03.08.10
Posted in Europe, Financial markets, Journalism at 12:47 am by Administrator
This is a tale with several layers. The New York Times published a piece laying a large part of the blame for Greece’s financial crisis on Wall Street credit default swap speculators. I became aware of that through a post at Power Line. Upon reading that, I had one of my own conclusions about finance confirmed:
- the fact that lefty screaming about more “transparency” and regulation in this type of activity is, in the words of Power Line’s John Hindraker, a “big so-what.” Those who lay out their capital for these types of products are not going to do so recklessly. Free markets self-regulate. You don’t make a move without expecting to make some money, and before you make the move, you consider how to minimize the chances that you will lose your tail end.
And I’ve directly linked to a Reuters blog post by Felix Salmon that shows that, since the underlying asset in any CDS instrument is a loan of ostensibly some value, the person expecting a return when the whole chain goes kabust only gets cents on the dollar for his risk of capital.
http://blogs.reuters.com/felix-salmon/2010/03/02/cds-demonization-watch-morgensonmunchau-edition/
The main point of the whole scenario, though, is that leftism is at the root of the whole trouble: unions and radical political parties in Greece and other Europeal nations (and, um, in the United States), and FHer “journalists” in the US trying to throw smokescreens up so as to distract us from that fact.
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02.13.10
Posted in Auto industry, Culture, Diciness of Western civilization's survival prospects, Europe, Food, Human freedom at 4:14 pm by Administrator
In the course of musing on the Audi ad that ran during the Super Bowl, Mark Steyn coins a new term: “Conformo-radicalism.” And, no, it’s not a contradiction.
There’s another ad along the same lines that grates on me to no end. It’s for some butter-substitute product. It starts out showing a throng of fit and beaming Danes sashaying down a Copenhagen street. The voiceover says that Denmark recently banned transfats nationwide. Then the ad sells the product, winding up with a message along the lines of “We’re as smart as those with-it Danes!”
Now it’s hip to piss away your freedom.
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11.03.09
Posted in Europe, Missile defense, Russia at 10:21 pm by Administrator
. . . Russia is pulling this.
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10.13.09
Posted in Europe, Hillary Clinton, Iran, Missile defense, Russia at 2:48 pm by Administrator
Says further Iran sanctions ain’t gonna happen. Also tells the H-word Creature that, now that it will be done on our terms, we’re ready to talk about missiles and missile defense. I cringe to think about how the discussion on Georgia went.
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09.18.09
Posted in Europe, Missile defense, Russia at 7:02 pm by Administrator
. . . tell the tale of some bitter allies. TCM and the H-word Creature sent the worst possible signal to friends and enemies alike.
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09.17.09
Posted in Europe, Russia, State Department cluelessness, World War III at 2:48 pm by Administrator
Several levels to unpack here.
For one thing, it took no small amount of courage for Poland and the Czech Republic to agree to the installation of the interceptors and radar. Clearly Russia was breathing down their necks from one side, but they also had to ruffle some feathers among the sleepier members of the EU.
Russia plays a multileveled role in the network of countries that do not like the United States. It is involved in training and arms deals with Venezuela, it has numerous energy deals with Iran, and, speaking of energy, holds great sway over much of Europe. Things get chilly in Ukraine fast if natural gas doesn’t flow through the pipeline. Medvedev and Putin have made it clear that they will not sign on to any more sanctions against Iran, which makes our State Department’s tough talk look like a lot of puffballs. We can now expect Russia to press for more patty cake instead of serious measures with North Korea now, too.
Speaking of North Korea, let’s remember that it is keeping the sea lanes hot with its grim commerce with Iran, Syria and various terror groups. Remember that ship that was stopped by the Unitede Arab Emirates last month?
No, this is not good at all. TCM is going to press his kumbaya vision all the way to a very bad juncture, it seems to me. There’s not an enemy on the planet that doesn’t take solace from this betrayal of our alies.
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03.30.09
Posted in Culture war heroes, Europe, Free-market Economics, Ideology, Law dhimmitude, Multiculturalism and diversity at 1:41 pm by Administrator
Such is the point of Janet Daley’s column in the London Telegraph this morning. It’s merely a sum-total snapshot of the desires and offerings of free human beings at any moment. As she points out, in addressing the signs she’s seeing at the G-20 protests, capitalism can’t be “overthrown.” There’s no monolithic “it” to overthrow.
Now, a system can be imposed which will cause the free market’s disappearance. We’ve seen that time and again, and we’re seeing it again. And that – and this is Daley’s main point, marks the end of all kinds of freedom, since, without an individual’s freedom regarding his property and money, all ohter liberties are easily obliterated.
This is what sets my teeth on edge about Gordon Brown’s remark, quoted by Daley, that attention must be paid to capitalism’s “values.” Capitalism has no values. You have values. I have values. Gordon Brown has values. There’s wide berth for them to differ, once we get beyond the realm of basic, common legal strictures based on the Ten Commandments, or at least the ones about killing, stealing and lying.
It’s also what sets my teeth on edge about TCM’s recent remark (actually, every time TCM opens his mouth it sets my teeth on edge; a mere glance at a photograph of him gives me digestive turbulence) that it’s a false choice between a “chaotic and unforgiving free market” and “oppressive government.” Well, no, that becomes the choice every time. The choice of the term “chaotic” is noteworthy. It implies that some sort of order ought to be imposed, which leads to some crucial questions: What sort of order? Who will do the imposing?
One can see what TCM means by all of this in the relish with which he and his administration are taking control of Chrysler and GM.
If that’s what he means by forgiveness, I think I’ll forego any.
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03.26.09
Posted in Europe, Ideology, Multiculturalism and diversity at 2:12 am by Administrator
Czech Prime Minister Mirek Topolanek, the current EU president, calls TCM’s economic policies “the road to hell.”
The Czechs have produced some very important statesmen / thinkers since it shed Marxism.
Not everyone in the EU, certainly, or even in the Czech Republic, sees things his way, but a lot of folks are in broad concurrence with his take on the matter.
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Posted in Congress, Europe, Ideology, North Korea at 3:43 am by Administrator
A few days ago, Charles Krauthammer wrote a column on the “kick me” sign TCM has placed on the United States. He spent much of the piece specifically dealing with Russia.
The lettering on that sign has been enlarged and done in unmistakable bright red: the TCM regime is signaling to Russia that we’ll forget the missile shield in Europe for – are you ready for this? - Russia’s “help” with the Iranian nuke crisis.
There is nothing this guy has done since becoming president that isn’t awful and destructive.
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08.15.08
Posted in Education, Europe, North Korea, Sarah Palin at 9:07 pm by Administrator
Russia threatens Poland with nuclear attack.
What I want to know is, is this stuff some kind of big surprise to our intellegence, security and diplomacy functions?
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