Behind the Banking Crisis.

I want to recommend a good piece at Conservative Tree House, which I read every day.

It is this post which connects a few dots.

This is where we need to keep the BRICS -vs- WEF dynamic in mind and consider that ideologically there is a conflict between the current agenda of the ‘western financial system’ (climate change) and the traditional energy developers. This conflict has been playing out not only in the energy sector, but also the dynamic of support for Russia (an OPEC+ member) against the western sanction regime. Ultimately supporting Russia’s battle against NATO encroachments.

The war in Ukraine, which probably would not have begun if Trump was president, led to a war of economic interests. The western democracies have invested their future in “climate change,” which used to be “global warming” before the failure to warm made that slogan obsolete. Climate change has evolved into a war on energy production. The Biden regime now has even gone after gas stoves. Since I just bought one, I have an interest. Now, they seem to be going after washing machines. Ours has failed recently so I had better be quick to replace it.

The recent Credit Suisse bank crisis is complicated by the refusal of its largest shareholder, the Saudis, to help with a bail out. Why would this be ? This brings up the topic of BRICS. This is a new financial combination made up of Russia, China, Brazil, India and South Africa.

Read more

The March of Folly

That’s the title of a four-pronged historical examination by Barbara Tuchman: an examination of four specific episodes in history (or in the case of Troy and their gift horse, possibly mythical history) where the leadership of a political entity decided – against all good advice and reasoned opposition – to go full out in idiocy counter to their best interests, the pursuit of which left them very much in a worse situation than before. Pride, stubbornness, stupid devotion to a set of principles which wound up biting them in the nether regions and supposedly serving a warning and example to the rest of us. Yet – as MS Tuchman notes – political bodies kept on doing it, over and over again. (Although I and others do have some serious beefs about how she categorized the saga of US in Vietnam.) It’s a readable overview, a quick skim of what happen in four separate eras when four different entities decide against all good advice, interests and viable alternatives, to go ahead and pee on that electric fence; a reminder – as if we really do need another one, that self-interested stupidity is a human constant.

Read more

Quote of the Day: Veterans Day 2022

J.E. Dyer:

Americans instinctively know that empires bring more wars, not fewer. Over the centuries, Europeans have had ample opportunity to learn the same lesson, and many still understand it. The surge of so-called “populism” in much of the world today, and not just the West, is largely about not being dragooned into empires, in which taxes and mandates on the people, and each generation’s fighting men, are devoted to the agendas of rulers at some level that can’t be held accountable.
 
[. . .]
 
We don’t fight for abstractions that may bring others unknown to us under the rule of emperors. We fight so that fighting will stop, and we will have homes to go home to when it does. We fight so that the vulnerable and beloved among us can live securely in peace. We fight so that empires cannot prey on us, whether attacking us in our cities and farms or denying us tradeways and travel and interaction with our fellow men. We fight so that self-organizing “tribes,” subject to ideological fits, cannot wage guerrilla war among us.

On the PBS News Hour today or yesterday two American think-tank people discussed the Biden administration’s new enthusiasm for promoting a negotiated settlement to the Ukraine war. (The Biden people now sound like Elon Musk, except that when Musk said it people who usually support Biden called Musk a Putin supporter. Perhaps Biden finds that he can be more flexible now that the elections are over.)

One of the think-tank people, agreeing with the Administration, said that an imperfect negotiated settlement in Ukraine is preferable to the risk of nuclear war. The other think tanker said that, on the contrary, the Ukrainians are winning, and since their cause is just we should help them to reclaim all of their land and win a complete victory. The obvious (unasked) question was, Why should we even consider taking such a risk? We may sympathize with Ukraine and supply them with weapons, but risk a major war? A possible perfect outcome isn’t worth additional fighting, death, unpredictability and geopolitical peril if a muddled-through deal that leaves everyone unhappy but puts a quick stop to the fighting is available.

The Biden people and too many members of Congress have been gratuitously bellicose towards Russia. And of course Biden pulled us out of Afghanistan in a way that could only have encouraged Putin to invade Ukraine. Our leaders have forgotten, or never knew, the first principles to which J.E. Dyer alludes.

Reprise Post; At the Tomb of Couperin – Thoughts on a Centenary

(For Veteran’s Day – a reprise post from 2018)

There is a lovely little classical piece by Maurice Ravel – Le Tombeau de Couperin, composed shortly after the end of the war, five of the six movements dedicated to the memory of an individual, and one for a pair of brothers, all close friends of the composer, every one of them fallen in a war of such ghastliness that it not only put paid to a century of optimistic progress, but barely twenty years later it birthed another and hardly less ghastly war. Maurice Ravel himself was over-age, under-tall and not in the most robust of health, but such was the sense of national emergency that he volunteered for the military anyway, eventually serving as a driver – frequently under fire and in danger. Not the usual place to find one of France’s contemporarily-famous composers, but they did things differently at the end of the 19th Century and heading all wide-eyed and optimistic into the 20th. Citizens of the intellectual and artistic ilk were not ashamed of their country, or feel obliged to apologize for a patriotic attachment, or make a show of sullen ingratitude for having been favored by the public in displaying their talents.

Read more

Known Knowns, Known Unknowns, Et Cetera

“There are known knowns, things we know that we know;
and there are known unknowns, things that we know we don’t know.
But there are also unknown unknowns, things we do not know we don’t know.”
– Donald Rumsfeld

So last week’s post regarding the paucity of lefty anti-war protesters regarding the Ukrainian war is still going strong with comments, reminding me once again of the great sage, Donald Rumsfeld, regarding what we know, and what we know that we don’t know … and what we really don’t know that we don’t know.
What do I know for sure about the war? I know that both sides are … parsimonious with the truth about everything that is happening in the zone of conflict, to the point where a truckload of salt is necessary when reading the headlines, no matter if it’s the established print media, or blogs. What to believe? Practically nothing, save that yes, indeed, there is a war and a pretty hot one, too.
I am pretty certain that Ukraine served basically as the Biden family’s ATM. Corrupt government – yeah, that I do believe. But as corrupt than Russia itself, Nigeria, Pakistan, Belarus, South Sudan, Somalia, Burundi, Venezuela, and other frequent fliers on ‘most corrupt evah!’ list?
I do believe that Putin’s Russia apparently went into the Ukraine believing that it would be a one-two punch and settled to the advantage of Russia within a fortnight. That the war has been going on without a resolution since February of this year argues that Putin and his generals did indeed bite off more than they could chew, seriously overestimating their own capabilities and the Ukrainian will to resist.
The modern Ukrainians are descended from the Cossacks, in culture if not in blood, who had for centuries a tradition of making war … enthusiastically. They also, if I read my history right, still hold a grudge for being subjected to the Holodomor, the mass starvation under Stalin’s harsh rule in the 1930s. And that has to cast a very long shadow, among survivors of that state-instituted horror and their descendants.

Read more