Trump Backgrounder for the Leftist Media

In today’s Trump Doral, Florida presser, the MSM are reporting in a variety of terse ways, that Donald Trump is asking the Russians to hack the DNC and God knows what else. For the record, this is the full reference that is being “precis’d”. The most serious hacks going on right now are the media hacks.

“If it is Russia, which it’s probably not, nobody knows who it is, But if it is Russia, it’s really bad for a different reason, because it shows how little respect they have for our country. When they would hack into a major party and get everything, but it would be interesting. I will tell you this. Russia, if you’re listening, I hope you find the thirty thousand emails that are missing. I think you’ll probably be rewarded mightily by our press. Let’s see if that happens next.”

The Progressive Left

“The fundamental flaw in both the left and its media is that they are craven. Without a moral compass and no sense of integrity or righteousness, they will chase every gold cloaked squirrel that runs in front of them, which is why they are where they are today: roadkill.”

The Next President of the United States.

If you didn’t tune in last night, to fully appreciate the content of Trump’s speech, and of the man, you need to hear three speeches from last night, in order. Tom Barrack, who sets the stage for Trump the man, then Ivanka (what a powerhouse this girl is) who sets the stage for who Trump is as a family man, and who the Trump Organization is as a business, then the slow rolling boil of Trump himself, who pulled no punches whatsoever. All three speeches form a “sales” package. People who have doubts about what Trump can do simply have no experience in the high powered, high energy, high stakes business world. And anyone who doubts that Trump doesn’t mean what he says he will do, would do well not to find themselves in the way of his freight train. Trump’s biggest obstacle as President will be that cannot just as easily fire people in govt as can be done in the private sector, but then, he believes in putting the most competent in control – he’ll let them do their job.

Will he accomplish all he’ll set out to do? No. Will he serve notice to a lot of squishes, both inside and outside the country, that there is a new sheriff in town? Absolutely.

Here they are, in order. Barrack and Ivanka run abt 15 minutes. Trump’s – an hour and 15….

Erickson: Why the Left Always Talks Gun Control

Why The Left Always Talks Gun Control

By Erick Erickson, July 8, 2016, Resurgent.com

A terrorist goes into a nightclub in Orlando and kills dozens. The President rushes out to make sure everyone knows it is a hate crime and we must have gun control. In Dallas, a man guns down police officers and the President rushes out and will not call it a hate crime, but declares we must have gun control. In addition to admitting he classifies hate crimes based on the victim’s class, not the intent of the killer, the President admits he has no ideas but gun control.

Like the solution always being the same whether the left believes we are in global cooling or global warming, the solution to every terrible act in America is gun control.

There are more than 300 million guns in private hands in the United States and more than 2 trillion rounds of ammunition in private hands. What we are seeing is not an out of control gun problem. In fact, mass shootings in the United States have fallen so much in the past century that the political left has insisted we redefine what a mass shooting is. It is all in the name of gun control.

The left will not talk about mental illness. The left will not talk about radical jihadism. The left only wants to talk about gun control. There is a very easy to understand explanation for this phenomenon.

For the left to talk about mental illness or radical jihadism or black on black crime or any other topic directly related to these episodes of mass violence, the left would have to explore the nature of morality and human depravity. But in the last century, the left has grown so secular that it no longer recognizes a shared morality and rejects the idea of human depravity.

Conservatives look on these acts, whether it be Baton Rouge or Ferguson or Orlando or Dallas and they see a world in moral collapse and struggles between good and evil. Black families have crumbled. Black fathers are in jail while the mothers struggle to keep the family together. Unemployment among black youth is high and people of faith understand that there is something soul nourishing about work. Even in the Garden of Eden there was work.

But we cannot even talk about the Garden of Eden because the left laughs it off. Morality, faith, prayer, and concepts of good and evil are all rejected by the left. So they grasp for something on which they can make a principled stand and it is gun control and the erosion of a right the left refuses to recognize in the second amendment.

Secular reporters lament that there are too many guns in America, but they will not admit there is too much moral decay. In fact, they not only revel in the moral decay and defining deviancy as normal and normal as deviant, but they expect the rest of us to do the same. If you uphold natural law or moral law, you are a bigot.

Because they cannot talk about a morality they no longer recognize or the need for a God they long ago rejected, they are forced to insist more laws will solve problems. It is the metaphysical equivalent of the religious believing more prayer will solve problems. When God is traded in for government, prayer gets traded in for law. The more laws there are, the better off we will be because government is our god now.

The left is incapable of solving the problems of racism and mass violence in this country because the only solution they have is more government. And more government just means more sinners in charge and more sinners is never the answer to any problem. But a left that rejects the notion of sin and human depravity is incapable of understanding that and instead lives in a self-created fantasy land where we are born gay or straight, but can decide to become boys or girls, and when straight boy marries straight girl then straight boy decides to become a girl, his born straight wife is a transphobic bigot. People who believe such nonsense will never be able to substantively deal with the horrors of our age.

So gun control is the only solution they will offer.

Gowdy vs Comey

Counterpoint:

Happy Canada Day 2016!

canada_day_mod

While a few years old now, this video from my Highway of Heroes page, is as appropriate on Canada Day as it is on Remembrance Day. This represents the greatness of ordinary, no, not ordinary, extraordinary Canadians. Canadians, who know through their ultimate love of country, what it means to be Canadian.

And why they do what they do and give what they give…

canada-girl

Flag background image courtesy Sudbury.com

Durden: zerohedge.com: “Deutsche Bank Poses The Greatest Risk To The Global Financial System”: IMF

“Deutsche Bank Poses The Greatest Risk To The Global Financial System”: IMF

by Tyler Durden, Jun 30, 2016. Zerohedge.com

Over three years ago we wrote “At $72.8 Trillion, Presenting The Bank With The Biggest Derivative Exposure In The World” in which we introduced a bank few until then had imagined was the riskiest in the world.

As we explained then “the bank with the single largest derivative exposure is not located in the US at all, but in the heart of Europe, and its name, as some may have guessed by now, is Deutsche Bank. The amount in question? €55,605,039,000,000. Which, converted into USD at the current EURUSD exchange rate amounts to $72,842,601,090,000….  Or roughly $2 trillion more than JPMorgan’s.”

So here we are three years later, when not only did Deutsche Bank just flunk the Fed’s stress test for the second year in a row, but moments ago in a far more damning analysis, none other than the IMF disclosed that Deutsche Bank poses the greatest systemic risk to the global financial system, explicitly stating that the German bank “appears to be the most important net contributor to systemic risks.”

Yes, the same bank whose stock price hit a record low just two days ago.

Here is the key section in the report:

Domestically, the largest German banks and insurance companies are highly interconnected. The highest degree of interconnectedness can be found between Allianz, Munich Re, Hannover Re, Deutsche Bank, Commerzbank and Aareal bank, with Allianz being the largest contributor to systemic risks among the publicly-traded German financials. Both Deutsche Bank and Commerzbank are the source of outward spillovers to most other publicly-listed banks and insurers. Given the likelihood of distress spillovers between banks and life insurers, close monitoring and continued systemic risk analysis by authorities is warranted.

Among the G-SIBs, Deutsche Bank appears to be the most important net contributor to systemic risks, followed by HSBC and Credit Suisse. In turn, Commerzbank, while an important player in Germany, does not appear to be a contributor to systemic risks globally. In general, Commerzbank tends to be the recipient of inward spillover from U.S. and European G-SIBs. The relative importance of Deutsche Bank underscores the importance of risk management, intense supervision of G-SIBs and the close monitoring of their cross-border exposures, as well as rapidly completing capacity to implement the new resolution regime.

The IMF also said the German banking system poses a higher degree of possible outward contagion compared with the risks it poses internally. This means that in the global interconnected game of counterparty dominoes, if Deutsche Bank falls, everyone else will follow.

Notwithstanding moderate cross-border exposures on aggregate, the banking sector is a potential source of outward spillovers. Network analysis suggests a higher degree of outward spillovers from the German banking sector than inward spillovers. In particular, Germany, France, the U.K. and the U.S. have the highest degree of outward spillovers as measured by the average percentage of capital loss of other banking systems due to banking sector shock in the source country.

The IMF concluded that Germany needs to urgently examine whether its bank resolution, i.e., liquidation, plans are operable, including a timely valuation of assets to be transferred, continued access to financial market infrastructures, and whether authorities can ensure control over a bank if resolution actions take a few days, if needed, by imposing a moratorium:

Operationalization of resolution plans and ensuring funding of a bank in resolution is a high priority. The authorities have identified operational challenges (e.g., the timely valuation of assets to be transferred, continued access to financial market infrastructures) and are working to surmount them. In some cases, actions to effect resolution may require a number of days to implement, and the authorities should ensure they can maintain control over the bank during this period, including by using their powers to impose a more general moratorium for a specific bank.

Here is the IMF’s chart showing the key linkages of the world’s riskiest bank:

And while DB is number 1, here are the other banks whose collapse would likewise lead to global contagion.

Considering two of the three most “globally systemically important”, i.e., riskiest, banks just saw their stock price scrape all time lows earlier this week, we wonder just how nervous behind their calm facades are the executives at the ECB, the IMF, and the rest of the handful of people who realize just close to the edge of collapse this world’s most riskiest bank (whose market cap is less than the valuation of AirBnB) finds itself right now.