Black Friday: Thin Crowds and ‘Desolate’ Stores

Americans are spending their Christmas money trying to buy food and fuel. And it’s going to get worse. Until we reform our corrupt and broken election system, we will remain under the boot of party of destruction and treason.

Black Friday Disappoints: Thin Crowds and ‘Desolate’ Stores

By: John Carney, Breitbart News, November 26, 2022:

The busiest shopping day of the year is not as busy as retailers hoped.

Across the U.S., shopping malls are seeing only thin crowds, according to reports in business media. Inflation and depressed consumer sentiment appear to have dampened the holiday shopping spirit.

Reuters reported:

At Times Square in New York City, which was cloudy with occasional light rain, employees were seen waiting inside stores for crowds that so far had not arrived.

Outside the American Dream mall in East Rutherford, New Jersey, there were no lines outside stores. A ToysRUS employee was seen walking around the mall handing out flyers with a list of the Black Friday door busters.

Bloomberg reported:

Around 10:30am at Crossgates Mall in Albany, New York, the ultra low-cost brands and the higher-end buzzy retailers had the most foot traffic, while the middle-market stores were desolate.

Gap Inc.-owned Old Navy, which was offering 60% off most items, had a line so long that some shoppers turned around as soon as they entered the store. Athleisure favorite Lululemon Inc., which had only a few racks of discounted merchandise, and American Eagle Outfitters Inc.-owned Aerie, a popular intimates brand among Gen Z shoppers, also drew big crowds.

Meanwhile, stores like Banana Republic, Macy’s and Urban Outfitters had no lines at all, and only a handful of shoppers.

Overall, the National Retail Federation has forecast that retail sales will be up six to eight percent this year compared with last year. That is a big slowdown from last year’s 13.5 percent increase and the 9.3 percent rise in 2020. After adjusting for inflation, sales may actually be down. The Consumer Price Index is up 7.7 percent compared with a year ago.

November saw a significant decline in consumer sentiment, according to the University of Michigan’s survey. The index of consumer sentiment fell five percent below the October reading, reversing about one-third of the gain since the historic low in June. The gauge of current conditions dropped by 10.4 percent.

AUTHOR

EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved,

VIDEO: The FTX Disaster is Deeper Than you Think by ColdFusion

A reader of ours (H/T LC) sent us a video done by ColdFusion. LC wrote,

If you have not watched this video, do take the time to watch it, I don’t guarantee the accuracy, but I will guarantee you will not turn it off. What a boring life we lead, but, I can sleep at night and they probably can too, because they all are sociopaths.

Watch The FTX Disaster is Deeper Than you Think by ColdFusion:

©ColdFusion. All rights reserved.

RELATED ARTICLE: Crypto-Thieves FTX Funded Katie Hobbs Campaign

Why Sam Bankman-Fried Sounded so Much Like a Rand Villain

Sam Bankman-Fried, unlike James Taggart, is not an idiot. He knew his altruism was phony.


The financial collapse of the crypto exchange FTX was brutal and swift. Almost overnight, its CEO Sam Bankman-Fried saw his $16 billion fortune wiped out.

SBF, as he’s popularly known, managed to fool almost the entire world—though not quite everyone.

In hindsight, it’s not hard to see the red flags at FTX. There was no board of directors. Bankman-Fried couldn’t answer simple questions about his funding. The executive leadership was shady and there was the whole “cabal of roommates” in the Bahamas.

One thing that hasn’t gotten enough attention, however, is SBF’s philosophy of “effective altruism,” a social movement that rejects self-interest and instead focuses on “how to benefit others as much as possible.”

Many people will no doubt applaud SBF for his philosophy. Putting others before oneself is considered by many to be not just a virtue but the virtue, and it could help explain Bankman-Fried’s meteoric rise and celebrity. Legacy media swooned over SBF’s apparent selflessness. Story after story after story gushed over the crypto altruist who wanted to give his wealth away—even as he lived in a $40 million penthouse.

Bankman-Fried clearly liked to talk about his altruism, which many see as a clear and obvious virtue. Or is it?

Ayn Rand famously didn’t see altruism as a virtue; she saw it as a sinister force.

“Do not confuse altruism with kindness, good will or respect for the rights of others,” Rand wrote. “These are not primaries, but consequences, which, in fact, altruism makes impossible.”

Now, I’m not an Objectivist. I actually celebrate giving and see charity as part of my Christian calling. But I think Rand is on to something. While I don’t believe “selfishness is a virtue” or “that greed is good,” I do believe in rational self-interest, the idea that it’s both normal and prudent for humans to advance their own interests in their economic decisions.

The idea of rational self-interest is central to capitalism and was famously articulated by Adam Smith in The Wealth of Nations.

“It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest,” Smith wrote. “We address ourselves, not to their humanity, but to their self-love, and never talk to them of our own necessities but of their advantages.”

Smith, like myself, didn’t see charity as a sin or mere foolishness. But he clearly understood that humans are naturally self-interested creatures and that this instinct is not actually detrimental to human flourishing, but a key to it. This is the miracle of a market economy, which leverages self-interest through trade and voluntary action to improve everyone’s standard of living.

Now, contrast this sentiment with Sam Bankman-Fried, who said he was bailing out digital assets not because he saw an opportunity but because he felt it was the right thing to do.

“It’s not fair to customers,” SBF said on CNBC’s Squawk Box.

Or consider what Bankman-Fried told an Institute of International Finance audience in August.

“It’s okay to do a deal that is moderately bad, in bailing out a place,” SBF said.

Purchasing failing companies to protect their customers seems like a dubious business strategy to me, and it was one of the things that caught the attention of seasoned traders, who began to raise questions about FTX. Those traders turned out to be right. FTX, which recently had a valuation of $32 billion, was massively overleveraged, and when rival crypto exchange Binance announced it was offloading hundreds of millions of dollars of FTT (FTX’s token), a run on funds ensued.

But it’s worth focusing on Bankman-Fried’s rhetoric a little more, because it occurred to me it sounds a little like a character in Atlas Shrugged.

James Taggart, president of Taggart Transcontinental, is the most prominent villain in Ayn Rand’s magnum opus. He talks endlessly about serving mankind and sneers at those who are concerned with crass profits.

“Material greed isn’t everything. There are non-material ideals to consider,” Taggart lectures his sister Dagny, the hero of the story.

Taggart’s smug thinking is what prompts him to take on his own bad deal, a massive expansion of Taggart Transcontinental into Mexico. He confesses to “a feeling of shame” that he owns a railroad, but “the Mexican people have nothing but one or two inadequate lines.”

“The Mexicans, it seems to me, are a very diligent people, crushed by their primitive economy. How can they become industrialized if nobody lends them a hand? When considering an investment, we should, in my opinion, take a chance on human beings, rather than on purely material factors.”

Taggart gets his way and—like FTX—his San Sebastian Line is a disaster. The lesson in both cases is clear: beware business deals based on altruism.

SBF, like James Taggart, spoke often about serving humanity. His concern with climate change, global pandemics, and progressive causes earned him laurels and fawning press. Even after the collapse of FTX, newspapers are discussing his noble efforts “to prevent another pandemic.” But there is also a notable difference between Rand’s petulant railroad baron and Bankman-Fried.

While James Taggart is a mean, surly, unscrupulous man, his altruism seems somewhat genuine; either he’s too stupid to see his good intentions will bear bad fruit or he lacks the self awareness to realize his “altruistic” ideas are not as pure as he believes. (It’s important to understand that even though Taggart spurns selfishness and greed, he is clearly a selfish and greedy person.)

With Sam Bankman-Fried, this appears less true.

In an exchange with Vox reporter Kelsey Piper, SBF’s altruistic philosophy came up. Piper noted he was “really good at talking about ethics” publicly. His response is telling.

“I had to be…it’s what reputations are made of, to some extent,” SBF answered. “I feel bad for those who get [expletive] by it…by this dumb game we woke westerners play where we say the right shiboleths [sic] and everyone likes us.”

From this response, it’s clear Bankman-Fried knew he was a poser. His advocacy was just part of the new game of stakeholder capitalism. (Interestingly, SBF actually refers to ESG as a perversion.)

Sam Bankman-Fried, unlike James Taggart, is not an idiot. He knew what he was doing. I don’t know if this makes SBF more of a villain than Taggart or not.

But it certainly makes Bankman-Fried’s downfall all the more tragic.

This article was republished from the author’s Substack.

AUTHOR

Jon Miltimore

Jonathan Miltimore is the Managing Editor of FEE.org. His writing/reporting has been the subject of articles in TIME magazine, The Wall Street Journal, CNN, Forbes, Fox News, and the Star Tribune. Bylines: Newsweek, The Washington Times, MSN.com, The Washington Examiner, The Daily Caller, The Federalist, the Epoch Times.

EDITORS NOTE: This FEE column is republished with permission. ©All rights reserved.

Demand for Unvaccinated Blood Soaring

Understandable. Vaccine deaths and injuries are rampant.  Vaccinated blood contains the SARS-CoV-2 spike protein. I am unvaxxed and would not take vaxxed blood. It was not so that long ago HIV infection was transmitted via blood transfusion. Considering the lack of testing and trials of the controversial Covid vaccine, this is a legitimate concern.

Demand for Unvaccinated Blood Soaring

The growing demand for ‘pureblood’

By: Dr Panda, November 21, 2022:

Demand for unvaccinated blood is surging worldwide. Bacteria, viruses, prions, and parasites can be transmitted by blood transfusions likewise people vaccinated with the mRNA vaccine have the SARS-CoV-2 spike protein in their blood. The spike protein (travels the entire body) caused by the COVID-19 vaccination last for months (potentially permanently in the body for those who frequently take booster shots).

There are new blood banks being set up in 18 countries so far, that provide this ‘pure blood’

[…]The general blood supply is now full of ‘fully vaccinated’ spike protein-laden blood. Blood Banks require you to indicate if you’ve been COVID vaccinated when donating blood. However they do not pass this information along to the recipient. They know but do not distinguish.

If an unvaccinated person receives a blood transfusion of blood containing the mRNA spike protein (and whatever else is in the vials) then that passes on to the recipient. The spike protein starts replicating again and your body is now a spike protein factory. The unvaccinated potentially become vaccinated along with all the damage that occurs.

Keep reading…..

AUTHOR

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EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

Tales From The Crypto

The spectacular collapse of the FTX cryptocurrency exchange is not just a business story.  It’s a Washington swamp story and Republicans will be investigating it when they take control of the House in January.  At issue is whether “Individuals within the Democrat Party accepted money with knowledge of potential criminal activity occurring at FTX.”

High-flying FTX bought Super Bowl ads and sports facility naming rights.  It amassed a net worth of $32 billion to become one of the largest crypto exchanges in just three years with 28-year-old Sam Bankman-Fried at the helm. It lost half its worth in a matter of days when customers lost confidence and essentially started a run on the bank.  It was reported Bankman-Fried secretly siphoned off $10 billion in customer funds and transferred it to another trading firm he also owned, run by his girlfriend.   The trading firm invested in FTX’s crypto token, the financial roundtrip prompting investor concern.  FTX was left without sufficient assets to pay customers pulling their money out, and bankruptcy ensued.

FTX has been called a Ponzi scheme, but it sounds more like embezzlement and fraud.  News reports don’t talk about money from new investors being used to pay previous investors, as in a Ponzi scheme.  Instead, $1-2 billion simply vanished.  Some of it went into buying $121 million worth of property in the Bahamas, but a lot of it was going into buying influence in Washington.

FTX, Bankman-Fried, and other FTX top executives poured money into Democrat politicians and liberal causes – $28 million went to a Democrat pro-COVID lockdown PAC, and $4 million to a group called Reproductive Freedom for All.  Democrat politicians who benefitted include Senators Dick Durbin and Bob Menendez.  Bankman-Fried gave more than $5 million to Joe Biden’s presidential campaign and was the second largest Democrat donor in the 2022 midterms.  Money also went to Republicans, but it’s common for corporations to make contributions on both sides of the aisle to hedge their bets in the influence game.  In all, an estimated $57 million went to Democrat candidates and groups and $22 million to Republican candidates and groups. [Steve Moore newsletter, 11/21/22]

Another Democrat politician who benefitted is Maxine Waters.  There are pictures of her and Bankman-Fried with their arms around each, smiling.  Another picture shows her blowing kisses to him.  And this is the woman who, as current chair of the House Financial Services Committee, will be holding hearings on FTX next month.  Moreover, nine members of the committee — seven Democrats and two Republicans — received more than a combined $300,000 in political contributions from Bankman-Fried and others at FTX.  It doesn’t take a genius to see the conflict of interest here.  It’s shaping up to be a whitewash, with the chair of the committee blowing kisses at the perp.

Meanwhile, critics are asking ‘what did the SEC know and when did it know it?’  It turns out the father of the girlfriend who ran the trading firm I mentioned earlier worked with Gary Gensler, chairman of the SEC, when both were professors at MIT.  Gensler, former campaign finance chair for Hillary Clinton, has been criticized for not seeing FTX was going off the rails.  A famous short seller who spotted trouble at Enron and other places, had been publicly warning FTX looked like a scam.  In addition, there are allegations Gensler was actively helping FTX find legal loopholes to escape regulation.

Bankman-Fried insists all the money he has been throwing around is completely innocent and not meant to influence lawmakers or regulators.  The House Republicans will be testing that assertion come January, and we’ll see just how innocent all of this really is.

©Christopher Wright. All rights reserved.

Visit The Daily Skirmish and Watch Eagle Headline News – 7:30am ET Weekdays

VIDEO: Highways in The Sky—Aviation On The Road Ahead

Highways in The Sky from Jorj Baker on Vimeo.

It can now be revealed how air transportation became so flawed – that two nominally qualified pilots were so spatially unaware, as to literally fly a serviceable, modern airliner into the ocean, despite installation of quote “Terrain Avoidance” Warning Systems (TAWS) unquote, which were functioning onboard, while under controlled flight, at the time of the accident.

In 1957, US Navy Commander George Hoover – a universal genius of far ranging intellect, vision and capacity – declassified his system of spatial awareness for Navy jet aircraft Aviators, known as the Command Flight Path Display (CFPD) and presented it to Capt. Dan Beard, Vice President of Flight for American Airlines (AAL), at a convening of the Society of Automotive Engineers (SAE), Aviation Committee, which Capt. Beard chaired.

The “Highway In The informally dubbed – Sky” – as CFPD was was so intuitive & immediate for spatial awareness that it would end unintentional “Controlled Flight Into Terrain” (CFIT) altogether, in air transportation, military and the larger aviation community.

Capt. Beard effected no action to install Cdr. Hoover’s system on American Airlines aircraft.

Over the years, mounting to decades, American Airlines and the industry, suffered ongoing fatal CFIT accidents, needlessly killing many thousands worldwide – including the devastating crash of an American Airlines Boeing 757 aircraft at Cali, Columbia on 20 December 1995, killing 160 – in spatial confusion circumstances not dissimilar to the present occasion in Micronesia, in September of 2018.

Three (3) years earlier, in 1992, First Officer P. E. Brooks, AAL, had briefed then AAL Vice President of Flight, Capt. Bill James, a former Naval Aviator, about Cdr. Hoover’s system, describing that even then – some nearly 40 years after first releasing his Navy system to American – Cdr. Hoover was ready to help install the system on American’s fleet.

Capt. James was untimely killed a few months later, in a skiing accident in Utah -ending for the nonce, official renewed initiative on the ‘Highway In The Sky’ at American, and sealing the fate of the 757 passengers & crew at Cali, Columbia, still some three years out from their appointed rendezvous with death. Ironically, unbeknownst to Capt. James – until just those few months prior to his own death -he had owed his life to a Geo. Hoover mandated ejection seat installation, while departing his troubled Navy F-8 Crusader.

James’ successor, Capt. was briefed in detail.

Cecil Ewell, AAL about the CFPD system, by FO Brooks in the very same office, in 1997, following receipt of the Cali, Columbia crash investigation report – in company of Capt. Rich LaVoy, AAL, President of the Allied Pilots Association (APA), Capt. Frank Nehlig, AAL (Ret.), and Mike Lewis, Director of the National Aeronautics and Space Administration’s (NASA) Aviation Safety Program.

Capt. Ewell install Cdr. aircraft likewise effected Hoover’s system no action to on American Capt. Ewell did advocate installing the “Enhanced Ground Proximity Warning System” (EGPWS) on AAL aircraft.

See, “Highways In The Sky: Aviation On The Road Ahead”, by FO Brooks, in the July/August 1997 issue of “Flightline”, a publication of the Allied Pilots Association (APA).

This very same EGPWS system was installed aboard & operating correctly, during the crash of the Boeing 737 of this present occasion in Micronesia.

Those onboard could not have known however, the eventuality of their crash had been predicted two decades earlier, despite the EGPWS installation, in FO Brooks’ 1997 article.

On a flight deck jump seat awaiting pushback at that time, at Dallas Fort Worth International Airport (KDFW), American Airlines’ AMR CEO Don Carty, was shown still images of the ‘Highway In The Sky’ system by FO Brooks, exclaiming,

“Wow, I didn’t even know we had this stuff!”

Then Mr. Carty readily accepted invitation for a complete briefing to follow.

Capt. Ewell later advised FO Brooks by telephone, CEO Carty would not be disposed to receive the CFPD briefing after all, nominally amid labor relations disputes, which had surfaced at American.

During this time, an AAL Boeing 727-223, crashed short of the runway, in controlled flight, low visibility, conditions – not dissimilar to the present instant – at Chicago O’Hare International Airport (KORD).

At nearly the same time, in August 1997, a Korean Airlines (KAL) Boeing 747-200 Jumbo Jet crashed on approach to Guam -in low visibility conditions similar to the present case – killing 229.

The morning following the KAL crash, during a ‘Flight Deck Technology’ conference in Vancouver, British Columbia, Capt. John Hutchison, British Airways (BA, Ret.), a Boeing 747 and later Concorde

pilot, offered remarks to several hundred breakfasting industry attendees, saying the only way to solve the CFIT problem, was to deploy the ‘Highway In The Sky’ system FO Brooks was advocating in his conference white paper.

In November 1997, FO Brooks travelled to England to address the Royal Aeronautical Society (RAeS) about the ‘Highway In The Sky’, receiving their endorsement.

RAeS reprinted an updated version of the “Flightline” article and circulated it to RAeS membership in 130 countries.

While in Europe, FO Brooks recruited participation of others, at centers of advanced ‘Synthetic Vision’ work in Delft, Amsterdam, Hamburg, Darmstadt, Frankfurt & Munich.

Special Effects Wizard Douglas Trumbull, of “2001: A Space Odyssey” movie renown, teamed with FO Brooks to produce the short film “HIGHWAYS IN THE SKY: AVIATION ON THE ROAD AHEAD” premiered at the first of two “Synthetic Vision” conferences at NASA’s Langley, Virginia, Aviation Safety Program, attended by industry hundreds from around the world.

FAA Administrator Jane Garvey was shown the “HIGHWAYS” film at the Mayflower Hotel in Washington, DC in a briefing prepared for her, by attending board members of the Allied Pilots Association -including President Capt. LaVoy, and Treasurer First Officer Bob Morgan, AAL. FO Brooks detailed to Mrs. Garvey, the impeccable credentials of Captain Nick Tafuri, AAL & First Officer Donnie Williams, AAL – much like the Micronesia crew – the highly experienced, former US Air Force, professional airman of the ill-fated Cali crash.

Administrator Garvey issued a public statement, saying ‘Highway’ type Synthetic Vision systems represented a potentially significant enhancement to the safety & e f f i c i e n c y o f t h e N a t i o n a l A i r Transportation System (NAS).

Later the “HIGHWAYS” film was exhibited to NASA Administrator Daniel Goldin, his staff and American Airlines’ AMR Vice Chairman, Bob Baker (deceased), at an Industry Conference hosted by NASA’s Cleveland Lewis Research Center at Cleveland International Airport (KCLE) in Ohio, in October of 1998.

A former TRW engineer involved in sensor-based spatial awareness, Administrator Goldin, in company with attending FAA Administrator Garvey on the dais, detailed to the five or six hundred other industry attendees, that one day soon, a business jet would depart from Cleveland, arrive at Teterboro, NJ and return safely, using

‘Synthetic Vision’ – never having seen anything through the cockpit windows.

It was beginning to appear The Sky’ would at last industry advancement.

the ‘Highway In lead to broad

That morning, at a private breakfast with FO Brooks, AMR Vice Chairman Baker had offered to set up a meeting in Seattle, Washington with Boeing CEO Phil Condit, to prime the pump for a ‘Highways’ paradigm shift among vendors and at American. To his credit, Baker later testified before Congressional committee, as to the desirability of commencing ‘Synthetic Vision’ cooperation between industry, the FAA & NASA – though internal AMR company communications would later omit this portion of his testimony from the AAL employee news publication.

Based on the ‘Highways’ Administrator Goldin, briefing, NASA earmarked an additional 50 Million USD for ‘Synthetic Vision’ programs in NASA’s Aviation Safety Program.

Later in December 1998, Goldin convened an executive level meeting with industry CEO’s, about larger cooperation with NASA on ‘Synthetic Vision’ and other necessary improvements to air transportation.  Mr. Goldin was at pains to demonstrate he regarded the industry as NASA’s customers. In fact, he vigorously asserted this doctrine to the NASA employees in attendance at the Cleveland conference – in front of everyone.

The knock in the industry was NASA folks enjoy ‘science projects’ with little practical effect in the marketplace.

To his credit – on his watch at least – this would not be so, for Administrator Goldin’s NASA.

Mr. Goldin specifically authorized the Space Shuttle Radar Topography Mission (SRTM) to acquire topographic data over 80% of the Earth’s land mass, creating the first ever near-global data set of land elevations. The ten day mission flew from 11-22 February 2000, producing the terrain data necessary to populate the ‘Highway In The Sky’ terrain database for aviation.

Never before had industry & government functioned so well together.  It was happening!

Meanwhile, FO Brooks & Professor Wolfgang Kubbet of the University of Technology – Darmstadt, Germany agreed to write a proposal to NASA to fund creating terrain database protocols necessary for ongoing monitoring of changing surface obstacle data, into the future. FO Brooks dubbed the effort the “International Terrain Database Integrity Group” (ITDIG).  Commercial aviation chart manufacturer Jeppeson, Inc. hungrily joined in & the Radio Technical Commission for Aeronautics (RTCA) stood up an industry committee to manage the work. The Allied Pilots Association detailed a Graphic Navigation Committee member pilot to serve as secretary for the group.

NASA’s Aviation Safety Program issued a contract for the work.

NASA’s ’Synthetic Vision’ systems were flown on NASA 737 and 757 aircraft by technical pilots of American Airlines, Alaska Airlines and others – at KDFW, challenging Reno International Airport (KRNO) and elsewhere.

Sadly, labor relations descended further into long-simmering acrimony for Americans Airlines and its employee groups in the late 1990’s and abruptly, advances on shifting paradigm for true spatial awareness in air transportation aircraft, using the “Highway In The Sky”, were quietly subsumed by what can now be judged, as pecuniary, shortsighted considerations.

At length, Cdr. Hoover (USN, Ret.) died and was interred with full honors at Arlington National Cemetery in March of 1998, eulogized by former US Marine Corps Aviator, member of the ‘President’s Hundred’ at the National Matches at Camp Perry, Ohio, the Marine Corps High Power Rifle Team and the APA Graphic Navigation Committee (GNC), First Officer Jeffrey Cooper, AAL.     The US Navy refused a fly over.  American Airlines LAX Chief Pilot, Capt. Len Duncan, a former Navy S-3 Viking Aircraft Commander, refused First Officer Brooks’ attendance at the memorial despite request of Cdr. Hoover’s widow. Captain Duncan had, a decade earlier, handed an American Airlines pilot employment application to FO Brooks, a then US Coast Guard HU-25A Falcon Aircraft Commander.

Cdr. Hoover’s farsighted thumbprint on American Society is yet understood by but a handful of remaining admirers.

In fact, the flat panel display you are reading this recitation with now, extended as just one of the many innovations in his remarkable military, aeronautical & space programs.

Capt. Cecil Ewell, a Navy Combat veteran, (retired from AMR with full pension & perquisites intact) never realized his full charter for leadership in the air transportation sector, as Vice President of Flight for American Airlines, the largest air carrier in the world. His oft recited airman maxim,

“Enter no airspace your mind has not already occupied,” now echoes deficiencies hollow with tinny irony, as of the EGPWS system he advocated, are laid bare, in the operation.

Capt. Rich Lavoy, a former Navy P-3 Orion Aircraft Commander, later retired from American Airlines, having been shooed from office by impatient peers embroiled in labor strife with AMR, who felt compulsion to shift from his long-view, visionary leadership style, as President of the pilot’s association, to a ledger-oriented, dollars & cents approach. APA’s Graphic Navigation Committee – stood up to lead the industry to the necessary future beckoned by Cdr. Hoover’s insightful vision – was abdicated in near-sighted, even myopic focus, at the moment it was needed most for burgeoning air transportation. This was especially true in non-English speaking cultures, where international standard, English-placarded flight decks, are nevertheless a necessity to operability in global air traffic. Pilot Association board members never quite grasped that emoluments & remunerations they coveted to extract from an adversarial

Railway Labor Act (RLA) process, lay before them like a smorgasbord of professional credibility, in the industry leadership they eschewed to harvest, by shifting operational paradigms.

Design void, created by the American pilots association leaders’ folding their tent on ‘Synthetic Vision’, connects directly to the present Micronesian event. They had turned their backs on perhaps the greatest opportunity that would ever present itself, to reshape their entrenched industry -mired in decades of railroad style, ‘steam gauge’ thinking – to emerge as the new leaders of an improved, more humane, safer & more effective air transportation system.

CEO Don Carty of AMR stepped down, sometime after a teleconference call on the afternoon of September 11th, 2001, with his fellow US major airline CEO’s and the FAA Associate Administrator for Aviation Safety & Security, General Michael Canavan, US

Army (Ret.), during which Mr. Carty and his peers strenuously & unanimously argued for getting US airliners immediately back up in the air, to prosecute airline business plans despite continuing, unmitigated, demonstrated threats to the American public

and to the nation’s strategic infrastructure by air terrorism – all of which registered on the chagrined, disbelieving ears of Administrator Canavan, who had just been seated in his FAA safety post, a short nine months earlier.

He would not last long.

Later it would be realized, as many as a dozen aircraft had been targeted for use in attacks from coast to coast.

AMR and American Airlines would pay a dear price for Mr. Carty’s stunning hubris, when a week into October of 2001, an American Airlines Boeing 767 wide body aircraft suffered another breach attack upon its cockpit, nearly causing loss of the aircraft and its over 170 passengers & crew, while on descent into heavily populated metropolitan Chicago, as a disturbed assailant burst through the cockpit door at a run, grabbing the captain’s control yoke, intent upon crashing the aircraft from altitude.

Air Transportation owed its very continuity to the courageous flight crew onboard that day, including Capt. Dean Weber, AAL and First Officer Vince Belzer, AAL who physically fought the intruder off and subdued him.

Capt. Weber managed to body jet in controlled flight cockpit melee keep the wide during the wild.

A former US Marine Corps Aviator and collegiate wrestler, FO Belzer exercised remarkable restraint in sparing the life of the assailant that day – literally while New York’s toppled Twin Towers were still smoldering, on the heels of September’s horrific 9/11 events just weeks earlier -realizing in the moment, a deadheading, uniformed American First Officer had raced forward, in company of other passengers, to appear at the cockpit door to assist FO Belzer with removing the attacker from the flight deck. It was a sticky instant as, all alone, Vince was compelled to quickly decipher what purpose brought them en masse to his door step, just then.

Had that aircraft gone down – so quickly on the heels of 9/11 tragedies – it is certain the entire air transportation industry would have been grounded once more, this time for an extended period, pending results of the accident investigation & deployment of substantive measures to secure the National Air Transportation System, something yet to be fully achieved…even now.

So much for business plans.

Several weeks earlier, an internal American Airlines memo, entitled “Airline Safety Action Plan” (ASAP), prepared by FO Brooks, had predicted such ‘copycat’ attacks upon the flight decks of transport aircraft.

In reflection, it was easy to see – now that it was understood how simple it was to enter the flight deck – there would follow more of the same.

The ‘ASAP’ memo was circulated among pilot officials, AAL Flight Managers and forwarded to Senior Vice President of Operations for American, Gerard Arpey, (later AMR CEO) describing concrete measures, in a ‘2 week, 2 month & 2 year’ response, to secure the nation’s air carrier operations.

The ‘ASAP’ plan would go largely unheeded – save perhaps for some well-meaning, but ineffectual Congressional interest – even to present.

Capt. Frank Nehlig, a former combat proven Naval Aviation Pilot (NAP) like Geo. Hoover and former American Airlines Base Manager at Los Angeles International Airport (KLAX) – during Civil Reserve Air Fleet (CRAF) lift provided by American Airlines, supporting opposition to Communist incursion in Southeast Asia in the 1970’s – was laid to rest along the banks of the Delaware River, on a little rise, underneath the approach path to Philadelphia International Airport (KPHL).

He maintains quiescent vigil there, peradventure, a lonely sentinel, should his brethren stray below glideslope, of a future dark & stormy evening in Pennsylvania.

Captain Nehlig had accompanied FO Brooks on several enjoyable visits to Cdr. & Mrs. Hoover’s lovely Pacific Palisades home to discuss American Airlines deployment of George’s ‘Highway’ system.

As his fellows long observed – Fate is the Hunter.

First Officer Brooks was excoriated by airline functionaries, when he and other American pilots across the system, stood to voice candid objections, to continuing operations – absent substantive mitigation of security threats in the weeks & months following the demonstrated breaches of the 9/11 attacks.

He had refused to choke down the perverse Big Lie, controlling airline managers had foisted upon pilots & cabin crew, to parrot before the traveling public that – All is Well and Not to Worry.

Once again, his admonitions had proved prescient.

Out of these contested chapters, returned the long-denied capacity of US air transport pilots to keep & bear arms, for protection of their passengers, crew and the American public.

Ten years later, on 1 November 2011, before AMR would prospectively declare bankruptcy, as parent corporation of American Airlines, FO Brooks retired per force, some fourteen years early – to preserve receipt of what pension had till then accrued.

Among the some 270 10,000 pilots at American only senior airmen managed to correctly decipher the signals, departing with pensions intact, before that door would promptly swing shut forever. Ironically, the sudden departure of these senior pilots -many populating the wide body, international routes, where the greater increment of revenue is yielded – forced the hand of CEO Arpey and his merry band of rapacious Wall Street privateers, to prematurely trigger the corporate bomb they had constructed, distastefully imploding the airline early, during the lucrative holiday travel season, as international crew ranks thinned alarmingly and the prospect of further early retirements loomed in the AAL pilot corps, creating a great sucking sound, as revenue waned among unserviced routes & pension obligations quickly mounted by an order of magnitude greater than customary – a double whammy.

Such were the sub-geniuses afoot at the helm of the world’s largest airline.

Their tens of millions in personal guarantees and more, at length did however, demonstrate a certain clever venality, by the bye.

Messieurs Arpey, Horton, et al, at AMR, while busy accounting their pre-packaged fortunes, would perhaps never realize the coded signals passed among experienced American airmen – in the clear, for all with ears to hear – portending of the Damoclean Sword about to befall them.

Again, Enter no airspace your mind has not already occupied.

Nonetheless, for the larger part, the dawning realization by pilot leaders that they had inadvertently backed their way into the control they had long coveted at American Airlines, by finally withholding their further service & choosing whole, lump sum retirements, rather than bindings of tenuous lifetime annuities from the Airline – in an industry with virtually no margin over it’s previous century of blood, sweat, tears & travail, among the wind scoured bones of many a defunct carrier -came too late for pilots to wield with practical effect.

The power yet available to them in withholding their service entirely – RLA be damned – would soon be smartly curtailed forever.

On November 29th, 2011, AMR motioned for Chapter 11 Reorganization, in the US Southern District Court of Manhattan, advised by Mitt Romney’s Bain Capital, in a secret, prepared action – months in the planning – that would see some 40% of employee pensions and more, dissolved at a stroke, under summary gavel of a complicit, buccaneer bankruptcy court.

AMR had some $5 Billion in cash and tens of billions more – in American Airlines routes & assets – at time of its gratuitous filing.

The soaring American Airlines Eagle was now become a Predatory Capital Vulture.

In Matthew 6:24 we learn, You cannot serve God and mammon.

T’was ever thus.

Thus did it come to pass, that at Chuuk in Micronesia, a perfectly good passenger jet could be accidentally driven into the water, with many lives precariously in the balance, in scheduled air transportation, as late as the year of our Lord 2018, while systems to preclude such an ignominious fate had flagged untended for six (6) decades and more, at the highest levels of air transportation authority.

And so it goes.

©P. Brooks. All rights reserved.

Here Are Democrats Who Got FTX Millions

Over 92% of the 44 million dollars FTX went to Democrats, the few Republican recipients were Never Tumpers – Democrats in GOP clothing.

Bankman-Fried and another FTX executive gave the vast majority of donations received by a group that gave exclusively to Democrats

By Thomas Catenacci, FOX Business, November 2022:

Sam Bankman-Fried, the founder of bankrupt crypto exchange FTX, was a major contributor to Democratic candidates during the midterm election cycle, funneling most of his donations through a little-known political action committee (PAC).

Overall, in 2021 and 2022, Bankman-Fried donated approximately $38 million to various candidates and PACs, mainly giving his cash to Democratic candidates and left-wing groups, according to Federal Election Commission filings (FEC). The majority of his political givings, though, went to the Protect Our Future PAC, a group founded in January that is dedicated to boosting candidates committed to preventing future pandemics.

“Our country’s leaders failed to prepare for a pandemic experts warned for years was possible, and the result was more than a million preventable American deaths, trillions of dollars in economic damage, school closures, loss of freedoms, and untold suffering,” the PAC states on its website

“Our candidates are committed to safeguarding our nation from future global pandemics, so this is the last time in our lifetime, and our children’s lifetimes, that we will face the devastation that has gripped communities across the U.S. since 2020,” it continued.

[ … ]

Bankman-Fried’s contributions accounted for roughly 95% of the roughly $28.5 million raised by the PAC. The only other major contributor to the PAC was Nishad Singh — Bankman-Fried’s business partner and top FTX executive — who gave $1 million to the group the same day Bankman-Fried wired his initial contribution in February.

While Protect Our Future PAC appears to be a bipartisan group based on its website, it exclusively supported Democratic campaigns in the run-up to the election.

The group supported Carrick Flynn, who ran to represent Oregon’s 6th Congressional District, far more than any other candidate, giving about $10.5 million to his campaign. However, Flynn was defeated by fellow Democrat Andrea Salinas in the state’s May primary. Salinas beat her Republican challenger last week.

The PAC also gave $1.1 million to Adam Hollier of Michigan and Josh Lafazan of New York, two other Democratic candidates that failed to make it out of their respective primaries.

In addition, Protect Our Future PAC pushed more than $1 million to Reps. Lucy McBath of Georgia and Shontel Brown of Ohio as well as Reps.-elect Jasmine Crockett of Texas, Valerie Foushee of North Carolina and Robert Garcia of California.

Other recipients of the PAC’s donations included Rep. Jesus Garcia, D-Ill., and Reps.-elect Morgan McGarvey of Kentucky, Maxwell Frost of Florida, Sydney Kamlager of California, Jonathan Jackson of Illinois, Nikki Budzinski of Illinois, Jared Moskowitz of Florida, Rob Menendez Jr. of New Jersey. The candidates received between $200,000 and $972,000 from the PAC.

Read more.

AUTHOR

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EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

The Crossroads of Collectivism: Trump Tax Plan, Laffer Curve and Reagan & Thatcher Prosperity in the US & UK

Collectivist States seek Total State Power by Force, Political Action & Economic Means. Once a State controls the Means of Production & Distribution it quickly controls the Wealth of the People. Under Compulsion, Liberty evaporates & horrid enormities occur as the State purges Citizens refusing surrender. These ill effects are the same regardless of which sector in the political spectrum Collectivism arises from.

The United States has reached a Tipping Point beyond which the Aggregation of Total State Power into the hands of a Cabal of Rulers of vetted Legislators & private Central Bankers will be fully consummated – unless a political course change for the Ship of State is made in the present election cycle.

With the reasonable premise we do not need to be taxed more – here are some thoughts about taxation policy & economic circumstances underlying the present, or any, political circumstance.

To start, it is always far more serious if taxes are too high for effective compliance – than if an increment of revenue is lost by tax reduction. Lowering tax rates actually increases revenue – as careful consideration of the following information shall illuminate.

Consider President Ronald Reagan’s experience.

Reagan made tax cuts with a cooperative Legislative Branch. Presidential Candidate Donald Trump can do the same – should Republicans hold control in the House & Senate in the general election of November, 2016.

Taxation advisor Arthur Laffer was a member of Reagan’s Economic Policy Advisory Board from (1981-1989).

Laffer also advised Prime Minister Margaret Thatcher on fiscal policy in the UK during this period.

As you may be aware, simply stated, Laffer’s taxation premise is:

If taxes are low, compliance is high & if taxes are high, compliance is low.

Dubbed the Laffer Curve (LC), it is a quantification of human nature known for centuries.

The chart below expresses the LC axially.

The Laffer Curve

It also happens to demonstrate the realization European monarchs arrived at several centuries ago, assisted by the Rothschild family banking franchises. When you tax people around 50% of their earnings, they begin to lose incentive to participate. For a monarch this could mean losing everything – including one’s head in a revolt.

Enter the concept of Fiat Currency – printing money to bridge the gap between a monarch’s cultural limitation in tax receipts & the additional cost of Imperial Designs. This is the camel whose nose is presently under the US fiscal tent.

A Monarch (or Government) has only to print more currency to reach further into the purses of Subjects (or Citizens) because each unit of currency in their pockets is devalued by the addition of newly created units arriving in circulation, printed out of thin air, in the act of Monarchical (or Legislative) Fiat.

After all, a nation’s currency in its entirety, reflects the sum total of a nation’s Debt – which can be divided into an infinite number of parts or units.

This is the same Central Banking trick known today as ‘Inflation’ – so named because prices of goods & services become necessarily inflated to reflect the intentional devaluation of each unit of the currency.

In this way, Legislators escape culpability for grossly over-spending the People’s Treasure – inflating away its value in an unending game of self-interested appropriation – under cover of Central Bank ‘monetary policy’, over which politicians purposefully have no statutory control.

In return for this political cover, Central Banks accrue interest on Debt Notes they issue from thin air – paid by a government with the power to coerce its people through taxation enforcement up to & including penalty of imprisonment or corruption of blood.

Thus Inflation is onerous, unseen, unbridled & unlegislated Taxation.

By the way, the Monarch (or Government) does not suffer the effect of Inflation, because as much fiat currency as necessary can be printed without limitation – to pay for the original purchase supporting imperial (or state) designs.

The totality of this scheme is quite divisive in governments of popular form.

A few examples illustrate the point.

If government employees receive ‘inflation-adjusted’ compensation, they have a compelling personal stake in perpetrating the unlegislated tax of inflation upon their fellow citizens. This self-interest becomes manifest in several unhealthy expressions for a Republic.

For example, citizens who take government pensions or benefits become wholly compromised in any consideration of the merits of government monetary or other policy & should honorably absent themselves from political advocacy – unless willing to demonstrate complete renunciation of those benefits.

Similarly, the until recently, unheard of practice of active duty US Military Officers engaging in political advocacy – previously forbidden by Service traditions & the Uniform Code of Military Justice (UCMJ) – is now commonplace.

Witness recent Obama campaign signs in the front yards of active duty Military Officers in Washington, DC area communities. Something compelled these officers to do this. This is dangerous precedent for the preservation of Liberty, under a latent threat of military coercion in US politics.

Thus governments become entrenched in folly & inequity that ultimately leads to their dissolution in revolution.

To conclude the point on taxation policy, the following from the Laffer Center’s website is succinct:

“Importantly, the Laffer Curve does not say whether a tax cut will raise or lower revenues, nor does it predict that any and all tax rate reductions would necessarily bring in more total revenues. Instead it says that tax rate reductions will always result in a smaller loss in revenues than one would have expected when relying only on the static estimates of the previous tax base. This also means the higher the starting tax rate, the more dramatic the supply-side stimulus will be from cutting the tax rate. It is possible this economic effect will swamp the arithmetic effect, causing an actual increase in tax revenue.”

Reagan tax cuts combined with cuts in Federal spending produced the real, positive economic effects Laffer described.

Mrs. Thatcher achieved similar results in the UK.

Prosperity resulted.

How much?

For a cogent discussion of the remarkable results achieved with tax reductions by Reagan see: Revisiting Reagan Tax Cuts.

Then politics crept in and the advances were incrementally squandered by forces of what President George Washington called ‘Interest’ – meaning political Self-Interest. In our discussion, we can call this effect ‘Entitlements’.

Mrs. Thatcher codified it another way, calling it socialism: “The problem with socialism is that you eventually run out of other people’s money.”

How did this happen? For an excellent summation see these two links:

  1. Stagnation Prosperity Stagnation: 
  2. Reaganomics Tax Cuts Alone are Not Enough

Some further observations about how this happened are worth emphasizing. They highlight structural flaws which must be corrected by the People using further Constitutional Amendments.

First, in the smoke & mirrors world of Congressional appropriation of funds & extra-governmental management of monetary policy by the Central Bank Cartel known as the Federal Reserve (Fed), there exists a Deliberate Disconnect in Accountability to the People – because federally elected Legislators cannot be held accountable for monetary policy actions of the private entity Fed. This crippling slight of hand supports vast transfers of the People’s Wealth to the Fed over time – the very root of income disparity in our society today.

All this results from the Federal Reserve Act of 1913 – which established US Central Banking for the fourth time – and from the purported ratification of the 16th Amendment to the US Constitution in 1913, which created Income Tax.

It’s no accident they occurred simultaneously – a one-two punch for the Rothschild Model in a popular government.

AMENDMENT XVI — The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”

We’ll deal further with rectifying the problem of the Fed below, but there’s an obvious solution to the inequities & inefficiency arising from Income Tax.

Income Tax must be abolished by a 27th Constitutional Amendment repealing the 16th Amendment. Income Tax can then be replaced by a Consumption Tax in a 28th Amendment. The Consumption Tax (CT) is a very, very low automated percentage of each transaction (no more than 1%). CT obviates the need for an Internal Revenue Service
(IRS), which can be largely retired & eliminated. The aggregate volume of transactions occurring in the US economy ensures more than enough revenue to conduct the nation’s business. Happily, the Laffer Effect of tax reduction boosting an economy, will ensure the US economy reaches the most robust dimensions ever enjoyed.

Understanding the elegant simplicity & unimpeachable fairness of the Consumption Tax is subject for another discussion. Suffice to say here, CT is real, effective & has been successfully used before in the United States.

Additionally in 1971, the Nixon Administration repudiation of the ‘Gold Standard’ backing US currency opened ‘Pandora’s Box’ to the ills of fiat currency because Legislators, in collusion with Central Bankers, could print untethered currency to their heart’s content – and have! It took Federal Legislators & Presidents a few years to fully realize they were no longer accountable to the People for ‘Sound Money’, but they caught on quickly enough – in an era of Legislative Bill ‘Riders’ – to do serious damage to the national Treasury. Federal Debt has spiraled uncontrollably upward ever since. A return to backing US currency with Gold & other precious metals will help quickly dispatch this Inflation Racket. President Richard Nixon’s Executive Order of 15 August 1971 – the policy instrument authorizing fiat money – can be cancelled to commence the process of returning to Sound Money.
The following chart will water the eyes of any thinking American – the more so because it’s already out of date – the US Federal Debt now stands at nearly $20,000,000,000,000 (trillions):

US Federal Debt $20 Trillion

The American Public is paying a staggering $440 Billion in annual interest – just to service the US National Debt.

Who receives this interest? The few members of the Federal Reserve – a private entity. See chart below.

$440 Billion Annual Interest Paid On US $20 Trillion Debt (Aggregated Monthly Over Fiscal Year)

US Entitlements & Debt Interest in the next 15 years, completely crowd out the primary function of the Federal government – Defense of the Nation. Repeat, there will be no money for Defense.

Why would a nation do that to itself?

On the chart below – at the intersection of Revenue & Debt – lay the next American Revolution.

US Entitlements & Interest On Debt Consumes Entire Federal Budget

See also:

Question, you ask:

“With the majority of accumulation of $20 trillion in US Federal Debt since after 1971, why haven’t the prices of goods & services inflated through the roof – most particularly given acute Federal Budget excesses committed by Congress & the Executive Branch over the last 8 years from 2008-2016?”

Answer:

The post Word War II Baby Boom Generation of Americans is now in the stage of life during which shedding debt & downsizing is the norm. This effect is destroying private debt at a rate coincident with unrestrained creation of debt by government.

When this generational force has subsided, prices must inflate under aggregated & continuing unchecked currency devaluation by Federal government through Unbridled Spending & Debt Interest.

Our Nation & the world will experience the true Mother of All Depressions.

This is because each new added dollar represents a smaller & smaller slice of the Federal Debt Pie – as that Pie is sliced more & more thinly. Ultimately, US Debt paper (dollars) will be rendered worthless, each representing a slice so thin, it won’t be negotiable.

As the currency collapses, every sector of the economy must absorb the loss.

Home prices, government pensions, everything of value is lost. This is what happened in 1929, when markets & assets lost 90% of their value & remained devalued for the decade long Great Depression.
In the customary Revaluation that follows, secured creditors deemed ‘Too Big To Fail’ are made whole on the backs of depositors & mortgage holders – in what has become the customary “Bail Out”. Only this time, since the currency will be worthless, it will be a “Bail In”. As we saw in Argentina & other revaluations, US citizens will be permitted to withdraw only that amount of their own money not imperiling a Bank’s Reserves, which at a maximum represents only 10% of Bank Obligations – due to a logic-defying practice known as ‘Fractional Reserve Lending’. And then payment will only be made at a rate consistent with a revalued currency at pennies on the dollar.

It gets pretty complicated when Central Banks tinker with money supply as a chief tool for managing monetary policy.

In fact, it is criminally complicated. Central Bankers the world over should be held accountable for malfeasance & for the untold heartache they have caused for hundreds of millions of people through the profiteering scheme of ‘Inflation’ which is at the root of nearly two centuries of boom & bust cycles and several armed conflicts among nations.

To start in the US, using our 27th Constitutional Amendment abolishing Income Tax, we must likewise abolish the Federal Reserve Act of 1913 to prevent further Central Banking & to end forever the two senseless practices of paying interest on our National Debt & paying the Unlegislated Tax called Inflation. A deeply onerous Racket the private ‘Federal Reserve’ Bank franchise must end permanently, if our Republic will survive & flourish. Happily on several past occasions Central Banking has been successfully repudiated by Congress & by Presidents Washington, Jefferson, Madison, Jackson & Wilson. Absent this critical step, the People’s wealth will be consumed.

In response to the assertion that a welfare constituency in the United States has no skin in the game if they pay no tax, there is a more direct & sustainable course than fretting about lack of taxation participation:

End entitlements all together. This is fiscally sound, Constitutionally sound & a certain inducement to innovation in income production among tax skates. The Framers never intended the nation would encumber itself in this way.

Entitlements are a problem worth worrying about.

In sum, there is merit to be found in the Trump Tax Plan & some cogency in its numbers. Certainly, it does not go far enough, but if extended growth of the economy can kick the can a little further up the road – to wean Americans off entitlements through employment – it may be of interim use. In totality Trump’s Tax Plan appears to resonant with the structure of Reagan era taxation policy, which proved beneficial & prosperous.

Taking the ‘Drag Brake of Taxation’ off the ‘Wheel of the US Economy’ will create unprecedented Prosperity in the United States. The only reason not to do so is if you don’t want the US Economy to prosper & soar! Why would someone want that?

As a related economic issue, Mexico is a failing State ripe for the next chapter of its history. Mr. Trump’s border wall, will prove important to our Nation’s Security & Economy Stability as the Mexican State trajectory unfolds. Trump’s plan contains sensible points of leverage available to the United States in dealing with this issue. Certainly, allowing
further abuses of US Sovereignty & Security associated with Mexico cannot serve US national interests – nor the long term interests of our southern neighbor.

Mexico’s trajectory is Mexico’s & not ours – violent La Raza Racists & other Provocateurs not withstanding.

See: Pay for the Wall

While the attention-deficit bombast passing for Mr. Trump’s style can be off-putting & perhaps counter-productive, there is no question it is occasioned by deep sincerity in promoting a Return to American Greatness. The deeper one looks into his platform, the stronger his arguments become.

Some would say his style is bona fide of something other than dysfunctional politics as usual. That may well be true.

That said, regarding the fallacious assertion the Trump Tax Plan is not viable, it may be more to the point to observe the challenge is to find any discernible tax plan at all from Candidate Clinton.

Please see: Hillary Clinton’s Plan to Raise American Incomes

Even a cursory look at this ‘offering’ reveals button-pushing, pandering & double-talking rhetoric largely offensive to Liberty loving Americans & belies a measured political calculation that is all too familiar. Of course, we are all fed up to here with that sort of self-serving Collectivist politic. The plain truth is Mrs. Clinton’s bromides do nothing to address serious, unsustainable structural defects in US Treasury, Taxation & Monetary Policy.

Given the overt & concentrated assaults on American Liberty, sovereignty, morality, normative culture, fiscal responsibility & official accountability that has come acutely – even brazenly – to the fore in the Obama full court press of the last 8 years, it appears we have arrived at a crossroads of historic import for the trajectory of the greatest nation to ever appear on Earth, the United States of America.

On such occasions, all hands must be mustered & the decks cleared for action.

We each must decide whether our personal trajectories are sufficient reason to countenance further politics as usual, or whether Liberty is more precious to the longer course of our Nation’s affairs for Ourselves & Our Posterity. The Tyranny of Collectivism stands before us & we are already well worn in its rub – a state no nation can hope to long endure.

An answer must soon be given if our Experiment is to last. Though we risk Tyranny of another stripe, it seems necessary to answer the present danger of Collectivism. As the Party dice appear to have been cast, this would mean support for Trump. The alternative must be deemed unrecoverable.

© Copyright 2016 Strategic Waters International, LLC. All Rights Reserved.

What Happens When You Google ‘Capitalism Fights Racism’

We are led to believe that the free market is the force responsible for so much of the injustice, racism, and inequality seen in the modern world. But is this true?


If you look up “capitalism fights racism” in Google, the top search results will show articles like: “Is Capitalism Racist,” “Capitalism without Racism: Science or Fantasy,” and, “The Rise of Capitalism and the Emergence of Racism.”

Reading those titles, it would seem as if the most triumphant economic model the world has ever seen is rooted in a racist, hegemonic structure meant to benefit society’s overlords. It’s a good thing we have Google to open our eyes to this inhuman system.

Facetiousness aside, (post)modern Western society views capitalism as the very ugly elephant in the room; it doesn’t want to admit that it’s a crucial cog that keeps civilization functioning, and would rather oggle pipe dreams like socialism through heavily rose-tinted glasses.

We are led to believe that the free market is the force responsible for so much of the injustice, racism, and inequality seen in the modern world. But is this true?

The fact of the matter is, capitalism as a system has always been a force for good, and this includes the tumultuous history of the United States. Even during the eras of Reconstruction and Jim Crow, periods that saw rampant civil rights abuses perpetrated on black communities, capitalism was the saving grace, helping people rise above their situation, the adversity they faced, and a culture still reeling from the effects of civil war.

As Milton Friedman stated in his book Capitalism and Freedom:

“It is a striking historical fact that the development of capitalism has been accompanied by a major reduction in the extent to which particular religious, racial, or social groups have operated under special handicaps in respect of their economic activities; have, as the saying goes, been discriminated against.”

With forces in social media, legacy networks, and the government working towards undermining the idea that capitalism is a force to promote individual liberty and agency, it’s important to revisit a few stories of how the free market lifted people out of poverty and combated racism.

Philip A. Payton (1876-1917) was a 20th Century black real estate entrepreneur from Harlem, New York. De facto segregation was still present in American cities at the time. Manhattan was no exception. With his acquisition of brownstone units after a number of white families moved out, Payton acted to provide more housing to black renters in the Upper West Side. Considering the racial tension of the time period, it’s safe to say the landlords weren’t too happy about this.

Hudson Realty Company aimed to resegregate the area by buying out the black-owned units and evicting the tenants. Payton returned the favor to white-owned units, and offered them to previously evicted black renters. Payton prevailed in the end as Hudson Reality gave up its goal of resegregation. Later attempts were made by real estate associations that used race qualifications to prevent black families renting, but were also soundly beaten by Payton and other black entrepreneurs who were inspired by his example.

Payton’s Afro-American Realty Company grew to $1 million in assets and helped numerous black families move to areas they wanted to live in—not just where the city relegated them to. He used the free market and the demand for better housing to provide a service to his community. Despite the racial obstacles, Payton prevailed because, at the end of the day, he understood that discriminaton is no match for the will of the people. As he once advertised: “The very prejudice that has heretofore worked against us can be turned and used to our profit.”

Sarah Breedlove was born in Louisiana, just four years after the Emancipation Proclamation was signed by President Abraham Lincoln. Having been orphaned at the age of seven and forced into domestic servitude to survive, Breedlove had a very grim outlook early on for her life. She would later recall how she, “…had little or no opportunity when I started out…having been left an orphan and being without mother or father…”

Despite this, Breedlove would go on to work hard and eventually develop her own hair care line. As the African American market was largely neglected at the time, Breedlove seized the opportunity to cater to a growing demographic, and began to sell her own hair products.

She would later be (famously) known as ‘Madam C.J. Walker’ after marrying Charles Walker in 1906. Much like freshly tapped oil, her business expanded rapidly, finding traction in black communities throughout the country. A small-time operation grew to include a factory, a beauty school, and a hair salon. C.J. Walker was known to hire women for top management and staffing positions, something unfathomable at the time. At the height of the company, it’s noted that several thousand women were employed as sales agents, and countless more trained in hair care.

Madam Walker’s company would have been worth around $10 million in today’s currency. She is the first recorded self-made woman millionaire in American history—an incredible feat on its own merit, but even more amazing once you factor in that she lived during a time when blacks were still seen as second-class citizens. Walker took the adversity she experienced and built a business literally from the ground up. Without the underlying culture of entrepreneurship and the free market system, who’s to say if her company would even have been formed at all.

The march to liberty which culminated in the Civil Rights Act of 1964 conjures up images of marches, sit-ins, and MLK’s famous speech at the National Mall. A lesser-known aspect was the rise of alternative markets that helped push back against racist economic policies, which ultimately sought to constrain, not promote, markets. Under Jim Crow, black communities were restricted in their public purchasing decisions. They were prevented from going to certain stores, restaurants, and communal places. If they did manage to buy goods from a white-owned store, they were met with racist remarks, condescending tones, and even predatory pricing.

Sears revolutionized the buyer’s experience with the use of catalogs, allowing consumers to mail-order goods to their homes. This put the company at an enormous advantage by expanding their market, serving many thousands more customers than a typical brick-and-mortar shop could. Taken for granted today, the idea of ordering and receiving your product without leaving your house was a novel—and potentially life saving—invention for 20th Century families.

This innovation allowed southern Blacks to order items otherwise unavailable at their segregated stores. With mail-order, black customers also didn’t have to experience the racism and inhumanity they experienced during some public outings; they could order what they wanted when they wanted, just like the average white at the time. Capitalist innovation not only worked to benefit the companies involved, but also served to bring value to diverse communities; in this case, it acted as an escape for so many black consumers constrained by Jim Crow.

These are only a few stories of how free market capitalism helped push people above the racism they often lived under. The legacies of Madam Walker, Philip Payton, and many other 20th Century black entrepreneurs live on to this day. With multi-millionaires and billionaires like Rihanna, Beyonce, Kanye West, Drake, Oprah Winfrey, Tyler Perry, Jay Z, Michael Jordan, it’s clear that capitalism is a socioeconomic force that empowers people to innovate to better themselves and their communities, as opposed to being the purveyor of modern racism and injustice, as Google would lead you to believe.

AUTHOR

Connor Vasile

Connor Vasile is a first-generation American and writer who wishes to raise awareness about classical liberal ideas which empower every individual, no matter their background or experience, to live their best lives and fulfill their goals.

EDITORS NOTE: This FEE column is republished with permission. ©All rights reserved.

FTX CEO Who Stole Billions in Crypto Ponzi Scheme Is DEMOCRATS’ Second Largest Donor After Soros

CEO of cratering crypto firm FTX is Dems second largest donor after Soros. The Democrats are the world’s largest criminal racket. At least a billion of customer funds have vanished from failed crypto firm FTX.

REVEALED: CEO OF CRATERING CRYPTO FIRM FTX IS DEMS’ SECOND LARGEST DONOR, BEHIND SOROS

Sam Bankman-Fried made donations to the Dems that totaled $39.8 million, putting him just behind George Soros and his $128 million in donations.

By: The Post Millenial,

According to Fortune, “30-year-old Bankman-Fried has been a major force in Democratic politics, ranking as the party’s second-biggest individual donor in the 2021–2022 election cycle.”

Bankman-Fried made donations to the Dems that totaled $39.8 million, putting him just behind George Soros and his $128 million in donations.

He had even promised to spend more money on Dems in the future, saying he could go “north of $100 million” with a “soft ceiling” of $1 billion for the 2024 elections.

Bankman-Fried was a significant donor to Biden in 2020. He’s the largest financial contributor to the Protect Our Future PAC, “the political action committee which endorsed Democratic candidates such as Peter Welch, who this week won his bid to become Vermont’s next senator, and Robert J. Menendez of New Jersey, who secured a House seat.”

As Bloomberg reports, Bankman-Fried had his net worth go from $15.6 billion to $1 billion in “the biggest one-day collapse it had ever seen among billionaires.”

It is expected that Bankman-Fried will go bankrupt in the face of a liquidity crunch and the abrupt change in financial status.

Reuters reports that FTX lost at least $1 billion of customer funds and that the money “vanished” casing federal regulators to look into the company. The investigation is to determine the extent of harm to clients and what laws FTX may have broken.

Jordan Schachtel tweeted, “Sam Bankman-Fried attempted to monopolize an entire industry and deploy it into the hands of the ruling class. His Ponzi blew up spectacularly after a successfully executed speculative attack. The demise of FTX should be a cause for celebration.”

Read more.

New York, Nov 11 (Reuters) – At least $1 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.

The exchange’s founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried’s trading company Alameda Research, the people told Reuters.

A large portion of that total has since disappeared, they said. One source put the missing amount at about $1.7 billion. The other said the gap was between $1 billion and $2 billion.

First, read this whole thread:

https://twitter.com/johncardillo/status/1591453724157042693?s=20&t=-wL-GOWPdI0myM4t6bKjYw

 

AUTHOR

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REVEALED: CEO of cratering crypto firm FTX is Dems’ second largest donor, behind Soros

EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

Musk’s New Blue Check System Costs Eli Lilly Billions After Fake ‘Free Insulin’ Tweet

Elon Musk’s new blue-check system for Twitter apparently cost at least one multinational corporation billions of dollars in value this week.

Eli Lilly, one of America’s foremost pharmaceutical brands, saw its stock price fall more than 2% Thursday after a fake tweet went viral earlier in the day promising “free insulin.” The account responsible for the fake tweet impersonated the official Eli Lilly account and had purchased a verification checkmark under Musk’s new “Twitter Blue” system.

The account, which used the username @EliLillyAndCo and the official Eli Lilly logo, tweeted Thursday afternoon, “We are excited to announce insulin is free now.” The tweet quickly gained hundreds of retweets and thousands of likes, precipitating the drop in stock value that cost the real company roughly $20 billion in market cap.

The blue check was removed from the account and its tweets were made private later Thursday, but the damage had been done. Eli Lilly issued a statement clarifying that insulin would not be free under its real twitter username, @LillyPad, and apologized for the misleading statement being disseminated.

Musk promised to begin charging $20 per month to users who were verified on Twitter after he purchased the platform last month, a plan that quickly evolved into charging $8 per month for “Twitter Blue,” which would give users the same blue check mark as those who are verified along with some other perks.

Within days of the service launching, misinformation began to run rampant across the platform as accounts impersonating celebrities and politicians now had blue checks to grant them a veneer of credibility. An account impersonating Lebron James requested a trade from the Los Angeles Lakers. Another pretending to be the Pittsburgh Steelers announced the death of starting quarterback Kenny Pickett. A fake George Bush and fake Tony Blair shared memories of “killing Iraqis.”

Twitter reportedly circulated an internal memo Friday claiming it is suspending the launch of Twitter Blue and actively discouraging people from signing up while it addresses “impersonation issues.”

AUTHOR

DYLAN HOUSMAN

Chief foreign affairs correspondent. Follow Dylan on Twitter

RELATED ARTICLR: Musk Tells Twitter Staff ‘Bankruptcy Isn’t Out Of The Question’ As Executives Jump Ship Over Privacy Concerns

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Prices Stay Sky-High In October As Inflation Continues To Run Hot

Inflation rose 0.4% on a monthly basis in October as the annual rate undercut expectations to come in at 7.7%, according to the Bureau of Labor Statistics (BLS).

Economists predicted that inflation would grow 0.6% on a monthly basis and 7.9% on an annual basis in October, according to a survey conducted by Bloomberg. Core inflation, which discounts the prices of food and energy due to their volatile nature, increased 0.3% on a monthly basis, but nudged down in October to 6.3% on an annual basis from September’s 40-year high of 6.6%, the BLS reported.

“A strong labor market and strong job growth supports strong demand, which allows inflationary pressures to stay elevated,” U.S. economist at T. Rowe Price, Blerina Uruci, told The Wall Street Journal. “You’ve got more demand chasing goods and services, the supply of which is being impaired at the moment for a number of reasons.”

Food prices were up 10.9% on an annual basis, continuing to moderate slightly from the 40-year highs set in August but still well above February’s 8.6%, which was a record at the time, and more than five times greater than the Federal Reserve’s target of 2% inflation for all items.

Investors took recent remarks from Jerome Powell as an indication that the Fed will likely stop raising interest rates at a higher level than previously anticipated, Yahoo Finance reported Sunday.

AUTHOR

JOHN HUGH DEMASTRI

Contributor.

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Kevin O’Leary on Inflation: You Printed $7 Trillion in 30 Months. What Did you Think Would Happen?

Americans are facing 40-year high inflation and there’s been no shortage of discussion on the topic. It’s the number one issue on the mind of Americans heading into midterms, and every day on TV and in newspapers pundits are debating how long it will last and deciding who is to blame.

What’s most astonishing amid the flurry of news is just how badly the commentary misses. While there is broad agreement that the US is experiencing dangerously high inflation, partisanship and ideology have polluted basic economics.

Progressive politicians like Robert Reich and Sen. Elizabeth Warren tweet incessantly that “corporate greed” is to blame, an idea even Democratic economists have summarily dismissed. President Joe Biden, meanwhile, has blamed Vladmir Putin. Republicans, on the other hand, have consistently made the case that Joe Biden is the inflation culprit.

All of these explanations are entirely or mostly wrong.

While it’s true that Putin and Biden deserve some blame—particularly in terms of high energy prices—there seems to be an unspoken bipartisan consensus to ignore the elephant in the room: the Federal Reserve’s unprecedented money printing.

One person not playing the game is Kevin O’Leary, the Canadian entrepreneur and investor who regularly appears on ABC’s Shark TankWhile speaking to journalist Daniela Cambone, O’Leary bluntly explained why Americans are experiencing the highest inflation in generations.

“The printing presses have gone insane,” O’Leary said. “That’s why we have inflation in the first place.”

By printing presses, O’Leary is talking about the Federal Reserve. The central bank has been expanding the supply of money for decades, and the clip has picked up in recent years. Nothing, however, has compared to the monetary expansion that occurred during the pandemic, something Fed Chairman Jerome Powell recently admitted in a 60 Minutes interview with Scott Pelley.

“You flooded the system with money,” the CBS journalist said.

“Yes, we did,” Powell responded.

This is what O’Leary is getting at. “Flooding the system with money” is what drove inflation to historic highs, and the result was always an obvious one.

“For all the talk of inflation, you print $6.72 trillion in thirty months, what the hell did you think was going to happen?” O’Leary says. “Of course there’s going to be inflation.”

O’Leary’s figures are not wrong. Federal Reserve data show that in August 2019 there was $14.9 trillion total in circulation. By January 2022, there was $21.6 trillion.

In other words, more than 30 percent of dollars in circulation in January 2022 had been created in the previous 30 months.

Money creation is the obvious driver of price inflation, a concept that most Americans have at least a vague understanding of because we see it all around us today. Prices are up for almost everything, and up a lot.

But are higher prices alone evidence of inflation? Prices are always changing, after all. Sometimes they go up and sometimes they fall; oftentimes it has nothing to do with money printing, but is simply a reflection of changes in supply and demand.

This is what makes inflation challenging to define, and in fact there are two definitions for it.

For centuries, inflation was defined essentially as an increase in the money supply. Basic economics holds that if you expand the money supply without expanding goods and services, prices will rise. So that was the definition of inflation: an increase in the supply of money.

Economists in the twentieth century added a second definition, however, calling inflation “a general and sustained increase in prices.” We can see from this definition that what separates inflation from simple price increases is that they are broad and sustained.

Some economists prefer the older definition of inflation, and Henry Hazlitt, author of Economics in One Lesson, can help us see why.

“Inflation is an increase in the quantity of money and credit. Its chief consequence is soaring prices,” Hazlitt explained. “Therefore inflation—if we misuse the term to mean the rising prices themselves—is caused solely by printing more money. For this the government’s monetary policies are entirely responsible.”

Hazlitt argues that rising prices are the consequence of inflation, which is an increase in the money supply. This is why some economists don’t like the new definition of inflation.

“I prefer the older definition,” Pace University economist Joseph Salerno explained in a lecture on hyperinflation. “I think it’s more useful.”

It’s not difficult to see why some economists see the traditional definition of inflation as superior. It gets right to the cause of price increases (an expansion of the money supply), while the new definition focuses on a symptom of inflation (“a general and sustained increase in prices”).

This second definition is far less clear, which might be precisely why some people like it.

Nobody wants to be blamed for inflation, after all, and under the first definition blame will always return to one spot: the people who control the money supply, and to a lesser extent the politicians, big banks, and bureaucrats who support the Fed and directly benefit from its largesse.

That’s a lot of pressure for central bankers and politicians. It’s far easier to say Vladmir Putin is primarily responsible for high prices, or the ”greedy corporations,” or Joe Biden’s Build Back Better policies.

Now, some will tell you that if you’re under 60 this is probably the first time you’ve experienced inflation, but this is not true. Usually inflation is just small enough that people don’t notice it as much.

For example, government data show a dollar printed in 1990 had already lost 50 percent of its purchasing power by 2021. This is why inflation is often called a “silent killer.”

Yet history shows inflation often does not remain silent. It persists and grows, and over time it becomes a destroyer of civilizations.

“I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments,” the Nobel Prize-winning economist F.A. Hayek once observed.

This is why Hayek believed the only way to have sound money was to take control of it out of the hands of central bankers and planners.

“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government,” Hayek said.

This is precisely why there has been such enthusiasm around decentralized currencies like Bitcoin and Ethereum.

Whether cryptocurrencies can supplant the dollar remains to be seen, but one thing is clear: the primary cause of inflation is not a boogeyman. It’s not a Russian dictator, corporate greed, or bad legislation. 1

The primary cause of inflation is the printing presses, exactly like Kevin O’Leary says.

A version of this article was published at The Epoch Times.

AUTHOR

Jon Miltimore

Jonathan Miltimore is the Managing Editor of FEE.org. His writing/reporting has been the subject of articles in TIME magazine, The Wall Street Journal, CNN, Forbes, Fox News, and the Star Tribune. Bylines: Newsweek, The Washington Times, MSN.com, The Washington Examiner, The Daily Caller, The Federalist, the Epoch Times.

RELATED ARTICLE: Inflation: Car insurance prices up 17% since 2020, says study

EDITORS NOTE: This FEE column is republished with permission. ©All rights reserved.

The States With the Best [and Worst] Business Tax Climate

Here’s the map showing how states rank. The best states are blue and the worst states are dark grey—VIEW MAP


Because I dedicated last week to European fiscal policy, I didn’t get a chance to write about the Tax Foundation’s latest version of the State Business Tax Climate Index, which was released October 25.

Last year, the top-4 states were Wyoming, South Dakota, Alaska, and Florida. This year’s report, authored by Janelle Fritts and Jared Walczak, says the top-4 states are… (drum roll, please) …exactly the same.

Here’s the map showing how states rank.

The best states are blue and the worst states are dark grey.

Coincidentally, the bottom-4 states also stayed constant. New Jersey is in last place, followed by New York, California, and Connecticut.

But there were some very interesting changes if you look at the other 42 states.

Thanks to pro-growth tax reforms, Arizona and Oklahoma both jumped 5 spots in the past year.

The state of Washington suffered a huge fall, dropping 13 spots thanks to the imposition of a capital gains tax (the state constitution supposedly bars any taxes on income – and voters last fall overwhelmingly voted against the capital gains tax – but it appears the state’s politicians and a negligent judiciary may combine to put the state on a very bad path).

It’s also interesting to look at long-run trends. If you compare this year’s Index with the original 2014 Index, you’ll find that three states have jumped by at least 10 spots and three states have dropped by at least 10 spots.

Oregon            -15       North Carolina   +21

Washington   -15       Kentucky             +17

Virginia          – 10      Tennessee            +10

Since I’m a Virginia resident, this is not encouraging news.

P.S. As I’ve noted before, the rankings for Alaska and Wyoming are somewhat misleading. Both states have lots of energy production and their state governments collect enormous amounts of taxes from that sector. This allows them to keep other taxes low while still financing bloated state budgets.

This International Liberty blog was republished with permission.

AUTHOR

Daniel J. Mitchell

Daniel J. Mitchell is a Washington-based economist who specializes in fiscal policy, particularly tax reform, international tax competition, and the economic burden of government spending. He also serves on the editorial board of the Cayman Financial Review.

EDITORS NOTE: This FEE column is republished with permission. ©All rights reserved.

The Ex-Nazi Corporation Behind the ‘Anti-Racism’ Industry is Buying Up Book Publishing

The German publisher behind Kendi, DiAngelo and Coates will control half the hardcover market.


Ibram X. Kendi’s “How to Be an Antiracist”, Robin DiAngelo’s “White Fragility”, and Ta-Nehisi Coates’s “Between the World and Me” all have one publisher in common.

Bertelsmann, the German giant, which formerly used to put out “The Christmas Book of the Hitler Youth”, has become the leading publisher and distributor of some of the most famous and influential racist woke books.

Americans are unaware of the role that the Ex-Nazi company plays in poisoning our discourse with racism and wokeness because it operates under the cover of the names of the American and English book publishers that it gobbled up.

Americans don’t see the Bertelsmann brand, instead they see Random House, whose current state would make Bennett Cerf turn in his grave, and Penguin Books, along with other familiar names like Doubleday, Ballantine, Knopf, Schocken, now tragically owned by an ex-Nazi company, Crown, Viking, Putnam, Bantam, Del Rey, Golden Books and so many others.

Bertelsmann has conquered and gutted American publishing’s crown jewels. The  book spines beloved to generations of readers are now just assets to a corporate office in Westphalia which uses them to distribute racist hate across America.

That includes promoting Ta-Nehisi Coates’s claim in “Between the World and Me” that the 9/11 firefighters and police officers were “menaces of nature” and “not human to me” to 9th graders and Robin DiAngelo’s racist “White Fragility” whose message, as CNN summed up, is that “if you’re a white person… you’re a racist.”

Not satisfied with pushing racism, Bertelsmann has also been involved in the  controversy over sexualizing children.

“Beyond Magenta”, which describes 8-year-olds having sex and contains the sentence, “from six and up, I used to kiss other guys in my neighborhood, make out with them, and perform oral sex on them”, has been protested by parents.

And it’s being promoted by Penguin Random House to teens and young adults.

Earlier this year, Markus Dohle, the German CEO appointed by Bertelsmann to head up Penguin Random House, declared war on parental rights advocates by setting up a $500,000 Dohle Book Defense Fund to “advocate against censorship, track and expose the egregious assaults on books and ideas playing out in classrooms, state legislatures and other arenas.”

But Bertelsmann isn’t done consuming and destroying American publishing and culture. It’s determined to take over Simon & Schuster. That would add notable names such as Scribner, Pocket Books, Baen, the Folger Shakespeare Library and Washington Square Press to its hoard.

Penguin Random House, (no. 1), and Simon & Schuster (no. 3), are two of the big five publishers who control 80% of the trade book market. Penguin Random House, under Bertelsmann, accounts for around 40% of hardcover sales and between a fifth to a quarter of paperback book sales.

No single book publisher comes close to that level of dominance.

With the addition of Simon & Schuster, the new Bertelsmann monster could command half of the hardcover book market making it bigger than all the other publishers combined.

What’s even worse is that of the ‘Big 5’ book publishers in the United States, Macmillan is already owned by Germany’s Holtzbrinck, and Hachette, which ate Time Warner’s book publishing arm including Little, Brown, is a French company.

That would, at best, leave HarperCollins, owned by News Corp, as the closest thing to an American publisher among the country’s dominant publishers.

Foreign companies would control 77% of the American hardcover book market and between 50% to 73% of our paperback market. In an environment where the big publishers only keep getting bigger, those numbers will get worse, not better.

And as we have already seen with Bertelsmann and Hachette, which shamefully published “In Defense of Looting”, foreign publishers have no problem exploiting and monetizing our social problems while tearing apart our country.

The damage that Bertelsmann and Hachette have already done to our society and our children is a warning against allowing foreign companies to control the lifeblood of our culture. Aside from being a blatant antitrust violation, the Bertelsmann seizure of Simon & Schuster is a national security threat.

In an initial first step, the takeover was blocked by a federal judge.

The ruling came after an extended trial whose evidence included an “internal company document” proposing the purchase of Simon & Schuster which described the big five as an “oligopoly”. That was quite an admission.

While the ruling is a rare victory for antitrust, Bertelsmann is moving to appeal.

Even if the ex-Nazi publisher fails in its bid to totally dominate publishing, it’s still causing immeasurable damage due to its current dominance. And it may be time for a future White House and Congress to revisit the question of whether foreign companies dominating our cultural industries is good or bad for America.

As a sample, consider some of the books that Penguin Random House is currently promoting, including “Democracy in Black”, which claims that America’s “democratic principles do not exist in a space apart from [its] national commitment to white supremacy.”  Alongside it are “Forty Million Dollar Slaves” about black atheletes, and Ibram X. Kendi’s “How to Be an Antiracist”.

Getting Bertelsmann’s claws out of our culture won’t immediately fix wokeness, but it will create more actual diversity in the publishing market and scale back some of the poison that is being poured into our veins by its million dollar racists.

Bertelsmann claims that it wants to help Americans. That’s as trustworthy as the lies that it used to spread falsely claiming that it resisted the Nazis and that the regime had shut it down when in actuality it was in bed with the Nazis.

Under Hitler, Heinrich Mohn, the head of the family business, was a member of the SS Sponsors Circle, and Bertelsmann became the largest supplier of books to the German Army. (The company is now headed by his grandson, Christoph Mohn.) Printers churning out its books used Jewish slave labor from the ghetto.

After the war, the Mohns lied and claimed that the company had been persecuted by the Nazis to convince the Allies to allow them to stay in business.

Even in 1998, one of its executives claimed that “the Carl Bertelsmann publishing house, was one of the few non-Jewish media companies closed down by the Nazi regime” because they “had been publishing books that were banned by the Third Reich as subversive. Bertelsmann’s continuing existence was a threat to the Nazi attempt to control freedom of expression.”

What they were actually publishing was “The Christmas Book of the Hitler Youth”.

In 1984, Bertelsmann brought in a former Nazi propagandist who had been churning out Hitler poems during the war and published a book which claimed that WWII had been caused by America, not Germany, and that Jews “controlled most of the media”, to write its official fake history of resistance to the Nazis.

It was a son of Holocaust survivors who exposed the lie and showed that the Nazi publisher was actually churning out horrors like “Sterilization and Euthanasia — a Contribution to Applied Christian Ethics” and “With Bombs and Machine Guns Over Poland”. Bertelsmann reacted by warning a public broadcaster to stop the “sinister and dangerous” reporting on the story.

The expose came as the ADL was about to honor the Bertelsmann Foundation.

It included the revelation that Nazi propogandist Joseph Goebbels had intervened to aid Bertelsmann employees.

But Bertelsmann needn’t have bothered lying and covering up its past. As Goebbels might have predicted, no one cared.

And now, as Bertelsmann is on the verge of dominating American book publishing even while pumping out more racist books, no one still cares.

Having failed to learn from history, we are repeating it.

AUTHOR

EDITORS NOTE: This Jihad Watch column is republished with permission. ©All rights reserved.