The American media knows where to find its friends

Barbara Walters, the grande dame of American television news, was forced to apologise on Tuesday night after it emerged that she had tried to use her influence to further the career of a former leading aide of Syrian President Bashar al-Assad.

Emails seen by London's The Daily Telegraph show that Walters tried to help Sheherazad Jaafari, the daughter of Syria's UN ambassador, secure a place at an Ivy League university and an internship with Piers Morgan's CNN programme.

When confronted with the emails, which were obtained by a Syrian opposition group, the 82-year-old ABC broadcaster admitted a conflict of interest and expressed "regret" for her actions.

Miss Jaafari, 22, who in some reports has been dubbed "Serious Kim Kardashian", was a close adviser to Mr Assad and was at his side as Syrian troops dramatically stepped up their campaign of killing and repression.

She would speak to the president several times a day, sometimes calling him "the Dude" in her adopted American accent, and was sometimes the only official in the room when he did interviews with Western journalists.

Miss Jaafari, whose father Bashar Jaafari has known Walters for around seven years, began dealing with the broadcaster late last year as ABC News lobbied for an interview with Mr Assad.

Walters's interview in December - the first with an American television network - made headlines around the world as Mr Assad denied he was responsible for the crackdown which had already resulted in thousands of deaths across Syria. The emails show that after the interview Miss Jaafari and Ms Walters stayed in close contact.

Miss Jaafari did not ultimately get the internship nor the university place.

Miss Jaafari was part of a young circle of aides who advised Mr Assad to speak to the Western media as evidence of atrocities mounted. When he agreed to the interview with Walters in December, Miss Jaafari wrote a list of talking points advising that the "American psyche can be easily manipulated" if he were to make a limited expression of regret.

SOURCE

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Iceland

For a while, the country had the Midas touch. During 2003-07 the Icelandic stock market grew ninefold, while real estate prices tripled. But the newfound riches proved fool’s gold. The three largest banks, whose assets at their peak were nearly 10 times the national GDP, collapsed in the fall of 2008. The Icelandic currency, the krona, lost more than half its value against the euro and became all but worthless outside the country. Employers shed jobs and inflation reached 20 percent. The stock market took an 85 percent dive. And Icelanders were now on the hook for an estimated $85 billion to $100 billion in bank losses, or roughly $300,000 for every man, woman and child. And you thought we had it bad.

Yet here it is, 2012, and Iceland appears to have recovered from this debacle rather nicely – and without a bailout from the IMF. Put simply, the government allowed major banks to fail and told foreign creditors to bite the bullet. It dismantled the failed banks, paid off creditors from the proceeds of asset sales, and tightened bank capitalization requirements. The country still faces major problems. Household and business debt remains high. And some Icelanders are migrating to Norway and elsewhere in search of a job. Yet on balance, the country is far better off than could have been predicted three years ago.

Here’s how the Washington Post’s Brady Dennis this January described the scene in the principal city of Reykjavik:

On the snowy streets of this capital city, the economic panic of 2008 has mostly faded. The trendy cafes along Laugavegur brim with customers. Restaurant menus feature $40 grilled minke whale and $60 racks of lamb, and hardly a table goes empty. Boozy youths line up to pack nightclubs that thump all night. It’s even okay now to joke about the crash, or kreppa, as it’s known: “We may not have cash, but we have ash!” reads one T-shirt with a picture of the Eyjafjallajokull volcano that erupted in 2010.

“Three years later,” the author writes, “the unemployment rate has fallen. Tourism has increased. The economy is growing. The government successfully raised money from investors in the summer for the first time since its crisis.”

In many ways, Iceland is an easy country to like. The 40,000-square-mile North Atlantic republic, located just south of the Arctic Circle some 500 miles from its nearest European neighbor Scotland, is a hybrid of Old Norse and modern culture. Average life expectancy at birth is now 81. Median income (2011) is around $38,000. The nonprofit watchdog group Transparency International continues to rate Iceland as one of the least corrupt countries in the world, even after the banking collapse. The country has spectacular natural scenery, including more than 100 volcanoes. One of its filmmakers, Baltasar Kormakur, directed a hit Hollywood movie this winter, “Contraband,” starring Mark Wahlberg; Kormakur, in fact, had starred in the 2008 film on which it was based, “Reykjavik-Rotterdam,” directed by another Icelander, Oskar Jonasson. And, of course, there is the instantly recognizable female singer-songwriter, Bjork, whose mix of folk-rock, post-punk and electronica has won tens of millions of fans the world over.

But the main reason to like Iceland may be its reluctance, at least when it counted, to transfer part of its sovereignty to the European Union. Iceland, despite its short-sighted bank deregulation of a decade ago, had a 7 percent unemployment rate in 2011, to be sure, way above the 1 percent preceding the collapse and yet slightly lower than the average of the immediate post-crash years – no mean feat. Annual GDP has been growing at 3 to 4 percent since 2009. “For a country whose entire financial system collapsed, Iceland is doing remarkably well,” admits Julie Kozack, IMF mission chief for Iceland.

This raises the question: Why? How could a nation witness the evaporation of its financial assets and yet stabilize the situation within a relatively short time, while much of the rest of Europe approaches the abyss? Certainly, Iceland is in far better shape without international aid than is subsidized Greece. So given all that it did wrong, Iceland must have done a few things right since.

Without discounting the importance of cultural explanations, arguably the main reason for Iceland’s resurgence is related to the economics concept of moral hazard. In essence, moral hazard refers to the additional risks that a particular party – be it a person, a corporation or a nation – takes on when it does not have to bear the costs of its mistakes. People by nature are less cautious when they know in advance that an outside party will cover them. As a corollary, the outside party, typically armed with better information about motive and action, is more likely than otherwise the case to behave irresponsibly, believing he won’t get caught or otherwise bear the cost. Think of Michael Douglas’ character, Gordon Gekko, in the two “Wall Street” movies.

The flip side of moral hazard is aversion to it. That is, in assessing a possible transaction or long-term agreement, a principal party may decide that the risk of an agent mishandling his money isn’t worth the gain in expertise. Equally to the point, he may sense that taking responsibility for the consequences of his own mistakes will reduce the likelihood of making them in the first place.

Iceland is an example of the second scenario. Its government during those dark months of late 2008 and early 2009 wisely eschewed a “too big to fail” policy in dealing with the nation’s financial institutions, recognizing, if out of necessity, that it can’t compensate reckless banking decisions. “No responsible government takes risks with the future of its people, even when the banking system itself is at stake,” said then-Prime Minister Geir Haarde in an emergency address to the nation in October 2008. He would resign on February 1, 2009. Johanna Sigurdardottir, a Social Democrat, would take over.

But why did the recklessness occur in the first place? It happened in large measure because country’s bankers thought Iceland was ready for the big time. The global economy, especially the demand for homeownership, was expanding. The bankers believed they could grow rich by radically ramping up mortgage lending and then packaging the loans as marketable securities to investors on Wall Street and elsewhere – sound familiar? Escalation in house prices presumably could cover any shortfalls, and the Icelandic government or the IMF could rescue them if prices didn’t keep rising. Who wanted to be a fisherman when the world was your oyster anyway?

“You had to be crazy not to want to become a banker,” says University of Iceland student Heimir Hannesson, looking back at those years. “You went to college, studied business. You became a millionaire overnight. That was the dream. And for a few years, it was the reality.”

Unfortunately, the reality of Geir Haarde, who served as prime minister for less than three years, is that he’s out of a job and likely headed for prison. The Sigurdardottir administration is bent on meting out justice to those whom it sees as responsible for the financial collapse. Her predecessor makes for a good trophy. This March, former Prime Minister Haarde, facing four separate criminal negligence charges, took the witness stand in his defense, arguing that no government could have prevented Iceland’s crash since nobody outside the banks was aware of how much debt they were carrying. He would be found guilty anyway in April on one of the charges.

Under its new leadership, Iceland may go the way of European integration. Finance Minister Oddny Hardardottir affirmed her commitment to adoption of the euro. The country applied for membership in the European Union in July 2009 and opened talks in 2010, despite widespread domestic opposition. Hardardottir believes that using the euro isn’t in conflict with becoming more solvent, and that the euro is a superior alternative to the highly fluctuating krona. “I’m not concerned about the future of the euro,” she remarked early this year. “The demand is that countries become more disciplined in their economic management. That’s something that we should also take to heart, although we’ve shown great effort and performance in that regard following the economic collapse.”

One only can hope. But in the meantime there are a couple reasons why Americans should pay close attention to the situation in Iceland.

First, like it or not, from the beginning of the EU, we have been committed to its solvency via the International Monetary Fund. And lately we’ve become more committed than ever. This spring, IMF officials cobbled together an additional $430 billion in pledges on top of the $380 billion in existing IMF lending capacity and the aforementioned 750 billion euro (US$950 billion) EU-IMF crisis package. Our total IMF liability now stands at $172 billion, second only to the $186 billion of Japan. (It could have been higher, actually, had the Obama administration pushed Congress on the issue.) The U.S. helped pay for the Irish and Portuguese bailouts this way. Now we’re covering the Greeks.

Second, having instituted our own bailouts over the last four years, we should be experts by now on the risks of growing an economy based on moral hazard. The Bush and Obama administrations, each aided by Congress, have created large-scale emergency conduits to support the automobile and financial services industries. In the short term, we mitigated a highly painful collapse. But in the long term, we are laying the groundwork for a potentially far deeper and intractable collapse. By signaling to “too big to fail” enterprises that they need not fear going extinct, we are enabling them to make bad decisions at taxpayers’ expense. The ever-expanding federal deficit is in some measure a consequence of this. Take heart, at least, that we’re not the lead player in some North American Union; one only can imagine the ultimate cost of bailing out Mexico.

One wishes Iceland well in its ongoing recovery. It may have only roughly one-hundredth of our land area and one-thousandth of our population, but its aversion to joining the EU during the Haarde years likely has benefited other nations, ours included. “I don’t want the euro, hell no,” remarked a female food truck operator in Reykjavik several months ago. “The countries that have the euro, it’s going pretty badly.” Iceland may well get the euro anyway. If that happens, it’s conceivable the U.S., if indirectly, will be responsible for some of its bills.

SOURCE

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ELSEWHERE

WI: Walker survives recall vote: "Gov. Scott Walker, whose decision to cut collective bargaining rights for most public workers set off a firestorm in a state usually known for its political civility, held on to his job on Tuesday, becoming the first governor in the country to survive a recall election and dealing a painful blow to Democrats and labor unions."

CA: Appeals court won’t touch pro-family ruling, SCOTUS likely next: "An escalating showdown over gay rights in America appears to be heading inevitably to the US Supreme Court. Two major appeals court cases dealing with same-sex marriage are poised for possible review at the nation’s highest court -- perhaps with decisions as early as next year. A federal appeals court in San Francisco announced on Tuesday that it would not examine a February decision striking down as unconstitutional California’s Proposition 8 ballot initiative, which effectively banned same-sex marriages in the state."

A liberal war on women: "The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act), a law passed by a liberal Congress in 2009 and signed by President Obama, 'keeps many homemakers from qualifying for credit cards,' notes the world’s oldest law blog, Overlawyered."

The Bernanke bust: "To Austrians, all economic 'booms' founded on monetary largesse always end in economic busts, roughly equal in size and intensity to the preceding booms. By distorting interest-rate and price signals and, as a consequence, creating malinvestments that must eventually be liquidated, monetary booms necessitate economic busts. This is true regardless of whatever short-term benefits the economy or financial markets appear to enjoy from this largesse.

Lese majesty: "A farmer decides, in the wake of the Mad Cow outbreak to conduct tests above and beyond those required by the government in order to advertise that his beef is safer than the national standard. The USDA doesn’t allow him to do so, he cannot conduct his own tests with his own money."

Universal health care does not mean government health care: "Maybe social means are inadequate; or maybe there is some reason, which has yet to be mentioned, why governmental control is preferable, as a means for getting it, to voluntary associations for mutual aid. But whether the position is right or wrong, it’s certainly not one that can be answered simply by defining it out of existence, as you do when you pretend that the only alternatives available are (1) corporate coverage of only those who can afford it; or else (2) universal coverage by means of government mandates; as if there were no (3) universal coverage by non-governmental means."

The power of market-driven diversity: "The story of Chicago-based Supreme Life Insurance Company of America, one of the most venerable black-owned businesses in American history, challenges the prevailing fiction that minority customers need the government to guarantee services for them and is a dynamic reminder of the power of markets as a basis for economic freedom."

Wealth creation is not the enemy: "President Obama accuses Mitt Romney of putting profits above people by striving to create wealth rather than jobs during his 15 years at Bain Capital. This critique of Romney's work at the private equity firm, which Obama says will be central to his re-election campaign, betrays a fundamental misunderstanding of capitalism"

The case for single-issue activism: "The only period, as I see it, when the supporters of freedom have made really sizeable inroads against the state was in the early nineteenth century where single-issue campaigns against the Corn Laws, slavery, emancipation of Catholics and so on brought substantive achievements. Many of those involved were, as Lord Acton observed, not true supporters of freedom. Similarly, amongst Thatcherism’s greatest achievements must surely be the great utility privatisations or curbing of excessive union powers even though many Thatcherites were hardly typical supporters of Liberal freedoms. It is this limited, achievable and comprehensible type of reform we first need to find and then unite behind."

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My Twitter.com identity: jonjayray. I have deleted my Facebook page as I rarely access it. For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

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More on how a criminal Leftist got a law-abiding conservative arrested

With the help of many misrepresentations and an aged scofflaw judge

David Hogberg

As reported last week on Capital Hill, the judge in the Brett Kimberlin-Aaron Walker peace order hearing granted Kimberlin’s peace order. At the end of the hearing, Walker was led away in handcuffs.

I went back to the District Court of Maryland for Montgomery County on Friday to get a copy of the warrant for Walker. I have uploaded it here (addresses and phone numbers are redacted).

The warrant was filed by Kimberlin on Sunday, and from it a few things are now clear that I got wrong in the post from last week. First, Kimberlin claims that Walker violated the second peace order Kimberlin filed against Walker, not the first. Kimberlin filed the second peace order on May 22, and it is “temporarily” in effect until the hearing on May 29th.

In it, Kimberlin basically claims that the blog posts Walker wrote between May 22 and May 27 constitute a violation of the peace order (more on that in a bit).

Also, in the blog I wrote that the “court apparently agreed (that Walker had violated the peace order) and Walker was arrested.”

That leaves the impression that the judge had Walker arrested. He did not. Rather, the warrant was carried out by a Montgomery County Sheriff, as is clear from the first page of the warrant. The easiest way for a sheriff to arrest someone is to know exactly where he is, and the sheriff obviously knew Walker would be in court that day.

In the warrant, Kimberlin claimed: "Mr. Walker has tweeted on Twitter about me in alarming and annoying ways over hundreds of times in the past week and urged others to attack me. He has generated hundreds of blog posts directly and indirectly based on false allegations that I framed him for an assault.

Mr. Walker has had many people threaten me directly with death, and told me to stop talking to the police, and not show up in court or I would die."

Notice that Kimberlin doesn’t explicitly say how Walker had people threaten him. Nowhere on his blog or Twitter feed does Walker tell anyone to threaten Kimberlin. What proof does Kimberlin then have that Walker had people threaten him? If the Tuesday hearing was any indication, he has none. Kimberlin then gets very slippery in this part:

The peace order prohibits as special condition “threats” and “no electronic contact.” I have received many threats by Electronic contact on behalf of Mr. Walker. On Saturday, May 26, 2012, at 7:57 pm, “A message from Aaron — Don’t show up in court Tuesday or you are dead. This is your only warning.” On Sunday, May 27, 1:24 pm, “If Brett does not start acting like a grown up and quit calling the police on people like a little punk, there will be hell to pay.”

Note that Kimberlin claims he has received these “on behalf of” Walker. Thus, we can safely assume that the first message is not actually from Aaron Walker. (Having spoken to Mr. Walker, I can say that it seems highly unlikely he would be that stupid.)

But the broader point here is that Kimberlin apparently believes that if Walker writes a blog post or tweets about him, and then third parties send him threatening emails, it constitutes harassment on the part of Walker. Then there is this laugher:

"Mr. Walker has urged people to intimidate me if I come to court on Tuesday by tweeting for a mob of people to show up."

While there are some tweets in Walker’s Twitter feed encouraging people to show up (see here and here), I can’t seem to find the ones where he says he wants a “mob” to “intimidate” Kimberlin.

Yet Kimberlin seems to believe that a blogger who writes about him is responsible for death threats from third parties. So maybe he also believes that asking people to show up to court is the equivalent of egging on a mob. None of this would even pass the laugh test, let alone the principles set forth in the Supreme Court case Brandenburg vs. Ohio.

But, apparently, it might pass the Vaughey test. That would be the test named after C.J. Vaughey, the judge in the Kimberlin-Walker peace order hearing who found in favor of Kimberlin last Tuesday.

Someone has posted the full audio of the hearing here, and blogger Patterico has done an excellent job posting text of some of the more outrageous moments. Here is the part where the judge invoked the Vaughey standard:

"WALKER: But, your honor, I did not incite him within the Brandenburg standard though.

VAUGHEY: Forget Bradenburg (sic). Let’s go by Vaughey right now, and common sense out in the world. But you know, where I grew up in Brooklyn, when that stuff was pulled, it was settled real quickly."

Not much to say here except that the rot that is judicial activism has obviously spread far and wide in our court system.

There was one part that was not included in Patterico’s post that is worth examining since it may shed some light on Vaughey’s biases. At one point in the hearing the judge asks Walker what if a “freak somewhere up in Oklahoma” does nasty things to Kimberlin. A little later he says, “You don’t get all these people from Oklahoma, Indiana, Wyoming, wherever the heck it is, and all of these past things.”

Looks like Vaughey forgot to mention Montana and Texas. Seriously, does Judge Vaughey think that “freaks” come from primarily red states? If so, it says a lot about his mindset. On the other hand, that may be reading too much into it. Maybe he was just listing states off the top of his head. But then, why not use the term “freak” without associating it with any states?

Vaughey is technically a “retired” judge. Perhaps he should enjoy retirement in the more traditional fashion of not going back to one’s old job.

WARNING: If you are going to post comments on this, keep it civil. In other words, NO threats of violence. Any such comments will be removed.

SOURCE (See the original for links)

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Florida to Continue Voter Purge in Defiance of DOJ

Florida, a key U.S. electoral battleground where the 2000 presidential election was decided by a few hundred ballots, will defy the U.S. Justice Department's warning to stop its effort to purge ineligible voters, a state spokesman said on Saturday.

The warning issued this week by the head of the Justice Department's voting section said the move to purge voters appeared to violate the 1965 Voting Rights Act, which protects minorities. It demanded a response by Wednesday.

But a spokesman for Florida Secretary of State Ken Detzner said the state must ensure only eligible voters cast ballots, and intends to go forward with the campaign.

"We have a year-round obligation to ensure the integrity of Florida's elections. We will be responding to (the Justice Department's) concerns next week," Chris Cate said in an email message.

Polls show Florida will be closely contested between Democratic President Barack Obama and Republican presidential candidate Mitt Romney and the outcome could swing the Nov. 6 election.

A mere 537 Florida votes decided the 2000 election in favor of Republican George W. Bush over Democrat Al Gore, amid charges from both sides that some people were unable to vote, some votes were uncounted, or were counted incorrectly.

The U.S. Supreme Court ultimately decided the contest in a ruling that halted the recount process.

Supporters of Florida's voter scrub, conducted by the administration of Republican Governor Rick Scott, say it is aimed at clearing voter registration rolls of non-citizens. But critics call it part of longstanding Republican efforts to deter minorities and the poor, who tend to vote Democratic, from casting ballots.

In its letter to Detzner on Thursday, the Justice Department also said the effort seemed to violate the 1993 National Voter Registration Act and its rules for maintaining "accurate and current" voter registration lists "in a uniform and non-discriminatory manner."

The purge effort, begun in April, compares lists of registered voters with driver's license records that contain information on citizenship. Critics contend the information can be out of date as many people become citizens after they get their driver's licenses or state IDs.

So far the state has identified about 2,700 voters as suspicious and sent them letters demanding they produce proof of citizenship to avoid being stricken from the voter rolls.

SOURCE

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Only Getting Worse

by GADI ADELMAN (Gadi Adelman grew up in Israel, studying terrorism and Islam for 35 years after surviving a terrorist bomb in Jerusalem in which 7 children were killed)

Since returning to the United States in 1981 I've been attempting to educate people on the truth of Islam. Over the years I have seen dozens of new people emerge writing about the same thing, and it is obviously helping. There is no doubt that we are making headway and more people are aware of the threat of Islam.

It would seem to me that if more people have become educated and are aware of the situation things should be getting better rather than worse but sadly, that's not the case. Day in and day out, if you read publications other than the mainstream media, it's the same headlines, stories and news reports from all over the world. Islamic terrorism, honor killings, child brides, female genital mutilation and innocent people being murdered for no other reason than not being Islamic.

The so called "Arab Spring" has certainly made matters worse with the birth of new Islamic Republics that are demanding Sharia governments and laws.

Since 9/11 there has been 18,985 deadly attacks all carried out in the name of Islam and explicitly for Allah.

Just yesterday 15 people were killed and 38 wounded in two separate church bombings in Nigeria. Without a doubt this was the work of ‘Boko Haram', the Al Qaeda linked group who refer to themselves as the "Nigerian Taliban". The name ‘Boko Haram' actually translates to "Western education is forbidden".

Over 2 years ago, in April 2010 I wrote an article "No Big Deal, Just Some People In Africa, Right?", in which I explained that Christians were being killed by the hundreds for no reason other than because they were Christian, and yes, this was happening all in the name of Islam. Well this year alone there have been over 530 people, including women and children who have unfortunately become more of that statistic.

This week, like all others, we just see more of the same. Another Israeli soldier was killed Friday morning when a terrorist from Gaza crossed the border in to Israel and opened fire on a group of soldiers. Staff-Sergeant Netanel Moshiashvili, a medic, was mortally wounded.

Eleven Lebanese girls, between six and eight years old, were all victimized by their 22 year old teacher. The sexual assault occurred at a school in Mount Lebanon.

The teacher is said to have harassed the girls, forcing them to undergo nude photo sessions. According to the Lebanese website Naharnet:

One six-year-old told her father that the teacher had instructed her "to lift her skirt before pressing himself up against her."

A young mother was found guilty of adultery in Sudan and has been sentenced to death by stoning according to a report in the Guardian.

Intisar Sharif Abdallah was tried without access to a lawyer and is being detained with her four-month-old baby, according to Amnesty International.

Amnesty puts Abdallah's age at 20; Human Rights Watch says she may be under 18.

Abdallah admitted to the charges only after her brother reportedly beat her. The conviction was based solely rests on this testimony. The man held with her reportedly denied the charges and was released.

What a shocker, she had no right to an attorney, they beat a confession out of her, and the man who denied any wrong doing was released. Sharia and women's rights hard at work once again.

Reuters reported that Brussels Police were attacked Thursday night after they arrested a Muslim woman for refusing to remove her face veil:

the woman had scuffled with officersed and she was taken to hospital with mild concussion," the police spokesman told Le Soir newspaper.

The woman's husband went to the police station later that day to complain, accompanied by about 20 others.

Protesters hurled bins and metal barriers at a Brussels police station, a spokesman for Brussels police stated "They tried to enter by force, but they were not able to, so instead they threw metal barriers and bins."

For those that don't recall, "Belgium and France both banned people from wearing full face veils in public last year."

Iran is only upping its game of words now warning the United States not to resort to military action against it, saying on Saturday that US bases in the region were vulnerable to the Islamic Republic's missiles. The Jerusalem Post article explains,

"The politicians and the military men of the United States are well aware of the fact that all of their bases (in the region) are within the range of Iran's missiles and in any case are highly vulnerable," Press TV reported Brigadier-General Yahya Rahim Safavi as saying.

Safavi also warned that Iranian missiles could reach all parts of Israel.

Yes and they really are just using the nuclear power for "peaceful purposes", why on earth would anyone not believe that after they outright threaten the US and Israel.

This article wouldn't be complete without the story of the former associate professor at Sweden's medical institute. According to the UK Daily Mail:

A former associate professor at Sweden's prestigious Karolinska medical institute is being held in police custody for cutting off his wife's lips with a knife and then eating them in Stockholm.

Talk about "eating your words.: So what would make someone do this, yes, you guessed it, honor.

The man, who is 52, admitted to cutting off his wife's lips in a closed court hearing, the paper reported, saying it was retaliation.

"It was honour related. He doesn't seem to regret a thing. He believes she insulted him," a source with knowledge of the matter told the paper.

The man, who is from Iran, was doing post-Doctoral research at the institute in 2010.

So there is just very small sample of what goes on throughout the world week after week in the world of the "religion of peace."

Yes, more people are aware, but even less seem to care. All we can do is educate, it is up to you the reader to pass it on further. Remember, we can still speak out about these atrocities, as long as we have lips.

SOURCE

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My Twitter.com identity: jonjayray. I have deleted my Facebook page as I rarely access it. For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

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GOP Whistling Past the End of America

Ann Coulter

An election almost as important as the presidential election will be held next Tuesday, and conservatives aren't making a big deal of it, just as they didn't make a fuss over the 2008 Minnesota Senate election as Al Franken stole it from under their noses. (Gov. Tim Pawlenty: "Minnesota has a reputation for clean and fair and good elections. We've got 4,100 precincts run by volunteers. They do a good job, and we thank them.")

The public sector unions are trying to oust Wisconsin Gov. Scott Walker from office for impinging on their princely, taxpayer-supported lifestyles. If Walker goes down, no governor will ever again suggest that snowplow operators work when it snows. No governor will dare try to deprive public school teachers of their Viagra. Forget about ever firing self-paced, self-evaluated, unnecessary government employees.

Always leading the nation, California has already been bankrupted by the public sector unions. That's the country's future if Walker doesn't win, and it's not going to matter who's in the Oval Office.

Democrats know what's at stake. They're treating this election like the Normandy invasion. Meanwhile, Republicans are sitting back, complacently citing polls that show Walker with a slight lead.

Polls don't register passion. Public employee unions have vast organizing abilities, millions of dollars in union dues at their disposal, and millions of voters who are either union members themselves or relatives of union members. And it's their lifestyles being voted on.

The public sector unions will turn out 99.9 percent of their people. Even if they are only 15 percent of the electorate, that could be enough. Union members will have every distant relative, every neighbor, every person they can drag to the polls, voting to recall Walker next Tuesday.

Ordinary people answering polls may agree with Walker, but they'll have to decide: "Do I really want to get out of bed early and drive to the polls, just so they don't recall the governor?"

News reports blare with the information that the Walker campaign has spent more money than the opposition. This is absurd. Every union member in the country is working to defeat Walker.

Union political operatives aren't volunteers: They're getting salaries from the unions. But those expenditures don't get counted as money spent on a campaign -- a little detail of campaign finance laws Republicans have been screaming about for 20 years.

One measure of the unions' disproportionate passion is how difficult it is to obtain non-union information about the Wisconsin fight. Try running a few Google searches on Scott Walker and the public sector unions, and you'll get 20 pages of union propaganda under names such as "Common Dreams," "All Voices," "United Wisconsin," "Veterans News Now," "Struggles for Justice," "One Wisconsin Now," "Defending Wisconsin" and "Republic Report."

From the hysteria, you wouldn't know Walker's reforms have nothing to do with government employees' salaries. He eliminated collective bargaining only for all other aspects of government employees' contracts. OK, you can have two guys on a snowplow, but you can't have a snowplow watcher.

One of the most egregious union scams Walker dispensed with was the requirement -- won in collective bargaining -- that all school districts purchase health insurance from the same provider. The monopolist insurer was WEA Trust, which happens to be affiliated with the teachers union.

Simply by eliminating this union boondoggle, Walker has already saved individual school districts millions of dollars per year, which could easily rise to hundreds of millions of dollars. (Most districts still get their health insurance from WEA Trust, but the mere threat of competition forced it to lower its price.)

Amazingly, Walker actually had to eliminate "overtime" for snowplow operators who work outside of their 7 a.m.-3:30 p.m. shifts. Isn't the whole idea of snowplowers to have them work when it snows and not during specific, pre-set hours of the day?

The teachers unions wail, "It's all about the kids!" -- and then we find out the Milwaukee teachers union sued the school district because their health insurance didn't cover Viagra. Yes, it's all about the kids.

Fox News has barely mentioned this election, while on MSNBC they're doing non-stop campaigning on behalf of the unions. Apparently, James Madison will be rolling over in his grave if government unions aren't allowed to dictate how many employees are required to move a copy machine.

SOURCE

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Race Matters...To Racists

And Democrats have dishionest arguments galore to support their racial agenda

In February 2009, Attorney General Eric Holder said America is a “nation of cowards” on race because we don’t talk about. So let’s talk about it.

Progressives are up in arms over the prospect of voters being required to show something at the polls they must show regularly to function as a productive member of society – a photo ID. It’s because progressives, particularly progressive Democrats, have a vested interest in preventing as many people as possible, especially minorities, from becoming productive members of society.

Productive members of society – and those who aspire to be – don’t need or want government to do for them what they can do for themselves. The socialists, communists, fascists and anarchists – in other words, progressives – obviously don’t have the support to win elections. They must find many votes beyond their core supporters to survive. So they attempt to manipulate minorities.

They play the race card. They attempt to convince them Republicans, particularly conservatives, are racists.

Never mind only a few generations ago, it was Democrats who were lynching black people in the South, turning water cannons on them, toying with the idea of using eugenics to eliminate them and, always, trying to prevent them from voting. Since the party of slavery couldn’t own the bodies of black people anymore, it turned to trying to own their minds.

And votes. In the last 50 years, progressives have become quite interested in minority votes as the popularity of their message has waned. They pushed for a web of government dependence to entangle minorities – direct subsidies of just enough money to encourage complacency, public housing that serves as a staging ground for continuing criminal enterprises, an education system that coddles and babysits but does not, no matter how much money is sunk into it, educate, and, from their leaders, the soul-crushing rhetoric of victimhood and entitlement. Utopia is only an election cycle away – if we can get rid of those damn Republicans.

How else to explain how U.S. Rep. John Conyers, D-Mich., has been in office since 1965? It certainly isn’t because he has helped his district in Detroit. It looks like a nuclear bomb went off … twice. You can tell what it used to be when you drive through, and it’s sad. There is no one in that district not named Conyers whose life is better off since he assumed office, yet he’s re-elected by overwhelming margins every two years. Why?

They vote Democrat because they are told Republicans will only make things worse. Never told – or asked – is how things truly could be worse. But it’s folly to seek logic in irrational thought.

Which brings us back to voter ID laws. Holder told a group of black preachers this week the push in some states to require a government-issued ID to vote constituted an assault on minority voting rights. He seemed unconcerned about protecting the integrity of that right.

Holder claims requiring a photo ID to vote would disenfranchise minorities disproportionately…somehow. MSNBC harps on this point relentlessly, and progressives from Rev. Al Sharpton to U.S. Rep. John Lewis, D-Ga., equate voter ID laws with a return to Jim Crow. But why? Do these progressives fear their partners in democracy are too stupid to obtain a driver’s license or state-issued photo ID?

The sad part is the rhetoric surrounding this issue figures only to get worse. Get real, progressives. Almost everyone has a photo ID these days. You have to have one to deal with banks, stores, school registrars, property managers, traffic cops and with the HR people where you work. Progressives should be encouraging minorities to get IDs, not concocting excuses so they don’t have to. A few years ago, they demanded illegal aliens have access to drivers’ licenses. Was that Jim Crow? Only if you want to keep those people lashed to the ship of government dependency.

There’s no upward mobility in that plan. You can’t even move across the street. You’re just stuck where you are, where your parents were, where your children will be. But you’ll keep voting for Democrats because there will always be “leaders” who you view as having the job of helping you telling you the alternative is worse.

Democrats know upward mobility is not their friend. Even the prospect of it threatens their power structure. That’s why they don’t want you having a photo ID. It’s crucial to helping you improve your life on your own. And if you can improve your life on your own, you don’t need them or anything they’re selling.

If vote fraud is such an insignificant thing – as progressives falsely claim – then why not root it out completely? Because the party that always seems to ensure the polls in St. Louis stay open just long enough to get right amount of votes to pull out close elections at the 11th hour, or miraculously finds forgotten “lost” votes in car trunks or offices after the number needed to win is known has no interest ensure the integrity of our “sacred” right to vote. They need Mickey Mouse and the offensive line of the Dallas Cowboys on the rolls in every jurisdiction.

Because they want to win. And they’re willing to do anything to win. They will cheat the process they hold so dear. They will oppress the people they claim to champion. They will spend $10 trillion on the war on poverty and make not a dent in the poverty rate. Because it’s not the defeat of poverty they seek. It’s political power. Their ideas won’t win elections, so their bought votes must.

A progressive will look at someone, assess the amount of pigment in their skin and determine how that person should think and vote. Hell hath no fury like that of progressives when someone of color who dares stray from their pigmentally assigned expectations. Just ask Clarence Thomas.

That’s because what progressives want is power – government power, their power – and they have no problem using race baiting to steer votes their way.

Even if voter fraud were as rare as progressives claim, the real fraud is when they tell large chunks of the population their destiny is determined by their skin tone. A photo ID won’t set anyone free, but it is a passport to a society that values work, rewards diligence and offers an upward path. Progressives can’t have that because those who choose that path are significantly less likely to vote progressive.

SOURCE

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Obama and the TV Networks Ignore America's Number One Issue

The government says the economy is weakening yet again and unemployment claims are rising, but President Obama is going about business as usual.

The Labor Department reported Thursday that weekly applications for unemployment benefits jumped by 10,000 last week to nearly 400,000.

And the Commerce Department said the economy grew at a snail's pace 1.9 percent in the first three months of the year -- slower than the government's earlier estimate.

Despite all those glowing, exaggerated stories on the network nightly news shows that the Obama economy was taking off, Commerce officials discovered a grimmer and more negative reality in their latest numbers. Consumers were spending less than was once thought, the U.S. trade deficit shot up, and businesses aren't restocking as much because of unsold inventories.

With Election Day a little more than five months away, the Gallup Poll continues to find the weakening Obama economy and high unemployment levels remain far and away the overriding issue for most Americans. No other issue comes close.

The latest Washington Post-ABC News poll confirms that finding, with more than half of the voters calling the economy and jobs the "single most important issue" before the country.

But Obama continues to campaign merrily about the country as if this 800 pound gorilla of an issue didn't exist. He doesn't talk about it. He doesn't complain about it. He doesn't bemoan it. He isn't seen doing anything about it, except to blame the previous administration.

The Democratic leadership up on Capitol Hill, which controls the U.S. Senate, is similarly mute on the issue of jobs and the economy, praying things will get better on their own before November.

It is going to take more than prayer to get this economy up and running again, it's going to take aggressive, pro-job, pro-investment policies. But the so-called "party of the working class" hasn't a clue about what it takes to create economic growth and spur risk-taking private investment.

As for Obama, it isn't as if he's been busy doing more important work. There he was this week handing out gold medals to nearly a dozen of his biggest supporters, while insulting Poland with a stupid remark about "Polish death camps," when they were Nazi death camps.

On other days he is bashing Republican Mitt Romney for investing in companies to help get new businesses off the ground, despite Romney's high job creation success rate.

But even Obama, as much as he avoids the harsh daily truth of his feeble economy, can't escape the grim reality of the unemployment rates across the country -- from California (10.9 percent) to Rhode Island (11.2 percent).

The politically devastating evidence of millions of Americans who can't find full time work was on the front page of the Washington Post this week. He couldn't have missed the story.

Beneath a blunt headline that read, "Prime-age workers still lost in the recession's undertow," economics reporter Peter Whoriskey reports that the number of Americans "in their prime-working years" (between ages of 25 and 54) who have jobs was "smaller than it was at any time in the 23 years before the recession..."

The shrinking share of these workers now stands at 75.7 percent. Before the recession hit, it was at 80 percent.

This disturbing figure, more than any other, Whoriskey writes, "captures more of the ongoing turbulence in the job market. It reflects 'missing workers' who have stopped looking for work and aren't included in the unemployment rate."

When he talks about the unemployment rate coming down, Obama never talks about these long discouraged, jobless workers who are never added to the monthly unemployment rate. But Whoriskey says "huge numbers are on the sidelines."

"What it shows is that we are still near the bottom of a very big hole that opened in the recession," says Heidi Shierholz, an economist at the Economic Policy Institute, a far-left think tank. She estimates the number of missing workers at about 4 million.

The immensity of this economic issue is hard to hide, though the White House, the president, the Democrats in Congress are doing their best to distract voters with other issues that are of little if any concern to most Americans.

About 83 percent of the voters polled by the Post in mid-May said the Obama economy was "poor" or "not so good," reflecting higher negative ratings than in the entire decade preceding the recession.

But the Obama administration is getting a lot of help from the network news programs who have gone to great lengths to bury this story for as long as possible.

Meanwhile, Mitt Romney is intensifying his focus on the economy and jobs, knowing these are the issues that will decide this election.

Obama may not want to talk about his failed record on these two issues, but he's going to be held accountable for them at the ballot box in the end.

SOURCE

There is a new lot of postings by Chris Brand just up -- on his usual vastly "incorrect" themes of race, genes, IQ etc.

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My Twitter.com identity: jonjayray. I have deleted my Facebook page as I rarely access it. For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

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My Sabbath

In case anybody wonders how that turned out, there is a small update on my Personal blog. Wynnum is a seaside area of Brisbane.

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Legal Piranhas

In this corner, weighing 110 pounds and standing 5-feet 7-inches tall, 18-year-old pop star Justin Bieber. In the other corner, some guy who was aggressively taking his picture in a California shopping mall.

Los Angeles County police are investigating accusations that Justin struck a photographer, which, if true, would violate California Penal Code 242 even if the striking blow was, well, glancing. Detectives want you to call them if you saw the brawl or if Justin attacked you, as well.

So far Bieber is not talking.

Apparently, the photographer called the Malibu-Lost Hills Sheriff's department last Sunday afternoon. The victim says he was "battered" by the singer, who was accompanied by his girlfriend, Selena Gomez. The victim complained of "pain" and was transported to a local hospital where he was treated and released into the custody of a lawyer who immediately contacted the media.

Now, I am certain being attacked by Justin Bieber is no laughing matter. If the guy ever got a haircut and a neck tattoo, he could look menacing. Perhaps Justin knows kung fu.

But the odds are that this is yet another shakedown generated by a loser and his sleazy attorney who will game the system hoping Bieber will throw some money at them in order to make the annoyance go away.

There are now legions of lawyers who will file lawsuits against famous and rich people for just about anything. Lawsuits cost money to defend, and the media are overjoyed to publicize any and all alleged "transgressions." No evidence has to be provided to the press; a lurid accusation is enough. This is now an industry: Fleecing the Rich and Famous. In fact, it could be a reality show. Paging Robin Leach.

But if you really look at what's happening, it's despicable. Legalized extortion and blackmail are now epidemics in America. Famous people are routinely slandered, libeled, followed and menaced in public. And there's little they can do about it. If you are a public figure and/or have money, you are a huge target and will get little sympathy from the court or from the court of public opinion.

Recently, I took three young teenagers to see the play "Jesus Christ Superstar." Upon leaving the theater, a guy who identified himself as an "Occupy protester" was waiting for me with a camera and recorder. He began screaming nonsense. I told the guy to knock it off because he was scaring the kids. He actually yelled louder and even chased my car down the street. The girls were unnerved.

I truly wish Bieber had been with me that night so he could have smacked down that guy. I guess I could have done it, but the line of attorneys responding would have stretched from Broadway to Michigan.

We absolutely need tort reform in this country, and we need to adopt a brand-new slogan, as well: "Free Justin Bieber."

SOURCE

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The anti-job Obama

Now would be a really good time for Obama to re-think the Keystone Pipeline. And Dodd-Frank. And Obamacare. And ANYTHING the EPA rules against outside of its own cafeteria.

Maybe lobbying and regulating against measures that would create jobs isn’t the right message a presidential reelection aspirant wants to project to the American people.

It occurs to me that maybe- I’m reaching here- the American people value the… um… jobs that would come along with the pipeline.

About 200,000-300,000 jobs would be created by the $7 billion pipeline project according to various estimate, including the estimates from Trans Canada, the compny that wants for build the pipline. A few jobs in the energy field tend to produce lots of other jobs. See: Dakota, South.

Because on Friday any president looking to be reelected got the worst of possible news outside of the Eurozone
hr>

The Bureau of Labor Statistics just reported that the number of jobs that were created last month here in the USzone is roughly half of what economists expected, even in their worst case scenario, raising unemployment faster than people are leaving the job market.

That’s pretty darned fast.

Because up until now the only thing Obama’s done to help alleviate unemployment is to get people to stop looking for work. And as they stop, they help the “official” unemployment rate go down when people are subtracted out of the workforce.

It’s so bad that I half expect Obama and his own Mortimer Snerd, Jay Carney, to say that the real problem with unemployment is that “freakin’ people keep looking for jobs. If they’d just stop and claim to be disabled, unemployment would be solved. It can’t be constitutional for people to be looking for jobs this late in my reelection campaign.”

SOURCE

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A crook in charge of justice

Attorney General Eric Holder recently told a group of black clergymen that the right to vote was being threatened by people who are seeking to block access to the ballot box by blacks and other minorities.

This is truly world-class chutzpah, by an Attorney General who stopped attorneys in his own Department of Justice from completing the prosecution of black thugs who stationed themselves outside a Philadelphia voting site to harass and intimidate white voters.

This may have seemed like a small episode to some at the time, but it was only the proverbial tip of the iceberg. The U.S. Attorney who was prosecuting that case -- J. Christian Adams -- resigned from the Department of Justice in protest, and wrote a book about a whole array of similar race-based decisions on voting rights by Eric Holder and his subordinates at the Department of Justice.

The book is titled "Injustice: Exposing the Racial Agenda of the Obama Justice Department." It names names, dates and places around the country where the Department of Justice stopped its own attorneys from pursuing cases of voter fraud and intimidation, when it was blacks who were accused of these crimes.

If Mr. Adams is lying, he has taken a huge risk in citing individuals by name and quoting them directly. Yet, despite the fact that most of those he accuses are lawyers, apparently no one has sued him. Moreover, Adams has also testified under oath before the U.S. Commission on Civil Rights, on the racial double standard at the Department of Justice, when it comes to voting rights.

What Attorney General Holder has been complaining loudly about, and launching federal lawsuits about, are states that require photo identification to vote. Holder calls this blocking minority "access" to the voting booths.

Since millions of black Americans -- like millions of white Americans -- are confronted with demands for photo identification at airports, banks and innumerable other institutions, it is a little much to claim that requiring the same thing to vote is denying the right to vote. But Holder's chutzpah is up to the task.

Attorney General Holder claims that the states' requirement of photo identification for voting, in order to prevent voter fraud, is just a pretext for discriminating against blacks and other minorities. He apparently sees no voter fraud, hears no voter fraud and speaks no voter fraud.

Despite Holder's claim, a little experiment in his own home voting district showed how easy it is to commit voter fraud. An actor -- a white actor, at that -- went to a voting place where Eric Holder is registered to vote, and told them that he was Eric Holder.

The actor had no identification at all with him, either with or without a photo. He told the voting official that he had forgotten and left his identification in his car. Instead of telling him to go back to the car and get some identification, the official said that that was all right, and offered him the ballot.

The actor had the good sense not to actually take the ballot, which would have made him guilty of voter fraud -- and, being white, he would undoubtedly have been prosecuted by Eric Holder's Department of Justice.

But the actor had made his point. When a white man with no identification can go to a voting site, impersonate a black man who lives in that district, and get his ballot offered to him, then it is far too easy to commit voter fraud.

Does not Attorney General Eric Holder understand that? Of course he understands it! The man is not stupid, despite his other failings.

Holder's pooh-poohing of voter fraud dangers, and hyping the "threat" of denying minorities "access" to the voting booth, are completely consistent with his drive to (1) maximize the number of votes by black Democrats and (2) spread as much fear as possible among minorities that they are under siege, and that the Democrats are their only protection and salvation.

It is a political protection racket, with payoffs in votes.

Nor can Holder's boss, Barack Obama, be unaware of voter fraud. After all, he comes from Chicago, where voting officials refuse to discriminate against dead people.

SOURCE

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Reprehensible international bureaucracies

I’m not a big fan of international bureaucracies, mostly because they always seem to promote bad policy such as higher tax rates.

* The International Monetary Fund is urging higher tax rates and pushing for nations to replace flat tax systems with so-called progressive taxation.

* The Organization for Economic Cooperation and Development has embraced Obama’s class-warfare agenda and is pushing for higher tax rates in America.

* The United Nations is working with statists such as George Soros and urging global taxes.

* Even the World Health Organization has adopted some of this activist left-wing mentality, and is pushing global tobacco taxes.

To add insult to injury, the bureaucrats who work at these organizations have created very comfortable lives for themselves while the rest of us pick up the tab, as documented here and here.

But the ultimate insult is that the overpaid and pampered bureaucrats receive tax-free salaries while they jet-set around the world pushing for higher taxes.

Yes, you read correctly. They demand higher taxes for everyone else, but their bloated salaries are exempt!

Here’s some of what the UK-based Guardian just reported about the head of the IMF.

“Taxes for thee, but not for me”

Christine Lagarde, the IMF boss who caused international outrage after she suggested in an interview with the Guardian on Friday that beleaguered Greeks might do well to pay their taxes, pays no taxes, it has emerged. As an official of an international institution, her salary of $467,940 (£298,675) a year plus $83,760 additional allowance a year is not subject to any taxes. …Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it. The same applies to nearly all United Nations employees.

To make matters worse, these globe-trotting bureaucrats have figured out all sorts of ways of padding their pay.

Base salaries range from $46,000 to $80,521. Senior salaries range between $95,394 and $123,033 but these are topped up with adjustments for the cost of living in different countries. A UN worker based in Geneva, for example, will see their base salary increased by 106%, in Bonn by 50.6%, Paris 62% and Peshawar 38.6%. Even in Juba, the capital of South Sudan, one of the poorest areas of the world, a UN employee’s salary will be increased by 53.2%. Other benefits include rent subsidies, dependency allowances for spouses and children, education grants for school-age children and travel and shipping expenses, as well as subsidised medical insurance. For many years critics have complained that IMF, World Bank, and United Nations employees are able to live large at international taxpayers’ expense.

So how do these bureaucrats justify their lavish salaries and gold-plated benefits?

Officials from the various organisations have long maintained that the high salaries are a way of attracting talent from the private sector. In fact, most senior employees are recruited from government posts.

Kudos to the Guardian for exposing this nonsense, particularly the fraudulent claim that lavish compensation packages are need to attract and retain these incompetent bureaucrats.

But let me add to the Guardian’s analysis. In a recent email exchange with several people, I addressed this issue, specifically commenting on whether the head of the IMF, Ms. Lagarde, should get a giant salary because she could earn more money in the private sector. I wrote that there were two responses to this assertion.

1. She has genuine skills as a wealth creator. In which case, we should force her out of the IMF as soon as possible so her talents can be used productively rather than destructively.

2. She can get big bucks by trading on her connections and entering the world of corporatism. Work for KPMG, or the Carlyle Group, or some other entity that specializes in getting favorable deals for the elite. That’s not the private sector.

In either case, her salary in her current position should be zero. Unless we think she should be paid the value of her marginal product, in which case she probably owes the world’s taxpayers several hundred billion dollars.

In other words, it doesn’t matter whether Ms. Largarde’s ability to earn lots of money is the result of genuine ability or cronyism. Since the IMF is pursuing bad policy, her value in that position is below zero.

My Cato colleague Richard Rahn was correct when he wrote that it is the ultimate hypocrisy for tax-free bureaucrats to lobby for higher taxes on the rest of us.

And that’s why defunding these parasitic international bureaucracies is not just good fiscal policy and good economic policy, it’s also the morally just policy.

SOURCE

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The Great Debate

Emmett Tyrrell

Here I am on the campaign trail, frenetically promoting my book, "The Death of Liberalism." I appear on scores of radio interviews, in and out of the studio. I appear on Fox News and C-SPAN. I hardly have time for dinner, but it could be more demanding still. I could be invited to appear on mainstream media, as it is still quaintly called. Yet I am not. ABC, CBS, NBC, CNN, and MSNBC do not call. I, the editor of a major magazine from the right that has been around for 45 years, have written a book arguing that a major political ideology, Liberalism, is dead, and no one in the mainstream media seems to think it merits even a spitball. Things have changed even more than the mainstream media knows.

Thirty years ago, when I came out with a book, all the above networks -- at least all the above networks that were then in business -- would have me on. They thought I was crazy, but they would have me on. Through all these years, my views have not changed or radicalized. They remain pretty much fixed, though possibly I am a little bit more liberal. I am more tolerant of sexual diversity. I have flipped and oppose capital punishment. I am open to reforming the criminal justice system to treat nonviolent crime differently from violent crimes. But today, the mainstream media is alien country to me. I cannot get in even with a green card. Three, possibly four, presidents have been my friends, but I remain persona non grata with mainstream media, especially when I talk about politics.....

I say wherever I go nowadays that Liberalism is dead. One piece of evidence is mainstream media. It pretends the dominant political view in the country, conservatism, does not exist.

More HERE

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My Twitter.com identity: jonjayray. I have deleted my Facebook page as I rarely access it. For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

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"Six days thou shalt work, but on the seventh day thou shalt rest" -- Exodus 34:21

My recent very unpleasant medical problems have made me ask what is the best way forward in my life. To answer that question I turned to the wisest book I know: The Bible. And I found the quotation above. Following Bible advice has always worked wonderfully for me so I now intend to follow that piece of advice too. I intend from now on the keep the Sabbath and will blog only six days of the week instead of seven.

But it will be the real Sabbath I will keep, not the pagan abomination of the Sun's day. It was precisely because the pagans had set aside the first say of the week as a day to worship the sun that the ancient Hebrews defiantly made the seventh day of the week their holy say and I will follow their example. I will no longer blog on Saturday but will do other things.

But I will not be surrounding what I do with rules. As Jesus said, the Sabbath is made for man, not man for the Sabbath. The Bible simply says to do no work and that does not exclude doing all sorts of other things.

One of the things I would like to do today is to learn the words of the Stabat Mater in full. It is the most famous Medieval Latin poem and has been set by many composers -- with the glorious rendition by Pergolesi being best known. I already sort of know the poem but would like to be able to recite the whole thing right through without interruption. To be able to do that will be pleasure, not work. Latin poetry is wonderful even in a work of Marian devotion.

Stabat mater dolorosa
Juxta crucem lacrimosa
Dum pendebat filius

Cuius animam gementem
contristatam et dolentem
Pertransivit gladius ... etc

The is a video from Italy here which offers a respectful version of the first part of the Pergolesi masterpiece. If it's a techno beat you like, you will hate it. This is a work of profound contemplation about the central event of the Christian faith. Even I as an atheist can feel the power of it.

History: The Obama version

Riffing on the re-election trail, President Obama often tells crowds that "We've got to move forward to the future we imagined in 2008." An imaginary future from the past—got it. Then there's the imaginary history of the past that Mr. Obama has been recounting lately, when his first-term spending and debt boom never happened.

Mitt Romney "warned about a 'prairie fire of debt.' That's what he said," Mr. Obama said on the Des Moines fairgrounds on Thursday, as if he couldn't believe it either. "He left out some facts. His speech was more like a cow pie of distortion," Mr. Obama continued, with the finely shaded eloquence for which he is known. "What my opponent didn't tell you was that federal spending since I took office has risen at the slowest pace of any President in almost 60 years."

Making this a new White House theme, press secretary Jay Carney chimed in to "make the point, as an editor might say" to White House reporters that they should not "buy into the B.S. that you hear about spending and fiscal constraint with regard to this Administration. I think doing so is a sign of sloth and laziness."

Mr. Carney the media critic deeply sourced his view to someone named Rex Nutting, who wrote an 856-word column for MarketWatch that argued "There has been no huge increase in spending under the current President, despite what you hear."

Mr. Nutting claims that spending is rising at 1.4% annually, versus 8.1% for George W. Bush's second term. How did he manage to suss out the insights that have eluded every other human being who has spent time with the historical budget tables? His accounting methods are, er, unusual.

Mr. Nutting claims that Mr. Obama is only responsible for $140 billion worth of spending in his hyperactivist first year in office because . . . the fiscal year technically begins on October 1, 2009. Therefore he says Mr. Obama had no control over the budget, though in February 2009 he did famously manage to pass an $800 billion stimulus that was supposed to be a one-time deal. Mr. Nutting then measures Mr. Obama's spending growth rate against an inflated 2009 baseline that includes the spending Mr. Obama caused but which he attributes to Mr. Bush.

This is like an alcoholic claiming that his rate of drinking has slowed because he had only 22 beers today and 25 beers yesterday. To extend the analogy, let's stipulate that Mr. Bush was no fiscal teetotaler, though that's even more an indictment of Mr. Obama.

Mr. Nutting also has some fun toggling among Congressional Budget Office estimates, CBO baselines, White House budget proposals and actual spending to make the Obama record look better. To anyone who really knows the numbers, Mr. Obama's spending has increased by closer to 5% a year. Comparing apples to apples, CBO says total federal spending was $2.98 trillion in 2008 and has risen every year to reach $3.72 trillion in Mr. Obama's fiscal 2013 budget.

The larger conceptual error of the Nutting-Obama-Carney troika is neglecting to compare the budget to the size of the economy. The best perspective on how outlays, tax receipts and deficits change over time is as a share of GDP. Those data reveal historical trends because they account for different inflation rates and include changes over society as a whole like population growth.

Prior to Mr. Obama, the U.S. had not spent more than 23.5% of GDP—that was in 1983, amid the Reagan defense buildup—since the end of World War II. Yet Mr. Obama has managed to exceed that four years in a row: 25.2% in 2009, 24.1% in 2010 and 2011, and an estimated 24.3% in 2012, up from a range between 18%-21% from 1994-2008.

Democrats try to explain this away by saying that the economy is lousy, so spending's share of GDP looks larger than it would be with faster growth. But that is hardly an endorsement of Mr. Obama's economic policies, and in any case the recession officially ended nearly three years ago, in mid-2009.

The economy has since been growing but spending has been growing too even from the stimulus-inflated baselines. Every time House Republicans have tried to cut more spending since 2010, Mr. Obama has fought them tooth and claw.

As for that prairie fire of debt, Mr. Obama can fairly blame $1 trillion or so of the $5 trillion debt increase of the last four years on Mr. Bush. But what about the other $4 trillion? Debt held by the public now stands at 74.2% of the economy, up from 40.5% at the end of 2008—and rising rapidly.

In Des Moines, Mr. Obama's reading of U.S. fiscal history—"what generally happens"—was that "Republicans run up the tab" and then blame Democrats for the bill. Meanwhile, Mr. Nutting floated and Mr. Carney cited the "fact" that even Herbert Hoover spent more than Mr. Obama. Oh great. That means the President may stop blaming George W. Bush for the problems he inherited and instead start blaming Bush, Bush, Reagan, Ford, Nixon, Eisenhower and Hoover.

SOURCE

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Tragedy of unbridled self-interest

By WALTER E. WILLIAMS

Our nation is rapidly approaching a point from which there's little chance to avoid a financial collapse. The heart of our problem can be seen as a tragedy of the commons. That's a set of circumstances when something is commonly owned and individuals acting rationally in their own self-interest produce a set of results that's inimical to everyone's long-term interest. Let's look at an example of the tragedy of the commons phenomenon and then apply it to our national problem.

Imagine there are 100 cattlemen all having an equal right to graze their herds on 1,000 acres of commonly owned grassland. The rational self-interested response of each cattleman is to have the largest herd that he can afford.

Each cattleman pursing similar self-interests will produce results not in any of the cattlemen's long-term interest – overgrazing, soil erosion and destruction of the land's usefulness. Even if they all recognize the dangers, does it pay for any one cattleman to cut the size of his herd? The short answer is no because he would bear the cost of having a smaller herd while the other cattlemen gain at his expense. In the long term, they all lose because the land will be overgrazed and made useless.

We can think of the federal budget as a commons to which each of our 535 congressmen and the president have access. Like the cattlemen, each congressman and the president want to get as much out of the federal budget as possible for their constituents. Political success depends upon "bringing home the bacon." Spending is popular, but taxes to finance the spending are not. The tendency is for spending to rise and its financing to be concealed through borrowing and inflation.

Does it pay for an individual congressman to say, "This spending is unconstitutional and ruining our nation, and I'll have no part of it; I will refuse a $500 million federal grant to my congressional district"? The answer is no because he would gain little or nothing, plus the federal budget wouldn't be reduced by $500 million. Other congressmen would benefit by having $500 million more for their districts.

What about the constituents of a principled congressman? If their congressman refuses unconstitutional spending, it doesn't mean that they pay lower federal income taxes. All that it means is constituents of some other congressmen get the money while the nation spirals toward financial ruin, and they wouldn't be spared from that ruin because their congressman refused to participate in unconstitutional spending.

What we're witnessing in Greece, Italy, Ireland, Portugal and other parts of Europe is a direct result of their massive spending to accommodate the welfare state. A greater number of people are living off government welfare programs than are paying taxes. Government debt in Greece is 160 percent of gross domestic product. The other percentages of GDP are 120 in Italy, 104 in Ireland and 106 in Portugal. As a result of this debt and the improbability of their ever paying it, their credit ratings either have reached or are close to reaching junk bond status.

Here's the question for us: Is the U.S. moving in a direction toward or away from the troubled EU nations? It turns out that our national debt, which was 35 percent of GDP during the 1970s, is now 106 percent of GDP, a level not seen since World War II's 122 percent. That debt, plus our more than $100 trillion in unfunded liabilities, has led Standard & Poor's to downgrade our credit rating from AAA to AA+, and the agency is keeping the outlook at "negative" as a result of its having little confidence that Congress will take on the politically sensitive job of tackling the same type of entitlement that has turned Europe into a basket case.

I am all too afraid that Benjamin Franklin correctly saw our nation's destiny when he said, "When the people find that they can vote themselves money, that will herald the end of the republic."

SOURCE

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Alger Hiss is still betraying you

It was high political drama more than six decades ago—controversial and polarizing. A Harvard trained and highly ranked member of the Federal Government charged by a self-confessed former Soviet spy of being a partner in those very same nefarious enterprises.

On the one hand there was Whitaker Chambers, the somewhat frumpy-looking accuser, a man who had wandered in from the darkened cold years before, having seen the sinister reality behind the propaganda-driven hope and change promised by Communism. Then there was this other guy with poster-child-for-success looks, brains, friends in very high places, and a killer resume with seemingly endless references. His name was Alger Hiss.

Add to that mix a committee in the House of Representatives increasingly dominated by a young Congressman named Richard Nixon who was quickly climbing a ladder to somewhere—and no Hollywood writer or gifted novelist could devise a more compelling story. Along the way we learned about microfilm squirreled away in a pumpkin on a Maryland farm, one man’s dental challenges, and a President of the United States talking about something called a “red herring.”

The story simply won’t go away—nor should it. It contains the DNA of our current national political discussion and cultural divide. Ask people about the Hiss case today and many will predictably give you a deer-in-the-headlights stare. But those old enough to remember, or who have demonstrated a cultivating interest in the political history of our country for the past hundred years or so, tend to quickly reach animation. “Hiss was smeared,” or “Chambers was right,” or my favorite: “Well, that was just McCarthyism at its worst.”

Never mind that Senator Joe McCarthy didn’t even begin to make a name for himself until after Alger Hiss’s conviction on a couple of counts of perjury.

But as the saying goes—“Just because you’re paranoid doesn’t mean they aren’t out to get you.” And with the Hiss case it took years for a preponderance of evidence to come out proving that Whitaker Chambers was right and that Alger Hiss lied. He was a traitor and perjurer. And it still matters today, not just because of the idea of finding out the true story but because the philosophies the two men represented at the time are alive and well and every bit as distinct and diametrically opposed as the Tea Party is from the group purporting to Occupy Wall Street.

Even while denying his guilt throughout his life (he died in 1996 at the age of 92), Mr. Hiss maintained a steadfast belief in the liberalism behind all the manifestations of the New Deal. And this remains the salient talking point—the very real connection between the “progressive” political machinations and actual Marxist thought and methodology. “What Is To Be Done” gave way to what has been done. This is the story of American political liberalism from the heady days of the New Deal to the conjured euphoria of “Yes, We Can.”

In her new book, Alger Hiss: Why He Chose Treason, Christina Shelton, a retired U.S. intelligence analyst, refreshes our memory not only about the Hiss case itself, but why it indeed still very much matters:

“The story doesn’t go away, because it has become a symbol of the ongoing struggle for control over the philosophical and political direction of the United States. It is a battle between collectivism and individualism; between centralized planning and local/state authority, and between rule by administrative fiat and free markets…
Hiss firmly believed in a collectivist political ideology; he believed government was the ultimate instrument of power for solving problems and that the U.S. Constitution should be bent or bypassed to support this view. Hiss put his political belief into practice in his support for Communism and loyalty to the USSR, a state where government authority and power were not limited by the rule of law—in fact it would brook no limit.”

Whitaker Chambers, who died in 1961, never lived to see the fall of Soviet communism. In fact, he truly believed that it would never happen and that when he left communism to embrace the ideas and ideals of American freedom he was leaving the winning side for a losing cause. We know that he was wrong—at least in the short run. Having read his wonderful political tome, Witness, several times, I often wonder what Chambers would have made of the events of the late 1980s and early 1990s.

Yet, to sort of quote Ronald Reagan: “Here we go again.”

These days, the “constant vigilance” consistently needed to perpetuate liberty in the face of what often seems to be humankind’s default affinity for a clueless slouch toward tyranny (weeds grow naturally, flowers take work), seems to be in dangerously short supply. The Hiss case would be a great story for all Americans to revisit every few years—as a caveat and catalyst. Christina Shelton’s book is a great place to start. She reminds us that, “Hiss has become emblematic of the ideological divide that continues to this day in the United States…Hiss’s advocacy of collectivism and the need for government control over society and his support for international policies ahead of national security interests still resonate today.”

Toward the end of the book, Shelton tells the story of Vladimir Bukovsky, a man who spent a dozen years in Soviet prisons and labor camps as a dissident. He reflectively compared the former USSR and the European Union (EU), where “nationalism is suppressed in an attempt to establish a socialist European state.” He summarized his comments with words of warning:

“I have lived in your future and it didn’t work.”

SOURCE

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ELSEWHERE

TN: Judge’s ruling stops mosque construction: "A judge’s ruling has stopped construction of a Nashville suburban mosque that has been at the center of a rowdy debate for more than two years. Chancellor Robert Corlew ruled Tuesday that proper public notice was not given for the May 2010 meeting that approved the site plan for the mosque being built near Murfreesboro, a booming city of about 100,000 people southeast of Nashville"

Is commerce decent?: "Most people take it for granted that medicine, education and science have merit and those doing work in those fields are doing the right thing. They can claim credit for having chosen a fine calling or vocation. But the same is not so with business. A clear indication of this is that there is a great deal of talk about the social responsibility of corporations, and how companies should give back to the community in contributions, something few other professionals hear of. Are college professors being implored to do likewise? No, because their work is deemed to be worthwhile in and of itself."

Fascism is the real object of OWS wrath: "What so enrages OWS folk is actually State Capitalism, in which large enterprises operate under the guidance of and for the benefit of the State, which returns the favor by enacting laws to give each an effective monopoly. A better term for that is 'Fascism,' with every economic activity within the State and controlled by the State but not actually owned by the State; while it's an ancient idea -- 18th Century Mercantilism was one form of it -- it formed a more successful alternative to Communism in the 20th Century and seems to have been worked out first by Mussolini, who began adult life as a Communist and attracted the notice of Lenin as such, but who later recognized that it's much smarter to direct the cow and milk her, than to own her outright. What we see all around us, and what our OWS friends are protesting, is a well-developed version of such fascism."

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My Twitter.com identity: jonjayray. I have deleted my Facebook page as I rarely access it. For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

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The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

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What's the Matter With Manhattan?

Back in 2004, Thomas Frank wrote a famous book, "What's the Matter with Kansas?", in which he lamented working class white people's choices to vote their "values" rather than what -- in his not-so-humble opinion -- was in their "genuine" economic interests. Why didn't they identify as liberals and vote Democratic?

Frank's book was the midwife of President Obama's infamous "clinging to guns and God" remark on April 11, 2008:

The last few years have not been kind to Frank's or Obama's dogmatic assumptions that economic liberalism is in the interest of Kansas -- i.e., the working people of America.

The presumed tension between Kansans' economic interests and their social values appears increasingly fake.

But in the meantime, as Newark, N.J., Mayor Cory Booker's dramatic heresy on Bain capital last weekend shows, the inverse divide is opening up in the Democratic base that could be called "What's the Matter with Manhattan?"

Liberals live in rich social enclaves with artistic, progressive values that are underwritten largely by the wealth that Wall Street and capitalism create.

A 2009 Quinnipiac poll notes that socially liberal values rise with income -- "support for same-sex marriage also rises with income, as those making less than $50,000 per year oppose it 54 to 39 percent, while voters making more than $100,000 per year support it 58 to 36 percent."

The very rich are disproportionately strong social liberals, whom Bill Clinton persuaded could safely vote for Democrats. Obama's attacks on private equity and the 1 percent are making them think anew: Why should Manhattan vote their values against their pocketbooks?

Manhattan (metaphorically speaking) is thinking hard about that:

In 2008 Obama carried the majority of the rather rich -- those making $200,000 or more per year -- earning 52 percent of the vote, which was 17 points more than John Kerry in 2004. The latest Quinnipiac poll shows Obama trailing among the more modestly affluent -- those making $100,000 or more -- 49 percent to 43 percent.

Raul Fernandez, part owner of the Washington Capitals and the Washington Wizards, donated $30,000 to Obama in 2008. He told The Washington Post last month to count him into the "anybody but Obama" camp. "They paint (wealth creation) with one big brush," Fernandez told the paper. "They are truly trying to make it evil."

And it's not just as donors that these people count.

According to the National Journal, more than one-third of Virginia voters make more than $100,000 per year, and 7 percent make more than $200,000 a year -- more than the coveted Latino voters in that state. In Colorado, another swing state, 8 percent of voters make $200,000 a year or more. Obama carried them last time around by double digits (compared to Bush's 66 percent of this vote in 2004).

If Manhattan -- or more to the point Aspen, Colo. -- votes its economic interests instead of its social values, Obama loses. "What's the matter with Aspen?" could become Thomas Frank's new rallying crime.

Meanwhile "Kansas," metaphorically speaking, is ever more unified against Obama:

Obama won just 40 percent of non-college-educated whites in 2008. Last week's Quinnipiac poll showed him winning just 32 percent of them against Romney.

In another swing state, Florida, a poll released this week shows Obama's deficit among white voters is growing, especially among those without a college degree; Obama now trails Romney 57 percent to 30 percent among less educated whites.

In Florida, the social issues are clearly helping Romney. Twenty-two percent of voters say gay marriage will be "very" or "extremely" important to their vote. They are breaking for Romney 2-1.

Liberals such as Frank thought that working class white voters were so dumb they were being fooled by Republicans into voting against their economic interests by "ginned up" social issues campaigns. Kansans knew better.

Obama is trying to borrow that model, to get affluent white voters to vote against their economic interests by ginning up social issue campaigns like the war on women or endorsing gay marriage.

Will Manhattan be as smart as Kansas?

SOURCE

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Public pension funds desperately need Romney

If you are getting 1% interest at the bank, why do you suppose those legislators you elect are still betting the return on pension funds will be 7.5% to 8%? The answer is simple. If they don’t project those rates the law they enacted forces them to currently fund the shortfall. Since legislators don’t have any money that means you, the ones who elected these politicians, will have to pay higher taxes or get fewer services or benefits.

In the article below we find that cities reducing the rate will have to currently fund millions and in some cases billions each year to comply with the law. That means these well-meaning politicians have screwed up royally and you dear taxpayer are going to pay through the nose because of their mistakes.

This problem is no longer a disaster waiting to occur it is a catastrophe. Cities, counties, states as well as teachers, unionists and others will be looking for the taxpayers to bail them out and pay those pensions out of increased taxes. You will note in the article that the union bosses who bankrupted so many companies and cities with higher wages, pensions and medical benefits are now attempting to force the legislators to pay those pensions by taxing the people.

Compounding this problem is the redistributionist policies of the present administration. They are preaching that profits are evil and as a result stock prices that make up the great majority of all pensions assets are languishing with the exception of the crony capitalists like GE. Their policies have now affected growth in the value of stocks in such a material way that pension funds will all go broke if governmental attitudes towards profits and free enterprise don’t change

All this can be changed by a rejection of the Democrat party at all levels in the November election. They are the ones preaching that capitalism is wrong while they attempt to tax that capital out of existence. Unfortunately we have imbeciles in Hollywood, Wall Street, Washington and elsewhere who have no clue that what they want is leading us into bankruptcy.

Rate of return is determined by the annual increase in the value of stock plus dividends held by pensions. Ever since the Democrats were returned to office in 2007 the stock market hasn’t even been a 1% affair (when it was not falling or recovering). Should the Republicans be returned to office this pension problem could be easily solved. That would happen because stock prices would soar with the repeal of Obamacare, Dodd Frank and Sarbanes-Oxley and the elimination of onerous regulations and policies like the EPA impose.

Rates of return are a funny thing. They respond to freedom of opportunity. When Clinton buckled under on Welfare in 1996 the S&P 500 went up 70% from 1-1-96 to 12-31-97. That‘s right 70%. Now we know what happened to that same stock index when it became apparent that Barack Obama would become President in September 2008. It fell 50% and caused a panic in the marketplace.

We can save the pensions and we can save those irresponsible politicians (or if you want to be more precise “ourselves”) if we throw out the redistributionist Democrats and elect Republicans who believe in free enterprise and market-based decision making. We could easily have a 70% increase in pension values and solve this pension problem. All we need to do is believe in ourselves and loosen the shackles of government.

A 1% return is pathetic and illustrates what a failure the Democrat party is. Under George W. Bush there were three years where the S&P 500 went up over 20% a year. And Barack Obama and leading Democrats say those were failed policies. They want us to believe 1% returns are better.

-- comments by retired accountant Dick McDonald

Few investors are more bullish these days than public pension funds. While Americans are typically earning less than 1 percent interest on their savings accounts and watching their 401(k) balances yo-yo along with the stock market, most public pension funds are still betting they will earn annual returns of 7 to 8 percent over the long haul, a practice that Mayor Michael R. Bloomberg recently called “indefensible.”

Now public pension funds across the country are facing a painful reckoning. Their projections look increasingly out of touch in today’s low-interest environment, and pressure is mounting to be more realistic. But lowering their investment assumptions, even slightly, means turning for more cash to local taxpayers — who pay part of the cost of public pensions through property and other taxes.

In New York, the city’s chief actuary, Robert North, has proposed lowering the assumed rate of return for the city’s five pension funds to 7 percent from 8 percent, which would be one of the sharpest reductions by a public pension fund in the United States. But that change would mean finding an additional $1.9 billion for the pension system every year, a huge amount for a city already depositing more than a tenth of its budget — $7.3 billion a year — into the funds.

But to many observers, even 7 percent is too high in today’s market conditions.

“The actuary is supposedly going to lower the assumed reinvestment rate from an absolutely hysterical, laughable 8 percent to a totally indefensible 7 or 7.5 percent,” Mr. Bloomberg said during a trip to Albany in late February. “If I can give you one piece of financial advice: If somebody offers you a guaranteed 7 percent on your money for the rest of your life, you take it and just make sure the guy’s name is not Madoff.”

Public retirement systems from Alaska to Maine are running into the same dilemma as they struggle to lower their assumed rates of return in light of very low interest rates and unpredictable stock prices.

They are facing opposition from public-sector unions, which fear that increased pension costs to taxpayers will further feed the push to cut retirement benefits for public workers. In New York, the Legislature this year cut pensions for public workers who are hired in the future, and around the country governors and mayors are citing high pension costs as a reason for requiring workers to contribute more, or work longer, to earn retirement benefits.

In addition to lowering the projected rate of return, Mr. North has also recommended that the New York City trustees acknowledge that city workers are living longer and reporting more disabilities — changes that would cost the city an additional $2.8 billion in pension contributions this year. Mr. North has called for the city to soften the blow to the budget by pushing much of the increased pension cost into the future, by spreading the increased liability out over 22 years.

Ailing pension systems have been among the factors that have recently driven struggling cities into Chapter 9 bankruptcy. Such bankruptcies are rare, but economists warn that more are likely in the coming years. Faulty assumptions can mask problems, and municipal pension funds are often so big that if they run into a crisis their home cities cannot afford to bail them out.

More HERE

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Democrat rule of Northern cities is so bad that savvy blacks are moving to the SOUTH

Winston Churchill captured what this presidential election is about when he observed “the inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”

It’s why the young black Democrat mayor of Newark, NJ, Cory Booker, got high level repudiation from the Obama campaign, including from the president himself, when he insolently suggested that Bain Capital, the investment firm once headed by Mitt Romney, might actually do positive things.

Booker, an Obama campaign surrogate, went off script on Meet the Press when he refused to justify a campaign attack ad depicting the evils of Bain. “I’m not about to sit here and indict private equity….Especially that I know I live in a state where pension funds, unions and other people are investing in companies like Bain Capital.”

This was more than insubordination to Booker’s campaign handlers.

It was unmitigated heresy driving to the core of the Obama campaign message. The narrative, telescoping the theme of four years of this presidency, says that the American economy collapsed because of unbridled capitalism. To recover, the narrative continues, we must allow all knowing, all powerful, but compassionate political leadership in Washington to re-arrange the American economy and make sure businessmen never steamroller Americans again.

But Booker, educated at Stanford, Oxford, and Yale Law School, is a new breed of young black politician, who is actually trying to make a difference. And he is too close to realities on the ground to deny the truth he sees.

As mayor of Newark, he governs a city that is more than 50 percent black with a 25 percent poverty rate. It’s clear that what Newark needs is more business and investment, not more government.

George Mason University economist Walter Williams recently noted that America’s poorest cities with populations over 250,000 – Detroit, Buffalo, Cincinnati, Cleveland, Miami, St. Louis, El Paso, Milwaukee, Philadelphia, and Newark – have one common characteristic. For decades they have been run by liberal, Democratic administrations. The mayors of six of them have been black.

The big government, high taxation, overreaching regulation model of governing has been a saga of failure in America’s cities. And it certainly has not served well the black populations that disproportionately populate them.

And interestingly, in another paradox of black political behavior (I wrote last week about the stark contrast between the values that blacks embrace in church on Sunday and the values they vote for on Election Day Tuesday), blacks are voting with their feet against the same political regimes that they are supporting in the voting booth.

The New York Times reported last March that, according to new census data, blacks are departing our failed northern cities and heading south. Blacks may be pulling the lever for “blue” candidates, but they’re leaving the blue states and moving to the red ones.

Michigan, Illinois, New York, and other major Northern black population centers have shown net black population decreases over the last decade, and “among the 25 counties with the biggest increase in black population, three quarters are in the South.”

Professor of history Clement Price at Rutgers University in Cory Booker’s Newark says “the black urban experience has essentially lost its appeal with blacks in America.”

These black Americans on the move are young and educated – 40 percent between 21 and 40 and one in four with college degrees – and looking for opportunity.

And the places in America today with the growth and opportunity they seek are those areas that embrace freedom and entrepreneurship.

Cory Booker knows this. And he knows that fixing America’s blighted urban areas means pushing back on the smothering government that caused this decay and inviting in creative and courageous business minds and their investment capital.

So Booker’s defense of Bain and capitalism should come as no surprise.

SOURCE

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My Twitter.com identity: jonjayray. I have deleted my Facebook page as I rarely access it. For more blog postings from me, see TONGUE-TIED, EDUCATION WATCH INTERNATIONAL, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, FOOD & HEALTH SKEPTIC, AUSTRALIAN POLITICS, IMMIGRATION WATCH INTERNATIONAL, EYE ON BRITAIN and Paralipomena

List of backup or "mirror" sites here or here -- for readers in China or for everyone when blogspot is "down" or failing to update. Email me here (Hotmail address). My Home Pages are here (Academic) or here (Pictorial) or here (Personal)

****************************

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Stalin's Communism. The very word "Nazi" is a German abbreviation for "National Socialist" (Nationalsozialist) and the full name of Hitler's political party (translated) was "The National Socialist German Workers' Party" (In German: Nationalsozialistische Deutsche Arbeiterpartei)

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