On This Episode:
- Master Your World : The G20 Meetings
- Master Your Mind : The Spiritual Path
- Master Your Words: The “T” Word
- Master Your Money : Target Date Funds
- Master Your Life : A Whole New Challenge!
“The problem is not whether the war will break out, but when,” said China Military Daily. “Our task is to develop the ‘trump card’ weapon for China before the war”, they continued. This is a direct quote from a report in China Military Online, affiliated with the official PLA Daily newspaper. The issue driving this is the increasing speed of development of China’s missile technology and offensive missile systems.
For the past 8 years, China has been increasing its military to compete with the U.S. as a superpower as it has also worked to increase the scope of its economy. On both fronts, they’re succeeding. Economically speaking the aggregate purchasing power of the Chinese economy is now larger than the purchasing power of the United States economy. In fact, according to our own Central Intelligence Agency, China is leading the U.S. in a number of areas including;
United States China
The point with these numbers is only to show that China is a serious threat to our global position. However, it is important to understand that they have their own weaknesses, municipal debt that is through the roof and hundreds of millions of people who aren’t necessarily ready for the 21st century.
The obvious solution to our geo-political weakness is to once again grow our economy, and grow it faster than 2%. The way to do that is cut taxes, lower regulation and embrace the dream that is America, that people can govern their own lives without dictation from bureaucrats in the federal government.
Surely the argument will be made that the way to resolve this is to not feel so threatened by the Chinese and reduce our military budget in good faith as to reduce our deficits and strengthen our economy. That would be sound policy except for the fact of what China has openly done in building aircraft bases in international waters and making statements like “war is not a question of if, but when”
Markets begin Autumn staying in the narrow trading range waiting for news; and the Italians plan a referendum that could be a game changer!
Steve Beaman joined Steve Batton for an important segment discussing the future of America’s economy.
The markets end the summer of stability on a down note and our good friend and tin-pot dictator Kim Jung Un murders one aid and banishes two others!