☎️ Orbán on Tucker: Call Back Trump.

That’s the only way out of this mess, says Hungarian PM. [The Rude Awakening] August 30, 2023 [WEBSITE]( | [UNSUBSCRIBE]( ☎️ Orbán on Tucker: Call Back Trump. - Hungarian Prime Minister Viktor Orbán spoke with Tucker Carlson yesterday. - Orbán, speaking English, said, “Call back Trump. That’s the only way out. Call back Trump.” - "The third world war is knocking on our door." [Do NOT pay your September electric until you see this!]( If you live in one of these 43 states… You must [watch this urgent warning]( immeditaly. (You Need To Learn About AOC’s “Green New Scam” In Order To Opt-Out) To learn the single most important move you need to make to protect you and your family this summer... [Click here now]( or the play button above. [Click Here To Learn More]( [Sean Ring] SEAN RING Dear Reader, Good morning from brisk, sunny Il Piemonte. Tucker Carlson continues to kick Fox News in the gooey bag with his speeches and interviews. Of course, he interviewed former President Trump during the Republican debate, obviating any need for it. Now, he’s in Hungary and taking no prisoners. First, Carlson gave a speech [apologizing for US Ambassador David Pressman’s behavior](. I'm not in the habit of apologizing for the United States. In fact, I don't think I ever have, but the behavior of the American ambassador to Hungary makes me want to apologize," said Carlson. "It's disgusting and inexcusable. It's also so far from the norms of diplomacy in my country that it's hard for me to believe that David Pressman is actually doing what he's doing. And so for a creep like David Pressman, who is not a diplomat - who's a political activist and Biden donor - to show up in your country and lecture you about your culture, and threaten you because you do things differently from the way they do things where he lives... hurts the United States and is a grave embarrassment to me as an American, and an outrage to me as someone who pays his salary. It's disgusting. My goodness, that’s downright glorious! Now, [Tucker has interviewed Hungarian Prime Minister Viktor Orbán](. I’ve always had a soft spot for Hungary. I visited there often because one of my past girlfriends is Hungarian. London, 2004 I was “out on the lash” (British English for “getting drunk”) with my late, great friend Malcolm. Malcolm was an Aussie who looked suspiciously like Oasis’s Liam Gallagher, haircut and all. I used to love our drunken nights out. I still miss him terribly. One night, we were out in Piccadilly Circus and got into a club called Anon Anon. It’s no longer there, but at the time, it was one of those places that everyone drained into after 11 p.m. when the pubs used to close. Across the dance floor stood a raven-haired beauty who was - how shall I put it - well-proportioned. At the time, I was The World’s Greatest Wingman™, so I just walked over. But to my delight and surprise, the beauty was interested in me and not Malcolm! We introduced ourselves and had a wonderful time. Every time she leaned forward to sip her drink, I wondered if her d-cups would runneth over. Oh, happy days! I wound up dating her for two years. She was from - get ready - Kiskunfélegyháza, Hungary. Don’t even try to pronounce it. It took me about twenty minutes to get it right. [Will Inflation’s Second Wave Wipe Out America’s Middle Class?]( During the 1970s, inflation lasted for years and came in three separate waves. Each wave was far worse than the last. [Today, the same exact thing is happening again.]( Is the price of food, gasoline, housing and more about to skyrocket even higher? WARNING: The next wave of inflation could wipe out America’s middle class. [== > Get ready for “Inflation’s Second Wave.” Click here now to see my urgent warning.]( [Click Here To Learn More]( Hungary, Back Then… Hungary was admitted into the EU in 2004, along with Cyprus, the Czech Republic (now Czechia), Estonia, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia. These were the “A10” countries and the fifth enlargement of the union. I remember visiting Budapest, which is Hungary’s remarkable capital. Then it was a backwater. Now, it’s a place where digital nomads gather. I was last there in 2019 with Pam and Micah. The city continues to thrive. N - as I’ll call her - also took me to her hometown unpronounceable, which is out in the boonies. It was great to meet her family and enjoy a tankerful of palinka, the traditional fruit spirit of the Carpathian Mountains and surrounding regions. I recall Unicum also flowing like water. Our last trip to Hungary was to Eger, in the Northeast wine-producing region. It was wonderful. Hungarian wine is severely underrated, from what I remember. But Hungary is Hungary. Proud, Catholic, and no-nonsense. Hungary, Now. Those traits are reflected in their leader, Viktor Orbán. The Hungarians love him, though effete Western liberals hate him. They hate Orbán for the same reason they hate Putin. Hungarians want Hungary to stay Hungary, just like Russians want Russia to stay Russia. Again, digital nomads abound. This isn’t about immigration per se. It’s about mass immigration and erasing borders overwhelming a country’s culture. You know, like how the non-existent US southern border is terraforming Texas and has already destroyed California. The Hungarians don’t want to be terraformed. And they don’t mind depending on Russia for energy. It’s interesting to note that the occupying Russians imprisoned Orbán for trying to free his country from Russia’s grip. Talk about not holding grudges! Unlike American politicians, Hungary’s politicians are delivering what their people want. So, it’s essential to hear what men like Orbán are saying. Regarding Ukraine “winning” the war, Orbán says: “It is not just a misunderstanding; it is a lie.” Regarding NATO’s stance on the Russia-Ukraine war: "This is a bad strategy, we have to stop it," adding that "we cannot beat [the Russians], we will not kill their leader, they will never give it up, they will invest more." "What finally will count is boots on the ground, and the Russians are far stronger." About Russia: "To understand the Russians, it's a difficult thing, especially if you have an ocean between you and Russia." "Don't misunderstand the Russians. So, they're not going to get sick of Putin and throw him out. Come on, it's a joke." Carlson asked Orbán, "Are you worried about being crushed by the US?" "It's dangerous. I am not the favorite politician of the liberals, but nobody's perfect." [Editor’s Note: HA!] "There are certain things that are more important than me, than my ego: family, nation, god." “To be Hungarian is to be very proud of it. We love the nation, we love the country, and we are proud of it. It’s not very much mainstream thinking or political thinking of a Western society. But in Hungary, we are still very patriotic and Christian and committed to those values. Not from an ideological level, but on the streets every day.” And for the piece de resistance, Orbán asks for President Trump to return: Call back Trump. That’s the only way out. Call back Trump. Because you know, you can criticize him for many reasons. I understand all the discussion. But the best foreign policy of the recent several decades belonged to him. He did not initiate any new war. He treated nicely the North Koreans and Russia, even the Chinese. You know, he delivered a policy that was the best one for the Middle East, the Abraham Accords. So he had a very good foreign policy. He’s criticized because he’s not educated enough to understand foreign policy. This is not the case. Facts count, and his foreign policy was the best form for the world in the last several decades I have seen. And if he would have been the president at the moment the Russian invasion started, no, it would not be possible to do that by the Russians. So Trump is the man to save the world and probably the human beings in the world as well. Wow! That’s some endorsement. Wrap Up The Hungarian PM wants to skip the red phone and pick up the orange one. I don’t blame him. Since Joke Biden took over, the world has gone to pot. Let’s hope the voting machines reflect the levers pulled this time. [You can watch the entire Tucker/Orbán interview here.]( Have a great day! All the best, [Sean Ring] Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( In Case You Missed It… China’s Economic Death is Greatly Exaggerated [Sean Ring] SEAN RING Good morning from a brisk autumnal Asti! I love this time of year as it quickly cools down after summer. It makes me want to study more. I feel like I’m going back to school, though I’m nearing 50. What's great about it is that cool air stimulates the intellect and makes you want to analyze things. Luckily, my good friend, Hong Kong H, sent me [an amazing piece of research by Louis-Vincent Gave](. Gave is the head of Gavekal, an excellent analytics company. He opened this article beyond his paywall to show everyone that the death of China’s economy is greatly exaggerated. I will summarize his excellent research for you in this article and show you the Chinese economy is not in its death throes. But First, My Assumptions By printing this, I don’t mean to say China is problem-free. I believe we won’t know the extent to which the One Child Policy has damaged China for many years yet. I also believe quasi-famous demographers, who I won’t name, make wild claims to snag highly paid speeches. Their claims are “unfalsifiable,” meaning I can’t prove their models false, but they can’t prove them true, either. I also believe we don’t know how much Chinese Communist Party (CCP) control of companies damages their innovation. (They are inventing a lot of cool stuff lately.) We also don’t know precisely how the CCP intervenes in the Chinese markets. I wanted to get that out of the way before you think I’m cheering for the CCP. The Banks Gave writes, “At Gavekal, we look at bank shares as leading indicators of financial trouble. When we see bank shares break out to new lows, it is usually a signal that investors should head for the exit as quickly as possible.” Note the S&P Composite 1,500 banks’ performance before and after the Lehman collapse: [Rude] Now look at what Chinese bank shares are doing: [Rude] These charts are not the same. How about over the past year? [Rude] Yikes! The SPX banks’ performance is horrific. Chinese Equities Let’s look at the Shanghai Composite, China’s big stock index: [SJN] Ok, this isn’t the best-looking chart in the world. In fact, I remember moving to Hong Kong in 2015, right at the start of the insane 3,000-point move upward. After that, the deluge. The Chinese stock market still hasn’t recovered. But is this, in and of itself, heralding a massive crash? Nope. [Grid Monitor Warns: Will The U.S. Power Grid Fail Nationwide?]( [Click here to learn more]( The U.S. power grid is under immense stress – [and according to this video]( your area could be set to experience rolling blackouts. They’ve already begun across the country – in Texas, California, Florida, North Carolina and more. The grid monitor just issued a “sobering” report of blackout risks across the U.S. [And research shows rolling blackouts could soon come to your area. Because of that, I encourage you to prepare right away](. This might be your last chance to do so. [== > Click here now for my urgent warning](. [Click Here To Learn More]( Commodities Here’s one place where I disagree with Monsieur Gave. He rightly asks, “If China is imploding, why isn’t this reflected in commodity prices?” Look at this chart: [Rude] Since the US Fed has printed so many dollars willy-nilly, the commodity price inflation may have overcome weaker Chinese demand. I can’t prove that’s the case right now; it’s just a first-glance thought. FX While the Chinese yuan is weaker against the US dollar, it’s performed well against its main competitors, the Japanese yen and the South Korean won. [Rude] I checked Gave on the JPY and KRW, and he’s correct. Since January 2012, the CNY is only slightly up against the KRW. But against the JPY, it’s up nearly 67%. [Rude] Chinese Consumption The Chinese consumer is keeping up. Gave notes that Macau’s tourism arrivals are nearly back to pre-pandemic levels. He also shows that car sales are relatively strong. Finally, Alibaba had its strongest first-quarter results on record. None of those facts suggest an imminent financial crisis or market meltdown. Chinese Bonds Vs. US Bonds Ok, fasten your seatbelt for this one: [Rude] Are Chinese bonds proving to be safer investments than US Treasury bonds? As we’ve seen 60/40 portfolios get crushed, we probably assumed everyone else’s bond markets must have also gone down the tubes. But that’s simply not the case. Someone somewhere is thrilled to put their money in the hands of the Chinese government. And why wouldn’t they be? From Gave: Staying on the US treasury market, it is also odd how Chinese government bonds have outperformed US treasuries so massively over the past few years. Having gone through a fair number of emerging market crises, I can say with my hand on my heart that I have never before seen the government bonds of an emerging market in crisis outperform US treasuries. Yet since the start of Covid, long-dated Chinese government bonds have outperformed long-dated US treasuries by 35.3%. That’s just staggering. Gave sums it up this way: - There is a sizable problem in the Chinese real estate sector, and companies are going bust. - Amazingly, however, Chinese banks seem to be weathering the storm, at least for now. - The Chinese consumer continues to consume, even if not with the same gusto as in the years before Covid. - Chinese equities have been disappointing, but Chinese equity markets are not in the kind of full-blown meltdown one might expect, given the apocalyptic tone of reporting in the financial media. - Commodity markets do not seem all that bothered by the implosion in Chinese real estate. - Government bond yields in China remain stable and have not broken down to new lows. - US treasuries continue to melt down, even as returns on Chinese government bonds remain steady. - The Chinese high-yield corporate debt market remains completely dislocated. So Why the Alarm Bells? The apocryphal quote “Accuse your enemies of that which you are doing” comes to mind here. We know the US economy is in trouble, and the Media Industrial Complex has been mobilized to play that down in favor of a Chinese economic catastrophe. But the numbers just don’t bear out. I’m not saying the Chinese economy is perfect, and neither is Monsieur Gave, but it’s certainly not going to fall apart tomorrow. Wrap Up Gave writes this towards the end of this paper: This brings me to what should be the big story of the summer: the meltdown in US treasuries. Here is the biggest market in the world, the bedrock of the global financial system, falling by close to double digits in a month. And perhaps most amazing, this meltdown is occurring on limited news. There have been no Federal Reserve policy changes, no hawkish speeches from Jerome Powell. Basically, long-dated US treasuries just fell -9% on no news. This should be the news. Instead, the news is all about China’s financial meltdown. My initial reaction to this odd combination of terrible Chinese news with rising US treasury yields was to think: “This is odd. Why are US treasury yields rising when the Chinese news is so bad?” Then it struck me that perhaps I had things the wrong way around and that I ought to be asking: “Is the Chinese news so bad precisely because US treasuries are melting down?” Now that’s a good question. Have a great day. All the best, [Sean Ring] Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( P.S. Just to remind you, [you can read Gave’s original research here](. It’s absolutely worth your time. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. 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