Boom Bust Boom and Gods of Egypt By Marion DS Dreyfus

BOOM BUST BOOM

Directed by Terry Jones, Bill Jones, Ben Timlett and the Monty Python graphics loons

Here is a suitable companion piece to the exceptional film The Big Short, which should have won Best Picture from many points of view. Not only did Big Short illuminate the precursor rumblings of the housing crash of 2008, using quirky characters and mounting excitement as the viewer realized he was sympathizing with these boiler room guys who were riding the crescendo of disaster to clean up, but it was a fast-moving, appropriately clever script that kept you glued, and it was all a story most people did not know — unlike the well-bruited tale told in the otherwise excellent Spotlight.

After all, everyone knew of the Boston priest sexual abuses of children. As opposed to the fact that few people — even now — understand what went down with the burst bubble of unsecured mortgages-a-go-go instigated by the Clintonian forced order to make mortgages “more democratic.” So the underemployed, the irresponsible, the assetless, the no-down-payment people all had their shot at owning homes they could not, in the end, afford.

I rarely recommend adult films to those underage, but this film to my mind, and other reviewers expressed a similar thought, is imperative viewing for college, even high school and the older elementary school child. It should be mandatory even in assisted living communities, too, because the elderly are often gulled by the unscrupulous customer service associates of the investment houses, chop shops and brokerages.

It makes lucid argument for a familiarity with what has been called “irrational exuberance” in markets, and the filmmakers make exorbitantly fabulous use of the Monty Python iconic graphics and sound tools to bring home the carefully edited and compiled remarks of top financiers, economists, bankers, actors and journalists.

This is a fitting companion piece to the noteworthy, but sophisticated offering of The Big Short. Together, these two form an irresistible case for investment sanity, consumer awareness of risk, banking responsibility, and fiduciary gravitas.

BBB goes back to the 17th century Dutch tulip craze to the present, in typically kicky Python graphics that rise and fall, drop off and explode. They outline the South Seas ticket fad. They go through the periodic boom bubbles, what one well-known pooh-bah called “irrational exuberance,” that precedes devastating busts. The Great Crash of ’29 comes in, with illustrations and clips of homeless soup lines and tattered families, followed by the 2008 collapse of uncollateralized debt obligations, mortgages sold by banks across Europe as well as the U.S.

Comedy bits, vox pops, lively commentary and B/W illustration that come to life, and a stew of financial experts like journalists John Cassidy and Paul Masson, Bank of England’s Chief Economist Andy Haldane, and Nobelists Daniel Kahneman, Robert Shiller and even a female or two.

One wonderful, whimsical, but fascinating segment takes place on Monkey Island, where a sociologist studies the monkey inhabitants of the island for what their irrational behavior sheds on the irrationalities of human beings.

A spectacular offering. The audience of hard-bitten New York reviewers sat rapt and riveted to the screen — and afterwards, they actually applauded the film, so amazingly clever, yet absolutely unmistakably factual …and sane.

It bypasses the wages of lecture, and is fun, evoking laughter often. It presents nibblets from beloved cartoons like “South Park”, the animatronic and muppet figures are extrapolative enough not to implicate the personae they represent, and the likes of Alan Greenspan and his 40-year run of wrongness gets a sharp drubbing from the Krugmans, Terry Joneses and John Cusacks. Bernanke puts in a B/W appearance here and there.

Knowing what this film communicates, one wonders whether the film ought instead to have been titled BUST BOOM BUST… the writers don’t see crashes and collapses as anything but predictably normal, whenever people get too cozy with ever-escalating prices, financial placidity while forgetting the attendant risks in all investments, and overreach.

Whatever happens next Oscar time, they should create a new category for BBB to sweep the golden statuettes off that shelf.

The Trump Test for Principled Republicans Chris Christie flunked. Nikki Haley and Ben Sasse aced it. Let’s see how others do. By William A. Galston

‘……….They wonder whether they can accept as president a man who threatens a free press with libel laws redolent of the 1798 Sedition Act (which nearly destroyed the American republic in its infancy), openly advocates war crimes as an instrument of state policy, approvingly tweets a quotation from Benito Mussolini, and embraces Kremlin thug Vladimir Putin as a kindred spirit.

There is abundant evidence that Mr. Trump is, as Sen. Marco Rubio pungently puts it, a con man. But suppose we give Mr. Trump more credit than he deserves and take him at his word. It is abundantly clear that no Mexican leader or government would ever agree to pay for his border wall. What then? He would lack the legal authority to impose tariffs on countries such as China and Mexico that run persistent trade surpluses with the U.S. What then? He has proposed a massive tax cut and other programs that, according to the Committee for a Responsible Federal Budget, would add between $11.7 trillion and $15.1 trillion to the national debt over the next decade. This plan, which would be ruinous if enacted, would not be adopted, and candidate Trump has no other economic agenda. What then?

Tom Coburn, a conservative Republican who retired from the Senate last year, said in a statement Monday supporting Sen. Rubio’s candidacy for the Republican nomination that Mr. Trump is “perpetuating a fraud on the American people. His empty promises, bullying and bloviating rhetoric will only deepen the frustration and disillusionment that gave rise to his campaign. He simply lacks the character, skills and policy knowledge to turn his grandiose promises into reality.”

If you think the American people are angry and mistrustful now, imagine how they will feel after three months of (God forbid) a Trump presidency.

Then there is the way Mr. Trump has chosen to conduct his campaign, which has degraded democratic discourse and made the U.S. a global laughingstock. CONTINUE AT SITE

The Climate Change 1% The well-paid professor who wanted to punish climate skeptics.

Remember the university professor who wanted the government to use the RICO law created to prosecute mobsters as a tool against global-warming dissenters? Well, taxpayers may be the ones calling for an investigation after examining the nonprofit venture that George Mason University Professor Jagadish Shukla has been running with generous government funding.

On Tuesday evening House Science Committee Chairman Lamar Smith wrote to the inspector general at the National Science Foundation. Chairman Smith reported that Mr. Shukla has recently been audited by the university in connection with his outside position running the Institute of Global Environment and Society (IGES).

According to Chairman Smith’s letter, the audit “appears to reveal that Dr. Shukla engaged in what is referred to as ‘double dipping.’ In other words, he received his full salary at GMU, while working full time at IGES and receiving a full salary there.”

Mr. Smith cites a memo from the school’s internal auditor in claiming that Mr. Shukla appeared to violate the university’s policy on outside employment and paid consulting. The professor received $511,410 in combined compensation from the school and IGES in 2014, according to Mr. Smith, “without ever receiving the appropriate permission from GMU officials.” CONTINUE AT SITE

Israel Ramps Up Fight Against Tunnelers With ‘The Obstacle’ Security officials race to develop an underground defense system, fearing Hamas may be rebuilding its subterranean network By Rory Jones and Orr Hirschauge

http://www.wsj.com/articles/israel-ramps-up-fight-against-tunnelers-with-the-obstacle-1456879133

TEL AVIV—One morning early last month, Ahmed al Zahar picked up a scarf, left his mobile phone in the kitchen and headed out to help build a tunnel underneath the Gaza Strip near the border with Israel.Hours later, he was dead, after an underground passageway he was working on collapsed.A member of the Izz Al-Din Al-Qassam Brigades, the secretive militant arm of the Islamist movement Hamas, Mr. Zahar is one of at least 10 operatives who have died since the middle of January trying to create an underground network that could move weapons and supplies in any conflict with Israel, a more technologically advanced foe.

His parents have been told little about where and why their 23-year-old son died on Feb. 2, but they knew he worked for Al-Qassam. And despite his death, they support the digging.

“They are not safe,” Ahmed’s father Haidar al Zahar, 62, said of the tunnels from his home in Gaza City. “[But] tunnels guarantee safety and security for the Gaza Strip.”

Israeli officials and analysts say the digging could push the two sides toward conflict again, although Hamas officials have recently tried to play down the threat the tunnels represent. CONTINUE AT SITE.

Apple Is Right on Encryption The FBI doesn’t want merely one phone, and its warrant is legally suspect.

http://www.wsj.com/articles/apple-is-right-on-encryption-1456877827

The Apple encryption conflict has turned nasty, as the Obama Administration, most Republicans and public opinion turn against the tech company. But, lo, Apple won its first court test on Monday, and its legal briefs against the court order to unlock an iPhone used by the San Bernardino jihadists show it has a better argument than the government.

The FBI is attempting to extract information on Syed Rizwan Farook’s device but has been frustrated by Apple’s encryption. So a California magistrate ordered the company to design a custom version of its operating software that will disable certain security features and permit the FBI to break the password. Apple has cooperated with the probe but argues that forcing it to write new code is illegal.

One confusion promoted by the FBI is that its order is merely a run-of-the-mill search warrant. This is false. The FBI is invoking the 1789 All Writs Act, an otherwise unremarkable law that grants judges the authority to enforce their orders as “necessary or appropriate.” The problem is that the All Writs Act is not a catch-all license for anything judges want to do. They can only exercise powers that Congress has granted them.

Congress knows how to require private companies to serve public needs. The law obligates telecoms, for example, to assist with surveillance collection. But Congress has never said the courts can commandeer companies to provide digital forensics or devise programs it would be theoretically useful for the FBI to have—even if they are “necessary” for a search.

Congress could instruct tech makers from now on to build “back doors” into their devices for law-enforcement use, for better or more likely worse. But this back-door debate has raged for two years. In the absence of congressional action, the courts can’t now appoint themselves as a super legislature to commandeer innocent third parties ex post facto. CONTINUE AT SITE

Michael Kile Oscar Snow Job

Actors are a peculiar breed. Ask them to play characters of intellectual depth and the more accomplished deliver convincing performances, no problems. As global-warming worrywart Leonardo DiCaprio demonstrated at this week’s Academy Awards, the trouble starts when they write their own lines

Red-carpet aficionados struggling to figure out how a ‘visceral cinematic experience’ – filmed almost entirely in the snowy landscapes of North America – could prompt a frothy take-home serve of climate alarmism from a leading actor should reflect on Mark Twain’s advice: “Never let the truth stand in the way of a good story, unless you can’t think of anything better”.

Today Twain surely would add: “nor in the way of anthropogenic atmospheric angst or a saving-the-planet pitch, no matter how silly”; especially if you have just won an Oscar for the best bear-ravaged frontiersman this side of Fortress Mountain and are doubling as a UN Messenger of Peace with a special focus on climate change.

On the celebrity frontier the mood this week seemed almost as tense – but not as chilly – as it was on location. Plenty of haute-couture and alarming epidermis on display – from Alicia’s ‘fun and flirty’ Louis Vuitton to Kate’s Ralph Lauren ‘garbage bag’. But fewer animal pelts and bear-hugs than last year.

Leonardo DiCaprio was in the front row, just a short walk from his first Oscar after five nominations. In a dignified acceptance speech, the star heaped praise on best director, Alejandro González Iñárritu, and his USD165 million ‘transcendental’ film, The Revenant.

Mad Max: Fury Road’s sound editor turned up the contrast with an F-bomb. True, not the end of the world. But if Mark Mangini did not hear a pin drop, it was probably because it was drowned out by the voice of his spouse, mother or both. “It’s pretty intense up there,” confided co-winner, David White, in Mangini’s defence. “It’s typically Australians who do the swearing. So the fact that I didn’t swear, I deserve the Oscar just for that.”

But DiCaprio’s speech was scarier than any snarling thing roaring down Fury Road. One bear-hunting man’s ‘epic adventure of survival’ somehow morphed post-production into an eco-allegory about

“man’s relationship to the natural world. A world that we collectively felt in 2015 as the hottest year in recorded history. Our production needed to move to the southern tip of this planet just to be able to find snow. Climate change is real, it is happening right now. It is the most urgent threat facing our entire species, and we need to work collectively together and stop procrastinating. We need to support leaders around the world who do not speak for the big polluters, but who speak for all of humanity, for the indigenous people of the world, for the billions and billions of underprivileged people out there who would be most affected by this. For our children’s children, and for those people out there whose voices have been drowned out by the politics of greed. I thank you all for this amazing award tonight. Let us not take this planet for granted..” (transcript , Kadeen Griffiths, 29 February 2016; author’s bolding).

Brooklyn Federal Court Sides with Apple, Emboldening Tech Giant in San Bernardino Case Congress, not the courts, should sort out competing claims of privacy and security in today’s high-tech communications. By Andrew C. McCarthy

In a ruling that could have ramifications for Apple’s battle with the FBI over the iPhone of the San Bernardino terrorist, a federal magistrate-judge in Brooklyn yesterday denied the government’s request in a similar case to compel Apple to assist the government in searching the iPhone of a suspected narcotics trafficker. Magistrate Judge James Orenstein rejected the Justice Department’s claim that the All Writs Act authorizes the court to coerce Apple’s cooperation.

An unsettling aspect of the cases on both coasts is the Justice Department’s urging of the All Writs Act on the courts as a capacious source of power to coerce assistance from third parties. Interestingly, while Apple has vigorously contested the AWA order in California, the tech giant itself suggested that the Justice Department seek one in Brooklyn. Apple was willing to help in the Brooklyn case (as it has done in approximately 70 other cases), but only if there was an order, which the company even helped the Justice Department draft. It was Magistrate Judge Orenstein who was troubled about whether he had the authority to issue the order. Only when the court hesitated and asked for more briefing on the AWA did Apple do an about-face and oppose the issuance.

The AWA, which is now codified at section 1651 of Title 28, U.S. Code, was originally enacted by the first Congress in 1789 — a time when federal courts played a much more modest role in American life. The idea was that, in the few areas where the courts were empowered to act by the Constitution or a statute, they had some residual authority to issue orders necessary to exercise these grants of jurisdiction. It was never the purpose of the AWA to grant courts a limitless reservoir of power to, in effect, legislate in areas where Congress had not enacted controlling law — or, worse, to assume powers Congress had considered giving to judges but decided not to.

TWO VIDEOS ON TRUMP

BEN SHAPIRO; DONALD TRUMP IS A LIAR

http://www.dailywire.com/videos/3733/ben-shapiro-donald-trump-liar-ben-shapiro

JOHN OLIVER’S TAKEDOWN

https://www.youtube.com/embed/DnpO_RTSNmQ?autoplay=1

Campus Rape at the Oscars By Marilyn Penn

As Lady Gaga’s voice soared with emotion while performing “Til It Happens to You,” her song from “The Hunting Ground” (co-written with Diane Warren), masses of young women along with some men strode out on-stage with their forearms extended to reveal words of victimhood imprinted on them. Most disturbing was the word “survivor” recalling the term commonly associated with victims of the holocaust. Possibly lost on under-educated people below the age of 60 was the symbolism of that forearm, the site of numbered tattoos forcefully stamped on prisoners of Auschwitz and other concentration camps by Nazi exterminators. Tears could be seen in the eyes of the sensitive audience and defiance in Gaga and her gang as they represented the latest p.c. special interest group – Victims of Campus Rape. But there is zero similarity between that experience and the horrific plight of holocaust survivors subjected to starvation, torture, sadistic experiments and the most brutal modes of murder.

Current estimates are that one in five college students will experience campus rape. If you’re thinking of an assault in a dark alley by an unknown male brandishing a weapon or threatening violence, think again. According to statistics compiled by Campus Safety Magazine, 43% of victims have consumed excessive alcohol while a scorching 90% of “acquaintance rape” involves that substance. 84 % of women victims are freshmen or sophomores – under age for any alcohol consumption, much less binge drinking. And 38% of college victims are women who claim to have been victimized before, making this the best predictor for any campus rape. Male aggressors who have consumed alcohol are held legally responsible for their actions; females who report that they were too drunk to give consent are foolishly exempt from responsibility for that condition. While no one disputes that in the trendy, free-wheeling lifestyle of many campuses some violent rapes occur, a more common scenario is a young girl who knows and may like her partner but has drunk too much to be in control of herself and later regrets being taken advantage of.

5 Chinese women immigrate to Israel, plan conversion

Members of Kaifeng community, believed to be founded by 8th- or 9th-century Jewish traders, to undertake formal process to become Jews

For the first time in 7 years, 5 young women in their 20’s from China’s historic Jewish community have made Aliyah and are presently living in Israel. They were brought to Israel via the Shavei Israel organization. The women, Gao Yichen, Yue Ting, Li Jing, Li Yuan, and Li Chenglin, have been studying Hebrew and Judaism intensively in Kaifeng for the past several years prior to their Aliyah.

“Kaifeng’s Jewish descendants are a living link between China and the Jewish people,” Shavei Israel Chairman Michael Freund stated. “After centuries of assimilation, a growing number of the Kaifeng Jews in recent years have begun seeking to return to their roots and embrace their Jewish identity. These five young women are determined to rejoin the Jewish people and become proud citizens of the Jewish state and we are delighted to help them realize their dreams.”

“Being part of the Jewish people is an honor because of the heritage and wisdom,” said Li Jing, who on a brief previous visit to Israel put a note of prayer in the Kotel asking to return and live in Israel. “Now, my prayer has been answered,” she said. After the 5 women arrived in Israel, they were brought by Shavei Israel to the Kotel to pray and from there will be studying in a seminary in Jerusalem. After they formerly convert to Judaism, they will receive Israeli citizenship.