China is very likely to wage war against Taiwan within two years. After this window, the timing will be very difficult to find again. Just as in early 1975, the Vietnamese communists seized the oil crisis window and immediately went all-in, militarily gambling to annex South Vietnam. This window occurred after the U.S. stock market crash in 1974, when unemployment surged to 8%. At that time, Vietnamese Communist Party Secretary Le Duan, after the 1974 U.S. economic stagflation, skyrocketing unemployment, and Congressional cuts to aid to South Vietnam—made the astute judgment that America would be preoccupied with internal issues and decided to immediately take the military gamble and launch war. Currently, the United States is at the tail end of a 2020-2027 economic cycle—oil prices remain elevated, unemployment has climbed for 35 consecutive months, gold prices decoupled from real interest rates, S&P 500 monthly line dulled…these signals point toward a possible stagflation-recession cycle in the next 6-18 months, and the end of an economic cycle is often the beginning of political change.

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