No aesthetically-appealing photos or amusing stories today, I’m afraid, just some very serious links and excerpts.
The rockets of Hezbollah. I knew they had accumulated considerable weaponry, but didn’t know it was this bad.
Kevin Williamson on preventing jihadist violence
James Schall of Georgetown University on Orlando in hindsight:
The Orlando killer was not alone. He was a true believer and other believers in the mission of Islam inspire him. Neither he nor any of his predecessors or future companions are to be explained by psychology, economics, or sociology. They are to be explained by taking their word for what they are doing. If the President of the United States or the British Prime Minister, the media, the professors, the clerics, cannot or will not understand this reality, we cannot blame ISIS and its friends. They are also realists who understand where ideas and reality meet, sometimes on a battlefield in Iraq, sometimes in a night club in Orlando.
The Democrats as the American Totalist Party
Football player Herschel Walker reports that he has had speaking engagements canceled because of his support for Donald Trump. Which is exactly the kind of action one would expect from members of a Totalist party.
Shortly before the Brexit vote, writer Frederick Forsyth wrote about the basic character of the EU: Government by deception:
You have repeatedly been told this issue is all about economics. That is the conman’s traditional distraction. This issue is about our governmental system, parliamentary. Democracy versus non-elective bureaucracy utterly dedicated to the eventual Superstate.
Our democracy was not presented last week on a plate. It took centuries of struggle to create and from 1940 to 1945 terrible sacrifices to defend and preserve.
It was bequeathed to us by giants, it has been signed away by midgets.
Now we have a chance, one last, foolishly offered chance to tell those fat cats who so look down upon the rest of us: yes, there will be some costs – but we want it back.
A former ‘big proponent’ of the EU has this to say:
To be fair, the EU’s main problem has always been its troubled relationship with democracy…This contempt for the will of the people might still be perceived as tolerable if the leaders otherwise seemed sensible – but now that someone as bad as Merkel calls the shots in EU, we’re reminded of just why having perpetual democratic safeguards is so important…the EU’s contempt for European voters and its current attempts to shut down dissenting voices bodes ill for its ability to course-correct on its own. If the EU is to be saved, it first needs to be humbled, nay, outright humiliated in such a manner that no-one can doubt that recent developments can’t be allowed to continue.
John Hussman of Hussman Funds looks at Brexit from an economic and investing perspective: Brexit and the bubble in search of a pin. He quotes his own post from last month:
My impression is that the best way to understand the next stage of the current market cycle is to recognize the difference between observed conditions and latent risks. This distinction will be most helpful before, not after, the S&P 500 drops hundreds of points in a handful of sessions. That essentially describes how a coordinated attempt by trend-followers to exit this steeply overvalued market could unfold, since value-conscious investors may have little interest in absorbing those shares at nearby prices, and in equilibrium, every seller requires a buyer.
Imagine the error of skating on thin ice and plunging through. While we might examine the hole in the ice in hindsight, and find some particular fracture that contributed to the collapse, this is much like looking for the particular pebble of sand that triggers an avalanche, or the specific vibration that triggers an earthquake. In each case, the collapse actually reflects the expression of sub-surface conditions that were already in place long before the collapse – the realization of previously latent risks.