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America First

america first400x400We subscribe to an America First foreign policy which is characterized by the belief in the strength and the character of the American people. It is not an isolationist policy but rather one which prioritizes the security and safety of American people and the sanctity of American laws, values and culture. We believe in treaties and tariffs which strengthen our diplomatic and economic prowess including a stronger NATO and USMCA, a peace through strength Middle East policy and a roster of alternative trade partners to China.

In The News

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What’s Really Going On In China

What’s Really Going On In China Authored by Charles Hugh Smith via OfTwoMinds blog, Losses will be taken and sacrifices enforced on those who don’t understand the Chinese state will no longer absorb the losses of speculative excess. Let’s start by stipulating that no one outside President Xi’s inner circle really knows what’s going on in China, and so my comments here are systemic observations, not claims of insider knowledge. Many western observers have noted the centrality of Marxist-Leninist-Maoist doctrine in President Xi’s writings. This is somewhat akin to invoking America’s Founding Fathers to support one’s current policies: if you’re trying to modify state policy in China, you have to explain it in the context of the Chinese Communist Party’s history and doctrines. Never mind if the ideals were not met; what’s important is establishing continuity and resonance with the history of China, the core doctrines of Chinese Communism and the CCP’s leadership based on those doctrines. That said, we should be careful not to read too much into doctrinal evocations such as common prosperity, which are useful conceptual anchors and slogans but not the full story. What’s actually happening in China isn’t Marxist or Capitalist–it’s plain old non-ideological human greed, hubris and magical thinking manifesting as moral hazard running amok.. Moral hazard— the separation of risk and consequence, as speculators make increasingly risky bets because they know any losses will be covered by the state–is effectively the new State Religion in China: everyone is absolutely confident that every punter, especially all the rich, powerful, well-connected speculators–will be bailed out by the central government. Greed knows no bounds when a speculator is insulated from risk, for people have an insatiable appetite for risky bets when the gains will be theirs to keep but any losses will be covered by the government. This is the fundamental story of

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China Is Responsible For More Than A Third Of World GDP Growth – This Is A Problem

China Is Responsible For More Than A Third Of World GDP Growth – This Is A Problem As Deutsche Bank’s FX strategist George Saravelos writes in a recent research report he has been “on the pessimistic side of the reflation narrative for some time now.” In the note titled “three charts for pessimists”, he admits that there are many more things happening to the global economy than easy fiscal and monetary policy, including a large negative supply-shock, in turn leading to sizeable demand destruction; stronger than expected precautionary saving behavior from consumers pushing down r*; and massive structural economic change on the back of COVID-led digitization across multiple sectors. And now we have to add China to the mix. His first chart below highlights a simple observation: China has been acting as a massive global growth turbocharge since the start of the century, and is responsible for more than a third of world GDP growth. As Saravelos gloomily notes, “systemic risks of the unfolding property developer crisis aside, if the last few months experience are signaling a regime break in Chinese tolerance for what authorities have termed “low quality” growth, the world should take notice.” Back to the developed world, Saravelos’ second chart shows there is still a massive hole in the UK labor market. Total hours worked are a whopping near-10% below trend compared to pre-COVID. Yet the market is now fully pricing a Bank of England rate hike early next year. For sure, wages are rising, but as a recent IFS study showed there are still massive disruptions in the UK labor market. It will take a brave central bank to hike in to such a hole. Even if it does, it is hardly positive for the currency. Finally, there are two parallel universes. The global goods sector

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Kash’s Corner: More Indictments Are Coming; Unraveling the Origins of the Russia Collusion Hoax

Special counsel John Durham is sending a signal that more indictments are coming, says Kash Patel. “When you issue an indictment for lying to the FBI, like they did [Michael] Sussmann, it’s two to five pages max. It’s unheard of to be 27 pages. So why put all that information out there?” It’s “the biggest signal that more is coming,” says Kash Patel. Kash Patel deposed former Perkins Coie lawyer Michael Sussmann as part of his investigations into allegations of Trump–Russia collusion with Rep. Devin Nunes (R-Calif.), and that deposition became a key part of Durham’s indictment of Sussmann, who was a lawyer for the Clinton campaign. In this episode, he breaks down what’s in the indictment and where Durham’s investigation is likely headed. Timeline of FBI’s FISA Abuse in Trump Campaign Investigation (Infographic) Spygate: The True Story of Collusion (Infographic) Timeline of the Durham Investigation (Infographic) Follow EpochTV on …

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