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LOCKING THE DOOR TO ISLAM

Geert Wilders
Geert Wilders

Last Tuesday (9/27), I visited Maassluis. It is town near Rotterdam, where the indigenous Dutch inhabitants have become the victims of immigrant youths of Moroccan descent.

Cars have been demolished, houses vandalized, people threatened. The Dutch no longer feel free and safe in their own city. When the local radio station interviewed some of the victims and referred to the perpetrators as Moroccans, it received an anonymous letter: “You are racists! Your time will come! I won’t take care of it because I am too old. But our boys are the new soldiers.”

Maassluis. It is just one of the many Dutch towns and neighborhoods terrorized by Moroccan or Turkish youth gangs. Others are Schilderswijk, Oosterwei, Kanaleneiland, Zaandam, Helmond… Not surprisingly, a poll shows that 43% of the Dutch people want fewer Moroccan immigrants in our country. These people are not racists; they are decent people, patriots who love their country and do not want to lose it.

The great Ronald Reagan once said that “Freedom is never more than one generation away from extinction.” These wise words are more true today than ever before. We are the free men and women of the West.

Freedom is our birthright. But if we fail to defend it, we are bound to lose it. And, sadly, that is exactly what is happening today.

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THE REAL EVIL IN CHARLOTTE

Keith Lamont ScottKeith Lamont Scott was scum.

He had been convicted of assault with a deadly weapon in two different states and convicted of assault in three states. He had been hit with “assault with intent to kill” charges in the 90s. His record of virtue included “assault on a child under 12” and “assault on a female.”

The media spin; “Family and neighbors call Scott a quiet ‘family man’.”

This vicious monster’s career of crime ended when he was shot by Brentley Vinson, an African-American police officer, protecting himself from the latest rampage by this “quiet family man.”

Brentley Vinson is everything that Scott isn’t. The son of a police officer, Brentley dreamed of following in his father’s footsteps. He used to organize his football team’s bible studies and mentored younger players. His former coach calls him a “natural leader” and says that, “We need more Brent Vinsons… in our communities.”

Except that Obama, Black Lives Matter, the media, the NAACP and everyone else going after this bright and decent African-American officer has decided that what we really need are more Keith Lamont Scotts, not Brentley Vinsons.

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THE GODFATHER OF GREEN SAYS CLIMATE CHANGE RELIGION IS BUNK

James Lovelock
James Lovelock

James Lovelock, inventor of Gaia Theory and godfather of the modern environmental movement, has finally renounced the green religion.

Climate alarmism, he says, is not “remotely scientific”; one volcano could make more difference to global warming than humans ever could; the computer models are “unreliable”; greens have behaved “deplorably”; and anyone who tries to “predict more than five to ten years is a bit of an idiot.”

Though this is not the first time Lovelock has rowed back on his earlier climate catastrophism – in 2012 he was already admitting “I made a mistake” – it’s his most emphatic rejection yet of the green litany.

Lovelock ascribes the dramatic change in his once fervently alarmist beliefs to the fact that he has “grown up.”

Only ten years ago – when the inventor, scientist and environmentalist was a mere spring chicken of 87 – Lovelock argued in his book The Revenge of Gaia that mankind was doomed.

Not any more.  What’s doomed are the computer models on which the religion of climate change are based:  “It’s only got to take one sizable volcano to erupt and all the models, everything else, is right off the board.”

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THE TRIUMPH OF BREXIT

BrexitPrime Minister Theresa May wants Britain to be “the most passionate, most consistent, most convincing advocate for free trade.”

With world trade stagnating, Britain has both a vital duty and a golden opportunity. It worked for us before.

Next year sees the 200th anniversary of David Ricardo’s insight of “comparative advantage” — the counterintuitive idea that trade benefits “uncompetitive” countries as much as efficient ones. If one country is better at making both cloth and wine than another, it can still pay it to get its wine, for example,  by making extra cloth to swap for the other’s wine.

Or, as somebody once put it, even if Winston Churchill is a very good bricklayer (he was), it still makes sense for him to write books or run governments, and pay somebody else to build his walls.

So the government’s view of trade should be: the more the better, the freer the better, and unilateral is fine.

There is no episode in history of a country opening itself more to world trade without getting richer. The Phoenicians, Athens,  Gujarat and Bengal,  Venice, the Portuguese, the Dutch, the Victorian British, America, Singapore, Hong Kong, China after Deng Xiaoping — in every single case, countries that opened to trade got much richer very fast. 

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HALF-FULL REPORT 09/30/16

It was a half-full kind of week for Donald Trump, who had a mixed debate performance, and then allowed himself to be sucked into an unending flap over former Miss Universe Alicia Machado. Yet despite this...

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So first, the debate, which proved what I thought: both Trump and Hillary are bad debaters. But there's a difference.

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The moderator, of course, was evil: the Candy Crowley of 2016. That didn’t help.

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Trump may have seemed like he was spewing word salad at times, but he actually got in some highly-repeatable, highly-replayable soundbites (WATCH THEM!)

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So who the heck is Alicia Machado? It turns out that Ms. Machado has been a very bad, or at least a very stupid, girl.

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I always give you polling data, and I won’t disappoint you this week.

Despite everything, Trump is still in good shape. Check out the L.A. Times poll this afternoon...

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Shortly before the less-than-great debate, Elon Musk – by a mile our HFR Hero of the Week!

HERE WE GO WITH THIS WEEK'S HFR!!!

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TRUMP WIMPS OUT

Despondent Charlie BrownAs Charlie Brown would say, “Rats!”  Now we have to go back to just voting against the nightmare of Hillary.

Conservative pundit John Podhoretz summed it up: “Trump’s Debate Incompetence a Slap in the Face to His Supporters.”

The best editorial page in the country, that of Investors Business Daily, put it this way, “Trump and Clinton Debated, But It’s the Nation that Lost.”

And what’s with all the whining on the right about Lester Holt being pathologically biased?  Of course he was – and the sun rises in the east.  Trump was surprised by this?  He let some hack Clintonista moderator take charge of the debate and steamroller him? 

After the debate, Trump tweeted how it was an outrage that Holt didn’t ask about the Clinton Foundation or Benghazi.  Say what?? It’s Politics 101 that if you’re asked a question you don’t want by some schmuck reporter, you give the answer to the question you do want. 

It's Trump's fault, not Holt's, that there was no discussion of Benghazi, of Syria, of Obamacare, of the Clinton Foundation, of immigration, of the four recent acts of Moslem terror, of the rioting in Charlotte and Hillary's effective endorsement of the rioters.

His new nickname should be “Holding Back” Trump.  Last night (9/27) in Orlando, he claimed he was “holding back” because he didn’t want to “embarrass” Mrs. Clinton.  Anyone who believes that should be easy to sell a bridge to.  Is there a Trump supporter on earth who wanted to see him “hold back” in the Monday night debate and not embarrass her to the moon?

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ISLAMIC TERRORISM AND MOSLEM MIGRATION

Captured Moslem Terrorist Ahmad Khan Rahami
Captured Moslem Terrorist Ahmad Khan Rahami

The wave of Moslem refugee terror began with a bomb targeting a U.S. Marine charity run in New Jersey. By evening a pressure cooker full of shrapnel has exploded outside a Manhattan building for the blind.

An hour later, a rampaging Moslem terrorist began stabbing people inside a Macy’s in Minnesota, asking them if they were Moslem and shouting the name of “Allah,” the genocidal Islamic deity of mass murder.

And that was one Saturday (9/24), two Moslem refugees and a wave of national terror 1,200 miles apart.

What did Elizabeth, New Jersey and St. Cloud, Minnesota have in common?

New Jersey is a map of Moslem terror plots because of its huge Moslem population.  Minnesota has suffered from the presence of the largest Somali migrant population in the country. And so a state which used to be known for its Swedish and German immigrants instead became a recruiting ground for ISIS and Al-Shabab.

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SANDSTORM OVER THE HOUSE OF SAUD

Sandstorm over Riyadh
Sandstorm over Riyadh

Saudi Arabia has injected $5.3bn of liquidity into the banking system to stave off a financial crunch as the oil slump drags on and capital continues to leak out the country.  This just as the US Congress overrides Obama’s veto allowing 9/11 families to sue the Kingdom.

Three-month interbank offered rates in Riyadh - the stress gauge watched by traders - have reached the highest since the Lehman crisis,  ratcheting up 145 basis points over the last year.

The M3 money supply has contracted by 8% in twelve months. The loan-to-deposit ratio has already blown through the government's safety ceiling of 90%, touching an all-time high.

"Deposits are falling and liquidity has been tightening for month after month," says Patrick Dennis from Oxford Economics.

Foreign exchange reserves have slipped to $550bn from a peak of $746bn as the regime sells off the family silver to pay the bills. The International Monetary Fund says the budget deficit reached 15.9% of GDP last year and will be an estimated 13% this year.  

The reserve loss automatically tightens monetary policy and can be painful. Fitch Ratings said there may have to be a state bail-out of construction firms sinking into deeper trouble. The Bin Laden Group is laying off 77,000 workers.

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COUNTERING CHINA’S PSYCHOLOGICAL WARFARE

Chinese soldier guarding US “Flying Tiger” P-40 fighters during WWII
Chinese soldier guarding US “Flying Tiger” P-40 fighters during WWII

An American narrative is needed to disarm China’s victimization rhetoric.

The government in Beijing claims that China is the long-suffering victim of Western powers, Japan, and other countries. In this narrative, China’s rulers bear hardly any faults.

Without any sense of irony, the People’s Republic of China (PRC) repeats its Orwellian twist that China is the “victim” in the South China Sea, though it is the strongest claimant and bullies others to submit to China’s control of areas by using militarized, environmentally-damaging claims to fragile reefs, rocks, islands, and maritime areas within an egregious “nine dash line.”

The PRC propaganda machine manipulates messages by citing a so-called “century of humiliation.” In a self-serving story supposedly speaking for the people, the PRC’s English-language mouth-piece, China Daily, used this convenient definition this past August: “For many Chinese, the ‘century of humiliation’ started with the First Opium War (1840-1842) and lasted until 1949 when the People’s Republic of China was founded.”

A historically-grounded narrative is needed to counter China’s charges, which have real implications for American and other national policies. The PRC plays the “victim” card to its advantage, seeking to compel compliance by putting others on the defensive, to undercut American leadership, to deflect blame, to incite others to regurgitate its case, to indoctrinate internal opinion to support the regime, to stoke “nationalism” for leverage, and to arm psychological warfare that positions Beijing as “just.”

In fact, in a fuller history of more than 100 years, the United States has supported reforms in China for progressive government, liberalization, and education for generations of people, as well as integration of China into the international community (even for the regime of the Communist Party of China).

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HOW TO SEPARATE SENSE FROM NONSENSE IN ECONOMICS

Basic EconomicsIt is always disheartening to hear politicians propose policies that will not make citizens richer with more opportunities as claimed, but make them less wealthy with fewer options.

Politicians who advocate for higher capital gains tax rates, higher taxes on the “wealthy,” higher inheritance tax rates, higher tariffs, more government spending and more regulations, fail to recognize, or admit, that all of this has been tried many times before, with disastrous results. They are either ignorant of economic history or are relying on the ignorance of the press and the people to buy such claptrap.

Even more disconcerting are those economists who try to make an argument of why this time the outcomes from bad policies are going to be different — apparently to curry favor with the political and media class.

The high priests of many academic disciplines, with the intent of making it seem more difficult, create many unnecessary new words, when simple, commonly understood words in the English language will suffice in most cases.

Here’s how to easily acquire basic economic literacy without the jargon, so that you’ll know more about economics than many in academia and most anyone in politics.

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HALF-FULL REPORT 09/23/16

So he finally did it. Moments ago, Ted Cruz endorsed Donald Trump for President.

In a public Facebook post, the Texas Senator and conservative lion wrote...

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Ted’s endorsement comes just before Monday night’s first-ever debate between Donald Trump and Hillary Clinton, a cage match if there ever were one.

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Egypt was not Illery’s only foreign policy embarrassment this week. Former Mexican Foreign Minister Jorge Castaneda declared...

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If that weren’t bad enough, Nation of Islam founder Louis Farrakhan dismantled Barack Obama this week. You just have to watch it to believe it (SEE THE VIDEO)

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Kaepernick’s story is not merely glass-half-full: it’s close to brimming over. The NFL’s ratings are tanking, with the opening game down 8% from 2015, and Sunday’s numbers down a whopping 13%.

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The left needs to distract us with looming, future disasters. The real disasters – riots in Charlotte, “rapefugees”, Iran and North Korea getting the Bomb – are all their own doing.

Worst example of the week: “Democratic Socialist” Venezuela

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Will it end like 1980?  Let's see! Here we go with this week's Half-Full Report!

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THE WORLD’S OLDEST WAR

Marcus Aurelius – Hapsburg Palace, Vienna
Marcus Aurelius – Hapsburg Palace, Vienna

Vienna, Austria.  This is a particularly apt place to discuss the world’s oldest war.  It’s been continuously running for almost 14 centuries, and it’s getting worse today.

First, however, let us note that Vienna has more history, beauty, charm, class, and friendly people than just about any city in Europe.  It leaves Paris in the dust. 

Just one example.  Vienna was founded by the Romans as Vindobona in 15 BC on the south bank of the Danube.  On March 17, 180 AD, Roman Emperor Marcus Aurelius was in his ornate tent in the center of the Vindobona fortress, having just won a victory over marauding Germanic tribes.

For many centuries, the street in Vienna along the traditional location of that tent has been called Schwertgasse – Sword Street.  That’s because on that day in 180, the Emperor’s son, Commodus, murdered his father with a sword thrust.  In the movie, Gladiator, Commodus smothers him – but nonetheless, the movie depicts real history.

Aurelius to this day is revered by Austrians.  That’s why there’s a huge statue of him in the courtyard of the Hapsburg Palace or Hofburg in the center of Vienna.

For the next thousand years, the people south of the Danube adopted and lived by Christianity, oblivious to the war that had emerged in the Middle East, Asia Minor, North Africa, and Spain between their fellow Christians and people calling themselves Moslems. 

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CHINA IS NOW THE EPICENTER OF GLOBAL RISK

The Great Wall is Crumbling

China has failed to curb excesses in its credit system and faces mounting risks of a full-blown banking crisis, according to early warning indicators released by the world’s top financial watchdog.

A key gauge of credit vulnerability is now three times over the danger threshold and has continued to deteriorate, despite pledges by Chinese premier Li Keqiang to wean the economy off debt-driven growth before it is too late.

The Bank for International Settlements – the central bank of central banks, based in Basel, Switzerland – warns in its September 2016 quarterly report that China’s "credit to GDP gap" has reached 30.1, the highest to date and in a different league altogether from any other major country tracked by the institution.

It is also significantly higher than the scores in East Asia's speculative boom on 1997 or in the US subprime bubble before the Lehman crisis.

Studies of earlier banking crises around the world over the last sixty years suggest that any score above 10.0 requires careful monitoring.  The credit to GDP gap measures deviations from normal patterns within any one country and therefore strips out cultural differences.

China is now the epicenter of global financial risk.  Why?  Because the Chinese banking system is an arm of the Communist Party.

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