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HALF-FULL REPORT 04/22/11


It's Good Friday!  My wife and I always personally celebrate Good Friday, because that was the day we met almost three decades ago.  It sure was a good day for us!

Sunday, of course, is Easter, a celebration of renewal, rebirth, and resurrection.  The Resurrection itself was 1,978 years ago (33 AD).  Today, America is being crucified on a Cross of Debt, and Congress will soon be faced with a choice to resurrect her or let her die.

By the time the House returns from "Spring Recess" on May 2nd, federal spending will have exceeded the debt ceiling.  Expect to see a tsunami of enemedia scare stories predicting an apocalypse if the House doesn't cave and vote to raise it - such as this one in Politico.

The article encapsulates all the outright lies of the parasite class:  "the full faith and credit of the United States" hangs in the balance, the House GOP will "plunge the nation into default" if it doesn't cave, blah blah.

This is willful lying.  The federal government will continue to have plenty of tax revenue to service its old debt, to pay the military, but not for, say, Planned Parenthood or the EPA.  What really will "send global markets into a tailspin" is if the debt ceiling is raised and Uncle Sam continues his fiscal insanity.

So here we are, the moment has arrived, and it's ironic that it comes at Eastertime.

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WHY ISNT BARNEY FRANK IN JAIL FOR CAUSING THE FINANCIAL CRISIS?


Was our great financial crisis caused by greedy and reckless bankers and Wall Street players?  Or by a broad range of individuals, financial institutions and governments who became less risk-averse and prudent?  Or by government housing policies that brought on the housing bubble and mismanaged the risks?

Without waiting for the evidence, many in the political class, and particularly those on the left, immediately bought into the argument that the financial crisis was caused by greed. This view of the cause provided much of the political energy behind the passage this year of the Dodd-Frank Act, also known as the financial reform act.

Peter J. Wallison, a former general counsel of the U.S. Treasury and now a fellow at the American Enterprise Institute (AEI), has debunked this argument, conclusively showing in a study that Barney Frank's government housing policies caused the crisis.

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THE DEMOCRATS’ DARK DEPRESSION SECRET


What do you think of when you hear or see a reference to The Great Depression of the 1930s?  What emotions come up for you?

For you and other normal Americans, words like "catastrophe" and "nightmare" come to mind, along with images of unemployment lines blocks long, soup kitchens, and heartbreaking poverty.  All the emotions associated with it are negative.  America would have been incredibly better off if The Great Depression had never happened, right?

You may think and feel that way, but Democrats - the folks who run the Democrat Party - don't.  You may consider The Great Depression to be the worst thing that ever happened to America, next to the Civil War.  But for the Democrats, it was the best.  After all, the Democrats built their political power on The Great Depression and are very thankful for it. 

Further, it's their template.  If The Great Depression was their path to power before, then replicating it today is seen as the way to maintain their power into the future.  This is the Democrats' Dark Depression Secret.  Explains a lot, doesn't it? 

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FISH-EYED SACKS OF LOATHSOME BILE


Little good comes when Congress grabs control of American foreign policy and war-fighting strategies from the hands of a scandal-weakened White House. Of course, it is always possible that there are 51 forward-leaning, shrewd, patriotic, non-partisan senators assembled to make the tough, unpopular call to push on for victory, no matter how hard and long the struggle – LOL.

But it is vastly more likely that ignoble instincts beat in the breasts of the several senators assembled. Monday, for the first time, the foul odor of the Vietnam War denouement wafted through the Senate chamber during the debate on Iraq. The Democrats called for “estimated dates for the phased redeployment of United States Armed Forces from Iraq.”

Phased redeployment was the maneuver the French executed in June 1940 in the days preceding the German occupation of Paris. Phased redeployment is what the Vietnamese boat people did as they swam for their lives away from their homeland.


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TERRORIST SUPERHIGHWAY


President Obama deserves credit for authorizing the execution of Osama bin Laden and for significantly intensifying the drone campaign against terrorists. He's largely stopped romanticizing the Palestinians; has recognized that Putin made an ass of him; and has even hinted that he might stand up to China on some issues. 

But even if he turns into a combination of Ike, Reagan and Carl von Clausewitz in the coming months, his administration's foreign-policy record will forever be defined by his disastrous rush to leave Iraq - then brag about it.

Does anybody at the White House look at a map? I realize that, thanks to the left's death-grip on our education system, we've stopped teaching trivial subjects like geography in favor of gender studies, but you don't have to be able to name all 17,000 islands belonging to Indonesia to recognize that simply quitting Iraq opens a terrorist superhighway straight from Iran, through Iraq and Syria, to Lebanon, Hezbollah, northern Israel and the eastern Mediterranean.

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HALF-FULL REPORT 4/15/11


"I missed lunch for this?" That's how Texas Republican Congressman Jeb Hensarling dismissed with disgust Zero's fiscal policy speech on Wednesday (4/13).

This was, by general consensus, the worst speech in modern presidential memory.  "A new standard for class warfare rhetoric," Hensarling described it.  Arizona's Jeff Flake simply said it was "weird."

The best observation of all was that of Illinois Republican Joe Walsh:  Zero "is irrelevant right now.  It's like the train has passed him by."

Walsh is not dumb, he knows how much juice the Oval Office has.  He means that no one is paying any attention to Zero's policy proposals because he hasn't got any - that Zero's only power is to block Republican objectives, maintain the status quo, and thus continuing to bankrupt America while enriching his cronies and supporters.

In other words, all Zero is, like the Corruptocrat Party in general, is in the way.  They are nothing but obstacles, objects to be gotten around.  Let's hope the Pubs remember this when it comes time to raise the debt ceiling next month.

*  *  *  *  *  *
The utterly asinine budget deal that Boehner said was the best he could get does not inspire the slightest confidence, however, in Republican courage.  Pathetic enough at $38 billion in phony cuts, the CBO then revealed it was actually a microscopic $352 million cutback.

Yet this turkey sailed through the House yesterday (4/14), 260-167.  How could this happen?

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WILL THE GOP GO FOR A TOUCHDOWN OR PUNT?

Did you know that federal government spending and revenues in 1968 as a percentage of gross domestic product (GDP) were almost identical to the levels in 2008?

What is new is the big jump in federal government spending in the past two years, from an average of about one-fifth of GDP to about one-quarter of GDP, and to this must be added another 13 percent for state and local government spending as a percentage of GDP, causing the total government sector to rise from about one-third of GDP to almost 40 percent.

The Republicans' big test is that because they oppose tax increases — correctly in my judgment — they must propose ways to bring down government spending to the historic average of about 20 percent of GDP.

Thus the real test for the Republicans: Will they be courageous and responsible in proposing real solutions to the spending problem, or will they "punt" like the Democrats and watch the economy go over the cliff?

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THE SCAM OF CHINA


The headline on Bloomberg today (10/22) is dramatic:  China's Economy Grows 8.9%.

So the Scam of China continues, one the greatest feats of cook-the-books fraudulent accounting in history, but at least it's a teachable moment in Chinese - and Communist -  metaphysics.

First, the scam.  How is it possible for China's explosive economic growth to be based on gargantuan exports of manufactured goods, for the sale of those exports to fall off a cliff (down over 20% this year), then continue to grow just as explosively without massive exports?

The answer is a) you can believe it because you are Alice in Wonderland's Red Queen who could believe "as many as six impossible things before breakfast," or b) the Chicoms are lying.  Which do you choose?

They are lying because, for Chinese, and for Marxist Communists, there is no difference between make-believe and reality.  There is no such thing as reality.  There is only what people believe.  If people believe something is true, it is.  If they don't, it isn't, it doesn't exist.  This is best exemplified by the Chinese concept of "face" or lien.

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THE ANTI-ALLY OF PAKISTAN


After days of vehement denials and indignant claims that NATO's recent attack on Pakistani outposts was unprovoked and deliberate, a "senior Pakistani defense official" has admitted that it was the Pakistanis who started the firefight with "mortar and machine gun fire."

His words come a bit too late to stop the firestorm of anti-Americanism and the damage to the Afghan war effort, but may prove useful if they prompt Washington to take a sober look at our "alliance" with Pakistan.

The stark reality is that ten years after we forced Islamabad into a shotgun wedding in the aftermath of 9/11, Pakistan is no more of an ally (let alone a "strategic" ally) than before, but an adversary with interests often diametrically opposed to our own.

A survey of the Pakistani press in the days since the border incident reveals a society that is in serious trouble. Hysterical anti-Americanism aside, stories included:

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HALF-FULL REPORT 04/08/11


Aren't Prelims just so exciting?  Every boxing fan knows the preliminary bouts are where the real action is - who cares about the Main Event, right?

So - the entire gaggle of DC elite and pinkostream enemedia punditry is going ga-ga-goo-goo over The Shutdown looming over them at midnight tonight - and while this is going to be really exciting to watch, baby, they ain't seen nothin' yet.

As we discussed last month in A Tsunami of Insanity, the only chance we have to divert the insanity from sweeping the US economy away is for Congress next month to refuse to raise the debt ceiling.  As we saw in last week's HFR, one Senator who realizes this is Marco Rubio.

This week, Reuters/CNBC revealed the numbers.  Brace yourselves, hold on tight.  For the federal government to continue spending at current levels for the rest of FY2011 - i.e., for just the next six months -  Congress will have to increase the federal debt ceiling by over one trillion dollars.

Yes, it will take a trillion dollars of more debt just to keep the federales going to the end of September.  To keep them going through November 2012 will take well over two trillion.

Gasping for breath?  Feel you need three fingers of Famous Grouse?  Better keep the bottle handy because this is coming fast. 

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PUT THE DEPARTMENT OF EDUCATION IN A TIMEOUT

The U.S. Department of Education was created with the primary stated goal of increasing students' test scores, but test scores for 17-year-old American students have remained essentially flat since 1970. The department's budget has grown to a whopping $107 billion this year. Per pupil, taxpayer-financed education spending (adjusted for inflation) has risen by more than 200 percent since 1970 (and 150-plus percent since 1980). Clearly and unambiguously, the department deserves a grade of F.

The employees and bureaucrats at Education have been rewarded for failure each year by ever-increasing budgets, which give them more control of state education departments and local school boards. If you reward failure, you tend to get more of it, and if you reward success, you tend to get more successes. Thus, it is no surprise that test scores have not improved.

Suppose Congress said to the department, "We are going to cut your budget and payroll by 20 percent per year until test scores start improving, and if they have not substantially improved within five years, the department will be dust." What do you think would happen to test scores?

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A TIME FOR CELEBRATING WESTERN CIVILIZATION


The second week of October offers a triad of heroic anniversaries worth celebrating by any admirer of Western Civilization.

Yesterday, October 11, was time to celebrate the 1,277th anniversary of the Battle of Tours in 732 AD, when Charles Martel (686-741), forever known as The Hammer, and his 30,000 Christian soldiers crushed an invading horde of 200,000 Moslem Jihadis in what is now central France. 

Tomorrow, October 13, is for celebrating the 84th birthday of the great Lady Champion of Liberty, the most heroic woman of the 20th century, Margaret Thatcher.  The story of how she, with Ronald Reagan and Pope John Paul II, saved Western Civilization from Soviet Communism is told in Now There Is One (April 2005).

Today, October 12, is for celebrating the 517th anniversary of Columbus' discovery of America. We commemorate this as a true discovery in contrast to all the claims of Vikings, Chinese, Irish, and others who supposedly came earlier - for once and only after  Columbus discovered America, it stayed discovered.

Unfortunately, Columbus Day is for most Americans just an excuse for a three-day weekend.  What it should be is a commemoration and celebration of  Western Civilization - which is why the Left hates Columbus and his holiday.

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THE WAR FOR THE FREE WORLD

Not too long ago, the conventional wisdom was that Europe would emerge as a unified and mighty economic and political superpower. We were told it would engage in earnest, if friendly, competition with the United States, but that -- thanks to its substantially larger population and productive capacity -- the European Union (EU) would inevitably displace America on the world stage.

It took less than a fortnight of rioting in France, and now in several other countries of what Donald Rumsfeld has called "Old Europe," to lay bare the preposterousness of this prospect. Even before Islamists took to the streets of Paris' suburbs, the EU was a house of cards waiting to be toppled or burned down.

As usual, underlying conditions are clearer with hindsight. It is now unmistakable that Europe faces a "perfect storm" of socioeconomic, demographic, military and Islamist challenges.


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SHAPES OF THINGS TO COME


"We should do what we can to wake people up, but reality is far more eloquent than we can ever be."
-- Dagny on the TTP Forum

I'm afraid Dagny is right. America probably won't wake up until the OPM (Other Peoples' Money) suddenly runs out, quite possibly with the dollar blowing up and all the drastic consequences (how do we then import oil?) thereof.

Although we don't know yet which candidate will win the Republican nomination or whether that candidate will replace BO, we already know enough to foresee some near future consequences that will occur whoever wins.

Whether BO wins another term or one of the plausible Republicans wins, the five most important existentially threatening problems and their outcomes will be the same.  These are the shapes of things to come.

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HALF-FULL REPORT 04/01/11


Well, he had to crack under the pressure sooner or later, and thank heavens it's sooner.  Everyone on Capitol Hill this morning can't stop talking about it.  Boehner and Reid have just been told to expect a momentous announcement from the White House. 

At 9pm EDT this evening, the President will announce on national television that, due to the overwhelming difficulties the nation faces which have proven impossible for him to solve because Republicans refuse to cooperate, he is resigning the presidency effective immediately.  Good luck, America, he will say, you'll have to solve your problems without me.

And yes, today is April Fool's Day.

*  *  *  *  *  * 
So let's talk about fools - and their luck.  Zero just might pull Libya off.  He'll have David Cameron to thank for it, and MI6, which is disintegrating Gaddafi's regime via defections.

Conservative contempt for Zero is so bottomless that many don't want him to succeed even when it's in our clear interests that he do so.  He was right in saying the US could not stand by while Gaddafi perpetrated genocidal slaughter upon his own people, and wrong in not solving the problem immediately by an assassination strike on Gaddafi.

So now he owns this war which has to be won - for if Gaddafi stays in power he will "return to international terrorism and resume his nuclear weapons program," warns John Bolton who is nobody's fool.  When asked about the rebels fighting Gaddafi and if they might be radical Islamists, John responded,

"Yes, there is uncertainty about them - but when there is Muammar Gaddafi on one side and uncertainty on the other, you pick uncertainty."

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