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China is trying to export its way through a domestic balance sheet problem.

Europe is trying to stop its industrial base from being hollowed out.

Both are acting out of necessity. Not strategy. That is the trade war.

China built too much industrial capacity. The world never grew the way it expected. Now it is left with factories that produce far more than anyone can absorb.

From Beijing's perspective this is not a mistake. It is a national development strategy. Dominate the industries of the future. Hold on to the industries of the past.

From Europe's perspective it is an existential threat.

Chinese producers get subsidies, state backed banking, and sell at prices European companies cannot match.

The result is not lower consumer prices. The result is industrial destruction.

Europe already watched this happen in solar panels.

And China has no choice but to keep going. If exports slow, factories idle, profits fall, employment suffers, banks break.

Exports are the only release valve left.

China's solution is Europe's problem.

Neither can afford to blink. https://x.com/JeffSnider_EDU/status/2065190252520858012?s=20

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Monday Night At The Movies: "Night Train" (1959)

Join Gagglers for "Night Train"!
The screening starts at 3 p.m. ET sharp.
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TG 2134: Zelensky Pens Open Letter To Putin; Lavrov Sounds Different Note From Kremlin's

George Szamuely and Peter Lavelle discuss Ukraine President Zelensky's open letter to Russian President Putin, Putin's response to it and Russian Foreign Minister Sergey Lavrov's increasingly harsh tone toward the Trump administration--a striking contrast to that of the complaisant Kremlin.

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TG 2133: World Renders Judgment On Today's Germany In U.N. Vote

George Szamuely and Peter Lavelle discuss Germany's failure to win a seat on the U.N. Security Council, and explain its global significance.

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35 minutes ago

This guy is brilliant :))) https://x.com/nexta_tv/status/2065260297481257072?s=20

He also owns a tank and "visited" the Swiss government https://x.com/nwymat/status/2065303941403836663?s=20

41 minutes ago

Kremlin spokesman Dmitry Peskov was asked today about Russian Central Bank chairwoman Elvira Nabiullina, whose disappearance from public view over the past week (incl. the
@SPIEF
) has fueled speculation about her fate. "People sometime get sick; there's nothing unusual about it."
https://x.com/Mike_Eckel/status/2065014955636584678?s=20 :)))))

https://open.substack.com/pub/slavlandchronicles/p/cyperpunk-2026-sberbank-edition?utm_source=share&utm_medium=android&r=o786d

I recommend reading the New York Times piece “Inside the White House Freakout Over the Epstein Files,” by Haberman and Swan. Briefly, it documents how the Epstein files triggered an internal crisis in the Trump White House: Vance calling it a “huge problem,” senior aides holding repeated Situation Room meetings (often without Trump) over a political scandal, officials pushing transparency moves like unsealing grand jury records that they privately knew would produce nothing new, discussions about deploying the imprisoned Ghislaine Maxwell to publicly defend Trump, and internal warfare between Bondi, the FBI and others over messaging. Throughout, the dominant fear was losing the MAGA base, not anything Democrats might do. 

And here is what struck me reading it. Across all those Situation Room meetings, in a room normally reserved for wars and terrorist ...

January 21, 2023
More Leftie Than Thou
"Jacobin" Magazine Celebrates A Strike Against Ol' Blue Eyes

Here at "The Gaggle" we have very little time for the "more Leftie than thou" school of thought--that's the approach to life according to which the only thing that matters is whether you take the right position on every issue under the sun from Abortion to Zelensky. No one in the world meets the exacting standards of this school of thought; any Leftie leader anywhere is always selling out to the bankers and the capitalists. The perfect exemplar of this is the unreadable Jacobin magazine. 

The other day I came across this article from 2021. It's a celebration of trade union power. And not simply trade union power, but the use of trade union power to secure political goals. Of course (and this is always the case with the "more Leftie than thou" crowd), this glorious, never-to-be-forgotten moment on the history of organized labor took place many years ago--in the summer of 1974 to be exact. Yes, almost half a century has gone by since that thrilling moment when the working-class movement of Australia mobilized and prepared to seize the means of production, distribution and exchange. 

Well, not quite. Organized labor went into action against...Ol' Blue Eyes, the Chairman of the Board, the Voice; yes, Frank Sinatra. Why? What had Sinatra done? Sinatra was certainly very rich, and he owned a variety of properties and businesses. But if the Australian trade union movement were, understandably, searching for the bright, incandescent spark that would finally awaken the working class from its slumber there were surely richer, greedier, more dishonest, more decadent, above all more Australian individuals it could have discovered. Australia was never short of them. Rupert Murdoch immediately springs to mind. Why Sinatra?

 

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