The Contrarian

“In the investment markets, what everyone knows is usually not worth knowing.”

China and their “Social Credit Score”

If you are interested in learning more about China from someone who grew up during the Cultural Revolution, when the educated were arrested and killed, and the illiterates became the prison wardens, listen to our friend Li Schooland in a segment with John Stossel on Reason TV:

https://www.youtube.com/watch?v=-N80zgzxUIE

In China, the government gives millions of individual a “Social Credit Score” from their postings on social media. If you love what the government does, you have a high score. If not, you are labeled as ‘suspicious’ and are subject for closer surveillance.

How long will it be before this is done in the U.S.? The latest bill in Congress would establish a “social media fake news” entity. Their responsibility would be to identify “fake news” and get it deleted.

Sounds good? We ask, who will be the people doing this? What will be their own bias? It is known that some of the outside organizations performing similar services for major US social media firms are as left wing as you can get. Yet they are paid to do this task.

Our Founders were wise and gave the Constitution the First Amendment of Free Speech. We should not trample on that.

You can read more of our current analysis and forecasts on the global stock markets, bond markets, and global economies in our award-winning WELLINGTON LETTER, now in its 41st year.

Visit DohmenCapital.com to learn about our other services exclusively for serious traders and investors.