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THE WORLD’S MONEY PRINTING CHAMPION IS JAPAN, NOT THE US

Ambrose Evans-Pritchard June 12, 2014

There are no one-way bets in global finance, but Japan's stock market comes close. The authorities are about to funnel astronomical sums into Japanese stocks openly and deliberately under the next phase of Abenomics, both by regulatory fiat and by purchasing the Nikkei index directly with printed money.

Prime minister Shinzo Abe is unshackling the world's biggest stash of savings, the $1.3 trillion Government Pension Investment Fund (GPIF). Officials say the ceiling on equity holdings will rise from 12% to around 20% as soon as August, opening the way for a $100 billion buying blitz.

Mr. Abe's move comes sooner than expected and amounts to a market shock, though nobody should be shocked anymore as he keeps doubling down on the world's most radical economic experiment.

The Nikkei index stalled in December after rising almost 100% since September 2012, even though the Bank of Japan (BoJ) is still showering the economy with money, buying $75 billion of bonds each month. The BoJ's balance sheet will reach 70% of GDP by March 2015, three times the US Federal Reserve's.

HALF-FULL REPORT 12/27/13

Dr. Jack Wheeler December 27, 2013

Well, here we are - the last HFR of 2013. We start looking forward to what's in store for 2014 next week. For now, let's reflect on what's been going on in the world.

The best political cartoonist in the country is the IBD's Mike Ramirez. On Christmas Eve (12/24), he epitomized the year-long train wreck of the Republican Establishment:

And sure enough, right on cue, yesterday (12/26) Reince Preibus issued a RNC statement wishing everyone a "Happy Kwanzaa!" - proving Ramirez right about the GOP being the Stupid Spineless Party.

AMERICA AND THE WEST LEAD THE WAY TO THE BOTTOM

Richard Rahn September 18, 2013

The good news is that there are more countries managing their economies in a fiscally responsible way than there were two years ago.

Fiscally responsible means keeping average annual deficits less than average annual economic-growth rates, keeping net debt from exceeding one-third of gross domestic product, and maintaining a relatively small government.

The bad news is that most of the world's biggest economies, including that of the United States, are getting deeper and deeper in debt as a result of excessive spending, and will ultimately have to pay the price.

The chart below gives the details. They are not pretty for us nor for most of the West.

SURVIVING A RIOT

Bob Owens July 3, 2013

Korean shopkeepers during the 1992 Rodney King race riots in Los Angeles

As much as no sane person would want urban and suburban rioting, there are thugs making noise in social media that they would use the acquittal of Florida neighborhood watchman George Zimmerman as an excuse to riot and loot on a grand scale, not just in Sanford, FL where events took place, or in Florida, but nationwide. These criminals—there’s no other way to describe them—are asserting that they will use an acquittal as a excuse nationwide to go on a rampage in many areas.

The last time we saw rioting on a very large scale, it was very, very bad.

The very first thing you need to do is figure out a neighborhood protection plan (NPP). If you haven’t figure done out with your neighbors, I’d suggest you get a copy of (shameless commercial plug coming) A Failure of Civility and start working with them on that, posthaste.

I’d suggest that caliber is less important than magazine capacity and accuracy in such a situation, and that firearms with excellent penetration qualities and long range aren’t optimal. It’s tough to argue a case for lethal force at 400 yards even against a mob, and if your bullet is recovered from the body of a neighbor hiding in a closet, the court will still hold you responsible.

THE MICTURATING MONKEY

Dr. Jack Wheeler November 28, 2012

For close to a half-century now, ever since his first book in 1965, The Kandy-Kolored Tangerine Flake Streamline Baby, the best writer in America has been Tom Wolfe.

He told the story of the Hippie Sixties in The Electric Kool-Aid Acid Test (1968) and contrasted it with the Heroes of the Sixties, the original Seven Astronauts, in The Right Stuff (1979). No one can skewer lefties with a literary rapier better than Wolfe - as he proved in his portrayal of "limousine liberals" (he coined the term) in Radical Chic (1970). His exposure of the lefty fraud of Modern Art and its nostalgie de la boue (nostalgia for the mud) in The Painted Word (1975), is breathtakingly hilarious.

He has written four novels, the first in 1987, The Bonfire of the Vanities, which was made into a movie starring Tom Hanks, Melanie Griffith, and Bruce Willis. The last is brand new, coming out less than a month ago, Back to Blood.

The "blood" isn't about gore but ethnicity, specifically the ethnic divisions between Cubans, Whites, Blacks and others in today's Miami. But it's neither the plot nor the characters that we're focusing on here, but Wolfe's tale of The Micturating Monkey - for it is of enormous relevance to conservatives. It reveals the strategy by which the Left can be defeated.

MOQTADA AL-WAXMAN VS. THE HOLLYWOOD HEARTTHROB

Dr. Jack Wheeler October 3, 2007

If the folks in Hollywood didn't allow their rabid hate-America passions to overcome the functioning of their business brains when they watched the Blackwater hearings in Congress yesterday (10/02)*, they must have been transfixed by Blackwater CEO Erik Prince and seen nothing but dollar signs.

It was a scene straight out of a movie. The witness was straight out of central casting - Hollywood handsome, all-American clean-cut wholesome, a rawhide-tough former Navy SEAL who can easily think faster and smarter than anyone in the room.

Up against him was a collection of Democrat contributors to Congress' record low 11% approval rating, determined to demonstrate how they earned such public disgust, and led by that quintessence of corruption, Henry Waxman (D-CA), whose eyes bulging out of his sockets and huge buck teeth bulging out of his mouth below his hairy lips make him look like a creepy rat.

Hollywood casting again.

If you watch Erik's face closely (the hearing was broadcast on C-SPAN3*), you can see how hard he is trying not to grimace in revulsion or laugh out loud at the charade. You just know what he really wanted to say:

"Congressman Waxman, I would like to ask you a question: Why are you in league with the chief Shiite terrorist in Iraq, Moqtada al-Sadr? He controls the Ministry of the Interior (MOI), and it was MOI police who attacked us on September 16. All of the "witnesses" claiming we opened fire and killed 11 Iraqi civilians are Iraqi police with the MOI. Are you just using their lies to smear us or are you in active cooperation with al-Sadr to hurt the war effort in Iraq? If so, perhaps you would be more appropriately addressed as Congressman Moqtada al-Waxman."

A RATIONAL FRENCHMAN LOOKS AT THE WORLD

Dr. Jack Wheeler May 24, 2006

No snide comments how "rational Frenchman" is an oxymoron. There are plenty of them, albeit not enough. I had lunch with one of them here in DC yesterday. He's Pierre Lellouche, who represents Paris (4^th district) in the National Assembly (France's Parliament) and is President of the NATO Parliamentary Assembly.

If you had been there with me, you'd have come away wishing he were Bush's National Security Advisor for Europe. Even better, though, is that after Nicolas Sarkozy is elected President of France next April (see Sarko vs. Eurabia, January 2005), M. Lellouche may be France's Defense Minister.

So if you had joined me for lunch, here's how you would have heard him describe France and the world.

THE END OF THE LEFT’S HISTORY

Michael Ledeen December 2, 2004

The hysterical reaction of the Western Left to the reelection of President George W. Bush is not just a primal scream from politicians and intellectuals deprived of political power. The violent language, numerous acts of violence, and demonization of Bush and his electorate — the same as that directed against Tony Blair in Britain, Jose Maria Aznar in Spain, and Silvio Berlusconi in Italy — portend a more fundamental event: the death rattle of the traditional Left, both as a dominant political force and as an intellectual vision.

BLUETOOTH — PART ONE

ttpn August 18, 2004

Almost all of you have heard of Bluetooth. It refers to devices that are either attached to or built into a computer, cell phone, PDA, and a slew of other devices that allow them to communicate with each other.

Let’s look at Bluetooth step by step.

CONFESSIONS OF A PUBLIC DEFENDER

Michael Smith June 11, 2014

For many years now, I have been a public defender in a large southern metropolitan area. Fewer than ten percent of the people in the area I serve are black but over 90 per cent of my clients are black. The remaining ten percent of my clients are mainly Hispanics but there are a few whites.

I have no explanation for why this is, but crime has racial patterns. Hispanics usually commit two kinds of crime: sexual assault on children and driving under the influence. Blacks commit many violent crimes but very few sex crimes. The handful of whites I see commit all kinds of crimes. In all my years as a public defender I have represented only three Asians, and one was half black.

As a young lawyer, I believed the official story that blacks are law abiding, intelligent, family-oriented people, but are so poor they must turn to crime to survive. Actual black behavior was a shock to me.

The media invariably sugarcoat black behavior. Even the news reports of the very crimes I dealt with in court were slanted. Television news intentionally leaves out unflattering facts about the accused, and sometimes omits names that are obviously black.

All this rocked my liberal, tolerant beliefs, but it took me years to set aside my illusions and accept the reality of what I see every day. I have now served thousands of blacks and their families, protecting their rights and defending them in court. What follow are my observations.

To be clear, my observations are of defendants in court and their families. They do not apply to those many blacks leading law-abiding lives.

HALF-FULL REPORT 12/20/13

Dr. Jack Wheeler December 20, 2013

Jack Kelly sure is right - Christmas has indeed come one week early. Not only has there been the series of judicial decisions he itemizes - but day before yesterday, the clueless losers trying to con twenty-somethings into buying Zerocare completely and totally jumped the shark.

Just in case you got lost in the Asteroid Belt and didn't see it, Zero's two-digit IQ lobbyists of OFA (Organizing for America) actually tweeted this pitch:

The nerdy metrosexual twit in his onesies is an OFA employee named Ethan Krupp. Dubbed "Pajama Boy," the tweet has gone instantly mega-viral with a tsunami of ridicule and mockery flooding the internet. Two samples plucked from the flood:

CONGRESS MUST NOT BE AS NAÃVE AND UNWISE AS THE PRESIDENT

Richard Rahn September 11, 2013

Leaders who cannot see beyond Stage One often cause great harm.

Unfortunately for the United States and the world, President Obama continues to exhibit a strange naïveté and a lack of wisdom about domestic and foreign problems -- Syria just being the latest example. The famous Russian "reset" was one of the first policies that later turned into an embarrassment.

The president shows compassion when he talks about those who were gassed in Syria, and he shows compassion when he speaks about minorities, the young and those who have the fewest opportunities. Yet by placing additional burdens on job creation, many of his tax and regulatory policies have led to the biggest increases in unemployment among those he says he cares most about.

A compassionate speech is no substitute for sound action. A wiser president would realize his policies are not working and reverse course. Wise people learn from their mistakes, while the unwise double down.

I DISSENT

Antonin Scalia June 27, 2013

[Note: Yesterday, June 26, the Supreme Court issued its decision in United States v. Windsor, ruling 5-4 that DOMA, The Defense of Marriage Act, is unconstitutional. Justice Kennedy provided the decisive vote, siding with the Court's four dependably liberal justices, Ginsberg, Breyer, Sotomayor, and Kagan.

Justices Roberts, Alito, Thomas, and Scalia dissented. The link above is to the Pdf file of the entire decision, which is where the Scalia dissent is to be found. TTP here presents, as a public service, the extraordinary dissent of Justice Scalia in its entirety, of over 8,000 words, in easily readable form. It is quite possibly the most blistering, scathing moral denunciation of a majority opinion by a dissenting justice in Supreme Court history.

He condemns the Court majority for "formally declaring anyone opposed to same-sex marriage an enemy of human decency," for accusing "the Congress that enacted this (Defense of Marriage) law and the President who signed it of... act(ing) with malice - with the ‘purpose to disparage and injure' same-sex couples."

Scalia is stunned by the majority's vitriol at "simply for supporting an Act that did no more than codify an aspect of marriage that had been unquestioned in our society for most of its existence-indeed, had been unquestioned in virtually all societies for virtually all of human history. It is one thing for a society to elect change; it is another for a court of law to impose change by adjudging those who oppose it hostes humani generis, enemies of the human race."

This is a brilliant exercise in judicial, constitutional, and moral reasoning. It is worth reading entire. -JW]

This case is about power in several respects. It is about the power of our people to govern themselves, and the power of this Court to pronounce the law. Today's opinion aggrandizes the latter, with the predictable consequence of diminishing the former. We have no power to decide this case. And even if we did, we have no power under the Constitution to invalidate this democratically adopted legislation. The Court's errors on both points spring forth from the same diseased root: an exalted conception of the role of this institution in America.

REMEMBERING FREEDOM

Dr. Jack Wheeler November 22, 2012

I might as well confess this right at the start: this is the saddest Thanksgiving of my life. I am still having a very difficult time coping with Nov. 6.

Yes, the number of Moron Uneducated Mooching Taxtaking Americans has increased under Zero enough to get close enough to the margin of fraud, enabling the Dems to steal it via voter suppression and theft. But what really made it within the margin of fraud is what hurts the most:

That millions of non-Democrats - Republicans, Conservatives, Libertarians - chose to not vote for Romney, thus choosing of their own free will to destroy their country in an act of malicious sado-masochism.

My term for them is Platonic Conservatives, Platonic Libertarians. The basic philosophical battle of Western Civilization has for 23 centuries been between Plato and Aristotle - between Platonists who believe the perfect must be the enemy of the good, and Aristotelians who believe it must not.

Romney is a good man, an infinitely better man than Zero - yet the Platonists demanded perfection. The difference between a Romney Presidency and that of Zero's is not between Heaven and Hell, for neither of them exist here on earth, any more than does Plato's World of Forms.

The difference is an America that would have started digging itself out of a fascist pit, and one that will now dig itself ever more deeply into it. On Nov. 6, the Platonists chose the latter.

Freedom is fragile. Once freedom is gone -- especially if it is thrown away not taken away -- it is very difficult to get it back. As the great polymath Jacob Bronowski observes in his masterpiece, The Ascent of Man:

"We are being weighed in the balance at this moment. If we give up, the next step will be taken, but not by us. We have not been given any guarantee that Assyria and Egypt and Rome were not given. The ascent of man will go on, but don't assume that it will go on carried by Western civilization as we know it."

GEORGE BUSH AND MY FRIEND’S WIFE

Dr. Jack Wheeler September 25, 2007

How's that for salacious titillation? Do I have your attention now? Yes, this really is about President George W. Bush and the wife of a friend of mine. Let me tell you about her.

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