Category Archives: Current Events

Current Events

Beware of Halloween Spooks

2 Comments

Hello followers. I hope this missive finds you and yours in the best of health and staying safe. My bride and I returned from our getaway to St. Lucia very early this morning. Truly a relaxing place for the late twenty to late thirty crowd. For the early eighty crowd, not so relaxing; glad I purposely did not bring my Hearing Aids. Not quite my genre of music; in fact, it was unbearable. However, the place is so large and dissected in such a way we found a quiet pool away from all that. Anyway, we both had a great time, lots of fun in the sun.

I arrived home to find an excellent treatise by Greg on the current state of the economy in this once vibrant and glowing country of sane people. And as usual, I totally concur with all he states. It is coming folks. For those living off their 401K’s beware!! I and most who think like me have been selling for the past several weeks, and I shall continue during the ups and downs of Wall Street. I shall also do some selective buying, but inflationary companies, which are many, will not be on my sought-after lists.

The highlights in red within Greg’s treatise are mine.

October Instincts

By: G. Maresca

The Executive Director of JPMorgan Chase admitted that the stock market’s “biggest nightmare periods have tended to be October. You go back to obviously the crash in 1929, but the 1987 crash, and in 1989… was in October. You tend to have these October moments.”

Financially most are feeling pretty good as brokerage accounts never looked healthier and home prices are over-the-top. Over the past year, the S&P 500 has closed at new, all-time highs over 50 times and in so doing has created the illusion that the market only rises.

This results in taking more chances when investing.

The K-shaped economy and booming stock market underscore that Main Street and Wall Street are at a major disconnect. Many dismiss the growing rate of inflation, the unprecedented intervention by the Federal Reserve’s nonstop money-printing and increased debt believing that the dollar today is worth the same as it was last year.

It’s not.

The duality of low interest rates and those stimulus payouts have devalued the dollar. Thanks to inflation and time, savings in fixed investments like CDs, bank accounts and money markets lose purchasing power. With yields registering next to nothing, where are investors expected to put their money?

As a result, savers seek more risk in order to obtain better returns leading to a stock market that is cooking and overvalued. Increasing stock prices coupled with a mushrooming federal debt is a brick road paved over with inflation.  As the Fed continues easy-money policies, the market will continue higher as the infusion of cheap dollars rules the day.

Most bankers, brokers, and politicians understand that these bouts with inflation are what economists call: “The Money Illusion.” It is when one’s wealth is measured in how many dollars they possess, rather than its purchasing power.

Among investors, the Money Illusion breeds risk taking and heightened speculation. It’s like watching a skilled magician work his stagecraft. It looks and appears amazing and impossible, but it is not at all what it seems.

Low interest rates did, in fact, rescue the market. The Fed slashed short-term interest rates to near zero at the onset of the COVID-19 debacle and bought large purchases of Treasury and mortgage bonds making dollars discounted. In so doing, The Fed propped up not only the bond markets, but stocks, too.

Many are in denial about what is truly happening throughout our financial system. To paraphrase writer Upton Sinclair, it’s difficult to get someone to look when their getting paid depends on not looking.

Adding to the illusion is that 40% of all U.S. currency in circulation has been printed since March 2020. Few comprehend the effects of so many trillions in our financial system. The Case-Shiller Index which measures home prices has risen 18.6% for the year, up from a record 16.8% the month before. The index is the proverbial rat in the financial mine that brings with it a healthy dose of inflation.

Financial storm clouds are forming as the economy experiences labor shortages, supply chain disruptions, rising prices, and increasing inflation. With too many dollars chasing too few assets, the good times won’t last forever.

One out of every four companies are on life support because of low interest rates. With rates near zero, and with inflation rising, The Fed cannot afford to keep them low forever.

Bankruptcies are on the horizon.

The federal debt continues to grow as trillions crowd the government’s balance sheet with the debt literally growing by the second. Inflation does to a degree keep the debt somewhat manageable. However, as inflation rises, Social Security, and other assorted fixed incomes like pensions will see their buying power shrink even further.

Eventually, a significant tax increase will hit all Americans hard and below the belt – regardless of income.

Rising stock prices are great, but when easy money begins to create social, political, and economic turmoil, something is seriously amiss. A White House which believes that global warming, systemic racism and COVID are our greatest threats, does not possess the foresight and wisdom to comprehend what is economically occurring.

The laws of economics cannot be repealed, no matter what one’s wishful thinking may be.

As October looms, consider this a heads-up.

Postscript: Beware of the ghouls of October, they are coming, meanwhile many Americans keep chasing those soon to be negligent goods and, to paraphrase Mack the Knife , “Spending like a Sailor.”

Originally posted 2021-09-20 14:39:12.

Current Events

Joe Dumbkirk

7 Comments

Tomorrow is a day that as Churchill stated many more years ago, “A day that live in infamy.’ For those who who were alive and coherent enough to remember that day, it was the most tragic incident of my lifetime. I was a mere year old when Pearl Harbour happened; therefore, this one is significant for me. I know, as I am sure you do as well, exactly where I was and what I was doing when it happened. I was mending fences on my ranch in Montana when my wife came streaming looking for me May we never forget that day and WHO it was that caused it.

Here’s another good one from my frequent contributor and friend Greg Maresca, a noted historian who only write facts!

By Greg Maresca

It was theatrical in its design and a Shakespearean tragedy in its unfolding. As the 20th anniversary of 9/11 approached, President Biden desperately desired a historical and symbolic end to the nation’s longest war.

Biden’s vision turned out to be nothing short of a ‘70s era U.S. military and intelligence debacle taken to an unprecedented scale paid for in American blood, fortitude and treasure.

Where are the resignations of all the generals and admirals who argued against capitulation?

Robert Gates, the respected former secretary of defense under both George W. Bush and Barack Obama, wrote in his memoir that Biden had been wrong on “nearly every major foreign policy and national security issue over the past four decades.”

Some things never change.

Biden’s foreign policy rewards our enemies and punishes our allies.

It was in June as the Taliban began their march to Kabul that all U.S. embassies throughout the world celebrated sodomy via “Gay Pride Month,” as part of the Biden’s Administration’s foreign policy.

American exceptionalism was replaced with American perversion.

As Great Britain’s Neville Chamberlain is remembered for appeasement in the Nazi takeover of Sudetenland, Biden will be remembered for leaving Afghanistan to the Taliban, while abandoning thousands of America’s allies and rebooting Islamist fundamentalists the world over.

Allowing the Taliban to dictate the terms of withdrawal was reprehensible and irresponsible. As such, it raised the threat of terrorism to levels it had not witnessed in years.

Biden is a shoo-in for the Nobel Appeasement Prize for his military retreat – Dumbkirk.

Biden bequeathed the Taliban a reported $85 billion in military hardware that will allow them to wage war and terror for years. Moreover, Bagram Air Base is now China’s de facto world class central Asian integrated air headquarters courtesy of the American taxpayer. Likewise, Afghanistan is rich in rare earth minerals that China will certainly exploit and profit from.

Biden’s surrender plays daily throughout our fruited plain. Portland, Oregon is lawless permitting Antifa, and the Proud Boys to wage battle without consequences. In Los Angeles, Seattle, and San Francisco homeless bivouacs and unbridled crime have turned these cities into dystopian, democrat nightmares. In Chicago, gang warfare runs rampant with shootings far worse than what our military experienced in Afghanistan especially over the last 18 months going without casualties.

What Biden has succeeded in doing is uniting nearly two-thirds of Americans — all of whom believe his flight from Afghanistan was a colossal disaster.  It is the one-third who believe Biden is actually doing a good job that is most concerning.

In a successful military and intelligence campaign in Afghanistan, we had 2,500 troops with a strategic presence in central Asia’s foremost terrorist breeding grounds. Continued funding certainly could have been found in the series of COVID relief packages passed by Congress, of which less than half went to anything remotely COVID.

For over 70 years, we have maintained thousands of troops in South Korea, and since the end of World War II we have had troops in Japan and Germany. Maintaining a contingent of troops in Afghanistan that have been successful in deterring terrorism at home you think would be a given.

The Russians, Chinese, Iranians and the North Koreans will certainly test our defenses especially in cyberspace.

Come 9/11 our enemies will be dancing in the streets as our southern border is wide open and we are lectured about how vaccinations, global warming, and systemic racism are the most pressing problems facing the nation.

Perhaps Biden should send an army of social workers and psychologists into Afghanistan who could reason with the Taliban and show them the errors of their ways. Instructing them how they were wrongfully utilizing microaggression, ignorant of Facebook’s 58 genders, and the wonders and marvels of applied critical race theory.

Such a pathetic ending in Afghanistan was most unworthy of this 20-year epic struggle.

It was not a departure but an abandonment.

Could there have been any less planning and foresight?

Whatever possessed Biden to believe that the 20th anniversary of 9/11 was the right time for such a pullout?

 

 

 

 

 

 

The ensuing chaos at Kabul’s airport with people falling to their deaths from American Air Force planes is seared into the Biden legacy.

Postscript: This will be my last post for a little over a week. My bride and I will depart on the 11th, Saturday, on a LONG overdue Honeymoon (35 years). We never had one as I was in the middle of SOC workups , then deployed for six months. She understood completely as all Marine wives do. So we are going to some faraway place and hideout for a week. No, I won’t tell you until we return. No phones, no internet, and no TV. Swim, snorkel, scuba dive, sail board, relax, refresh, drink umbrella drinks under a canopy on the beach, and have a specially prepared dinner for us on our day — 13 September — on the beach under the same personal umbrella. 

I wish you all the best, stay safe, keep up the pressure on you know who and all the holders of his many puppet strings. I hope he hasn’t destroyed America so we have a place to which to return. Semper Fi; Jim and my bride of thirty-five years.

 

 

Originally posted 2021-09-10 13:38:27.

Current Events

An Open Letter To General Mark Milley

10 Comments

I do not know Mr. Quentin L. Smith and research only came up with the scumbag who shot two police officers, and I am certain they are not the same. Therefore, I know not the validity of this letter,  but it sure caught my radar. I hope you do not mind Mr. Quentin L. Smith, whoever your are sir, if i make a slight adjustment to the title of your wonderful letter, by removing the word “General,” and replacing it as I did with Mattis and use the term “Mr.” He is not a general in my eyes or to most of my brother and sister veterans. In my professional opinion, today we have no “real generals” in service to our once great nation. In sum, thank you for your service to our country in both the U.S. Army and the FBI. 

General (Mr.) Milley:

During testimony before the Congress of the United States you stated:

“I want to understand white rage, and I’m white…What is it that caused thousands of people to assault this building and try to overturn the Constitution of the United States of America?…I want to find that out.”

Well, General, (Mr.) I am a 76-year-old white man, a former officer in the United States Army (1967-70), and a retired Special Agent of the FBI with nearly 29 years of service (1971-1999).  I attended Trump’s rally on January 6th and I think I may be able to help you understand the reasons for “white rage.”

You impugn the motives of hundreds of thousands of patriotic citizens: whites, blacks, Hispanics, and Asians, male, female, young and old.  They weren’t trying to overturn the Constitution!  They wanted nothing more than to make their voices heard and, if possible, delay the certification of an election they believed, with probable cause, was stolen.  You and the media repeatedly claim Trump’s allegations of a “stolen election” are false.  Neither you, I, nor anyone else know whether this is true or not because the evidence (hundreds of witness affidavits signed under penalty of perjury, pristine mail-in ballots, Xeroxed ballots, the synchronized shutdown of ballot counting in 5 swing states until observers were removed from the election headquarters, etc.) has never been tested in court or disclosed to the people.

Apparently, my presence in Washington, DC on January 6th qualifies me, in your estimation, as one of those “outraged white people” you want to understand.  Since you appear to be somewhat intellectually challenged, let me give you just 13 easy to understand reasons for my “white rage” as you like to call it.

  1. I’m outraged that a duly elected President, the most effective President in my lifetime, was harassed, falsely accused of being a Russian agent, undermined, and lied about by “Deep State” career officials like yourself and a media that has become the mouthpiece of the Democrat Party; he was impeached and acquitted, not once but twice, during his entire 4-year term of office on clearly fraudulent charges.
  2. I’m outraged that BLM, Antifa, and other Marxists rioted during the summer of 2020 in cities across the country, and “heels-up” Kamala Harris led an effort to bail those who were arrested, out of jail.  Over 500 people, arrested for trespassing and vandalism at the Capitol on January 6th, remain in jail without bail and, in some cases, are held in solitary confinement.  This is not a defense of vandalism, but, how does the damage from the riots of summer 2020 compare to that at the Capitol on January 6th?
  3. I’m outraged that a president who accomplished more for the American people in four years than his three immediate predecessors did in 24 years having restored the US economy, cut taxes and regulations, made the US energy independent, brought unemployment rates down to their lowest level ever, destroyed ISIS, brokered peace deals between Israel and other Arab nations, defended our southern border, put America first, etc., etc., was fought every step of the way by Democrats and the Deep State.
  4. I’m outraged that this same president, who received eleven million more votes than he did in 2016, was questionably defeated in an election in which election laws were unconstitutionally changed in the days, weeks, and months immediately preceding the election, supposedly because of a virus.
  5. I’m outraged that a senile 78-year old career politician, who can’t put a coherent sentence together, who accomplished nothing during his 36 years in the US Senate and eight years as Vice President, who didn’t campaign and seldom left his basement during the campaign for President, and who could never draw a crowd of more than 200 people at one time, was declared the winner over a President who drew tens of thousands of enthusiastic supporters at each of his multiple rallies, daily, during the campaign.
  6. I’m outraged that Candidate Biden bragged about having put together “the most extensive and inclusive voter fraud organization in the history of American politics” (it’s on video) during an interview on October 24, 2020, with Crooked Media, a left-leaning media company founded in 2017 by former Obama staffers, and the media says that Trump lies when he claims the election was stolen!?
  7. I’m outraged that on January 28, 2018, before the Council on Foreign Relations, Joe Biden bragged  how he once threatened to withhold $1 billion in authorized military aid to Ukraine unless the former President of Ukraine “fired” the prosecutor who was investigating the corrupt energy conglomerate, Burisma, with whom Biden’s son, Hunter, was being paid $84,000 per month to serve on the Board of Directors.  Can you say, “quid pro quo?”  But, when Trump congratulated the newly elected President of Ukraine, who campaigned on fighting corruption, and encouraged him to follow through on his campaign promise, Rep. Adam Schiff (D-CA) blatantly lied about what Trump said and Trump got impeached!
  8. I’m outraged that the FBI was given Hunter Biden’s abandoned laptop computer, the hard-drive of which contained emails reflecting the corrupt practices of the Biden family vis-à-vis Ukraine and China and the FBI did nothing with it since crazy ol’ Joe was running for President.  Can you say: “Hillary Clinton and unauthorized servers containing top secret documents?”  Do you see a pattern here?
  9. I’m outraged that the “New Oligarchs” of high tech are censoring virologists of their right to voice their thoughts and opinions when those opinions are in conflict with the Democrat Party or the CDC.
  10. I’m outraged that an agency for which I proudly worked for nearly 29 years was politicized and corrupted by James Comey who was accurately described as being “out of his mind” and a “crooked cop” by a former Deputy Director of the FBI.
  11. I’m outraged that thirteen U.S. Marines were recently killed in Afghanistan by the Taliban just because our senile President was too arrogant to follow the blueprint put together by President Trump and his military advisers for the “conditioned” withdrawal of forces from Afghanistan.  Perhaps, you and our incompetent Secretary of Defense objected, but were either too cowardly or too busy promoting Critical Race Theory to push back and provide needed oversight of this withdrawal.  You succumbed to “Trump Derangement Syndrome” and now, as a result, you have the blood of thirteen dead Marines on your hands.
  12. I’m outraged about how the precipitous withdrawal of U.S. military personnel from Afghanistan was carried out “before” securing the removal of tens of thousands of U.S. citizens, Afghani interpreters, and others who assisted the U.S. military over the past twenty years, leaving them and Afghani Christians to be tortured and killed by the Taliban.  And you didn’t even give advance notice to our NATO allies.
  13. I’m outraged that you and Lloyd Austin carried out the withdrawal of the U.S. military without first securing the removal of $85 billion worth of military equipment, weapons, ammunition, Humvees, and aircraft, which you left behind for the Taliban, al Qaeda, and a re-emerging ISIS to use.  I agree with a retired British Colonel who recently publicly stated that President Biden shouldn’t be impeached, but rather he should be court martialed.  You should be, as well…for dereliction of duty and cowardice.

I could go on but I believe you get “my drift” as to why I and so many others – white, black, Hispanic, Asian, male and female, rich and poor, young and old – are experiencing flashes of “rage” and “anger” against this current administration.  If you had any honor and decency, you would resign and retire.

Sincerely,

Quentin L. Smith

Amen and thank you sir!!

Originally posted 2021-09-09 13:56:22.

Current Events, Recent Posts

A Little History

4 Comments

Failure in Afghanistan Has Roots in the All-Volunteer Military

For the past three decades, careerism among senior officers coupled with the disconnect between the American public and the All-Volunteer Force have led to failed and unnecessary overseas military interventions.
By Paul Cavallo

September 2021
Proceedings
Vol. 147/9/1423

The tragedy that unfolded over the past several weeks in Afghanistan began with the creation of the “all-volunteer” military in 1973 and the self-promoting careerism that has stalked the Pentagon ever since. Too few leaders have been willing to speak truth to power and say no to overseas military adventurism that had little bearing on the safety and security of this nation. And it goes without saying that those in charge when the war begins are never those who have to finish it.

We saw this most clearly when, in 1990-91, America sent its young warriors into the deserts of the Middle East. We called it “The Gulf War” and “Desert Storm,” but it was, in reality, America’s first mercenary war. The Bush administration cut a deal with the Saudis and Kuwaitis: our men, their money. Kuwaiti “princes” lived large in hotels from Saudi Arabia to Paris while our young soldiers and Marines dug fighting holes in the desert under a searing sun.

U.S. Marines in Desert Storm
U.S. Marines in Operation Desert Storm in 1991. (Naval Institute archives)
The peacetime, all-volunteer military, after all, was a good job with benefits and perks. And that “war” went relatively well and quickly with few American servicemembers killed or injured, to the high praise of the U.S. public who were entranced, awed, and seduced by the lethality, performance, and accuracy of our high-tech weapons, while forgetting that the troops on the ground, in the desert, held it all together and made the irrefutable success of the war possible. Yet it was also the start of the forever wars. Saddam Hussein remained in power after the war and the U.S. military remained in the Middle East—enforcing no-fly zones and oil embargoes on Iraq with naval forces in the Persian Gulf and air and land forces based in Kuwait, Bahrain, and Saudi Arabia.

While it might be a “chicken or the egg” argument, it is hard not to see that the permanent increase of U.S. military presence in the Middle East went hand in hand with the rise of militant Islam and anti-American terrorism. How many Americans remember the 1996 terrorist bombing of a U.S. Air Force barracks in Khobar, Saudi Arabia? Nineteen U.S. servicemembers were killed and 498 wounded. Two years later, the embassy bombings in Tanzania and Kenya killed 12 Americans and hundreds of civilians and wounded 4,500 people. Then came the October 2000 attack on the USS Cole (DDG-67) in Aden, Yemen, killing 17 sailors and injuring dozens of others. Less than a year later came the 9/11 attacks, answered shortly by the U.S. invasion of Afghanistan. A little over a year later, under the false pretense that non-existent Iraqi weapons of mass destruction would be used against the United States, came the invasion of Iraq.

Khobar Towers bombing in 1996 in Saudi Arabia
The 1996 Khobar Towers bombing in Saudi Arabia killed 19 U.S. servicemembers and injured nearly 500 more. 

By the end of 2003, U.S. special operations forces had completed much of their mission in Afghanistan to capture or kill senior leaders and high-value targets within both al-Qaeda and the Taliban. The Pentagon, however, rather than putting their “swords” away somehow decided to “nation build” a medieval land of warring tribes into a Western-style democracy, ignoring the fact that our democracy took centuries and many great wars to achieve.

For the past 31 years, the brunt of the cost has been borne by the all-volunteer force. The majority of American citizens have not served (none were required to), and most know few who have. A few dozen—or even a few hundred—servicemembers killed per year was the cost of doing business. But where were the generals and admirals who should have stood up to the civilian leaders, without compromise, to say “enough,”—that foreign wars too often leave our soldiers, sailors, airmen and Marines dead and forgotten, and for what? Were the military’s senior leaders just following along in-line, waiting for their moment, their chance for another star, or a richly coveted post-retirement job with a “vendor.” Were they just inured to the burdens of the profession? Unable to see the giant machine in which they were cogs—the failed foreign policy that resulted in the spilling of blood and national treasure for questionable (if any) gain.

It is no surprise that the “war” in Afghanistan eventually became a bottomless money pit. More than a trillion dollars was spent; did it make our nation safer, or did it just make Washington-connected corporations rich? Some of that money was funneled back to Congress through campaign donations and favors, all the while young Americans were being killed and wounded. Walk into any Veterans Administration hospital and see first-hand the reality that was brought home.

So, with the most recent deaths and injuries at Kabul International airport—clearly caused by a lack of planning, foresight, and courage at the top—we witness more evidence of the ongoing tragedy and travesty that is American “foreign policy” and the willingness of senior military leaders to go along with it. Will we ever learn? History suggests, no.

Postscript: While some commenters on the  actual article disagree with the author, I do not. I understand where he is coming from and follow his line of thought completely. The disconnect between the American public in general and the military and their assigned missions is indeed relevant. A quick “war story” if I may.

Serving as a temporary Chief of Staff at a command when the actual made a quick decision to retire, I had to handle my job as well for a few months while the Corps had to find a colonel for the billet. After a few months of this double duty my general, a fresh-caught BG, comes in my office with a cup of coffee to shoot the bull. Out of the blue he calmly says, Jim you know you will never make general.” To which I laughed telling him all I ever wanted to be was a Gunny. He asked if I wanted to know why, and of course I knew he wanted to tell me so I said yes.

He told me he knew several generals who would jump at having me as their COS because I had a knack of letting seniors (and juniors) know that if they cannot handle your answer they should never ask me the question. He said generals cannot do that. They must always speak the party line or they will never move above one star, which is why so many generals retire as a BG. They spoke outside the party line once and were passed over, or they  want nothing to do with it and retire.

Personally, I took his comments as compliment as that philosophy helped me to rise from private to colonel, and I was not about to change it. When a general speaks, understand he is never telling you what he truly believes in his heart. He is simply a mouth piece for the admisntration at the time.

Originally posted 2021-09-07 10:06:43.

Current Events

Labor Day?

Since today is that day, here’s a look at what this holiday really means and how it came about. I learned something and I am sure you will also. From my favorite blogger, a Marine , and brother — Mustang. I loved it. Your comments here after you read it please.

Click on this link and ne enlightened.

Why Do Americans Celebrate Labor Day?

Originally posted 2021-09-06 14:13:09.