Commentary China is losing its influence; it’s in decline. At the same time, however, China, ruled by a despotic regime, is responsible for 28.7 percent of global manufacturing output (more than 10 percentage points ahead of its No. 1 rival, the United States). This utter dependence on China for manufacturing must be stopped. As I…
Can Any of These Countries Replace China as the Factory of the World?
October 17, 2022
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Business & MarketsBusiness ColumnistsChinaIndiamanufacturingMexicoOpinionThinking About ChinaVietnam
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Corporate Social Credit Scores Mirror China, Risk the Republic
October 17, 2022
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banksBusiness & MarketsBusiness ColumnistsCompanieseconomic policieseconomyOpinionpersonal financeSocial credit scoreSocial IssuesUncategorizedUSUS News
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When the United States commenced serious trade relations with China in the late 1980s and early 1990s, the hypothesis of policymakers was that a capitalist market in China would segue into a Western-style, democratic, representative government. As China carries on its 40th Chinese Communist Party Congress this week, where Xi Jinping is expected to be…
China’s Conflicting Economic Policies
Commentary The Chinese Communist Party (CCP) is taking contradictory economic policies that seem to make little sense: cutting rates, increasing credit, and enforcing the “zero-COVID” policy while facing mounting debt, falling currency, declining consumer demand, rising unemployment, and slowing growth. The Chinese economy is arguably in worse shape than it was 30 or even 40…
‘Recession Fatigue’ as Consumers Begin to Break
October 17, 2022
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Business & MarketsBusiness ColumnistsconsumersdepressioneconomyFederal ReserveinflationOpinionrecessionUSUS NewsViewpoints
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Commentary “Recession fatigue” is setting in as consumers struggle under rising interest rates, high inflation, and a declining stock market. Such was the point made in a recent CNBC article: “As the Federal Reserve aggressively raises rates to combat persistent inflation, the tough stance could come at a price. Already, falling stock markets have wiped out more than $9…
Britain, Now Switzerland—Something Is Going to Get Broken
October 17, 2022
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BritainBusiness & MarketsBusiness ColumnistseconomyEuropeFederal ReserveinflationInternational Monetary FundOpinionrecessionSwitzerlandUnited KingdomViewpointsWorld
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Commentary First Britain, now Switzerland. The United Kingdom’s massive fiscal mess has made all the news, capturing the world’s attention for its sudden descent into drama more typical of undeveloped countries. London hadn’t always been the clean money center it now projects in recent decades. The pound had experienced almost frequent problems under the previous…
Financial Turmoil in Western Markets
October 17, 2022
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Bank of EnglandBusiness & MarketsBusiness ColumnistseconomyEuropefinancial stabilityinflationliz trussOpinionrecessionUKUSUS Newsus treasuryViewpointsWorld
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Commentary If you follow the markets, you have probably heard about the recent financial carnage in Great Britain and the forecasted doom in the United States. While the United Kingdom is a smaller country than the United States, generally speaking the United Kingdom has one of the most profound financial systems in the developed world….
Inflation Is King
Commentary Inflation is now the single most important indicator for the financial markets. Fundamentals? They’re meaningless. Earnings? Important but not indicative of the future. Momentum? Well, that also depends on inflation. The financial markets now seem to be singularly driven by the anticipated trajectory of inflation. In other words, readings of inflation would provide an…
Choked by Our Own Supply Chain
Commentary Middle East oil restrictions are about to slam a once energy-independent America, President Biden is pardoning potheads, and a TV interview has exposed the Pennsylvania Senate candidate who was in the lead as visibly speech-impaired due to his stroke earlier this year. So all that talk we heard months ago about the supply chain…
Biden’s Saudi Threats Are Reckless, Dangerous
Commentary In an interview this week with Jake Tapper, President Joe Biden made veiled threats against the Kingdom of Saudi Arabia (KSA) as retaliation for OPEC’s cutback of 2 million barrels of oil per day. “There’s going to be some consequences for what they’ve done with Russia. I’m not going to get into what I’d consider…
The Inflation Machine Rages Against You
Commentary Reading the daily economic news is like listening to the video narration of a slow-motion pile-up car wreck on the world’s busiest highway. We know exactly what is taking place car by car and we know the damage is great and intensifying in each frame. We are not shocked by any of it but…
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