| View this email online if it doesn't display correctly |
| | Tavakoli Structured
Finance, Inc. |
| | "Of
course, there is still much work to be done. That means honestly confronting
the crisis of Islamic extremism and the Islamists and Islamic terror of all
kinds." -- President Trump in Riyadh
"Where are you headed, Europe? Rise from your knees
and from your lethargy, or you will be crying over your children every
day." -- Polish Prime Minister Beata Szydlo
|
| | Why Standing Up Matters
It’s interesting that North Korea’s foreign ministry is trying to spin
the Otto Warmbier public relations disaster by blaming Obama. (It’s true, but it’s not the entire story.)
When the USA backs up its citizens, those in other countries ask
themselves why their own governments do not value their citizens in the same
way. In my opinion, ideological subversives, who claim Warmbier got what he deserved, have no business teaching at taxpayer funded universities.
“The North's foreign
ministry spokesman also said in comments carried by the official KCNA agency
that Warmbier was ‘a victim of the policy of strategic patience’ of former U.S.
President Barack Obama whose government never requested his release.” [Emphasis added.]
Subversion
Victor Davis Hanson wrote a thorough review of attempts to subvert President Trump's administration. Read "The Architecture of Regime Change." (h/t WJM). |
| USA: Great People, Great Place to Live
You may recall that Hillary Clinton lost an election and
then screamed misogyny, fat-shaming, Islamophobia,
anti-immigrant-isolationists, deplorables, blah, blah. It couldn’t be that her dishonest
and socialist platform belongs in the Museum of Bad Ideas.
Yesterday, a young, fit, charismatic male Democrat, with
tens of millions in campaign contributions enabling him to outspend his opposition
by seven to one, lost his bid for a seat in the House of Representatives. He
lost in Georgia to Karen Handel, a plumpish middle-aged woman. She’s competent,
but not the most charismatic person one will ever meet.
Southerners, who are often stereotyped by the left as “good-old-boys,”
voted for Karen Handel. There goes the misogyny claim.
What about immigrants? Well, I married a legal one. I hired
a Venezuelan and a Pakistani (Muslim, but not an Islamist) when I headed up risk management for Bank One (now
JPMorgan Chase). Both were here legally, of course, and both assimilated and
married U.S. citizens and are raising families. None of us wants to admit illegal aliens.
I’m sometimes asked why I didn’t change my married Iranian name
back to my maiden name (a hassle, and my maiden name was more difficult). There
was no need to change my name, because Americans aren’t “Islamophobes” and don't care about my last name. But we
don’t like criminals or terrorists, and we are annoyed with politicians to seem
to be enabling and protecting them for the sake of ideological subversion.
|
| London
Terrorism has changed London. The anti-assimilation mayor “can’t”
track returning ISIS fighters and can’t keep citizens, Muslim or not, safe. Yesterday, a man plowed a van into Muslims outside a mosque; one man was killed, eleven more were injured.
(In Iran, chaos escalated and ended in an Islamic Republic. In the UK, let's hope it ends in a return to enforcement of British law.)
London cancelled “plans for the Wonder Woman premiere and junket activities.” Due
to recent Islamic terrorism.
|
| | Ten Years After the Global Financial Crisis?
Sunday reading: "Ten years since the global financial crisis,
world still suffers debt overhang."
The Marketplace Speaks
I saw the enjoyable and fun new Wonder Woman yesterday. (My date loved it, too. He especially liked
the island of beautiful buff women.) As we were exiting the theater, I asked
some of the young women what they thought if it. Some were seeing it for the second
time. Yes, it’s fiction, and if Wonder Woman, daughter of Zeus, didn't have magical powers, the average Spartan would clean her clock. But a sound mind
and sound body is still the ideal—or so box office numbers suggest.
This is the “Muslim Ban” We Should Worry About
Wonder Woman star Gal Gadot is Israeli and the movie has
been banned
in Lebanon, because the lead is Israeli. Other OIC countries are piling on.
The Left is largely silent about this discrimination, because it doesn’t fit
their subversive narrative. |
| | Churchill
Churchill has been in theaters since June 2. I plan to see it soon. Audiences so far have given it a high rating of 89%.
One of my thoughtful Liar's Poker classmates sent me this commentary, "Incitement to Violence." It's a recount of how the Democratic Party has stirred up its base with calls for radical action. Almost all of the political violence on campuses and streets has come from the Left. (Thank you, WJM!)
Why is this type of rhetoric and violence of paramount importance to address? Here's my take.
|
| | Terrorism is Political Violence
Congress was blasé about terrorism against constituents. (There are so many of them!) Today Congress is paying attention, because they cannot deny that terrorism is political violence. It is all about regime change, and stopping it is one of the reasons people voted for President Trump.
Why did the Democratic Party turn so far left that it is trying to delegitimize our election and formed a strange merger with Islamists who oppose constitutionally recognized rights such as equality for women? (No "safe spaces" for women. Let those "transgenders" with male equipment into women's locker rooms, you horrible bigoted women! Don't even think about using "safe space" rhetoric against us!) Why is the Democrats' message so incoherent?
The message of the Democratic Party is coherent if one considers that it is all about ideological subversion and disrupting society so that people cannot think straight and defend themselves.
The June 14 shooting was about terrorism, not gun control; the far-left terrorist could have just as easily used a car or a truck. The Second Amendment recognizes the right to bear arms; it exists to allow us to protect the Republic.
This is what Congressman Mike Bishop (Michigan R.) who was at the scene said about yesterday's shooting:
“‘The
only reason why any of us walked out of this thing, by the grace of God,
one of the folks here (security detail traveling with Scalise) had a
weapon to fire back and give us a moment to find cover. We were inside the
backstop and if we didn’t have that cover by a brave person who stood up
and took a shot themselves, we would not have gotten out of there and every
one of us would have been hit — every single one of us,’ said Bishop.” |
| | Part 2 - The Department of Homeland "Security"
The Obama administration crippled U.S. intelligence networks and destroyed valuable data. Those of you versed in data analysis know that destroying even one node of data may damage your ability to detect threats. (More on this in a future newsletter.) Philip Haney, a 15 year veteran of the Department of Homeland Security, explained ("DHS ordered me to scrub records of Muslims with terrorist ties." via The Hill, Feb 5, 2016):
"Just before that Christmas Day attack, in early November 2009, I was
ordered by my superiors at the Department of Homeland Security to delete
or modify several hundred records of individuals tied to designated
Islamist terror groups like Hamas from the important federal database,
the Treasury Enforcement Communications System (TECS). These types of
records are the basis for any ability to “connect dots.” Every day, DHS
Customs and Border Protection officers watch entering and exiting many
individuals associated with known terrorist affiliations, then look for
patterns. Enforcing a political scrubbing of records of Muslims greatly
affected our ability to do that. Even worse, going forward, my
colleagues and I were prohibited from entering pertinent information
into the database." |
| | Top Flight Intelligence Briefing
Please listen for six minutes starting at @18:55 (I've set it there) to former intelligence officer Stephen Coughlin explain the Organization of the Islamic Conference's (OIC) position on terrorism. According to the 57 Muslim member countries, terrorism is killing a Muslim without right. Are you a Muslim?
You may recall Stephen Coughlin did not have his contract renewed
after an Islamist complained about his courses, even though everything was factual and contextually correct and approved by the chain of command.
In other words, the FBI, DHS, and other government organizations have an infiltration problem, specifically members of the Muslim Brotherhood and Islamists. The scope of this problem must be defined and addressed. New officials in President Trump's administration must do a lot of housecleaning.
“In 2008, Coughlin – an attorney with an expertise in
international law and a Major in the U.S. Army (reserves) specializing in
intelligence and strategic communications – was called to the Pentagon after
9/11 and worked as a contractor for the Directorate for Intelligence at
the Pentagon under the Chairman of the Joint Chiefs General Peter Pace (USMC)
as the Islamic Law expert for the Department of Defense.”
“A muslim named Hesham Islam, a
senior advisor to then Deputy Secretary of Defense Gordon England, worked behind the scenes to ensure Mr. Coughlin’s
contract was not renewed because his message “offended” muslims (read: Jihadis
in suits) like Hesham Islam on the inside.”
“And what was Coughlin’s
message? That in order to create strategies for victory against our
Islamic enemy we must begin all analysis with who the enemy is and why the
enemy says he fights us. In doing so, we would actually focus on sharia
(Islamic Law) as the basis for why the enemy acts, and realize Al Qaeda and
ISIS are correctly quoting Islamic Law in furtherance of their actions.” |
| | Winning Week! (June 11, 2017)
Most of the nation watched former FBI Director "Leaker" Comey disgrace himself and completely vindicate President Trump. Comey admitted leaking confidential, perhaps classified, government documents for political reasons. The nation now wonders whether Comey leaked all along. What else did he leak? Was he part of "unmasking and leaking" crimes during the Obama Administration? That's the real threat to our Republic.
Meanwhile, POTUS was busy nominating a slate of conservative Federal Judges. President Trump will likely nominate more Supreme Court Justices during his time in office and more than one hundred lower court judges.
London Thoughts
They talked about the diversity of the victims on London Bridge, but not the lack of diversity in the religion of the terrorists.
Deep State Propaganda
Tobias was at it again. He wrote that not many people have died from terrorism compared to other stuff, so what's the big deal?
Here's the big deal. Islamists have successfully used terrorism to undermine and overthrow secular governments. That's how Iran ended up with sharia law with Islamists' boots on their necks. Tobias is part of the Deep State pushing anti-USA narratives ("Russia," terrorism-isn't-such-a-big-deal, streams of Fake News) to undermine our newly elected President. The Deep State had a very bad week.
Remember When We Were Fun?
Remember when we used to exercise our free speech to mock Islamists? Here's a bit of fun from 1979, before our "leaders" let Islamists use unconstitutional de facto blasphemy laws against us. Let's re-grow our spines.
|
| Taqiyya Time!
Anyone can play this exciting new game show, Taqiayya Time! Click here's to see how it's played. (Alternate instructions for men: Be clean-cut and wear an expensive tailored suit. Rolex is optional.)
|
| | Is "Russia" Drama About Justice Kennedy's Retirement?
Democrats and RINOs are weeping bitter tears today, because contrary to Fake News reports, President Trump was never part of the "Russia" investigation. Why did they so ardently hope the opposite was true and that there would be grounds for impeachment? Why did MSM talk about it over and over?
Think about what you haven't heard over and over from mainstream media. Do you recall hearing the important news that Justice Anthony Kennedy is retiring at the end of the month? At least that's the scuttlebutt.
If Justice Kennedy retires, then in addition to President Trump having picked Justice Neil Gorsuch, he'll soon get to nominate another Supreme Court Justice.
|
| | My Letter in the July 5, Financial Times
My letter in today's Financial Times supports the U.S. withdrawal from the Paris accord. The link allows you to read the text at my web site without a subscription.
|
| | Defending Rights v.
Defending Messages (Corrected)
The Constitution recognizes our right to free speech. When you think back to
your small childhood, you may have had been grounded, or faced other
punishment, for sassing a parent. Your parent wasn't violating your right to
free speech. You exercised it. After that, your parent introduced you to civilization.
If you forgot your lesson—humans tend to forget—and slandered a parent,
you might have faced a more creative introduction to civilization. It wouldn't have
been fun, but your adulthood would be a lot less fun, if you were sued for
slander.
Those are just two examples of rights and consequences of free speech. Most Americans
grew up prepared to defend the constitutionally recognized right to free
speech. But no one is obligated to defend or support the message, much less
applaud it. Speech is often designed to provoke thought and vigorous debate.
Ill-considered speech may get you shunned or sued. You may have to defend what
you said. That's your job (or your lawyer's job), not the job of your fellow
citizens. Your fellow citizens, while prepared to defend your right to free
speech, may be busy rebutting your message.
Journalism or "Journalism"?
Journalists can protect their sources--assuming they have sources and aren't
just making stuff up as New York Times reporter Jason Blair was alleged to
have done. He was fired for alleged journalistic fraud,
"widespread fabrication and plagiarism." He wasn't alone.
There are many famous incidents of
journalists making up stories before facing disgrace.
The Boston Globe's Mike Barnicle was sued for libeling Alan Dershowitz.
Fox News's Carl Cameron had to apologize to John Kerry.
AP's Christopher Newton was fired after making up sources for dozens of
stories.
The New Republic fired Stephen Glass for making up stories.
USA Today fired Jack Kelly who collaborated with a translator to file
false stories about the pursuit of Osama bin Laden. He even won a Pulitzer
Prize before it was discovered.
The Boston Globe's Patricia Smith made up characters.
The Washington Post's Janet Cooke won a Pulitzer Prize for a made up
story about a non-existent eight year-old drug addict.
In 1921, The New York World's Louis Seibold won a Pulitzer Prize for a
made up an interview with then President Woodrow Wilson, a Democrat who served
as the 28th President from 1913-1921. But the President was suffering the after-effects
of a stroke and didn't participate. First Lady Edith Wilson and physician
Admiral Cary Grayson collaborated with Seibold on the fake story. She had a
powerful motive. Third terms for presidents were still permitted, and she wanted Sick Woodrow to
run for a third term. (He did not run for a third term and died of another stroke in 1924.)
Woodrow Wilson is often quoted for a quip he made when he was still healthy:
"I not only use all the brains that I have, but all that I can
borrow."
Diligent journalists seek on-the-record reliable named sources. If a journalist
uses unnamed sources, he will probably want reliable corroboration. Hard
evidence is always a plus. Even named sources may prove unreliable. If the
reportage isn't solid, a journalist may lose credibility. Then the journalist's
editor may not trust him anymore or pay him anymore.
Otherwise readers (or
viewers as the case may be) may not trust the news outlet anymore.
Journalists
shouldn't play the "free-speech victim" after sloppy reportage, they
should admit they could have done better, and next time, do better. |
| |
Europe's Survivors
The only country in Europe that doesn’t seem to be the butt
of terrorists’ “jokes” is Poland (and possibly Hungary). Prime Minister Beata Szydlo demonstrates leadership:
“We are not going to take part in the madness of the
Brussel elite. We want to help people, not the political elites. I have
a courage to say, and I have a courage to ask, all European political
elites a question: Where are you headed, Europe? Rise from your knees
and from your lethargy, or you will be crying over your children every
day."
“If you cannot see this, if you cannot see that today
terrorist danger is a fact that can hurt every country in Europe and you
think that Poland should not defend itself, you are going hand in hand
with those who point this weapon against Europe; against all of us."
“And it needs to be told clearly and directly: This is an attack on
Europe, on our culture, our tradition. Why am I talking about that? That
is a good question. Because all of us in this room have to answer the
question, but also all people in Europe have to answer the question: Do
we want politicians that claim that we have to get used to attacks and
who describe terrorist attacks as ‘incidents,’ or do we want strong
politicians that can see a danger and can fight against it efficiently?” |
| |
Debt pile-up in US car market sparks subprime fear
by Ben McLannahan
The Financial Times - May 29, 2017
Just as with mortgages, the car loan business has grown
rapidly. Total auto loans outstanding came to $1.17tn at the end of the first
quarter of this year, according to the New York Federal Reserve, up almost 70
per cent since a post-crisis trough in 2010. That has helped push total
household debt to $12.7tn, surpassing the 2008 peak.
But now there are signs that consumers have had about as
much as they can take after eight years of weak economic expansion.
“Here we are again,” says Janet Tavakoli, president of
Tavakoli Structured Finance, a Chicago-based consulting firm. Car loans are a
smaller market than mortgages, she notes, which total about $9tn. But they
could still do a lot of damage if consumers keep missing payments.
The share of auto debt more than 90 days overdue rose to 2.3
per cent in the first quarter, the highest in six years, according to the New
York Federal Reserve. “It’s a new mini-Big Short,” she says, alluding to
traders who made billions by betting on a housing collapse a decade ago.
End of Excerpt
Read more at The Financial Times
|
|
|
|
|
|
|
|
