“The fact of the matter is that there’s a reason why you have the largest gathering of world leaders probably in world history here in Paris. Everyone else is taking climate change seriously.” Barack Obama.

Like a lot of the president’s statements on climate change this isn’t true. In fact there are lots and lots of people in the world who know it’s a hoax. And among them happen to be the ruling elite of the most significant carbon emitting nation of them all: China.

We know this because of a devastating report, The Truth About China, released today (12/02) by the Global Warming Policy Foundation, written by one of the West’s leading experts on the Chinese environmental economy, Patricia Adams.

She reveals that the China has no intention whatsoever of sacrificing economic growth by reducing its carbon dioxide emissions. So it’s going to be fun to watch the Chicoms strangle the Paris COP-21 conference in its crib and Obama pretends he sees nothing.

Many observers of American politics still do not quite grasp that Obama will end his presidency by seeking to get his opponents’ goat — and that his resentment will lead to some strange things said and done.

Insidiously and inadvertently, Barack Obama is alienating the people and moving the country to the right. But, counterintuitive as it seems, that is fine with Obama: Après moi le déluge.

By sheer force of his personality, Obama has managed to lose the Democrat Senate and House. State legislatures and governorships are now predominantly Republican. Obama’s own favorable ratings rarely top 45 percent.

In his mind, great men, whether Socrates or Jesus, were never appreciated in their time. So it is not surprising that he is not, as he presses full speed ahead.

Obama certainly has doubled down going into his last year, most recently insisting on letting in more refugees from the Middle East, at a time when the children of Middle Eastern immigrants and contemporary migrants are terrorizing Europe.

What remaining unpopular executive acts might anger his opponents the most?

Now that Cruz has overtaken Carson to run neck-and-neck with Trump in the Iowa Quinnipiac University poll, Cruz is looking a lot like a winner. Here are my top 10 reasons to back him.

10. He really knows economics -- not the ideologically driven pablum dished out at universities, but the real battlefield of entrenched monopolies against entrepreneurial upstarts.

As Asheesh Agarwal and John Delacourt report, he did a brilliant job at the Federal Trade Commission. Anyone can propose tax cuts. It takes real know-how to cut through the regulatory kudzu that is strangling America enterprise.

9. He really knows foreign policy. He is a hardline defender of American interests, but is not beholden to the bunglers of the Bush administration, unlike the hapless Marco Rubio – who, as the Establishment's last hope after Jeb Bush's belly-flop, is instantly recognizable as the tough-guy hero's cute younger brother.

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The truth is, Obama has no plan for containing ISIS, much less defeating it. Nor is he planning to get one any time soon. That’s because Obama doesn’t win wars. He lies about them.

Obama and his political allies believe that crime can’t be fought with cops and wars can’t be won with soldiers. The only answer lies in addressing the root causes, which means blaming Islamic terrorism on everything from colonialism to global warming. It doesn’t mean defeating it, but finding new ways to blame it on the West.

The unspoken idea that informs his strategy is that American power is the root cause of the problems in the region. Destroying ISIS would solve nothing. Containing American power is the real answer.

Obama does not have a strategy for defeating ISIS. He has a strategy for defeating America.

One by one, the giant investment funds are quietly switching out of government bonds, the most overpriced assets on the planet.

Nobody wants to be caught flat-footed if the latest surge in the global money supply finally catches fire and ignites reflation, closing the chapter on our strange Lost Decade of secular stagnation.

As of now (late November), roughly $6 trillion of government debt was trading at negative interest rates, led by the Swiss two-year bond at -1.046%. The German two-year Bund is at -0.4%.

The Germans and Czechs are negative all the way out to six years, the Dutch to five, the French to four and the Irish to three. Bank of America says $17 trillion of bonds are trading at yields below 1%, including most of the Japanese sovereign debt market.

This is a remarkable phenomenon given that global core inflation - as measured by Henderson Global Investor's G7 and E7 composite - has been rising since late 2014 and is now at a seven-year high of 2.7%.

Inflationistas in the West have been arguing for six years that the QE-fuelled monetary base is about to break out and take us straight to Weimar or Zimbabwe. They failed to do their homework on liquidity traps.

Yet their moment may soon be nigh. Catalysts are coming into place. Globalization is mutating in crucial ways.