Just How Does An IRS Agent Get Killed At A Federal Shooting Range?

August 19th, 2023

The dumbeth here must be off the charts:

The FBI is investigating after a special agent with the Internal Revenue Service was killed at a gun range at a correctional facility in Phoenix on Thursday afternoon.

According to the Federal Bureau of Prisons, the shooting happened at the firing range at the Federal Correctional Institutional in Phoenix, located near Pioneer Road and Interstate 17 in north Phoenix. Aimee Arthur-Wastell, spokesperson with the FBOP, said the range was being used by multiple federal agencies at the time.

The FBI specified that the agent was there for “routine” training when they were killed, but didn’t offer specifics as to how the agent was killed or if anyone was in custody.

According to Phoenix police, officers who responded to the area found a person shot, later determined to be the IRS agent. The agent was taken to a hospital with serious injuries. It wasn’t immediately clear if the agent died en route or at the hospital.

According to Arthur-Wastell, no FBOP or firing range employees were injured.

“To preserve the integrity and capabilities of the investigation, details of the ongoing process will not be released,” the FBI said in a statement.

Yeah, I bet.

You wonder just how many of Jeff Cooper’s rules were ignored here. Then again, it only takes one.

You’d like to think that federal firearms facilities take at least as much care on observing range safety procedures as the average mom-and-pop shooting range in Texas does, but given how the rest of the federal government is run these days, that’s no sure thing.

It also brings up the question of just why the IRS needs its own armed agents in the first place. Are there not enough armed agents in other branches of the federal government to provide muscle for the IRS on the (theoretically rare) occasions it’s required?

Feel free to share your own “the agent was investigating Hunter Biden and/or Hillary Clinton” jokes in the comments below.

(Hat tip: Instapundit.)

LinkSwarm For August 18, 2023

August 18th, 2023

San Diego tries enforcing the law, a sampler of the lies Obama told about his life, Blade-Runners take on Big Brother’s cameras, a nuke rises in Texas, and a Cthuloid horror swims the chilly waters of Antarctica. It’s the Friday LinkSwarm!

  • San Diego tries “this one weird trick” to deal with homeless problem: Enforcing the law.

    Police began enforcing San Diego’s controversial new camping ban Monday, and although officials said they’ve so far focused only on Balboa Park, the new ordinance combined with other enforcement of laws long on the books has already made notable changes in the encampment landscape.

    The “Unsafe Camping Ordinance” allows officers to force people off public land if they’re sleeping within two blocks of a school, shelter, trolley station, waterway or park “where a substantial public health and safety risk is determined.”

    Capt. Shawn Takeuchi, head of the city’s neighborhood policing division, said his five-member team did arrest several homeless people Monday by Balboa Park, but only for existing warrants.

    Others were given a warning, he said. If any of the same people are found illegally camping a day later, they’ll get a ticket even if they’ve moved locations.

    Nobody in Balboa Park accepted offers for shelter Monday, the captain added. Enforcement will continue to focus on schools and parks in the near future, and officials declined to say where the team might move next.

    Do you think Austin’s government might start enforcing the city’s camping ban? Of course not. Then how are they supposed to rake off the graft? (Hat tip: Instapundit, who offers some takeaways worth highlighting:

    1. The homeless respond to policy and incentives like anyone else. The mere announcement of a future camping ban (plus some enforcement of other existing rules) rapidly cleared out major problem areas.
    2. The provision of shelter or housing is neither necessary nor sufficient to accomplish these clear-outs. Of the people asked to leave Balboa Park on the first day of enforcement (issuance of warnings), none accepted offers of shelter.
    3. The NGOs that have colonized the homeless problem have neither the incentive nor the knowledge to solve it. The head of one shelter was confused by the magical disappearance of his potential clients. “Where did they go?”

  • Harvard law professor Alan Dershowitz explains why the latest Trump indictment is a joke.
  • Charles F. McGonigal, a former FBI agent pushing the Russian collusion fantasy pleads guilty to Russian collusion. (Hat tip: Instapundit.)
  • Hunter Biden’s tax charges dismissed, but only as a prelude to filing more serious charges against him.
  • Biographer David Garrow reveals some of the many things Obama lied about.

    There is a fascinating passage in Rising Star, David Garrow’s comprehensive biography of Barack Obama’s early years, in which the historian examines Obama’s account in Dreams from My Father of his breakup with his longtime Chicago girlfriend, Sheila Miyoshi Jager. In Dreams, Obama describes a passionate disagreement following a play by African American playwright August Wilson, in which the young protagonist defends his incipient embrace of Black racial consciousness against his girlfriend’s white-identified liberal universalism. As readers, we know that the stakes of this decision would become more than simply personal: The Black American man that Obama wills into being in this scene would go on to marry a Black woman from the South Side of Chicago named Michelle Robinson and, after a meteoric rise, win election as the first Black president of the United States.

    Yet what Garrow documented, after tracking down and interviewing Sheila Miyoshi Jager, was an explosive fight over a very different subject. In Jager’s telling, the quarrel that ended the couple’s relationship was not about Obama’s self-identification as a Black man. And the impetus was not a play about the American Black experience, but an exhibit at Chicago’s Spertus Institute about the 1961 trial of Adolf Eichmann.

    At the time that Obama and Sheila visited the Spertus Institute, Chicago politics was being roiled by a Black mayoral aide named Steve Cokely who, in a series of lectures organized by Louis Farrakhan’s Nation of Islam, accused Jewish doctors in Chicago of infecting Black babies with AIDS as part of a genocidal plot against African Americans. The episode highlighted a deep rift within the city’s power echelons, with some prominent Black officials supporting Cokely and others calling for his firing.

    In Jager’s recollection, what set off the quarrel that precipitated the end of the couple’s relationship was Obama’s stubborn refusal, after seeing the exhibit, and in the swirl of this Cokely affair, to condemn Black racism. While acknowledging that Obama’s embrace of a Black identity had created some degree of distance between the couple, she insisted that what upset her that day was Obama’s inability to condemn Cokely’s comments. It was not Obama’s Blackness that bothered her, but that he would not condemn antisemitism.

    Snip.

    Perhaps the most revealing thing about Jager’s account of her fight with Obama, though, is that not one reporter in America bothered to interview her before David Garrow found her, near the end of Obama’s presidency. As Obama’s live-in girlfriend and closest friend during the 1980s, Jager is probably the single most informed and credible source about the inner life of a young man whose election was accompanied by hopes of sweeping, peaceful social change in America—a hope that ended with the election of Donald Trump, or perhaps midway through Obama’s second term, as the president focused on the Iran deal while failing to address the concerns about rampant income inequality, racial inequality, and the growth of a monopoly tech complex that happened on his watch.

    The idea that the celebrated journalists who wrote popular biographies of Obama and became enthusiastic members of his personal claque couldn’t locate Jager—or never knew who she was—defies belief. It seems more likely that the character Obama fashioned in Dreams had been defined—by Obama—as being beyond the reach of normal reportorial scrutiny. Indeed, Garrow’s biography of Obama’s early years is filled with such corrections of a historical record that Obama more or less invented himself. Based on years of careful record-searching and patient interviewing, Rising Star highlights a remarkable lack of curiosity on the part of mainstream reporters and institutions about a man who almost instantaneously was treated less like a politician and more like the idol of an inter-elite cult.

    Snip.

    Progressive theology is built on a mythic hierarchy of group victimhood which has endured throughout time, up until the present day; the injuries that the victims have suffered are so massive, so shocking, and so manifestly unjust that they dwarf the present. Such injuries must be remedied immediately, at nearly any cost. The people who do the work of remedying these injustices, by whatever means, are the heroes of history. Conversely, the sins of the chief oppressors of history, white men, are so dark that nothing short of abject humiliation and capitulation can begin to approach justice.

    It goes to say that nothing about the terms of progressive theology is original. It is the theology of Soviet communism, with class struggle replaced by identity politics. In this system, Jews play a unique, double-edged role: They are both an identity group and a Trojan horse through which history can reenter the gates of utopia.

    Read the whole thing to see all those facts about Obama that the media ignored…including his fantasies about having sex with men.

  • Yuan hits 16 year low against the dollar.
    

  • The origins of the global warming scam.

    Members of the IPCC, such as Pedro Moura-Costa (above) and Gareth Philips, had major conflicts-of-interest. They owned, created and/or worked for businesses — such as Ecosecurities and SGS Forestry — that would directly profit from the report’s conclusions.

    In fact, the IPCC panel members’ companies were positioned to earn millions of dollars from the report. But the mainstream media did not report these conflicts and instead piled on the “global warming” and “carbon offset” bandwagons.

    Solar energy portal Ecotopia reported that members of the IPCC “…had vested interests in reaching unrealistically and unjustifiably optimistic conclusions about the possibility of compensating for emissions with trees… [and] should have been automatically disqualified from serving on an intergovernmental panel charged with investigating impartially the feasibility and benefits of such ‘offset’ projects.”

  • Social Justice strikes again: Woke Hawaiian Official Stalled Release Of ‘Revered Water’ Until It Was Too Late To Save Maui.”

    According to accounts of four people with knowledge of the situation, M. Kaleo Manuel, a Native Hawaiian cultural practitioner and DLNR’s deputy director for water resource management, initially refused West Maui Land Co.’s requests for additional water to help prevent fires from spreading to properties managed by the company. Manuel eventually released water but not until after the fire had run its course.

    His office has not yet commented on the delay of water resources.

    How much damage could have been prevented with the extra water is not yet known. However, the question of “Why?” needs to be addressed in the wake of one of the worst natural disasters in Hawaii’s history. Though bureaucratic red tape might be the most obvious suggestion, a recent interview with M. Kaleo Manual offers some interesting and disturbing insight. Manuel waxes philosophical on “water equity” (“equity” being a pervasive woke buzzword) and an ancient “reverence” of water as god-like. He uses these beliefs to support his rationale for keeping tight controls over Hawaiian water supplies; not as a resource to be used, but as a holistic privilege offered by the government.

  • Economist who named BRICS says the idea of a common BRICS currency is “embarrassing.”

    “It’s just ridiculous,” [Lord Jim O’Neill] told the Financial Times in an interview on Monday. “They’re going to create a BRICS central bank? How would you do that? It’s embarrassing almost.”

    The economist spoke ahead of the 15th BRICS summit next week, where the nations will meet to decide whether to expand membership to other countries and may also float the idea of the common currency.

    (Hat tip: Stephen Green at Instapundit.)

  • “Blade Runners” take out new London monitoring cameras. (Hat tip: Instapundit.)
  • What’s the matter with Sweden?

    The following story was related to me by a former Governor of Minnesota, who was of Norwegian descent. A number of years ago, a Norwegian dignitary (the Prime Minister, I think) visited Minnesota. Talking to our governor, the Prime Minister tut-tutted about Minnesota’s crime rate, saying that there was much less crime in Norway. Minnesota’s governor replied, “We don’t have a crime problem with our Norwegians, either.”

    That anecdote came to mind when I read, in the London Times, “Sweden’s slide from peaceful welfare state to Europe’s gun-killings capital.”

    Today, Sweden is Europe’s capital of gun homicide. Last year, according to the Swedish national council for crime prevention, 63 people were shot and killed: more than double the European average and, per capita, multitudes higher than London or Paris.

    … The effect on Swedish society has been striking. As well as the lives lost, the violence has brought down a government, changed laws and policies, and become the biggest talking point in a country that once prided itself on its reputation as a peaceful welfare state.

    Violent crime will do that, although, to be fair, Sweden’s homicide rate is considerably lower than ours. But it is now significantly higher than homicide rates in quite a few other European countries, including Norway. Why is that? Have Swedes suddenly started getting violent? No.

    It has also kicked the hornet’s nest of integration. Today, one fifth of all people living in Sweden were born outside the country.

  • Dow Chemical is planning to build a small nuclear reactor to power their plant in Calhoun County. Good for them. The TRISO-X fuel they’re using sounds like it will be a pebble bed reactor design.
  • “Target Sales Dipped in Last Quarter Due to Pride Backlash.”
  • Is Adobe sell AI-generated stock art based on artist’s work?
  • Jihadi dumbass kills himself while cleaning his gun.
  • William Friedkin, RIP.
  • Enjoy contemplating this horrifying Cthuloid abomination swimming in antarctic waters.
  • A guide to the things considered disrespectful when working in a Japanese office. Like “going home on time.”
  • Is there any UK tradition more glorious than tossing hot pennies off a high building for the joy of seeing poor people burn their hands grabbing them?
  • “Country Music Industry Confused By Man Actually From Country Making Actual Music.”
  • “Prince Immediately Regrets Waking Rachel Zegler With A Kiss After She Starts Ranting About The Patriarchy.”
  • Good boy!
  • Another Day, Another Criminal Out On Bond Shooting Cops

    August 17th, 2023

    Actually, that headline is slightly inaccurate: It was two criminals out on bond shooting a cop.

    A massive manhunt is underway for two suspects in relation to a shooting of a Harris County sheriff’s deputy during a traffic stop Wednesday night. Both men were free on bond for other charges and had a history of not complying with the conditions of their release.

    According to Harris County Sheriff Ed Gonzalez, the deputy went on patrol at about 7:40 p.m., but within minutes emergency dispatch received calls about an officer down on Homestead Road just inside Houston’s Beltway 8 and the Eastex Freeway.

    Law enforcement agencies have issued a Blue Alert for Terran Green, 34, and James Green, 37. Although Gonzalez announced the suspects’ vehicle had been found overnight, the two men remain at large.

    Harris County records indicated that Terran’s criminal history dates to at least 2007 and includes five felony convictions and three separate stints in state prison. In May 2022, he was sentenced to two years for Aggravated Assault with a Deadly Weapon.

    Democrats love to talk about “gun crime,” but deep blue Democratic Party prosecutors seem loath to actually prosecute the criminals who commit crimes with guns.

    Terran was charged in March 2023 with Felon in Possession of a Firearm and Aggravated Assault of a Family Member, for which the Harris County District Attorney’s Office requested no bond, but Judge DaSean Jones of the 180th District Criminal Court approved bonds of $55,000. Terran was released on April 1, but after failure to appear in court his bonds were forfeited. He has been a wanted fugitive since May 30.

    James also has a criminal history, dating back to 2011. He was given personal recognizance (PR) bonds requiring no payment for Carrying a Handgun in a Motor Vehicle in 2020 and 2022 and possession of one to four grams of cocaine on June 7, 2022. He was rearrested on August 7 after bond forfeiture but released on a $5,000 surety bond just last Saturday.

    A self-proclaimed socialist, Jones has often drawn media attention for awarding bond release to violent, repeat offenders. In 2021 he reduced bond for a suspect facing felony charges of human trafficking, assault, sexual assault of a child, and compelling prostitution of a child.

    Sexual predators of children seem very near and dear to the hearts of the Democratic Party’s cadres of social justice activists.

    Harris County began shifting release policies in 2019, when local judges adopted new bail guidelines and a federal judge approved a consent decree in the ODonnell v. Harris County lawsuit over misdemeanor bail. The decree has formally governed misdemeanor bail policy and mandated county spending on pretrial services for defendants, but a ruling from the 5th Circuit Court of Appeals in a similar lawsuit against Dallas County earlier this year overturned ODonnell, leaving the future of the consent decree uncertain.

    Crime Stoppers of Houston’s Andy Kahan has tracked the number of persons murdered in Harris County by suspects out on multiple bonds and PR bonds since 2018, noting there have been at least 197 such victims.

    197 people dead thanks to Social Justice.

    Last I checked, the Harris County deputy shot was still alive following surgery and their name hadn’t been released.

    Expect criminals to keep shooting cops and citizens as long as Democrats maintain the social justice revolving door for repeat offenders.

    Update: Deputy’s name is Joseph Anderson and alleged shooter Terran Green is in custody after a police standoff in Humble.

    James Green was questioned and released without being charged.

    Nuclear Weapons Expert Rates Movie Nukes

    August 16th, 2023

    As I did with tanks, here’s another “expert analyses the realism of Hollywood movies,” this time with nuclear weapons physicist Greg Spriggs on the realism of movie nuke scenes.

    And yes, Indiana Jones and the Kingdom of the Crystal Skull is included.

    One thing, though: He dings Oppenheimer for Edward Teller slathering on sunscreen, saying it wouldn’t help. Thing is, that’s straight out of the historical record.

    F16s = Fatigue For Soviet Aircraft?

    August 15th, 2023

    Ukraine is expected to receive some F-16 fighter planes…sometime. Like the M1A1 Abrams tanks we’re sending them, the Biden Administration can be frustratingly vague about when they’ll actually get major weapons systems.

    But Michael Bohnert at Defense News makes an interesting point: There mere presence of F-16s will force Russian planes to fly more missions. And the old Soviet planes that make up the bulk of Russia’s air forces have much shorter operational lifetimes than Western aircraft.

    With F-16 fighter jets expected to be provided to Ukraine over the coming months, opinions of their usefulness spans from a gamechanger in the war with Russia to a total waste of resources. But there is one way that these aircraft will harm Russia even if they never shoot down a missile, fighter jet or helicopter: They will cost the Russian Aerospace Forces precious aircraft life.

    The Russian Aerospace Forces, or VKS, possessed roughly 900 tactical aircraft before the 2022 invasion of Ukraine. These included fighter, attack and fighter-bomber aircraft. Since the invasion, it has lost between 84 and 130 of those to air defenses, fighter aircraft and crashes. That’s only a portion of total losses, however. Overuse of these aircraft is also costing Russia as the war drags on.

    In a conflict’s early stages, what matters is total combat power from all active platforms; that represents the maximum firepower that can be directed at the opposition from the onset. In a protracted war, where one force tries to exhaust the other, it’s the total longevity of the military force that matters. And that’s where the VKS finds itself now.

    By my calculations, the extra hours that it’s pressed its aircraft into service since February 2022 have effectively cost it an additional 27 to 57 aircraft in imputed losses.

    Aircraft have a life span. They are designed with a total number of expected flight hours, which are used roughly evenly over the life of the aircraft and segmented with periodic maintenance and inspection. For example, if an aircraft is designed for 3,000 flight hours with an expected use of 30 years, the aircraft will fly roughly 100 hours per year. If, during an inspection, wear on the plane is found to be more or less than expected, the projected remaining hours are adjusted accordingly. These numbers dictate all sorts of planning, from fuel procurement to ground maintenance to pilot training.

    Imputed losses mean that the Russians have burned through more of the expected life span of their aircraft more quickly than anticipated. To make up for it, they’ll have to procure more aircraft, increase maintenance, reduce operations, or accept a smaller force — or some combination of those.

    The VKS is still in the process of transitioning from Soviet-era aircraft to more modern platforms, and an estimated 18 to 36 of these newer tactical aircraft join the force every year. Almost half of the VKS force is still upgraded Soviet-era airframes.

    While newer Russian aircraft are designed for between 3,500 and 4,500 flight hours, with some as high as 6,000, those Soviet-era aircraft were designed to be in the air only 2,000 to 3,500 hours. Although several platforms, such as the MiG-31, have been upgraded to extend their service life, many of these older planes (Su-24, Su-25, Su-27, MiG-29) are nearing the end of their service lives. These have, at best, 500 to 1,000 hours remaining.

    In the first few months of the war in Ukraine, the VKS was flying as many as 150 to 300 sorties per day — compared with the peacetime rate of roughly 60 per day. Even dropping to 100 sorties a day since, the VKS has basically flown double its normal annual hours since the beginning of the war.

    This extra use is, by commonly used measures, equivalent to losing roughly 34 aircraft since the start of the invasion. However, this only captures the losses relative to the life span of newer airframes. Because the older airframes have so few remaining hours, it’s actually equivalent to losing about 57 VKS airframes.

    Add to that the Russian reputation for corruption and lousy maintenance, and you can see how F-16s (and other western planes) could overstress Russia’s air force even without racking up air-to-air kills.

    Ruble Now A Penny

    August 14th, 2023

    When Russia launched its illegal war of territorial aggression against Ukraine in February of 2022, many observers thought western financial sanctions would quickly crash the Russian economy. When Russia was cut out of SWIFT, the Ruble plunged to below a penny against the dollar, but quickly recovered, at least a bit.

    Due to various reasons (gas and oil sales, gold transfers, and the many loopholes EU countries have made for their sanctions), Russia’s economy hasn’t collapsed as quickly as many expected, or hoped.

    But just today, the ruble finally slipped back below the penny-parity line again.

    Russia’s central bank called an extraordinary meeting Tuesday after the ruble crashed through the level of 100 to the dollar for the first time since March of last year as Russia’s war in Ukraine drags on and international sanctions hit trade.

    Policy makers will publish a statement on the key rate at 10:30 a.m. after the meeting, the Bank of Russia said in a statement, without giving any further details. The central bank hiked its key rate by a percentage point to 8.5% last month, the first increase since emergency measures imposed immediately after the invasion of Ukraine in February 2022.

    The exchange rate has emerged as the barometer of health for an economy battered by shrinking export revenues and its isolation from international financial markets, bringing infighting between the government and central bank into the open.

    The ruble reversed losses after the announcement, traded up 1.8% at 97.6625 at 7 p.m. in Moscow. The currency, which had broken through 101 earlier on Monday, has weakened about 27% this year for the third-worst performance in emerging markets. The central bank had sought to arrest the slump by saying it won’t purchase foreign currency on the domestic market for the rest of 2023.

    Yeah, no one trusts Russia to hold adequate foreign currency reserves a year and a half into sanctions. So that move doesn’t help.

    Lots of meaningless Russian “economy is great” blather snipped.

    Revenues of Russian oil and gas exporters declined to $6.9 billion in July from $16.8 billion in the same period last year, according to the latest central bank data. An easing of restrictions on moving money abroad has also led to accelerated capital flight as Russians race to shift funds into foreign accounts.

    “The weakening of the ruble is the result of the international screws tightening around the Russian economy, but also the cost of keeping the economy going,” said Erik Meyersson, chief emerging-market strategist at SEB AB in Stockholm. “Nobody wants to hold rubles, and the limited supply of foreign exchange from exporters weighs on the currency.”

    Of course, Russia could get out of it’s self-imposed monkey trap by withdrawing its forces from all occupied Ukrainian territory. But I don’t think anyone is hold their breath for that to happen…

    China Is Screwed: Pipe People

    August 13th, 2023

    I didn’t intend to do an all “China is Screwed” video roundup weekend, but the videos keep stacking up and I need to post some rather than producing a giant unwieldy post with hours of footage.

    First up: Young people’s whose job prospects and futures are so dim that they’re actually living in concrete pipes.

    Takeaways:

  • Certainly America has no shortage of transients living rough, but in contrast to ragged drug addicts, alcoholics and dangerous lunatics, the people living in these pipes look to be normal, healthy 20-something Chinese.
  • Just because you’re living in a concrete pipe doesn’t mean you can’t be a live-streamer. Like the under-the-bridge streamers seen in previous videos, you wonder how widespread this behavior is, or whether we’re just seeing the edge of the freak show.
  • “Despite the female hosts not being beautiful and the male hosts not handsome, it doesn’t affect viewership.” I do rather want to check their numbers, here.
  • “This is because it’s happening in the industrial city known as the world’s factory – Dongguan in Guangzhou.” It’s on the Pearl River Delta near Guangzhou and Hong Kong. “After more than thirty years of China’s reform and opening up, Dongguan, which has always been at the forefront of economic development, has recently seen a wave of business closures and foreign capital relocation.” See also: all those previous China is screwed videos.
  • “When foreign capital withdraws, thousands of Chinese workers lose their jobs. Among these people, some have worked in factories for decades and are now middle-aged. It’s overwhelming to be suddenly faced with unemployment and consequential cost-of-living pressures, coupled with labor competition against millions of university graduates.” I’m sure that sucks, just like getting laid off here sucks. But in a capitalist economy, even a flawed one like we have, is always going to be more flexible about creating jobs that one ruled by a communist party’s aristocracy of pull.
  • “Those who are single simply adapt to homelessness, creating their own personal space amongst the concrete pipes.” Or, you could have, you know, lived modestly, saved money, and shared housing with other people. The fact they haven’t gone this route and are instead living in pipes suggests something in the Chinese economy is even more broken than we think.
  • Foreign companies like Microsoft and Nokia are now moving to Vietnam and India. “Japanese companies like Panasonic, Daikin, Sharp, and TDK are planning to move their manufacturing bases back to Japan. Well-known companies like Uniqlo, Nike, Funai Electric, Samsung, and others are also accelerating their withdrawal from China.”
  • Like industry is also fleeing from elsewhere in China.
  • “The once bustling Bund in Shanghai is now overgrown with weeds due to lack of maintenance and tourism, presenting a scene of desolation. Everywhere in Shanghai’s luxury residential communities, there are messages about subleasing and selling at a loss. The elites, celebrities, and tycoons left Shanghai at the first chance they got after the lifting of the lockdown. The political uncertainty in China and the frequent changes in regulatory clauses by the authorities have made entrepreneurs miserable.” Communists making entrepreneurs miserable? This is my shocked face.
  • “Domestic entrepreneurs are reluctant to invest further, and foreign investors are hastening their departure.”
  • Various Chinese company specific layoffs and financial difficulties snipped.
  • “Wall Street leading figures, after enjoying three years of benefits from the broad opening of China’s financial market, are planning large-scale cuts to projects and staff in China…Goldman Sachs has lowered its five-year plan expectations, and Morgan Stanley has decided not to set up a securities dealer in China, reducing its derivative and futures business investment to $150 million. JPMorgan Chase & Co. began cutting its dedicated staff in China earlier this year.” There’s not a violin small enough.
  • In a capitalist economy, there would be some sort of middle ground between the empty ghost cities and people living in pipes near megalopolises. If you don’t regulate the economy so heavily as to make building housing impossible (I’m looking at you, California and NYC), then profit will drive developers to create housing to fill a market need. With China’s crazy misallocation of loans to unprofitable housing to satisfy regional government growth targets, supply has been so severed from demand that such market-making is impossible.

    China is going to come out of it’s decades-long growth spurt with crumbling cities and people that mostly are still poor.

    Great job, Xi!

    China’s New Enemy: Deflation

    August 12th, 2023

    I have a whole host of “China is Screwed” videos I’ve gathered to post, but haven’t had the time to properly queue them up. So here’s a big picture piece from Peter Zeihan on China’s immediate economic foe: deflation.

  • “They never really recovered from Covid.” Aw. My heart bleeds.
  • “Growth is actually lower now than it was over the course of the last two years when they were supposedly under complete lockdown.”
  • “Consumption is down. Imports and exports both dropped in July compared to a year earlier by double digits of percentages. Normally the sort of stuff you only see out of a country like, say, Ukraine or Russia when a war starts.”
  • “We saw a demographic bomb go off in China before Covid. going back to as early as 2017, the demographics really turned negative from 2017 to 2021. The birth rate dropped by about 40%.”
  • “We’ve had all of these trends with four, five, six, years behind them, and as they’re manifesting in a more normal environment, the numbers are really, really, really bad.”
  • A whole lot of that is due to the One Child Policy.
  • Problem two: Deflation. The rest of the world suffered inflation when the lockdowns ended.
  • “The consumption boom never happened, so supply chains never had to adjust. What has happened is people are less confident in their future, so they’re consuming less.”
  • “We’re seeing mounting trade wars out of Europe, Japan, the United States, and increasingly secondary states like the Koreans are joining in. And that means the Chinese have fewer places to send stuff.”
  • “Product that was normally produced for export from China is now being locked up within the Chinese system at the same time that the population is purchasing less. You have an oversupply of goods and an under demand, both at home and abroad. With all those extra goods prices go down, and you get deflation.”
  • “This is what you would expect when you’re at the beginning of a deflationary spiral that’s caused by a fundamental mismatch between supply and demand, which is where we are going with deglobalization and the Chinese demographic. Trends which are now well past the point of no return.”
  • Japan’s deflationary spiral lasted 20-25 years.
  • Deflationary spirals are very hard to pull out of.
  • “The Chinese economic system isn’t really based on exports or consumption, it’s based on investment, the idea that the state fosters mass borrowing in order to build industrial plant infrastructure. Based on whose numbers you’re using, those are somewhere between 40-70% of the entirety of the Chinese economy, and has generated the vast majority of economic growth.”
  • “You can only do that for so long. Eventually you don’t need any more bridges, or any more factories, and I would argue the Chinese reached that point before Covid. Again, there’s been this three, four year lag between reality and the data finally manifesting.”
  • More spending won’t help.
  • “The amount of growth they get for every Yuan spent has been dropping steadily for 40 years, and now it’s in far less than one to one. So it really doesn’t matter how much more fuel and how much cheap capital the Chinese pump into the system, it’s never going to generate more economic activity than what it costs to put it in the first place.”
  • Sucks to be you, China…

    LinkSwarm For August 11, 2023

    August 11th, 2023

    Still more Biden corruption comes to light, Yellow goes belly-up, things get worse in China, and a truly horrifying food discovery. It’s the Friday LinkSwarm!

  • Biden Family Received Millions from Foreign Oligarchs Who Had Dinners with Then-VP Joe Biden.”

    The Biden family and its business associates received millions of dollars from oligarchs in Russia, Kazakhstan, and Ukraine while Joe Biden was vice president, according to bank records obtained by the House Oversight Committee.

    With the new payments included, the committee says it has now identified more than $20 million in payments from foreign sources to the Biden family and their business associates. Those foreign sources include not only the three aforementioned countries, but also China and Romania as well.

    Hunter Biden’s former business associate Devon Archer previously testified that then-Vice President Biden joined roughly 20 phone calls on speakerphone with Hunter Biden’s foreign business associates and attended dinners with foreign oligarchs who paid large sums of money to Hunter Biden.

    The foreign funds were sent to accounts tied to Devon Archer that used the Rosemont Seneca name and were then doled out in incremental payments to Hunter Biden, the records show, in what the committee suggests was an attempt to hide the source and size of the payments.

    Those payments included $3.5 million sent from Russian billionaire Yelena Baturina to the shell company Rosemont Seneca Thornton in February 2014. Roughly $1 million was transferred to Devon Archer, while the rest was used to fund a new account Rosemont Seneca Bohai, which was used by both Archer and Hunter Biden to receive other foreign wires.

    After Baturina sent the massive sum to Rosemont Seneca Thornton, then-Vice President Joe Biden attended dinner with Baturina, Archer, Hunter Biden, and others at Cafe Milano in Washington, D.C.

    Then-Vice President Joe Biden attended dinners with Hunter Biden; Archer; Baturina; Burisma executives; and Kenes Rakishev, a Kazakhstani oligarch, in the spring of 2014 and 2015 at Cafe Milano.

    In February 2014, Hunter Biden met with Rakishev at the Hay Adams Hotel in Washington, D.C. In emails to Archer discussing the D.C. meeting, Rakishev, who was a director at Kazakhstan’s state-owned oil company KazMunayGas, asked that then-Secretary of State John Kerry visit Kazakhstan. Archer said, “if we have some business started as planned I will ensure its planned soonest.”

    So members of the extended Biden business family were asking the Secretary of State of the United States of America to visit a foreign country so the Biden clan could do business. Are all American institutions now corrupted for the sole purpose of enriching Democratic Party insiders?

    In April 2014, Rakishev wired $142,300 to the Rosemont Seneca Bohai account. The figure amounted to the exact price of Hunter Biden’s sports car that the account purchased one day later.

    After receiving the payment, Archer and Biden arranged for executives at Ukrainian natural gas company Burisma to visit Kazakhstan in June 2014 to discuss a deal between Burisma, a Chinese state-owned company, and the government of Kazakhstan. Rakishev had a working relationship with Karim Massimov, who became prime minister in April 2014. Earlier this year, Massimov was sentenced to 18 years in prison for treason, abuse of power, and attempting a coup.

    Also in spring 2014, Archer and Biden joined the Burisma board of directors at a salary of $1 million per year each. President Biden visited Ukraine soon after Archer and the younger Biden received their first payments — payments that were sent to Rosemont Seneca Bohai and later sent in incremental amounts to Hunter Biden’s different bank accounts.

    The committee confirmed IRS whistleblower testimony that Archer and Hunter Biden received $6.5 million in funds from Burisma, which is owned by Mykola Zlochevsky, a Ukrainian oligarch who bribed officials $6 million over the investigation into the natural gas company.

    Archer told the committee last week that Hunter Biden’s value on Burisma’s board was “the brand.” Archer said then-vice president Biden was “the brand.”

    “Burisma would have gone out of business if ‘the brand’ had not been attached to it,” Archer said, according to the committee.

    We can’t let corrupt foreign companies that keep Hunter in cocaine go tits-up, can we?

  • “China Wanted to Use Biden Family to Acquire U.S. Energy Assets.

    Text messages that have recently been given to the FBI show that a Chinese energy company sought to utilize its connections to Hunter Biden in order to purchase domestic energy assets within the United States.

    According to Just The News, the text exchange in question took place between two of Hunter’s business partners, James Gilliar and Tony Bobulinski, on Christmas Eve of 2015. This exchange was shortly after Hunter had first been told about the conglomerate, CFEC China Energy, led by wealthy businessman Ye Jianming.

    “I think this will then be a great addition to their portfolios as it will give them a profile base in NYC, then LA, etc,” said Gilliar in the text message. “For me it’s a no brainer but culturally they are different, but smart so let’s see. … Any entry ticket is small for them. Easier and better demographic than Arabs who are little anti US after trump.”

    This evidence further supports the bombshell claims made by another former business partner of Hunter, Devon Archer, in closed-door testimony before Congress earlier this week. Archer testified that Joe and Hunter Biden both actively sought to promote their “influence” to potential foreign partners, and that the two of them were considered a package deal in efforts to sell the “brand” of their family name and political power while Joe was Vice President.

    According to calendar schedules from his abandoned laptop, Hunter eventually did have a meeting with CEFC Executive Director Jianjun Zang in December of 2015. By March of 2016, two of Hunter’s business partners, Gilliar and Rob Walker, drafted a memo for Hunter to sign and send to CEFC, to which Hunter agreed.

    The text messages, exchanged between 2015 and 2017, eventually reveal that CEFC simply hoped to gain “influence” through its partnership with the Bidens, in order to eventually enter the American energy market with the purchase of energy assets in America and elsewhere in the West.

    “Still closing the perimeters of ops with the Chinese, will know Thursday if we are driving U.S. investments,” Gilliar wrote to Bobulinski in May of 2016, adding that things might be “still a little premature.”

  • Want to know who funded that dirty Chinese bioloab in California? Would you believe Gavin Newsom?
  • Yellow files for bankruptcy, citing union contracts. Look how they shine for you. And all the things that you do…
  • Judge slams Southwest Airlines for ignoring ruling over firing an employee for daring to have wrongthink on abortion. “The judge said the airline acted as if its own policy limiting what employees can say is more important than a federal law protecting religious speech.” (Hat tip: Sarah Hoyt at Instapundit.)
  • Teacher who made racist statements and bragged about how she couldn’t be fired fired. (More.)
  • “Twitter Sues Pro-Censorship Wokescolds Over “False And Misleading Claims” of racism.
  • Tell the truth about the losing streak for the team you’re reporting on? That’s a suspension.
  • Old and Busted in China: Sleeping on someone’s couch because you can’t afford your own bedroom. The New Hotness: Sleeping in the same bed with strangers because they can’t afford a couch

    (hat tip: Stephen Green at Instapundit.)

  • Every day, we drift further and further from God’s light.
  • How Oppenheimer is breaking IMAX projectors. (Previously.)
  • There’s a new meme for ironic failure.
  • “Biden Makes Things Up To 7th Grandchild By Appointing Her Head Of Ukrainian Shell Company.”
  • “Democrats Hire Professional Puppeteer To Continue Operating Dianne Feinstein.”
  • “Trump Indicted For Mocking US Women’s Soccer.”
  • M1A1 Abrams Tanks Finally Heading To Ukraine

    August 10th, 2023

    Remember all the fanfare over the U.S. sending Abrams tanks to Ukraine? Supposedly in time for the much vaunted Spring Offensive?

    That didn’t happen. Evidently the usual Biden Administration competency was in play. But now the allotment of M1A1 Abrams tanks (not the M1A2s previously discussed) are finally ready to be shipped over.

    The first batch of Abrams tanks that the U.S. is providing to Ukraine was approved for shipment over the weekend, and the tanks remain on track to arrive in Ukraine by early Fall, Army Acquisition Chief Doug Bush told reporters on Monday.

    “The last of the set was officially accepted by the U.S. government or the production facility over the weekend. So they are done,” said Bush. The 31 Abrams tanks destined for Ukraine – older M1A1 variants – had been undergoing refurbishment and preparation for shipment for months.

    Though the tanks are ready, they still have to be shipped overseas and sent to Ukraine, “along with all of the things that go with them – ammunition, spare parts, fuel equipment, repair facilities,” Bush said. “So it’s not just the tanks.”

    The goal, said Bush, remains to get the Abrams tanks to the unit level by “early Fall.” He did not give a specific date or even month. Last month, Politico reported that the tanks would arrive on the battlefield in September.

    Helping Ukraine repel Russia’s illegal war of territorial aggression has frequently been cited as a top priority by members of the Biden Administration,a cause in whose over $46 billion in military aid has been sent. Given that the UK’s Challenger 2 tanks arrived in Ukraine in March, it would seem like the Biden Administration hasn’t treated their pledge of Abrams tanks with any urgency.

    To be sure, several U.S. weapon systems (HIMARS, Patriot, Excalibur and various drones) have proven absolutely vital in letting Ukraine resist the Russian invasion. But for something the U.S. defense establishment, and just about all our NATO allies, view as a top priority, the Pentagon as been quite sluggish at getting them tanks. A cynic might wonder if it’s because, being drawn from existing stocks, sending them M1A1s doesn’t grease enough Beltway Bandit palms.

    Given how long it will take to train Ukrainians on them, maybe they’ll be available for the 2024 Spring Offensive…