From President George HW Bush, 30 years ago. To Klaus Schwab today, the mantra of western national leaders has been a march toward a New World Order. Where, to quote HW: “the rule of law, not the rule of the jungle will prevail...”
It was a vision that seamlessly slipped into a one-world government. A government, no doubt, led by those self-same western leaders.
But as the new century unfolds, it's becoming increasingly apparent, that these New World Leaders have failed to check on that part of the globe that lies beyond the international dateline.
Because it's on that side of the world, that comes to the most adamant resistance from this New World, One World thinking. And there is one thing we've learned both Russia and China have a very different vision of just how this world should evolve.
It seems as if with each day comes to a new revelation of how either Russia or China, is asserting their own sovereignty. Sovereignty has little or nothing to do with those NWO Powers to their west.
The “military incursion”, their word, in Ukraine is the obvious example number one. But so too is the move to sell Russian oil and gas in rubles, not dollars. The move by the Chinese to counter the Swift settlement system with their own. The continued pronouncements by the Chinese, that Taiwan is but a wayward province of the mainland.
And so on.
But from an economic perspective, one of the major moves by Beijing came on Friday. When it was announced that the PRC would now require all state-run computers to be made in China only.
This is an “in your face” rebuke of one of the few markers where America still holds dominance. High Technology.
While the US lost manufacturing dominance years ago, and today is forced to purchase many of the goods and services we rely on from overseas producers. Can you say “Supply Chain?”
One of the few areas we could claim some sort of competitive advantage was in the companies like Apple computer, Microsoft, and all the rest. At least we still had leading-edge software and Information Technology.
“Not anymore,” says Xi Jinping.
And worse, this takes away that billion-population Chinese market. The one that American Multinationals have been lusting after for as long as I can remember.
Literal billions have been spent, and trade secrets compromised just on the elusive promise that one day Americans would be able to sell to the Chinese.
Well, Friday put the lie to that fantasy. Or at least it should have.
Hello West Coast America: From Silicon Valley to Richmond Washington. Do you get it yet? China is going its own way. Unwinding from the Globalist's Dream.
It should be clear to all, that China feels they no longer need America. In fact if anything, it may be the other way around. That America needs China.
The Chinese clearly feel that they now possess, by hook or by crook, sufficient technological know-how to go out on their own. This move is a huge vote of confidence in Chinese PC Makers like Acer, Lenovo, and Asus.
In short, China has rolled back the clock 50 years. They tried the open door policy initiated by President Nixon back in the 1970s. They've gained all the knowledge, and trade secrets the West could provide.
Now it's China that will call the shots.
It's a New World Order all right. But not the one that Nixon, Bush, or Schwab imagined.
Now yesterday you and I discussed our theory, that it's going to be increasingly difficult to have the very high inflation that we're currently experiencing AND a dramatically slowing economy.
Over time, inflation will begin to wane as the economy slips.
And there were a couple of slight indications yesterday that we may be on to something. Or at least we're not the only ones who feel the way we do.
First up yesterday, the latest survey of Consumer Sentiment for Future Inflation. Now, remember that the consumer prices index, the latest reading showed consumer inflation to be running at 8 1/2%.
But the average American thinks that's over 2% higher than it will be in the months ahead. Consumer Inflation expectations came in at less than 6 1/2%.
The other indicator was the auction in 3 and 6-month T Bills yesterday. Both had lower yields than last month. Granted not much lower, but it is still, a far cry from the big jumps in T Bill yields that we've been seeing up to now.
An indication, that short-term T Bills may also be looking for a slowing in inflation.
Keep this in mind. If this becomes reality. If Inflation does indeed begin to moderate. This will be exactly the opposite of what the monetary authorities are looking for.
Today we will once again get 5 Fed governors taking to the podium to extol the virtues of their fight against inflation.
Could it be that the Fed is now completely headed in the wrong direction? Stay tuned, we'll be following this story closely.
Overnight Japan announced that household spending has turned negative. As the Japanese consumer has shut their wallets.
Germany also reported that business sentiment in that country remains negative.
While here in the US the National Federation of Independent Businesses reported no change in their sentiment survey.
In earnings today, first up, the other Sysco, Sysco Incorporated the nation's largest food distributor will report shortly. Sysco should draw a lot of interest today, in light of all the news stories about our food supply currently. Sysco may provide some of those answers about the food supply.
Also reporting this morning will be health care company Well Tower, as well as eye care company Alcon and video game company Electronic Arts.
And then after the close, Occidental Petroleum reports, as well as close watched crypto company Coin Base.