Displaying posts published in

2016

“Interest Rates – ‘The Great Game’” Sydney Williams

I am not an economist, but it is clear that the path we are on leads to an unhappy place. It is determined by wishes and hopes, not reality and facts. I write about debt. And I write about interest rates that are set by government, not determined in the marketplace. Price fixing, whether by consortiums, monopolies or government and whether for goods, services, wages or money, is generally not wise. Hidden behind Islamic terrorists, the interminable presidential nominating process, corruption, and the hypocrisy of political correctness looms a debt crisis that has been abetted by artificially low interest rates. Approximately eight trillion dollars has been added to our national debt since the financial crisis and the “great recession” ended almost seven years ago.

To put what has happened in perspective: In 2000, U.S. Federal debt was $5.7 trillion. The Ten-year government bond yielded 6.6 percent. That debt and those rates supported a GDP of $10.3 trillion. At the end of 2015, U.S. Federal debt was $18.2 trillion; the Ten-year yielded 2.1%, while GDP was $17.9 trillion. In other words, while GDP expanded at a compounded annual rate of 3.8%, Federal debt grew at 8%, more than double that of economic growth. Despite debt tripling in those fifteen years, federal interest expenses remained about the same – thanks to a compliant (and not so independent) Federal Reserve. Shortly after his inauguration, President Obama caustically noted: “I found this national debt doubled, wrapped in a big bow, waiting for me as I stepped into the Oval Office.” Mr. Obama has returned the favor with interest, pardoning the pun. Since 2009, GDP growth has slowed further, while Federal debt has persisted, increasing at double the rate of economic growth. The situation is untenable. If deficits are not reduced and interest rates not allowed to rise during recoveries, what happens when the next recession hits?

The problem is not limited to the Federal government. State and local municipalities, with tax receipts down, demands on resources up and interest rates low, have increased debt. Making things worse are structural problems within states: Infrastructure is crumbling. Entitlements are ballooning, with the gap between benefits promised and assets on hand nearing a trillion dollars, according to Pew Research. (The Cato Institute puts the federal government’s unfunded liabilities related to Social Security, Medicare and Medicaid at $70 trillion.) Corporate debt exceeds $29 trillion, with leverage at a 12-year high. Because of myriad government hindrances, corporate debt has not been used for investment, but for stock-buybacks, dividends and mergers. Consumer debt, at $12.12 trillion, is approaching the levels of 2008, despite mortgage debt being more than a trillion dollars below where it was at that time. Since the federal government took over student loan programs in 2009, student debt has increased from $700 billion to $1.2 trillion, with 43% of debt holders currently in arrears or in default. What will happen to local governments, businesses and individuals when interest rates rise, as is inevitable?

‘Islamophobia’ Is Still Not the Problem: In Kansas, Another Case Study By Andrew C. McCarthy

In March, the Islamic Society of Wichita rescinded an invitation to Monzer Taleb, a longtime sympathizer of Hamas, the Palestinian branch of the Muslim Brotherhood and a formally designated terrorist organization under American law. Taleb was to speak at a fundraiser, but the Islamic Society canceled his appearance when community members protested and Representative Mike Pompeo (R., Kan.) publicly raised questions about the matter. The Wichita Eagle covered the controversy. In my opinion, the paper’s reporting stressed the allegations of “Islamophobia” posited by Islamist sympathizers in reaction to the protests. The paper also focused on what it described as “a trend by anti-government militias of targeting Muslims.” The impropriety of a prominent Islamic organization’s decision to give a platform to an apologist for a terrorist organization seemed of, at best, secondary importance. Consequently, last Thursday (April 7), I submitted a proposed op-ed to the Wichita Eagle. This weekend, a member of the paper’s editorial board informed me that the paper believed it had adequately covered the matter and therefore had decided to decline my op-ed. I have reproduced it, below.

As a federal prosecutor in 1993, when I led the investigation and trial of a jihadist cell that had bombed the World Trade Center and plotted an even more ambitious attack on New York City landmarks, the first Muslims I encountered were not terrorists. They were anti-terrorists: patriots who embraced America and Western liberty. They helped us infiltrate the cell, thwart the jihadist plots (including the planned attacks in Manhattan), and convict the terrorists.

There was a valuable lesson in this. Radical Islam poses a serious threat to America and the West, very much including a threat against American Muslims, our fellow citizens who reject radical Islam’s authoritarianism and savagery. While terrorists and their atrocities grab the headlines, much of the real battle takes place in Muslim communities. A key to winning that battle and protecting our security involves distinguishing our radical Islamic enemies from our patriotic Muslim allies.

The Muslim Brotherhood and its Palestinian branch, Hamas, which is a terrorist organization and has been formally recognized as such under American law for some 20 years, are on the wrong side of that divide. Representative Mike Pompeo did the people of Kansas — both non-Muslim and Muslim Americans — a great service by calling out the Islamic Society of Wichita (ISW) on its indefensible invitation to Monzer Taleb, a Hamas sympathizer, to speak at a fundraising event.

White versus White America White elites are the main reason Donald Trump’s campaign hasn’t sputtered and failed. By Victor Davis Hanson

Why do the angry white poor and working class support the unlikely populist Donald Trump — a spoiled bully who made and lost fortunes in part by gaming the system, who seems to take gratuitous rudeness and cruelty as a birthright, whose lifestyle is symptomatic of American excess, and who for the last half-century has embraced no ideology other than Trump, Inc.?

Perhaps it’s because Trump is a phantasm. He is not a flesh-and-blood candidate judged as crude or acceptable on the basis of the usual criteria. His attraction rests on about 100 sound bites over the last year that shattered taboos and attacked elite sacred cows, in a manner that no candidate has done in the past — or is likely to do in the future. Trumpism is nihilism. A reckless Trump had no political career or social capital to lose, unless one thinks that The Apprentice discriminates against the outrageous and crass, or that the New York real-estate industry blackballs prevaricators.

His supporters would prefer to lose with Trump than win with a sober and judicious politician such as Jeb Bush or Paul Ryan. If Trump or Hillary is elected as a result of white-middle-class furor or abdication, the Republican establishment pays either way. Trump’s constituents see him as their first and last chance at getting back at their enemies and, more importantly, the enablers of their enemies. Trump is a gladiator, and his supporters are shrieking, thumbs-down spectators. Sheathing his blood-stained blade would empty the stadium and put him back on The Apprentice. Does a Kim Kardashian suddenly stop flashing her boobs on YouTube in worry over what others might think?

Trump is not so much appealing to the ethnic prejudices of the white poor and working class, or playing on their perceived resentments of the Other. It’s more that he, a crass member of the elite (“It takes one to know one”), is resonating with their deep dislike of the hypocrisies of the white elite, both Republican and Democratic. Middle-class whites should be outraged at the cruel and gross manner in which Trump insulted John McCain and Megyn Kelly, but they are not. Perhaps, if asked, they would prefer to have the latter pair’s money and power if the price was an occasional little slapdown from Donald Trump. What they see as outrageous is not Trump’s crude “Get out of here” to Spanish-language newscaster Jorge Ramos, but rather the multimillionaire dual-citizen Ramos predicating his con on a perpetual pool of non–English speakers, many of whom have broken federal immigration law in a way a citizen would not dare break the law on his tax return or DMV application. For an angry Arizonan, ridiculing “low energy” Jeb is not as crude as Jeb’s own crude “act of love” description of illegal immigration. An act of love for exactly whom?

A History Lesson on Cuba for President Obama Did the U.S. really “exploit” pre-Castro Cuba? Humberto Fontova

“I know these issues are sensitive, especially coming from an American President. Before 1959, some Americans saw Cuba as something to exploit, ignored poverty, enabled corruption.” (U.S. President Barack Obama, March 22, Havana Cuba.)

“I believe that there is no country in the world including any and all the countries under colonial domination, where economic colonization, humiliation and exploitation were worse than in Cuba, in part owing to my country’s policies during the Batista regime.” (U.S. President John F. Kennedy, Oct 24, 1963.)

It’s understandable that two U.S. Presidents should hail the resourcefulness and guile of American businessmen. But liberal Democrats aren’t exactly renown for that sort of thing. And read right, the above statements imply exactly such praise—if somewhat backhandedly. The (seemingly) apologetic statements also imply condescension for those poor, stupid, corrupt Cuban natives who were such easy marks for sharp Yankee robber barons.

You’d never guess this from the media, Hollywood or your professors (or speechwriters for Democratic presidents), but in 1953 more Cubans vacationed in the U.S. (and voluntarily returned to Cuba) than Americans in Cuba. Yes, pre-Castro Cubans found the U.S. “a nice place to visit, but they certainly wouldn’t want to live there.” All this despite the friendliness and quaint habits of the natives — and despite the ability to emigrate from Cuba virtually at will and obtain U.S. visas virtually for the asking. During the 1950s and based in Florida, Sheriff Joe Arpaio would have been lonelier than the Maytag repairman.

Obama and Kennedy were describing a nation (pre-Castro Cuba) with a higher per capita income than half of Europe, the lowest inflation rate in the Western Hemisphere, the 13th lowest infant-mortality on earth and a huge influx of immigrants. Furthermore, in 1959 U.S. investments in Cuba accounted for only 14 percent the island’s GNP, and. U.S.-owned companies employed only 7 per cent of Cuba’s workforce.

The Pro-Israel Wing of the Pro-Israel Community Those who make no apologies for the Jewish State. Daniel Greenfield

Forget the alphabet soup acronyms of a thousand organizations. The pro-Israel community has only three elements.

There’s the anti-Israel side of the pro-Israel community. This misnomer calls itself Liberal Zionism even though, like the Holy Roman Empire, it is neither liberal nor Zionist. Instead illiberal anti-Zionist groups such as J Street provide a comfortable pathway from the pro-Israel community to the anti-Israel left by selling the illusion that it is possible to be pro-Israel while opposing the survival of Israel.

These illiberal anti-Zionists, like most domestic abusers, claim to be providing “tough love” by pressuring the Jewish State to make the “tough decisions” it needs to make in order to “end the occupation”.

These “tough love” and “tough decisions” though all translate into appeasing and aiding terrorists. The only people that the illiberal anti-Zionists, who clutch fistfuls of dirty Soros cash while hiding behind the blue skirts of the pro-Israel community, are willing to get tough on are Jewish victims of Islamic terror.

Somehow Abbas and Hamas never seem to come in for any tough love from these lovers of Israel who instead relish showing their tough love by kicking and beating the Jewish State at every opportunity.

And then there’s the great center of the pro-Israel community, which is not quite anti-Israel nor quite pro-Israel. Instead it hovers moderately and indecisively in the glorious middle. The center of the pro-Israel community is not really pro-Israel. Instead it’s for a two-state solution. It’s for Israel and for the PLO. It wants foreign aid for both. It wants peace. And no amount of terrorism will change its mind.

The marshmallow center of the pro-Israel community is the best recruiting ground for the anti-Israel left because its worldview is hypocritical and incoherent. It lobbies for arms for Israel and yet insists that peace is inevitable. It concedes that both sides have good arguments, but that Israel’s argument is slightly better. Or perhaps slightly less worse. It evades the issues to talk up Israel’s tech sector or the gay bars in Tel Aviv. It believes in boosterism, but not in Israel’s right to finally end terrorism.

The best and brightest culturally liberal youth naturally see through this nonsense and leave. And why shouldn’t they? On campuses they hear from one side that Israel is the devil while their side tells them that Israel is flawed, but basically means well because it is tolerant enough to concede most of the arguments of the other side. You don’t need to be a debate champion to see the trouble with this.

When its younger crowd is through singing “Shalom, Salaam”, it will go either left or right.

The center of the pro-Israel community is actually liberal and Zionist, but it is too liberal to be Zionist and too Zionist to blend well with the left. And so it is a walking contradiction that stands for nothing. It calls for tolerance and applauds its own humanism. It raises money for Israel, but it lacks all conviction when it comes to defending Israel. It is not pro-Israel in any way that truly counts.

Finally, there is the pro-Israel wing of the pro-Israel community. It is a testament to the perversity, neurosis and insecurity of the Jewish establishment that the pro-Israel wing is the smallest part of the pro-Israel community. The pro-Israel wing is easily overshadowed by the anti-Israel wing which lunches at the White House and the organizational behemoth of the center which pretends that it doesn’t exist.

The pro-Israel wing of the pro-Israel community consists of far smaller groups such as EMET, ZOA, AFSI and many others. It relies heavily on volunteers like the elderly men and women who spent years protesting the PLO deal, gathering in small groups on street corners and handing out fliers in the rain.

It is unglamorous. It is obscure. It is mostly unheard. And it will still save Israel.

In Australia, Anti-Israel Activists Maintain That Loving Feeling

My previous post tells of the adoption of a Palestinian activist’s play by the powers that decide the curriculum in the Aussie state of Victoria, aimed at teenagers. Quite a coup, leading to enormous satisfaction on the anti-Israel mob’s part.Where has the Aussie Jewish “leadership” been meanwhile?

Have they protested? Have they been fobbed off with the fact that also on the VCE playlist for 2016 is a play that uses an Aboriginal leader’s 1938 protest to the German Embassy over Nazi persecution of Jews as a peg on which to hang its themes? If so, they are woefully mistaken, for the latter play is in no sense a trade-off.

Soon to be launched, in Adelaide, is a novel by pro-BDS stalwart Professor Emeritus Stuart Rees of Jake Lynch’s Peace Centre.

Like the Palestinian activist’s play, Rees’s novel would appear to have a love story as hook on which to hang a political message.

The book is to be launched in May by Adelaide barrister Paul Heywood-Smith QC, a founding member of the Australian Friends of Palestine Association (AFOPA).

Palestinians: Erasing Christian History by Khaled Abu Toameh

For Palestinian Christians, the destruction of the ancient Byzantine church ruins is yet a further attempt by Palestinian Muslim leaders to efface both Christian history and signs of any Christian presence in the West Bank and Gaza, under the Palestinian Authority (PA) and Hamas. A growing number of Christians feel they are being systematically targeted by both the PA and Hamas for being Christians.

Bulldozers were used to destroy some of the church artifacts; some Palestinian Christians accused both Hamas and the PA of copying ISIS tactics to demolish historic sites.

“Where are the heads of the churches in Jerusalem and the world?… Where are the Vatican and UNESCO? Where are the leaders and politicians who talk, talk, talk about national unity and the preservation of holy sites? Or is this a collective conspiracy to end our existence and history in the East?” — Sami Khalil, a Christian from the West Bank city of Nablus.

The plight of Palestinian Christians does not interest the international community. That is because Israel cannot be blamed for demolishing the antiquities. If the current policy against Christians persists, the day will come when no Christians will be left in Bethlehem.

Palestinian Christians are up in arms over the destruction of the ruins of an ancient Byzantine church that were recently discovered in Gaza City.

The protest, however, failed to win the attention of the international community, especially United Nations agencies such as UNESCO, whose mission is to secure the world’s cultural and natural heritage.

The ruins of the 1800-year-old church were discovered in Palestine Square, in the Al-Daraj neighborhood of Gaza City, where Hamas is planning to build a shopping mall. The dramatic discovery of the antiquities did not seem to leave an impression on the construction workers, who removed artifacts and continued with their work at the site.

Turkey’s Circus in Washington by Burak Bekdil

During his visit to Washington, Turkish President Recep Tayyip Erdogan’s security guards harassed and physically assaulted journalists trying to cover the event; they also forcibly attempted to remove several journalists, although they were on the guest list.

An American reporter attempting to film the harassment received a kick in the chest.

Against this backdrop, Erdogan kept on adding to his own ridicule. “I am not at war with the press,” he said in an interview with CNN International. Then he went on: “We have never done anything to stop freedom of expression or freedom of press.

Turkish President Recep Tayyip Erdogan’s increasing Third-Worldish authoritarianism is taking new turns: it is now visible outside Turkey.

At the same time as Erdogan was heading for Washington for a nuclear security summit, the two journalists who he asserted last year “will pay a heavy price” had to stand trial at a second hearing on charges of espionage and terrorism, and with life sentences hanging over their heads. Their “espionage and terrorism” activity concerned a story they ran in May 2015 detailing how Turkish intelligence was transporting weapons to Islamist fighters in Syria.

“This is a tug of war between Turkish democrats and autocrats,” Can Dundar, one of the “spy/terrorists” told The Wall Street Journal. “The Western world has been supporting Erdogan for years and we were telling them that this was the wrong decision, not only for Turkey, but also for the Western world.”

The case had already turned into a diplomatic row between Turkey and a number of European Union nations, after Erdogan lashed out at the foreign consuls-general who attended the first court hearing in a show of solidarity with the journalists.

THE ENCYCLOPEDIA OF MILITANT ISLAM: BY BRYAN GRIFFIN WITH HERB LONDON AND JED BABBIN

A BOOK THAT BELONGS IN EVERY LIBRARY, EVERY HIGH SCHOOL AND EVERY UNIVERSITY
Published by the London Center for Policy Research http://www.londoncenter.org/

Resurgent militant Islam is an international movement that affects every continent. Too often, it is brushed off as a minority movement with limited impact, active only in the Middle East, or as reaction to the “root causes” and false narrative of Arab/Moslem dislocation in Palestine. The Encyclopedia of Militant Islam is unique in describing with meticulous research and detail the leaders, the funding, the tangled web of alliances, and the deadly goals and agenda of forty four of the most active militant Islamic groups and their deadly global agenda.

1979: Annus Horribilis—Modern Jihad Goes Global Book excerpt: Sebastian Gorka, ‘Defeating Jihad: The Winnable War’

Three momentous events mark 1979 as the year in which modern jihad, having evolved over the course of the century, emerged as a global movement: the establishment of a theocratic regime in Iran, the siege of Mecca in Saudi Arabia, and the Soviet invasion of Afghanistan. While the conditions for an Islamist explosion had existed for a long time, these events were the spark.

On April 1, 1979, following the overthrow of the shah and the return of the fundamentalist Ayatollah Khomeini from exile in France, the Shiite populace of Iran voted in a national referendum to become an Islamic republic. A new constitution outlined the central role of divine revelation in determining Iran’s laws, which would be based on the Koran and the Sunnah, the traditions of Islam. Then on November 4, a crowd of student protesters who were loyal to Khomeini and committed to taking their revolution to the “great Satan,” America, stormed the U.S. embassy in Tehran and took sixty-six Americans hostage. Most of them would remain in captivity until the day Ronald Reagan took Jimmy Carter’s place in the White House. Focused on rescuing their imprisoned countrymen, Americans had a poor understanding of the broader picture in Iran. The elderly Khomeini was not seen as a serious alternative to the royal Pahlavi family, who were friendly to the United States. But the revolutionary cleric and his new guard of religious fanatics were able to exploit the ancient Persian reserves of pride and resilience, quickly imposing a Shia version of theocracy in which Islam and politics were totally reintegrated. The mullahs of Tehran became the center of political as well as religious power in Tehran.
Mideast Two Revolutions

Demonstrators hold up a poster of exiled Muslim leader Ayatollah Khomeini during an anti-shah demonstration in Tehran in 1978 / AP

The Shia of Iran thus demonstrated to the world—including the Sunnis, many of whom would be envious—that the theocratic caliph- ate was viable in the modern world. It also demonstrated that Muslims not only should but could reject the Western separation of politics and faith. Modernity’s separation of Allah’s writ and governance could be reversed.

Just as important, the success of the Iranian revolution and the embassy attack proved that the United States, and by inference all other great powers, was not invulnerable. The Muslim world did not have to be the powerless victim of Western machinations, such as interference in Iran’s domestic affairs and overarching control of the geopolitics of the Middle East.