Tag: economy

“Not Enough Raw Material!” – Resource Wars Put Tungsten In Crosshairs As Western Rearmament Supercycle Looms

The UK just invested £71m to restart a tungsten mine, with an option on half the output. Other governments will follow. I should be pleased – I’ve spent years arguing the West needs to fund its own supply.

The problem is I’ve seen what happens next. In 2008, Japan and South Korea poured billions into securing critical mineral supply chains. They funded projects across Australia and Canada. The result: no material produced. The money went to a generation of junior mining executives. I remember them on their boats in Monaco – very grateful, very happy. Governments have good ideas. The people they back to deliver on them are sometimes another matter.

The challenge is that a government is a jack of all trades – it can’t tell a good mine from a bad one, so it hires engineers who write glowing feasibility reports with a waiver in the small print. And there is no shortage of people who call themselves management. Most of them are clowns who shouldn’t be left alone with a box of matches.

Japan and South Korea learned. They stopped trying to pick winners and pushed the risk onto their industrial base – the companies that buy the stuff. Those companies know how to protect a dollar. If the new money follows that model, the checks might land somewhere useful this time.

Tungsten markets

Michael Dornhofer, ISBP – assessment as of 11 September, 2026

Tungsten prices in the USA and Europe stay unchanged for another week and are still around 3000 USD/mtu WO3. Reports from China show their domestic price trend moved to an upward tendency.

The reason is quite simple: There is not enough raw material! As the APT price in China is only about one third of the western price, Chinese APT producers are not willing to buy western concentrates on western price level. But without a significant amount of imported raw material, the industry is running short on raw material. Soon it will become clear whether the Chinese domestic prices will go up towards western levels, or China might reduce output of downstream products for export.

The coming weeks will show us. And there’s another interesting development that even some “experts” overlooked. On 5 August, China placed several foreign entities under sanctions and banned them from operating in China. One entity on this list is the non-profit organization RBA.

RBA (Responsible Business Alliance) is the world’s largest industry coalition dedicated to promoting responsible business conduct. RBA has more than 600 member companies including Apple, Tesla, Microsoft, Amazon etc. and runs the RMI (Responsible Minerals Initiative) program.

Nearly the entire western downstream industry insists on RMI certificates for their total supply chain. When, due to the ban of RBA, no RMI audits and certificates are possible in China, western downstream producers cannot accept any tungsten material or downstream products coming out of China.

China wants to replace the RMI audits by audits performed by CCCMC (Chinese Chamber of Commerce for Metals & Chemicals). But knowing that China imports thousands of tonnes of concentrate from countries like Myanmar and North Korea, and so material from these countries are in the tungsten supply chain in China, it’s questionable who would trust Chinese audit certificates.

So, this easy-to-overlook new regulation in China could lead to an additional “firewall” between China and RoW, which might have a very significant effect on the tungsten world market.

Michael Dornhofer is founder of ISBP (Independent Supply Business Partner) in Graz, Austria. He has spent more than 20 years in tungsten, including 13 years at Wolfram Bergbau und Hütten, Sandvik’s tungsten business, and has worked as an independent agent and consultant to the tungsten and hard metal industry since 2019.

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‘As of Today, Ukraine Doesn’t Have a Steel Industry Anymore’: Mining CEO Reveals How Russian Strikes Are Destroying Kiev’s Economy

While Ukraine is ‘winning’ in the MSM headlines, its economy is being depleted by overwhelming drone and missile strikes.

If you look around the MSM today, all you’ll see is the image of oil refineries on fire in the Moscow region, after the largest drone attack on the Russian capital since the beginning of the war.

While there’s no denying that the attack on the last day of Russian elections is quite the ‘PR victory’ for Kiev regime leader Volodymyr Zelensky, it is nothing compared to the absolute havoc wreaked by the relentless Moscow strikes on Ukrainian economic targets.

We feel tempted to say that Russia’s new jet drones struck Kiev every day in September, but it is not entirely the case.

Drone attacks on Kiev were recorded on September 1, 2, 3, 4 and 5; on September 8, 9, 10 and 11; on September 15, 17, 18, 19 and today, 20.

It’s important to stress that these attacks often came in multiple waves per day, targeting military, economic and infrastructure targets.

Today, as the Globalists gloat with the disruption of Russian elections, Kiev residents wake up to a city shrouded by smoke from the relentless strikes.

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Trump Signs Memo To Remove Canadian Goods From US Federal Procurement

U.S. President Donald Trump has signed a memorandum directing the removal of Canadian-origin goods from the federal civil procurement system, following through on a commitment he made earlier this month.

The Sept. 16 memo authorizes the director of the Office of Management and Budget, the United States Trade Representative, and the Federal Acquisition Regulatory Council to “identify and take all steps toward removing or otherwise making non-available for purchase Canadian-origin items in the federal civil procurement system.”

The memo also directs U.S. Trade Representative Jamieson Greer to monitor “Canada’s continued treatment of U.S. origin goods in Canadian government procurement.”

The action follows Trump’s Sept. 8 directive to the General Services Administration (GSA) to remove Canadian-origin products from its Multiple Award Schedules, a government-wide contracting program that manages more than US$50 billion in federal procurement. The GSA schedules give federal agencies access to millions of commercial products and services.

“Everyone knows that Canada doesn’t let our Great Dairy Farmers sell into the Canadian Market, and that the only reason Canada makes Autos is because of previous disastrous Trade Agreements while other Presidents were in Office,” Trump said on social media after issuing the GSA directive.

Trump also said Canadian governments, including provincial governments, have “banned American Small Businesses and Companies from selling into their Government Procurement Markets.”

The procurement measures come amid an escalating trade dispute between the two countries.

Canada imposed new counter-tariffs on Sept. 8 covering about US$20 billion in U.S. imports, with rates of 15, 25, and 50 percent. The tariffs target products including steel and aluminum, dairy, appliances, agricultural equipment, pulp and paper, plastics and electronics.

The Canadian measures matched U.S. tariffs of 50 percent on about the same value of Canadian products imposed under Section 338 of the Tariff Act of 1930, effective Aug. 22.

Canada has also implemented a “Buy Canadian” policy, while all provinces except Alberta have restricted or prohibited the sale of U.S. alcoholic products, or imposed tariffs on them, and have also enacted measures to prioritize Canadian suppliers for government contracts.

Since Canada first announced its intention to impose counter-tariffs in response to the new U.S. tariffs that went into force on Aug. 22, Trump also announced new 50 percent tariffs on Canadian vehicles and auto parts beginning in 2027. He also said he would ban the sale of products made by Canadian aviation giant Bombardier in the United States unless they are made in America, and announced new import bans on certain Canadian goods beginning on Sept. 29.

Some of the Canadian products banned for U.S. import include most alcoholic products, certain dairy products, and motorcycles.

Trump said while visiting Ireland on Sept. 12 that the two countries could have a trade deal “fairly soon,” while repeating his criticism of Canada’s trade practices.

“We actually have a good [relationship] with Canada, but the United States has been ripped off for 50 years by Canada,” Trump said.

Carney said on Sept. 14 that he welcomes the president’s comments that a deal could be reached soon.

“We’re ready to sit down and negotiate that and move it forward,” Carney told Bloomberg.

Carney has said that diversifying away from the United States is a priority for his government.

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Brussels Is Robbing America Blind — And Someone In Washington Is Letting Them Get Away With It

In recent years, Brussels has conducted a bitter economic war against America’s most successful companies: Google, Apple, Facebook and Amazon. Brussels uses an array of fines, investigations and even forcing the companies to hand over key technologies in return for exemption from other regulations. Brussels even has imposed a number of very far-reaching rules that are nothing more than a large scale expropriation of their IP. Google, Apple, Facebook and Amazon have already had to pay out to the European Union many billions of dollars, not because they failed in any way to come up with better products and services than their competitors, but because Brussels’ draconian rules and regulations are so difficult for them to comply with.

President Trump saw it and said enough.

When on July 24th the US President Donald Trump announced the opening of a Section 301 investigation concerning the campaign of fines and regulation of large tech companies by Europe, he started by criticizing the European Commission’s latest move against Google. In two separate decisions Google has been fined for almost $1 billion for alleged breaches of the Digital Markets Act. The US President called those fines “another example of Europe robbing American companies and, in turn, the American taxpayer”.

U.S. Trade Representative Jamieson Greer laid out the reasons why a Section 301 investigation into the EU’s fines on Google and other big tech companies is fully warranted. “The European Commission’s practices with respect to Google amount to de facto forced technology transfer and intellectual property theft, supported by unfair and unreasonable financial penalties,” Greer said in a statement. He noted that Google’s EU fines alone would total more than two percent of the EU’s annual budget.

More than seven weeks have now passed since Trump gave his Trade people their instructions concerning the EU’s ‘robbing’ of American technology companies.

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Mapped: The U.S. States Hit Hardest by Canada’s Tariffs

Trade talks between the U.S. and Canada have broken down, with Canada responding to broad U.S. duties with dollar-for-dollar tariffs on key American products.

This map shows the value of exports in each U.S. state covered by Canadian counter-tariffs, using the latest data from BBC for September 2026 from Scotiabank and Statistics Canada. Figures are in U.S. dollars.

States are shaded according to the value of their exports to Canada that are subject to Canadian duties.

Tariff Blues in the Midwest

The Great Lakes region stands out on the map, reflecting its central role in the roughly $870 billion bilateral trading relationship.

Ohio and Illinois have more exports covered by Canadian tariffs than any other states, at $2.3 billion and $2.1 billion, respectively. They are followed by Pennsylvania at $1.8 billion.

The table below lists each state alongside the value of its exports covered by the new Canadian tariffs.

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Democrats Still Don’t Know How to Read Charts

Democrats can be unintentionally hilarious sometimes. Gov. Gavin Newsom (D-Calif.) reposted a chart on X Tuesday claiming housing prices are “the most unaffordable in history,” and that it was Trump’s fault.

There was just one huge problem.

The chart Newsom shared showed that the housing affordability gap actually widened during Joe Biden’s presidency, and X users noticed almost instantly, flooding his replies with screenshots of the very data he’d just posted as though it helped his argument. It didn’t take long for the pile-on to turn Newsom’s own post into a meme about his reading comprehension.

But the funny thing about it is that Democrats keep doing this. In July 2025, the Democratic National Committee posted a chart that they thought proved grocery prices were spiraling out of control in Trump’s second term.

The chart told a different story. It showed a huge spike under Biden. The DNC had unwittingly undermined its own attack on Trump. Social media users mocked the party within hours, dissecting the chart line by line, forcing the DNC to quietly delete the post… not that that stopped us from making fun of them anyway.

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“I’d Be Okay With That”: Trump Says He’s Open To Chinese Automakers Building Cars In US

In comments that most people missed on Friday, President Donald Trump suggested that he’s open to letting Chinese automakers build cars on US soil. 

Speaking with Fox News, Trump said that while he wouldn’t allow Chinese cars to operate in the United States because the US market would be overrun – he might be open to manufacturing them here. 

“We don’t allow his cars into the United States, and I never did,” he said, referring to Chinese leader Xi Jinping, noting that then-President Joe Biden had kept his policies on Chinese cars. 

“If China wanted to come in and open a plant to build their cars here, I’d be okay with that. Japan does it, but they hire our people. The big thing is they hire our people,” he continued, adding “What I don’t want is them to build in Mexico and just … build it inexpensively and ship it across the border.”

As The Epoch Times notes further, a regulation imposed by the Biden administration in early 2025 effectively bans all Chinese automakers from selling or building passenger vehicles in the United States. Washington also maintains more than 100 percent tariffs on Chinese electric vehicles.

Trump’s remarks came ahead of Xi’s planned visit to the United States later this month. The president said on July 23 that he would discuss artificial intelligence with the Chinese leader during the visit. The two leaders last met during Trump’s visit to Beijing in May, where Trump formally invited Xi and his wife, Peng Liyuan, to the White House.

The Alliance for Automotive Innovation, a Washington-based group representing major U.S. automakers, on Sept. 3 urged Congress to permanently ban the sale, import, and manufacture of Chinese-connected vehicles, hardware, and software before the current congressional session ends.

“Right now, Chinese automakers are dumping subsidized vehicles with connected software and hardware around the world,” John Bozzella, the group’s president and CEO, said in a letter to the congressional leadership.

Bozzella warned that China is gaining market share in Europe, Australia, Southeast Asia, Mexico, and South America with vehicles that can collect, process, and transmit “sensitive vehicle and consumer data to the Chinese Communist Party.”

It hasn’t happened yet inside the United States, he said. He urged lawmakers to act quickly, given the scale and urgency of the threat.

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The Crippling Effects of Unnecessary War

In California, gas stations are facing a unique challenge. The station signs are only configured to go up to $9.99 per gallon and at several stations the price of diesel has reached that maximum. Diesel prices are higher than they have ever been in history.

Worse, according to some news reports the advertising of the maximum price of $9.99 per gallon is meant to signal to truck drivers that they have run out of diesel altogether. Expensive diesel is a hit to the economy, but running out of the fuel at any price is a whole different kind of crisis.

Our highways are filled with semi-trucks burning diesel to bring the products we depend on to the markets. Our freight trains use diesel to transport what is not transported by truck. When the price of diesel increases, the cost of everything moved by that diesel also increases. This is one reason we are seeing much more inflation than the government wants to admit.

The diesel crisis is getting so serious that even President Trump has been forced to admit it. Of course, instead of taking at least part of the blame over his war of choice against Iran and his continuation of the proxy war against Russia through Ukraine, he is blaming Ukraine’s military strikes on Russian energy infrastructure.

President Trump is now asking Ukraine to stop attacking Russian energy resources because diesel is a global commodity and the scarcity produced by the attacks is hitting us here at home. But the strikes deep inside Russia are guided by US intelligence, which provides the targeting data for Ukraine.

The Russia/Ukraine war is only part of the problem. Despite President Trump’s bluster about controlling the Strait of Hormuz, the fact is Iran is in control and very little oil – or anything else – makes it out without Iranian approval.

Yemen’s Iran-allied Houthis joining the fight only makes matters worse. Over the weekend they attacked Saudi Arabia’s bypass pipeline, taking much more oil off the market.

The real problem here is not oil or diesel. The real problem is that wars of choice spin out of control and destroy the economies of those who launch them. Empires throughout history have been undone by endless overseas wars. No amount of bragging about the size and strength of our military can change this reality.

Now we are seeing the chickens coming home to roost.

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Americans Were Hungry. FDR’s Government Was Killing Pigs to Raise Prices.

In 1933, about one-quarter of America’s workforce was unemployed. Hunger and malnutrition were widespread, families had lost homes and savings, and millions were trying to survive an economic catastrophe.

Franklin Roosevelt’s government responded to part of that crisis by paying farmers to destroy things Americans could use.

From the Library of Congress:

In a country with abundant resources, the largest force of skilled labor, and the most productive industry in the world, many found it hard to understand why the depression had occurred and why it could not be resolved. Moreover, it was difficult for many to understand why people should go hungry in a country possessing huge food surpluses. Blaming Wall Street speculators, bankers, and the Hoover administration, the rumblings of discontent grew mightily in the early 1930s. By 1932, hunger marches and small riots were common throughout the nation.

In June of 1932, nearly 20,000 World War I veterans from across the country marched on the United States Capitol to request early payment of cash bonuses for their military service that weren’t due to be paid until 1945. The marchers, who the organizers called the “Bonus Expeditionary Force” but who became widely known as the Bonus Army, spent several days in Washington, D.C., pressing their case, but a Congressional bill to pay the bonus was defeated. On July 28, U.S. troops and tanks commanded by General Douglas MacArthur dispersed the marchers and destroyed their makeshift camps in the city.

The Agricultural Adjustment Act rested on an economic theory that sounded tidy in Washington. Farm prices had collapsed because farmers were producing more than markets could absorb.

Reduce the supply, officials reasoned, and prices would rise, and higher prices would restore farm income.

Farmers desperately needed help. The question is what Washington chose to do with that desperation.

In the summer of 1933, the government launched an emergency hog program. Federal officials bought about 6.2 million young pigs and another 222,000 sows to remove them from future markets.

Pigs that couldn’t economically be processed for food were turned into grease and tankage. About 100 million pounds of edible pork did reach relief programs.

The USDA’s own history says officials expected the slaughter to provoke public outrage but considered the action necessary. Agriculture Secretary Henry Wallace later acknowledged how disturbing the policy looked, describing the destruction of growing production as a grim consequence of an economy Washington believed had become badly unbalanced.

The administration understood exactly what it was doing.

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DATA CENTER MYTH BUSTED: No Jobs, Higher Debt, Slower Housing

The data-center gold rush has marched into local communities on one familiar promise: Big Tech brings jobs, growth, and prosperity.

A new 75-page academic working paper found something very different.

Finance scholars Liu Ee Chia, Jess Cornaggia, David Haushalter, and Qiang Wang compared U.S. counties with operational data centers against “near-miss” counties that attracted proposals but never got operating facilities.

They found little corresponding improvement in fiscal capacity, local employment, or business formation.

Instead, local-government borrowing costs climbed as data-center development grew. Water-bond yields rose 26 basis points more in water-scarce counties than in water-abundant counties.

The paper also found higher school-bond yields in major data-center hubs, where housing-price growth slowed. The authors said those patterns aligned with a weaker expected property-tax base.

“Overall, we conclude that investment without labor strains public infrastructure without generating widespread agglomeration gains.” — Liu Ee Chia, Jess Cornaggia, David Haushalter, and Qiang Wang

Saagar Enjeti highlighted the study’s bottom line: data centers can pull capital and utilities into a county without delivering the broad labor-market gains that politicians and corporate developers sell.

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