Category Archives: Economy

UPDATED: Weiner Worm Poster Boy for Anti-Semitism

Anti-Semitism, Democrats, Economy, Islam, Israel, Judaism & Jews, Left-Liberalism And Progressivisim, Politics, Technology

Someone has to say it. Everyone is thinking it. Better that a Jew do the job gentiles fear doing, and thus defuse the issue. Hypersexual. Hyperbolic. Obnoxious. Pushy. Left-liberal. Bright: These are some of the stereotypes that attach to Jews, at least to Jews of East-European origins. (Herein more information about ethnic dynamics in Israel, ignored by most American pundits.) And these are some of the subsurface traits people have in mind—but won’t mouth—about Rep. Anthony Weiner’s antics. Despite this “engorged organism’s” delusions to the contrary, his appearance doesn’t help matters.

But there’s more. Here’s what makes the Weiner worm more toxic. The Democratic congressman from New York is married to Huma Mahmood Abedin, a gorgeous, modest-looking, evidently devout Muslim woman.

Weiner, a libertine liberal, has demonstrated enormous ignorance of Islam, in general, and of Islam vis-a-vis the Jews, in particular. I can already see placards hoisted high, by angry mobs in the Middle-East, bearing Weiner’s ugly mug. This idiotic Jew has dissed and disrespected a Muslim woman.

Before you brand me a self-hating Jew (and I know that the “Age of the Idiot” dictates that my accuser will so do without searching my writings on Jews/Israel in support of his accusation), listen: In conspiratorial anti-Semitic “thinking”, Jews qua Jews are said to possess certain inherent, immutable, saboteur traits. I disagree. My opinion is this: What makes Jewish misguidedness more pronounced than gentile misconception is that Jews are more likely to rise to the top in many fields and professions, politics included. (See the “THE JEWISH CONNECTION.”)

As to Israel’s very different demographic dynamics: Most Israelis are descended from the Sephardi Jews expelled from Spain and Portugal in 1492 and 1497. From their exile in the Arab countries of North Africa and the Middle East, they fled to Israel as refugees after 1948. Fierce Zionists, Sephardis are as indigenous to the region as the sand dunes and the Sabra cacti. Their loyalty to the Likud Party derives, in part, from a loathing of what the Labor Party stands for, not least, a racist condescension for dark-skinned Jews. Sephardi Israelis often voice hostility to the leftist rank-and-file European Ashkenazis that populate Labor, as they are fed-up with being looked down upon and mistreated by them.

In other words, Weiner would likely be regarded as a foreign organism in Israel.

UPDATE (June 12): ISRAELI ECONOMY. The assertions about the Israeli economy in the comment below probably reflect the lack of coverage of the Israeli private sector achievements by the media. As well as this mummified media’s bias. They are wrong. We just don’t hear much about Israel’s economy. The information can be Googled. I’ve covered it in recent columns, so … search the Mercer archives.

Although Israel’s economy is by no means ideal, it is not much different from Western Europe’s Third-Way, mixed economies, with a respectable per capita GDP. Warren Buffet has invested billions in the private sector there, with good returns.

Israel’s high-tech industry has been on the cutting edge for ages. We Americans (including CNN’s Zomby Zakaria, who knows nothing about “innovation”) like to pretend we’ve invent everything we successfully market. Some of us do. But many times, small companies in Israel (and Asia) do the work, and sell off to big, lazy American companies.

For example, who does our reader think invented Microsoft’s “Kinect,” which is in the Guinness Book of Records as the “Fastest-Selling Consumer Electronics Device” ever? A tiny Israeli outfit called Primesense. (I once watched in horror as one American tot, clearly retarded, pranced in front of this TV-operated invention like an epileptic having a petit mal seizure. This, when my (now-grown) girl would have been building Lego, painting, reading, or playing outside. But the American Idicoracy rising is another issue entirely.)

I am affiliated with the Jerusalem Institute for Market Studies. Those who’re interested in tracking the liberalization of Israel’s economy will get a good idea by following JIMS’ remarkable work in Jerusalem.

This is an old column, but still relevant:

True, Israel’s founding fathers were socialists (although there’s something to be said for voluntary forms of socialism like the kibbutz, in contrast to politically imposed socialism). Born of a collectivist political philosophy, Israel has been progressing, albeit slowly, toward greater economic freedom (as America regresses). Trade liberalization, financial market reforms, increased privatization and decreased regulation have been part of this historical retreat from socialism. But the steady abolition of state subsidies and the enhancement of competition supported by Sharon’s Thatcherite Finance Minister (Bibi Netanyahu) cannot easily offset the effects of endemic violence. Coupled with the slowdown in the U.S. economy, terrorism is one of the main reasons for slumps in the Israeli economy.

UPDATED: The Animal (Spirits) Move Chairman Ben

Debt, Economy, Federal Reserve Bank, Inflation, Political Economy, The State

John Maynard Keynes wrote impenetrable prose. Likewise, Ben S. Bernanke speaks it. Obscurantism typified Bernanke’s address at the International Monetary Conference, Atlanta, Georgia. The “animal spirits” are lurking everywhere here. See if you can spot them.

UPDATED (June 8): John Maynard Keynes, “the commie who controls economies from the grave,” is alive and well in Fed Chairman Ben’s voodoo economics:

BEN: “[T]he ability and willingness of households to spend will be an important determinant of the pace at which the economy expands in coming quarters.”

“Spooky dude” Keynes, and his acolytes, honestly believed that the fickle consumer’s biorhythms control the economy. If the consumer is spooked, “the economy” gets that way too.

BEN: “[H]ouseholds are facing some significant headwinds, including increases in food and energy prices, declining home values, continued tightness in some credit markets, and still-high unemployment, all of which have taken a toll on consumer confidence.”

The Keynesian mixes cause and effect liberally. After all, the average man hasn’t a hope in hell of grasping the exclusive knowledge and magic formulas to which only Voodoo economists are privy. What Ben fails to mention is this: He is pumping vast amounts of paper, non-stop, into America’s phony economy. With every infusion of fake money, as Austrian economists have warned, the dollar drops like a stone. Assets will continue to devalue. Saving will be difficult; retirement near impossible. Prices will soar, and the currency will eventually collapse (hyperinflation).

Before you blame Obama, the Republikeynsians began this spiral in earnest.

Have at it.

UPDATED: Economic Apocalypse Now

America, Constitution, Debt, Democrats, Economy, Propaganda, Republicans, Ron Paul

The following is from “Economic Apocalypse Now,” my latest WND.COM column:

“… On reflection, the U.S. Treasury takes in enough loot to pay down the interest on the debt as well as a portion of the principal. Matching federal spending with federal revenue: what a concept! And what a tonic to our moribund economy that would be!

To the soul of the subject: The engorged organisms (Anthony D. Weiner is a sample) that currently control the economy from D.C. can discharge their responsibility to creditors without authorizing more borrowing. To do so, however, they will have to cease their many unconstitutional endeavors and break the promiscuous promises they’ve made to certain voters at the expense of the vassals, out of whose hides these ‘promises’ are carved.

As it stands, Republicans – and a few Democrats, one of whom has even cosponsored an amendment to cap federal spending – have done no more than perform a budgetary Bonnie and Clyde: If Democrats want to continue the heist and run deficits and debts to eternity, they will need to promise – “nudge-nudge, nudge-nudge; know what I mean? know what I mean?” – budget cuts, preferably in the trillions. Or introduce, not necessarily pass, a balanced-budget amendment….”

Read more: “Economic Apocalypse Now.”

My new book, Into the Cannibal’s Pot: Lessons for America from Post-Apartheid South Africa, is now available from Amazon. A Kindle version should be on offer by next week.

UPDATE (June 5): Rand Paul:

“On the Democrat side, we have a proposal to cut about $5 billion to $6 billion for the rest of the year. To put that in perspective, we borrow $4 billion a day. So the other side is offering up cuts equal to one day’s borrowing.…Now, on our side of the aisle, I think we have done more, the cuts are more significant, but they also pale in comparison to the problem. If we were to adopt the president’s approach, we would have a $1.65 trillion deficit in one year. If we were to adopt our approach, we’re going to have a $1.55 trillion deficit in one year. I think both approaches do not significantly alter or delay the crisis that’s coming.…I recently proposed $500 billion in cuts, and when I went home and spoke to the people of my state, spoke to those from the Tea Party, they said $500 billion is not enough. And they’re right. $500 billion is a third of one year’s problem. Up here that’s way too bold, but it’s not even enough.” —Sen. Rand Paul (R-Ky.) on the Senate floor, March 9, 2011

Pay attention to how the same self-anointed policemen of libertarianism—the tinny ideologues who’ve never reflected authentically American libertarianism—have taken it upon themselves to purge Rand Paul.

On the positive side, it seems like Beltway libertarians such as the author of this fair-minded piece have learned from the mistake they made when they reflexively panned Rand’s father, Ron Paul.

Cain Un-Able

Economy, Federal Reserve Bank, Israeli-Palestinian Conflict, Middle East, Political Economy, Republicans

What a great title from NPR: “Herman Cain Wasn’t Able On Palestinian Right Of Return Question.” (That is if you know the Hebrew Bible.) It captures this Republican presidential contender’s Palinesque lack of command of basic facts, in general, and in the dispute between Israel and the Palestinians, in particular. The man is not only clueless, but perfectly comfortable in holding court on an issue about which he knows nothing. The last quality is way worse than the first. Check Cain’s insertion of the “compassionate” adjective at the end, vis-a-vis Israel. You can win elections in America armed with a fatuous vocabulary that includes words like “hope, change, compassion, dreams.”

Fox News Sunday’s host Chris Wallace: Where do you stand on the right of return?

CAIN: The right of return? (Pause) The right of return? (Pause)

WALLACE: The Palestinian right of return.

CAIN: That is something that should be negotiated. That is something that should be negotiated.

WALLACE: Do you think the Palestinian refugees, the people who were kicked out of the land in 1948, should be able or should have any right to return to Israeli land?

CAIN: Yes. But under — but not under Palestinian conditions. Yes. They should have a right to come back if that is a decision that Israel wants to make.

Back to — it’s up to Israel to determine the things they will accept. Prime Minister Benjamin Netanyahu made it real clear in his statement following the statement that President Obama made. They are wiling to make some concessions. They are willing to give on a lot of things. They are willing to be compassionate.

[SNIP]

I “Liked” Vox Day’s evisceration of the Republicans’ token racial candidate’s economics:

“He is not even close to being a genuine conservative on the single most important issue presently facing the nation. Indeed, both his economic philosophy and his employment record are quite literally Communist. In the fifth of the “10 Planks” of the Communist Manifesto, Karl Marx demanded “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.” In the United States, credit has been centralized in an exclusive government monopoly granted to the Federal Reserve; Mr. Cain was the deputy chairman of the Federal Reserve Bank of Kansas City from 1992-1994 and the chairman from 1995-1996.

MORE.