Tag Archives: Walter Edgar

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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GLOBAL OUTLOOK BLEAK FOR 2019

There have been an increasing number of articles warning about the global economy.   The latest predicts a depression worse than the Great Depression.   None are specific, in terms of “when” but all say the signs are there.

The most common problem cited is debt.   Governmental debt is already over $22 trillion in the US.   This is the highest amount any country in history has ever owed, so it’s difficult to predict what will happen.   In addition, there’s also corporate and private debt.   The figures given do not include mortgage debt, which is also extremely high.   Nor do they include the annual commitments for Medicare, Medicaid, Social Security and other government programs, the so-called entitlements.

The 2008 financial crash started as a mortgage failure.   So did the 1873 crash.   It began in Austria-Hungary and spread around the world.   This particular crash was known as The Great Depression, more than fifty years before the depression of the thirties.   It would be a mistake to think it cannot happen again.

In fact, depressions have been a regular feature in America’s history.   There have been as many as 47 recessions and depressions since independence.   After the end of the Revolutionary War, there was a depression, in which the economy slumped by 50%.   The depression of 1873 lasted 25 years, on and off.   Unemployment was at 50% in the 1896 election, resulting in the highest turnout ever – a full 80% of voters participated that year.

Not every year saw the economy in deep depression.   It came in three waves.   It finally ended with the Spanish-American War, which got the economy moving again.

PANIC OF 1873

The 1873 depression in the US started with the collapse of Jay Cooke & Co., then a major component of the American banking establishment.   Contributory failures were the post-Civil War inflation, rampant speculative investment and losses in the Chicago and Boston fires (1871 & 1872).   Bank reserves plummeted in the first two months from $50 million to $17 million.

“The failure of the Jay Cooke bank, followed quickly by that of Henry Clews, set off a chain reaction of bank failures and temporarily closed the New York stock market.   Factories began to lay off workers as the United States slipped into depression.   The effects of the panic were quickly felt in New York, and more slowly in Chicago, Virginia City, Nevada (where silver mining was active), and San Francisco.

“The New York Stock Exchange closed for ten days starting 20 September.    By November 1873 some 55 of the nation’s railroads had failed, and another 60 went bankrupt by the first anniversary of the crisis.    Construction of new rail lines, formerly one of the backbones of the economy, plummeted from 7,500 miles (12,070 km) of track in 1872 to just 1,600 miles (2,575 km) in 1875.    18,000 businesses failed between 1873 and 1875.    Unemployment peaked in 1878 at 8.25%.    Building construction was halted, wages were cut, real estate values fell and corporate profits vanished. ”  (Panic of 1873, Wikipedia)

GRUNDERKRACH

I single out the 1873 depression because of the similarities in the global situation today.   The depression in German speaking countries is known as the Grunderkrach, or Founders Crash.   When Germany was united following the Franco-Prussian war, a lot of money flowed into the country, mostly from French war reparations. Loans were then made, mostly for mortgages.   When people couldn’t pay them, the banking system collapsed.   This spread to the US and Britain.   It was the beginning of the end of Britain’s global supremacy.

The Great Recession of 2008 began as a housing crisis.   It actually began two years earlier when housing prices started falling.   For years previously house prices had been rising fast.   Millions of people bought homes, homes they could not afford.   The banks loaned to people who should not have had loans.   It was a recipe for disaster.

The same thing is happening again.   Bad loans and speculative investments are pervasive.   Student loans are so high they could be the cause of a collapse by themselves.   Government debt is at an all-time high as are corporate debt and consumer, non-mortgage debt (credit cards).

I am reminded of what the late President of France, Charles de Gaulle, said over 50 years ago.   He did not want Britain to join the EU (he had incredible foresight!).   He dismissed the US and the UK as “the Anglo Saxon debtor nations.”   The British-American economic systems have been built on massive debt.   It works well . . . for a while!   Eventually, there comes the day of reckoning.

That may be this year.

We should never have borrowed so much money, especially after the Crash of 2008.   Often it’s been encouraged by government, when it makes little sense.   Social engineering has boosted the value of homes and increased the number of loans (more profits).   A government decree made under the last administration was that all neighborhoods should be 25% minority; the only way to achieve that was to give 100% loans to people who had never owned a house. Additionally, 100% loans have been made to immigrants, who have had little time to learn how the economy works in the US.

Remember, at stake here is America’s global leadership role.   A serious set-back for the economy would weaken the US.

It’s interesting here to note that the euro is set up very differently, with government borrowing limited to 3%.   The euro has its own problems, but could emerge as the greater currency in the event of a global depression.  It’s already used by more people than the US dollar.

Debt can mean the borrower ends up in servitude to the lender. Note the following warning from scripture:   Proverbs 22:7 7  “The rich rules over the poor, And the borrower is servant to the lender.”

This is a far cry from the promised blessings for obedience:

Deuteronomy 15:6 says:  “For the Lord your God will bless you just as He promised you; you shall lend to many nations, but you shall not borrow; you shall reign over many nations, but they shall not reign over you.”

A second cause of financial concern is impending TRADE WARS.   These will slow down the global economy.   Once again, uncertainty is an issue here.

A third reason the global economy is at risk is BREXIT, now less than two months away.   This could seriously affect inter-European trade.

A fourth factor, increasingly seen, is the economic Rule of Inequality. This is an economic law that predicts the likelihood of revolution based on the gap between the rich and the poor in any country. China is very concerned about this.   There is only one country with a greater gap and that’s the US.   Trump’s election was our “revolution” – if he is not able to deliver, there will be trouble ahead.

There are many countries around the world with a similar gap. France is going through weekly demonstrations about the rising gap between rich and poor; Venezuela and Zimbabwe are on the brink of revolution.

Other factors to watch are China’s slowdown and even the weather. Both can impact economies.

The above are all the predictables.   There may be other factors, unpredicatables, such as war, that can add to economic woes.

It remains to be seen.   But the warnings are there.   The only question is “When?”

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RUSSIA & CHINA POSE BIGGEST THREATS TO US

“Former national security adviser Zbigniew Brzezinski warned in 1997 that the greatest long-term threat to US interests would be a “grand coalition” of China and Russia, ‘”united not by ideology but by complementary grievances.”   This coalition “would be reminiscent in scale and scope of the challenge once posed by the Sino-Soviet bloc, though this time China would likely be the leader and Russia the follower.”

Nobody listened back then, but now it’s becoming clear that the two countries are cooperating to deal with what each perceives as the American threat.   The latest development is in Venezuela, where they are supporting President Maduro and condemning the US for backing the “usurper,” Juan Guaido.

In the past, the US has thought a Sino-Russian entente outlandish. Only now it’s happening.   As Mr. Brzezinski warned, it’s not that they have a lot in common, but rather they share a common enemy.

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UK TO CRASH OUT OF THE EU

Now, nothing can stop Brexit from happening.   Even many supporters of remaining in the EU see that.   The way Europe has treated the UK will make it impossible to avoid a hard Brexit.   (This assumes no change of heart in the EU.)

The facts are that British incompetence has led to Europe just wanting to get it over with.   Looking back on almost 50 years of membership there is a realization that Britain has never been a good fit, either, so why try to keep the British in?

A third reason is NATO.   Most of the other European countries sense that the US is pulling out of NATO, that it doesn’t want the responsibility or cost of defending the other members.   This is why Europe is trying to put together its own military force.   Britain, more pro-American, would only get in the way of this.

So, expect a full Brexit on March 29th.

This will not prevent Mrs. May running around Europe like a chicken with its head cut-off!

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BOOK QUOTE

“From July 1780 until the end of the year, the Catawba River Valley and the adjacent northern districts were the scenes of some of the most brutal warfare ever fought in what is now the United States.   It was a civil war, with all its horrors, as neighbors and families turned on one another with a vengeance.”   (page 140, Partisans and Redcoats, by Walter Edgar, 2001)