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    After the start of a special operation in Ukraine, China began to reduce investments in . The volume of investments has already decreased to a minimum since 2010!.

    This suggests that may be preparing a fight for . The Chinese want to avoid blocking and expropriation of their assets by Western countries by measuring the assets of the Russian Federation.

    If China invaded Taiwan would be reliant on “natural defences” – its rugged coastline and rough sea – with plans to “throw a thousand tanks at the beachhead”

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    America is in a civil war. Not a cocktail party war like Vietnam or Afghanistan, where Americans stand around and talk about it but relatively few are personally affected. No, this is a WWII-level existential threat war where the difference between victory and defeat is literally freedom or tyranny. One need look no farther than what Adolph Trudeau is doing in Canada right now to understand what the future holds.

    This war has been simmering for decades and most Americans didn’t even notice. Now it’s obvious. Virtually every element of traditional American culture is being destroyed. The left has decided that the United States is a plague on humanity and must be eliminated. In this case, the “left” consists of government, media, big tech, big business, and academia, among others.

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    The following is excerpted from a speech delivered on November 10, 1977, on the Hillsdale College campus as part of the Ludwig von Mises Lecture Series. Originally published in Imprimis in January 1978, the speech was reprinted in Educating for Liberty: The Best of Imprimis, 1972-2002 (Hillsdale College Press, 2002).

    How much are we to blame for what has happened? Beginning with the traumatic experience of the Great Depression, we the people have turned more and more to government for answers that government has neither the right nor the capacity to provide. Unfortunately, government as an institution always tends to increase in size and power, and so government attempted to provide the answers.

    The result is a fourth branch of government added to the traditional three of executive, legislative and judicial: a vast federal bureaucracy that is now being imitated in too many states and too many cities, a bureaucracy of enormous power which determines policy to a greater extent than any of us realize, very possibly to a greater extent than our own elected representatives. And it can’t be removed from office by our votes.

    More than anything else, a new political economic mythology, widely believed by too many people, has increased government’s ability to interfere as it does in the marketplace. Profit is a dirty word, blamed for most of our social ills. In the interest of something called consumerism, free enterprise is becoming far less free. Property rights are being reduced, and even eliminated, in the name of environmental protection. It is time that a voice be raised on behalf of the 73 million independent wage earners in this country, pointing out that profit, property rights, and freedom are inseparable, and you cannot have the third unless you continue to be entitled to the first two.

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    Is the Great Reset a conspiracy theory imagining a vast left-wing plot to establish a totalitarian one-world government? No. Despite the fact that some people may have spun conspiracy theories based on it—with some reason, as we will see—the Great Reset is real.

    Indeed, just last year, Klaus Schwab, founder and executive chairman of the World Economic Forum (WEF)—a famous organization made up of the world’s political, economic, and cultural elites that meets annually in Davos, Switzerland—and Thierry Malleret, co-founder and main author of the Monthly Barometer, published a book called COVID-19: The Great Reset. In the book, they define the Great Reset as a means of addressing the “weaknesses of capitalism” that were purportedly exposed by the COVID pandemic.

    But the idea of the Great Reset goes back much further. It can be traced at least as far back as the inception of the WEF, originally founded as the European Management Forum, in 1971. In that same year, Schwab, an engineer and economist by training, published his first book, Modern Enterprise Management in Mechanical Engineering. It was in this book that Schwab first introduced the concept he would later call “stakeholder capitalism,” arguing “that the management of a modern enterprise must serve not only shareholders but all stakeholders to achieve long-term growth and prosperity.” Schwab and the WEF have promoted the idea of stakeholder capitalism ever since. They can take credit for the stakeholder and public-private partnership rhetoric and policies embraced by governments, corporations, non-governmental organizations, and international governance bodies worldwide.

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    Government Extravagance and Mass Democracy: The federal government spent $6.8 trillion in fiscal year 2021. The excess of spending over tax revenue created a $2.8 trillion deficit in that year. The Biden Administration proposes to spend additional trillions and to raise taxes substantially. The Congressional Budget Office projects that deficits will total $15.1 trillion between FY2021 and 2031, and that federal debt held by the public will rise from 100 percent of Gross Domestic Product ($22.3 trillion) today to 106 percent of GDP ($35.8 trillion) by 2031, which would surpass the record level of federal debt set during World War II. The CBO also projects higher inflation (which is already occurring) and rising interest rates, which will adversely affect the budgets and savings of all Americans.

    Foreign Policy and National Defense: The United States faces serious challenges to its national interests from potentially hostile nations such as China, Russia, Iran and North Korea. The Chinese People’s Liberation Army (PLA) is rapidly modernizing its capabilities. China’s recent launch of a long-range maneuverable hypersonic missile capable of carrying a nuclear warhead is a potential game changer. China is expanding its militarization of the South China Sea and poses a threat to Taiwan and possibly to other east Asian nations. Its “Belt and Road” initiative seeks to make China the dominant economic power in Eurasia. To pay insufficient attention to the Chinese threat is to repeat the mistake of Britain and its allies in the 1930s in underestimating the German menace.

    The Afghanistan Debacle: When the September 11, 2001 terrorist attacks on the United States occurred, it was clear that Afghanistan had harbored and supported the Taliban and al-Qaeda, so our military invaded Afghanistan and successfully disabled those terrorist entities in that country. The George W. Bush Administration decided to keep U.S. forces in Afghanistan and to encourage the formation of a modern, democratic government in the country. This process became known as “nation building,” which we also tried (with equal lack of success) in Iraq. Subsequent administrations continued America’s involvement in Afghanistan.

    Education: American education continues to deteriorate. The coronavirus pandemic of 2020 forced the closure of many public schools, and children had to learn online or through home instruction. As a consequence, parents discovered, to their dismay, what their kids were actually being taught in the public schools. It was obvious that the quality of the teaching did not match what the parents expected.

    Social Breakdown: Following the killing of a black man by a white police officer in Minneapolis in May 2020, rioting, looting and outbreaks of mob violence occurred in cities all across the country. The police officer was tried, convicted, and sent to prison, but the appropriate use of legal process did not stop the rioters, led by Antifa, Black Lives Matter and other radical organizations who were supported by America’s leftist media and academic elites. Political leaders in American cities did little or nothing to stop the violence. We know from history what happens when mobs in the street begin to control what happens in the cities. In the United States, the FBI reported that in 2020 murders rose by 29.4 percent compared to the previous year and the overall violent crime rate was up by five percent.

    American Culture: During the first two-thirds of the 20th century, the United States still had what could be described as a common culture. While modernism had certainly produced a certain amount of disruption in art, manners, and taste, there was a general acceptance of traditional moral and religious values, including personal responsibility, standards of behavior, and respect for law and order—even during the Great Depression. In the 1960s, these values began to deteriorate. Academic standards were lowered. A culture of rock music and drugs contributed to a mindless ethos of noise and vulgarity. Now, in the early decades of the 21st century, the “post-modern” culture reflects a culture that is rootless, devoid of spiritual values, disconnected from the past, infatuated with technology and driven by global markets with no traditional moorings or permanent ideals. In a secularized culture, God is forgotten and mammon reigns.

    The Media: The news media have always been a vital part of American culture. Traditionally, American newspapers and other media outlets have reflected a wide variety of opinions. Today’s dominant “mainstream media” (including the New York Times, the Washington Post, ABC, CBS, NBC, MSNBC, CNN, National Public Radio and their acolytes) have become politicized followers of the leftist agenda.

    Immigration: Since its founding, the United States has benefited from a steady and relatively manageable influx of productive and motivated immigrants, mostly from European countries. Until the 1960s, the flow of immigrants was limited by various quotas and restrictions. Under the Immigration and Naturalization Act of 1965, however, which permitted “chain migration” of family members, there was a surge of immigration, especially from Mexico and Central America and more recently from Africa and Asia. Much of this immigration in recent decades has been illegal, and many of the migrants are lacking in basic skills and are less likely to assimilate than previous immigrants.

    The Leadership Crisis: To overcome crises like those described above requires competent leadership. But such leadership is in short supply in America today. The leadership of Joe Biden since his inauguration in January 2021 has been an abject failure. His management of the withdrawal from Afghanistan was a disaster.

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