Did China’s DeepSeek NUKE the American AI industry?



Nvidia shares plummeted by 18% on Monday, losing $590 billion in market cap — the largest in market history — after the release of China’s new AI model, DeepSeek.

“That led to panic, especially in the tech part of the stock market in the AI bubble. They’re worried that it might start to pop,” Jill Savage of “Blaze News Tonight” tells investment banker and author of “MoneyGPT” James Rickards and co-host Matthew Peterson.

“What’s interesting, the Chinese DeepSeek is not necessarily better than the artificial intelligence and GPT-type applications that we have in the United States, but it is a lot faster, and that’s the key,” Rickards explains.

“The companies that suffered, Nvidia in particular, are hardware manufacturers. If you can do the same work faster and with a lot fewer chips, obviously that’s going to hurt the chip manufacturers like Nvidia,” he adds.


However, Rickards notes that “the Chinese have a long reputation of cheating in technology, stealing intellectual property.”

“Is this thing really just as good, but much, much faster? Maybe only using 10% of the power and the processing power that we use, or were they able to cheat in the training set?” he asks. “The training set is all the material that the large language models and the artificial intelligence algorithms sort of read in order to learn how to answer questions and basically interact with humans.”

“We need to learn more about it. It is a dramatic breakthrough. I don’t want to say that the Chinese did cheat, I don’t know that for a fact. I do know, they’ve done that in other cases, so I think we need to learn more,” he adds.

Peterson believes this was “timed in an interesting way,” as it was right after Trump came into office.

“Right, I definitely expect volatility in the U.S. stock markets now,” Rickards says, though he notes the timing means more for China.

“As far as China’s concerned, their economy is in deep trouble, and there was one of their prominent economic commentators recently who wasn’t arrested, but he was told to shut up basically because he was speaking candidly about their GDP,” he explains, adding that China might even be “in a slight recession.”

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Trump chimes in on reconciliation efforts



Following President-elect Donald Trump's landslide victory on November 5, the MAGA world got to work on laying out the first stretch of its legislative agenda, known as reconciliation.

Trump will have the advantage of working with a Republican majority in both the House and the Senate, opening his options for implementing his MAGA agenda primarily addressing tax policy and immigration. However, there has been some divergence among Republican leadership on how the agenda should be approached.

'Get smart, tough, and send the Bill to my desk to sign as soon as possible. MAKE AMERICA GREAT AGAIN!'

Senate Republican Leader John Thune floated the two-pronged approach, which would split the agenda into one border bill and one tax bill. At the same time, newly re-elected House Speaker Mike Johnson has insisted on one "big, beautiful" reconciliation package.

While Republicans held conversations on the sidelines, Trump has largely refrained from publicly committing himself to either approach.

"Members of Congress are getting to work on one powerful Bill that will bring our Country back, and make it greater than ever before," Trump said in a Sunday post on X. "We must Secure our Border, Unleash American Energy, and Renew the Trump Tax Cuts, which were the largest in History, but we will make it even better - NO TAX ON TIPS."

"IT WILL ALL BE MADE UP WITH TARIFFS, AND MUCH MORE, FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE U.S. FOR YEARS," Trump continued. "Republicans must unite, and quickly deliver these Historic Victories for the American People. Get smart, tough, and send the Bill to my desk to sign as soon as possible. MAKE AMERICA GREAT AGAIN!"

Although Trump publicly supported Johnson's "big, beautiful" bill, the president-elect reportedly doesn't actually have a strong preference toward either approach. Rather, Trump simply wants to secure as many wins as he can.

"While I favor one bill, I also want to get everything passed," Trump told Hugh Hewitt on Monday. "The border is going to be secure. We're going to start it immediately."

"I have a lot of respect for Senator Thune," Trump said of the Republican leader, who prefers the two-bill approach. "I'm open to either way, as long as we get something passed as quickly as possible."

In addition to undoing policies put forth by the Biden administration, Republicans are working to address some time-sensitive issues like the debt ceiling and the Trump tax cuts. Trump's world is aiming to have a reconciliation package on the president's desk by April.

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Trump announces big plan to juice the economy: 'GET READY TO ROCK!'



President-elect Donald Trump announced a plan to encourage business investment in the U.S. for his second term in the White House.

Polling after the astounding results of the election found that many Americans voted on the basis that Republicans could be trusted to manage the economy far better than Democrats. Among the economic concerns was the high inflation that hit American budgets during the Biden administration.

Wall Street titans, including bankers and investors, expect that Trump's policies will be a boon for big business.

Trump said that he would incentivize business investment by cutting regulations.

"Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals," wrote Trump on social media.

"GET READY TO ROCK!!!" he added all in caps.

Trump's second term will likely be very friendly to business interests and expanding the economy. After he was declared the winner in November, the stock market soared to historic highs on the hope that profits might increase under his policies.

A poll in 2023 found that 54% of respondents trust Republicans on the economy while only 45% said they trust Democrats on the economy. 51% of respondents said that they believe the economy was in a slump.

A New York Times report published Tuesday found that Wall Street titans, including bankers and investors, expect that Trump's policies will be a boon for big business.

Jamie Dimon of JPMorgan Chase said that his industry was "dancing in the street" over Republican victories in the Oval Office, the Senate, and the House of Representatives.

Trump has also announced a plan to impose heavy tariffs on Mexico, Canada, and China in order to pressure them to increase efforts to stop illegal immigration as well as the flow of illicit drugs from their countries into the U.S. Some free-market proponents have warned that Trump's love of tariffs could push the U.S. into trade wars with other nations that would likely lead to job losses and higher prices on imported goods.

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Elon Musk’s WARNING for America: ‘Tragic situation’ if things don’t change



Elon Musk may be a tech billionaire who’s trying to colonize Mars, but his political views are reminiscent of the common, hardworking American on Earth.

He made that clear in a recent podcast interview with Lex Fridman, where Fridman asked Musk what the philosophy behind his endorsement of former president Donald Trump is.

“People tend to take an endorsement as ‘Well, I agree with everything that person has ever done in their entire life, 100% wholeheartedly,’” Musk began. “That's not going to be true of anyone.”

It’s not the only reason Musk has endorsed Trump, but he was thoroughly impressed by Trump’s immediate reaction to the attempt on his life.

“Trump displayed courage under fire,” Musk told Fridman. “He’s just got shot, he’s got blood streaming down his face, and he’s fist-pumping, saying ‘Fight.’ You know, that’s impressive. You can’t feign bravery in a situation like that. Most people would have been ducking.”

Musk has noticed that while Trump is “strong and courageous,” Biden “has trouble climbing a flight of stairs.”

“I mean, who do you want dealing with some of the toughest people, you know, other world leaders who are pretty tough themselves?” he explained.

The billionaire is also in support of Trump’s policies, telling Fridman that “we want a secure border,” “safe and clean cities,” and to “at least slow down the spending.”

“We’re currently spending at a rate that is bankrupting the country. The interest payments on U.S. debt this year exceeded the entire Defense Department spending. If this continues, all of the federal government taxes will simply be paying the interest, and then you keep going down that road and you end up in the tragic situation that Argentina had back in the day,” he explained.

“I think we should not take American prosperity for granted,” he continued. “We’ve got to reduce the size of government, we’ve got to reduce the spending, and we’ve got to live within our means.”

Dave Rubin of “The Rubin Report” is aligned with Musk’s sentiment.

“Elon Musk is still fighting the good fight, as usual,” Rubin comments.


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US economy tops projections, posts largest-ever GDP increase in third quarter just days before the election



The United States economy posted a record-breaking rebound in the third quarter and has gone a long way toward recovering from the devastation reaped by the coronavirus-related shutdowns, according to new data released by the Commerce Department.

From July through September, the U.S. gross domestic product grew by 7.4%, which equals an annualized rate of 33.1%, the Bureau of Economic Analysis announced in a news release on Thursday. It's the largest quarterly GDP gain ever recorded.

Image Source: U.S. Bureau of Economic Analysis

The news, which comes just five days before the election, could provide a boost to President Donald Trump's re-election chances. The president will undoubtedly tout the new numbers as evidence that he has successfully led the country through difficult economic times.

Though economists largely expected the GDP to rebound at an unprecedented rate in the third quarter, Bloomberg News noted that the increase still managed to top economists' most recent prediction of a 32% increase, and blew away their forecast of an 18% increase from a few months ago.

The third-quarter gains were powered by major increases in consumer spending and business and residential investment, according to the BEA news release. The industries that benefitted most from increased consumer spending were health care, food services, motor vehicles, and clothing and footwear.

While the latest update is certainly good news for the economy, it should be noted that the third quarter gains followed the second quarter's 31.4% plunge, which was also a record-breaking number. The economy is still climbing out of the deep hole it plunged into in April and May as the pandemic thrust the nation into an economic standstill.

According to The Hill, about 10.7 million of the more than 20 million jobs lost during the pandemic have yet to be recovered. The nation's unemployment rate has improved to 7.9% over the last several months, but that figure is still more than double its pre-pandemic level.

"This is going to be seized upon by both ends of the political spectrum as either evidence of the strength of the post-lockdown economic rebound or a cursory warning that the gains could be short-lived," James McCann, senior global economist at Aberdeen Standard Investments, told CNBC.

"[But] the reality is that the GDP numbers demonstrate that the U.S. economy did indeed rebound strongly as lockdown measures were lifted," he added.

These numbers PROVE today's COVID-19 economy under Trump might fare BETTER than under Obama
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These numbers PROVE today's COVID-19 economy under Trump might fare BETTER than under Obama

'That's how sick they are': Levin calls out the Left for cheerleading a recession despite another strong jobs report

Friday brought another strong jobs report, yet President Trump's detractors in the media appear too busy trying to conjure up a recession to notice it.

Friday night on the radio, LevinTV host Mark Levin discussed the day's strong jobs numbers alongside Federal Reserve Chairman Jerome Powell's comments that the U.S. isn't headed for a recession and put those up against the anti-Trump media's nonstop economic doomsday predictions.

According to a report from CNSNews, the most recent jobs report shows that a record number of 157,878,000 people were employed in August — the 21st record set under the Trump administration. The numbers, Levin added, were especially good for black and Hispanic workers.

"These numbers are incredible, and we should be celebrating them," Levin said. "The American economy, when let loose by a president and a Congress — a president slashing regulations, a president slashing taxes, creating a healthy, vibrant economic environment — has positive consequences for the American people."

Yet, Levin continued, many in the anti-Trump media aren't celebrating the new jobs numbers; instead, they're cheerleading for a recession, which the chairman of the Federal Reserve  says isn't likely.

"The media on all platforms — all platforms, every platform — has been shouting the word 'recession' for a month," Levin pointed out. "But they won't give Trump any credit. They won't give capitalism any credit. Instead, on and on and on about the wage gap; on and on about the rich and the poor; on and on with the Marxist pablum that is regurgitated by the Democrats who want to be the nominee for president, that is regurgitated by the drama queens and the drama kings who call themselves journalists and anchormen and hosts."

"People in Hollywood urging, pushing, hoping for a recession even though it would create hardship for tens of millions of people," Levin remarked, "because they want Trump to take a fall. That's how sick they are."

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