China is deploying troops while Taiwan is preparing for WAR. Seems like the perfect day to salute Taiwan as part of Cultural Appropriation Month! We'll let you know why this all matters to you. Also, the Fed showed why we should end the Fed. And remember Biden's border crisis? We do.

Move Over, Russia! China Is Going to F**K Taiwan! | Louder with Crowderwww.youtube.com

TAIWAN V. CHINA

• This week Chairman Xi Jinping signed a decree that would allow for the deployment of Chinese troops for “purposes other than war.” SOURCE: GlobalTimes
  • According to State Media outlet ‘Xinhua’ this new outline aims to: SOURCE: XINHUA
    • “protect people's lives and property, safeguard national sovereignty, security and development interest, and safeguard world peace and regional stability.”
  • This would theoretically allow China to use troops to protect their Belt and Road investment projects overseas.

FAST FACT #1: Taiwan sees a lot of similarities with Russia.

• Eugene Kuo, an analyst with Taiwan's Institute for National Policy Research, said: SOURCE: ABC.Net
  • "I think it's definitely a copy of Putin's 'special operation' language."
  • "And after what happened in Ukraine, it sends a very threatening signal to Taiwan, Japan and the surrounding countries in the South China Sea.”
• Kuo also believes that Xi is trying to enhance Gray Zone activities.
  • “This is about seeking to define a future military intervention in Taiwan as a 'non-war' operation."

FAST FACT #2: Taiwan is taking notice of China’s moves.

• On Wednesday, Taiwan’s foreign minister, Joseph Wu, spoke on China’s increasing escalation: SOURCE: Newsmax
• On Monday, Taiwan’s legislative speaker Yun Fong said Taiwan had produced missiles that are: SOURCE: Twitter
  • “Capable to attack Beijing.”
• Russia’s invasion of Ukraine is also forcing a rethink for Taiwan.
  • Taiwanese military and reservists are increasing training intensity.
  • One reservist said:
    • “Nearly every day, [my] commanders would remind the men that the threat from China was growing.”
    • Ukraine showed us that you need to first show to others that you have the resolve to defend yourself; only then will others come and help,”
• Civilians have also started participating in simulated urban warfare. SOURCE: Twitter

BIDEN’S BORDER CRISIS

• On June 10, Biden announced a new agreement with Mexico, Central and South America to address immigration. SOURCE: YouTube

FAST FACT #1: Agreement includes US promise to: SOURCE: CBS

• Nearly $350M to aid other countries taking in migrants.
• To take in 20,000 refugees over the next two years.

FAST FACT #2: The 20,000 number pales in comparison to the number of illegal migrants coming to the US.

• May 2022 saw a record 239,416 illegal immigrants encountered. SOURCE: CBP
  • This beat the previous monthly record in April, which saw 235,478 encounters.
  • The most encounters EVER under Trump was 144,116 in May 2019. SOURCE: CBP
• According to Customs and Border Patrol (CBP) records, fiscal year 2022 has beat last year’s record numbers each month. SOURCE: Twitter
  • Included in the FY apprehensions are: SOURCE: CBP
    • 10,695 criminal noncitizens
    • 405 lbs of fentanyl
    • 865 lbs of cocaine
    • 3,165 lbs of meth

FAST FACT #3: As illegal immigration explodes, southern states are retaliating.

• Texas and Arizona have sent 79 buses of migrants to DC since April. SOURCE: NYP

FAST FACT #4: The Biden administration is punishing CBP. SOURCE: DailyBeast

• According to an unidentified federal source, the agents accused of whipping migrants will be “sanctioned with ‘administrative violations.”
  • The agents were previously cleared of any criminal wrongdoing.

INTEREST RATES

• The Fed raised interest rates by 0.75% last night. SOURCE: WSJ
  • This marks the largest increase since 1994 and sets the current rate at 1.5%
• From that same meeting, officials project raising rates to 3%. SOURCE: FedReserve.gov
  • HALF of the board members don’t think a “soft landing” is possible and the rate should go to 3.75%.
• The total unsold inventory of new houses spiked from April to May 2022 in a HISTORIC month-to-month leap. SOURCE: Wolfstreet
  • The 447K highest jump in inventory since May 2008.
• What it means: Let’s play it conservatively. Under Trump:
  • $350k home at 2.5% = $1383/mo
• Under BIDEN:
  • $350k at 7% = $2329/mo
  • Almost $1,000/mo difference!
  • And you’re buying a LOT less house now than you could have under Trump. SOURCE: FRED

MISC.

• Eileen Gu is American again after competing for China in the 2022 Winter Olympics.

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