Hey Peter Navarro here with the weekend edition of the Taking Back

Trump's America podcast and Sub stag as you know on the weekends we like to do a

little market and economy wrap and certainly it was interesting this week.

So here we go. Trust issues with Modi and a cap sizing commercial real estate.

Slowly like a capsizing ship, global stock markets are

rolling over while bond markets are rallying in the face of a persistent inflation

that augurs a long-term period of high interest rate. of a

face of a persistent inflation that augurs a long-term period of high interest rate austerity.

We've seen no market crash yet.

Indeed, the stock market has exhibited strong bullish pulses at times over the last year.

Yet, reviewing the tea leaves that long dreaded recession driven bear market

may finally be at our door.

What caught my eye this week in the news was the visit of Prime Minister Norendamode to the White

House and Capitol Hill.

There is also mounting evidence of a meltdown in the commercial real estate market.

Modi was elected as the Trump of India.

He is a populist economic nationalist, much like Trump.

He's ruled the unruly beast of India with an iron hand and he has performed surprisingly well even in the face of a

worldwide pandemic. The big advantage India has is its population, the largest in the world. It is skewed to a much younger

demographic than many other countries around the world. This gives India the twin advantages of a robust labor force willing to work for cheap wages and a

low relative a lower relative burden of pensioned retirees on the government budget.

While India should be a natural ally of the United States,

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