Recent Fed Revelations Should Shoo-In Ron Paul

Economy, Federal Reserve Bank, Media, Political Economy, Ron Paul

I wonder if the king of Keynesianism, economist Paul Krugman, is reading the report by his New York Times colleague, BINYAMIN APPELBAUM. The report revolves around the utter ignorance evinced in the 1,200 pages of transcripts of the “conversations between Federal Reserve Chairman Ben Bernanke and his colleagues at the Fed Board of Governors in 2006.” Krug should!

As PBS’s RAY SUAREZ’s reports, “They discussed the changing conditions surrounding an overheated housing market.”

The question really is this: Why, in the presence of a presidential candidate such as Paul, does APPELBAUM and his interlocutor find the complete lack of understanding of the housing crisis among the Board so “striking”? Isn’t it time to admit that one current frontrunner spoke to these facts and to the economic truths they portend?

HERE ARE SOME particularly jarring excerpts from the exchange between these two blind mice of mainstream media, jarring because of the half truths they represent. The man missing from this report is also the reason the minutes are now available:

“… these minutes show us the extent of their misunderstanding of the health of the economy. They show us how badly they misunderstood the way that the economy was working, how badly they misunderestimated the impact of the housing crash.

And it shows, you know, a group of very intelligent, very thoughtful people, you know, talking about the economic situation in the country in a considered way, evaluating what might happen, and having a discussion that, it turns out in retrospect, was far removed from the reality of the actual situation.

… it’s so striking. If you kept reading from that quote, what you would see is that she went on to say, basically, but this is a small problem. The market as a whole is doing fine. The overall quality of these securities is very good. I’m not worried about the housing market.

In fact, at one point, she said that if there was a mild correction in housing, it would benefit the economy by moving resources to healthier sectors of the economy. You’re right. They saw it. They saw that housing was crashing. They joked about the problems that home builders were having in selling homes

…To be fair, a lot of other economists at the same time were talking about blue skies, soft landing, moderation in the coming years. It wasn’t like there were just a bunch of clods sitting around this table, and everybody else could see it, right?

MORE.

UPDATE II: ANC Centenary Celebrations Kick Off in … America (Theron The Twit)

Africa, Celebrity, Hollywood, Propaganda, Pseudo-history, Race, South-Africa, Terrorism

PBS is celebrating: “This week, the African National Congress, South Africa’s ruling political party, marked its 100th anniversary.” Drop the Newspeak. The ANC heads a dominant-party state. Not quite a one-party state, but almost.

To kick off the fun, I watched a rather well-produced, utterly one-sided, propagandist “documentary” yesterday. “Have You Heard From Johannesburg” is about the so-called Struggle. The behind-the-scenes reality popped into my head when watching the famously “exiled South Africans,” (like Oliver Tambo) suited up, and giving ponderous interviews:

“… There was certainly precious little that would have dampened Joseph Lelyveld’s enthusiasm for ‘The Struggle.’ But when the former (aforementioned) New York Times editor went looking for his exiled ANC heroes all over Africa, he found nothing but monosyllabic, apathetic, oft-inebriated men whom he desperately tried to rouse with revolutionary rhetoric.” (Page 143, Into the Cannibal’s Pot.)

Myth-making aside, the ANC’s manufactured heroes have nothing on the ascetic, self-sacrificing Salafis who man al-Qaeda (and who do not rely on European groupies for sustenance).

UPDATED I: “AFRICAN NATIONAL CORRUPTION.” A LOT TO CELEBRATE. DURBAN. I WOULD NOT recognize it today. Durban Bay is dying, environmentally.

UPDATE II: “Be a man who is not afraid to know his HIV status” broadcasts a billboard in the CBD of the once-magnificent city of Johannesburg. The image attached to the ad? A white man. HIV is almost non-existent, statistically, among whites. Such equal opportunity idiocy reminds me of that useless idiot, actress Charlize Theron, who, during a recent interview with another member of the idiocracy, Piers Morgan, hinted that South Africans should be disarmed. Her campaign against rape in SA was as vague, if not as dangerous. In addition to being a pretentious, rather poor actress, Theron is a major hypocrite: I believe her mother shot her father, all in a “good” cause, of course.

The image of your prototypical HIV carriers is at the 3:27 minute mark:

In my book I flesh out the facts about the Central Business District; what it looks like today—the JHB Stock Exchange has been forced to migrate to the suburbs, and businesses are shuttered—as compared to the time when I used to walk to work (it was in the Southern Life Building) from the bus station. I lived up the road in the once vibrant, humming, safe Hillbrow, where I used to stroll at night. A clip of Hillbrow today is below.

Have you ever heard of the hijacking of a … building? It’s a new concept. Of course, the woman in the clip is mouthing the allowable left-liberal platitudes, with her reference to the divinity “Madiba” (Mandela’s African honorific, and an adopted affectation among liberals). “Madiba” would not wish fear to replace his magnificent legacy. The old idiot interviewed seems to think that fear anchored in a fearful reality is a really bad thing. I’ve heard this pearl of wisdom repeated among many American liberals. Living life stupidly and fearlessly seems to be a great virtue.

Paul Financial Portfolio

Business, Debt, Economy, Federal Reserve Bank, Ron Paul

OF COURSE RON PAUL IS INTO METAL BIG TIME. Naturally, Austrians in economics will be gold bugs and/or general metalheads.

It should be no surprise that, “Twenty-one percent of [Ron Paul’s] $2.4 to $5.5 million was in real estate, 14 percent in cash. He owns no bonds. Only 0.1 percent is invested in stocks, and Paul bought these ‘short,’ betting the price will plunge. Every other nickel is sunk into gold and silver mining companies.”

“This portfolio,” said [financial analyst William Bernstein], “is a half step away from a cellar-full of canned goods and 9-millimeter rounds.” [Dah!]
“You can say this for Ron Paul,” conceded [the Wall Street Journal]. “In investing as in politics, (Paul) has the courage of his convictions.”

MORE.

UPDATE II: Pat Buchanan And MSNBC’s Pygmy (Like Snakes Crawling Out of Hibernation)

Christianity, Democracy, Journalism, Left-Liberalism And Progressivisim, Media, Multiculturalism, Nationhood, Paleoconservatism, Political Correctness, Propaganda, Race, Racism, South-Africa

“Pat Buchanan and MSNBC’s Pygmy” is my latest WND.COM column. Here’s an excerpt:

“The ideas he put forth aren’t really appropriate for national dialogue, much less the dialogue on MSNBC.” So decreed MSNBC president Phil Griffin about Patrick J. Buchanan’s grand historical synthesis, “Suicide of a Superpower: Will American Survive to 2025?” Mr. Griffin was justifying the banishment from the network of one of the last authentic conservatives in mainstream media.

If I were not already persona non grata within the mainstream, I would be worried.

In an exchange with this writer, Mr. Buchanan had mentioned that his “18,000-word chapter on ethnonationalism and tribalism and the surge of both throughout the Third World—as well as our own declining world—tracks pretty much with what” I had written in my book, “Into the Cannibal’s Pot: Lessons for America from Post-Apartheid South Africa,” published in May of 2011.

Buchanan’s towering text concludes as follows: “We were one nation. We spoke the same language, learned the same history, celebrated the same heroes, observed the same holy days and holidays … were taught the same truths about right and wrong, good and evil, God and country. We were a people then. That America is gone. Many grieve her passing. Many rejoice. But we are not a people anymore.” (Page 424.)

America, as Mr. Buchanan observes, was eaten away by the acid of the 1960s revolution, “with its repudiation of Christian morality and embrace of secularism and egalitarian ideology.”

South Africa was relatively unaffected by that revolution. It was a staunchly traditional Christian country. Stores closed on Sundays. Television came late to the place but so did pornography and the gay rights movement. In South Africa, the influence of Christianity receded after the 1994 democratic transition.

Whereas “Americans are no longer a people,” by contrast, the Afrikaners, as illustrated in “Into the Cannibal’s Pot,” still linger as a people, clinging to what Barack Obama would indubitably deride as their bibles, their guns and their bigotries.

Dubbed the white tribe of Africa, this organic nation has, however, ceased to exist as a nation-state, dissolved by democratic decree. The sundering of state sovereignty has, in turn, exposed Afrikaners to ethnic cleansing, a familiar feature of democracy a la Africa. …

Read the complete column, “Pat Buchanan and MSNBC’s Pygmy,” on WND.COM.

The book discussed, “Into the Cannibal’s Pot: Lessons for America from Post-Apartheid South Africa,” is available from Amazon. (Don’t forget those reviews; they help this cause.)

A Kindle copy is also on sale.

Still better, shipping is free and prompt if you purchase Into the Cannibal’s Pot from The Publisher.

UPDATE I (Jan. 13): Prof. Ole Jørgen Anfindsen (his Wiki bio is here) has reviewed Into the Cannibal’s Pot on a Norwegian webzine. Prof. Anfindsen blogs at HonestThinking.com. If only I had Norwegian. (Or maybe not .)

UPDATE II: In reply to a reader (snaketrapper) on WND: Had this reader read my book, which references Prof. Hoppe’s “Democracy,” and carries advance praise from him—he might be better informed about this writer’s views and her understanding of the country of her birth, where members of her family, Christian and Jewish, still reside. But, of course, the assorted snakes that have crawled out of hibernation to comment about a book (written by a Jew) that they have in all likelihood not read (or a short column that doesn’t give the right answers to all their questions)—are more interested in asserting uninformed, unfounded, collectivist, irrational biases against the author of “Into the Cannibal’s Pot,” than reporting on the issues addressed in the book. I refer this reader to the section in the book titled, “A strategy for Survival.” I will add this: If I have learned anything from writing this book it is this: Anti-Semitism and collectivism are alive and well.