Tag Archives: freedom

National Security Teams

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USMC General Joseph Dunford, in a Senate confirmation hearing concerning his nomination as our new Joint Chiefs of Staff Chairman, had this to say about threats to our national security.

My assessment today…is that Russia presents the greatest threat to our national security.

So if you want to talk about a nation that could pose an existential threat to the United States, I’d have to point to Russia.

In Russia we have a nuclear power. We have one that not only has the capability to violate the sovereignty of our allies and to do things that are inconsistent with our national interests, but they’re in the process of doing so.

So if you want to talk about a nation that could pose an existential threat to the United States, I’d have to point to Russia. And if you look at their behavior, it’s nothing short of alarming[.]

To which President Barack Obama responded through his Press Secretary Josh Earnest:

Certainly, General Dunford is somebody who has spent a lot of time thinking about these issues and has his own view, but I think that he would be the first to admit that that reflects his own view and doesn’t necessarily reflect the consensus analysis of the President’s national security team[.]

What an alarming thing to say about his own national security team.

Oxen and Gorings

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Howard Kurtz is upset about some (Republican) politicians pushing back on press foolishness. He spent much of his column at the link writing about Republican candidates objecting to the press’ hyping of manufactured problems (Rubio’s traffic tickets, Christie’s bridge problems, and so on) and decrying the candidates for spending so much time acting like their oxen were getting stabbed. Then Kurtz made this remarkable remark:

[A]t some point candidates have to figure out how to use the press to sell their message, rather than just complaining.

Because if the candidates bypass the press, rather than “figure out how to use the press,” the press wouldn’t have much to do.

Alternatively, the press is used to being used by the Left, what’s wrong with those Republicans?

Never mind that the legitimate role for what used to be the press is to be independent, objective observers and reporters and not to be “used” for political purposes at all.

Whose ox is being gored, really?

Justice Anthony Kennedy’s Free Speech

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Not directly, because this Oregon law predates Kennedy’s Obergefell ruling, but this is the inevitable outcome of his ruling on free speech.

Aaron and Melissa Klein, bakers who refused to make a cake for a same-sex wedding, lost in an Oregon court and have been ordered to pay $135,000 in “emotional damages” to the couple for whom they refused the baking. Administrative Law Judge Alan McCullough, who found for the victimhood couple, ordered the fine, but nothing further.

However, Brad Avakian, Oregon’s Labor Commissioner and Политический Руководитель, and for whom this Administrative Judge works, overruled the omission. On hearing that the Kleins had assured Oregonians in an interview with the Family Research Council that they intended to pursue the matter, he ordered them to speak no further. He gagged them.

So much for freedom of speech in Oregon. So much for freedom of religion in Oregon. Look for this sort of thing to accelerate in the wake of Kennedy’s ruling.

People’s Republic of China’s Stock Market Drop

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The PRC’s Shanghai Composite Index, which is an index of the stocks that trade on that country’s major stock exchange, the Shanghai Stock Exchange, has fallen by some 28% in the last week. This is the second time since 2007 that this index has fallen this far (in 2007 it dropped by roughly 2/3 over the course of 13 months beginning in October 2007). In response, the PRC has decided to close the market to IPOs until the central planners in Beijing decide conditions are suitable for IPOs.

This central planning foolishness got me wondering. How big a deal is the Shanghai Stock Exchange for the PRC’s economy?

The total value of the PRC’s stock market was around $4.2 trillion in 2014, per Bloomberg Business. The PRC’s Purchasing Power Parity GDP for 2014 was around $19 trillion. Thus, the value traded in its markets was roughly 22% of GDP.

In contrast, the dollar volume on the New York Stock Exchange last Thursday (2 Jul) was some $63.5 million. Expanding that (very naively) to a trading year of 220 days during which stocks are traded out of a 365-day year (weekends and holidays, after all), the annual dollar volume for the NYSE runs to a skosh under $14 trillion. The US PPP GDP for 2014 was $17.7 trillion. The value of the NYSE’s stock trading was a bit under 80% of our GDP.

It’s certainly true that 22% of GDP or the raw value of $4.2 trillion are hefty numbers. But at only 22%, the central planners, in addition to chasing chimeras with their assumption they actually can control in any significant degree any economy, are chasing a relatively minor chimera with their IPO moves. But, then, like central planners everywhere, they think they Know Better than mere investors. Even when the Know Betters are monstrously wrong.

They Disagreed with Me!?

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“[Juncker] said we were ready to front-load EU funds at the disposal of Greece for the future and the Greek government didn’t take the offer, which convinced them that [the Greeks] weren’t interested in an agreement and it was ideological,” an MEP who was in the room told Politico after the meeting.

How dare they not immediately take our deal!? How dare they put patriotism against the wishes of their creditors!?

“He said, ‘We were so close, in fact, we were so close that it was just €60 million that we were arguing over.”

Then, Mr Juncker, why didn’t you cede the €60 million point, if it was such a trivial thing?

Even The Washington Post is looking at this with clearer eyes.