COMING UP SHORT THIS MONTH.
Thought for the day
"Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other." -- Oscar Ameringer, "The Mark Twain of American Socialism"
The brief post-BOE euphoria has worn off, and risk-off sentiment returned to markets as concern about inflation and the global economy overshadowed the Bank of England’s desperate attempt to restore calm by restarting QE, exacerbated by more hawkish central bank talk and defiance by British PM Liz Truss's tax plan (which has been slammed from the IMF all the way to the White House). Treasuries resumed their slide with UK gilts, while US equity futures fell as European stocks extended a selloff that’s caused valuations to drop to their lowest since 2012. As of 730am, emini S&P futures slid 0.7% to 3704, recovering from losses as big as 1.5% earlier.
The dollar rose and Treasuries resumed their slump as investors focused on expectations the Federal Reserve will continue to deliver aggressive interest-rate hikes. The pound snapped a two-day gain and UK gilt yields rose as Prime Minister Liz Truss defended a giant package of unfunded tax cuts that sent markets into turmoil.
“Other than the dollar, there are not many assets that are trading constructively,” said Julia Raiskin, Asia-Pacific head of markets for Citigroup Inc. “The markets are very pessimistic. Investors are fairly on the sidelines.”
Fox News reporter Jennifer Griffin has confirmed that the U.S. was not responsible for the Nord Stream 2 pipeline explosion, because the Pentagon told her so.
Despite accusations flying that the United States could have been involved in the blasts that have reportedly could scupper the pipelines permanently, and without any investigation having taken place, Griffin’s crack journalism has solved the case.
“There is no evidence or indication the US was involved in any way with the Nordstream 2 pipeline explosions,” Griffin tweeted.
“My question at the Pentagon briefing today: Can you rule out that the U.S. was involved? Senior Military Official: ‘Yeah, we were absolutely not involved.’ ”
Reuters quoted NATO Secretary-General Jens Stoltenberg on Thursday, saying attacks against EU critical infrastructure would be met with a "determined response." He called the acts "sabotage. "
"All currently available information indicates that this is the result of deliberate, reckless, and irresponsible acts of sabotage.
"We, as Allies, have committed to prepare for, deter and defend against the coercive use of energy and other hybrid tactics by state and non-state actors. Any deliberate attack against Allies' critical infrastructure would be met with a united and determined response," a statement from the North Atlantic Council (NATO) read.
The momentum of franchise success and centralization of power are fatal...
Loonshots are like moonshots, only crazier and trickier to commercialize. Author Safi Bahcall titled his book on how to nurture change-the-world innovations Loonshots: How to Nurture the Crazy Ideas That Win Wars, Cure Diseases, and Transform Industries.
But as Bahcall persuasively argues, loonshot innovations aren't enough. You also need to nurture franchises that commercialize the innovations into products and services that pay the bills and fund the search for loonshot.
Bahcall identifies two kinds of loonshots: product and system. One of his examples: the 747 Jumbojet was a product innovation, the SABRE airline reservation software was a system innovation. Both are essential.
WINK-TV meteorologist Dylan Federico has broken a cardinal rule of the internet by failing to even attempt to rescue a cat that was stranded on a bench as Hurricane Ian flooded the area.
Several White House reporters on Wednesday asked Karine Jean-Pierre about Joe Biden’s confusion over late Rep. Jackie Walorski.
An 84-year-old woman was shot while campaigning against a Michigan ballot measure that would legalize abortion until birth on September 20 in Lake Odessa.
Another milestone for the extremely confused elderly citizen in the White House basement.
Analysis of Google Trends data reveals that searches for ‘real estate market crash’ exploded 284% in the United States as of September 2022 – the highest level in Google Trends history.
The analysis by the Malibu real estate experts at RubyHome reveals that search interest for ‘real estate market crash’ exploded within the past month, an unprecedented increase in Americans looking for information and prognostication about the real estate market, according to Google search data.
This comes at a time when the US housing market sees mortgage rates rising at the fastest pace in history, surging above 7% after touching 6% just two weeks ago!
Event: On September 21, the Russian government began a mobilization of its citizens to the armed forces in support of its invasion of Ukraine. Russia may refuse to acknowledge dual nationals’ U.S. citizenship, deny their access to U.S. consular assistance, prevent their departure from Russia, and conscript dual nationals for military service.
Over the weekend, a church in Texas became a lightning rod for protesters and counter-protesters alike when it invited members of “all ages” to a drag event to support so-called “trans and exploring” minors.
On Saturday evening, the First Christian Church of Katy, Texas, an affiliate of the Disciples of Christ denomination, held a bingo event featuring drag queens that was billed as fun for the whole family.
“We create a place for people to feel welcomed and understand that there will always be people who disagree with us,” said Reverend Heather Tolleson, the pastor of the church.
The purpose of the bingo event — and the adults-only drag show later that night — was to raise funds for the church’s “Transparent Closet,” a resource where “trans and exploring teens, youth and young adults” can find cross-sex clothing, shoes, and accessories such as makeup.
Webmaster addition: On average, men spend 22% less than women on fashion and cosmetics. Convincing boys that they really should be girls means more profit for those companies! Anyone seen any Ferengi wandering about those drag events?!?
Last week I had the immense pleasure of interviewing my good buddy George Gammon from Rebel Capitalist.
George is one of my favorite economic commentators and has been a friend of mine, and my podcast, for years. He is focused on Austrian economics, skepticism about the global elite and Central Banking, and trying to help preserve wealth in the out-of-control world of Central Banks we exist in.
In our recent interview, we discussed:
What inflation numbers will look like at the end of the year, and why George thinks CPI numbers will hit a lull
George’s favorite indicator for measuring whether we’re in a recession and whether or not the Fed is going to reverse course “within weeks”
Black swan events George is watching that could hurt the markets, other than rising rates
China’s Covid policy and what alternate reasoning there may be for it, other than Covid
China and Russia posturing up together
Growing disparities in wealth, a housing and gas crisis, transhumanism galloping over the horizon, heroized incivility, and the constant threat of viruses, the “cures” for which may be worse than the diseases. Global politics feels eerily apocalyptic these days and, in our own little worlds, many of us are so lost, so unmoored from the comforts of our pre-pandemic lives, that we don’t know which end is up or what the future will hold. Investigative journalist Trish Wood recently wrote that we are living the fall of Rome (though it’s being pushed on us as a virtue).
I wonder, are we falling as Rome did? Is it possible that our civilization is on the verge of collapse? Not imminent collapse, perhaps, but are we taking the initial steps that civilizations before ours took before their eventual downfalls? Will we suffer the fates of the Indus, the Vikings, the Mayans, and the failed dynasties of China?
As a philosopher, I need first to understand what we mean by “civilization” and what it would mean for that thing to collapse.
This is a significant conceptual hurdle. “Civilization” (from the Latin civitas, meaning a body of people) was first used by anthropologists to refer to a “society made up of cities” (Mycenae’s Pylos, Thebes, and Sparta, for example). Ancient civilizations were typically non-nomadic settlements with concentrated complexes of persons who divided labor. They had monumental architecture, hierarchical class structures, and significant technological and cultural developments.
The massive news coverage of Gov. Ron DeSantis’ “political stunt” of sending 50 illegal aliens to Martha’s Vineyard reminds me of the media’s “political stunt” of referring to illegals as “legal asylum-seekers.”
Asylum is nothing but a conveyer belt to bring the worst people on Earth to our shores. You say you turned your own country into a hellhole? Fantastic! Come right in!
No one gets asylum from a well-run country. Why would we want to admit people who have demonstrated the wisdom, foresight and diligence to produce a functioning society? Rewards await only those who’ve participated in the creation of complete disaster zones. (Just think of what these great thinkers could do for our country!)
Tens of thousands of people marched in the Czech Republic’s capital of Prague on Wednesday to protest against the government’s handling of the energy crisis, the EU, and NATO.
It marked the second time within a month that massive demonstrations took place in the city as Western sanctions against Russia are backfiring on Europe and energy prices are soaring.
The demonstrations in Prague have brought together parties from across the political spectrum. According to Reuters, the organizing group known as “Czech Republic First!” is against Prague’s EU and NATO memberships and wants the country to be militarily neutral.
“This government is absolutely anti-Czech. It only serves Brussels, American power and NATO. It has no regard for Czech citizens’ interests,” one demonstrator told Reuters.
Politico's new owner may lean right, but the rag's founding editor, John F. Harris, said in a Thursday column that the Constitution must be rewritten to stop former President Donald Trump - who he calls a "constitutional menace" who exploited the Constitution's "defects" in order to win the 2016 US election.
"Correcting or circumventing what progressives reasonably perceive as the infirmities of the Constitution, in fact, seems likely to be the preeminent liberal objective of the next generation. Progress on issues ranging from climate change to ensuring that technology giants act in the public interest will hinge on creating a new constitutional consensus. Trying to place more sympathetic justices on the Supreme Court is not likely to be a fully adequate remedy," Harris wrote, adding "There are more fundamental challenges embedded in the document itself — in particular the outsized power it gives to states, at a time when the most urgent problems and most credible remedies are national in character."
Webmaster addition: "As long as we're re-writing the Constitution, let's get rid of that Second Amendment, First Amendment, Thirteenth Amendment, Fourth Amendment, 8,9,and 10th Amendment, and put in abortion up to 18 years after birth!" -- Lefties
Winter is coming, and experts are predicting that it will be an expensive one for American households nationwide.
The average U.S. household heating bill is expected to increase by 17.2 percent this winter compared to last year, according to a forecast by the National Energy Assistance Directors Association (NEADA).
Families had already faced higher than average electric bills last winter due to inflation and this year provides no improvement.
A police department in the UK has come under fire after it appeared to defend a convicted pedophile, asserting that anyone ‘misgendering’ the individual would not be tolerated.
Sussex Police responded to posts from women’s rights campaigners who expressed concerns that the 58-year-old transgender pedophile, going by the name of Sally Ann Dixon, could be incarcerated in a women’s prison.
The individual, a biological male previously known as John Stephen Dixon until 2004, was sentenced to prison after being found guilty of 30 indecent assaults against children dating from 1989 to 1996.
Rebel News reporter Ian Miles Cheong noted that police issued a thinly veiled threat to investigate anyone misgendering the child rapist for potential ‘hate crimes’.
Webmaster addition: I am sick and tired of being told to worry about the feelings of sickos using children as sex toys!
The American military machine saunters out after a 20-year occupation, and Russia darts in: "The Taliban have signed a provisional deal with Russia to supply gasoline, diesel, gas and wheat to Afghanistan, Acting Afghan Commerce and Industry Minister Haji Nooruddin Azizi told Reuters."
The major deal was weeks in the making and negotiating, centered in Moscow with Taliban leadership, after Acting Afghan Commerce and Industry Minister Haji Nooruddin Azizi led a delegation there last month.
Ironically, Moscow has yet to formally and fully recognize the Taliban government since it took power when it swept into the Afghan capital in August 2021 - amid a chaotic US evacuation from the airport - but Russia has been among a handful of countries to leave its embassy open in Kabul.
In Part 1, we discussed the nature of “world order” and global governance. We learned the crucial difference between the Westphalian model of equal, sovereign nation-states—a mythical ideal, never an actuality—and the various attempts to stamp a world order on that template.
In particular, we considered how the UN has been the leading organisation promoting global governance and how its founding Charter facilitates the centralisation of global power.
We observed that the UN has undergone a “quiet revolution” that has transformed it into a global public-private partnership (UN-G3P).
Latterly, we have seen the rise of a prospective multipolar world order that some say opposes the hegemony of its unipolar predecessor. This new model of global governance will apparently be led by allies Russia and China, the two countries that head up the multilateral partnerships of the BRICS (Brazil, Russia, India, China and South Africa).
The multipolar world order is predicated upon a more prominent role for the G20 rather than the G7. Thereby strengthening Russia’s and China’s positions as permanent members of the UN Security Council.
Whereas the existing unipolar world order established a system of global governance that enables UN-G3P oligarchs to influence policy agendas of nation-states around the world, the new multipolar world order is designed to advance the power of those oligarchs even further - by transforming their influence into absolute control.
The Pentagon says it is doubling the number of deadly HIMARS rocket systems sent to Ukraine, as part of a new military aid package worth $1.1 billion.
The Pentagon made the announcement on Wednesday, saying it is committed to sending another 18 High Mobility Artillery Rocket Systems (HIMARS) to Ukraine.
HIMARS systems are intended to be a “core component of Ukraine’s fighting force in the future,” a senior US defense official told reporters, adding that this new tranche will take a “few years” to build and deliver.
The recent arms package will take between six months and two years to deliver and require defense contractors to restart or intensify manufacturing, the official said.
The United States has already delivered 16 of the systems, capable of hitting targets with precision of a “recognized and proven range” of up to 300 kilometers, according to its manufacturer, Lockheed Martin.
Webmaster addition: So, if you were hoping your taxes would be used to repair this nation ... too damned bad!
The US Embassy in Moscow issued a security alert overnight that again urged US citizens to leave Russia immediately while there are still options for departing the country.
The alert comes in the wake of Russian President Vladimir Putin’s order for partial mobilization of Russian men to fight in his war in Ukraine.
“Russia may refuse to acknowledge dual nationals’ US citizenship, deny their access to US consular assistance, prevent their departure from Russia, and conscript dual nationals for military service,” the alert said.
The embassy has consistently warned Americans not to travel to Russia and to depart the country immediately if there.
Webmaster addition: Honestly, I would feel safer there than I do here, where the nation is being run by a demented old fool!
It was perhaps only a matter of time before European leaders attempted to leverage ongoing anti-war protests in Ukraine to call for regime change. Emboldened Baltic NATO countries have been at the forefront of increasing rhetoric and measures punishing Russians.
And now Lithuania's foreign minister is openly calling for Russians to tap into collective anger over last week's partial mobilization order and overthrow President Vladimir Putin. "Lithuanians overthrew the Soviet regime, Ukrainians overthrew (former Ukrainian President Viktor) Yanukovych, Iranian women have risen up against the brutality of the Iranian regime and Russians can overthrow Putin," FM Gabrielius Landsbergis tweeted.
"Let’s not underestimate the power of freedom," he followed with, but at the same time emphasized his country would not be letting fleeing Russians in, nor will they receive asylum.
Days prior Landsbergis had said, "Lithuania will not be granting asylum to those who are simply running from responsibility. Russians should stay and fight. Against Putin."
Any political solution – however theoretical, at this point – would involve Moscow sitting with the collective West. Kiev had become a bystander.
Russia is preparing for an escalation in this war. She is augmenting her forces to the minimum level that could deal with a major NATO offensive. This decision was not precipitated by a significant attrition in the existing force. The facts are clear: The militias of Donetsk and Luhansk represent the majority of the Russian allied forces fighting in the Donbas. The militias have been reinforced by contract soldiers from the Wagner Group and Chechen fighters however, rather than by regular Russian forces.
But this is about to change. The number of Russian regulars fighting in Ukraine will rise dramatically. However, the referenda in the Ukrainian oblasts come first; and those will be followed by the Government of Russia and the Duma accepting the results and approving the annexation of these territories. After that is concluded and the territories assimilated into Russia, any attack on the new Russian territories would be treated as an act of war against Russia. As former Indian diplomat, MK Bhadrakumar, notes, “The accession of Donbass, Kherson and Zaporozhye creates a new political reality and Russia’s partial mobilisation on parallel track is intended to provide the military underpinning for it”.
Clearly, we – the world – are at a pivotal moment.
An analysis of official data reveals that a record number of New York residents changed their driver's licenses to Florida last month.
According to the New York Post, a total of 5,838 New Yorkers made the switch in August - the second-highest number for a single month in recorded history - and which makes for a year-to-date figure of 41,885 New Yorkers who have abandoned their northern licenses after moving south - a pace which points to a new annual record.
Three deep-water explosions destroyed the Nord Stream pipelines under the Baltic Sea on Monday. While the MSM and governments reported “leaks” in the pipelines following sudden pressure drops to zero, Swedish seismologists knew better.
NBC reporter Kyla Galer is getting teased online for putting a condom on her microphone while covering Hurricane Ian.
Tennessee House Republicans formally requested that Vanderbilt University Medical Center (VUMC) stop performing gender surgeries on minors in a letter on Wednesday.
Sidney Powell’s countersuit against Dominion Voting machines was thrown out today by the judge overseeing the case.
Virgin Atlantic modified its gendered clothing requirement uniform policy on Wednesday to permit male staff to wear skirts as its launches a new campaign become the world’s “most inclusive airline.”
The Democrats used the pandemic to cover up their socialist agenda. But now it seems that other more radical liberals, such as Governor Gavin Newsom, are refusing to let go.
Newsom has a bill on his desk that would cripple the medical field in California. The bill essentially forces doctors to accept the medical opinion of the state. Any deviation from the published narrative would immediately keep them from being able to practice medicine in the state.
Fox News reported, “The bill in question, AB 2098, would allow the Medical Board of California to revoke a doctor’s license to practice medicine in the state for expressing an opinion ‘contradicted by contemporary scientific consensus contrary to the standard of care.’ The problem is that ‘contemporary scientific consensus’ has fluctuated wildly over the past two years.”