I wrote the previous tweet yesterday. Today, the inimitable Victor Davis Hanson has penned a remarkable (yes, another one!) take-down of preening geopolitical blowhards who seem to forget history because they are blinded by their hatred of Trump. Allow me to serialize.
1. Trump's Foreign Policy Record (Forget the words, look at deeds and results)
Is the world really imploding after 70 years of supposed “calm”? Let us quickly review the past 70 years before Trump became president.
2. Quick Summary: Korean and Vietnam wars; Chinese, Cambodian, Rwandan, and Balkan genocides; at least six Middle East conflicts; 9/11; a dozen U.S. interventions; a nuclear Pakistan and North Korea; the Cuban and Berlin nuclear standoffs; ...
3. ... 20 years of Palestinian terrorism followed by 20 years of radical Islamic successors; a European Union financial and border meltdown; the Russian absorption of eastern Ukraine and Crimea, to name just a few “hot spots.”
4. In other words, Trump did not inherit an especially stable world. Has any elite expert even attempted to make sense of how some positive and much-needed change abroad was guided by Trump, someone without political and military experience? Let us correct the record.
5. In truth, after 2016, the United States is increasing its financial commitments to NATO. Several European members of the alliances may finally be addressing their prior unmet obligations and increasing defense spending.
6. The United Nations at least understands from Ambassador Nikki Haley that the United States will call out, rather than aid and abet, its occasional anti-Semitic lunacy.
7. Trump did not arbitrarily cancel NAFTA. Instead, the agreement is up for renegotiation on terms other than the expectation that the United States will always accept asymmetrical deals as part of its required role as the continent’s superpower.
8. The world itself is not in chaos as alleged. It seems a far safer place than it was between 2009 and 2016. ISIS is no longer a viable threat, promising to establish a new caliphate, in between beheading, burning alive, and drowning the innocent on video.
9. Israel is once again a strong U.S. ally. Saudi Arabia for the first time in its history is considering real reform. The Palestinians are beginning to understand that they can still damn, even threaten the United States, but not necessarily with U.S. aid money.
10. Iran is no longer harassing or hijacking U.S. ships. It is not so frequently boasting about what it will do to the Great Satan and Israel, much less sending missiles near U.S. carriers.
11. The world did not fall apart when the U.S. moved its embassy to Jerusalem or withdrew from the Paris Climate Accord. That fact instead exposed so-called elite predictions of Armageddon as the hysteria.
12. Syria expects to be bombed each time it uses chemical weapons that were declared “nonexistent” by an outgoing Obama admin. North Korea is not boasting any longer of incinerating American West Coast cities, but at least feigning consultation with China about denuclearizing.
13. China understands that for two decades a naïve West has let it cheat at will on trade agreements, on the spurious idea it would become more pro-Western and democratic, the more that the West subsidized its breakneck modernization.
14. This is the unmistakable progress the elite geopolitical gas bags like Ian Bremmer are moaning and groaning about ... because Trump. They don't have the decency to acknowledge how successful Trump has been in turning things around, around the world. Shame on them!
The End.
1. Leading from the Front—Again
Europe offers no alternative paradigm to a supposedly renegade United States. The German model of open borders and economic mercantilism no longer works all that well for Germany. The EU is more fearful of dissolution than preening of expansion.
2. The U.S. economy did not implode in early 2017, as predicted by elites, and take down the world with it. The stock market did not crash. Our labor non-participation rate did not spiral.
3. Instead, the country may be on its way to achieving its first 12-month period of 3 percent growth in 12 years. The stock market is at record highs, despite a few bumps, and unemployment at near-record peacetime lows.
4. There is also not so much talk of always increasing electricity rates, destroying the coal industry, banning more fracking, and subsidizing more Solyndra-like crony “green” companies. Instead, the United States is now the world’s largest energy producer.
5. Soon we may be our own largest petroleum producer. U.S. natural gas production will likely reduce world carbon emissions more than will European windmills and American solar panels. American companies are more likely to come home than to keep pulling up and moving abroad.
6. And Silicon Valley tech companies have never done so well under a president they hate so much.
7. The U.S. military for the first time in eight years is recovering its former strength. One way or another, there will likely be no more Bowe Bergdahl deals, decreased security at U.S. embassies and consulates in the Middle East, Iran Deals, or “lead from behind” doctrine.
8. When outnumbered Americans are trapped in a shootout abroad, it is more likely help will be on the way than the requests of the beleaguered would be put on hold.
9. The Obama “reset” doctrine has long been humiliated and buried. No one is talking any more about bargaining with Vladimir Putin to slash the American nuclear umbrella.
10. I don’t think new Secretary of State Mike Pompeo is aiming for a Nobel Prize. James Mattis and John Bolton likely disagree on a lot, but probably not on unchanging human nature and how to react to it.
11. Japan and South Korea certainly do not think America has abandoned them. They seem far more eager to show the United States that they are strategic partners.
12. Japan and South Korea also may well believe that the Trump Administration is more likely to come to their aid in extremis than were its mellifluous but otherwise inert Obama predecessors.
13. Trump did not give us alienated allies in the Middle East, a rubbery NATO, North Korean intercontinental missiles, Iran on an ascendant arc in the Middle East, China’s greater East Asia hegemony, Putin unbound, and Cuba and Iran wondering why they were courted as friends.
14. This same strange Washington disconnect between fantasy and reality reigns at home. After nearly two years of hysteria, there is no proof of Trump-Russian collusion.
15. Robert Mueller’s legal team—the party affiliations of its lawyers, their past involvements with players in contemporary scandals, and their leaking and scurrilous behaviors and communications—is a textbook example of how to create conflicts of interest.
16. The more Washington journalists scream of collusion, the more they are willfully blind to one of the most disturbing scandals in American history brewing right under their noses.
17. Many in the hierarchy of the Obama FBI, Justice Department, and national security team likely were involved in illegally spying on U.S. citizens.
18. They were massaging and warping the FISA courts to issue their warrants, unmasking many of the names of those surveilled, and then leaking them improperly and illegally to the media.
19. Nearly a dozen top Justice Department and FBI officials already have been fired, reassigned, or retired. None, except James Comey, are now gone because of what Trump did to them. They’re out because of what they tried to do to the duly elected president of the United States.
20. The resistance to getting to the bottom of the Uranium One scandals, the Hillary Clinton illegal private email server, the Clinton Foundation façade, and the politicization and weaponization of Obama-era U.S. intelligence services is not because there was no wrongdoing.
21. Rather, the silent fear is more that an impartial investigation would lead to discoveries of such a magnitude of wrongdoing by some of the most influential Americans of the present age, that to seek their indictments would undermine the structures of the DC establishment.
22. How, after all, could the DoJ indict Hillary Clinton for giving false testimony, for illegally using a private email server, for unleashing her husband to do quid pro quo Clinton Foundation deals, or for ...
23. ... hiring a foreign national to compile a hit dossier of gossip and rumor, gleaned through the bought collusion of Russian operatives, and empowered by the Obama FBI and DoJ to undermine the credibility of the Trump 2016 campaign, and later his transition and presidency?
24. It's one thing for several in the FBI and the Justice Department to be relieved of their jobs. But it is quite another to investigate why the likes of John Brennan, James Clapper, Ben Rhodes, Susan Rice, and others were apparently trafficking in the surveillance of Americans.
25. Or to reexamine whether Huma Abedin, Cheryl Mills, James Comey, or Andrew McCabe misled investigators or perjured themselves to Congress.
26. Or to reexamine what exactly ex-President Bill Clinton was doing with Russian interests to prompt such huge gifts to the Clinton Foundation and such generous largess to himself—lucre that mysteriously has ceased to flow since November 2016.
27. The media likewise for the last year has joined the stampede. It is apparently unaware that its shock at Donald Trump’s rhetoric, behavior, and comportment had nothing to do with the reality of his governance.
28. In all its self-righteous exclamation that the new journalism meant reporters had to be advocates of social justice and opponents of Trump, the media has turned into a propaganda ministry of 90 percent negative coverage of the president.
29. Yet by any fair standard, Trump has not as president done things 90 percent wrong. The longer, like Captain Ahab, they hunt down the mythical white Trump whale, the more they are ruining the very reputation of journalism as they once inherited it.
30. So, we live in two worlds. One is the material cosmos of concrete action and deeds. The other is little more than the unfiltered fears, anxieties and fantasies of ill-informed television talking heads, groupthink opinion journalists, and progressive zealots.
31. When this depressing period in American news and commentary is over, the liberal commentariat will not like the verdict on its own fecklessness, imbecility, and chicanery.
The END.
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Pay heed folks. The below tweet is from a patriot who I believe served our blessed nation in uniform with honor. Now I am going to say something I would never have thought I would say even a few days ago. It's a stream of consciousness thread. Bear with me.
2. Back in early 2016 and for years prior to that, I detested Donald Trump as a rich blowhard who had no relevance to my life. So I ignored him almost entirely. I have never watched a single episode of any of his TV programs and his other exploits were a source of irritation.
3. I only started paying attention to Trump in the second half of 2016 when he became the Republican nominee for president. I had serious reservations about him. But once he got elected, I was compelled to take him seriously. So I reflected diligently on Trump presidency to come.
What do you think the result of the below mentioned survey would be if the question was changed
from:
"Do you think companies should publicly support..."
to:
"Do you think companies should publicly profit from..."? nbcnews.com/nbc-out/out-ne…
2. Where public company actions are concerned, there is not a dime's worth of difference between "supporting" and "profiting from." No public company deliberately and willfully takes any action that might hurt their profits.
3. We as a society should of course treat gays with exactly the same respect and dignity and rights and everything else that is accorded to straights. We are all equal.
1. Message for Anyone Bothered By SVB Customers Being Made Whole
Stop with the nonsense. You either don't understand or are scratching a rash you got from somewhere else. It doesn't matter who SVB customers are or what they do. No depositor is ever responsible for a bank failure.
2. Bank failures are always the fault of the bank management and the regulators. And as for the "due diligence," it is fair to expect the bank investors and shareholders to do that and take a bath when they get it wrong. It's not fair to expect bank customers to do that.
3. Expecting depositors to do due diligence on the bank where they deposit their money is like asking every customer who uses electricity to graduate in Electrical Engineering before flipping a power switch to turn on the lights in their home. It is stupid blather.
1. How to Solve a Problem Like SVB
Having delineated in the enclosed thread how we got here, this thread addresses where we go from here. The SVB problem by itself is not that hard to solve, but it is possible politicians (of both parties) will plunge the nation into crisis.
2. First and foremost, let me dispense with the buzz on Twitter created by @elonmusk with his enclosed tweet. This ain't gonna happen. So please stop wasting time reading myriads of columns that have sprung up from this font. Musk is just having fun.
3. JP Morgan Chase would be a natural buyer but government screwed Jamie Dimon badly in 2008 after he came through and bought Washington Mutual at government’s urging. WaMu was the largest bank failure in U.S. history, SVB being the second largest.
There was plenty of mismanagement at SVB, but first and foremost I want to reassure my followers (maybe the events that unfold next week will make a liar out of me, so take everything I say as unauthoritative stream of consciousness).
2. The main thrust of this thread is to point out why the SVB blowout is nothing like the root cause of 2008 financial crisis, and people shouldn't jump to those kind of fears or conclusions. This is very different. Things like this have happened before but ~50 years ago, not 15.
3. 2008 financial crisis was brought on by banks making too many bad loans that were prone to risk of default. SVB was brought down by not making enough loans, but investing the deposited funds heavily in safe bonds which were nonetheless exposed to interest rate risk.