Bank Runs Start in Greece

June 20th, 2015

The bank runs have started in Greece. Why the Greek peeople would even keep their money in banks, having the example of Cyprus’s bank “bail-ins” before them, would keep any but the most minimal amout of cash in a Greek bank is a mystery.

Given that Greek banks are insolvent without the European Central Bank’s backstop, one wonders why Greek PM Alexis Tsipras thinks he can continue to bluff the EU caving on reform demands. It’s tough to bluff when you have no hole cards…

There’s talk of a “new” Greek proposal, which could mean Tsipras and Syriza are finally coming to their senses and giving in to EU demands, or it could be just another smokescreen. I mean, we’ve only seen about a dozen “new” Greek proposals this year that didn’t offer meaningful reform. What’s one more?

Stay tuned…

Sad Puppies Redux (Or Why That Tor Boycott Won’t Work)

June 19th, 2015

There’s enough news on the Sad Puppies front that a lengthy follow-up post is called for.

First, on May 11, Tor Books art director Irene Gallo stepped in it:

There are two extreme right-wing to neo-nazi groups, called the Sad Puppies and Rabid Puppies respectively, that are calling for the end of social justice in science fiction and fantasy. They are unrepentantly racist, misogynist, and homophobic. A noisy few but they’ve been able to gather some Gamergate folks around them and elect a slate of bad-to-reprehensible works on this year’s Hugo ballot.

This post was so false, ill-tempered and venomous that Tor head Tom Doherty had to issue an apology.

Eric Flint, a respectable far-lefty (and a guy who bought a story from me for Jim Baen’s Universe), had this to say:

And applying the term [neo-nazi] to the Sad Puppies is simply slander, pure and simple. I have no objection to calling either Brad Torgersen or Larry Correia “right wing,” because they are—and say as much themselves. If you want to add the term “extreme” because it makes you feel better, so be it. For whatever it’s worth, coming from someone who has seen extreme right-wingers a lot more up-close and personally than I suspect Irene Gallo ever has, I think applying the adjective to either Brad Torgersen or Larry Correia is not accurate. If we can descend into the real world, for a moment, what both men are is political conservatives with a libertarian slant who are also devout Mormons. (I mention their religion simply because, as with most religious people, it does influence their political views at least to some degree.)

But leaving aside the issue of “extreme,” suggesting that either of them is a “neo-nazi” or anything remotely close is just disgusting. And don’t anyone bother protesting that Gallo didn’t actually make that charge directly since she did, after all, distinguish between “extreme right wing” and “neo-nazi.”

Yes, I know she did—with the clear intent of smearing the two together. This is the sort of rhetorical device that Theodore Beale loves to use also, when he insists he doesn’t “advocate” shooting girls in the head for wanting to get an education, he just points out that, empirically and scientifically speaking, it’s “rational” for the Taliban to do so.

I’m not guessing at Gallo’s intent, either, as will become blindingly obvious when we move on to her second sentence. But before I do so it’s necessary to address the last part of her first sentence, which is either as dishonest as the first part or is just silly, I’m not sure which:

“…that are calling for the end of social justice in science fiction and fantasy.”

Huh? The last time I looked, nobody except possibly Theodore Beale (and even with him you’d really have to squint) is calling for the end of social justice in F&SF. In one way or another, at least half of the stories written in our field—including ones by Brad Torgersen and Larry Correia—are stories in which the fight for social justice figures prominently. To be sure, people can disagree over what social justice really is and isn’t and the best way to achieve it. But who in hell is actually calling for social justice to end?

Once again, Gallo is employing sleazy rhetoric. The charge which can accurately be laid at the feet of the Sad Puppies is that they are calling for an end (or at least amelioration) of what they believe to be the dominating influence of what they call “social justice warriors” over who gets nominated for and wins the Hugo Award. But translating that into the statement that they are “calling for the end of social justice in science fiction and fantasy” is ridiculous. You could just as easily charge me with “calling for the end of straight white males” because I do in fact believe that straight white males have an undue amount of power and influence in our society.

Snip.

In what sense can Brad Torgersen or Larry Correia or any person identified with the Sad Puppies be called racist, sexist and homophobic, much less “unrepentantly” so?

Words matter, damn it. If Irene Gallo has any citations that would substantiate her charges, let her make them public. And if she can’t—and I’ll make a prediction here: she can’t—then she needs to publicly retract the accusation and apologize to the people against whom she made it.

Period. There is nothing to discuss here. Put up or shut up.

Gallo did indeed eventually offer an apology on her Facebook page, but it seems to me that saying you “painted with too broad a brush” when calling a wide range of writers and science fiction fans “neo-Nazis” is far too weak contrition indeed.

On the other hand, Sad Puppy and Tor author John C. Wright has accepted her apology, stating “The insult was pro forma, ergo a pro forma apology is sufficient.”

Since then, a few people on Twitter have been calling for a boycott of Tor Books over the incident. About this I would just like to make a few points:

  • Though the editorial stuff does lean toward the SJW side, plenty of conservative authors are published by Tor.
  • An ad hoc, Twitter-organized boycott is deeply unlikely to work. Given the way book sales are tracked, it’s unlikely the financial effects of any boycott would stand out from sales figures more than background noise. Most SF readers probably aren’t even active on Twitter, and even fewer have been following every twist and turn of the Sad Puppy Saga.
  • Given that Tor is a very small part of the Bertelsmann Holtzbrinck [see below — LP] international conglomerate, chances are even less likely that that any boycott would be effective or even noticed.
  • Larry Correia has categorically stated that the Sad Puppies are not calling for any boycotts. He also notes, as he invariably does, “All I’m asking is that whatever you do, try to be as civil as possible in your disagreements.”
  • So put me down in the category of thinking a boycott is foolish, pointless and counterproductive.

    One big point on the Sad Puppies campaign: Most recent domestic Worldcons have topped out in the 4,000-6,000 members range. I recently bought a Supporting Membership in Sasquan, and my membership number was in the 9,000s. This tends to indicate that the Hugos have indeed become a test of strength in the culture wars. Science fiction fans who want to make a point would probably find it far more productive to pony up their $40 for a Supporting Membership and vote for the works they like than threatening boycotts.

    Greece’s Final, Final, Final Deadline…Finally?

    June 18th, 2015

    Stop me if you’ve heard this before, but Google News is once again filled with Greece on the Brink headlines and the Telegraph has started a live update page for the Greek debt crisis. Today’s Eurogroup meeting ended without any deal, Merkel says she won’t budge, and Greece admits they have no money to make their bundled payment to the IMF at the end of the month.

    And the IMF has said there will be no grace period if Greece misses their June 30 deadline.

    Also, tomorrow Greece owes €85 million to the European Central Bank. Since the ECB backstop is the only reason Greek banks aren’t already insolvent, I suspect Greece will find some way to make that payment, even if it means raiding the Emergency Transplants for Crippled Orphans fund.

    Other than that, things are going swimmingly.

    The sticking point, as always, is Greece’s insistence that the rest of Europe lend it more so as to allow Greece to continue spending insanely more money than it actually has on its bloated welfare state, and that it absolutely will not cut government pensions (the pensions it will be unable to pay without a loan anyway) at all. But “Greece still spends more than any other country in the European Union on pensions as a proportion to GDP – with the country shelling out a whopping 17.5 percent.”

    British tourists are warned to take cash if they’re vacationing in Greece, since cash machines and credit cards may not work due to capital controls.

    How much is Greece uncertainty weighing down stocks?

    Eh, not so much…

    Jihadsville, West Yorkshire

    June 17th, 2015

    The town of Dewsbury in West Yorkshire is punching above its weight when it comes to producing Jihadists:

    Set in a quiet corner of West Yorkshire, on first glance the former mill town of Dewsbury looks perfectly innocent.

    But bubbling away under the surface of the thriving community is a deep-rooted problem with hardline Islamic extremism.

    Home to Talha Asmal – the 17-year-old boy believed to be Britain’s youngest suicide bomber – Dewsbury is also where two of Britain’s 7/7 bombers lived, including the man who masterminded the attack, Mohammad Sidique Khan.

    7/7 refers to the July 7, 2005 subway bombings in London that killed 52 civilians.

    Of course, the shocking thing about this story is just how unshocking it’s become. Is anyone surprised anymore when some small UK village hosts its own hardened jihad cell? It’s simply the reality of modern Britain.

    (Hat tip: Jihad Watch.)

    Lazy Rachel Dolezal Post

    June 16th, 2015

    By now you’ve probably read all about Rachel Dolezal, the the black woman who’s actually a white girl, and who just resigned her position as Presidnet of the Spokane NAACP.

    Back when she was white, she sued predominately black Howard University, which she was attending on a scholarship for her art “which specialized in portraits of African-Americans,” for discriminating her because she was white.

    So what do I have to add, coming as late as I do to the equine flogging queue? How about some snarky tweets?

    Colt Files for Bankruptcy

    June 16th, 2015

    In a move that had been a long time coming, Colt Defense LLC filed for bankruptcy on Monday.

    It takes an epic level of incompetence for a gun company to lose money in the era of Obama, but Colt was obviously up to the challenge.

    Colt has struggled in recent years with supply-chain and working capital issues, a slowdown in rifle sales and its 2013 loss of a key contract to supply the U.S. Army with the M4. As a result of some of its operational issues, the company has had accounting problems that caused it to revise prior years’ reported financial results and miss a creditor’s initial filing deadline for an annual report, according to regulatory filings.

    Ask gunnies what the problem with Colt is, and they’ll tell you a disinterest in the civilian market compared to pursuing government contracts, as well as a desire to charge premium prices for ordinary guns. That, plus the “felonious mismanagement” is what did them in.

    A shame. With competent management, the makers of the AR-15 should have been making money hand over fist the last six years…

    Quick Pre-Default Greece Update

    June 15th, 2015

    It looks like the rest of Europe has finally wised up to the fact that Alexis Tsipras has been playing them for chumps. It should be obvious to everyone now that Tsipras and his far-left Syriza party have no intention of reforming Greece’s bloated welfare state, they just wanted to pretend to as long as the rest of Europe was willing to underwrite it in exchange for pretending to reform. But lately even the pretense of reform has become intolerable. They want debt forgiveness and Europe to continue paying their bills, and they’re not going to budge until they get it, or until they totally destroy the Greek economy. You know, whichever.

    Europe seems to finally have said “Enough!”

    Other Greek links:

  • Might the European Central Bank impose capital controls on Greece (ala Cyprus) to force a change in the Greek government? Since the Greek banking system only exists at the mercy of ECB-backstopping, this could very well be the easiest way out of the crisis for everyone (even, weirdly, Tsipras and Syriza, who will still be able to claim they never gave in to Troika demands…)
  • “The latest Greek negotiating strategy is to demand a ransom to desist threatening suicide. Such blackmail might work for a suicide bomber. But Greece is just holding a gun to its own head — and Europe does not need to care very much if it pulls the trigger.”
  • “For the creditors, the test of whether Mr. Tsipras really wants Greece to remain in the eurozone comes down to a simple question: Is Syriza willing or able to reform Greece’s public sector?” Syriza wants to reform Greece’s public sector the way O. J. Simpson wants to find the real killers.
  • Gameplanning Greek outcomes. (Warning: Autoplaying video. Up yours, Bloomberg.)
  • Gov. Abbott Signs Open and Campus Carry Bills

    June 13th, 2015

    This afternoon, Texas Governor Greg Abbott signed the Open Carry and Campus Carry bills into law at Red’s Indoor Range in Pflugerville. (I can tell you from experience that it’s hard enough to get a shooting lane at Red’s even when the governor isn’t there.)

    Note that as per the actual text of the open carry bill, open carry for CHL holders goes into effect January 1, 2016. I’ve seen various commentators cite a date of September 1st, but that’s just the date for various Texas agencies to have administrative plans in place for complying with the new regulations. So don’t go wearing your holsters in public on September 1st, or you’re likely to receive a very rude awakening…

    Kroll Report Whitewashed Low LSAT Scores at UT Law

    June 12th, 2015

    Remember the Kroll Report, the look into the University of Texas’ system of preferential admissions for unqualified friends and relatives of the well-connected? The one that showed UT Regent Wallace Hall was right and his critics were wrong?

    Now it turns out that the Kroll report whitewashed some aspects of the UT scandal, namely how low the LSAT scores were for some of those well-connected applicants:

    “Of 6,155 admitted applicants from 2010 to 2014, only four were admitted with an LSAT score below 150,” Kroll reported. Also, “During the time period reviewed, we found only two applicants who were admitted with both an undergraduate GPA below 3.0 and LSAT score below 155; however, both applicants belonged to an under-represented minority group and had valuable public sector experience before applying to law school.”

    Actually, Kroll found dozens of students with LSAT scores below 150, and even found three students admitted during the Powers years with scores in the 130s.

    Snip.

    It’s impossible to say now exactly how many underqualified students were admitted, as UT redacted the tallies. We can say that in 2004, UT Law admitted at least one person with each of the following scores: 137, 140, 141, 144, 147, 148 and 149.

    In 2005, UT Law admitted at least one person with each of the following scores: 137, 140, 141, 143, 144, 147, 148 and 149.

    In 2006, the low scores recorded were 137, 141, 143, 146, 147, 148 and 149.

    So who ordered the Kroll to spike its findings?

    “Vice Chancellor Dan Sharphorn oversaw the report. He reports directly to Chancellor Bill McRaven.”

    Ongoing lawsuits by Watchdog.org and a Dallas Morning News columnist may succeed in getting past UT’s stonewalling (“In response to a public records request, UT last week produced a key 24,536-page document from the Kroll files, with every last page redacted.”) to cast some light on the subject.

    (Hat tip: Instapundit.)

    IMF Gives Up on Greece

    June 11th, 2015

    The IMF just said to Greece “Screw you guys, I’m going home.” (Note: For the full effect, you have to say the preceding in the voice of Eric Cartman.)

    The International Monetary Fund said it was halting bailout talks with Greece in a stark signal of its exasperation about a lack of progress toward a deal needed to avert a Greek default, as European leaders suggested the negotiations were nearing their endgame without an agreement in sight.

    And keep in mind that these are transnational bureaucrats whose entire job description is long, drawn-out economic negotiations. And they’ve finally had enough of talking to Greece.

    That’s not the fat lady warming up, that’s the fat lady striding boldly on stage and waiting for the cue to open her mouth.

    The Greek debt crisis was always going to come to a bad end. The least bad alternative was introducing real austerity when the crisis hit, paring back their welfare state, reforming their economy, and living within their means for several years until their economy started growing again.

    But by electing the far-left Syriza party, Greece has ended up opting for a far worse fate: They’re going to end up absolutely broke, absolutely in debt, and they won’t even be able to fund the day-to-day operations of their bloated welfare state. Unless the Greek parliament can somehow force a snap election and replace Alexis Tsipras’s lying, farcical government with one actually capable of recognizing reality, Greece is in for a level of economic pain that’s going to make the Great Depression look like a picnic…

    (Hat tip: Zero Hedge.)