Numerous commentators—especially those defending President Biden’s economic record—have puzzled over why Americans are sour about the state of the U.S. economy. Unemployment rates have returned to pre-pandemic lows, commentators correctly point out, and the official rate of inflation is declining. So why are Americans ignoring the view of many experts that the economy is doing well?
According to a striking new paper by a group of economists from Harvard and the International Monetary Fund, headlined by former Treasury Secretary Larry Summers, the answer is that Americans have figured out something that the experts have ignored: that rising interest rates are as much a part of inflation as the rising price of ordinary goods. “Concerns over borrowing costs, which have historically tracked the cost of money, are at their highest levels” since the early 1980s, they write. “Alternative measures of inflation that include borrowing costs” account for most of the gap between the experts’ rosy pictures and Americans’ skeptical assessment.
“Backlash Is Real‘: DEI Exodus Gains Steam Across Corporate America.”
The unraveling of “diversity, equity, and inclusion” initiatives was seen on the state level, as Red states rushed to ban DEI programs in 2023. Google, Facebook, and other tech companies slashed DEI staff by late last year. Early this year, universities began rolling back diversity programs, while Harvard President Claudine Gay was demoted.
DEI was doomed to fail, and corporations have been quickly scrambling to abandon mindless and profitless diversity programs with Marxist roots. The latest earnings call data shows that “DEI” mentions have collapsed from their peak in 2021, according to Axios, citing data from AlphaSense.
In January, Johnny Taylor, president of the Society for Human Resource Management, told Axios that corporate executives are fed up with DEI.
“The backlash is real. And I mean, in ways that I’ve actually never seen it before,” Taylor said, adding, “CEOs are literally putting the brakes on this DE&I work that was running strong” since George Floyd’s murder in early 2020.
Kevin Clayton, senior vice president and head of social impact and equity for the Cleveland Cavaliers, said the chief diversity officer role was all the rage across corporate America after Floyd’s murder. He said companies filled these positions “out of gilt,” and hiring wasn’t the best.
Axios noted, “Some businesses are cutting back funding, trimming DEI staff — and even considering pulling back on things like employee resource groups comprised of workers of various races, ethnicities or interests.”
The pushback on DEI is finding momentum across corporations and universities. Subha Barry, former head of diversity at Merrill Lynch, told Bloomberg last month: “We’re past the peak.”
Let’s hope so.
No one at the wheel: “Biden Reportedly Has No Idea He Issued ‘Trans Day Of Visibility’ Proclamation.”
Gen Z hates the lousy Biden economy and favors Trump over Biden. Though a word to those Gen Z sorts who complain about a 9-5 schedule being “unnatural”: A “natural” schedule is performing backbreaking hunter/gatherer or subsistence agriculture work from dawn to dusk 6-7 days a week and dropping dead before you turn 40…
Ukrainian drones hit a Russia drone production facility at Yelabuga, Tatarstan, which is almost 1,000 miles inside Russia, using a drone that looks a whole lot like a light aircraft.
Ukraine hits another Russian airbase with over 40 drones, and presumably took out even more Su-34s.
Whoops, make that three Russian airbases hit. including reports of three Tupolev Tu-95 “Bear” bombers damaged. (Yes, Russia still has a propeller-driven bomber in service. It can carry nuclear weapons and launch cruise missiles.)
Gun crimes evidently mean being released without bail if the perp is an illegal alien.
“Cost estimates more than double to replace failing Austin arts center building.” Note the “Extended community engagement: $1 million” which is code for “Payoffs to leftwing activists.” (Hat tip: Dwight.)
“Paxton Seeks to Investigate Boeing Parts Supplier, DEI Initiatives. Attorney General Ken Paxton is seeking to investigate Spirit AeroSystsems after public outrage involving Boeing’s aircraft manufacturing issues.”
Boeing stated in 2022 that “for the first time in our company’s history, we tied incentive compensation to inclusion.”
Boeing’s 2023 Global Equity, Diversity, and Inclusion report explains that “diversity must be at the table for every important decision our company makes – every challenge we face, every innovation we design. Equity, diversity and inclusion are core values because they make Boeing — and each of us individually — better.”
According to the report, racial and ethnic minorities now hold 41.4 percent of jobs in the U.S. Boeing Commercial Airplanes Unit, and 28.3 percent in the U.S. Boeing Defense, Space, and Security. In 2022, U.S. racial and ethnic minorities made up 47.5 percent of new hires at Boeing.
You know what I want at the table for every important Boeing decision? Planes not falling out of the sky.
Intel lost $7 billion last year. Intel has a technology roadmap to get its process tech back on track, but failure to execute on previous nodes is what got them into this mess.
In addition to having fingers in the pie in Syria and Yemen in addition to their proxy war with Israel, Iran also has to deal with Sunni Baluch separatist organization Jaish al-Adl (“Army of Justice”) on their own territory, where they killed at least 11 Iranian security force members.
“Belew, Vai, Levin and Carey Play 80’s King Crimson.” Sign me up. Edited to Add: Crap, tickets went on sale for the Austin show in September TODAY. I was just barely able to snag two tickets in nosebleed…
Happy Black Friday, everyone! (Here’s my prepping/gift guide, if you haven’t seen it already.) I hope everyone had a great Thanksgiving. Some interesting international election results, unreasonable gun control legislation gets struck down in two different states, more legal trouble for Houston Democrats, and a weed company goes bankrupt. It’s the Friday LinkSwarm!
The average price American families will have to pay to celebrate Thanksgiving with a traditional dinner will be the most expensive in history after years of sky-high inflation that experts attribute partially to President Joe Biden’s policies, according to data from the Bureau of Labor Statistics (BLS).
The price of all goods has risen dramatically under Biden following a period of sustained high inflation, which peaked at 9.1% in March 2022 and has since remained elevated, measuring at 3.2% in October, while the index for food rose 3.3% year-over-year for the month. The total increase in costs for a Thanksgiving dinner is about 26% since the beginning of Biden’s term, culminating in the most expensive Thanksgiving dinner in history.
Don’t buy the cookies. “Girl Scouts To Host Training Sessions On ‘Internalized Racism,’ ‘White Supremacy Culture.'” (Hat tip: Instapundit.)
In a surprising turn of events, Argentina has elected the libertarian outsider Javier Milei as its new president. The hotly contested presidential run-off saw Milei defeating left-wing candidate Sergio Massa — a consequential shift in the country’s political landscape. Massa brusquely conceded on Sunday night, stating, “Milei is the president elected for the next four years.”
The victory of Milei, a self-proclaimed “anarcho-capitalist,” introduces an unconventional leader with what are considered to be radical economic views relative to Argentina’s neighbors. His campaign, characterized by anti-establishment rhetoric and metaphorical gestures such as wielding a chainsaw to show his fervor for cutting taxes, resonated with voters frustrated by Argentina’s economic decrepitude, including triple-digit inflation. One of Milei’s key proposals is the adoption of the U.S. dollar as Argentina’s national currency, an unprecedented move for a country of its size (Argentina is home to some 45.8 million people).
Massa — a lifelong politician and representative of Argentina’s left-wing political establishment — emphasized his government’s actions to address inflation during his tenure.
But Milei’s appeal, particularly among the younger generation, suggests a desire for change to break free from the cycle of economic crises.
Milei’s victory has produced excitement and concern alike. While some see him as the catalyst for much-needed economic reforms, others fear the potential austerity measures tied to his plans, such as shutting the central bank and slashing spending. Despite the uncertainty, Milei’s supporters view him as the only viable option to break the political status quo and address Argentina’s persistent and extreme economic challenges.
The election is not just a political shift but also a generational one, with Milei’s popularity among the youth reflecting a desire for a new direction. The effect of Milei’s win extends beyond Argentina’s borders, potentially influencing trade relationships, especially with his criticism of China and Brazil and his preference for stronger ties with the United States. As for the U.S., the hour is late, and we’ll take all the friends we can get, and Argentina is doubly welcome because the Millennium must be nigh if a libertarian won an election outside of New Hampshire.
Note: Linking to MSN rather than NRO because the latter has now raised it’s war against ad-blockers to obnoxious levels. Year-by-year, the TDS-infected NR has become ever-more sad and useless.
Geert Wilders, the Dutch populist whose anti-Islam comments have led to death threats, could become the next leader of the Netherlands following an election upset for his Freedom Party (PVV) on Wednesday.
After 25 years in Dutch politics without holding office, Wilders was set to lead coalition government talks and has a good chance of becoming prime minister.
An exit poll on Wednesday evening showed the PVV in a clear lead, 10 seats ahead of its closest rival, Frans Timmermans’ Labour/Green Left combination.
“We will have to find ways to live up to the hopes of our voters, to put the Dutch back as number one”, Wilders said in his first response, adding that “the Netherlands will be returned to the Dutch, the asylum tsunami and migration will be curbed.”
Maryland is one of 14 states that require background checks for all firearm purchases, whether or not the seller is a federally licensed dealer. Since 2013, Maryland has imposed an additional requirement on handgun buyers: They must first obtain a “handgun qualification license,” which entails completing at least four hours of firearm training and undergoing a seemingly redundant “investigation” aimed at screening out people who are legally disqualified from owning guns. According to the U.S. Court of Appeals for the 4th Circuit, that process, which can take up to 30 days, violates the Second Amendment.
In a decision published on Tuesday, a divided 4th Circuit panel concluded that Maryland’s handgun ownership licensing system is not “consistent with this Nation’s historical tradition of firearm regulation”—the constitutional test that the U.S. Supreme Court established last year in New York State Rifle & Pistol Association v. Bruen. Writing for the majority in Maryland Shall Issue v. Moore, 4th Circuit Judge Julius Richardson notes that Bruen “effected a sea change in Second Amendment law,” making a variety of gun control laws newly vulnerable to constitutional challenges. Maryland’s handgun licensing law is the latest example.
Speaking of unconstitutional gun laws being struck down: “It turns out that bullets are an essential part of a gun, and limiting the number of rounds in a gun violates the Oregon constitution. A county judge in Oregon made that decision on Tuesday overturning Measure 114, a citizen-passed measure that outlawed what gun grabbers call ‘high capacity magazines’ and required that Oregon serfs get a permit to be allowed to purchase a gun.” (Hat tip: Stephen Green at Instapundit.)
Funny how no Arab nation wants to take in Palestinians. They know the simple truth: They suck.
The Palestinians tried to take over Jordan in the 1970s, leading to the late King Hussein declaring war on them and driving them out. They were booted from Kuwait after collaborating with Saddam Hussein’s forces before the Gulf War. They set off a powder keg in Lebanon, a nation that has yet to recover from its brutal civil war that lasted 15 years. No Arab country wants these people because they bring instability and trouble.
Outgoing Houston Mayor Sylvester Turner gets to enjoy a new host of scandals on his way out.
As term-limited Houston Mayor Sylvester Turner finishes his final days at the helm of the state’s most populous city, a new set of scandals have emerged over city contracts and a dispute over who will pay for a book touting the mayor’s legacy.
In the most recent dustup, an investigation by Houston’s KPRC 2 discovered that city contracts for much-needed water repairs were awarded to two relatives of Houston Public Works (HPW) employee Patrece Lee, including one for $4.5 million to Lee’s brother, who had only created his company six months before the city council approved the “emergency contracts.”
When KPRC reporter Amy Davis attempted to question Turner about the issue at a public event last week, Turner became irate and told his communications director to escort Davis from the room.
“You are not going to get away with this,” said Turner to Davis. “You are rude.”
Late Friday, HPW Director Carol Haddock announced that the employee had been placed on leave while the city’s Office of the Inspector General investigated the allegations.
In another contract scandal, Houston Landing media reported last week that the Midtown Redevelopment Authority had referred information to law enforcement on a since-fired manager who allegedly steered more than $4 million in taxpayer-funded landscaping contracts to himself and another contractor.
The latest developments came hard on the heels of Turner’s squabble with Houston First Corporation, the city’s marketing organization. During the “State of the City” luncheon last September, hosted by Houston First, attendees were given copies of Turner’s book “A Winning Legacy,” which celebrates the mayor’s accomplishments during his eight years in office.
As first reported by Bill King, Turner told President and CEO Michael Heckman that Houston First must pay a $123,979 invoice for the 600 copies, but Heckman refused, saying it was not in the corporation’s budget and not an appropriate expense. Houston First Chairman David Mincberg later told FOX 26 that the corporation would develop a strategy to raise private funds to pay for the books.
Controversy has also surrounded Turner’s management of city finances. Last year, Controller Chris Brown warned that the city was using $160 million in federal COVID-19 relief funds to plug budget holes and even to cover ongoing expenses.
Speaking of governments in trouble for spending Flu Manchu funds on other priorities, Germany is also in trouble for pulling the same trick after their high court told them to stop. As Europeans, spending within their means is unacceptable, so they’re now plotting to suspend debt limits…
Texas Governor Greg Abbott endorses Donald Trump for President. This is interesting in that Abbott is a careful, cautious Republican, who might be more ideologically inclined to endorse Ron DeSantis or Nikki Haley. That Abbott has endorsed Trump indicates he thinks Trump is a lock for the 2024 nomination. He may be right.
“Stacey Abrams’ Brother-In-Law Arrested, Accused Of Human Trafficking, Choking Underage Girl…Jimmie Gardner, a well-known Georgia-based youth motivational speaker, is accused of human trafficking, lewd or lascivious touching, and battery…According to the Tampa Police Department, Gardner invited a 16-year-old girl to his hotel room in the early hours of Friday, offering to pay her for sexual acts.” Sounds like the wrong sort of youth motivation…
…don’t need any of that newfangled computerized vote fraud. No sirree! They do things the old fashioned way: By handing out cash to homeless people.
“Videotape shows individuals being dropped off in black Suburbans and Expeditions and entering City Hall to vote. When they exit, a man takes out what appears to be a large bundle of cash and peels off a bill for each individual.” Old school!
Bonus: The man dropping people off appears to be Springfield Democratic mayoral candidate Justin Hurst himself. It’s not often you get candidates with the pluck, verve and raw stupidity to commit their own hands-on election fraud. Usually they delegate that sort of thing to underlings. (More experienced criminals call that underling “the cutout.”)
“According to sworn affidavits from the election workers, many of the people who came in they listed their address as being being a local homeless shelter. Furthermore, the affidavits claim that many of these voters who came inside were noticeably either drunk or under the influence of drugs, and many of them were confused about why they even came to City Hall in the first place.”
“One of the election workers wrote in her affidavit that she saw a man hovering over some of the voter shoulders while they were standing at the voting booth. At times he appeared to be pointing at the place on the ballot where the persons should vote.”
“Many of these individuals came up to them multiple times throughout the day and asked them where they’re supposed to go in order to get the $10 that they were promised as payment.”
“I had seven people ask me directly where they their $10 payment was. One man said in Spanish vote for Hurst and you’ll get $10.”
And yes, the exchange of money outside City Hall is on camera.
Five poll workers signed sworn affidavits attesting to the voting fraud.
Naturally, Hirsch swears up and down not voting fraud occurred.
“It is patently illegal to exchange money for votes within the Commonwealth of Massachusetts. Here’s specifically what the relevant part of the relevant statute: ‘No person shall directly or indirectly pay, give, or promise to a voter any gift or reward to influence his vote, or to induce him to withhold his vote.'” I’m pretty sure every state in the union has similar statutes.
At the current time, it does not appear that Mr. Hurst has been indicted…
The Biden family and its business associates created a complicated web of more than 20 companies, according to bank records obtained by the House Oversight Committee — a system, GOP lawmakers say, that was meant to conceal money received from foreign nationals.
Sixteen of the companies were limited liability companies formed during Joe Biden’s tenure as vice president, the committee said in a press conference on Wednesday. The Biden family, their business associates, and their companies received more than $10 million from foreign nationals’ and their related companies, the records show. These payments occurred both while Biden was in office as vice president and after his time in office ended.
In what Representative Nancy Mace called an act of “financial gymnastics,” many payments were routed from foreign companies to the Biden family’s business associates’ companies which then doled out payments to the Bidens in incremental payments to different bank accounts in an alleged attempt to hide the source of the funds.
At least nine Biden family members received payments, according to committee chairman James Comer. That includes Hunter Biden; James Biden; James Biden’s wife, Sara Jones Biden; the late Beau Biden’s wife, Hallie Biden; Hunter Biden’s ex-wife, Kathleen Buhle; Hunter Biden’s wife, Melissa Cohen; and “three children of the president’s son and the president’s brother.”
Much of the money came from Chinese nationals and companies with ties to the Chinese Communist Party. Multiple Biden family members received money after it passed through an associate’s account. Comer said of the countries the Biden family was influence peddling in, China is “the most reputable.”
The committee revealed Wednesday that records suggest the Biden family and its associates’ business dealings in Romania “bear clear indication of a scheme to peddle influence” from 2015 to 2017.
At the time, then-Vice President Biden spoke out against Romanian corruption while the Biden family received more than a million dollars from a company controlled by a Romanian national, Gabriel Popoviciu. Popoviciu, who has been accused of corruption, sent the money through a Biden family associate, according to the committee. Sixteen of the seventeen payments involved in the deal occurred while Biden was still in office. The money “stops flowing from the Romanian national soon after Joe Biden leaves the vice presidency,” Comer said.
The Bidens also received “millions of dollars from China,” with Comer saying it is “inconceivable that the president did not know” about the payments.
Comer said the information revealed Wednesday is the result of subpoenas to four different banks and stressed that the committee is still early in its investigation and believes there are as many as 12 banks with records relevant to its investigation.
Naturally, the mainstream media are doing their very best to ignore these revelations…
You might have noticed a meme floating around the media about how Britons could become “no better off than people living in Poland”. “If the UK continues with the same level of growth it has seen for the last decade,” writes Sam Ashworth-Hayes, “Poland will be richer than Britain in about 12 years’ time”:
It sounds like an absurd idea that in 2040 we might see complaints in the Polish press about a flood of British plumbers undercutting wages, or Brytyjski Skleps lining the rougher areas of Warsaw, but it isn’t beyond the realms of possibility.
This talking point has also appeared in the Telegraph, the Express and the Financial Times. It often comes with a sense of vague alarm and bewilderment. Poland? The post-communist place? Don’t they live entirely off vodka and potatoes? Don’t they have horses clippety-cloppeting down the streets selling women’s underwear pinched off a truck in Germany? Poland?
Having lived in Poland for nine years, I can say that I am not at all surprised by these projections. To be clear, that is all they are — projections. A lot can change in nine years, in Britain and in Poland.
Still, I think a lot of British people would be surprised by how much better things can be in the land of Lech Wałęsa and John Paul II. Equally, a lot of Polish people would be surprised by how much worse things can be in Britain — given that a lot of Poles of my acquaintance appear to think that getting rich in the U.K. is as easy as walking outside with a wheelbarrow and catching the banknotes that rain down from the sky.
Britain has had minimal economic growth for years. Poland has long been enjoying some of the highest economic growth in Europe. It even emerged from the pandemic better off than other European nations with, as Paweł Bukowski and Wojtek Paczos wrote for the LSE, “a relatively lax approach to economic lockdown and a bit of sheer luck”.
Institutions often seem to work better as well. I can generally visit a GP on the day I call. Britons often have to wait for more than a week. Maternal mortality is higher in the UK — and infant mortality is about the same, despite Britain being much richer overall. Actually, Polish life expectancy as whole is just a touch shorter than British life expectancy, despite the nation having a lot more smokers.
Polish kids have ranked higher on the PISA education rankings than British kids — ranking, indeed, the third highest in Europe in science and maths, and the fourth in reading comprehension. Poland is a more peaceful place than Britain, with murder and rape generally being rarer (granted, statistics in the latter case are famously difficult to trust). Terrorism, for reasons I leave to the reader, has been almost non-existent in Polish society.
Some Polish achievements are more difficult to quantify. In Britain, the 20th century was marked by a curious habit of ripping down beautiful buildings and constructing ugly ones. Poland, meanwhile, has been beautifully renovating and reconstructing many of its urban spaces, pursuing a philosophy of “preservation meets modernisation”. Warsaw and Kraków are famous enough, but travellers could also visit lovely towns and cities like Wrocław, Toruń and Gdańsk — or my own, Tarnowskie Góry.
Also, Poland seems to have actual conservatives who aren’t afraid to push for the right policies, instead of timid functionaries scared of their own shadow.
Last quarter, Disney+ lost 2.4 million subscribers. But this quarter is different! This quarter, Disney+ lost 4 million subscribers.
Related. “They got these ulterior motives, and you know, it’s about this this sort of political shit. And, yeah, I guess that’s part of it. But a lot of it is just these guys are just fucking stupid.”
Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping. The “magic” behind Block’s business has not been disruptive innovation, but rather the company’s willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics.
There’s also a negative side.
Even the summary is pretty breathtaking in the rang of allegations:
Most analysts are excited about the post-pandemic surge of Block’s Cash App platform, with expectations that its 51 million monthly transacting active users and low customer acquisition costs will drive high margin growth and serve as a future platform to offer new products.
Our research indicates, however, that Block has wildly overstated its genuine user counts and has understated its customer acquisition costs. Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual.
Core to the issue is that Block has embraced one traditionally very “underbanked” segment of the population: criminals. The company’s “Wild West” approach to compliance made it easy for bad actors to mass-create accounts for identity fraud and other scams, then extract stolen funds quickly.
Even when users were caught engaging in fraud or other prohibited activity, Block blacklisted the account without banning the user. A former customer service rep shared screenshots showing how blacklisted accounts were regularly associated with dozens or hundreds of other active accounts suspected of fraud. This phenomenon of allowing blacklisted users was so common that rappers bragged about it in hip hop songs.
Block obfuscates how many individuals are on the Cash App platform by reporting misleading “transacting active” metrics filled with fake and duplicate accounts. Block can and should clarify to investors an estimate on how many unique people actually use Cash App.
CEO Jack Dorsey has publicly touted how Cash App is mentioned in hundreds of hip hop songs as evidence of its mainstream appeal. A review of those songs show that the artists are not generally rapping about Cash App’s smooth user interface—many describe using it to scam, traffic drugs or even pay for murder…
“I paid them hitters through Cash App”— Block paid to promote a video for a song called “Cash App” which described paying contract killers through the app. The song’s artist was later arrested for attempted murder.
Cash App was also cited “by far” as the top app used in reported U.S. sex trafficking, according to a leading non-profit organization. Multiple Department of Justice complaints outline how Cash App has been used to facilitate sex trafficking, including sex trafficking of minors.
There is even a gang named after Cash App: In 2021, Baltimore authorities charged members of the “Cash App” gang with distribution of fentanyl in a West Baltimore neighborhood, according to news reports and criminal records.
Beyond facilitating payments for criminal activity, the platform has been overrun with scam accounts and fake users, according to numerous interviews with former employees.
Examples of obvious distortions abound: “Jack Dorsey” has multiple fake accounts, including some that appear aimed at scamming Cash App users. “Elon Musk” and “Donald Trump” have dozens.
To test this, we turned our accounts into “Donald Trump” and “Elon Musk” and were easily able to send and receive money. We ordered a Cash Card under our obviously fake Donald Trump account, checking to see if Cash App’s compliance would take issue—the card promptly arrived in the mail.
Former employees described how Cash App suppressed internal concerns and ignored user pleas for help as criminal activity and fraud ran rampant on its platform. This appeared to be an effort to grow Cash App’s user base by strategically disregarding Anti Money Laundering (AML) rules.
The COVID-19 pandemic and nationwide lockdowns posed an existential threat to Block’s key driver of gross profit at the time, merchant services.
In this environment, amid Cash App’s anti-compliance free-for-all, the app facilitated a massive wave of government COVID-relief payments. CEO Jack Dorsey Tweeted that users could get government payments through Cash App “immediately” with “no bank account needed” due to its frictionless technology.
Within weeks of Cash App accounts receiving their first government payments, states were seeking to claw back suspected fraudulent payments—Washington State wanted more than $200 million back from payment processors while Arizona sought to recover $500 million, former employees told us.
Once again, the signs were hard to miss. Rapper “Nuke Bizzle”, made a popular music video about committing COVID fraud. Several weeks later, he was arrested and eventually convicted for committing COVID fraud. The only payment provider mentioned in the indictment was Cash App, which was used to facilitate the fraudulent payments.
We filed public records requests to learn more about Block’s role in facilitating pandemic relief fraud and received answers from several states.
Massachusetts sought to claw back over 69,000 unemployment payments from Cash App accounts just four months into the pandemic. Suspect transactions at Cash App’s partner bank were disproportionate, exceeding major banks like JP Morgan and Wells Fargo, despite the latter banks having 4x-5x as many deposit accounts.
In Ohio, Cash App’s partner bank had 8x the suspect pandemic-related unemployment payments as the bank that processed the most unemployment claims in the state, even though the latter bank processed 2x the claims as Cash App’s, according to data we obtained via a public records request.
The data shows that compared to its Ohio competitor, Cash App’s partner bank had nearly 10x the number of applicants who applied for benefits through a bank account used by another claimant – a clear red flag of fraud.
Block had obvious compliance lapses that made fraud easy, such as permitting single accounts to receive unemployment payments on behalf of multiple individuals from various states and ineffective address verification.
In an apparent effort to preserve its growth engine, Cash App ignored internal employee concerns, along with warnings from the Secret Service, the U.S. Department of Labor OIG, FinCEN, and State Regulators which all specifically flagged the issue of multiple COVID relief payments going to the same account as an obvious sign of fraud.
Block reported a pandemic surge in user counts and revenue, ignoring the contribution of widespread fraudulent accounts and payments. The new business provided a sharp one-time increase to Block’s stock, which rose 639% in 18 months during the pandemic.
As Block’s stock soared on the back of its facilitation of fraud, co-founders Jack Dorsey and James McKelvey collectively sold over $1 billion of stock during the pandemic. Other executives, including CFO Amrita Ahuja and the lead manager for Cash App Brian Grassadonia, also dumped millions of dollars in stock.
With its influx of pandemic Cash App users, our research shows Block has quietly fueled its profitability by avoiding a key banking regulation meant to protect merchants. “Interchange fees” are fees charged to merchants for accepting use of various payment cards.
Congress passed a law that legally caps “interchange fees” charged by large banks that have over $10 billion in assets. Despite having $31 billion in assets, Block avoids these regulations by routing payments through a small bank and gouging merchants with elevated fees.
Block includes only a single vague reference in its filings acknowledging it earns revenue from “interchange fees”. It has never revealed the full economics of this category, yet roughly one-third of Cash App’s revenue came from this opaque source, according to a 2022 Credit Suisse research report.
Competitor PayPal has disclosed it is under investigation by both the SEC and the CFPB over its similar use of a small bank to avoid “interchange fee” caps. A Freedom of Information Act (FOIA) request we filed with the SEC indicates that Block may be part of a similar investigation.
Block’s $29 billion deal to acquire ‘buy now pay later’ (BNPL) service Afterpay closed in January 2022. Afterpay has been celebrated by Block as a major financial innovation, allowing users to buy things like a pair of shoes or a t-shirt and pay over time, only incurring massive fees if subsequent payments are late.
Afterpay was designed in a way that avoided responsible lending rules in its native Australia, extending a form of credit to users without income verification or credit checks. The service doesn’t technically charge “interest”, but late fees can reach APR equivalents as high as 289%.
The acquisition is flopping. In 2022, the year Afterpay was acquired, it lost $357 million, accelerating from 2021 losses of $184 million.
Fitch Ratings reported that Afterpay delinquencies through March 2022 had more than doubled to 4.1%, from 1.7% in June 2021 (just prior to the announced acquisition). Total processing volume declined -4.8% from the previous year.
Block regularly hypes other mundane or predatory sources of revenue as technological breakthroughs. Roughly 31% of Cash App’s revenue comes from “instant deposit” which Block says it pioneered and works as if by “magic”. Every other major competitor we checked provides a similar service at comparable or better rates.
On a purely fundamental basis, even before factoring in the findings of our investigation, we see downside of between 65% to 75% in Block shares. Block reported a 1% year over year revenue decline and a GAAP loss of $540.7 million in 2022. Analysts have future expectations of GAAP unprofitability and the company has warned it may not be profitable.
Despite this, Block is valued like a profitable growth company at (i) an EV/EBITDA multiple of 60x; (ii) a forward 2023 “adjusted” earnings multiple of 41x; and (iii) a price to tangible book ratio of 13.1x, all wildly out of line with fintech peers.
Despite its current rich multiples, Block is also facing threats from key competitors like Zelle, Venmo/Paypal and fast-growing payment solutions from smartphone powerhouses like Apple and Google. Apple has grown Apple Pay activations from 20% in 2017 to over 70% in 2022 and now leads in digital wallet market share.
In sum, we think Block has misled investors on key metrics, and embraced predatory offerings and compliance worst-practices in order to fuel growth and profit from facilitation of fraud against consumers and the government.
We also believe Jack Dorsey has built an empire—and amassed a $5 billion personal fortune—professing to care deeply about the demographics he is taking advantage of. With Dorsey and top executives already having sold over $1 billion in equity on Block’s meteoric pandemic run higher, they have ensured they will be fine, regardless of the outcome for everyone else.
That’s just the high level summary. There’s a whole lot more detail in the report.
I have never once used Cash App. I have an ancient Square Reader floating around in a bag somewhere, but I never actually ran any transactions on it. I do have PayPal, because I pretty much have to in order to buy or sell on eBay (though I’ve gotten to the point I do almost no selling there). I don’t even use Apple Pay, despite having a MacBook Pro and iPhone.
Speaking of fees, here Louis Rossmann rants about how Square refuses to return fees for refunds:
Anyway, if you’re using Square or CashApp, maybe it’s a good time to look into alternatives…
Dwight sent over the text of a firearms case decision in “ESTADOS UNIDOS MEXICANOS, Plaintiff, v. SMITH & WESSON BRANDS, INC.” etc., or Mexico v Smith & Wesson et. al. (“Barrett Firearms Manufacturing, Inc.; Beretta USA Corp.; Century International Arms, Inc.; Colt’s Manufacturing Company, LLC; Glock, Inc.; Sturm, Ruger & Co., Inc.; and Witmer Public Safety Group, Inc. d/b/a Interstate Arms.”)
The lawsuit was filed in the United States District Court for Massachusetts (because venue shopping) and the decision was handed down by Chief Judge F. Dennis Saylor IV.
A U.S. federal judge on Friday dismissed a lawsuit brought by the Mexican government against U.S. gun manufacturers arguing their commercial practices has led to bloodshed in Mexico.
Judge F. Dennis Saylor in Boston ruled Mexico’s claims did not overcome the broad protection provided to gun manufacturers by the Protection of Lawful Commerce in Arms Act passed in 2005.
The law shields gun manufacturers from damages “resulting from the criminal or unlawful misuse” of a firearm.
Quoting the text of the decision itself (which does not yet appear to be online anywhere):
Unfortunately for the government of Mexico, all of its claims are either barred by federal law or fail for other reasons. The PLCAA unequivocally bars lawsuits seeking to hold gun manufacturers responsible for the acts of individuals using guns for their intended purpose. And while the statute contains several narrow exceptions, none are applicable here.
This Court does not have the authority to ignore an act of Congress. Nor is its proper role to devise stratagems to avoid statutory commands, even where the allegations of the complaint may evoke a sympathetic response. And while the Court has considerable sympathy for the people of Mexico, and none whatsoever for those who traffic guns to Mexican criminal organizations, it is duty-bound to follow the law.
Accordingly, and for the reasons set forth below, the motions
to dismiss will be granted.
Not a picture of Judge Saylor.
This, of course, is the proper outcome. Lawful American gun manufacturers can’t be held accountable for the misuse of their products, nor should they be made scapegoats for Mexico’s inability to control their own criminal cartels.
The Pennsylvania House voted Tuesday to hold Philadelphia District Attorney Larry Krasner in contempt for refusing to comply with a subpoena issued by a legislative committee searching for grounds to impeach him.
The chamber voted 162 to 38 — with support from 10 Philadelphia Democrats — to approve the resolution holding the city’s top prosecutor in contempt, a highly unusual move that even the measure’s sponsor told House colleagues he’d never seen before.
State Rep. John Lawrence — a Republican who represents parts of Chester and Lancaster Counties and chairs the select committee investigating Krasner — said the DA had “willfully neglected” the subpoena and was treating it like “a worthless piece of paper.”
“According to DOJ whistleblowers, Facebook has been spying on Americans’ private messages and reporting them to the FBI if they express ‘anti-government or anti-authority’ statements – including questioning the legitimacy of the 2020 US election.” More: “It was done outside the legal process and without probable cause,” said one of the whistleblowers, who spoke on condition of anonymity. “Facebook provides the FBI with private conversations which are protected by the First Amendment without any subpoena. According to one Post source, ‘They [Facebook and the FBI] were looking for conservative right-wing individuals. None were Antifa types.'”
Anyone with even the slightest knowledge of the state of the American academy today knows that employment discrimination runs rampant on campus. Not the old-fashioned kind where women, blacks, Jews, Catholics, Asians, gays, or communists were excluded from employment opportunities, but the modern Kendian variety, in which overt discrimination against white men (and, in many disciplines, Asian men as well) is embraced as official university policy and as a necessary part of being “antiracist.”
As Mark Perry has documented in hundreds of complaints he has filed with the Department of Education’s Office for Civil Rights, such “discrimination for the ‘right’ reasons” is as common on campuses today as empty Red Bull cans. Nor does anyone with any actual knowledge of employment law dispute that such overt and intentional sex and racial discrimination is patently illegal under federal law, and usually state law as well.
Why is this so? If such “no white / Asian guys need apply” practices are clearly illegal, how have they been allowed to not only stand but spread to all corners of campus?
Part of the reason is that under Grutter and Fisher II, the Supreme Court gave universities the benefit of the doubt when using racial and other demographic characteristics in admissions decisions. Rather than use race sparingly in admissions decisions, and in the narrow, surgical method the Supreme Court envisioned, universities instead have taken those decisions as a mandate to do whatever they want in not only admissions, but also employment and other areas.
Indeed, as I have noted before, university administrators often admit to overt discriminatory reasons for their DEI employment initiatives (e.g., the need to provide “role models”), despite the fact that the Supreme Court rejected such reasons as illegal decades ago. (Such abuse of the limited leeway the Supreme Court gave universities in admissions decisions is why many observers are predicting that the Supreme Court will end it in the upcoming term, when it decides cases challenging admissions practices at Harvard and the University of North Carolina.)
However, the main reason for the ubiquity of such practices is that only people who are, in fact, victims of such discriminatory practices have standing to sue to stop them. Leaving aside the serious economic challenges of litigating such a suit against a wealthy university, what would happen if you actually did so? E.g., “I exceed the posted qualifications for a tenure-track position at Enormous State University, but ESU’s official policy is that only BIPOC candidates are eligible for the position. As a white [or Asian] man I am ineligible for the position because of my race, and so I am suing ESU for racial discrimination in employment.”
In the woke monoculture that pervades most campuses today, being known as someone who took legal action to challenge a DEI initiative would render you radioactive and unemployable, not only at ESU but across most of the American academy. And even if you prevail in your lawsuit, you would thereafter be known as the guy who got an “antiracist” affirmative action employment program shut down. Given what the campus cancel culture mobs have done to people like Dorian Abbot who merely question the legality or morality of such programs, what do you think they will do to someone who actually succeeds in having them declared illegal? Ask Allan Bakke.
With universities perceiving no real risk of being sued, and with the Biden administration having about the same interest in neutrally enforcing federal discrimination law as it does in securing the southern border, university administrators know there is no serious risk to giving in to the demands of “antiracist” activists for official, overt discrimination against white and Asian men. That many state officials (including some red-state officials such as Texas Governor Greg Abbott) are too cowardly to do anything to resist the campus wokesters further compounds the problem. Like the days of Mob-controlled garbage collection in New York City, university administrators can say, “Yeah, what we’re doing is illegal. Whaddya gonna do about it?”
But just as the law eventually destroyed the Mob’s garbage cartels in the Big Apple, the law may finally be coming for the overt employment discrimination practiced on most campuses today. The form of the destructor may be a test case filed on September 10: Lowery v. Texas A&M University System.
As described in the complaint:
8. The Texas A&M University System, along with nearly every university in the United States, discriminates on account of race and sex when hiring its faculty, by giving discriminatory preferences to female or non-Asian minorities at the expense of white and Asian men. This practice, popularly known as “affirmative action,” has led universities to hire and promote inferior faculty candidates over individuals with better scholarship, better credentials, and better teaching ability.
9. These race and sex preferences are patently illegal under Title VI and Title IX, which prohibit all forms of race and sex discrimination at universities that receive federal funds. But university administrators think they can flout these federal statutes with impunity because no one ever sues them over their discriminatory faculty-hiring practices and the Department of Education looks the other way.
10. These discriminatory, illegal, and anti-meritocratic practices have been egged on by woke ideologues who populate the so-called diversity, equity, and inclusion offices at public and private universities throughout the United States. The existence of these offices is subverting meritocracy and encouraging wholesale violations of civil-rights laws throughout our nation’s university system.
Specifically, the complaint avers that in July 2022, Texas A&M’s “office for diversity” announced a program for hiring professors that was limited to members of “underrepresented groups,” which it defined as “African Americans, Hispanic/Latino Americans, Native Americans, Alaskan Natives, and Native Hawaiians.” In other words, like many DEI initiatives that pervade most university campuses today, white and Asian men need not apply for this program. Texas A&M justified the program with the goal of establishing a faculty whose racial composition attains “parity with that of the State of Texas”—despite the fact that even Grutter recognized that such racial balancing was “patently unconstitutional.”
Philadelphia’s soda tax backfires. “People shopping for sodas outside city limits canceled out almost 40% of the decrease in sugar-sweetened beverage purchases. Additionally, the soda pop tax actually led to about a 4% increase in purchases of other high-sugar goods in Philadelphia and in neighboring towns. But compared to the sugar decrease from sodas in Philadelphia, additional sweetened food purchases offset an additional 40%.”
Greetings, and welcome to the Halloween season! Manchin and Sinema are the only thing that stands in the way of a giant, economy-destroying meteor of leftwing pandering, energy crises ramp up in China and Europe, Biden nominates a commie, and more Flu Manchu shenanigans.
Inflation hits a 30 year high, yet Democrats are furious two of their own party aren’t letting them run even bigger deficits.
West Virginia Democratic Senator Joe Manchin calls the giant runway Porkulus fiscal insanity.
“What I have made clear to the President and Democratic leaders is that spending trillions more on new and expanded government programs, when we can’t even pay for the essential social programs, like Social Security and Medicare, is the definition of fiscal insanity,” Manchin said in a statement Wednesday.
Manchin says that any reconciliation bill must include a Hyde Amendment to bar federal taxpayer funding of abortion. I’m pretty sure Democrats would prefer kicking Manchin out of the party than give compromise on their holy of holies.
‘What if — and hear me out here,” writes Robert Reich, “we stopped letting two corporate Democrats singlehandedly block every single progressive policy we elected Democrats to pass?”
Okay, Robert. But how, exactly? The Democrats have 50 seats in the Senate. To pass a bill through reconciliation, the Democrats need 50 votes in the Senate. Two of the people who hold those 50 seats do not agree with the rest of the party on “every single progressive policy.” If the other 48 senators do agree — which is far from clear — the Democratic Party will have 48 votes for its agenda, two short of what it needs. Those two, not the Robert Reichs of the world, are the ones with the power to “stop” things.
“Should all of this just hinge on those two?” Representative Cori Bush (D., Mo.) asked yesterday. “Absolutely not.” But should doesn’t enter into it. The question is does “all of this” hinge on Sinema and Manchin? The answer is yes. Yes it does. And why? Because, again, “all of this” requires 50 votes in the Senate, and two of those votes aren’t on-board.
Underneath the complaints that Reich and Bush have leveled sits the erroneous implication that, come election time, American voters are obliged to press a button marked “Republican” or “Democrat,” and that, having done so, they are shipped a drone-like representative of the winning team from a central repository in Washington, D.C. Reich complains that “we elected Democrats.” But this is correct only in the aggregate. In fact, 50 different “we”s elected one hundred senators and 435 Representatives, who between them make up our majority and minority parties. There is nothing in this deal that obliges those emissaries to agree with one another.
Senators Manchin and Sinema are not a pair of uninvited interlopers who are unexpectedly gumming up the gears; they, themselves, are among the gears. This being so, the duo cannot be said to be “blocking” the Democrats’ de facto Senate majority so much as they are sustaining the Democrats’ de facto Senate majority. Why? Because their decision to caucus with the Democrats rather than the Republicans is the only reason that majority exists in the first place. To hear progressives talk, one would assume that in order to take one’s place within the firmament one must first swear a blood oath to Dick Durbin. Shockingly enough, one is obliged to do no such thing.
If there’s one thing we know about the looming debt limit crunch and the warnings about the dire consequences of default, it’s this: The government is not going to default.
The recurring brinksmanship over the debt limit and the partisan refusal to get Republican fingerprints on the increase don’t say much for our political class. But the U.S. Treasury isn’t full of stupid people, and they’ve been through this drill before. Back in July 2011, when the debt ceiling of $14.3 trillion was about to be reached, the Washington Post reported:
The Treasury has already decided to save enough cash to cover $29 billion in interest to bondholders, a bill that comes due Aug. 15, according to people familiar with the matter.
You can bet they’re making similar plans today. The difference is that 10 years later the debt ceiling is $28.4 trillion, just about doubled, and we’re about to bump into it again.
Back in that summer of discontent I talked to a journalist who was very concerned about the “dysfunction” in Washington. So am I. But I told her then what’s still true today: that the real problem is not the dysfunctional process that’s getting all the headlines, but the dysfunctional substance of governance. Congress and the president will work out the debt ceiling issue, probably just in the nick of time. The real dysfunction is a federal budget that doubled in 10 years, unprecedented deficits as far as the eye can see, and a national debt (more accurately, gross federal debt) yet again bursting through its statutory limit of $28.4 trillion and soaring past 120 percent of GDP, a level previously reached only during World War II.
The Cornell University law school professor [Saule Omarova]’s radical ideas might make even Bernie Sanders blush. She graduated from Moscow State University in 1989 on the Lenin Personal Academic Scholarship. Thirty years later, she still believes the Soviet economic system was superior, and that U.S. banking should be remade in the Gosbank’s image.
Snip.
Ms. Omarova thinks asset prices, pay scales, capital and credit should be dictated by the federal government. In two papers, she has advocated expanding the Federal Reserve’s mandate to include the price levels of “systemically important financial assets” as well as worker wages. As they like to say at the modern university, from each according to her ability to each according to her needs.
In a recent paper “The People’s Ledger,” she proposed that the Federal Reserve take over consumer bank deposits, “effectively ‘end banking,’ as we know it,” and become “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.” She’d also like the U.S. to create a central bank digital currency—as Venezuela and China are doing—to “redesign our financial system & turn Fed’s balance sheet into a true ‘People’s Ledger,’” she tweeted this summer. What could possibly go wrong?
The FBI’s annual report Monday made official what most unfortunately presumed: The United States in 2020 experienced the biggest rise in murders since the start of national record-keeping 60 years ago.
The Uniform Crime Report detailed a murder increase of nearly 30 percent.
The previous largest one-year change was a 12.7 percent increase back in 1968. The national rate of murders per 100,000, however, still remains about one-third below the rate in the early 1990s.
The FBI data show around 21,500 total murders last year, which is 5,000 more murders than in 2019. More than three-fourths of reported murders in 2020 were committed with a firearm, the highest rate ever reported.
Now before you start jumping to conclusions about a correlation between the leftist fever to defund the police and a huge jump in the nation’s murder rate, you should probably be aware of the fact that the Democrats want you to know that there’s no problem at all.
That’s right, the same people who want us all to live in mortal fear of being breathed on by a stranger at Kroeger are trying to poof away a pile of bodies.
Speaking of Flu Manchu, here’s NBA player Jonathan Isaac calmly explaining why he doesn’t feel he needs the vaccine:
This is a calm, intelligent, respectful statement as to why @JJudahIsaac is hesitant about getting the Covid vaccine. Instead of screaming at those who are still figuring it out, listen to his response. pic.twitter.com/Q1xMLw8boX
The Lancet just gives up on trying to determine the origins of Flu Manchu, much like OJ has given up on finding the real killers.
China is trying the classic idiot price controls strategy for its self-inflicted energy crisis:
China is officially panicking.
Now that the global energy crisis has slammed China’s economy, leading to the first contractionary PMI since March 2020 as a result of widespread shutdowns of factory and manufacturing, not to mention hundreds of millions of Chinese residents suffering from periodic blackouts, Bloomberg reports that China’s central government officials “ordered the country’s top state-owned energy companies to secure supplies for this winter at all costs.”
Translation: Beijing is no longer willing to risk social anger and going forward China will be subsidizing coil and nat gas, which will lead to even higher prices, which will lead to even higher prices for other “substitute” commodities such as oil, which is why oil surged on the news.
The news follows a report on Wednesday that China will allow soaring coal prices to be passed on to factories in electricity prices. But prepare for a surge in PPI, which will likely not be allowed to be passed on to CPI due to ‘common prosperity’. Which logically means margin collapse, and shutting down – so even more structural shortages. Unless we get state subsidies of some sort, or differential pricing for the foreign and domestic market. There used to be a name for that kind of economy. Wall Street used to pretend it didn’t like it.
“We don’t want normal,” said activist Earnest Greer. “We want radical change. What if everything goes back to the way it was without us completely dismantling and rebuilding the system?”
Liberals saw the pandemic as an opportunity to get people less clingy to individual freedom and more accepting of government planning significant parts of everyone’s lives. Normal would mean relinquishing that power, which is anathema to the Left.
Greetings, and welcome to the Friday LinkSwarm! President Trump’s approval rises among black people, more antifa behaving badly, and a look at just how badly Lebanon is screwed.
“President Trump’s approval rating among Black voters jumped by 60% during the Republican National Committee even as Democrats and progressives sought to brand the Republican president as racist. A HarrisX-Hill poll released Friday showed Mr. Trump’s net approval with Black voters from Aug. 22-25, which included the first two days of the RNC, rose to 24%, up from 15% in the pollster’s Aug. 8-11 survey.” If those numbers are accurate, and hold, all by themselves they could put Pennsylvania out of reach for Democrats, since they lost by 50,000 votes in 2016, and have to rack up huge black totals in Philadelphia to balance out their disadvantage in the rest of the state. (Hat tip: Instapundit.)
Dirtbag dirtnapped: “Michael Forest Reinoehl, 48, died in Lacey, Washington, where federal agents were attempting to take him into custody for the shooting — the same night his interview on the shooting aired on Vice News.”
President Trump is ordering the federal government to begin the process of defunding New York City and three other cities where officials allowed “lawless” protests and cut police budgets amid rising violent crime, The Post can exclusively reveal.
Trump on Wednesday signed a five-page memo ordering all federal agencies to send reports to the White House Office of Management and Budget that detail funds that can be redirected.
New York City, Washington, DC, Seattle and Portland are initial targets as Trump makes “law and order” a centerpiece of his re-election campaign after months of unrest and violence following the May killing of George Floyd by Minnesota police.
“My Administration will not allow Federal tax dollars to fund cities that allow themselves to deteriorate into lawless zones,” Trump says in the memo, which twice mentions New York Mayor Bill de Blasio by name.
“To ensure that Federal funds are neither unduly wasted nor spent in a manner that directly violates our Government’s promise to protect life, liberty, and property, it is imperative that the Federal Government review the use of Federal funds by jurisdictions that permit anarchy, violence, and destruction in America’s cities.”
The course of the nightly action against the PPB followed a fairly predictable pattern: a contingent of notional BLM protesters rendezvoused with a group of antifa black bloc at a public park close to their objective. As they moved towards the police building which was their target, “corkers” -a sort of bicycle-mounted blocking force- closed off side streets and the scouting line -typically on mopeds- moved ahead and on the flanks. Behind them came the main contingent of black bloc. Upon arrival at the PPB the streets were blocked with vehicles and burning dumpsters, with the “corkers” stationed to direct traffic away from the action and the scouts setting up a picket line extending out several blocks, watching for police reinforcements and creating the strong impression of antifa control of territory.
The black bloc then engaged in an steadily-escalating level of vandalism and property damage directed at their target, including unguarded police vehicles parked nearby. If uninterrupted, this quickly escalated to arson and serious destruction to the facilities.
By this point the scouting line often detected the flanking lines of riot police and a riot was formally been declared. Blocs armed with shields deployed defensively to allow time for the rest of the rioters to disengage. These “shield walls” provided a tempting target for a police “bull rush”, video of which can then be used for propaganda purposes. Behind the shield wall other bloc members threw commercial fireworks, frozen water bottles, and paint-filled balloons. The paint balloons are often mixed with sand or abrasive material that scratches clear shields and visors when cleaning is attempted damaging expensive riot suppression equipment. Meanwhile the main element of the antifa black bloc continued to retreat into bordering residential areas.
Antifa chooses the residential areas for specific reasons. As the police deploy flashbangs, tear gas, and assorted non-lethal munitions in order to control the ongoing riot, the disruptive effects are experienced by the local residents. Additionally, as the action moved further into the poorly-lit neighborhoods, small groups of rioters and black bloc would break off to either escape, or engage in vandalism against the original PPB target (if left unguarded) or other nearby targets of opportunity.
The action concluded at some point in the early morning hours, usually 4-5 hours after the assembly in the designated park. The location was almost always shifted to a different location every night, very rarely going to the same location on successive nights. This means it’s rare for the same location to be targeted more than twice in one week.
Plus suggested tactics on countering it.
“Flamethrower-Packing Antifa ‘Entered Fetal Position And Began Crying’ After Unsuccessful Escape From Cops.” This was in Green Bay, Wisconsin. I can’t believe I didn’t have a “flamethrower” tag until now.
Goya CEO Bob Unamue, tells Democrats that “the ‘hatred and destruction’ are moving Latinos to Trump.” Plus a comparison to communist enforcement mobs. (Hat tip: @txpoliticjunkie.)
Like a lot of observers at the time, I thought Trump had no real policy agenda to define his campaign beyond a vague pro-America sentiment and a withering disdain for the political establishments of both major parties. I thought his political inexperience was a liability, that his penchant for insulting his opponents would turn voters off, and that the GOP had missed an opportunity to defeat Hillary Clinton by nominating someone else—anyone, really, besides Trump.
But it turned out Trump was the best candidate to beat Clinton because Clinton embodied nearly everything voters had come to hate about America’s political class: the falsity, the naked hypocrisy, the barely disguised disdain for ordinary people. For all his obvious faults, Trump wasn’t a professional politician, had no record to defend, and was unconstrained by the conventions of ordinary political rhetoric. He was uniquely positioned to call out and exploit Clinton’s faults and shortcomings, and expose the contradictions at the heart of the Democratic Party.
For Republican voters, Trump offered the promise of something different from the seemingly endless pattern of politicians who promised one thing and did another, especially on immigration and free trade. For decades, incessant Republican boasting about “securing the border” never actually secured the border as mass illegal immigration continued apace. Expressions of sympathy for the American working class never produced policies that might actually help the working class. Trump zeroed in on these things, and his message resonated because it was true (and still is).
Joseph P. Kennedy III loses his senate primary to incumbent Ed Markey, who seemed to run to Kennedy’s left.
Speaking of members of the Kennedy clan running for office, NJ Democratic congressional candidate Amy Kennedy calls for lifting sanctions on Chinese companies. In one of those amazing coincidences, she also owns substantial amounts of Chinese stock. What are the odds? (Hat tip: Stephen Green at Instapundit.)
The Media Lynching of Kyle Rittenhouse. A liberal journalism professor not only omits the fact that Rittenhouse was attacked, but also thinks that the Kenosha riots will hurt Trump.
The effects of the explosion of nearly 3,000 tons of ammonium nitrate fertilizer in the port of Beirut, Lebanon on August 4th was not restricted to 170+ deaths and 3,000+ injuries. The explosion’s metaphorical shockwaves may prove to be the death knell of Lebanon’s domestic politics and economy. Both were already collapsing from extreme corruption even before COVID struck. Add an explosion that caused billions of dollars of damage to an already bankrupt country, and the result is a failed state in the making.
Lebanon is failing in no small part because the Shia terror group Hezbollah, which translates as “Army of God,” makes its home there. Hezbollah’s continued residency and effective Lebanese governance seem to be mutually exclusive propositions.
Except calling Hezbollah merely a terror group is too simplistic, and nothing in Lebanon is ever simple or easy to explain.
Hezbollah is responsible for countless murders, kidnappings, and terror attacks, including the 1983 suicide bombing of the US Marine barracks in Beirut that killed 241 Marines. But Hezbollah is also a charity operating in refugee camps. It’s a social service provider for Shia Lebanese, operating clinics, hospitals, and schools (which teach wildly anti-Semitic propaganda). It operates a satellite TV channel. It smuggles guns, sells drugs, and launders money. It has a finger in almost every pie in Lebanon, and influence in Syria, Iran, Iraq, the Northern Triangle countries of Central America (Guatemala, Honduras, El Salvador), and Venezuela. (Click to see the Washington Institute’s regularly updated interactive map of Hezbollah’s globe-spanning activities, and the actions taken to counter them.)
Beyond all that, Hezbollah is also a powerful paramilitary group with 30,000+ fighters, armed with tens of thousands of rockets, as well as precision munitions like guided ballistic missiles. Hezbollah fought Israel’s last incursion in Lebanon in 2006 to a standstill, and Hezbollah is often considered the winner of the clash, despite Israel’s access to the latest weapons tech.
Yet, like every other organization in Lebanon, Hezbollah is in very deep shit.
Lebanon’s current chaos is due to decades of previous chaos spawned of ongoing demographic and power shifts in the post-WWII era among Lebanon’s Maronite Christians, Sunni Muslims, Shia Muslims, and the Druze (a splinter Shia sect). The brutal Lebanese civil war fought by sectarian militias from 1975 to 1990 ended with a peace deal splitting political power along explicit sectarian lines. By law, the Shia nominate the Speaker of the Parliament, the Sunni get the Prime Minister’s Office, and the Christians select the Lebanese President. The sectarian structure of the government mandated by the peace deal effectively embedded political corruption into law. Each sect controls a piece of the Lebanese government and economy, and each has installed a patronage system dispensing favors and money to their upper echelons, with little of the wealth trickling down to the sects’ underclasses.
Enlightening, and depressing. Read the whole thing.
“Iowa Judge Voids 50,000 Absentee Ballot Requests.” “The Trump campaign argued the forms should have been blank except for the election date and type, per the Iowa secretary of state’s directions. Local officials in Linn County, which is home to Cedar Rapids, ignored those directions and sent out the applications with more information anyway.”
MILWAUKEE JOURNAL SENTINEL: Wisconsin woman launches effort to recall Gov. Tony Evers (D) over unrest in Kenosha, says "We're not willing to stand by and watch our cities burn."
Job numbers boom! Ghislaine Maxwell captured! CHOP chopped! It’s your Friday before Independence Day LinkSwarm!
4.8 million jobs added in June, blowing away all estimates. This is what keeps Democratic strategists up at night: Between lockdowns and riots, they’ve done everything they can to kill the Trump economy, and the Trump economy refuses to die.
Hillary Clinton today after hearing of the news that Ghislaine Maxwell was arrested, there is a reason Epsteined is trending right now. pic.twitter.com/SrGorHPigu
Speaking of the intelligence community, here’s why that Russian bounty story was crap. And all your liberal Facebook friends shared it because they don’t care whether a story is true or not, as long as it hurts Trump. (Hat tip: Stephen Green at Instapundit.)
It is not transcendentally stupid for the alleged anti-racism rioters to destroy a Lincoln statue, though, to normal people, it looks like the act of drooling morons. Now, a good number of these cesspeople are drooling morons, but that does not change the fact that trashing POTUS #16’s statuary is brilliant.
They have confused their targets – us – by casting off the constraints of coherence.
Oh wait, you thought that these folks were trying to make a point about racism being bad. And you thought, because that’s how those of us who weren’t raised on Instatwitbook, soy, and critical race theory, that if you point out that something is unreasonable then that will cause the person you were instructing to rethink it. After all, trashing some Honest Abe totem in order to illustrate how racism is double-plus-ungood is about a “12” on the 1-10 scale of unreasonability. And yet, you can point that out all day and they don’t care.
In fact, they laugh at you for doing so.
It’s not about making sense. It never was. It’s about making you kneel.
If you look at everything that is going on, the one common denominator is that every action the woke insurgents take is designed to strip you of your ability to defend your interests, or property, or rights, or life. The idea is to leave you utterly vulnerable, totally exposed, at which point they can do with you as they see fit. The nicer ones will merely reeducate you then demand humiliating submission and tribute. History (and their social media feed) teach that others will happily murder you. Doubt me? Just ask your local kulak.
Stripping you of defenses takes many forms. One form is defunding and abolishing the police. Oh, someone will be wielding force in society. It just won’t be people accountable to or inclined to protect you. Another form is literally stripping you of your defenses. Why is gun control such a fetish for these creeps? Because you with a gun have the ability to not just say “no” but to exact a price from those who wish to compel a “yes.” So, of course, they want to eliminate your ability to have weapons, but they also want to eliminate, as a practical matter, your ability to use them to protect yourself.
Look at what happened when the pink polo shirt gun guy quite reasonably grabbed his AR-15 as the savages descended on his property and the cops were AWOL. St. Louis’s Soros-bought DA – who last month released all the arrested rioters – threatened to prosecute him. The media is slandering him too. A pack of jackals threatened his property, his family, and even his dog, and he’s the bad guy for not showing his belly? You see the same fake furor every time some citizen has his car surrounded by a feeding frenzy of scumbags and plows through them to escape. Ignore that the slime are now shooting people they try to trap. The idea is to make you give up instead of fight back because if you fight back, the law comes down on you instead of the criminals.
Soros really is a shrewd investor.
The law – and the law generally says you can reasonably defend your life and property (please consult your local laws for specifics and get proper training) – means nothing if corrupt Democrats ignore the crimes of leftists and prosecute normals who dare resist the Blue Terror, which is kind of the point. You thought you could rely on the law and on the government to protect you. Nope. And now you can’t protect yourself either.
And then there’s reason. That’s a defense too. You can use reason, make arguments, present evidence, and convince people. Not if making sense is beside the point.
You cannot reason with these people. Forget trying to convince them. You are not going to talk them out of their quest for power over you by deploying bourgeois conceits like “facts” and “evidence.” Yet so many of us see what’s happening and still take to Twitter or (increasingly) Parler to point out the sheer ridiculousness of the enemy’s latest antics. But these actions are not ridiculous. They are tactically genius. Instead of confronting an impenetrable defense, they just scuttle around it and attack into our rear.
Forget the bizarre and evil concept of national original sin that is the malignant idea that America is built upon “systemic racism.” America’s true systemic flaw, arising at the time of those miserable progressives of yesteryear and continuing up through the miserable progressives of this rotten year, is what we now call “liberalism.”
Oh, it’s not classical liberalism, with its concern for expanding economic and personal rights – you know, individual liberty. The current inverted mutation of liberalism is all about constricting economic and personal rights and forcing individuals into collective boxes where their individuality is subsumed into an easily exploited and manipulated conformist whole. Want to test out this hypothesis? Look through the endless woke tweets of your favorite hack journalist, pinko pol, or Hollywood half-wit, or even go up to some self-described liberal in your own life, and see if you can find one iota of deviation from any of the approved liberal dogma. Good luck. You won’t find a smidgeon of nonconformity. You won’t detect a molecule of dissent. These people are the Borg, if the Borg worked in a giant space coffee house, had Bernie stickers on their spaceships, and could not do a push-up. You can’t reason with them – appealing to reason is futile.
Systemic liberalism is the real poison in America’s veins, not the fanciful notion pushed by bigots, charlatans, and demagogues, that the American enterprise is dedicated to invidious discrimination on the basis of race.
Left-wing activist and former Bernie Sanders surrogate Shaun King is among the most visible faces of the Black Lives Matter movement. The former Daily Kos blogger is also one of its prominent fundraisers: In 2017, King founded a political action committee—the Real Justice PAC—with an eye toward driving criminal-justice reform across the country using the same mass mobilization techniques employed by the Sanders campaign.
But over the past 15 months, the Real Justice PAC, staffed by a number of left-wing activists, has funneled a quarter of the money it has brought in back to companies linked to PAC leaders.
Since January of 2019, the PAC has cut dozens of checks totaling more than $460,000 to three political consultancy firms linked to PAC employees. The PAC’s data strategist, Jin Ding, and its treasurer, Becky Bond, manage two of them: Social Practice LLC and Bernal Alto LLC. The third—Middle Seat Consulting—was cofounded by one of the PAC’s original leaders, Hector Sigala.
“There are legal and ethical ways to have people in leadership positions at an organization also serve as vendors to the same organization,” Scott Walter, president of the Capital Research Center, a money-in-politics watchdog, told the Washington Free Beacon. “But these relationships properly raise questions, especially for a group whose leaders include someone like Shaun King, who has repeatedly been accused of enriching himself improperly.”
“For 501(c)(3) charities, the IRS actually prohibits what’s called ‘private inurement’ or excessive benefit to an individual from the organization’s coffers,” Walter said. “Real Justice PAC isn’t a nonprofit overseen by the IRS but a PAC overseen by the Federal Election Commission, which so far as I know doesn’t have such a strict regulation. Still, groups like Real Justice that routinely criticize their opponents for things like ‘dark money’ influence—should be prepared to defend practices that let leaders write checks to their own for-profit consultancies.”
Ding, the PAC’s technology strategist, is registered as the manager for the California-based Social Practice LLC and Bernal Alto LLC in the firms’ state filings. Social Practice received nearly $250,000 from Real Justice PAC this cycle for campaign consulting and digital services. Bernal Alto, which dissolved earlier this year, was paid $20,000 for consulting and organizing services. Bond, a cofounder of the PAC and former senior adviser to Bernie Sanders’s 2016 presidential campaign, is also listed as a manager for both companies. Progressive digital firm Middle Seat Consulting, which was cofounded by Sigala, received $193,000 from the PAC for advertising services.
Seattle’s lawless CHAZ/CHOP zone finally demolished not due to all the murders, but because the scumbag protestors approached the mayor’s house. We can’t have the rabble bothering the more equal pigs!
Slowly but surely, all the Social Justice rioters are being brought to actual justice: 44 scumbags arrested in Scottsdale.
The antifa ringleader of the attempt to pull over the Andrew jackson statue was also arrested. “Jason Charter was arrested at his home by the FBI and U.S. Park Police on Thursday morning and charged with destruction of federal property.”
Our ruling class: “Peter Newell was the former co-ordinator of the Association for the Protection of All Children charity. The 77-year-old from Wood Green, north London, was sentenced last month at Blackfriars Crown Court. He admitted five indecent and serious sexual assaults on a child under 16.”
Wary of closer Indo-American ties, the Chinese Communist Party’s mouthpiece Global Times news outlet published editorials cautioning India from involving itself in U.S.-China tensions and serving as an American pawn against China. Picking up on this notion, Brookings scholar Tanvi Madan believes closer India-U.S. ties triggered the border standoff, with Beijing intending to show India its rightful place.
Instead, China’s deadly actions might have achieved exactly the opposite—cementing New Delhi’s strategic tilt towards Washington.
Hey @tiktok_us, why do you paste from my clipboard every time I type a LETTER in your comment box? Shout out to iOS 14 for shining a light on this HUGE invasion of privacy. inb4 they say it was a "bug" pic.twitter.com/MHv10PmzZS
And it’s not just Tik-Tok! “Other news apps caught red-handed: ABC News, Al Jazeera English, CBC News, CBS News, CNBC, Fox News, News Break, NPR, ntv Nachrichten, Reuters, Russia Today, Stern Nachrichten, The Economist, and Vice News.”
“Coronavirus traces found in March 2019 sewage sample, Spanish study shows.” Absent other corroborative samples from that timeframe, I would guess it’s a case of sample contamination or a false positive. Still: a data point.
