Tag Archives: Deutsche Bank

ANTI-SEMITISM ON THE INCREASE IN GERMANY AND FRANCE

The premier of North Rhine-Westphalia, Germany’s most populous state, says anti-Semitism in his country is increasing from two directions: the far right and Muslim migrants. Police clash with right-wing protesters in Chemnitz, Germany. Credit: AFP

DW news (German news) highlighted the fact that anti-semitic acts in the Federal Republic increased by over 60% last year.   They added that France was worse, with a 70% increase.

At the same time, right-wing parties are expected to make significant gains in the election for the European Parliament, set for May.   It should be emphasized that most people in these parties are simply concerned about immigration.   But this could change.

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A FRENCH VIEW ON AMERICA’S RETREAT FROM THE WORLD

“BHL (Bernard Henri Levy) … is a philosopher given to interpreting the world’s maladies.   He is in New York for the publication on Feb 12 of his latest book, elegantly provocative, “The Empire and the Five Kings.”   It describes “the new geopolitical order which is designing itself before our eyes” as a result of “America’s abdication” of global leadership.

“You have America going back,” he says, “retreating and lowering its flag, both on military and ideological terms.”   In Mr. Levy’s thesis,“ five former empires which we all thought to be dead and buried, are waking up again – Russia, China, Turkey, Sunni radical Islamism and Persia  (Iran).   We thought they were pure ghosts but no, they are moving again; they are dancing again on the floor of the world.”  They are rushing unchecked, he says, into the voids left everywhere by the retreat of the West, most notably under Donald Trump.”   (“The French philosopher who loves America,” by Tunku Varadarajan, WSJ, 2/9)

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INCREDIBLE SHRINKING EUROPE

“Last week offered fresh evidence that the most consequential historical shift of the last 100 years continues:   the decline of Europe as a force in world affairs.   As Deutsche Bank warned of a German recession, the European Commission cut the 2019 eurozone growth forecast from an already anaemic 1.9 % to1.3 %.   Economic output in the eurozone was lower in 2017 than it was in 2009; over that same period, gross domestic product grew 139% in China, 96% in India, and 34% in the US, according to the World Bank.”   (“Incredible Shrinking Europe”, by Walter Russell Mead, WSJ, 12th February).

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DEJA VU – socialism (again)

“If you’re not a socialist by age 20, you’ve got no heart; if you’re still a socialist by age 40, you’ve got no head.”   So said Winston Churchill.   It explains Alexandria Ocasio-Cortez, at 29, very well.   But how do you explain Elizabeth Warren, aged 69?   Or Bernie Sanders, who’s 8 years older!

50 years ago, it was all the rage.   Students across the world wanted socialism, government control of the means of production (and everything else).   It didn’t work.   It made a much bigger mess of the world.   Thirty years later, people realized that instead of government solving the problem, the reality was that government IS the problem!

But now, thanks to young voters, we’re back to socialism being the solution to everything.

This year, a number of socialists are in the US Congress.   And they all have expensive ideas.   Medicare for all; the Green New Deal; a guaranteed job for all; a new system for corporate control; vastly higher taxes.   These are all part of the program.   The cost to the tax-payer would be horrendous.     A guaranteed job for all would make government even more inefficient.

That isn’t to say it won’t happen.

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Democracy in Africa?  What democracy in Africa?

Note from The Editor:   Branko Brkic, Daily Maverick, 20 January 2019

The Democratic Republic of the Congo’s Constitutional Court in the early hours of 20 January upheld the victory of Felix Tshisekedi by rejecting appeals by his rival, Martin Fayulu.   Fayulu has rejected the court ruling and called on his supporters to organize non-violent protests.

It is becoming increasingly clear for everyone to see:   Democracy in Africa is an idea to which almost nobody is subscribing.   Once more, another country’s clear majority chose its president, only for the land that was once Mandela’s to accept the clearly fake presidential and parliamentary results, people’s will be damned.   This time, it’s Congo’s turn.   So, why have elections at all?   The polls in Congo have come and gone, another one in the wall of denying the people’s true will.   The “results,” if they could be even considered that, have clearly been cooked.   (Daily Maverick, South Africa, January 2019)

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FIGHTING FOR THE KING IN AMERICA’S FIRST CIVIL WAR

Recently, I’ve read four books on the American Revolution.   All four books were written by Americans — and all four describe the Revolutionary War as “America’s first civil war.”   Indeed it was.

Most of the battles did not involve any British troops.   And for two years after the British defeat at Yorktown, fighting continued between Americans.   The conflict was between American Tories (Loyalists) and American Patriots (Rebels).   In some areas (notably South Carolina) 80% of the citizenry supported the Crown.   In fact, at one point the Patriots were ready to give up on the South as they were solidly loyal.

One thing is clear – the more conservative you are now, the more likely you are to have been a Loyalist!

Out of the war came three nations, the United States, Canada and Sierra Leone.   (The latter was established for slaves freed by the British Army.)   The war was not between America and England. Note the last three paragraphs of “Tories:   Fighting for the King in America’s First Civil War,” by Thomas B Allen:

“Within a year after the war ended, about 100,000 Americans left their homes.   Most of them went to Canada.   The rest chose England, Scotland or British possessions in the West Indies.   Within a generation the new Canadians had spread across the vast British dominion, taking with them the virtues and the visions that they and their ancestors had had as American colonists.   Granted large tracts of land, they transformed a wilderness into a vibrant nation.   Many became prosperous farmers or started mercantile dynasties. “Seldom had a people done so well by losing a war,” a Canadian historian wrote.

“Today, four to six million Canadians – about one fifth of the population – claim a Tory ancestor.   Many Canadians believe that their nation’s traditional devotion to law and civility, the very essence of being a Canadian, traces back to being loyal, as in Loyalist.

“Below the border live the people who started another country, built by Rebels.

Within a generation, those Rebels would begin to forgive – and forget – the Tories.   They would call the Revolution a war between Americans and the British, losing from their collective memory the fact that much of the fighting had been between Americans and Americans.”   (“Tories,” Thomas B. Allen, page 333).

This obscures the fact that the war saw brother fight brother, that neighbors fought each other.   We have seen this twice in our history.  Now, we are dividing again.  Could history repeat itself?

(The other three books are “Redcoats and Partisans,” by Walter Edgar; “Frontier Rebels,” by Patrick Spero; and “Scars of Independence,” by Holger Hoock.)

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NEWS YOU MAY HAVE MISSED

News

“Based on current trends China’s economy will overtake America’s in purchasing power terms within the next few years . . . The US is now no longer the world’s sole economic superpower and indeed its share of world output . . . has slipped below the 20% level which we have seen was a useful sign historically of a single dominant economic superpower.” (“America is very close to losing its place in the world as #1.” Deutsche Bank’s Jim Reid is quoted.)

Rapidly gaining on the US is China. “Reid offered this prescient quote from Napoleon Bonaparte: ‘Let China sleep, for when she awakes, she will shake the world.’”

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Turkey is key to dealing with ISIS.

This Middle Eastern nation is the second biggest military power in NATO and is a long-term US ally.   But its new president, former prime minister, Recep Tayyip Erdogan, is not the secularist his predecessors have been.   Rather, he’s a more religious Sunni Muslim. As ISIS is Sunni, Erdogan’s loyalty to the US is now in doubt. This is serious for the United States – American nuclear missiles are based in the country.

Turkey was also a long time friend of Israel. Erdogan is now comparing Israel to Hitler.

CBS’s security expert, Michael Morrell, said Monday that there are four Islamic terrorist groups that seriously threaten the West. He said that ISIS is not the greatest threat. That accolade goes to ‘Al-Qaeda in the Yemen.’

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Scotland votes tomorrow on breaking away from the United Kingdom. According to opinion polls, the two sides are running neck and neck. If the “Yes” vote wins, there will likely be a financial upheaval.   Already, the Royal Bank of Scotland, once the world’s biggest bank, is saying it will move its HQ from Scotland to London. Other big companies have also said they will head south.

Scotland depends on London for roughly 10% of its spending, money that will no longer be forthcoming. Additionally, breaking away from the UK will leave Scotland with no currency – it will have to join the eurozone, giving Germany effective control over government spending.

Assuming a “yes” vote, there will be eighteen months of discussions aimed at a manageable divorce, before the new country receives its independence.

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The Obama Administration is sending 3,000 US troops to West Africa, mainly Liberia.

The same administration reluctantly agreed to send 500 military advisers to Iraq to train Iraqis to fight ISIS.

Which poses the greatest threat to the United States, ISIS or Ebola?