tag:blogger.com,1999:blog-3189541591963721222024-03-15T21:12:37.952-04:00Notable and Quotable... in the Classical Liberal tradition"The social system of private property and limited government is the only system that tends to debarbarize all those who have the innate capacity to acquire personal culture."
~Ludwig von MisesKevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.comBlogger5999125tag:blogger.com,1999:blog-318954159196372122.post-62993609580282237902024-03-15T13:09:00.005-04:002024-03-15T17:36:29.124-04:00Charles Schumer on the humanitarian crisis in Gaza and a two-state solutionGaza is experiencing a humanitarian catastrophe. Entire families wiped out, whole neighborhoods reduced to rubble, mass displacement, children suffering. We should not let the complexities of this conflict stop us from stating the plain truth: Palestinian civilians do not deserve to suffer for the sins of Hamas and Israel has a moral obligation to do better. The United States has an obligation to do better. I believe the United States must provide robust humanitarian aid to Gaza and pressure the Israelis to let more of it get through to the people who need it. <div><br /></div><div>Jewish people throughout the centuries have empathized with those who are suffering and who are oppressed because we have known so much of that ourselves. As the Torah teaches us, every human life is precious. Every single innocent life lost, whether Israeli or Palestinian, is a tragedy, as the scripture says, "destroys an entire world." What horrifies so many Jews, especially, is our sense that Israel is falling short of upholding these distinctly Jewish values that we hold so dear. We must be better than our enemies lest we become them.</div><div><br /></div><div>[...]</div><div><br /></div><div>And now, as a result of those inflamed tensions in both Israeli and Palestinian communities, people on all sides of this war are turning away from the two-state solution, including Israel's prime minister, Benjamin Netanyahu, who in recent weeks has said out loud repeatedly what many have long suspected by outright rejecting the idea of Palestinian statehood and sovereignty. As the highest ranking Jewish elected official in our government and as a staunch defender of Israel, I rise today to say unequivocally: this is a grave mistake, for Israel, for Palestinians, for the region and for the world. The only real and sustainable solution to this decades-old conflict is a negotiated two-state solution, a demilitarized Palestinian state living side-by-side with Israel in equal measures of peace, security, prosperity, dignity and mutual recognition.</div><div><br /></div><div>[...] </div><div><br /></div><div>Jews have a human right to their own state just as any other people do, Palestinians included. As I have said, there are also some Israelis who oppose even a two-state solution with a demilitarized Palestinian state because they fear that it might tolerate or be a harbor for further terrorism against the Jewish state. I understand these fears, but the bitter reality is that a single state, controlled by Israel, which they advocate, guarantees certain war forever and further isolation of the Jewish community in the world to the extent that its future would be jeopardized. Let me elaborate. They say the definition on insanity is doing the same thing over and over and expecting a different result. Is Israel were to not only maintain the status quo, but to go beyond that and tighten its control over Gaza and the West Bank, as some in the Netanyahu administration have suggested, in effect creating a de facto single state, then what reasonable expectation can we have that Hamas and their allies will lay down their arms? It would mean constant war. On top of that, Israel moving closer to a single state entirely under its control would further rupture its relationship with the rest of the world, including the United States. Support for Israel has declined worldwide in the last few months, and this trend will only get worse if the Israeli government continues down its current path.</div><div><br /></div><div>~ Sen. Charles Schumer, speech before Senate, March 14, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgcS_Fk1oSM8Q6937OEXSgYULXDxjH_biDQpQqRUaTR54hBXpzwFFR3Vb79A3CMchQ4wf7HBBC2nFfmFKViN-4nn33FUzDaf6KS4QZvX0uMsKexiHUilSW__EQe7AlB7HGNL0DSKtrSVxA7w0We1QiPo97_YXLxH3Q-Lm9ed3720B2VOh0kvEqRVrQAZ_rF" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="720" data-original-width="1280" height="180" src="https://blogger.googleusercontent.com/img/a/AVvXsEgcS_Fk1oSM8Q6937OEXSgYULXDxjH_biDQpQqRUaTR54hBXpzwFFR3Vb79A3CMchQ4wf7HBBC2nFfmFKViN-4nn33FUzDaf6KS4QZvX0uMsKexiHUilSW__EQe7AlB7HGNL0DSKtrSVxA7w0We1QiPo97_YXLxH3Q-Lm9ed3720B2VOh0kvEqRVrQAZ_rF" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-62145669337660082462024-03-15T08:00:00.007-04:002024-03-15T08:00:25.289-04:00The Economist: "You have to marvel at America’s economy"You have to marvel at America’s economy. Not long ago it was widely thought to be on the brink of recession. Instead it ended 2023 nearly 3% larger than 12 months earlier, having enjoyed one of the boomier years of the century so far. And it continues to defy expectations. At the start of this year, economists had been forecasting annualised growth in the first quarter of 1%; that prediction has since doubled. The labour market is in rude health, too. The unemployment rate has been below 4% for 25 consecutive months, the longest such spell in over 50 years. No wonder Uncle Sam is putting the rest of the world to shame. Since the end of 2019 the economy has grown by nearly 8% in real terms, more than twice as fast as the euro zone’s and ten times as quickly as Japan’s. Britain’s has barely grown at all.<div><br /></div><div>~ "<a href="https://www.economist.com/leaders/2024/03/14/americas-extraordinary-economy-keeps-defying-the-pessimists">America’s extraordinary economy keeps defying the pessimists: Both Donald Trump and Joe Biden have ideas that endanger it</a>," <i>The Economist</i>, March 14, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhZr3wiwmkeNTaf2j29OSb1zUM7nWBVz-508vif6g02n3LX4BuNlmiNeleVpHyOABnu9y4a4APO-6Fp92wKyZM6NsObU5jJtqnOeIymdpKzV29ytKDb-42UUHrUMWsqi9csuj5-ZdJz2qlpKKBRMS4ecxrz1BZgcQMtAL0eJIu175IbSIEoi5srsvJAcNFc" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="258" data-original-width="196" height="240" src="https://blogger.googleusercontent.com/img/a/AVvXsEhZr3wiwmkeNTaf2j29OSb1zUM7nWBVz-508vif6g02n3LX4BuNlmiNeleVpHyOABnu9y4a4APO-6Fp92wKyZM6NsObU5jJtqnOeIymdpKzV29ytKDb-42UUHrUMWsqi9csuj5-ZdJz2qlpKKBRMS4ecxrz1BZgcQMtAL0eJIu175IbSIEoi5srsvJAcNFc" width="182" /></a></div><br /><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-47554656477555479672024-03-14T14:11:00.002-04:002024-03-14T14:11:33.611-04:00John Tamny on conservative support for bill to force sale of TikTokContra crybaby conservatives, an app could never destroy the greatest country on earth. On the other hand, the taking of freedom required to ban an app could destroy a country whose greatness is rooted in freedom.<div><br /></div><div>~ John Tamny, <a href="https://twitter.com/johntamny/status/1768286042832933055">tweet</a>, March 14, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEh355JJDHl0TdgiuML8a_LaxrW5xz1UcFneZRwXuRYM0-0ZULocKH4DLuqpnjdzLPLeUHNpDLp_dByJ39QrEBQnd_jKQDTVDizcxFlzWIlDXa8vpHa4qXNu8IoKGn8NJWeyUnw9ejFbJnMRGAMRSwl4eoTMO39qZ_3-GWoK6c4UBOMYEnLMS0PUyOD4J8dv" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="316" data-original-width="983" height="103" src="https://blogger.googleusercontent.com/img/a/AVvXsEh355JJDHl0TdgiuML8a_LaxrW5xz1UcFneZRwXuRYM0-0ZULocKH4DLuqpnjdzLPLeUHNpDLp_dByJ39QrEBQnd_jKQDTVDizcxFlzWIlDXa8vpHa4qXNu8IoKGn8NJWeyUnw9ejFbJnMRGAMRSwl4eoTMO39qZ_3-GWoK6c4UBOMYEnLMS0PUyOD4J8dv" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-22860532992631453192024-03-12T15:31:00.001-04:002024-03-12T15:31:16.582-04:00Doug Casey on the green energy scamBefore the Industrial Revolution, the overwhelmingly major fuel source was wood. After that, we went to coal, which was a big improvement in density of energy and economics. Then, we went to oil, another huge improvement in energy density and economics.<div><br /></div><div>These things happened not because of any government mandates but simply because they made both economic and technological sense. If the market had been left alone, the world would undoubtedly be running on nuclear. Nuclear is unquestionably the safest, cheapest, and cleanest type of mass power generation. This isn’t the time to go into the numerous reasons that’s true. But if nuclear had been left unregulated, we’d already be using small, self-contained, fifth-generation thorium reactors, generating power almost too cheap to meter. The world would already be running on truly clean green electricity.</div><div><br /></div><div>Instead, time, capital, and brainpower have been massively diverted to so-called “ecological” power sources—mainly wind and solar—strictly for ideological reasons. The powers that be want to transition the whole world to phony green energy, like it or not.</div><div><br /></div><div>I’m all for green energy in principle. There’s no question that solar and wind are worthwhile and effective for select applications—generally small, isolated, special locations where conventional fuel is inconvenient or too costly. The efficiency of solar has been tremendously improved over the last few decades, as has wind efficiency. But neither make any sense for mass base-load power in industrial economies.</div><div><br /></div><div>With further technological advances, they may become more economic someday. Perhaps people will eventually put large collectors in high Earth orbit and microwave the power down to the surface. There are all kinds of sci-fi possibilities. But right now, “green” is just a nice word for “stupid,” “ideological,” or “government-sponsored.”</div><div><br /></div><div>Doing things the green way takes power away from the markets, which is where people vote with their dollars. It instead places power in the hands of ideologues and bureaucrats.</div><div><br /></div><div>In brief, wind and solar are being promoted at the very time, nuclear and fossil fuels are being damned. It’s the opposite of what should be happening and a very bad trend from every point of view.</div><div><br /></div><div>Put me down as liking the birds and the bunnies as much as anyone else, but I’m anti-green. Anyway, ecofreaks don’t really care about the birds and the bunnies so much. That’s just a veneer. They actually just hate people and really want them to disappear. At a minimum, they want to control them. And the great global warming/anti-fossil-fuel hysteria is a great way to do it.</div><div><br /></div><div>~ Doug Casey, "<a href="https://www.lewrockwell.com/2024/02/doug-casey/why-the-carbon-hysteria-is-a-huge-threat-to-your-personal-freedom-and-financial-wellbeing-2/">Why the Carbon Hysteria is a Huge Threat to Your Personal Freedom and Financial Wellbeing</a>," <i>International Man</i>, February 15, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEj6GpPYkzDkQUatlc2UCHVtAOfxzexqbWhYvKoA6W8cIhEbhX5Cnh5ZDxcp43pSLFCqR8dmUCVc5lEUR6R9CKxjvGGvWZFsX7xhFaoJ6h_8ZcV-AV2J7r5tBaY1hJ4j-pSCxD7uUlNqxRkggd2Yl3Z3A1yOQNmpCBhu3Ur-uFQVj3Apf5OAc-dgM0q7l2Yh" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="194" data-original-width="259" height="240" src="https://blogger.googleusercontent.com/img/a/AVvXsEj6GpPYkzDkQUatlc2UCHVtAOfxzexqbWhYvKoA6W8cIhEbhX5Cnh5ZDxcp43pSLFCqR8dmUCVc5lEUR6R9CKxjvGGvWZFsX7xhFaoJ6h_8ZcV-AV2J7r5tBaY1hJ4j-pSCxD7uUlNqxRkggd2Yl3Z3A1yOQNmpCBhu3Ur-uFQVj3Apf5OAc-dgM0q7l2Yh" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-66126065275943616582024-03-12T11:16:00.006-04:002024-03-12T14:55:32.834-04:00Rick Rule on natural resource investingIn terms of natural resource investing, you're either going to be a contrarian or you are going to be a victim. There isn't much by way of middle ground. Everybody wants to invest in commodities where the price action has already justified the narrative, but the price action takes the value-added out of the narrative. You have to look for commodities that are in liquidation, where the price is so low that the industry is liquidating <i>and</i> where if the price of the commodity doesn't increase, the commodity will become unavailable to humankind. And finally, humankind needs to need that commodity.<div><br /></div><div>Another way to put that phrase, in terms of the time value of money, is that you need to invest in things that are inevitable, even if they aren't eminent. And you have to need to know the difference between those two words.</div><div><br /></div><div>~ Rick Rule, <a href="https://investorhour.com/episodes/youre-only-ever-a-contrarian-or-a-victim-in-natural-resource-investing">interview</a> with Dan Ferris and McLaughlin, <i>Stansberry Investor Hour</i>, 60:30 mark, March 4, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEj9Njz9nhW6_rXKwM-E0is6Ox-TDC2x8IbAtQH7v6EEtcYhZOxb0BvlG2JtLGPLZ-F4XzFONxbmMqvWK6fLlLv5Z6qXkV3onES2zKcIvrlHM6T4KoOswP6ZKsq3rQaKJzFRq7srp1CAgxMTWjVKWMFa8ZgEz-VlAQNQVZZIMGnWCjPx9dl7sTeG5uBySXal" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="1080" data-original-width="1920" height="180" src="https://blogger.googleusercontent.com/img/a/AVvXsEj9Njz9nhW6_rXKwM-E0is6Ox-TDC2x8IbAtQH7v6EEtcYhZOxb0BvlG2JtLGPLZ-F4XzFONxbmMqvWK6fLlLv5Z6qXkV3onES2zKcIvrlHM6T4KoOswP6ZKsq3rQaKJzFRq7srp1CAgxMTWjVKWMFa8ZgEz-VlAQNQVZZIMGnWCjPx9dl7sTeG5uBySXal" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-21834286646552030082024-03-05T08:27:00.004-05:002024-03-05T08:27:28.408-05:00Lew Rockwell on anarchyIs it possible that we have likewise assumed that the state is inevitable only because we are used to it, and can hardly imagine a world without it? Just as the menial tasks once performed by slaves are now distributed differently among free men, perhaps, as anarchists argue, the functions of the state could be distributed among voluntary agencies.<div><br /></div><div>The Renaissance philosopher Thomas Hobbes thought that anarchy — the “state of nature” — would be “a war of all against all,” making human life “solitary, poor, nasty, brutish, and short.” His solution was the state, which would quell quarrels among men. He didn’t foresee that the state itself might aggravate conflict and make social order far more miserable than anarchy could ever be.<div><br /></div><div>Hobbes’s near-contemporary John Locke offered a more attractive alternative: the limited state, which would have the power to secure men’s natural rights but would lack the power to violate them. But such a state has never existed for long. Once a monopoly of power exists at all, it tends to degenerate into tyranny; anarchists argue that this decline is inevitable, because tyranny is inherent in the very nature of the state.</div></div><div><br /></div><div>~ Lew Rockwell, "<a href="https://www.lewrockwell.com/2024/03/lew-rockwell/the-heroic-joe-sobran/">The Heroic Joe Sobran</a>," <i>LewRockwell.com</i>, March 4, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhpebtAR4cZC89cvoKdT-WrM6WjpRkJgCW_HpwCfbm5Vf4NKO94A-j-6KRoGDLRLv5-iRjuHbuz8DC8yLlFmGvIhkM53RIUDVXuVTJzFcumS3Xjz5XwZ8TcF0BIz-umc3jBRsnnzocm4BywhkIE16iemISr6UyHio06sntSluswmqPPNKEGIuzq8lbi-_ge" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="300" data-original-width="300" height="138" src="https://blogger.googleusercontent.com/img/a/AVvXsEhpebtAR4cZC89cvoKdT-WrM6WjpRkJgCW_HpwCfbm5Vf4NKO94A-j-6KRoGDLRLv5-iRjuHbuz8DC8yLlFmGvIhkM53RIUDVXuVTJzFcumS3Xjz5XwZ8TcF0BIz-umc3jBRsnnzocm4BywhkIE16iemISr6UyHio06sntSluswmqPPNKEGIuzq8lbi-_ge=w138-h138" width="138" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-57955124791062013582024-03-04T15:34:00.003-05:002024-03-04T15:34:19.180-05:00Joe Sobran on government interventionIf you want government to intervene domestically, you’re a liberal. <div>If you want government to intervene overseas, you’re a conservative. </div><div>If you want government to intervene everywhere, you’re a moderate. </div><div>If you don’t want government to intervene anywhere, you’re an extremist.</div><div><br /></div><div>~ Joe Sobran, 1995</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhQr2bxmtCTTOiTtBUsk6-_DBOL7xkDweXJ7YbBvYH25X4a6YjRKayYVEpzS0LSQ4Ikatw9JcobYscLTAcQ7Zkfwc6Blzo7rB-iKDY_ACNd2jyojtfkTeGJPCwszd9D-Lek6_xizVCgsjExaCYdI0zuq5vzO1rSuOa09xuQIZEg5-E-1lrXesICKe6pPTgs" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="1000" data-original-width="664" height="200" src="https://blogger.googleusercontent.com/img/a/AVvXsEhQr2bxmtCTTOiTtBUsk6-_DBOL7xkDweXJ7YbBvYH25X4a6YjRKayYVEpzS0LSQ4Ikatw9JcobYscLTAcQ7Zkfwc6Blzo7rB-iKDY_ACNd2jyojtfkTeGJPCwszd9D-Lek6_xizVCgsjExaCYdI0zuq5vzO1rSuOa09xuQIZEg5-E-1lrXesICKe6pPTgs=w133-h200" width="133" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-25474951961218633002024-03-01T08:41:00.003-05:002024-03-01T08:41:42.092-05:00John Templeton on idealismThe true idealist preaches not class hatred but universal love; not redistribute the wealth but multiply the wealth; not more regulation but more freedom; not security but opportunity. The true idealist is the missionary for individual freedom and competition.<div><br /></div><div>~ John Templeton, January 1961</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiWkDmf9fO9U0kQlrOQ5jp-Rud32G-kBSn39qTxcEEPr-2BqtrsHfh1NAXdOjYYTNwfW-Iq4fmwzQ_sm6DRgN18d66fE9MILEOw96mfYcFrJnDjL9WmuWLWN-7bnzmgxL3pUOmFpnwwihBMjsp-Yid8t74wJHHVbvk2Hok5APrH3YHcEvx0vkzejeFj65LV" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="1100" data-original-width="900" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEiWkDmf9fO9U0kQlrOQ5jp-Rud32G-kBSn39qTxcEEPr-2BqtrsHfh1NAXdOjYYTNwfW-Iq4fmwzQ_sm6DRgN18d66fE9MILEOw96mfYcFrJnDjL9WmuWLWN-7bnzmgxL3pUOmFpnwwihBMjsp-Yid8t74wJHHVbvk2Hok5APrH3YHcEvx0vkzejeFj65LV=w261-h320" width="261" /></a></div><br /><br /></div><div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-83175892216355980982024-02-29T22:24:00.003-05:002024-02-29T22:24:10.985-05:00Doug Casey on collegeThe fact is that college today is not just a gigantic misallocation of four of the most valuable years of your life and a huge amount of money. It’s much worse. In the time he’s not partying at what amounts to a five-star resort, drinking and chasing girls, a student is being actively corrupted and indoctrinated. He’ll emerge with a near-valueless degree, a bunch of bad attitudes, destructive ideas, and a mountain of debt.<div><br /></div><div>~ Doug Casey, "<a href="https://www.lewrockwell.com/2024/02/doug-casey/raising-free-thinking-children-amid-societal-madness/">Raising Free-Thinking Children Amid Societal Madness</a>," <i>International Man</i>, February 29, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhwGsTZ75b2J6UBwnWbKuQOjb1BjRvzG9Fn7CDcw5b-NF9oDiPKwzI8ZplHxumQOUJBk6635_PtaFUpfHdSZmbCjQTjooFF5j4HCd3G-KEDIsIZdE-mAAI7NSexjVPUwqJ4j_wQOH0trUaileGLA2HioTwJ5KMnZA17mbu32OQotbIRaqsy-eIXYtr_mDGL" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="920" data-original-width="736" height="240" src="https://blogger.googleusercontent.com/img/a/AVvXsEhwGsTZ75b2J6UBwnWbKuQOjb1BjRvzG9Fn7CDcw5b-NF9oDiPKwzI8ZplHxumQOUJBk6635_PtaFUpfHdSZmbCjQTjooFF5j4HCd3G-KEDIsIZdE-mAAI7NSexjVPUwqJ4j_wQOH0trUaileGLA2HioTwJ5KMnZA17mbu32OQotbIRaqsy-eIXYtr_mDGL" width="192" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-62092182726818541922024-02-15T11:02:00.005-05:002024-02-15T11:02:47.830-05:00Galileo on scienceIn questions of science, the authority of a thousand is not worth the humble reasoning of a single individual. <div><br /></div><div>~ Galileo Galilei, physicist and astronomer (1564-1642)</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiveD8g95Rhammq7XOzdOlP8XkM0MsWd-5SseBrxU2ul3EEjNAsz-09wUH0VsfYki2FxRAPA-D3lzWio_bkB6G-XOIiUMUSstUAgApGApE2GUf7UPsytiTgfZLqMTcSWEFPmCcf7lHiJiAobMFCs1ujS1OFYGRxAw9OXOhrQIuup1igGYmGiMenbcFYtKCN" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="1524" data-original-width="1200" height="200" src="https://blogger.googleusercontent.com/img/a/AVvXsEiveD8g95Rhammq7XOzdOlP8XkM0MsWd-5SseBrxU2ul3EEjNAsz-09wUH0VsfYki2FxRAPA-D3lzWio_bkB6G-XOIiUMUSstUAgApGApE2GUf7UPsytiTgfZLqMTcSWEFPmCcf7lHiJiAobMFCs1ujS1OFYGRxAw9OXOhrQIuup1igGYmGiMenbcFYtKCN=w158-h200" width="158" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-85000016586225051822024-02-03T12:45:00.002-05:002024-02-03T12:45:41.010-05:00Phil Duffy on the ancient Jewish claim to PalestineIn the final analysis, the Zionists are asking the world, but particularly the United States, to issue them a license to commit genocide. <div><br /></div><div>I believe that the Zionist claim is that God awarded them Palestine. I have seen various versions of this, and would welcome any Zionist to point to their version of the story. It always comes down to this:</div><div><ol style="text-align: left;"><li>The Jews voluntarily left Palestine for greener pastures in Egypt (the story of Joseph).</li><li>At first things worked out but ultimately the Egyptians enslaved the Jews. </li><li>Moses led the Jews out of Egypt and into the desert (Exodus). </li><li>Moses died and was succeeded by Joshua who led the Jews against the Canaanites who had then homesteaded Palestine. </li><li>The Jews massacred the Canaanites and took possession of Palestine.</li></ol>I have some reservations about this account. I don’t think Jesus would have recommended to his fellow Jews that they act similarly during his time on Earth, but I’ll accept the Zionist version, with a question – “Is that all you have as proof that Palestine belongs to you?”</div><div><br /></div><div>The Jewish Diaspora (dispersion) presents a theological challenge for Jews. After 70 AD when the Romans destroyed the Temple, huge numbers of Jews left Judea, leading to the claim by Zionists that they were driven off the land that was legitimately theirs. The claim does not square with history. Zionists are not claiming they have a right to Judea, but to the larger landmass that was occupied by Jews of Judea and the 10 lost tribes of Israel. Those 10 tribes split with the two tribes of Judea after the death of Solomon and have been assimilated into other cultures. Further calling into question the claim that Jews were driven from Judea is that many remained and lived side-by-side with Arabs. Those who left after 70 AD and became a part of the Diaspora were probably only a fraction of the number of Jews already in the Diaspora. A large number already had left Israel to live their lives elsewhere.</div><div><br /></div><div>In summary, most of the Jews who left Israel did so voluntarily, and those who left after 70 AD, although feeling the pressure of having lost to the Romans in an unsuccessful uprising, did so voluntarily.</div><div><br /></div><div>~ Phil Duffy, February 1</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhJKZeWKhiX7bxa8dfhNjFH6yEofD9qPZikK_wD-bxoNNXasKXAvJ1gcMU8zPDDuDdB8BK8ZOZVaYND86bM5db8PtRs6D67SYsagCja6_rzPzoEVf78ma-9URI8NGcfFwdoiz0W5k2KBngmtDjMaRkTz8jKTv2tSxX-I21rCHT6LT4uKi6C46bud4SMjTNK" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="495" data-original-width="880" height="180" src="https://blogger.googleusercontent.com/img/a/AVvXsEhJKZeWKhiX7bxa8dfhNjFH6yEofD9qPZikK_wD-bxoNNXasKXAvJ1gcMU8zPDDuDdB8BK8ZOZVaYND86bM5db8PtRs6D67SYsagCja6_rzPzoEVf78ma-9URI8NGcfFwdoiz0W5k2KBngmtDjMaRkTz8jKTv2tSxX-I21rCHT6LT4uKi6C46bud4SMjTNK" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-40583838133141228092024-01-31T18:13:00.001-05:002024-01-31T18:14:04.214-05:00Hans-Hermann Hoppe on Walter Block's defense of Israel's retaliation for the October 7 Hamas attackGrotesque. If anything, this assessment of Block’s only indicates that he has lost any sense of measure and proportion... [H]is call for total and unrestricted war and the indiscriminate slaughter of innocent civilians is actually the complete and uninhibited rejection and renunciation of the non-aggression principle that constitutes one of the very cornerstones of the Rothbardian system. To believe that Rothbard would have given serious consideration to his <a href="https://www.wsj.com/articles/the-moral-duty-to-destroy-hamas-ba626a41">WSJ piece</a> is simply ridiculous and only indicates that Block’s understanding of Rothbard is not nearly as good as he himself fancies it to be. The Rothbard I knew would have denounced the piece in no uncertain terms as monstrous and considered it an unforgivable aberration and disgrace.<div><br /></div><div>~ Hans-Hermann Hoppe, "<a href="https://www.lewrockwell.com/2024/01/hans-hermann-hoppe/breaking-up-is-hard-to-do-but-sometimes-necessary/">On Open Letter to Walter E. Block</a>," <i>LewRockwell.com</i>, January 31, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgGhN0tJlwGpM012w10FsvhoSs2IRmnIE7mtGYlxlZlXCBtCb4OUAFyyzCm7MNtgKMNHMKS_M8hMpWHuSzG0SDHn_9CVGYpfKVOvk_4BbmeYnnut_SYbAEzC2M_EyTYbB2PSy48-D2FE784xfqpdniNr_E5BFHGBWZdcasN4IyOUfIuEX9RmNwmPanDlb7v" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="1668" data-original-width="1293" height="240" src="https://blogger.googleusercontent.com/img/a/AVvXsEgGhN0tJlwGpM012w10FsvhoSs2IRmnIE7mtGYlxlZlXCBtCb4OUAFyyzCm7MNtgKMNHMKS_M8hMpWHuSzG0SDHn_9CVGYpfKVOvk_4BbmeYnnut_SYbAEzC2M_EyTYbB2PSy48-D2FE784xfqpdniNr_E5BFHGBWZdcasN4IyOUfIuEX9RmNwmPanDlb7v" width="186" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-73834394240289291812024-01-29T09:29:00.003-05:002024-01-29T09:29:25.219-05:00Kevin Duffy on the difference between growth and value investingGrowth investing: Find companies where others underestimate how good things can get. <div><br /></div><div>Value investing: Find companies where others overestimate how bad things can get. </div><div><br /></div><div>Growth and value are just two sides of the same coin.</div><div><br /></div><div>~ Kevin Duffy, <a href="https://twitter.com/kevinduffy1929/status/1751639544124809560">tweets</a>, January 28, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiS6B9yw-MO0iQHxWfdl7BGK07E_qii1aUh2Gnwpr-EZGWvPUE1FTtvX1hFV-iruxDBCvwpiIabCce_8cfNQOYo5edsMeqIVza8sTk7RpctrdLc1fNRqWJrd_twRxR2AFEnbpaVnvXO2fAKzwK1wSQHa5qM3id0NRsS2U2_1n_S8qHCGqP831T-IWPnjzDf" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="407" data-original-width="807" height="201" src="https://blogger.googleusercontent.com/img/a/AVvXsEiS6B9yw-MO0iQHxWfdl7BGK07E_qii1aUh2Gnwpr-EZGWvPUE1FTtvX1hFV-iruxDBCvwpiIabCce_8cfNQOYo5edsMeqIVza8sTk7RpctrdLc1fNRqWJrd_twRxR2AFEnbpaVnvXO2fAKzwK1wSQHa5qM3id0NRsS2U2_1n_S8qHCGqP831T-IWPnjzDf=w400-h201" width="400" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-49119654580413608552024-01-16T15:15:00.002-05:002024-01-16T17:35:36.974-05:00Russ Greene on Unilever's ESG rollercoasterUnilever's history is a microcosm both of the rise of ESG and of the challenges the ESG agenda is now facing. The British consumer packaged goods corporation owns several successful brands, including Ben & Jerry's, Dove, and Magnum. It has prided itself on its ESG credentials, particularly under Paul Polman, Unilever's CEO from 2009 to 2019. <div><br /></div><div>Under Polman's leadership, the company made a series of corporate commitments to environmental and social causes. It supported sustainable agriculture at the World Economic Forum. It helped create the United Nations' "sustainable development goals." It "made a stand to #unstereotype the way men and women are portrayed in marketing." Again and again, it filtered its corporate purpose through a progressive worldview. </div><div><br /></div><div>While it is now common for brands to advertise their commitments to such causes, Unilever took the lead in incorporating "purpose" into virtually everything it did. Polman often called for CEOs to focus on creating value for a wider group of "stakeholders," as opposed to narrowly focusing on shareholders; he also campaigned for government efforts to fight climate change. </div><div><br /></div><div>At first, Polman's play worked. In his decade atop the company, Unilever's stock price rose by about 150 percent—"well ahead of the FTSE [<i>Financial Times</i> Stock Exchange] 100 average," <i>The Guardian</i> notes—and it reported decreasing emissions from its factories by 47 percent from 2008 to 2018. Perhaps it indeed was possible to achieve both purpose and profits, to serve both "stakeholders" and shareholders at once. </div><div><br /></div><div>Toward the end of his term, though, signs of trouble appeared. Kraft Heinz, a firm closely associated with Warren Buffett and his holding company Berkshire Hathaway, made a bid for control of Unilever in 2017. The company rejected the offer. This event carried symbolic meaning, as Buffett has a long history of favoring profits over "purpose." In the fallout, investors increasingly put pressure on Unilever to cut bureaucratic overhead. </div><div><br /></div><div>After Polman left the company in 2019, his replacement Alan Jope eagerly picked up the ESG mantle. A 2021 Unilever blog post declared that there was "No trade-off between purpose and performance." In 2022, after a backlash against ESG had begun, Jope declared at a Clinton Global Initiative event that Unilever "will not back down on this agenda despite these populist accusations."</div><div><br /></div><div>Indeed, the populists did not prompt Unilever to back down from ESG. After all, Unilever is a British company, and in Britain, even conservative politicians have embraced aspects of the ESG agenda. Market forces, on the other hand, have had an impact. Investor Terry Smith repeatedly ridiculed Unilever's "virtue-signaling," calling on the company to focus on fundamentals. Why did Hellmann's mayonnaise need a purpose? Didn't it already have one, as a salad and sandwich condiment? Nor was Smith the only investor concerned with Unilever's flagging performance.</div><div><br /></div><div>Within months of his promise not to back down, Jope announced that he was stepping down as CEO. His replacement, Schumacher, is the one who called the focus on ESG goals a "distraction."</div><div><br /></div><div>~ Russ Greene, "<a href="https://reason.com/2024/01/14/is-esg-already-over/">Is ESG Already Over? CEOs are beginning to wonder what to do when environmental, social, and governance factors are at odds with performance.</a>," <i>Reason.com</i>, February 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjt26wVk-O7mce66N7wFV3otXBEzyVqUyj4EBnd18cHE59p4OztJxlbI7Awwlqc7x4_F_ki46PeU804XFxg7C0XGYztHInMCqv1GCuFGVGUhEDR2Aj3r2gM6dhwpC6-FiMipsosQrsRmrfYAJIM0p8ax7EamFSgMPy6kmaUZFcmDBaEoLg56KO_t562ks84" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="653" data-original-width="1161" height="180" src="https://blogger.googleusercontent.com/img/a/AVvXsEjt26wVk-O7mce66N7wFV3otXBEzyVqUyj4EBnd18cHE59p4OztJxlbI7Awwlqc7x4_F_ki46PeU804XFxg7C0XGYztHInMCqv1GCuFGVGUhEDR2Aj3r2gM6dhwpC6-FiMipsosQrsRmrfYAJIM0p8ax7EamFSgMPy6kmaUZFcmDBaEoLg56KO_t562ks84" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-23858974463968291942024-01-15T13:06:00.002-05:002024-01-15T13:06:45.588-05:00George Orwell on the pretense for warEvery war, when it comes, or before it comes, is represented not as a war but as an act of self-defense against a homicidal maniac.<div><br /></div><div>~ George Orwell</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiwWJrCzGVq_NZ_KMukn7y0TXt_8ZZi4bLgR9aj0pHwujJKy1UrYHGJsAAe8wyjP2MQFLxKec3ZAJRaDRyWkl-FO1-BbiAucazxueJWipRXwv9BwAvFXyyfP5GCRH0qSjsCOrTx7mlCveLuH0evv1a4iNLljVwh7osTo_wrY5RMnc0fTZuyzy1sFTvc3ooP" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="300" data-original-width="168" height="200" src="https://blogger.googleusercontent.com/img/a/AVvXsEiwWJrCzGVq_NZ_KMukn7y0TXt_8ZZi4bLgR9aj0pHwujJKy1UrYHGJsAAe8wyjP2MQFLxKec3ZAJRaDRyWkl-FO1-BbiAucazxueJWipRXwv9BwAvFXyyfP5GCRH0qSjsCOrTx7mlCveLuH0evv1a4iNLljVwh7osTo_wrY5RMnc0fTZuyzy1sFTvc3ooP=w111-h200" width="111" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-1662824871889757432024-01-15T10:54:00.002-05:002024-01-15T10:54:10.233-05:00Dylan Saba on how Israel is losing support among younger American JewsThe younger Jewish community in the United States is far more open to Palestinian liberation, is far more active on this issue than the generations prior and it's posed a real generational divide within the Jewish community, but it's also inspired a lot of hope that we can actually build a pluralistic justice movement on this issue. And that poses a threat. That poses a threat to pro-Israel groups, to the older generation who counts on that support from the Jewish community to justify Israel's crimes. And they're losing that support and the data indicates that they're losing that support and that's a growing trend and it's beautiful to see.<div><br /></div><div>~ Dylan Saba, "<a href="https://www.youtube.com/watch?v=s0hk0qPJglE&ab_channel=TheRealNewsNetwork">Zionist anti-Palestinian censorship is surging</a>," <i>Chris Hedges Report</i>, 24:00 mark, November 24, 2023</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiZRTWtZ-B9ORxDTtcpYgiGj6ZH3FubmZck-xdsqBpcAdTGrKJNjVmDr21xxKU6RPGL78twzFT83s6VP07_Cv1rLb00jSdI9_70nRtR9xlDT3mm82Ble333fd4H4bQRLgM8Ld5y_FJKI7ivDrAnE4WYH68RhbPF4Rk6ySZLiDKv27GPVzY9yuwyvf7aRX2Z" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="501" data-original-width="1011" height="159" src="https://blogger.googleusercontent.com/img/a/AVvXsEiZRTWtZ-B9ORxDTtcpYgiGj6ZH3FubmZck-xdsqBpcAdTGrKJNjVmDr21xxKU6RPGL78twzFT83s6VP07_Cv1rLb00jSdI9_70nRtR9xlDT3mm82Ble333fd4H4bQRLgM8Ld5y_FJKI7ivDrAnE4WYH68RhbPF4Rk6ySZLiDKv27GPVzY9yuwyvf7aRX2Z" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-50014634121564876172024-01-14T11:27:00.004-05:002024-01-14T11:27:59.282-05:00George Kennan on the false "good vs. evil" narrativeIn this day of another great political-emotional preoccupation, when the image of the Soviet Union leaders has replaced that of Hitler in so many Western minds as the center and source of all possible evil, it is perhaps particularly desirable that we should remember these things. Let us not repeat the mistake of believing that either good or evil is total. Let us beware, in future, of wholly condemning an entire people and wholly exculpating others. Let us remember that the great moral issues, on which civilization is going to stand or fall, cut across all military and indeological borders, across peoples, classes, and regimes - across, in fact, the make-up of the human individual himself. No other people, as a whole, is entirely our enemy. No people at all - not even ourselves - is entirely our friend.<div><br /></div><div>~ George Kennan, <i>Russia and the West Under Lenin and Stalin</i>, Chapter 23: "Russia and the West as Allies," p. 369</div><div><br /></div><div><table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEg-PjC8SfJR8zu_BmK6svZw0QWi-sQ__7eShejpBpyYlhvBnTzQ3ke5f1JBRwUDnu_xmmMrXcY_Y3VXGw-nAQvqpDoeKtC7945dCvziG9ACFW77lyuq2O2oJoeFy4rC2toexXUONZCRNMmv0glxL7TAJOzeC4mZROnDqkpRGxuKQEA4Hekrc3zNvQahYj0y" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img alt="" data-original-height="1000" data-original-width="632" height="200" src="https://blogger.googleusercontent.com/img/a/AVvXsEg-PjC8SfJR8zu_BmK6svZw0QWi-sQ__7eShejpBpyYlhvBnTzQ3ke5f1JBRwUDnu_xmmMrXcY_Y3VXGw-nAQvqpDoeKtC7945dCvziG9ACFW77lyuq2O2oJoeFy4rC2toexXUONZCRNMmv0glxL7TAJOzeC4mZROnDqkpRGxuKQEA4Hekrc3zNvQahYj0y=w127-h200" width="127" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">1961</td></tr></tbody></table><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-14353772002902370362024-01-07T18:39:00.005-05:002024-01-07T18:40:55.394-05:00Kevin Duffy on American imperialism and the Israel allianceAt the core of American imperialism is the noble cause. Woodrow Wilson got the ad campaign started when he coined the phrase “making the world safe for democracy.” In 2009, the Navy came up with the slogan “a global force for good.” (This lasted all of five years.) The mask is now off Israel. Its carefully cultivated image as an enlightened, progressive, tolerant democracy has been shattered… not good for the U.S. global brand. America’s longstanding policy of unconditional support for Israel is now in question, i.e. the imperial delusion is bumping into harsh reality.<div><br /></div><div>~ Kevin Duffy, "The Israel-Palestine Conflict: Investment implications," <i><a href="http://www.thecoffeecanportfolio.com">The Coffee Can Portfolio</a></i>, January 6, 2024</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgT-GpXF-9zgXVMO9bTNj9I_dLO9-ptHV7-ZpSYeao8A7WbhlfFP5_J9O7YX2NJ3MA2JlXMzdH9DgWqa9kq_I4emcPuAmDodQGU1vPXA18YcUa99aBSxY23DkVCNp6nTPUdPe6Bnmztay_vlZmy3GOzE7mVP5Fc6lgPQJDkCFQaWI5zkHhZx2cg8EhSlhnN" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="546" data-original-width="800" height="237" src="https://blogger.googleusercontent.com/img/a/AVvXsEgT-GpXF-9zgXVMO9bTNj9I_dLO9-ptHV7-ZpSYeao8A7WbhlfFP5_J9O7YX2NJ3MA2JlXMzdH9DgWqa9kq_I4emcPuAmDodQGU1vPXA18YcUa99aBSxY23DkVCNp6nTPUdPe6Bnmztay_vlZmy3GOzE7mVP5Fc6lgPQJDkCFQaWI5zkHhZx2cg8EhSlhnN=w348-h237" width="348" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-77814529873369739832024-01-06T13:13:00.002-05:002024-01-06T13:13:20.348-05:00Jim Grant on making interest rate forecasts<b>Q</b>: A friend once said, “It’s okay to forecast the end of the world, just don't ever give a date.” When people ask you about timing, what do you tell them? <div><br /></div><div><b>A</b>: Oh, I’ve become very wily. Years ago, someone asked me to forecast the 10-year yield one year hence, and I had the presence of mind to say no, thank you. I count that as my journalistic coming of age. Only rookies pick levels and dates.
</div><div><br /></div><div>~ Jim Grant, <i>The Austrian</i>, January-February 2021</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhPlnrsFsulE3CbtrLkf1R1iHe8OwgK11PLayhHVQ048r7P5s_fookR2SxyMjyeN-asuj_LWMRqKTY8_Is4cwcajUPRYCb0KNk9HBg1IFa8XLkVqzJon8WCk5q70JeQ1TzguPfv5rMSfIT9mOy_iB2AQBzrAgefKbMtsXDZBENmQmb0VhGwpo1pMMLmscfW" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="667" data-original-width="1000" height="213" src="https://blogger.googleusercontent.com/img/a/AVvXsEhPlnrsFsulE3CbtrLkf1R1iHe8OwgK11PLayhHVQ048r7P5s_fookR2SxyMjyeN-asuj_LWMRqKTY8_Is4cwcajUPRYCb0KNk9HBg1IFa8XLkVqzJon8WCk5q70JeQ1TzguPfv5rMSfIT9mOy_iB2AQBzrAgefKbMtsXDZBENmQmb0VhGwpo1pMMLmscfW" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-1236737836168759072024-01-06T12:18:00.001-05:002024-01-06T12:18:10.756-05:00Michael Hartnett: "Everyone’s fully invested in U.S. exceptionalism"Everyone’s fully invested in U.S. exceptionalism. A bond investor is overweight U.S. Treasurys. An equity investor is massively long U.S. stocks and massively long U.S. tech stocks, and everyone’s now overweight the dollar. And I just wonder if this is the thing that we’re going to get wrong… You can only sell what you own. And everyone owns America. And I just worry – whether it’s starting today or whether it’s done in three months’ time – that the dollar’s going to get spanked. It’s partly because the market ultimately knows that we need to delever, it knows that there’s too much debt and knows that the deficit is so big. But it also knows that society and the politicians would rather address that through debasement, a weaker currency, than by attacking the root of the problem, which is reducing spending and reducing expectations of spending.<div><br /></div><div>~ Michael Hartnett, chief investment strategist, BofA Merrill Lynch, speaking at Grant’s Conference, October 2023</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgD-kUzb217_LgTI5dD4mLBVYRw2Ma_xBOu9s7bnAXMRwjfnV5XGLK4YlYhxtWOYGSp6UUpBDUHs1yyzI7oWjc4L7DW2GuezeRSnJuDhQvv8v7kiglbFFbt59rM9GJ2nxx00iL_ICrdDosOjfC-AXuSjc78DdcNs4-7ldhY-Kwx8JPPiiv4DBIEuCgzy3Y0" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="360" data-original-width="640" height="180" src="https://blogger.googleusercontent.com/img/a/AVvXsEgD-kUzb217_LgTI5dD4mLBVYRw2Ma_xBOu9s7bnAXMRwjfnV5XGLK4YlYhxtWOYGSp6UUpBDUHs1yyzI7oWjc4L7DW2GuezeRSnJuDhQvv8v7kiglbFFbt59rM9GJ2nxx00iL_ICrdDosOjfC-AXuSjc78DdcNs4-7ldhY-Kwx8JPPiiv4DBIEuCgzy3Y0" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-1255406744643340832024-01-04T16:48:00.003-05:002024-01-07T18:46:48.666-05:00Sheera Frenkel on the Gaza blockade (2010)Israel's blockade of Gaza includes a complex and ever-changing list of goods that are allowed in. Items such as cement or metal are barred because they can be used for military purposes, Israeli officials say.<div><br /></div><div>According to figures published by Gisha in coordination with the United Nations, Israel allows in 25 percent of the goods it had permitted into Gaza before the Hamas takeover. In the years prior to the closure, Israel allowed an average of 10,400 trucks to enter Gaza with goods each month. Israel now allows approximately 2,500 trucks a month.</div><div><br /></div><div>The figures show that Israel also has limited the goods allowed to enter Gaza to 40 types of items, while before June 2007 approximately 4,000 types of goods were listed as entering Gaza.</div><div><br /></div><div>Israel expanded its list slightly Wednesday to include soda, juice, jam, spices, shaving cream, potato chips, cookies and candy, said Palestinian liaison official Raed Fattouh, who coordinates the flow of goods into Gaza with Israel.</div><div><br /></div><div>~ Sheera Frenkel, "<a href="https://web.archive.org/web/20100612001046/http://www.mcclatchydc.com/2010/06/09/95621/israeli-document-gaza-blockade.html">Israeli document: Gaza blockade isn't about security</a>," <i>McClatchy Newspapers</i>, June 9, 2010</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEh7eFr7J1vDmgho60IlRcbN_kWGOHMlTD5x2bDgdjkJjoRX9E0LpRTus9SkCueHK3B-CllMWbbyPghb_Jl3oSza4-xF9JT5uvjvb1zuwicpmS_AuC46hfjjkRx_J-YnK7p5WoxKa3ss_2REGkD2S-YrSbcAQAe4L0SqX6Rm0ZcsQ_Pq6p6U0EQdZpgBNcHT" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="800" data-original-width="1200" height="213" src="https://blogger.googleusercontent.com/img/a/AVvXsEh7eFr7J1vDmgho60IlRcbN_kWGOHMlTD5x2bDgdjkJjoRX9E0LpRTus9SkCueHK3B-CllMWbbyPghb_Jl3oSza4-xF9JT5uvjvb1zuwicpmS_AuC46hfjjkRx_J-YnK7p5WoxKa3ss_2REGkD2S-YrSbcAQAe4L0SqX6Rm0ZcsQ_Pq6p6U0EQdZpgBNcHT" width="320" /></a></div><br /><br /></div><div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-87884953839267069952024-01-04T14:21:00.004-05:002024-01-04T14:21:33.766-05:00Ilana Mercer on the "seething snake pit that is Gaza"In 2005, with great enthusiasm from the Israeli Left, Gaza was given over to the dogs of war, Hamas and their avid constituents. Despite the fertile, coastal land they were handed, the precious ground water they sit on, and generous international assistance, the place soon went to the dogs. Egypt, Jordan and Israel are all terrified to open their borders to the seething snake pit that is Gaza.<div><br /></div><div>It matters not whether you think the cauldron of cruelty that is Gaza created its inhabitants or whether it’s the obverse. The reality is that every nation in the region fears the Gazans. Nobody in the region wants immigrants from Gaza...</div><div><br /></div><div>~ Ilana Mercer, "<a href="https://www.unz.com/imercer/hamas-israel-and-the-anatomy-of-state-treason/">Hamas, Israel and the Anatomy of State Treason</a>," <i>The Unz Review</i>, October 12, 2023</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhkrnouY7X7wTZk7-5quCHRq97J18tO1pnv5adCFxaOkSd4WrpjVo-wlcFu9swGn6xoOHX4ToZ5Bo82JLeqobqXZVU4q3NPPzcijjVoTJq2zKu_QeSfx7jvaSX7IWNMJxwsdlDFKaVxZLFl75Fbaphfe9rUVnf84mEV4gYAafsO74RjyCvIo3HEGJdwWOPp" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="391" data-original-width="600" height="209" src="https://blogger.googleusercontent.com/img/a/AVvXsEhkrnouY7X7wTZk7-5quCHRq97J18tO1pnv5adCFxaOkSd4WrpjVo-wlcFu9swGn6xoOHX4ToZ5Bo82JLeqobqXZVU4q3NPPzcijjVoTJq2zKu_QeSfx7jvaSX7IWNMJxwsdlDFKaVxZLFl75Fbaphfe9rUVnf84mEV4gYAafsO74RjyCvIo3HEGJdwWOPp" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-3889120927297326112024-01-04T09:04:00.005-05:002024-01-05T09:10:05.178-05:00Uri Averny on the first Gaza War (2009)WHAT WAS THE AIM? Tzipi Livni [Minister of Foreign Affairs] announced it openly: to liquidate Hamas rule in Gaza. The Qassams served only as a pretext. <div><br /></div><div>Liquidate Hamas rule? That sounds like a chapter out of “The March of Folly”. After all, it is no secret that it was the Israeli government which set up Hamas to start with. When I once asked a former Shin-Bet chief, Yaakov Peri, about it, he answered enigmatically: “We did not create it, but we did not hinder its creation.” </div><div><br /></div><div>For years, the occupation authorities favored the Islamic movement in the occupied territories. All other political activities were rigorously suppressed, but their activities in the mosques were permitted. The calculation was simple and naive: at the time, the PLO was considered the main enemy, Yasser Arafat was the current Satan. The Islamic movement was preaching against the PLO and Arafat, and was therefore viewed as an ally.</div><div><br /></div><div>With the outbreak of the first intifada in 1987, the Islamic movement officially renamed itself Hamas (Arabic initials of “Islamic Resistance Movement”) and joined the fight. Even then, the Shin-Bet took no action against them for almost a year, while Fatah members were executed or imprisoned in large numbers. Only after a year, were Sheikh Ahmed Yassin and his colleagues also arrested.</div><div><br /></div><div>Since then the wheel has turned. Hamas has now become the current Satan, and the PLO is considered by many in Israel almost as a branch of the Zionist organization. The logical conclusion for an Israeli government seeking peace would have been to make wide-ranging concessions to the Fatah leadership: ending of the occupation, signing of a peace treaty, foundation of the State of Palestine, withdrawal to the 1967 borders, a reasonable solution of the refugee problem, release of all Palestinian prisoners. That would have arrested the rise of Hamas for sure. </div><div><br /></div><div>But logic has little influence on politics. </div><div><br /></div><div>~ Uri Averny, "<a href="http://zope.gush-shalom.org/home/en/channels/avnery/1230937462">Molten Lead</a>," <i>Gush Shalom</i>, January 9, 2009</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjdiQS0Bts1wn44rCGCxGULgmpC4l8jZnL7xFxWf90rMEHFe6hUVPx1KF4HRQMxqudj4fCSYqelsifjK-63museo8SxEf5rYUuD2DEWPz72dQQqjADaj3IVwGSO1sFE2AyTQHpqNVct-tTWn9ykSyiWZvUEskxOprvODEExfdpH6_Sj0Tm3GcFsrqvAJDLA" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="483" data-original-width="724" height="213" src="https://blogger.googleusercontent.com/img/a/AVvXsEjdiQS0Bts1wn44rCGCxGULgmpC4l8jZnL7xFxWf90rMEHFe6hUVPx1KF4HRQMxqudj4fCSYqelsifjK-63museo8SxEf5rYUuD2DEWPz72dQQqjADaj3IVwGSO1sFE2AyTQHpqNVct-tTWn9ykSyiWZvUEskxOprvODEExfdpH6_Sj0Tm3GcFsrqvAJDLA" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-86119956820205710472024-01-03T20:26:00.004-05:002024-01-03T20:27:54.189-05:00Phil Butler on how lithium is tied to the Russia-Ukraine WarThe riddle of unhinged EU support for the Zelensky regime in Kyiv is now solved. Anyone inclined can unravel why the Germans, in particular, backstabbed Russia in the Minsk peace boondoggle. Lithium.<div><br /></div><div>Energy Monitor’s parent company, GlobalData, recently released a report showing that Europe’s biggest lithium reserves lie in the Donbass region of Russia. The former Ukrainian Shevchenkivske field in the Donetsk region and the Kruta Balka block in the Zaporizhzhia region are now part of Russia. These reserves add tremendously to Russia’s humongous Lithium deposits (now 1.5M metric tons) and solidify the country’s top ten position globally. If we consider other BRICS nations’ reserves, including China (2M metric tons), EU industry is at a leverage point.</div><div><br /></div><div>What’s most significant about this is that the EU, and Germany in particular, desperately need the rare mineral to manufacture green energy technologies such as wind turbines, electric vehicles, and a wide variety of electronic devices. </div><div><br /></div>~ Phil Butler, "<a href="https://www.lewrockwell.com/2024/01/no_author/the-eu-is-willing-to-go-to-war-over-lithium/">The EU Is Willing to Go To War Over Lithium?</a>," <i>LewRockwell.com</i>, January 3, 2023<div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEggKhV_LIful9TOyGKPiOC85CvqEe26NtdBN_RI_EEXXY9Yj_1jB6zQnNHlbLlKijNaLX15QQZ-dR8tF9vJNRGJcrjq1s3IY2Rrw8COIK6xUh2a9BRoM3wZefyIpAj52eyyym2zwIfAiWVe-LJH5KjqCi-Hw_PLJLT1YODRrpRdN1RhyH8nJDHbIjfnZ869" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="800" data-original-width="1200" height="213" src="https://blogger.googleusercontent.com/img/a/AVvXsEggKhV_LIful9TOyGKPiOC85CvqEe26NtdBN_RI_EEXXY9Yj_1jB6zQnNHlbLlKijNaLX15QQZ-dR8tF9vJNRGJcrjq1s3IY2Rrw8COIK6xUh2a9BRoM3wZefyIpAj52eyyym2zwIfAiWVe-LJH5KjqCi-Hw_PLJLT1YODRrpRdN1RhyH8nJDHbIjfnZ869" width="320" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0tag:blogger.com,1999:blog-318954159196372122.post-88395689413679816932024-01-03T18:45:00.001-05:002024-01-03T18:45:05.065-05:00Eric Margolis on life in GazaI have been watching and writing about the agony of Palestine for some 70 years. I’ve watched what was to have been a small Jewish enclave grow into a powerful Sparta with some 200 nuclear weapons and unprecedented control of the US Congress and media. <div><br /></div><div>Gaza, this miserable, squalid human garbage dump, is a giant open-air prison packed with 2.2 million Palestinian refugees driven from the newly created state of Israel in 1948. Israel and its close ally Egypt keep Gaza bottled up on its land and sea borders. Palestinians are only allowed to fish along the shore. Coastal gas and oil reserves have been expropriated by Israel and Egypt.</div><div><br /></div><div>[...]</div><div><br /></div><div>Gaza’s two million people subsist on the edge of starvation. Israel openly boasts that it allows just enough food into the enclave to prevent outright starvation. Chemicals to treat water are banned. Electricity runs only a few hours daily because the power plant was bombed by Israel’s US-supplied air force. Hospitals have almost no medicines. In short, wartime conditions in the open-air prison. Even the wretched animals in Gaza Zoo are starving. Hamas fighters have reportedly even killed cats and dogs.</div><div><br /></div><div>The intensive punishment of Gaza, a crime under international law, began after its people voted in a free election for the Hamas movement over the Palestine Liberation Organization (PLO) which is more or less run by Israel and the United States. Israel helped found Hamas in 1987 to split the PLO, but then sought, with the US, to destroy the organization, branding it ‘terrorist.’</div><div><br /></div><div>~ Eric Margolis, "<a href="https://www.lewrockwell.com/2023/10/eric-margolis/how-much-longer-will-palestinians-be-martyr-people/">How Much Longer Will Palestinians Be Martyr People?</a>," <i>LewRockwell.com</i>, October 14, 2023</div><div><br /></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEilwyy0cTApuJdQ_6ico5zXUf-hIoimwK4cGgBCHjlo5M_s_ZJKt026HkMDui3b2waV8HPIqABCxyBlTSLA0K3duHmzMHVzGRzk1F588w7KbJlsmnsw2C8OkkB0ofPQ7wxgn9tQq9224jG7o6xIkyVxsLbQPWULFSld55O3JSDOS91zV9wHqeqQasvWKGD0" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="" data-original-height="1440" data-original-width="1920" height="190" src="https://blogger.googleusercontent.com/img/a/AVvXsEilwyy0cTApuJdQ_6ico5zXUf-hIoimwK4cGgBCHjlo5M_s_ZJKt026HkMDui3b2waV8HPIqABCxyBlTSLA0K3duHmzMHVzGRzk1F588w7KbJlsmnsw2C8OkkB0ofPQ7wxgn9tQq9224jG7o6xIkyVxsLbQPWULFSld55O3JSDOS91zV9wHqeqQasvWKGD0=w254-h190" width="254" /></a></div><br /><br /></div>Kevin Duffyhttp://www.blogger.com/profile/02542440484125450576noreply@blogger.com0