the worst thing to happen to them. As corporate taxes and regulations increase, corporate profits decrease, and stock prices fall. 401K values fall. As the dollar drops, prices rise on imported goods. As prices rise, the Fed becomes pushed to raise rates just as the economy is slowing due to excessive regulation and higher taxes. Government spending is not the solution. It is the problem. Biden says the $900 billion is just the start. So as we come out of the pandemic and the economy is rapidly healing, the Dems want to spend trillions more. The housing market will slow considerably as the price of homes has now risen too fast, and as interest rates start to rise toward 1.5%-2.0% on the ten year as the year progresses, and all this excess fiscal stimulus becomes a burden for the bond market. It is clear the Fed is in control of markets for now. The Fed put is firmly in place.
If you think all of this excess spending is good for the economy, during the Obama years spending vs GDP was the highest since WWII at 24.4%, vs an average of 18.9% since the end of WWII, yet the economy flagged, and by late 2016 was slowly headed down. Between 2010-2013 the Fed purchased 55% of all federal debt issued. Despite this massive spending and monetary stimulus, the economy only grew by 2.1% from 2010-2013 as it came out of the recession. It had been projected by the Fed to grow in excess of 3.5%. So much for Keynesian multiplier effects of fiscal spend. The problem was big tax and regulatory increases. Exactly what we are about to see happen now.
Once everyone realized in 2013 that spending was completely out of control, they passed sequestration which had the effect of crippling the military to such an extent it became unable to carry out its missions, and allowed China to leap toward parity. Biden, Schumer, Pelosi and Yellen will now push for massive new “stimulus spending”, which, with higher taxes and regulation, will substitute government spend for private innovation and investment. Bernie Sanders has gotten what he wanted, and now he will be chair of budget-imagine that..
We are now headed for a period where there will need to be more and more deficits to carry the economy as taxes and regulation reduce private potential output, innovation and productivity. The Fed will be forced to buy more and more Federal debt as there is simply not the capacity in the private nor sovereign markets to accommodate the flood of debt which is already at 108% of GDP. While there may be a short term boost to the economy and stocks from all of this fiscal stimulus, it will not last long as new taxes and regulations kick in. We are in for a terrible economic mess in a couple of years. Wall St may think all this spending is good for stocks, but it is a disaster in the making longer term.
We are now on our way to socialism defined as when the government is spending excessively and dominating the debt markets, and controlling private enterprise, and the labor markets with excess regulation and control of wages through a high minimum wage. The next several years are going to be very troubling for those who believe unfettered private enterprise grows economies. Low income workers are going to find themselves out of jobs and replaced by automation as the $15 minimum wage and pro-union policies kick in. The worst hurt will be blacks who will see their opportunities for full time jobs go away despite huge pressures on companies to hire them.
Bond investors will suffer as rates rise, and inflation sprouts. Innovation will once again be constrained as it was under Obama Biden due to excessive regulation. Infrastructure projects will again become delayed as new government environmental regulation goes back to impeding any hope of getting projects underway quickly, just as we saw under Obama and his $800 billion of “shovel ready projects”. Look for the next Solyndra. There will be a shut down of new gas pipelines which will mean shortages of low cost gas in the Northeast, and so higher energy prices in that region. In addition, the US will lose its energy independence, and some real leverage in geopolitics.
Warnock is a far left radical anti-Semite. He has said you can’t be in the military and believe in God. Ossoff is a radical left winger. I do not understand what has happened to GA. Now Stacy Abrams will become the heroine of the media and of the Dems who will owe her. She is a very far left person who will become too powerful. Clearly the secy of state in GA blew it with the consent decree and the ramifications are huge. Little things can change history.
I expect the stock market to continue up for a while, due to what will be perceived as massive fiscal and monetary stimulus, the dollar down, gold and Bitcoin up, and inflation to once again appear. Having cash will in time be a good thing. Bonds will be big losers as rates rise. At some point, reality will strike, and it will be ugly. Nothing will be done to solve the government pensions crisis, and nothing will be done to help charter schools nor to make real improvement in bad public schools. Charter schools will suffer as the teachers union will now have total control. Law and order will suffer as cops will continue to be vilified and underfunded. China will act up as will Iran. The world will not be a stable place. It may appear to be for a while, but underneath, China will become much more of a threat, and Iran will create more chaos in the Mideast. Israel will be at greater risk of a war with Iran. The flight from NYC, IL and CA will continue as taxes rise and as there will not be a full return to offices to create the revenue for local support businesses, and especially restaurants.
Now I know I live on another planet after reading the new House rules on what words are permissible. Here is a question- what do they now call the Women’s Movement. Is Mother Teresa now Person Teresa. Is a priest no longer referred to as father. Is Nancy Pelosi no longer a grandmother and now she is a grandperson. I mean, have they really all lost their minds. What happens to Title IX. How do they redefine sexual harassment if there is no sexual definition. University insanity has now reached Congress. We can expect to see a lot more of this insanity for the next few years.
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MacCallum gets Raffensperger to squirm during her interview:
MacCallum Grills Raffensperger About Leaking Call, as He Squirms |
Raffensperger Stalls and Lies
|
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