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CHINA BUBBLE Print E-mail
Written by Ambrose Evans-Pritchard   
Tuesday, 09 December 2014

China's stock market boom has reached outright mania, with equities galloping higher at a parabolic rate, despite threats of a crackdown by regulators and the continued slowdown of the national economy.

The Shanghai Composite Index has risen 32% in the past six weeks, blowing through 3,000 to a three-and-a-half-year high even though corporate earnings are declining steeply.

The China Securities Regulatory Commission said late last week that it would "increase market supervision, resolutely crack down and earnestly safeguard normal market order." It warned that stock manipulators had been "raising their head" and would be dealt with.

The cautionary words have been ignored by retail investors as they throng brokerage offices, lured by momentum trades. For the stock boom comes as Chinese industry battles with massive overcapacity in everything from steel to shipbuilding, coal output, cement and solar panels.

The bottom line is that it may be impossible for China to deflate its epic bubble painlessly.
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THE CATASTROPHE OF THE CORRUPTION OF SCIENCE Print E-mail
Written by Matt Ridley   
Tuesday, 09 December 2014

As somebody who has championed science all his career, carrying a lot of water for the profession against its critics on many issues, I am losing faith.

Recent examples of bias and corruption in science are bad enough. What's worse is the reluctance of scientific leaders to criticize the bad apples. Science as a philosophy is in good health; science as an institution increasingly stinks.

This past week has seen three egregious examples of poor scientific practice. The most recent was the revelation last week that scientists appeared to scheme with environmental activists to get neonicotinoid pesticides banned, rather than open-mindedly assessing all the evidence.

Second example: last week, the World Meteorological Organization (WMO), a supposedly scientific body, issued a press release stating that this is likely to be the warmest year in a century or more, based on surface temperatures. Yet this predicted record would be only one hundredth of a degree above 2010 and two hundredths of a degree above 2005 - with an error range of one tenth of a degree.

In any case, the year is not over with 16% of the 2014 data not yet recorded, so why the announcement now? Oh yes, there's a political climate summit in Lima this week.
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BIG GOVERNMENT Print E-mail
Written by To The Point News   
Friday, 12 December 2014

Now for something completely different.

Gary Cherone is well known to fans of hard rock music.  He's been a lead singer and guitarist for rock bands like Van Halen and Extreme.  His current group is called Hurtsmile.

Recently, Cherone and Hurtsmile released a music video called Big Government.  It's been described as "a body blow against liberal tactics and policies."

The song slams nanny state policies, class warfare rhetoric, Utopian ideologues and bloated bureaucracies.  It even quotes Dennis Praeger, of whom Cherone is a fan.

Rock on!



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HALF-FULL REPORT 12/05/14 Print E-mail
Written by Dr. Jack Wheeler   
Friday, 05 December 2014

Before we start tearing our hair out by the roots over House Rino perfidy, let's take a look at some good news this week.  Yes, there is some.

The New York Times finally began - just began - catching up to To The Point on Sunday (11/30) with Russian Money Suspected Behind Fracking Protests.  TTPers have known about this since April 2012 in Is Obama on Putin's Payroll? 

Yet that was just the prelude, for the next day, Monday (12/01) is when, as one headline put it: Putin's Luck Runs Out.  Here's how rapid the Putin Collapse has been...

There will be marvelous news in Louisiana tomorrow (12/06).  Scary Mary Landrieu is going to get crushed by Dr. Bill Cassidy - he's ahead by 24 points (!).

I grew up in the days of the Solid South completely run by Yellow Dog Democrats.  With Landrieu gone tomorrow, Democrats will be left without a single Governor, Senator, white Congressman, or state legislative chamber from the Carolinas to Texas.  Think about that...

Okay, time to wallow in the mire with a clothespin blocking the stench from our noses.  Thomas Sowell noted yesterday that it will take a psychiatrist to explain why Boehner & Co want millions of illegal foreign workers to compete with Americans for jobs...

There are other things we could get upset about this week, but instead, I need to tell you a story.  It's about how I met an extraordinary man and became friends with 45 years ago.  On Wednesday (12/03) at age 84 he passed away.  His name was Nathaniel Branden.
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AUTO-RACIST AMERICA Print E-mail
Written by Dr. Jack Wheeler   
Thursday, 04 December 2014

On November 18, a senior at Georgetown University in DC named Oliver Friedfeld wrote a letter published in the campus newspaper, The Hoya, headlined "I Was Mugged And I Understand Why."

The kid blamed himself  for being robbed at gunpoint by two black muggers.

He's being such a living caricature of liberal candy-ass white guilt has caused a deluge of conservative media contempt, from Breitbart to Rush to FoxNews' Greg Gutfeld who belittled him as "a discredit to his race - the human one."

Yet how different from Oliver the Pajama Boy is every talking head on TV News save for Fox?

The "narrative" or meme of Racist America is all that counts for the white media-academia establishment.  Everything must be twisted into it or ignored. 

What is clear is that the white media-academia establishment is determined to aggravate racial tension and hatred of blacks against whites in America - they want violence and riots and protests against whites. 

Why?  It's too facile to simply answer, "white guilt."  For that begs the question, "What is the cause of white guilt?"  Why should whites feel guilty?  Guilty for what?
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OBAMA'S LEGACY OF LOOTERS Print E-mail
Written by Jack Kelly   
Wednesday, 03 December 2014

Of 1,265 people killed in St. Louis between 2003 and 2012, 1,138 (89.9%) were black.  90% of them were killed by other blacks. Thirty two of them were killed by police officers; 22 of those 32 (1.93% of 1,138) by white cops.

To assert - as the Obama administration and so many in the news media have - that racially motivated shootings by police are commonplace, and this was one of them - is vile.

Even more despicable are those who've made excuses for what took place after the grand jury refused to indict Officer Wilson for a crime it was clear he hadn't committed. 

Rioters and looters - who destroyed mostly black businesses and burned down a black church - aren't "protesters" who are "trying to make their voices heard." 


They're criminals. And they are Obama's legacy.
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IT'S GAME OVER FOR THE SAUDIS VS AMERICA ON OIL Print E-mail
Written by Ambrose Evans-Pritchard   
Wednesday, 03 December 2014

Saudi Arabia and the core OPEC states are taking an immense political gamble by letting crude oil prices crash to $66 a barrel, if their aim is to shake out the weakest shale producers in the US.

"The resilience of US shale may prove greater than the resilience of OPEC," said Alistair Newton, head of political risk at Nomura.

There is no question that the US has entirely changed the global energy landscape and poses an existential threat to OPEC. America has cut its net oil imports by 8.7m bpd since 2006, equal to the combined oil exports of Saudi Arabia and Nigeria.

OPEC has misjudged the threat. As late as last year, it was dismissing US shale as a flash in the pan. Abdalla El-Badri, the group's secretary-general, still insists that half of all US shale output is vulnerable below $85.

This is bravado. US producers have locked in higher prices through derivatives contracts. Noble Energy and Devon Energy have both hedged over three-quarters of their output for 2015.

Further, efficiency is improving and drillers are switching to lower-cost spots, confronting OPEC with a moving target. "The (price) floor is falling and is not nearly as firm as the Saudi view assumes," says Citigroup.
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"J'ACCUSE!" TO THE UNITED NATIONS Print E-mail
Written by Ambassador Ron Prosor   
Thursday, 04 December 2014

[On November 24, Israeli Ambassador to the UN Ron Prosor gave this extraordinary heroic speech to the UN General Assembly. It was given in response to the UN International Day of Solidarity with the Palestinian People. Protocol calls for such speeches be addressed to the President of the General Assembly, a ceremonial position currently held by Uganda Foreign Minister Sam Kutesa.]

Mr. President,

I stand before the world as a proud representative of the State of Israel and the Jewish people. I stand tall before you knowing that truth and morality are on my side. And yet, I stand here knowing that today in this Assembly, truth will be turned on its head and morality cast aside.

The fact of the matter is that when members of the international community speak about the Israeli-Palestinian conflict, a fog descends to cloud all logic and moral clarity. The result isn't realpolitik, it's surrealpolitik.

The world's unrelenting focus on the Israeli-Palestinian conflict is an injustice to tens of millions of victims of tyranny and terrorism in the Middle East. As we speak, Yazidis, Bahai, Kurds, Christians and Muslims are being executed and expelled by radical extremists at a rate of 1,000 people per month.

How many resolutions did you pass last week to address this crisis? And how many special sessions did you call for? The answer is zero. What does this say about international concern for human life? Not much, but it speaks volumes about the hypocrisy of the international community.
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ISIS WANTS ARMAGEDDON - LET'S GIVE IT TO THEM Print E-mail
Written by Michael Ledeen   
Tuesday, 02 December 2014

It's a tyrannical theocracy, crucifixions and decapitations are routine, women are shrouded and intimidated, the grim religious police are all over the place.  It's your Islamic State, aka ISIS.

How do we know?  Basically from defectors, now as during the Cold War the most valuable sources for Western intelligence services. 

Some of these ex-ISIS followers are free in the West, others are standing trial, as in the case of the 46 Belgians who returned from the IS and are accused of crimes ranging from torture and murder to extortion and terrorism. 

One of these confessed upon discovering that Belgian authorities had some incriminating telephone intercepts, as when he told his girlfriend:

"Today I killed a man.  An infidel...his family had collected only thirty thousand euros for him, but the price was seventy thousand.  I killed him with a shot in the head.  Bang!  I wanted to make a video but my camera didn't work right..."

Young men are excited by the chance to murder, but when you sign up with ISIS, you have an excellent chance to lose your own life, and this is often an eye-opener for some of the bourgeois European believers.  After seeing their comrades drive off in suicide vehicles, they sagely reconsider.
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THE GOP CONGRESS BETTER BE DYNAMIC NOT STATIC ON TAXING AND SPENDING Print E-mail
Written by Richard Rahn   
Tuesday, 02 December 2014

Would you make an effort to find additional ways to reduce your tax burden if your tax rate was suddenly raised 50 percent?

The higher one's income, the more incentive a person has to find ways to minimize his tax burden -- which is why very high tax rates on the rich always fail to produce the projected revenue.

Republican congressional leaders have pledged to undertake tax and spending reform. To do so, they need accurate projections of the impact on tax revenues, job creation and economic growth resulting from their possible alternative reforms.

This requires realistic models of what is likely to happen, so they need to find the best possible experts to manage the Joint Committee on Taxation and the Congressional Budget Office.

These are two key questions I would pose to the candidates for these positions:
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AN EARNED LIFE: NATHANIEL BRANDEN 1930-2014 Print E-mail
Written by Dr. Joel Wade   
Friday, 05 December 2014

I've lost a mentor and a dear friend; Nathaniel Branden passed away on Wednesday, Dec. 3rd. Playful, brilliant, mischievous, incisive, inspiring... He was the best ally a young soul striving for strength and self-possession could have.

When someone we care about passes, we long for stories that remind us of them; stories that help us feel like we can still know them better, as though they're somehow still here, and we can continue to feel closer to them, if only for a little while longer; while we get used to the jarring truth that they're gone.

There are stories that are public knowledge - and they are big stories. Nathaniel was instrumental in creating a systematic philosophy and organized school of thought from the novels and thought of Ayn Rand.

I'd like to give a brief introduction to the man for those who may not know him or his work. Then what I have to say is more personal.
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A FRONT PAGE FANTASY Print E-mail
Written by To The Point News   
Friday, 05 December 2014


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HALF-FULL REPORT 11/28/14 Print E-mail
Written by Dr. Jack Wheeler   
Friday, 28 November 2014

It's so obvious who the HFR Heroes of the Week are that we need to dispense the suspense and laud them right out front. 

They are the six white men, three white women, two black women, and one black man who comprised the Saint Louis County Grand Jury that refused to indict Police Officer Darren Wilson.  We must add to them the St. Louis County prosecutor Bob McCulloch, whose statement announcing the grand jury decision on Monday (11/24) is here.

They all knew their lives could be at stake with the murderous anger and multitude of death threats against them, yet they opted for the truth straight in the face of it.  That's flat out American heroism.  We owe them a grave debt of gratitude...

There are good lessons to be learned from this Ferguson Lunacy, and benefits to be gained.  Here's the most important...

There was another major event that rivaled the Ferguson grand jury decision in importance this week.  For background, who is the GOP Congressional Establishment leader you most love to hate?
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THE FIRST THANKSGIVING CELEBRATED THE BOUNTY OF CAPITALISM Print E-mail
Written by Dr. Jack Wheeler   
Thursday, 27 November 2014

On Thanksgiving Day, Americans gather with their family and friends to celebrate the blessings that Providence has bestowed on their beloved country.

A deep appreciation of these blessings involves understanding that they were earned.  It is to understand the awesome truth of how "God helps those who help themselves" applies to the Mayflower Pilgrims and their First Thanksgiving at America's birth.

This is an appreciation and understanding of which those on the Left are incapable - for it would mean celebrating the capitalist freedom that made that original Thanksgiving possible.  This no liberal, no Democrat, no leftie can do.  Thus they must distort history instead.

The distortion starts in Kindergarten, with the childish make-believe of your kid's school play portraying the noble Squanto teaching the helpless Pilgrims how to feed themselves. So let's drop the curtain on the distortion and watch the real thing. Here it is.  This is what needs to be taught to every schoolchild in America, instead of the garbage they learn now.
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SWITZERLAND AND THE 6,000 YEAR-OLD GOLD BUBBLE Print E-mail
Written by Ambrose Evans-Pritchard   
Friday, 28 November 2014

Five million Swiss voters will decide on Sunday (11/30) whether to force the Swiss National Bank to repatriate all its gold from vaults in Britain and Canada, boost its holdings of bullion to 20% of foreign reserves and then keep the metal forever.

The "Save Our Swiss Gold" referendum is a valiant attempt by Switzerland's army of gold bugs -- and the populist Swiss People's party (SVP) - to lead the world back to the halcyon days of the international Gold Standard. It is a primordial scream against a quantitative easing and money creation a l'outrance (at all costs) by the leading central banks.

Yet there is a snag. The Swiss National Bank (SNB) is the biggest printer of them all in relative terms, far outstripping the Bank of Japan, let alone the US Federal Reserve or the Bank of England - mere amateurs at this game.  

At one stage it was mopping up half of the entire sovereign bond issuance of the eurozone each month, a scale of action that the European Central Bank's Mario Draghi can only dream of.

You have to smile when you hear Swiss gold enthusiasts complaining that these foreign bonds - bought with electronic fiat francs created out of thin air - are now losing value as the euro slides against the dollar. But then we all suffer from cognitive dissonance.
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