Expert Warns Quarantine Process Failed, As China Stands Ready To Crash World Economy

20 02 2020

  By Timothy D. Naegele[1]

This is the title of an article that Jared Harris has written for The Western Journal:

China’s rush to reopen factories and markets in the midst of a poorly understood outbreak may backfire, a failure that could result in one of the worst depressions the world has ever seen.

It’s no secret that the COVID-19 virus has dealt a punishing blow to the Chinese economy since its emergence months ago. With over 700 million now under some form of lockdown to control the coronavirus, work has ground to a halt.

Seeing a slowdown of new cases has prompted the ruling communist party to urge work to resume, with the party’s Global Times mouthpiece proclaiming “we must be resolute in resuming economic activity.”

Considering how little is known about the novel coronavirus, pushing workers to return to factories, markets and sales floors en masse does not look like a good decision.

Fortunately for virologists, a closed system with the virus exists on board the Diamond Princess cruise ship. Unfortunately for the people on the massive boat, their role as a large-scale petri dish shows just how contagious this bug really is.

Despite officials’ best efforts to contain the virus on the ship, the initially small number of infected soon soared to 454.

“The quarantine process failed,” National Institute of Allergy and Infectious Diseases director Dr. Anthony Fauci told USA Today.

“I’d like to sugarcoat it and try to be diplomatic about it, but it failed. People were getting infected on that ship.”

It’s unclear why the quarantine failed and transmission occurred, but it may be because the virus is more easily spread through the air than previously thought. Although it’s not thought to be airborne, the CDC still recommends airborne procedures and protective gear.

If COVID-19 is able to spread through the air, the cruise ship’s ventilation system may be a major factor in the baffling infection rates.

Once that possibility is applied to China, where hundreds of millions are holed up in high-rise apartments designed according to loose Chinese standards, the potential of this disaster becomes clear.

Although the Chinese government claims to have a handle on the epidemic, changes in the diagnosis criteria have seen confirmed cases spike by over 14,000 in a single day. Skeptics also remain unconvinced that the country’s communist regime is being honest.

The predicament of the Chinese worker is apparent: The government appears close to giving the all-clear for many. Those voicing skepticism on Chinese social media are swiftly silenced. China’s social credit system likely also puts pressure on citizens to return to work.

While those with symptoms may stay home, the virus can hitch a ride on clothing and other materials. There is even evidence that infected individuals may be able to spread COVID-19 without showing symptoms.

China, the world’s second-largest economy, would be absolutely devastated if this virus made a strong resurgence. The impact on other countries would be downright horrifying.

China’s exports would grind to a halt, depriving the United States of $480 billion worth of goods. Take a look at some of the things around you right now. Many of these items (including the phone or computer you’re reading this on) likely originated in a Chinese factory.

The effect on American retailers would be disastrous. Walmart, for example, imports an estimated 80 percent of its products from Chinese suppliers, according to the Alliance for American Manufacturing.

Japan, Germany and the United Kingdom, three of the largest economies in the world, also rely on Chinese exports worth billions.

Needless to say, all of these exports grinding to a halt virtually overnight would not be pleasant for the world economy. Even the U.S. economy, at an all-time high thanks to President Donald Trump, would not escape without a major beating.

If the quarantines in China are failing just as they are on the Diamond Princess, we could be headed for the biggest economic gut punch since the Great Depression.[2]

Talk about Helter Skelter, if this materializes like the article suggests, the economic effects globally will be nothing short of catastrophic.[3]  

Chinese woman wears plastic wrap

  © 2020, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and https://naegeleblog.files.wordpress.com/2019/11/timothy-d.-naegele-resume-20-1-1.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See https://www.wnd.com/2020/02/expert-warns-quarantine-process-failed-china-stands-ready-crash-world-economy/ (emphasis in original); see also https://naegeleblog.wordpress.com/2011/01/13/china-is-americas-enemy-make-no-mistake-about-that/#comment-23012 (“Deadly Coronavirus Proves Immune To Political Correctness”)

[3]  See, e.g., https://naegeleblog.wordpress.com/2015/07/01/global-chaos-and-helter-skelter/ (“Global Chaos And Helter Skelter”) and https://naegeleblog.wordpress.com/2010/01/19/emp-attack-only-30-million-americans-survive/ (“EMP Attack: Only 30 Million Americans Survive”)

 





Payback, Bigtime!

6 02 2020

  By Timothy D. Naegele[1]

Where does the list begin?  With Utah’s carpetbagger from Massachusetts, Mitt Romney; the warmongering shill of a foreign country, John Bolton; the rabid partisan Nancy Pelosi; the always-despicable “Tweedledee and Tweedledum” of American politics, Adam Schiff and Jerry Nadler, who are the heirs of Joe McCarthy; . . . and of course with the un-American racist and anti-Semite Barack Obama, who must spend the rest of his life in prison for treason, at the very least—or no American should believe in the rule of law anymore.[2] 

The impeachment of our great President Donald Trump has ended, for now.  He was acquitted yesterday, but Pelosi made it crystal clear that his impeachment “will last forever,” and that it will go on and on until he leaves the presidency.[3]  And she must be taken at her word.   After all, she tore up the President’s State of the Union speech in front of the nation, right after he delivered it.  A more brazen and classless act—and moment—in American history escapes this writer.

The Congressional Democrats are ruthless trailer trash.  After all, the American criminal Robert Mueller came after Trump with a pack of totally-partisan prosecutors bent on destroying this presidency, and they came up with nothing.  A big fat Z-E-R-O.  If they had anything at all, after spending more than $14 million, surely they would have used it.  Then, along came Pelosi, Schiff and Nadler, who produced nothing too.  Instead of investigating the actual criminality of the Clintons, Obama, Joe Biden and his son Hunter, and so many others, they targeted Trump like Richard Nixon and Ronald Reagan had been targeted previously.

Clearly, the Democratic Party and America’s far-Left must be decimated, never to rise again.[4]  And yes, lots of us began as Democrats, but will never vote for one in the future.  Again, the Democrats’ attempted coup has been in the works for at least three years.  It has been and continues to be the goal of the thoroughly-evil Democrats to reverse the election results of 2016.  This is treason, punishable by death.[5]  Nancy Pelosi was correct and refreshingly candid when she admitted that impeachment in one form or another will never stop.  This tells us all that we need to know . . . and where to go from here.

  © 2020, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and https://naegeleblog.files.wordpress.com/2019/11/timothy-d.-naegele-resume-20-1-1.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See https://naegeleblog.wordpress.com/2019/11/15/when-will-barack-obamas-trial-for-sedition-begin/ (“When Will Barack Obama’s Trial For Sedition Begin?”) and https://naegeleblog.wordpress.com/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”) and https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) and https://naegeleblog.wordpress.com/2017/10/20/the-real-russian-conspiracy-barack-obama-the-clintons-and-the-sale-of-americas-uranium-to-russias-killer-putin/ (“The Real Russian Conspiracy: Barack Obama, The Clintons, And The Sale Of America’s Uranium To Russia’s Killer Putin”) and https://naegeleblog.wordpress.com/2019/07/29/barack-obama-is-responsible-for-americas-tragic-racial-divide/ (“Barack Obama Is Responsible For America’s Tragic Racial Divide”)

[3]  See https://naegeleblog.wordpress.com/2020/01/28/aborting-a-trump-presidency-has-always-been-the-despicable-democrats-goal/ (“Aborting A Trump Presidency Has Always Been The Despicable Democrats’ Goal”) and https://naegeleblog.wordpress.com/2020/01/17/an-impeachment-that-will-last-forever-requires-the-targeting-of-every-congressional-democrat-forever/ (“An Impeachment That Will Last Forever Requires The Targeting Of Every Congressional Democrat Forever”); see also https://buchanan.org/blog/impeachment-the-lefts-ultimate-weapon-138085 and https://www.dailymail.co.uk/news/article-7935221/Donald-Trumps-lawyers-start-day-defense-Boltons-bombshell.html (“Ken Starr says impeachment is HELL in extraordinary Senate address as he argues against Donald Trump being removed despite calling for that punishment of Bill Clinton”) and https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/ (“America’s Newest Civil War: 2017 And Beyond”) and https://naegeleblog.wordpress.com/2019/04/29/the-democrats-are-evil-but-smart-while-the-republicans-are-neanderthals-and-dumb/ (“The Democrats Are Evil But Smart, While The Republicans Are Neanderthals And Dumb”) and https://naegeleblog.wordpress.com/2019/09/30/impeachment-may-become-the-singular-obsession-in-washington-and-dominate-news-coverage/ (“Impeachment May Become The Singular Obsession In Washington, And Dominate News Coverage”) and https://naegeleblog.wordpress.com/2019/10/09/this-is-war-abraham-lincoln-and-ronald-reagan-understood-this-and-donald-trump-does-too/ (“This Is War—Abraham Lincoln and Ronald Reagan Understood This, And Donald Trump Does Too”)

[4]  See https://naegeleblog.wordpress.com/2019/12/19/terminate-every-congressional-democrat-or-endure-a-permanent-impeachment-process/ (“Terminate Every Congressional Democrat, Or Endure A Permanent Impeachment Process”)

[5]  See https://naegeleblog.wordpress.com/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”)





Aborting A Trump Presidency Has Always Been The Despicable Democrats’ Goal

28 01 2020

  By Timothy D. Naegele[1]

This is the conclusion of Pat Buchanan—an adviser to Presidents Richard Nixon, Ronald Reagan and Gerald Ford, and a former GOP presidential aspirant himself.  Again, the Democratic Party and America’s far-Left must be decimated, never to rise again.  And yes, lots of us began as Democrats, but will never vote for one in the future.

Buchanan has written an article entitled “Impeachment: The Left’s Ultimate Weapon,” which states:

In 1868, President Andrew Johnson was impeached for violating the Tenure of Office Act that had been enacted by Congress over his veto in 1867. Defying the law, Johnson fired Secretary of War Edwin Stanton, without getting Senate approval, as the act required him to do.

In his 1956 Pulitzer Prize-winning book, John F. Kennedy made Edmund Ross one of the Senate’s “Profiles in Courage” for his decisive and heroic vote not to convict and remove Johnson.

Repealed in 1887, the Tenure of Office Act was later declared unconstitutional by the Supreme Court.

But while the act was the lethal instrument to be used in the political assassination of a president whom the Radical Republicans meant to terminate, Stanton’s ouster was not the primary cause of their fury.

What truly enraged the Radical Republicans was Johnson’s resolve to be more magnanimous toward the defeated South than they meant to be. Johnson had in mind an earlier end to the military occupation of the South and a more rapid return of the seceded states to the Union.

The story is told in the 1942 Hollywood film “Tennessee Johnson,” starring Van Heflin, which has since gone down the memory hole along with Woodrow Wilson’s White House favorite, “Birth of a Nation.”

As historians concede, the impeachment of Johnson was about Reconstruction and who would remake the South. Would it be the Southern majority that fought and lost the war, or the victorious Yankees and the “scalawags” and “carpetbaggers” laboring alongside them?

The triumphant Radical Republicans were not about conciliation. So severe were aspects of the occupation that Gen. Robert E. Lee reportedly said if he had known what was coming, he might not have quit fighting.

So, too, the impeachment of Donald Trump is not really about his 10-week delay in shipping arms to Ukraine or his postponing of a visit by Ukraine’s president until he announced an investigation of Burisma Holdings and Joe and Hunter Biden.

Even before the 2016 election, Democrats, collaborating with a like-minded media, were using the instruments of power they possess, to first prevent and then to overturn the election results of 2016.

Russiagate, the James Comey FBI investigation, the Mueller probe — aborting a Trump presidency has always been the goal.

Saturday, White House counsel Pat Cipollone succinctly described to the Senate the bottom line:

“They’re asking you to remove President Trump from the ballot in an election that’s occurring in approximately nine months. … They’re asking you to tear up all of the ballots across this country on your own initiative, take that decision away from the American people.”

To save “our democracy,” to which they pay tireless tribute, the impeachers want to ensure that the people, in a supposedly free election in 2020, are not allowed to make the same mistake they made in 2016.

To save our democracy, the House and half the Senate want to deny the America electorate one of the most important roles the people play in this republic — the exercise of their right to choose the head of state and commander in chief of the United States.

Disqualifying presidential candidates whom populists favor but elites abhor is a quite common practice — in Third World countries.

Over the weekend, we learned that John Bolton, who has offered to testify in the Senate trial, claims in his coming book that Trump made a direct link between sending military aid to Ukraine and Ukraine’s opening an investigation of the Bidens.

This has caused some Republican senators to reconsider calling witnesses, particularly Bolton, in the impeachment trial.

If four Republicans vote for witnesses, they will be doing the work Adam Schiff, Jerry Nadler and Nancy Pelosi’s House failed to do in their haste to get Trump impeached by Christmas. They will be prolonging a trial set up to burn and bury their president.

The Senate should let Trump’s defenders complete their case, as the House managers and impeachers have already done. Then allow 16 hours of questioning. Then call for the verdict.

There is no treason, no bribery and no high crime in what the House managers allege. There is nothing in the articles of impeachment voted that rises to a level to justify removing a president.

Harry Truman dropped atomic bombs on defenseless cities and sent 2 million POWs back to the tender mercies of Stalin in Operation Keelhaul after World War II.

JFK greenlighted the overthrow of an ally, President Ngo Dinh Diem in South Vietnam, in a coup that ended in the murder of Diem.

LBJ ordered the wiretapping of Martin Luther King, and his White House shared the fruits of that FBI surveillance with a friendly press.

No one was impeached.

Why? Because Truman, JFK and LBJ were establishment favorites.

For Trump, a phone call with a Ukrainian president saying, “Send us your Biden file and we will have a meeting,” is a political capital crime justifying democracy’s version of a death penalty.[2]

Again, this coup has been in the works for at least three years.[3]

It is the goal of the thoroughly-evil Democrats to reverse the election results of 2016.  This is treason, punishable by death.  Indeed, as stated previously:

The un-American racist and anti-Semite Barack Obama and his fellow co-conspirators sought to destroy the candidacy and then the presidency of Donald Trump from Day One, and they continue to do so.  In the history of our great nation, it is doubtful that there have been any acts that rose to this level of sedition and treason except during our Civil War, when many or most of the traitors paid with their lives.  The same thing must happen now, beginning with Barack Obama.  Nothing less will suffice.[4]

House Speaker Nancy Pelosi was correct and refreshingly candid when she admitted that impeachment in one form or another will never stop.[5]

The bottom line is that it is a colossal waste of time and effort. The un-American racist and anti-Semite Barack Obama must be imprisoned, not Impeached, for the rest of his life, at the very least.  He and his fellow co-conspirators tried to destroy the candidacy and then the presidency of Donald Trump, which is treason. And it continues to this day in the form of the bogus impeachment efforts.[6]

Until Barack Obama and his co-conspirators are bought to justice, no American should believe in the rule of law, or that justice exists. We live in a lawless America today.

  © 2020, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and https://naegeleblog.files.wordpress.com/2019/11/timothy-d.-naegele-resume-20-1-1.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See https://buchanan.org/blog/impeachment-the-lefts-ultimate-weapon-138085; see also https://www.dailymail.co.uk/news/article-7935221/Donald-Trumps-lawyers-start-day-defense-Boltons-bombshell.html (“Ken Starr says impeachment is HELL in extraordinary Senate address as he argues against Donald Trump being removed despite calling for that punishment of Bill Clinton”)

[3]  See https://naegeleblog.wordpress.com/2020/01/17/an-impeachment-that-will-last-forever-requires-the-targeting-of-every-congressional-democrat-forever/ (“An Impeachment That Will Last Forever Requires The Targeting Of Every Congressional Democrat Forever”)

[4]  See supra n.3; see also https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) and https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/ (“America’s Newest Civil War: 2017 And Beyond”) and https://naegeleblog.wordpress.com/2017/10/20/the-real-russian-conspiracy-barack-obama-the-clintons-and-the-sale-of-americas-uranium-to-russias-killer-putin/ (“The Real Russian Conspiracy: Barack Obama, The Clintons, And The Sale Of America’s Uranium To Russia’s Killer Putin”) and https://naegeleblog.wordpress.com/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”) and https://naegeleblog.wordpress.com/2019/04/29/the-democrats-are-evil-but-smart-while-the-republicans-are-neanderthals-and-dumb/ (“The Democrats Are Evil But Smart, While The Republicans Are Neanderthals And Dumb”) and https://naegeleblog.wordpress.com/2019/07/29/barack-obama-is-responsible-for-americas-tragic-racial-divide/ (“Barack Obama Is Responsible For America’s Tragic Racial Divide”) and https://naegeleblog.wordpress.com/2019/09/30/impeachment-may-become-the-singular-obsession-in-washington-and-dominate-news-coverage/ (“Impeachment May Become The Singular Obsession In Washington, And Dominate News Coverage”) and https://naegeleblog.wordpress.com/2019/10/09/this-is-war-abraham-lincoln-and-ronald-reagan-understood-this-and-donald-trump-does-too/ (“This Is War—Abraham Lincoln and Ronald Reagan Understood This, And Donald Trump Does Too”) and https://naegeleblog.wordpress.com/2019/11/15/when-will-barack-obamas-trial-for-sedition-begin/ (“When Will Barack Obama’s Trial For Sedition Begin?”) and https://naegeleblog.wordpress.com/2019/12/19/terminate-every-congressional-democrat-or-endure-a-permanent-impeachment-process/ (“Terminate Every Congressional Democrat, Or Endure A Permanent Impeachment Process”)

[5]  See supra n.3.

[6]  See https://naegeleblog.wordpress.com/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”)





An Impeachment That Will Last Forever Requires The Targeting Of Every Congressional Democrat Forever

17 01 2020

  By Timothy D. Naegele[1]

The Democratic Party and America’s far-Left must be decimated, never to rise again.  And yes, lots of us began as Democrats, but will never vote for one again.

Jennie Taer has written at saraacarter.com:

House Speaker Nancy Pelosi is moving forward with the articles of impeachment against President Donald Trump[,] announcing Wednesday the House managers who will transmit the articles to the Senate in what she called “an impeachment that will last forever.”

House Intelligence Committee Chairman Adam Schiff (D-CA), House Judiciary Chairman Jerrold Nadler (D-NY), House Administration Committee Chairwoman Zoe Lofgren (D-CA), House Democratic Caucus Chairman Hakeem Jeffries (D-NY), Rep. Val Demings (D-FL), Jason Crow (D-CO), Rep. Sylvia Garcia (D-TX) will assume the managerial roles.

“The emphasis is on litigators, the emphasis is on comfort level in the court room, the emphasis is on making the strongest possible case to protect and defend our constitution, to seek the truth for the American people,” Pelosi said.

“I’m very proud and honored that these seven members, distinguished members, have accepted this serious responsibility, again, to protect and defend for the people defending our Democracy.

The House is also set to hold a vote later Wednesday on finalizing the transmission of the articles to the Senate for a full trial.

In anticipation of Pelosi’s move today, Senate Majority Leader Mitch McConnell told reporters Tuesday that the trial will likely begin next Tuesday in the Senate.

“The House is likely to finally send the articles over to us tomorrow and we’ll be able to . . . in all likelihood go through some preliminary steps here this week which could well include the chief justice coming over and swearing in members of the Senate and some other kind of housekeeping measures,” Sen. McConnell said.

“We hope to be able to achieve that by consent which would set us up to begin the actual trial next Tuesday.”[2]

This coup has been in the works for at least three years.[3]

Every one of the House managers must wear a target on his or her back.  It must be “open season” with respect to each of them, as well as all Democrats in the Congress who are pursuing the farce of President Donald Trump’s impeachment.  After all, he was cleared by former FBI Director Robert Mueller and his staff of zealous, Leftist, senior prosecutors.  However, it is the goal of the thoroughly-evil Democrats now to reverse the election results of 2016.  This is treason, punishable by death.

Indeed, the un-American racist and anti-Semite Barack Obama and his fellow co-conspirators sought to destroy the candidacy and then the presidency of Donald Trump from Day One, and they continue to do so.  In the history of our great nation, it is doubtful that there have been any acts that rose to this level of sedition and treason except during our Civil War, when many or most of the traitors paid with their lives.  The same thing must happen now, beginning with Barack Obama.[4]  Nothing less will suffice.

  © 2020, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and https://naegeleblog.files.wordpress.com/2019/11/timothy-d.-naegele-resume-20-1-1.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See https://saraacarter.com/an-impeachment-that-will-last-forever-pelosi-announces-impeachment-managers/ (“‘An Impeachment That Will Last Forever’: Pelosi Announces Impeachment Managers”); see also https://www.dailymail.co.uk/news/article-7895585/Donald-Trumps-trial-begins-Articles-impeachment-read-Senate.html (“Donald Trump’s trial begins: Senate hears impeachment articles”) and https://buchanan.org/blog/a-malicious-indictment-mitch-should-toss-out-138043 (“A Malicious Indictment Mitch Should Toss Out”—“The impeachment of Donald Trump is the fruit of a malicious prosecution whose roots go back to the 2016 election, in the aftermath of which stunned liberals and Democrats began to plot the removal of the new president. This coup has been in the works for three years. . . . [T]he articles of impeachment on which the Judiciary Committee and the House voted do not contain a single crime required by the Constitution for impeachment and removal. There is no charge of treason, no charge of bribery or ‘other high crimes and misdemeanors.’ . . . [T]here is no debate on how the Senate Democrats intend to vote — 100% for removal of a president they fear they may not be able to defeat. . . . [T]he forum to be entrusted with the decision of ‘should Trump go?’ is not a deeply polarized Senate, but with those the Founding Fathers entrusted with such decisions — the American people. . . . Mitch McConnell should let the House managers make their case, and then call for a vote to dismiss, and treat this indictment with the contempt it so richly deserves”) and https://www.newsmax.com/politics/lindsey-graham-senate-trial/2020/01/16/id/950054/ (“Lindsey Graham Predicts ‘Bipartisan Acquittal’ in Impeachment Trial”)

[3]  See supra n.2.

[4]  See, e.g., https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) and https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/ (“America’s Newest Civil War: 2017 And Beyond”) and https://naegeleblog.wordpress.com/2017/10/20/the-real-russian-conspiracy-barack-obama-the-clintons-and-the-sale-of-americas-uranium-to-russias-killer-putin/ (“The Real Russian Conspiracy: Barack Obama, The Clintons, And The Sale Of America’s Uranium To Russia’s Killer Putin”) and https://naegeleblog.wordpress.com/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”) and https://naegeleblog.wordpress.com/2019/04/29/the-democrats-are-evil-but-smart-while-the-republicans-are-neanderthals-and-dumb/ (“The Democrats Are Evil But Smart, While The Republicans Are Neanderthals And Dumb”) and https://naegeleblog.wordpress.com/2019/07/29/barack-obama-is-responsible-for-americas-tragic-racial-divide/ (“Barack Obama Is Responsible For America’s Tragic Racial Divide”) and https://naegeleblog.wordpress.com/2019/09/30/impeachment-may-become-the-singular-obsession-in-washington-and-dominate-news-coverage/ (“Impeachment May Become The Singular Obsession In Washington, And Dominate News Coverage”) and https://naegeleblog.wordpress.com/2019/10/09/this-is-war-abraham-lincoln-and-ronald-reagan-understood-this-and-donald-trump-does-too/ (“This Is War—Abraham Lincoln and Ronald Reagan Understood This, And Donald Trump Does Too”) and https://naegeleblog.wordpress.com/2019/11/15/when-will-barack-obamas-trial-for-sedition-begin/ (“When Will Barack Obama’s Trial For Sedition Begin?”) and https://naegeleblog.wordpress.com/2019/12/19/terminate-every-congressional-democrat-or-endure-a-permanent-impeachment-process/ (“Terminate Every Congressional Democrat, Or Endure A Permanent Impeachment Process”)





Are Banks Irrelevant?

2 01 2020

  By Timothy D. Naegele[1]

This is the title of my newest law review article[2], which discusses the future of banking in the United States and globally, looking decades into the future.

As stated in the article’s introduction:

[T]he author revisits briefly Wells Fargo’s problems that have tarnished America’s fourth largest and the world’s thirteenth largest bank, with almost $2 trillion in assets—and created what some have characterized as a rogue and lawless financial institution, the largest in the United States if not the world.  He asks whether Wells is an anachronism or dinosaur whose time has passed, along with that of its sister financial institutions.  As branches and checks disappear, and as a “branchless” and “checkless” financial system emerges, what role will traditional banks play in American and global commerce?  Also, what roles will so-called “shadow banks” and “non-banks” play in the future, and how will Congress and America’s financial institution regulators deal with these critical issues, or can they?  In the final analysis, will we live in a world of “bankless” banking?

What is coming will affect every American, and the residents of other countries globally.  Indeed, as I concluded in the article:

As America and other countries move into the “brave new world” of “bankless banking,” query whether every conceivable financial problem of the past may surface again and again: runs on banks and their financial alter egos; panics around the globe; regulators who are helpless to “put out the fires” spreading everywhere; and a global loss of confidence in the “system”?  . . .  [A]ll of this may be set in motion—or at least exacerbated—by events over which none of us have any control. Indeed, a review of past events in economic history is eye-opening and shocking for those who are naïve about what can happen in the future.

Stay tuned.  Indeed, a “brave new world” is coming, just as computers, the Internet and smartphones have changed everything that we do today.

 

 

© 2020, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and https://naegeleblog.files.wordpress.com/2019/11/timothy-d.-naegele-resume-20-1-1.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See Timothy D. Naegele, Are Banks Irrelevant? 137 BANKING L. J. 3 (January 2020) (Naegele January 2020) (Timothy D. Naegele) [NOTE: To download The Banking Law Journal article, please click on the link to the left of this note]





Does Each New Administration Kick The Debt Can Down The Road?

24 12 2019

  
  By Timothy D. Naegele[1]

That is the lesson I learned when I came to Washington, and began working at the Pentagon.  When the Congress was breathing down its neck, it simply reorganized—and hid the ball some more—and when the Congress was catching up again, it would repeat the process.

Pat Buchanan—an adviser to Presidents Richard Nixon, Ronald Reagan and Gerald Ford, and a former GOP presidential aspirant himself—has written an article entitled “Today France, Tomorrow the USA?”:

As that rail and subway strike continued to paralyze travel in Paris and across France into the third week, President Emmanuel Macron made a Christmas appeal to his dissatisfied countrymen:

“Strike action is justifiable and protected by the constitution, but I think there are moments in a nation’s life when it is good to observe a truce out of respect for families and family life.”

Macron’s appeal has gone largely unheeded.

“The public be damned!” seems to be the attitude of many of the workers who are tying up transit to protest Macron’s plan to reform a pension system that consumes 14% of GDP.

Macron wants to raise to 64 the age of eligibility for full retirement benefits. Not terribly high. And to set an example, he is surrendering his lifetime pension that is to begin when he becomes an ex-president.

Yet, it is worth looking more closely at France because she appears to be at a place where the rest of Europe and America are headed.

In France, the government collects 46% of the GDP in taxes and spends 56% of GDP, the highest figures in the Western world.

And Paris appears to be bumping up against the limits of what democratic voters will tolerate in higher taxes, or reductions in benefits, from the postwar welfare states the West has created.

A year ago, when Macron sought to raise fuel taxes to cut carbon emissions, the “yellow vests” came out in protests that degenerated into rioting, looting, arson, desecration of monuments and attacks on police.

Paris capitulated and canceled the tax.

How do we compare?

The U.S. national debt is now larger than the GDP. Only in 1946, the year after World War II, was U.S. debt a larger share of GDP than today.

In 2019, the U.S. ran a deficit just shy of $1 trillion, and the U.S. government projects trillion-dollar deficits through the decade, which begins next week. And we will be running these deficits not to stimulate an economy in recession, as President Obama did, but to pile them on top of an economy at full employment.

In short, we are beginning to run historic deficits in a time of prosperity. Whatever the economic theory behind this, it bears no resemblance to the limited government-balanced budget philosophy of the party of Ronald Reagan.

The questions the U.S. will inevitably face are the ones France faces: At what point does government consumption of the national wealth become too great a burden for the private sector to bear? At what point must cuts be made in government spending that will be seen by the people, as they are seen in France today, as intolerable?

While a Republican Congress ran surpluses in the 1990s, when defense spending fell following our Cold War victory, Dwight Eisenhower was the last Republican president to run surpluses.

Opposition to new or higher taxes appears to be the one piece of ground today on which Republicans will not yield. But if so, where are the cuts going to come from that will be virtually mandated if U.S. debt is not to grow beyond any sustainable level?

America’s long-term problem:

Deficits are projected to run regularly in the coming decade at nearly 5% of GDP while economic growth has fallen back to 2%.

With taxes off the table, where, when and how do we cut spending?

Or does each new administration kick the can down the road?

The five principal items in the federal budget are these:

Social Security, which consumes 25% of that budget. Yet, Social Security outlays will reach the point this year where payroll taxes no longer cover them. The “trust fund” will have to be raided. Translation: The feds will have to borrow money to cover the Social Security deficit.

Medicare, Medicaid, Obamacare and other health programs account for another fourth of the budget. All will need more money to stay solvent.

Defense, which used to take 9% of GDP in JFK’s time and 6% in Ronald Reagan’s buildup, is now down to 3.2% of GDP.

Yet, while defense’s share of GDP is among the smallest since before World War II, U.S. commitments are as great as they were during the Cold War. We are now defending 28 NATO nations, containing Russia, and maintaining strategic parity. We have commitments in Iraq, Syria, Afghanistan and the global war on terror. We defend South Korea and Japan from a nuclear-armed North Korea and China.

Yet another major item in the budget is interest on the debt.

And as that U.S. debt surges with all the new deficits this decade, and interest rates inevitably begin to rise, interest on the debt will rise both in real terms and as a share of the budget.

Again, is France the future of the West?[2] 

At what point do the chickens come home to roost?  Or do they?

 

 

© 2019, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and https://naegeleblog.files.wordpress.com/2019/11/timothy-d.-naegele-resume-20-1-1.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See https://buchanan.org/blog/today-france-tomorrow-the-usa-137917





Terminate Every Congressional Democrat, Or Endure A Permanent Impeachment Process

19 12 2019

  
  By Timothy D. Naegele[1]

And yes, lots of us began as Democrats but will never vote for one again.

In an article entitled “The Democrats’ Alternative Universe Impeachment,” the former Speaker of the United States House of Representatives Newt Gingrich has written:

Watching recent developments in the House Democratic Party, it is clear that the effort to impeach President Trump has nothing to do with facts or a normal process of investigation and evidence-based prosecution.

We are living through a process defined by a pro-Trump universe and an anti-Trump universe. The great economy, record-low unemployment, the conservative judges, the achievements in renewing the Space program, and a host of other positive things are occurring in the pro-Trump universe.

However, the willful avoidance of facts and evidence by left-wing media and left-wing Democrats is a sign that there is an alternative anti-Trump universe.

The report by Justice Department Inspector General Michael Horowitz was devastating in its indictment of senior FBI officials – and even more in its repudiation of the lies being told by Democrat House Intelligence Committee Chairman Adam Schiff, who is the public face of the impeachment effort. Again and again, Horowitz vindicated the former chairman, Republican Rep. Devin Nunes, and rejected Schiff’s assertions.

On Sunday, Chris Wallace made vividly clear with both former FBI Director James Comey and Chairman Schiff that they simply were not telling the truth. Every American should watch the Wallace interview.

Further, Schiff is not the only Democratic congressman with a big credibility gap. As Paul Sperry reported for RealClearInvestigations, House Judiciary Chairman Jerry Nadler has some real explaining to do.

Sperry wrote that in February 2018, Nadler circulated a ‘Dear Democratic Colleague’ letter – later leaked to the press – that trashed a House Intelligence Committee report detailing FBI spying abuses involving former Trump campaign staffer Carter Page.

But Horowitz last week found the FBI did in fact abuse its authority.

Sperry also notes that “Nadler also insisted in his four-page letter … that a discredited Clinton campaign-funded [Christopher Steele] dossier did not play a substantial role in supporting warrants to spy on Page.”

Inspector General Horowitz found the opposite.

In his letter, Nadler implied that Nunes, was lying about what he had read in classified documents.

But the Horowitz report concurred with Nunes’s findings. In fact, one Republican committee staffer told Sperry that Nadler “has no credibility left.”

The failure of the secret Schiff kangaroo court hearings, combined with the growing repudiation by official inquiries, has convinced many Americans that the whole impeachment process is simply a scheme by Democrats, partisans, and fake news media members who hate President Trump.

In fact, the Horowitz report and other investigations make increasingly clear that The Washington Post, and The New York Times should return the Pulitzers their reporters received for the fake news they were being fed by the deep state opponents of President Trump.

As Lee Smith makes clear in his book The Plot Against the President, the systemic dishonesty of the deep state-fake media-Democratic Party system is deeper and more dishonest than anyone could have imagined a decade ago.

The Democrats’ problems aren’t just with their chairmen. Consider this new report by Chrissy Clark [] in The Federalist:

“Robert Powell, the husband of Rep. Debbie Mucarsel-Powell, D-Fla., reportedly took $700,000 from a Ukrainian oligarch named Igor Kolomoisky. Mucarsel-Powell sits on the House Judiciary Committee, the committee that drafted two articles of impeachment against President Donald Trump for his alleged abuse of power with regards to Ukraine.”

Of course, in the Democrats’ alternative universe, having Hunter Biden accept millions from a Ukrainian company, or a Judiciary Committee member’s husband accepting $700,000 in Ukrainian oligarch funding, or an FBI senior manager’s wife getting nearly $700,000 in campaign funds from Clinton-aligned Democrats are simply business as usual. In the Democrats’ left-wing world, all bad things are Republican and conservative and no wrongdoing can be alleged against the deep state-fake news-Democrat alliance against President Trump.

The growing understanding of how sick the system is has turned more and more Americans against the Democratic Party’s impeachment campaign. In a remarkable turn of events people actually believe the process may strengthen President Trump. This is literally making fake news analysts’ heads hurt.

Steve Krakauer in the Fourth Watch media newsletter wrote that a recent CNN poll found that only 25 percent Americans think the impeachment circus will hurt President Trump’s re-election campaign. Meanwhile 37 percent think it will have no effect and 32 percent believe it will help him get re-elected.

According to Krakauer: “When David Chalian reported this to Anderson Cooper tonight on AC360, Cooper was stunned. ‘This poll hurts my head,’ said Cooper. ‘I mean, David, do you believe these polls?’

With the current impeachment process having lost ground with the American people – and with the Republican Senate certain to sustain the President and reject the dishonest hypocrisy of the House Democrats – what can we expect in this world of an alternative, anti-Trump universe?

The answer is apparently a permanent impeachment process – no matter what the American people want or what the evidence or lack of evidence indicates.

Consider this report from Politico:

“In a filing to the D.C. Circuit Court of Appeals, House General Counsel Douglas Letter argued that the House’s demands for grand jury materials connected to former special counsel Robert Mueller’s investigation were still urgent because such evidence might become relevant to the Senate’s expected impeachment trial next month.

“But Letter went further to note that even apart from the Senate trial, the House Judiciary Committee intends to continue its impeachment investigation arising from the Mueller probe on its own merit.

“‘The committee has continued and will continue [its impeachment] investigations consistent with its own prior statements respecting their importance and purposes,’ Letter wrote in a filing Monday as part of the House’s bid to obtain Mueller’s grand jury evidence.”

In other words, the Democrats are already laying the ground for yet another impeachment effort once this one fails.

The 2020 campaign is going to be a tale of two vividly different universes.

Which one the American people decide is better for themselves and their country will do a great deal to define the next century of American progress – or decay.[2] 

Again, Congressional Democrats must not only be defeated but crushed, in elections across this great nation.  The despicable Adam Schiff and Jerry Nadler must become the Joe McCarthys of this era: pariahs who are ridiculed and driven to shame and obscurity.

Next, Americans must turn their attention to imprisoning the racist anti-Semite Barack Obama and his fellow treasonous co-conspirators for the rest of their lives, at the very least.[3]  

Nothing less will suffice!

democrats-are-losers

 

© 2019, Timothy D. Naegele


[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and https://naegeleblog.files.wordpress.com/2019/11/timothy-d.-naegele-resume-20-1-1.pdf). He has an undergraduate degree in economics from the University of California, Los Angeles (UCLA), as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal (see, e.g., https://en.wikipedia.org/wiki/Commendation_Medal#Joint_Service). Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com

[2]  See https://www.gingrich360.com/2019/12/the-democrats-alternative-universe-impeachment/; see also https://en.wikipedia.org/wiki/Newt_Gingrich (“Newt Gingrich”)

[3]  See, e.g., https://naegeleblog.wordpress.com/2019/11/15/when-will-barack-obamas-trial-for-sedition-begin/ (“When Will Barack Obama’s Trial For Sedition Begin?”) and https://naegeleblog.wordpress.com/2019/07/29/barack-obama-is-responsible-for-americas-tragic-racial-divide/ (“Barack Obama Is Responsible For America’s Tragic Racial Divide”) and https://naegeleblog.wordpress.com/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”) and https://naegeleblog.wordpress.com/2017/10/20/the-real-russian-conspiracy-barack-obama-the-clintons-and-the-sale-of-americas-uranium-to-russias-killer-putin/ (“The Real Russian Conspiracy: Barack Obama, The Clintons, And The Sale Of America’s Uranium To Russia’s Killer Putin”) and https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”)








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