Each generation is born into history out of a moment of crisis. We are defined by our struggles. By the wars we fight and do not fight. On a Tuesday morning in September 16 years ago, my generation was born into history.

Some of us were born into it better than others.  On September 11, some of us opened our eyes. Others closed them as hard as they could.

That Tuesday irrevocably divided my generation. Some joined the military, the police or became analysts. Others turned left-wing activists, volunteered as lawyers for terrorists or converted to Islam.

Everything I needed to know about Islam, I learned on September 11. The details of the theology came later. I couldn’t quote the Koran while the sirens were wailing. But I learned the essential truth. And so did you.

According to the New York Times (9/12), Gary Cohn, chief economic advisor to President Trump, is to host a meeting in New York with the world’s leading climate and energy ministers next Monday (9/18).

This meeting he has planned with the world’s climate and energy alarmists will no doubt be sold as just another case of oiling the wheels of diplomacy.

It’s not. It’s a deliberate provocation; an act of war; a statement of intent by one of the most vicious alligators in the swamp that no way is that stagnant, slimy, watery domain going to be drained because the living there is so easy that it must never be allowed to end.

That’s because the climate change industry is a $1.5 trillion a year boondoggle arranged for the benefit of dodgy second-rate scientists, rent-seeking corporations, power-crazed technocrats, publicity-hungry anti-capitalist NGOs, and financiers like Gary Cohn.

The election of Donald Trump as the 45^th American president in November 2016 resulted in a predictable wave of barely concealed anti-American sentiment in the European media and officialdom alike. The reasons are not difficult to understand.

The European Union as the major European political institution is generally left-of-center and much closer ideologically to the Democrat Party elites in the United States than to the Republicans. Further, the European media are closely attuned to the mainstream media in the U.S. and look at the country through pretty much their prism.

What has followed since is more disturbing still because it points to new fault lines that augur ill for the West and Europe in particular. The German Left as represented by foreign minister Sigmar Gabriel has gone as far as demanding the withdrawal of American nuclear weapons from Germany, which in practice means the end of NATO.

Even more serious is Angela Merkel rapidly becoming Putin’s Chamberlain. For the picture of Merkel fawning over Putin above certainly brings to mind the infamous British Prime Minister doing the same with Hitler in 1938:

We are still a great people. The Cajun Navy and other rescuers during Harvey remind us of that.

But we lack the culture or the politics to reflect that greatness. The noble impulses that lead men to risk their lives in flooding are there. But our society no longer has the vessels to hold and sustain those impulses.

The media doesn't quite know what to make of the rescuers. You can see the itching to return to the stories that it knows and likes. Russia. Trump hit pieces. People punching each other in the street over politics. It swerves at the first sight of a Confederate flag on a rescue boat or Ted Cruz's Sandy vote. It doesn't want to dwell on the best of us. Behavior like that doesn't make sense anymore.

Generations have grown up with leftist protesters as their definition of heroes. Look in a history book and the last 70 years consisted of "heroes" who marched around waving signs until they got everything they wanted. And every day in the news there are more "heroes" marching for illegal aliens, transgender bathrooms, the supremacy of black lives and any other identity politics cause.

But waving a placard to the adulation of the media isn't heroism. Saving lives is.

The nuclear confrontation between the US and North Korea entered a critical phase Sunday (9/03) with North Korea’s conduct of an underground test of a thermonuclear bomb.

With North Korea now a direct threat to US cities, the confrontation isn’t about US superpower status in Asia, and the credibility of US deterrence or the capabilities of US military forces in the Pacific. The confrontation is now about the US’s ability to protect the lives of its citizens.

The distinction tells us a number of important things. All of them are alarming.  Which brings us to China.

China has been the main beneficiary of North Korea’s conventional and nuclear aggression and brinksmanship.  This state of affairs was laid bare in a critical way last month.

The next head of NASA is likely to be an ex-Navy fighter pilot turned Republican congressman who believes strongly in space exploration but is skeptical about man-made climate change.

What’s not to like about about Trump’s nomination of Rep. Jim Bridenstine (R-Oklahoma) for the job of NASA’s administrator?

Everything, if you’re a liberal.

According to New York Daily News columnist Linda Stasi, Trump just blew the perfect chance to change his “presidency from the chaotic mess of threats, bitterness and bilious paranoia to one of rationality and reasonableness.”

It would be nice to dismiss Ms. Stasi as merely the deranged frothings of a rent-an-opinion, left-wing columnist who has bizarrely chosen to borrow her surname from that of the secret police in former Communist East Germany. Unfortunately, she’s by no means the exception.

Most liberals think as she does.  Indeed, so do quite a few establishment conservatives – like Senator Marco Rubio.

The US Treasury and the Federal Reserve are both poised to start draining liquidity from the financial system, threatening a bout of dollar scarcity and a potential shake-up of currency markets over coming months.

The twin-shift in policy is likely to tighten the availability of credit and send a strong impulse through Wall Street and global bourses, though whether it will be powerful enough to dampen frothy asset prices in the current exuberant mood is an open question.

“As we approach the fourth quarter, dollar scarcity could return as a theme. The upcoming tightening of US liquidity is not fully reflected in market pricing,” says Christin Tuxen and Jens Naervig Pedersen from Danske Bank.

What makes the US Treasury actions doubly-potent this time is that the Fed is about to pull the trigger on ‘quantitative tightening’ (QT) at exactly the same time, taking the first steps to wind down its $4.4 trillion balance sheet after almost a decade of ultra-stimulus.

"This will not be a walk in the park," says Danske Bank.

Donald Trump's appetite is whetted. He knows that American companies have stashed trillions of dollars overseas in what amounts to the greatest cash reserve in the world.

Apple has $257bn parked abroad beyond the reach of the Internal Revenue Service. Alphabet (Google) has $126bn, Microsoft $84bn, Cisco $68bn, and Oracle $59bn. The US Bureau of Economic Analysis estimates that total retained earnings outside the country have mushroomed to $4 trillion.

The President is determined to lay his hands on this money, or at least to divert it back into the US economy. The latest briefings from Washington suggests that the White House is preparing 'mandatory' action as part of his tax reform, unlike the previous voluntary attempts to lure back money through tax holidays.

If Mr. Trump succeeds, these repatriated capital flows will have a volcanic impact on the US dollar, Wall Street, and the global financial system, with big winners and big losers.