an american prisoner, doug ramsey, who ensued an appalling seven years in a bam buie cage in the jungle at the handeds of the vet congress once told his i interrogators he thoughts his come patriots presence in their country was prompted 10% by concern of fer vietnamese and the rest by determination 0 check mother say moor say stung, his cappers demand why doout no fight him in china? we do not like the chinese either? the decisions were escalation by successful u.s. administrations, common at the bewilder. of posterity because key players recognizes the rickety, rack ity character of the regime on which they depended to provide an -- in great states unsurprisingly like to fight the kind of wars that suit their means rather than the ones they're got. america's leaders deludessed themselves but all the difficult tide, cultural, social, political, could be overcome by an overwhelming application of fire power, as if by using a flamethrower to weed a flower border. since this was the core policy failure, it seems to me wrong to lay extravagant blame upon america's generals, unimpressive th

you get it okay i mean, that was almost too clever by half joining us now is doug ramsey.ing to make sense of the news out of china all morning, what it's done one way or the other to the futures this morning. i want to start there, actually. then maybe we can move onto where else do you think the market may be headed before the end of the year is out >> it's interesting. the market has a funny way of causing the news rather than the other way around sold off and then we got a blink from chairman powell then we got some recessions on trade and now most recently from china. so it's actually a big part of the way that we look at things economic causation very often is in the reverse the market will cause the news i think that's what's going on right now with respect to trade and fed policy >> and so what are you doing about that >> we've been cautious for quite a while. we're assuming that we're in the midst of a new cyclical bear market and quite frankly, if you look at declines in foreign stocks, you don't have to make that forecast i mean, it's there it's happened. foreig