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WILL CHINA JUMP OFF A FISCAL CLIFF? Print E-mail
Written by Ambrose Evans-Pritchard   
Thursday, 05 March 2015

Nobody can fault China's leaders for lack of bravery. The Politburo has kept its nerve as the world's most giddy experiment in credit-driven growth faces assault on three major fronts at once.

Real interest rates have rocketed. The trade-weighted rise in the yuan over the past two years has been spectacular. Fiscal policy is about to tighten drastically as the authorities clamp down on big-spending local governments.

Put together, China is pursuing the most contractionary mix of economic policies in the G20, relative to the status quo ante. Collateral damage is already visible in the sliding global prices of iron ore, copper, nickel, lead and zinc over recent months, as well as thermal coal, oil, corn and even sugar.

Zhiwei Zhang, from Deutsche Bank, says China faces a "fiscal cliff" this year as Beijing attempts to rein in spending. "This year, China will likely face the worst fiscal challenge since 1981. This is not well recognized in the market," he said.

Another indicator: China is no longer buying US Treasuries and global bonds. It has become a net seller, stepping in to offset accelerating outflows of capital. The capital deficit reached a record $91bn in the fourth quarter.
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MASS DEFAULT ONLY SOLUTION TO WORLD DEBT ADDICTION Print E-mail
Written by Jeremy Warner   
Wednesday, 04 March 2015

In a valedictory speech last weekend of characteristically Latin American duration - a mind-numbing three hours - the Argentine president, Cristina Fernandez de Kirchner, claimed that her country was the only one in the world to have reduced its national debt over recent years.

Only Kirchner could think this a matter of national pride - for reduction in the national debt via the mechanism of default is anything to boast of.  

Nonetheless, where Argentina treads, others will surely soon be following. The world is sinking under a sea of debt, private as well as public, and it is increasingly hard to see how this might end, except in some form of mass default.

This most certainly includes China, by the way.  China's total indebtedness has quadrupled since 2007 to $28 trillion, according to estimates by McKinsey. At 282% of GDP, China's debt burden is now bigger, relative to output, than the US.
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THE LIBERAL CIRCUS Print E-mail
Written by Victor Davis Hanson   
Tuesday, 03 March 2015

Lately liberalism has gone from psychodrama to farce. 

Take Barack Obama. He has gone from mild displeasure with Israel to downright antipathy. Who would have believed that Iranian leaders who just ordered bombing runs on a mock U.S. carrier could be treated with more deference than the prime minister of Israel?

Hillary Clinton likewise has gone from a rather run-of-the-mill liberal grandee to a political grafter.  The problem with Hillary's scandals are not just that they reveal a lack of character, but that they are illiberal to the core on hallmark progressive issues of concern for equality, transparency and feminism.

Attorney General Eric Holder came into office alleging racism and calling the American people cowards, and six years later is exiting, still blaming racism for his own self-inflicted failures. He leaves office as a caricature of incompetence and racial divisiveness.

Conspiracists once warned us that the government was buying up ammo to prevent private gun owners from purchasing it; now we learn that Obama by executive order may ban the most popular type of sporting ammunition. 

So - why this descent into travesty?
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A SAMPLE OF THE WORLD A YEAR FROM NOW Print E-mail
Written by Richard Rahn   
Tuesday, 03 March 2015

The world is a mess, but what will it look like a year from now? No one knows with certainty, but informed guesses can be made, in part, based on the direction of the economies in conflicted areas of the world. 

Global debt (including that of the United States) is now a higher percentage of global gross domestic product than it was before the Great Recession that began in December 2007, making the world increasingly vulnerable to a new financial crisis.

Here is a sample of countries that are facing economic problems and foreign policy conflicts, with the exception of Switzerland - which is included as a benchmark for good government, and economic and personal liberty. What will they be like in 12 months?

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JUST CALL ME "MRS. DEAD BROKE" Print E-mail
Written by To The Point News   
Friday, 06 March 2015

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HALF-FULL REPORT 02/27/15 Print E-mail
Written by Jack Kelly   
Friday, 27 February 2015

Details leaked this week of the deal President Obama wants to make with the mullahs in Iran. 

The U.S. military no longer can fight two wars at the same time.

Normally, what politicians say matters a whole lot less than what they do (or don't do). But there are times when a great speech by a great leader can bring clarity to the confused, hope to the despairing, bolster the resolve of a people to do what must be done at a critical moment in history.

2014 was the biggest year for terror in 45 years.

The Conservative Political Action Conference began Thursday.  The most popular speaker so far has been Scott Walker.  Now that he's clearly the frontrunner, the Lying Swine have been going after him hammer and tongs.
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THE WAGES OF WHITE GUILT Print E-mail
Written by Dr. Jack Wheeler   
Thursday, 26 February 2015

Mandalay, Burma.  This is a country struggling to enter the 21st century after being stuck in the 19th for the last half of the 20th. 

One of the results is an Internet that barely functions.  I have heard little of what is going on in the US and the world save for headlines, which are so irretrievably awful that I'm glad I'm isolated here or else my head would explode.

I'll keep this short.  Everything you are seeing right now with America coming apart at the seams at the hands of this Affirmative Action President has one and only one cause:  they are the wages of white guilt.

The one and only reason this evil, contemptible America-hating fascist has not been impeached for treason, the only reason anyone paid any attention to him whatever such that he was accepted to Harvard, made Editor of the Harvard Law Review, allowed to teach a course at Columbia, ran for Illinois State Senator, ran for Illinois US Senator, ran for the Dem presidential nomination, excused for attending a racist church for 20 years that prayed for God to damn America, got elected president, and re-elected president is the color of his skin.

Absolutely none of this whatever would have happened if his skin were white.
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HOW STUPID ARE LIBERALS WITH COLLEGE DEGREES? Print E-mail
Written by Jack Kelly   
Tuesday, 24 February 2015

Journalists incurious in 2008 about Barack Obama’s college grades, and how he got into Harvard Law School, or his associations with radical Islamists are morbidly curious about why Scott Walker dropped out of Marquette University, and with what he believes about evolution.

“As Scott Walker mulls White House bid, questions linger over college exit,” wrote Paul Farenthold in the Washington Post Feb. 11.

The questions linger only in Mr. Farenthold’s feverish imagination. Gov. Walker said left Marquette because the Red Cross offered him a good job. Unlike Barack Obama, he gave his college permission to release his academic records. He was a student in good standing when he left, Marquette confirmed.

For conservatives, who value accomplishment, this is a non-issue. Scott Walker has had a successful career, despite not having a college diploma. Dropouts Steven Jobs (Apple) and Bill Gates (Microsoft) have done all right too.

But for liberals, who value credentials, not having a college degree indicates stupidity (if the dropout is a Republican).

The difference between credentials and actual knowledge and accomplishment was starkly illustrated last week by Deputy State Department spokesperson Marie Harf.
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I REFUSE TO TAKE THE MEDIA'S BAIT Print E-mail
Written by Gov. Scott Walker   
Thursday, 26 February 2015

Americans believe our nation is facing some substantial challenges. Government spending is out of control. Terrorists seek to destroy our way of life. Our economic recovery has been slow. Our borders aren't secure. The federal government has usurped powers that rightly belong to our states.

And every day across Wisconsin, and as I travel the nation, I hear from people who share with me their worries about - and their hopes for - our country.

They worry about whether their children in college will be able to find a good job after graduation. And as a dad with two sons in college, I worry right along with them.

They talk to me about...
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GOOD RIDDANCE TO THE MASTER OF WARMISM RUBBISH Print E-mail
Written by James Delingpole   
Wednesday, 25 February 2015

So Rajendra Pachauri has finally announced his resignation from the Intergovernmental Panel on Climate Change (IPCC) - a decision at once momentous and spectacularly irrelevant.

It's momentous because the IPCC is one of the world's most powerful organizations, with presidents and prime ministers across the globe in thrall to its prognostications of climate doom, and the fate of nations and economies partly decided by its ongoing insistence (against all evidence) that "global warming" remains a credible crisis which can only be solved by throwing stupendous quantities of taxpayer money at it.

And it's spectacularly irrelevant because the bearded, cricket-loving, ice-shunning groper was never more than an empty figurehead, probably chosen - a bit like UN Secretaries General - because he fitted the right ethnic and socio-political profile rather than because he had a particular skill set which qualified him especially for the job.

He was, after all, a railway engineer by training, not a physicist or a meteorologist or a climatologist. I'm not making this up.
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IN DEFENSE OF FREE TRADE Print E-mail
Written by Matt Ridley   
Wednesday, 25 February 2015

An American friend recently sent me a gift here in England as a thank you for a weekend's hospitality. It arrived in the form of a card from the Post Office telling me to pay a hefty sum of tax before the item itself (a wooden bowl) could be delivered.

Had my friend been Scottish or French or from the next village there would have been no charge. What business has government putting a tariff barrier between two friends?

Last week the British Conservative party chairman Grant Shapps delivered a passionate defense of free trade of the kind that used to come from the radicals in the days of the Corn Laws 200 years ago but these days is rarely heard from any part of the political spectrum. Crucially, he took the perspective of the consumer, not the producer.

The free trade debate that used to be such a huge part of British politics is re-emerging because of the trade agreement being negotiated between the United States and the European Union, the Transatlantic Trade and Investment Partnership or TTIP. It's driving the Lefties batty.  That's fun and here's why.
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TIME TO SHUT DOWN ISLAMISM'S FINANCIAL NETWORK Print E-mail
Written by Richard Rahn   
Tuesday, 24 February 2015

How would you feel if you had to have bodyguards anytime you moved about — not because you were a voluntary celebrity, such as a presidential candidate or movie star, but merely because you exercised your free speech right by publishing cartoons that some found offensive?

Danish journalist Flemming Rose published cartoons of Muhammad in the Danish newspaper Jyllands-Posten back in 2006, which led to many violent riots by Moslems around the world. He has written a book, “The Tyranny of Silence: How One Cartoon Ignited a Global Debate on the Future of Free Speech” (the English edition was just published by the Cato Institute Press).

Mr. Rose, rather than hiding, even though a fatwa has been leveled against him calling for his death, has traveled and spoken widely in his unrelenting advocacy of free speech and against the tyranny of silence. He has argued that “the lesson from the Cold War is: If you give in to totalitarian impulses once, new demands follow.  The time is now to shut down Islamic Terrorism's financial network.
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BEATING SWORDS INTO FOOD STAMPS Print E-mail
Written by To The Point News   
Friday, 27 February 2015

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HALF-FULL REPORT 02/20/15 Print E-mail
Written by Jack Kelly   
Friday, 20 February 2015

Foremost in the news this week were more atrocities by Islamic terrorists, more frantic efforts by President Barack Obama and his minions to deny Islam has anything to do with Islamist terror.

ISIS is very much Islamic, writes Graeme Wood in a long, must read analysis in the Atlantic. It scared the bejeebers out of a liberal colleague at the Post-Gazette, who wanted to make sure I saw it.

There are moderate Muslims willing to fight ISIS, but Zero won't help them.

The way to defeat ISIS is with a jobs program, said Marie Harf, the dumber one in the State Department's Dumb and Dumber tag team of spokessluts.

A federal judge in Texas has temporarily blocked Obama's illegal amnesty plan.

Obamacare has a nasty surprise in store for millions of Americans.

Can a Republican be elected to the U.S. Senate from California? Can pigs fly? (Maybe.)
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BURMA NOTES Print E-mail
Written by Dr. Jack Wheeler   
Thursday, 19 February 2015

Inle Lake, Burma.  This is the first of a "Notes" series, a running commentary on where I am as I make my way across the world to the Vegas Rendezvous in late April.  We start in Burma, where I have been for the past week.  These are my impressions so far.

*Burma - 25 years ago the socialist military dictatorship insisted the name be changed to "Myanmar," but I along with most everyone else still call it Burma - is just emerging from a hermit socialism isolated from the world, and at a breakneck pace. 

The contrast can be jarring.  You see oxcarts with the farmer holding the reins to the oxen in one hand, and making a cell phone call with the other.  But overall, the "energy" of Burma is one of gentle serenity.  Even in Rangoon where the traffic is horrendous, there's no road rage of any kind, no honking horns.

Outside of Rangoon, almost no one drives fast, frantic to get where they are going.  People proceed at a measured pace, they don't race; everyone makes room for everyone, whether an oxcart, a pedicab, a motorbike, car, bus or truck.  Every smile is returned, and every wave.  It's easy to see why the British fell in love with Burma - it's the people, their gentleness, their serenity of soul.
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