America’s Left Is Vile And Evil

24 08 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 “New Anti-Trump Ploy Is Conjuring A Recession,” Conrad Black—the Canadian-born, British former newspaper publisher, author and life peer—has written in The New York Sun:

The latest ploy of the anti-Trump press phalanx, and their weekly echo chamber of assorted Democratic candidates and legislators, is to try to move the voter-approval needle by insisting an economic recession is about to occur. The problem is, it isn’t.

As weeks pass without a recession or even increasing objective statistical hints of a recession, the continued trumpeting of a recession becomes self-stifling. Not even the economically illiterate mouthpieces of CNN and MSNBC can keep a straight face for long predicting recession when there are no signs it is happening.

It is possible to convince those who want to be convinced that something happening completely in the dark, such as trade negotiations with China, is going badly. (They aren’t.) But it is impossible to maintain a levitation of economic alarm when confidence remains high, employers are hiring rather than laying off workers, and economic growth, unemployment, and inflation numbers remain positive.

Understandably, it has been difficult for both sides on the political see-saw as we approach the 2020 election year. President Trump’s enemies, clinging as they have been since the beginning to buoyant flotsam, are like people who have been cast into the sea and can’t swim.

The idea of a Trump presidency was so unthinkable there could not be a honeymoon because it could not be real; it could not have been a legitimate election. For more than two years we were waiting for the confirmation that Mr. Trump had worked with the Russian government to rig the election.

We now know that from the start the investigators knew that there had been no such collusion and almost two whole years were spent trying to provoke Mr. Trump into counter-attacking Special Counsel Robert Mueller’s operation so he could be accused of obstructing justice. Since the president cooperated with the inquiry even as he rightly denounced it as a hoax and a fraud, the best that could be done was an invitation to the House of Representatives to continue investigations so Democrats might keep the impeachment cloud over the president’s head.

Doubtless when legislators return from their summer recess, like two spavined old fire-horses, judiciary and intelligence committee chairmen Jerry Nadler and Adam Schiff will storm out of the gate again, issuing subpoenas which will be ignored by the administration, and relying on the same desperately inadequate choir of nasty press sorcerers (down to and including Watergate catacomb mythmakers Carl Bernstein and John Dean), to stoke it up one more time.

It won’t fly. No one believes any of it. Justice Department Inspector General Michael Horowitz will soon produce his report on many aspects of the spurious Trump-Russia investigation, and Senator [Lindsey] Graham and his judiciary committee will take it from there, shouldering Messrs. Nadler and Schiff out of the frame.

Inexorably, as special prosecutor John Durham’s indictments come down, the Democrats’ “insurance policy” against Mr. Trump (the Russian collusion canard as described by former FBI senior agent Peter Strzok) will become the Democrats’ suicide weapon.

Russia was hastily followed by racism, topped out with attempts to hold Mr. Trump in some way responsible for the tragic shootings in El Paso and Dayton. Since Mr. Trump isn’t a racist, and neither of the two shooters professed any Trump role in forming their psychopathic opinions, that wheeze has died in the summer heat. It is to be hoped that it doesn’t take down prudent bipartisan reforms of the gun regime with it.

The sudden and mysterious silence that has enshrouded the southern border, including the wailings of Representative Elijah Cummings, is the surest indicator that the fence is being built, Mexico is cooperating (as it receives more manufacturing investment from companies fleeing China over tariffs), and the detention and adjudication system with hundreds of new judges, is working.

The number of apprehensions of those attempting to enter illegally is declining and it is becoming difficult to represent crowded but adequately sanitary and well-stocked detention centers as the replications of Nazi death camps that House Speaker Nancy Pelosi and others were conjuring.

Now we are on to a recession. This claim contains no more substance than the chimeras that preceded it.

The straws in the wind that have been cited as the green shoots of economic calamity are far from dispositive, and carry much less weight than continuing solid performances in economic growth, inflation, absolute and per capita GDP growth, manufacturing jobs growth, shrinkage of minority unemployment, and purchasing power for working and lower middle class families. All of these numbers are coming in supportively for the administration.

The fact that the election approaches and the importance of the economy in electoral results is proverbial, and the serial evaporation of the false issues that have been pinned on Trump in his inexorable elephantine march through his first term, now combine to attempt the incitement of hysteria on this subject.

It is true that the deficit tops $1 trillion and that is not sustainable indefinitely, but that is 35% less than the Obama average (admittedly coming after a debacle bequeathed by George W. Bush); and the GDP is about 25% above the latter Obama years. So despite a large tax reduction and a strong defense build-up, the deficit as a percentage of GDP has shrunk in about five years from 8.5% to less than 5%, unacceptable, but progress.

The most important single measurement, especially for insertion into political predictions, is GDP per capita growth, which declined dangerously from 4.5% in the Reagan years to 3.9% in the Clinton terms, to 2% under George W. Bush to 1% with Obama. This trend had to be reversed to prevent extreme economic and political stress.

Economics, essentially, is half psychology and half third-grade arithmetic. President Trump has won the arithmetic and there are no serious signs of incipient recession: neither rising interest rates presaging inflation, which could require recessive measures to cool, nor serious slackening of demand.

Under the circumstances, it will be hard for Democratic officials and press fear-mongering to win the psychological battle over the direct personal experience and observations of the voters.

The only signs of economic weakness are from other important countries. The European Union appears to be about to suffer the grievous self-inflicted wound of failing to reach a reasonable compromise with the UK, and the loss of its second-largest national economy and most prestigious member. This would be a benefit to the United States as a free trade agreement with the world’s fifth-largest economy would be eminently negotiable.

China, despite its huffing and puffing and the solicitude for its “face” [that] it has stirred up in the weak-kneed precincts of the over-populated anti-Trump world, is sputtering and losing jobs to Vietnam, India, and Mexico. Those who have been so prostrated in their hostility to the president that they have subscribed to Chinese leader Xi Jinping’s “Belt and Road” hegemonic plan will suffer the disconcertion of seeing China adopt a sharp course correction.

The comparative weakness of China’s rivals will assist the prolongation of the American boom, which only seems so protracted because there never really was a full recovery under President Obama, little more than stabilization with a 125% increase in accumulated national debt in eight years. The workforce shrank, welfare dependency rose, and a flat-lined “new normal” that the country could not live with was proclaimed.

The Democrats and their press are trying to delay the sober and balanced assessment of the merits of the candidates coming up to the 2020 election. To repurpose a beloved Democratic expression, the inconvenient truth is that Mr. Trump has been a good president who has kept his promises.[2]

As I have written:

Our adversaries have only seen a small portion of America’s vast economic might. For example, by denying use of the SWIFT payments system to Russia, we can bring the pygmy economy (smaller than Italy or Brazil) to its knees. Also, as the United States regains its dominant position in the world’s energy markets, Russia loses. And China’s economy is not in great shape today either.

Like Abraham Lincoln before him, Donald Trump is asserting America’s preeminence and dominance, unapologetically. And yes, the United States is at war, albeit it is not a shooting war at this time.[3]

Economic cycles are a way of life, which have occurred with consistency over hundreds if not thousands of years.  And I added:

One can look at Life negatively (e.g., ALL of us are going to die), optimistically, or “realistically.”

I have believed that the “Great Recession [of 2008]” was papered over, and the proverbial “can” was simply kicked down the road.

. . .

However, the USSR is gone; Russia is a pygmy state; and China has lots of problems. We have survived because of optimism and realism, not pessimism.[4]

America’s Left and its captive so-called “Mainstream Media” are hoping for a recession (or worse), which they can blame on President Trump.  In essence, they are hoping that America fails, instead of succeeds and prospers.  This is not the Democratic Party of Franklin D. Roosevelt, who did his best to get us out of the Great Depression and rebuild America’s spirit and industrial might.

Instead, this is the party of un-American mental midgets like Jerry Nadler and Adam Schiff; outright racists like Maxine Waters and Elijah Cummings; and anti-Semites such as Alexandria Ocasio-Cortez, Ilhan Omar and the other members of their so-called “Squad.”  It is also the party of Barack Obama and his fellow traitors who sought to destroy the candidacy and then the presidency of Donald Trump, and who should be in prison for the rest of their lives—at the very least.[5]

Bald Eagle and American Flag --- Image by © Ocean/Corbis

© 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 Timothy D. Naegele Resume-19-4-29). 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.nysun.com/national/latest-ploy-against-trump-is-to-conjure/90804/; see also https://naegeleblog.wordpress.com/2019/08/13/china-is-americas-enemy-and-the-enemy-of-free-people-everywhere/ (“China Is America’s Enemy, And The Enemy Of Free People Everywhere”)

[3]  See https://naegeleblog.wordpress.com/2019/02/06/the-state-of-our-union-2019/#comment-17585 (“America’s Global Might”)

[4]  See https://naegeleblog.wordpress.com/2019/08/11/u-s-attorney-general-barr-is-appalled-give-americans-a-break/#comment-18748

[5]  See, e.g., https://naegeleblog.wordpress.com/2019/08/11/u-s-attorney-general-barr-is-appalled-give-americans-a-break/ (“U.S. Attorney General Barr Is Appalled: Give Americans A Break!”) and https://naegeleblog.wordpress.com/2019/04/18/the-mueller-report-a-monumental-travesty/ (“The Mueller Report: A Monumental Travesty”) and https://naegeleblog.wordpress.com/2019/03/24/the-mueller-witch-hunt-is-over/ (“The Mueller Witch Hunt Is Over”) 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/2018/05/24/should-barack-obama-be-executed-for-treason/ (“Should Barack Obama Be Executed For Treason?”) and https://naegeleblog.wordpress.com/2018/03/11/robert-mueller-should-be-executed-for-treason/ (“Robert Mueller Should 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/2013/07/15/justice-and-the-law-do-not-mix/ (“Justice And The Law Do Not Mix”) and https://naegeleblog.wordpress.com/2012/03/21/the-united-states-department-of-injustice/ (“The United States Department of Injustice”); see also 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/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) and https://www.dailymail.co.uk/news/article-7340581/Jerry-Nadler-says-formal-impeachment-proceedings-against-Donald-Trump-launched.html (“[Totally-despicable] Jerry Nadler says ‘formal impeachment proceedings’ against Donald Trump have been launched’)





Barack Obama Is Responsible For America’s Tragic Racial Divide

29 07 2019

 By Timothy D. Naegele[1]

In an article entitled “‘Own up to reality’: 2020 Democrats urged to confront US racial divide,” Lauren Gambino has written thoroughly anti-Trump screed in the UK’s Guardian, which nonetheless is worth reading:

In August 2016, Donald Trump stood before an overwhelmingly white crowd in Dimondale, Michigan, and asked black people for their votes.

“What the hell do you have to lose?” he growled.

He went on to accuse Hillary Clinton of caring more for immigrants than for black Americans, who he said were forced to live like “refugees in their own country”. After four years of a Trump administration, he vowed, 95% of African Americans would vote to keep him in office.

This week, it was evident that at least among members of the National Association for the Advancement of Colored People (NAACP), the nation’s oldest and largest civil rights organization, voters did not need four years to make up their minds.

A man who entered national politics by promoting the false “birther” conspiracy against the nation’s first black president, has, in office, equivocated in his response to a white supremacist march in Charlottesville; asked why the US does not attract more migrants from Norway instead of “shithole” countries like El Salvador, Haiti and various African nations; enacted brutal policies at the southern border; tried to include a citizenship question on the census; and told four lawmakers of color to “go back” to their home countries, regardless of the fact three were born in the US and all are American citizens.

At the association’s annual convention in Detroit this week, a unanimous vote recommended the impeachment of Trump, who the NAACP president, Derrick Johnson, said led “one of the most racist and xenophobic administrations since the Jim Crow era”.

“The pattern of Trump’s misconduct is unmistakable and has proven time and time again that he is unfit to serve as the president of this country,” Johnson said.

Appearing at the convention, the former vice-president Joe Biden cast the 2020 election as “a battle for the soul of this nation”. Other members of the most diverse Democratic presidential field in US history attacked Trump as a “bigot” whose rhetoric and policies have harmed communities of color while Bill Weld, Trump’s only Republican challenger, said the president “is a raging racist, OK? He’s a complete and thoroughgoing racist.”

Yet disagreement remained over whether Trump is an “aberration,[“] as Biden has argued, or if he is a symptom of more deeply rooted social and political ills.

“A country that elects a man like Donald Trump has serious problems,” said the Massachusetts senator Elizabeth Warren. “And we need to make big structural change.”

‘A strategy for a massive loss’

After Clinton’s defeat, many top Democrats determined Trump had won because white working class white voters abandoned the party as a result of its emphasis on race and identity. To beat him, they argued, candidates should only respond to Trump’s most inflammatory provocations and even then to quickly return to “kitchen table” issues: the economy, jobs, healthcare.

Trump spent the final months of the 2018 midterm campaign whipping up fear about an immigrant caravan at the southern border and the MS-13 gang. But Democrats won control of the House, taking seats in districts Republicans had held for decades with the help of suburban and college-educated white voters.

Now, though, in the wake of Trump’s incendiary attacks on the congresswomen Alexandria Ocasio-Cortez, Ilhan Omar, Rashida Tlaib and Ayanna Pressley, leading voices of the progressive left, many black leaders and liberal activists are pushing candidates to more aggressively combat the president and his combustible politics of racial division.

The former NAACP president Cornell Brooks said Trump was playing a dangerous game and implored Democrats not to treat 2020 as “race-neutral”.

“You cannot pretend,” he said, “that healthcare, highways, jobs and climate change, that those are issues of consequence but that hate crimes, xenophobia, children in migrant camps and the targeting of women of color are not real issues. That is a strategy for a massive loss.”

Stacey Abrams, the 2018 Democratic nominee for governor in Georgia, advocated a new approach.

“We’re taught that you could only win people of color – you can only turn African Americans – by losing white voters,” she said. “But we didn’t believe that was true.”

Abrams lost narrowly but in Detroit she argued that her historic candidacy – she would have been the first black female governor of a US state – had helped reshape the political landscape before the arrival of long-term demographic change, through which Americans of color are projected to become a majority around 2050.

African American votes are critical already. They formed a strong base of the multiracial coalition that twice elected Barack Obama and overwhelmingly backed Clinton in 2016. But that year also saw turnout among African Americans falling to its lowest rate in 20 years, with particularly sharp declines in midwestern states like Michigan, where Trump won by less than 11,000 votes of the 4.8m cast.

At a Pennsylvania rally after his election, Trump thanked black voters who stayed home, saying they were “almost as good” as those who voted for him.

‘Come-to-Jesus moment’

In Detroit, Marjorie Innocent, an NAACP staffer from Baltimore, said Trump had handed Democrats a “come-to-Jesus moment”.

“Under the Obama years there was a false sense of security around the progress we had achieved and the extent to which, collectively, we were on a similar page,” she said. “The Trump administration has exposed these divisions and shown us that they are still very much pervasive in our country and that they are deeply grounded in race and class – in that order. Now we need a leader who will own up to that reality.”

The public remains deeply divided over race but attitudes have shifted. In 2017, a record 41% of Americans said racial discrimination was the main reason black people could not get ahead. Among Democrats the figure was 64%, more than double what it was in 2010.

Accordingly, the party has introduced ambitious and detailed proposals to address racial disparities in maternal healthcare, to overhaul the criminal justice system and to expand access to public housing, improve accountability in policing, invest in education and explore reparations for the descendants of slaves.

But race and racism remain hot issues and the NAACP presidential forum provided a preview of battles to come in the second Democratic debate, which will take place in Detroit next week.

Biden said he was “not going to be as polite this time”. In the first debate, the California senator Kamala Harris, one of two leading black presidential candidates, clashed with the former VP over his record on race[].

Biden, who enjoys sizable support among African American voters, is also exchanging barbs with New Jersey senator Cory Booker, the other prominent black candidate. On the sidelines of the NAACP forum, Booker called Biden the “architect of mass incarceration”, regarding his role in helping to pass the 1994 crime bill while a senator for Delaware.

Biden, who has proposed criminal justice reform legislation to undo some of the effects of that bill, refuted the accusation and then unloaded on Booker, attacking his record as mayor of Newark. Biden’s campaign later released a memo on Booker’s time in the city, claiming there would not be sufficient time to raise each point during the TV debate.

Biden also reminded NAACP members that Obama had not been forced to pick him for vice-president.

“They did a significant background check on me,” he said. “I doubt he would have picked me if these accusations about my being wrong on civil rights [were] correct.”

On the debate stage on Wednesday, Biden will stand between Harris and Booker.

‘A matter of survival’

White House officials and Trump allies argue that voters will be persuaded by economic gains. The president regularly brags that unemployment among Hispanic and black Americans has fallen to record lows, even though the rates have since climbed. He also signed into law bipartisan legislation overhauling a criminal justice system that disproportionately ensnares people of color.

But NAACP members said such efforts pale in comparison to the harm Trump has done. Hate crimes have risen. Experts say white nationalism is a growing threat.

“Our interest in this conversation is not political,” said Johnson, the NAACP president. “Our interest in this conversation is a matter of survival.”

Trump hopes moves such as his attack on the progressive congresswomen can drive up white turnout while depressing Democratic support among moderates and independents. Some think that could backfire. At the NAACP convention, the Rev Jesse Jackson warned: “When you separate four bees, the whole hive comes out.”

But on Saturday, in tweets attacking the Maryland congressman Elijah Cummings and calling his district “a rat-infested mess”, the president did it again.[2]

First, by and large, the British media is biased against America’s President Donald Trump.  The marshaling of almost every conceivable negative against him in the article above simply mirrors these biases.

Second, by way of contrast, Barack Obama is praised despite the fact that he was and is a racist and anti-Semite.[3]  If anyone has any doubts whatsoever, please read his book “Dreams from My Father,” which is shocking.  It is summarized in the first article of this blog, with direct quotes and page cites.  It should be read by every American, which ideally should have happened before he was elected to the presidency.[4]

Third, Donald Trump was and is correct: if Hillary Clinton has cared about anyone other than herself, it seems to be illegal immigrants who would take jobs away from America’s blacks and other minority groups who are in the United States legally.[5]  Also, slavery and economic servitude were perpetrated and perpetuated by the Democratic Party, while the “Great Emancipator” Abraham Lincoln and the Republican Party brought an end to it.[6]

The National Association for the Advancement of Colored People (NAACP) was once a respected group; however, sadly today it is little more than another collection of race hustlers who sow racial divisions and victimization, and pander to America’s blacks in the hopes of being relevant and staying afloat financially.  As I have written previously:

150 years after slavery ended, the pathetic NAACP and other black racist organizations—like the so-called “Black Lives Matter,” Antifa and other violent groups—continue to play the “race card” at every turn, and seek “reparations” (e.g., welfare payments) for their flock.

They are spearheaded by “race hustlers” such as Barack Obama, Jesse Jackson, Al Sharpton, Maxine Waters, Elijah Cummings and other members of the so-called “Congressional Black Caucus”—which should be outlawed as a racist organization.

As other minorities rise up the economic totem pole, America’s blacks remain at the bottom and are passed over. And their thugs aka NFL players are highly paid, but ignore the plight of elderly and other blacks in Chicago and other American cities.[7]

Fourth, America’s blacks whose ancestors were brought to our shores as slaves are U.S. citizens.  Their rights must be protected and nourished and not destroyed or lessened by the influx of illegal immigrants from other countries.[8]  It is arguable that Barack Obama has never understood this, much less fully, because he grew up in Hawaii and Indonesia, and never lived on the American mainland until he attended Occidental College in Los Angeles.

Fifth, with respect to Barack Obama’s former Vice President, Joe Biden, he is being attacked by those in the Democratic Party who seek to destroy his presidential candidacy and advance their own.  Indeed, there are reasons to believe that Alexandria Ocasio-Cortez, Ilhan Omar and the other members of their so-called “Squad” may cost the Democratic Party both the presidency and the Congress in 2020.  And neither of them may be reelected.[9]

Sixth, as I have written:

[Progressive] is a term that has been coined or affixed to [members of America’s Left], to cloud, obscure or mask their true natures, identities and intentions.

They are the Jerrold Nadlers; the Adam Schiffs; the racist Maxine Waterses and Elijah Cummingses; the Richard Blumenthals (who lied repeatedly that he served with our military in Vietnam); the Elizabeth “Pocahontas” Warren (who lied repeatedly about her native-American heritage); the Kamala Harrises (who rose to “fame” and recognition as former San Francisco mayor WIllie Brown’s ho); and the list goes on and on.[10]

Seventh, the racists attempt to portray “people of color” as being all the same, when the reality is very different.  Blacks, or “African-Americans”—those whose ancestors were brought to America from Africa as slaves—are in the distinct minority, having been surpassed by Hispanic-Americans, or those with Hispanic heritages.[11]

Lastly, Barack Obama’s legacy may be that of a traitor who sowed racial divisions, and sought to destroy the candidacy and presidency of his successor.  Indeed, it may be concluded that he was and is the greatest traitor in American history.[12]  And yes, the United States and the American people will survive his treachery.  It warrants repeating:

I believe in this country, and I believe in Americans of all colors, faiths and backgrounds. The United States is the only true melting pot in the world, with its populace representing a United Nations of the world’s peoples. Yes, we fight and we even discriminate, but when times are tough—like after 9/11—we come together as one nation, which makes this country so great and special. Also, all of us or our ancestors came here from somewhere else. Even the American Indians are descended from those who crossed the Bering Strait—or the “Bering land bridge”—according to anthropologists.[13]

Barack Obama reading in prison

© 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 Timothy D. Naegele Resume-19-4-29). 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.theguardian.com/us-news/2019/jul/28/own-up-to-reality-2020-democrats-urged-to-confront-us-racial-divide (“‘Own up to reality’: 2020 Democrats urged to confront US racial divide”).

[3]  See, e.g., https://naegeleblog.wordpress.com/2014/01/06/ariel-sharon-is-missed/#comment-12626 (“DEMOCRATS ARE ANTI-SEMITES”).

[4]  See https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) (see also the extensive comments beneath the article).

[5]  See, e.g., https://naegeleblog.wordpress.com/2010/09/24/washington-is-sick-and-the-american-people-know-it/#comment-7185 (“Clinton Fatigue”).

[6] See, e.g., https://en.wikipedia.org/wiki/Emancipation_Proclamation (“Emancipation Proclamation”—”In Italy, Giuseppe Garibaldi hailed Lincoln as ‘the heir of the aspirations of John Brown’.  On August 6, 1863, Garibaldi wrote to Lincoln: ‘Posterity will call you the great emancipator, a more enviable title than any crown could be, and greater than any merely mundane treasure'”).

[7] See, e.g., https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/#comment-10895 (“Race Hustlers Like The NAACP, Colin Kaepernick And Barack Obama”).

[8] See, e.g., https://naegeleblog.wordpress.com/2010/07/30/illegal-immigration-the-solution-is-simple/ (“Illegal Immigration: The Solution Is Simple”) (see also the extensive comments beneath the article).

[9] See, e.g., http://www.dickmorris.com/aoc-omar-crash-in-the-polls-2020-election-alert/ (“AOC & Omar Crash In The Polls – 2020 Election Alert!”).

[10]  See https://naegeleblog.wordpress.com/2012/12/20/abortions-and-autos-kill-more-in-america-than-guns/#comment-17600 (“Abortions And Gay Rights Are Not American Values”); see also, https://naegeleblog.wordpress.com/2019/07/17/is-trump-driving-a-wedge-through-the-democratic-party/#comment-18289 (“The Democrats Are Pure Evil, And They Must Be Crushed”).

[11]  See https://en.wikipedia.org/wiki/White_Americans (“White Americans”—”White Americans (including White Hispanics) constitute the historical and current majority of the people living in the United States, with 72% of the population in the 2010 United States Census.  . . . European Americans are the largest ethnic group of White Americans and constitute the historical population of the United States since the nation’s founding”); see also https://en.wikipedia.org/wiki/African_Americans (“African American”—”African Americans (also referred to as Black Americans or Afro-Americans) are an ethnic group of Americans with total or partial ancestry from any of the black racial groups of Africa.  . . . Of the 12.6% of United States residents who identified as black [according to the 2010 U.S. Census], around 10.3% were ‘native black American’ or ethnic African Americans, who are direct descendants of West/Central Africans brought to the U.S. as slaves”) and https://en.wikipedia.org/wiki/Hispanic_and_Latino_Americans#20th_and_21st_centuries (“Hispanic and Latino Americans”—”Hispanic and Latino Americans constituted 18.1% of the total U.S. population in 2017).

[12] See 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/2014/01/06/ariel-sharon-is-missed/#comment-12626 (“DEMOCRATS ARE ANTI-SEMITES”); see also https://www.apnews.com/277fe31ea2234658a991243a9c6f2466 (“Polls show sour views of race relations in Trump’s America”).

[13] See https://naegeleblog.wordpress.com/2019/07/17/is-trump-driving-a-wedge-through-the-democratic-party/ (“Is Trump Driving A Wedge Through The Democratic Party?”) and https://naegeleblog.wordpress.com/2010/02/26/america-a-rich-tapestry-of-life/ (“America: A Rich Tapestry Of Life”) (quoting http://www.philstockworld.com/2009/10/11/greenspan’s-legacy-more-suffering-to-come/ and http://seekingalpha.com/instablog/2951-ilene/31177-interview-with-timothy-d-naegele).





Is Trump Driving A Wedge Through The Democratic Party?

17 07 2019

 By Timothy D. Naegele[1]

There are reasons to believe that Alexandria Ocasio-Cortez, Ilhan Omar and the other members of their “Squad” may cost the Democratic Party both the presidency and the Congress in 2020.  And neither of them may be reelected.[2]

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 “Trump Fuels a Tribal War in Nancy’s House”:

President Donald Trump’s playground taunt Sunday that “the Squad” of four new radical liberal House Democrats, all women of color, should “go back and help fix the totally broken and crime-infested places from which they came,” dominated Monday morning’s headlines.

Yet those headlines smothered the deeper story.

The Democrats are today using language to describe their own leaders that is similar to the language of the 1960s radicals who denounced Democratic segregationist governors like Ross Barnett and George Wallace.

Consider what the four women have been saying.

Alexandria Ocasio-Cortez has accused Speaker Nancy Pelosi of attacking “newly elected women of color.” Was she calling Pelosi a “racist”?

“No!” protested AOC. But it sure sounded like it.

AOC’s chief of staff Saikat Chakrabarti attacked Native American Rep. Sharice Davids for her vote on a Pelosi-backed bill that sent $4.6 billion in aid to the border but lacked the restrictions on Trump policies progressives had demanded.

Chakrabarti described Davids’ vote as “showing her … enable a racist system,” adding that some Democrats “seem hell bent to do to black and brown people what the old Southern Democrats did in the ’40s.”

The House Democratic Caucus ripped Chakrabarti, “Who is this guy and why is he explicitly singling out a Native American woman of color?”

At a Netroots Nation conference this weekend, African American Rep. Ayanna Pressley declared: “We don’t need any more brown faces that don’t want to be a brown voice. … We don’t need any more black faces that don’t want to be a black voice.”

This comes close to calling members of the Black Caucus “Uncle Toms.”

Monday, the president doubled down, tweeting:

“We all know that AOC and this crowd are a bunch of Communists, they hate Israel, they hate our own Country, they’re calling the guards along our Border (the Border Patrol Agents) Concentration Camp Guards, they accuse people who support Israel as doing it for the Benjamin’s”

The “Benjamins” recalls the accusation of Somali-born Ilhan Omar of Minnesota that the Israel Lobby buys the votes of members of Congress. “It’s all about the Benjamins baby.”

Rashida Tlaib of Michigan is the other congresswoman in Trump’s sights. Together, the four have achieved a prominence that almost exceeds that of Majority Leader Steny Hoyer or Majority Whip James Clyburn.

The four — AOC, Tlaib, Pressley, Omar — have no clout in the Democratic caucus. But because of the confrontations they have caused and the controversy they have created, they have a massive media following.

Paradoxically, their interests in winning cheers as the fighting arm of the Democratic Party coincide with the interests of Donald Trump. He entertains and energizes his base by answering in kind their attacks on him and by adopting incendiary rhetoric of his own. He is now assuming the old “America! Love it or Leave it!” stance in going after the four women as anti-American ingrates.

They, by calling Trump a criminal, racist and fascist for whom impeachment proceedings should have begun months ago, elate and energize the outraged left of their party.

Among the presidential candidates, some have begun to side with the four, with Bernie Sanders saying Pelosi has been “a little” too tough on them.

On “Meet the Press,” Bernie added: “You cannot ignore the young people of this country who are passionate about economic and racial and social and environmental justice. You’ve got to bring them in, not alienate them.”

Trump’s Sunday attack forced Pelosi to stand with her severest critics, and she re-elevated the race issue with this tweet: “When Trump tells four American Congresswomen to go back to their countries, he reaffirms his plan to ‘Make America Great Again’ has always been about making America white again.”

Do Democrats believe that refighting the racial battles of the 1960s that were thought to have been resolved is a winning hand in 2020?

Does Pelosi think that demeaning white America is going to rally white or minority Americans to Democratic banners?

The race issue had already arisen in the first debate when Sen. Kamala Harris called out front-runner Joe Biden for befriending segregationist Senate colleagues in the ’70s and ’80s, and for colluding with them to block court-ordered busing to achieve racial balance in the public schools.

Observing the clash between Trump and these women, the rank and file of the Democratic Party are being forced to take sides. Many will inevitably side with the fighters, as Democratic moderates appear timid and tepid.

Trump is driving a wedge right through the Democratic Party, between its moderate and militant wings. With his attacks over the last 48 hours, Trump has signaled whom he prefers as his opponent in 2020. It is not Biden; it is “the Squad.”

Sunday, Pelosi recited again her mantra, “Diversity is our strength; unity is our power.” It sounded less like a proclamation than a plea.

We see the diversity. Where is the unity?[3]

Next, new documents revisit questions about Omar’s marriage history.[4]  Will she be indicted, convicted, imprisoned and/or deported?

Clearly, there are massive racial divisions in the United States today, which were brought to us and fostered by the most racist, treasonous, un-American, anti-Semitic president in our history, Barack Obama.  If anyone has any doubts whatsoever, please read his book, “Dreams from My Father.”

His racist, fundamentally un-American beliefs are set forth there in his own words, and they are worth reading again and again—to remind each of us how we got to this racial divide.  Indeed, this blog began with an article that summarized the book, with direct quotes and page cites.[5]  But his treasonous presidential conduct has been on even fuller display, with his attempts to destroy the candidacy and then the presidency of Donald Trump.[6]

In the event that Obama and the four fascist congresspersons missed it, America is white, whether they like it or not.  And blacks, or African-Americans are in the distinct minority, having been surpassed by Hispanic-Americans, or those with Hispanic heritages.[7]  As I have written:

As a whole, African-Americans are the last hired and the first fired, except in government.

Other ethnic groups have come to our shores, but America’s blacks remain at the bottom of the totem pole, while the more recent arrivals climb above them (e.g., those of Mexican or Hispanic heritage, Asian Americans).

America’s first and perhaps last “Affirmative Action” president has only made their conditions worse.[8]

However, as I said in an interview ten years ago:

I believe in this country, and I believe in Americans of all colors, faiths and backgrounds. The United States is the only true melting pot in the world, with its populace representing a United Nations of the world’s peoples. Yes, we fight and we even discriminate, but when times are tough—like after 9/11—we come together as one nation, which makes this country so great and special. Also, all of us or our ancestors came here from somewhere else. Even the American Indians are descended from those who crossed the Bering Strait—or the “Bering land bridge”—according to anthropologists.[9]


© 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 Timothy D. Naegele Resume-19-4-29). 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 http://www.dickmorris.com/aoc-omar-crash-in-the-polls-2020-election-alert/ (“AOC & Omar Crash In The Polls – 2020 Election Alert!”)

[3]  See https://buchanan.org/blog/trump-fuels-a-tribal-war-in-nancys-house-137314

[4]  See http://www.startribune.com/new-documents-revisit-questions-about-rep-ilhan-omar-s-marriage/511681362/ (“New documents revisit questions about Rep. Ilhan Omar’s marriage history“)

[5]  See https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) (see also the extensive comments beneath the article)

[6] See 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/2014/01/06/ariel-sharon-is-missed/#comment-12626 (“DEMOCRATS ARE ANTI-SEMITES”); see also https://www.apnews.com/277fe31ea2234658a991243a9c6f2466 (“Polls show sour views of race relations in Trump’s America”)

[7]  See https://en.wikipedia.org/wiki/White_Americans (“White Americans”—”White Americans (including White Hispanics) constitute the historical and current majority of the people living in the United States, with 72% of the population in the 2010 United States Census.  . . . European Americans are the largest ethnic group of White Americans and constitute the historical population of the United States since the nation’s founding”); see also https://en.wikipedia.org/wiki/African_Americans (“African American”—”African Americans (also referred to as Black Americans or Afro-Americans) are an ethnic group of Americans with total or partial ancestry from any of the black racial groups of Africa.  . . . Of the 12.6% of United States residents who identified as black [according to the 2010 U.S. Census], around 10.3% were ‘native black American’ or ethnic African Americans, who are direct descendants of West/Central Africans brought to the U.S. as slaves”) and https://en.wikipedia.org/wiki/Hispanic_and_Latino_Americans#20th_and_21st_centuries (“Hispanic and Latino Americans”—”Hispanic and Latino Americans constituted 18.1% of the total U.S. population in 2017)

[8]  See https://naegeleblog.wordpress.com/2013/03/01/is-obama-the-new-nixon/#comment-6334 (“Black America’s Rising Woes Under Obama”)

[9]  See https://naegeleblog.wordpress.com/2010/02/26/america-a-rich-tapestry-of-life/ (“America: A Rich Tapestry Of Life”) (quoting http://www.philstockworld.com/2009/10/11/greenspan’s-legacy-more-suffering-to-come/ and http://seekingalpha.com/instablog/2951-ilene/31177-interview-with-timothy-d-naegele)





Will The Trump Presidency Conclude In 2025?

10 07 2019

 By Timothy D. Naegele[1]

There are reasons to believe that Donald Trump will be reelected in 2020, and serve another four-year term in office; and that his presidency will end in January of 2025.  If so, America will be changed forever.

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 “Are Democrats Ceding the Center to Trump?”:

Since the Democratic debates in June, the tide seems to have receded for the party and its presidential hopefuls.

In new polls, only Joe Biden leads President Donald Trump comfortably.

The other top-tier candidates — Sens. Bernie Sanders, Kamala Harris and Elizabeth Warren, and Mayor Pete Buttigieg — are running even with Trump, a measurable drop. A Washington Post-ABC poll just found Trump at 47% approval, a new high for his presidency.

Apparently, the more the nation sees of the alternatives to Trump the Democrats have on offer, the better The Donald looks. For Democrats, this is not good, not good at all.

For while Trump has run a daily gauntlet of dreadful media for two years, these Democrats have had only one debate and a few weeks of close coverage.

Between now and the New Hampshire primary, they will be going after one another and receiving a far more thorough vetting by a media in constant search of failings and flaws, especially of front-runners.

Traditionally, all candidates suffer attrition as the primaries come closer. For it is then that their lagging rivals become more desperate in their attacks and the media coverage becomes more intense.

Other problems have now arisen for the Democrats because of the issues that have come to the fore: race, radicalism and the border.

None looks like a winning Democratic issue in November 2020.

The race issue surfaced in the debate when Biden was called out by Harris for his professed friendships with segregationist senators like Herman Talmadge and James O. Eastland, and for Joe’s impassioned public resistance to the court-ordered bussing of black and white children for racial balance in the public schools of the 1970s.

Harris defended bussing as a necessary remedy to segregation and added that, as a “little girl,” she had been a beneficiary.

If your friends like Eastland had their way, said Harris, I would not be here in the Senate. For days, the issue dogged Biden, who, last weekend, apologized for any “hurt” he caused.

Biden seems to have recovered most of the ground lost from Harris’ attack. But that this racially charged issue threw him on the defensive for weeks assures it will be raised again by opponents to trip up the front-runner.

Another issue certain to come up in future debates, and in the South Carolina primary where 61% of the Democratic vote is African American, is reparations for slavery.

Several candidates have already endorsed a commission to study reparations, and Biden and every other candidate will have to take a stand.

Yet, recent polls show that Americans, by 2-1, are opposed to paying reparations for a system of slavery that was abolished 150 years ago.

Bottom line: If the 2020 campaign becomes a conversation about reparations for slavery and the bussing of white kids from the suburbs into inner-city schools to achieve greater integration, the Democrats will be in a world of hurt.

On border security, indispensable to Trump in 2016, Democrats in the debates came out for ending criminal detention of people invading our country and for providing free health care for migrants who successfully break into the USA.

Detesting ICE as they do, and supporting sanctuary cities, left-wing Democrats routinely describe the Border Patrol as neo-fascists who run “concentration camps” where migrant children are forced to drink toilet water. The Democrats are becoming an open borders party.

What is their solution to the hundreds of thousands of migrants who annually arrive at our borders? Foreign aid. They want to create a Marshall Plan for Honduras, Guatemala and El Salvador so refugees will stay home rather than come to the USA for the health care Democrats will provide at taxpayer expense.

Among other ideas advocated by leading Democratic candidates:

Free college for all, cancellation of all student loan debt, Medicare for All, an end to private health insurance and the companies that provide it, the abolition of the Electoral College, expansion of the Supreme Court to 15 justices, the abolition of ICE, a phase-out all fossil fuels for a carbon neutral country, and repeal of all Trump tax cuts.

What is causing the moderate Democrats to adopt what they used to regard as radical positions? The party base, which votes in primaries and is further left than it has ever been.

Also pulling the party leftward is Alexandria Ocasio-Cortez and her sisters in Congress who receive extensive and indulgent media coverage and have a powerful following among millennials.

What the Democratic Party is risking today — and what many of its leaders recognize — is that it will be pulled so far outside the mainstream of American politics in the nomination battle, that its nominee will not be able to make it back close enough to the center to win.

If the Democratic Party, as its alternative to Trump, decides to run on this radical new agenda, America will punish that hubris with a second term for Trump.[2]

It is likely that the Biden candidacy will collapse for a myriad of reasons, not the least of which he is prone to gaffes and mistakes that are seemingly unforgivable.  He may be shown to be an utter buffoon, sooner rather than later; and the fact that his son Hunter has been embroiled in scandals, linked to his father, may only compound his problems.[3]

Bernie Sanders is authentic, albeit a true socialist not unlike Karl Marx; and his only viable chance of getting the Democratic Party’s nomination may have died in 2016, at the hands of Hillary Clinton and her thugs.  Did Sanders deserve to be the party’s nominee?  Probably so, but he was robbed of it then, as history will attest.

Kamala Harris’ political career began as former San Francisco Mayor Willie Brown’s ho.  And having been nurtured while “working” on her back, this may forever define her credentials as a candidate for higher offices.  The fact that California’s Leftist voters let her “skate” speaks volumes about what has happened in this once-great and proud State.[4]

Elizabeth “Pocahontas” Warren, who lied repeatedly about her native-American heritage, is going nowhere fast.[5]  Like the remainder of the pygmies and societal misfits who are running for their party’s nomination, they are likely to join the growing ranks of ignominity.[6]  And yes, lots of us began as Democrats, but will never vote for one again.

Pat Buchanan is correct that race, radicalism and “the border” are likely to be in the minds of Americans as they approach and vote in next year’s elections.  Crime, abortions and a plethora of other issues will affect their decisions too, but Buchanan may be correct when he concluded:

What the Democratic Party is risking today — and what many of its leaders recognize — is that it will be pulled so far outside the mainstream of American politics in the nomination battle, that its nominee will not be able to make it back close enough to the center to win.

If the Democratic Party, as its alternative to Trump, decides to run on this radical new agenda, America will punish that hubris with a second term for Trump.[7]

The Left’s efforts to radicalize America must be stopped in their tracks.  Our borders must be closed tight, except to those who come here legally[8]. Sanctuary cities and other lawlessness must be eradicated.

Those who are in our great country illegally must be rooted out and deported summarily.  Violent groups like Antifa must be designated as terrorist groups, and dealt with harshly.  Eco-Nazis must be repudiated; and the hoax of man-made “global warming” must be exposed for what it is.[9]

Abortions must be treated as Infanticide, with criminal consequences ensuing for all involved.  Our Electoral College must be respected and adhered to, not cheapened or discarded.  All student loan debt must be paid back, not forgiven.

Radical judges who seek to legislate from the bench must be removed, and replaced with those who will follow the law, not discard it. Those who sought to destroy the candidacy or the presidency of Donald Trump must be prosecuted and imprisoned for treason, at the very least.

And the list goes on and on.

. . .

Lastly, will Bill Clinton’s flights on Jeffrey Epstein’s “Lolita Express” jet—allegedly 26 times, involving the sexual trafficking of young girls—affect the Democratic Party’s election chances?[10]


© 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 Timothy D. Naegele Resume-19-4-29). 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/are-democrats-ceding-the-center-to-trump-137283; see also https://naegeleblog.wordpress.com/2012/12/20/abortions-and-autos-kill-more-in-america-than-guns/#comment-17600 (“Abortions And Gay Rights Are Not American Values”)

[3]  See, e.g., https://en.wikipedia.org/wiki/Hunter_Biden (“Hunter Biden”)

[4]  See https://naegeleblog.wordpress.com/2018/07/29/it-is-time-for-trump-supporters-to-fight-back/#comment-15821 (“Willie Brown’s Mistress Runs For America’s Presidency”); see also https://naegeleblog.wordpress.com/2019/02/06/the-state-of-our-union-2019/#comment-17756 (“Texafornia: America’s Future?”) and https://naegeleblog.wordpress.com/2018/07/01/the-death-of-new-york-city/#comment-14019 (“THE DEATH OF SAN FRANCISCO?“) and https://www.sfgate.com/expensive-san-francisco/article/move-out-of-bay-area-california-where-to-go-cost-13614119.php (“53 percent of Californians want to leave the state, according to new survey”)

[5]  See https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/#comment-12509 (“LYING POCAHONTAS REFUSES TO BE TESTED“)

[6]  The only exception might be Tulsi Gabbard of Hawaii, who has an impressive background, but she has many years ahead of her; and she can be viewed as a far-Left Democrat too.

See https://naegeleblog.wordpress.com/2019/04/29/the-democrats-are-evil-but-smart-while-the-republicans-are-neanderthals-and-dumb/#comment-17837 (“Tulsi”)

[7]  As I stated previously:

Liberalism and its counterparts in the far-Left beliefs and actions of the United States are an equal threat to America’s future [vis-à-vis our external enemies such as Russia’s dictator-for-life Vladimir Putin].  Whether it be the violent Antifa groups, who seek to silence dissent, or their counterparts in the Democratic Party, today’s radical Leftists are threats to America’s democracy, to its history and heritage, and to all that most Americans hold dear and cherish.

. . .

Perhaps the most vivid example of Liberalism in America today can be summed up in the following facts:

Roe v. Wade unleashed a holocaust of epic proportions, which ranks with the greatest holocausts in human history—including the Nazi Holocaust, Stalin’s Soviet Holocaust and Mao’s Chinese Holocaust.

“Indeed, more human beings have been killed as a result of abortions—since the U.S. Supreme Court handed down its decision in 1973—than in each of the other three holocausts.”

See https://naegeleblog.wordpress.com/2019/07/02/is-putin-right/ (“Is Putin Right?”); see also https://en.wikipedia.org/wiki/Antifa_(United_States) (“Antifa (United States)”) and https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) (see also the extensive comments beneath the article) 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/2014/01/06/ariel-sharon-is-missed/#comment-12626 (“DEMOCRATS ARE ANTI-SEMITES”) 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/2012/12/20/abortions-and-autos-kill-more-in-america-than-guns/#comment-17243 (“Finally, More Abortion Bans Are Coming“) and https://naegeleblog.wordpress.com/2012/12/20/abortions-and-autos-kill-more-in-america-than-guns/#comment-3298 (“55 Million American Babies Killed Since Roe v. Wade“)

[8]  See https://naegeleblog.wordpress.com/2010/07/30/illegal-immigration-the-solution-is-simple/ (“Illegal Immigration: The Solution Is Simple”) (see also the extensive comments beneath the article)

[9]  See https://naegeleblog.wordpress.com/2015/11/30/a-34-trillion-swindle-the-shame-of-global-warming/ (“A $34 Trillion Swindle: The Shame Of Global Warming”) (see also the extensive comments beneath the article)

[10]  See, e.g., https://www.dailymail.co.uk/news/article-7226525/Bill-Clinton-insists-no-idea-Jeffrey-Epsteins-terrible-crimes.html (“Bill Clinton insists he had no idea about Jeffrey Epstein’s ‘terrible crimes'”) and https://www.dailymail.co.uk/news/article-7229027/President-Trump-banned-Jeffery-Epstein-Mar-Lago-sexually-assaulted-underage-girl.html (“President Trump banned Jeffery Epstein from Mar-a-Lago after he sexually assaulted an underage girl”) and https://naegeleblog.wordpress.com/2010/09/24/washington-is-sick-and-the-american-people-know-it/#comment-7185 (“Clinton Fatigue”)





Is Putin Right?

2 07 2019

 By Timothy D. Naegele[1]

I have been outspoken in my condemnation of Russia’s venomous Vladimir Putin.  Perhaps my article about him on November 29, 2015—entitled “The Death Of Putin And Russia: The Final Chapter Of The Cold War”—summed up my beliefs and yes, hopes, the best:

The death of Russia’s brutal dictator-for-life Vladimir Putin, and the end of Russia, will comprise the final chapter of the Cold War—which began at the end of World War II, and lasted more than 70 years.

. . .

It is estimated that the Soviet Union’s Joseph Stalin was responsible for the deaths of more than 30 million men, women and children—his own countrymen—including millions during the collectivization of the Soviet farms in the 1930s. As the Soviets moved through Germany and captured Berlin at the end of World War II, they raped at least two million German women in what is now acknowledged as the largest case of mass rape in history.

. . .

Putin is a killer, and Stalin’s heir.  After World War II, he came to prominence as a KGB operative in East Germany—or the DDR, as it was known before the collapse of Erich Honecker’s government—which was one of the most repressive regimes in the Soviet Union’s orbit, or the Evil Empire. Following the USSR’s implosion, Putin and his thugs and cronies hijacked Russia’s incipient democracy, and have been exploiting it ever since.

. . .

Russia is crippled as a result of our economic sanctions and the fall of oil prices. By ratcheting up the sanctions even more—such as unilaterally denying Russia access to the SWIFT banking system—Putin and Russia will be in free fall, and in a death spiral from which they will not recover. . . .

Russia is weaker today than the former USSR before it collapsed. It spans nine time zones and includes 160 ethnic groups that speak an estimated 100 languages. It is by no means monolithic, and may crumble “overnight.” Once Putin is gone, Russia may be dismembered—never to rise again—with China taking part (e.g., Siberia, which it covets) and the rest becoming independent states like the former Yugoslavia.

Each of the new states will act in its own best interests, just as has been true in the former Yugoslavia, and among the countries that were spun off from the USSR—which have thrived as part of the West. Putinism will not survive Putin. It will suffer an ignominious death, like its namesake; and constitute a tragic watershed in history, like Adolf Hitler’s “Thousand Year Reich” and Nazism.

Let the celebrations begin. The end is near . . .

As if to add emphasis to my feelings about Putin, the photo at the end of the article was of a corpse.[2]

Yet, Pat Buchanan—an adviser to Presidents Richard Nixon, Ronald Reagan and Gerald Ford, and a former GOP presidential aspirant himself—has written in an article entitled “Is Putin Right? Has Liberalism Lost the World?”:

“The liberal idea has become obsolete. … (Liberals) cannot simply dictate anything to anyone as they have been attempting to do over the recent decades.”

Such was the confident claim of Vladimir Putin to the Financial Times on the eve of a G-20 gathering that appeared to validate his thesis.

Consider who commanded all the attention at the Osaka summit.

The main event was Trump’s meeting with China’s Xi Jinping and their agreement to renew trade talks. Xi runs an archipelago of detention camps where China’s Uighur Muslims and its Kazakh minority have their minds coercively “corrected.”

A major media focus at the summit was Trump’s meeting with Putin where he playfully admonished the Russian president not to meddle again in our 2020 election. The two joked about how both are afflicted with a media that generates constant fake news.

At the G-20 class picture, Trump was seen smiling and shaking hands with Saudi Crown Prince Mohammed bin Salman, whom U.S. intelligence says ordered the murder of Washington Post columnist Jamal Khashoggi.

Trump called the prince “a friend” who has done a “spectacular job.”

Trump then left for Seoul, traveled to the DMZ, and crossed into North Korea to shake hands with Kim Jong Un, who runs a police state unrivaled for its repression.

Negotiations on Kim’s nuclear weapons may be back on track.

Among other G-20 leaders present were Hindu nationalist Narendra Modi of India and President Recep Erdogan of Turkey, who has imprisoned tens of thousands following a coup attempt in July 2016.

In his interview with the FT’s Lionel Barber, Putin appeared as much an analyst of, as an advocate for, the nationalism and populism that seems to be succeeding the 20th-century liberalism of the West.

Why is liberalism failing? Several causes, said Putin. Among them, its failure to deal with the crisis of the age: mass and unchecked illegal migration. Putin praised Trump’s efforts to secure the U.S. border:

“This liberal idea has become obsolete. It has come into conflict with the interests of the overwhelming majority of the population. … This liberal idea presupposes that … migrants can kill, plunder and rape with impunity because their rights as migrants have to be protected.”

Putin deplored Chancellor Angela Merkel’s 2015 decision to bring into Germany a million refugees from Syria’s civil war.

His comments came as 10 Democratic candidates in the second presidential primary debate were raising their hands in support of the proposition that breaking into the USA should cease to be a crime and those who succeed in breaking in should be given free health care.

Putin also sees the social excesses of multiculturalism and secularism in the West as representing a failure of liberalism.

In a week where huge crowds celebrated the 50th anniversary of the Stonewall “uprising” in Greenwich Village, as it is now called, with parties and parades, Putin declared:

“Have we forgotten that all of us live in a world based on biblical values? … I am not trying to insult anyone because we have been condemned for our alleged homophobia. But we have no problem with LGBT persons. God forbid, let them live as they wish.”

He added, “But some things do appear excessive to us. They claim now that children can play five or six gender roles.”

Elton John pronounced himself “deeply upset.”

Putin did not back off: “Let everyone be happy … But this must not be allowed to overshadow the culture, traditions and traditional family values of millions of people making up the core population.”

Putin took power, two decades ago, as this 21st century began. In recent years, he has advanced himself not only as a foe of liberalism but a champion of populism, traditionalism and nationalism.

Nor is he hesitant to declare his views regarding U.S. politics.

Of Trump, Putin says, “He is a talented person (who) knows very well what his voters expect of him. … Trump looked into his opponent’s attitude toward him and saw changes in American society.”

Recalling his own controversial comment that the collapse of the Soviet Union was the greatest tragedy of the 20th century, Putin said the tragedy was not the death of Communism but the shattering of the Russian Federation into 15 separate nations.

The tragedy was the “dispersal of ethnic Russians” across the newly independent successor states of the Soviet Union: “25 million ethnic Russians found themselves living outside the Russian Federation. … Is this not a tragedy? A huge one! And family relations? Jobs? Travel? It was nothing but a disaster.”

What may be said of Putin?

He is no Stalin, no Communist ideologue, but rather a Russian nationalist who seeks the return of her lost peoples to the Motherland, and, seeing his country as a great power, wants NATO out of his front yard.

While we have issues with him on arms control, Iran and Venezuela, we have a common interest in avoiding a war with this nuclear-armed nation as we did with the far more menacing Soviet Empire of the Cold War.[3]

I have not changed my opinion of Putin, but believe that Liberalism and its counterparts in the far-Left beliefs and actions of the United States are an equal threat to America’s future.  Whether it be the violent Antifa groups, who seek to silence dissent[4], or their counterparts in the Democratic Party, today’s radical Leftists are threats to America’s democracy, to its history and heritage, and to all that most Americans hold dear and cherish.  And yes, lots of us began as Democrats, but will never vote for one again.

Perhaps the traitorous, racist, anti-Semite Barack Obama fractured the American fabric more than any single person in our history.  He grew up in Hawaii and Indonesia, and never lived on the U.S. mainland until he attended Occidental College in Los Angeles.  A window into his “soul” is best understood by reading his book, “Dreams from My Father,” which is shocking.  Indeed, the book was summarized—with direct quotes and page cites—in the first article that was published in this blog.[5]

Many Americans believe that he should be in prison today—at the very least—for trying to destroy the Trump candidacy and then the Trump presidency.[6]  Perhaps the most vivid example of Liberalism in America today can be summed up in the following facts:

Roe v. Wade unleashed a holocaust of epic proportions, which ranks with the greatest holocausts in human history—including the Nazi Holocaust, Stalin’s Soviet Holocaust and Mao’s Chinese Holocaust.

Indeed, more human beings have been killed as a result of abortions—since the U.S. Supreme Court handed down its decision in 1973—than in each of the other three holocausts.[7]

This is the gift of death that Liberals and the far-Left keep giving to Americans each and every day.

© 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 Timothy D. Naegele Resume-19-4-29). 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/2015/11/29/the-death-of-putin-and-russia-the-final-chapter-of-the-cold-war/ (“The Death Of Putin And Russia: The Final Chapter Of The Cold War”).

[3]  See https://buchanan.org/blog/is-putin-right-has-liberalism-lost-the-world-137223 (“Is Putin Right? Has Liberalism Lost the World?”)

[4]  See https://en.wikipedia.org/wiki/Antifa_(United_States) (“Antifa (United States)”)

[5]  See https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”) (see also the extensive comments beneath the article)

[6]  See 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/2014/01/06/ariel-sharon-is-missed/#comment-12626 (“DEMOCRATS ARE ANTI-SEMITES”) and https://naegeleblog.wordpress.com/2015/01/03/edward-w-brooke-is-dead/ (“Edward W. Brooke Is Dead”) and https://naegeleblog.wordpress.com/2017/05/16/americas-newest-civil-war-2017-and-beyond/ (“America’s Newest Civil War: 2017 And Beyond”)

[7]  See https://naegeleblog.wordpress.com/2012/12/20/abortions-and-autos-kill-more-in-america-than-guns/#comment-17243 (“Finally, More Abortion Bans Are Coming“); see also https://naegeleblog.wordpress.com/2012/12/20/abortions-and-autos-kill-more-in-america-than-guns/#comment-3298 (“55 Million American Babies Killed Since Roe v. Wade“)





Will The EU’s Collapse Push The World Deeper Into The Great Depression II?

16 05 2010

By Timothy D. Naegele[1]

“For want of a nail . . .  the kingdom was lost.”[2] Will Greece’s debt crisis lead to a Greek debt default and the collapse of the euro and an ensuing collapse of the 27-member European Union (or EU), and trigger the next round of crashes that will be described by economic historians decades from now as “the Great Depression II”?[3] The assassination of Archduke Franz Ferdinand of Austria and his wife in Sarajevo, Serbia brought the tensions between Austria-Hungary and Serbia to a head.  In turn, it is said this triggered a chain of international events that embroiled Russia and the major European powers; and World War I broke out in Europe.[4] Will Greece’s debt crisis set a series of events in motion that sends the world into a downward economic spiral of unfathomable proportions?

For years, I have wrestled with the question of whether the Europe would collapse economically, politically, socially and militarily.  Sounds absurd, you say?  The countries are too interwoven and mutually dependent now for that to happen, and at the very least they will muddle along, making the worst of the best situations, and achieving the lowest common denominator?  The United States of Europe, they are not and never will be, but they have achieved a degree of cohesiveness that I never thought was likely years ago.

I believed jealousies and rivalries and, yes, the hatreds of the past would linger barely beneath the surface, coming unglued at the most inopportune times when it really mattered the most.  When the chips were down, I felt the EU would splinter and fall apart; and that its participants and the world would write it off as a noble experiment that failed, much like the League of Nations.  After all, its successor—the United Nations—is considered to be a colossal joke by Americans, many of whom would love to see it shipped to Europe, and its building on the East River in Manhattan bulldozed and turned into a park, or made into co-ops or condominiums.

The bitter hatreds of the past seem to have subsided in Europe though, and it has become a cultural melting pot, more and more.  Airbus was the first tangible sign of economic integration that I never thought would be possible.  To see the Germans and French working together, and genuinely enjoying each other and producing competitive aircraft on a global scale, was something to behold.  The economic interdependence and booming economies covered up a myriad of sins, mistakes and weaknesses.  It all looked very rosy until the economic tide in Europe and worldwide began to turn.  Then, potholes showed up where there had been rose gardens; and recriminations began to occur that had been buried beneath the surface.

Today Greece is teetering, and anger is intensifying over proposed cuts that are to be made as part of the EU deal to save the country’s economy.  It is the age-old battle between the haves and have-nots, and between those who will bear the burden of the cuts and the wealthy who will escape them.  However, anti-American sentiments are growing because the International Monetary Fund (or IMF) is viewed as a tool of the U.S., which is carrying out American policies.  Like the U.N., the IMF has taken on more powers and responsibilities than were ever envisioned; and it needs to be curbed, and its U.S. support diminished.[5]

Perhaps a recent editorial by the Wall Street Journal best captured the “contagion” that began with Greece:

It hasn’t been a week since the terms of Athens’s . . . bailout were set, and already the reviews of this latest Greek drama are saying it’s a flop.  Yesterday the euro sank to its lowest level in a year.  Stock markets across Europe fell nearly 3%, and the carnage spread to Wall Street and beyond.  Greek interest-rate spreads climbed higher again, and market players have turned their attention to the euro zone’s other weak sisters as everyone tries to figure out who is most likely to follow Greece down the road to national insolvency.

The bailout, in other words, hasn’t stopped the much-feared contagion. If anything, it has spread it.[6]

The Archduke revisited—and hardly encouraging to a world that is in the process of revisiting the Great Depression.  And reason enough for panics, with many more to come.[7]

In another editorial, the Journal added:

The real gamble is being made by politicians who are calculating that, by taking the risk of sovereign default off the table for now, they are giving the global economic recovery time to build and making it easier to address Europe’s fiscal woes.

. . .

In the euro’s first serious test, the political class blinked.  The resulting moral hazard will haunt the single currency for years and reduce the incentive for governments to keep their fiscal houses in order.[8]

Even more troubling is the prospect that the 16-nation (out of the 27-EU member states) shared euro currency may be headed for disintegration.  “The euro is doomed,” said one market analyst.

As German Chancellor Angela Merkel observed, Europe is in a “very, very serious situation”; and the U.K.’s new Prime Minister David Cameron and his coalition partner, Nick Clegg, may have major problems keeping the left wing of the Liberal Democrats and the right wing of the Conservatives (or Tories) in line, and a new election may be called before year-end.[9] Also, it is predicted that “China’s economy will slow and possibly ‘crash’ within a year as the nation’s property bubble is set to burst”—which may have troubling implications for whether China will continue to buy and hold our government debt.[10] In turn, this is a major economic and national security risk.

The economic tsunami that former Federal Reserve Chairman Alan Greenspan unleashed has produced consequences far beyond those that were ever envisioned—and far beyond American shores—which will last through the end of this decade, and possibly a generation.  Giulio Tremonti, Italy’s Minister of Economy and Finance, has said: “Greenspan was considered a master.  Now we must ask ourselves whether he is not, after [Osama] bin Laden, the man who hurt America the most.”  These words speak volumes; however, they fall short of describing the global dimensions and consequences of Greenspan’s actions and inactions.[11]

The central banks of the world are essentially out of options, and the worst is yet to come.  Hold on tight.  It will not be pretty—and global citizenry anger may be truly mind-boggling![12]

© 2010, Timothy D. Naegele


[1] Timothy D. Naegele was counsel to the U.S. Senate Banking Committee, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass), the first black senator since Reconstruction after the U.S. Civil War.  He practices law in Washington, D.C. and Los Angeles with his firm, Timothy D. Naegele & Associates (www.naegele.com).  He has an undergraduate degree in economics from UCLA, as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University.  He is a member of the District of Columbia and California bars.  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.  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

[2] The proverb, “For Want of a Nail,” states:

For want of a nail the shoe was lost.

For want of a shoe the horse was lost.

For want of a horse the rider was lost.

For want of a rider the battle was lost.

For want of a battle the kingdom was lost.

And all for the want of a horseshoe nail.

See http://en.wikipedia.org/wiki/For_Want_of_a_Nail_(proverb)

[3] See, e.g.http://apnews.myway.com/article/20100408/D9EURADO0.html and http://www.bloomberg.com/apps/news?sid=aL3SiaURK8dQ&pid=20601087

[4] See, e.g.http://en.wikipedia.org/wiki/Assassination_of_Archduke_Franz_Ferdinand_of_Austria

[5] As the London Times points out:

Even greater social unrest is expected as resentment simmers among poorer families at being told to tighten their belts when wealthy Greeks can protect their fortunes by moving their money abroad, some of it into property bargains in London.

See http://www.timesonline.co.uk/tol/news/world/europe/article7113941.ece The Times article adds:

Mikis Theodorakis, the 84-year-old musician who composed the score for the film Zorba the Greek, calls for revolt against what he sees as an American plot to turn Greece into a “protectorate”.

[6] See http://www.naegele.com/documents/TheGreekBailoutFlop_000.pdf

[7] On May 6, 2010, the Dow Jones Industrial Average “ended down 347.80, or 3.2 percent, at 10,520.32, after being down as much as 998.50 earlier, the Dow’s biggest intraday drop on record.”

See http://www.cnbc.com/id/36988229

The CNBC article added:

“We’ve seen a crisis start in a country—Greece—become regional, impact the whole of the Euro zone and is on the verge of truly going global,” said El-Erian, CEO of the world’s biggest bond fund.

. . .

There is simply a growing recognition that Greece has got to default, said Rochdale banking analyst Dick Bove. “The riots in the streets showed the decision to repay the debt was not going to be made by the people in Germany, France and Switzerland, it’s going to be made by people in Greece and they’re not going to repay it,” he said. “Anyone seeing the riots is going to recognize that this government is going to be thrown out and anything replacing this government is going to be far more leftist leaning and they’re going to repudiate.”

See id. A Wall Street Journal article added:

The velocity of the plunge in stocks was breath-taking. Investors fled everything from stocks and risky bonds to commodities and poured money into safe assets such as U.S. Treasurys and gold.

. . .

“You worry about the a domino effect, from Greece to Portugal to Ireland and Spain,” said Richard Schottenfeld, general partner of Schottenfeld Associates, a New York hedge fund. “Pretty soon those kinds of losses are bigger than housing.”

Investors said they were worried about potential contagion from Greece’s ongoing problems, and whether eventual losses could even exceed those of the U.S. housing collapse.

See http://online.wsj.com/article/SB10001424052748704370704575227754131412596.html?mod=WSJ_hps_LEADNewsCollection

[8] The Journal’s editorial added:

The real euro crisis, in short, is one of overspending and policies that sabotage economic growth. Sunday’s shock and awe campaign has merely postponed that reckoning—and at a fearsome price.

See http://www.naegele.com/documents/TheRealEuroCrisis.pdf

[9] See http://www.bloomberg.com/apps/news?pid=20601087&sid=aqquuYOAN_sE (“European policy makers last week unveiled a loan package worth almost $1 trillion and a program of bond purchases in an effort to contain a sovereign-debt crisis that has threatened to shatter confidence in the euro.  . . .  By resorting to what some economists have called the ‘nuclear option,’ the [European Central Bank, or] ECB may open itself to the charge it’s undermining its independence by helping governments plug budget holes”)

[10] See http://www.upi.com/Top_News/Analysis/2010/05/07/Commentary-Fiscal-WMD/UPI-69801273233877/

[11] See http://www.philstockworld.com/2009/10/11/greenspan’s-legacy-more-suffering-to-come/ and http://www.americanbanker.com/issues/173_212/-365185-1.html and http://www.realclearpolitics.com/news/tms/politics/2009/Apr/08/euphoria_or_the_obama_depression_.html

[12] See also http://www.naegele.com/documents/MatthewKaminski-EuropesOtherCrisis.pdf (“Germans no longer feel obliged to pay for the sins of their forefathers by bankrolling Europe.  . . .  ‘The EU is falling to pieces'”) and http://finance.yahoo.com/news/Spain-debt-downgraded-by-apf-1816859080.html?x=0&.v=27 (Spain) and http://www.ft.com/cms/s/0/6f696c52-456a-11df-9e46-00144feab49a.html (“Soros warns Europe of disintegration”) and http://online.wsj.com/article/SB10001424052748703525704575061172926967984.html?mod=WSJ_hp_mostpop_read (“Europe is entering unprepared into a serious economic crisis—and the nascent global recovery could easily collapse due to the unsustainable and Ponzi-like buildup of government debt in weaker countries.  . . .  The issues for troubled euro zone countries are straightforward: Portugal, Ireland, Italy, Greece and Spain (known to the financial markets, and not in a polite way, as the PIIGS) had varying degrees of foreign- and bank credit-financed rapid expansions over the past decade.  In fall 2008, these bubbles collapsed.  . . .  Since these struggling countries share the euro, run by the European Central Bank in Frankfurt, . . . they are left with the need to massively curtail demand, lower wages and reduce the public sector workforce.  The last time we saw this kind of precipitate fiscal austerity—when nations were tied to the gold standard—it contributed directly to the onset of the Great Depression in the 1930s.  . . .  Ireland’s banks are today probably insolvent. Who can afford to repay their mortgages when wages are falling and unemployment rising?  Irish house prices continue to speed downward.  This is not an example of a ‘careful’ solution—it is a nation in a financial death spiral”) and http://www.dailymail.co.uk/news/worldnews/article-1250433/Greece-debt-bailout-EU-leaders-split-euro-crisis.html and http://www.nytimes.com/2010/02/14/business/global/14debt.html?hp=&pagewanted=all








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