Wednesday, May 23, 2018

Wheels Coming Off the Cathedral: Deutsche Bank Back in Trouble

We mentioned Deutsche Bank a few times in 2016 such as here and here. It's the most important bank in Europe because it combines financial heft with political risk. Greece, Italy and Spain are the pathetic debtors punished by the responsible Germans. An open confrontation between debtors and lenders is underway again and this time the debtors (Italians) look like they won't go away quietly. Meanwhile, German moral authority is blown to smithereens if they in turn have to bail out their biggest bank, given that they made life miserable for Greece, Italy and Spain when they faced similar situations.

Deutsche Bank To Fire 10,000 Employees: 1 In Every 10

Deutsche Bank isn't at a new low, yet.
At the same time, Italian bond yields are soaring and the Turkish lira is collapsing. Italy has threatened deportation of 500,000 migrants. Turkey has threatened to send migrants into Europe if it isn't paid off.

Germany's chickens are coming home to roost, but it will also be a treacherous period for the U.S. economy. In a way, Trump is lucky that the greatest political scandal in American history is unfolding because it may be the only thing that will distract voters from a recession heading into the 2020 election.

Wednesday, May 16, 2018

Communist America

Four socialist-backed candidates win Pennsylvania legislative primaries
Four Democratic candidates backed by the Democratic Socialists of America (DSA) won primary elections for legislative seats in Pennsylvania on Tuesday.
I am surprised the DSA is still operating, I thought they had faded away. If conservatives reacted to this news the way the left reacts to Nazis, thye wouldn't have to deal with an Alt-Right. Here's the Cathedral in a nutshell:
The DSA's ideas are greatly influenced by those of writer Michael Harrington, Chairman of the League for Industrial Democracy (1964) and member of the National Executive Board of the Socialist Party of America (1960–68). Opposed to capitalism and communism alike as cruel and anti-libertarian social systems, Harrington advocated working for a realignment of the U.S. Democratic Party away from an amorphous amalgam of often contradictory ideas and toward a principled party of the left.
Put it this way. Marx was a democrat with a small D. The Democratic Socialists envision a humane social order based on popular control of resources and production, economic planning...and racial equality. I share an immediate program with liberals in this country because the best liberalism leads toward socialism.... I want to be on the left wing of the possible.

Friday, May 11, 2018

The Far Left Economist

This used to be one of the conservative columns in the magazine. Now it is unironically far-left progressive. What a difference a decade makes!

Laughing with Diamond and Silk

It is a great article for criticizing blue-pilled conservative Republicans:
THE three southern ladies entering the Marriott Hotel in Greensboro, North Carolina, were clear about why they loved Diamond and Silk. “They’re very conservative,” said Stephanie, who had driven for two hours over from Charlotte to watch the social-media stars and professional Trump fans perform their new show. “And, you know, they’re black,” said Gracie. “That means black people don’t need to have a certain point of view.” It also makes some whites feel better about holding a certain view. Soothing Trump voters’ anxiety over their reputation for racism is the main function of Lynnette Hardaway and Rochelle Richardson, as Diamond and Silk are properly called. It has made them highly successful political entrepreneurs.
Conservatives often talk of blacks being on the Democrat plantation, but blue-pilled conservatives are also on a plantation: the Cathedral's. That bold portion is a good line for burning blue-pilled conservatives. For the red-pilled, it's easy to see the Cathedral reaching its hand from behind the curtain.

As for the progressive finish:
It is good that such voters do not like to be considered racist. It is also understandable that many of them feel frustrated to be told that the casual bigotry which was acceptable in the 1980s no longer is. It is not their fault that the definition of racism in America has broadened. But the racial battle-lines Mr Trump has drawn leave no room for such niceties. In reality, African-Americans always vote in line with their interests, and a president who has equivocated on white supremacist violence naturally repels them. Fully 84% consider Mr Trump racist. That represents an American tragedy, a reaffirmation of racial-political divisions from which Diamond and Silk provide no comic relief. The joke is on anyone who thinks they do.
One of racism's new broadly defined qualities is having the opposite political opinion of blacks. Since blacks vote their interests race, and their race allies with the left, to be a right-winger is to be a racist. If blacks think 2+2 = 5, then if you say 2+2 = 4, you are a racist. That is how the definition works. It's also why you and every right-winger you know needs to be red-pilled. Racism is not a logical or rational argument, it is an emotional and rhetorical argument designed to make you stop thinking logically. It is social pressure designed to push you into abandoning your own self-interest.




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