1. Inflation metrics are falling cyclically. / The drivers of secular inflation are rapidly accumulating.

2. US manufacturing and freight are well into a recession. / The US economy is not in a recession.

3. Our structural budget deficits are due to excess spending. / Our structural budget deficits are due to a lack of revenue.

4. The US average savings rate is nearing historical lows. / Accumulated savings are near all-time highs.

5. Protectionism is inflationary and an impediment to growth. / We are going to see an increasing number of protectionist policies.

6. The US has, by far, the best university system in the world / The US is failing to adequately educate our population.

7. Americans are, on average, not in favor of increasing legal immigration. / The US will increase legal immigration.

8. The US has better demographics than Europe and the developed countries of Asia. / The US has terrible demographics.

9. Climate change is accelerating and will manifest in calamitous ways globally. / Policies that propose disinvestment from domestic oil and natural gas production are counterproductive.

10. Inflation is a tailwind for near-term corporate topline growth. / Inflation is a headwind for long-term profit growth.

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