History Repeating

Japanese Troops Storm California Beach as Marine Power Eyed

"A thousand Japanese troops have been learning how to recapture territory in the face of enemy fire. While the shoreline may be California, the skills they are building could one day be used closer to home. The two-week 'Dawn Blitz' joint drills in June saw a Japanese Self-Defense Force ship launching a hovercraft designed to carry troops and heavy weaponry that roared onto the beach. The operations reflect the ruling Liberal Democratic Party’s interest in developing a Marine corps to counter what Prime Minister Shinzo Abe’s government says are Chinese attempts to change the status quo in maritime disputes." Continue reading →

Continue ReadingJapanese Troops Storm California Beach as Marine Power Eyed

Japan Resorts To Teenage Girls In Short Skirts To Get Their Stocks Up

"To get an idea of how Japan's prime minister, Shinzo Abe, is faring in his quest to lift his country out of two decades of stagnation, look no further than the skirts of the girl group Machikado Keiki Japan. The band, whose name translates roughly as 'street corner economic conditions', became a bellwether for the health of the world's third biggest economy earlier this year when they promised to shorten their skirts every time the country's stock market made significant gains. Their debut single, Abeno Mix – complete with unlikely singalong references to quantitative easing and construction bonds – takes its cue from Abenomics." Continue reading →

Continue ReadingJapan Resorts To Teenage Girls In Short Skirts To Get Their Stocks Up

U.S. to deliver F-16 fighters to Egypt despite recent upheaval

"The United States is pressing ahead with plans to deliver four F-16 fighters to Egypt despite a military coup against President Mohammed Morsi. 'It’s still the status quo,' the official, who spoke on condition of anonymity, told AFP. There was no decision to halt the scheduled transfer of the warplanes or to cut off other security assistance to Egypt, the official said, even though the US government has announced a review of all aid to Cairo. The State Department said previously planned assistance would continue to flow to Egypt. 'We’re still paying our bills, of course, and all of the programs are still moving forward,' spokeswoman Jen Psaki told reporters." Continue reading →

Continue ReadingU.S. to deliver F-16 fighters to Egypt despite recent upheaval

Japan Government To Change Inflation Calculation Ushering In Even More BOJ Liquidity

"The official explanation for this upcoming adoption of core-core-CPI which also excludes energy prices in addition to fresh food costs (as core CPI does everywhere else in the world) is to 'raise the bar' on Abe's inflation goal. In reality, it will simply grant the BOJ unlimited ammo to continue injecting liquidity indefinitely because absent exploding energy costs (as we have discussed), inflation in Japan is quite dormant. But what will really happen is that inflation will merely become just one more governmentally-determined and goalseeked economic indicator and policy tool, as it is in the US and China." Continue reading →

Continue ReadingJapan Government To Change Inflation Calculation Ushering In Even More BOJ Liquidity

Berlin Wall to host exhibit on the world’s tensest borders

"'It’s always a problem — in November I hung a portrait of the US wall in Mexico here and an American came by and shouted at me, ‘You can’t compare this.’ But for me, it doesn’t matter if it’s a religious, national or economic conflict — the idea that you have a problem and you can solve it by building a wall has simply been obsolete since 1989.' Wiedenhoefer said the bleak, often heavily militarised ramparts against illegal immigration, like the US fence on the Mexican border and around the Spanish enclaves of Ceuta and Melilla in Morocco, or along religious lines such as in Baghdad and Belfast, were tragic testaments." Continue reading →

Continue ReadingBerlin Wall to host exhibit on the world’s tensest borders

Why did Charlie Chaplin renounce the America which made him world-famous?

"'It is not easy to uproot myself and my family from a country where I have lived for 40 years without a feeling of sadness. Since the end of the last world war, I have been the object of lies and vicious propaganda by powerful reactionary groups who by their influence and by the aid of America’s yellow press have created an unhealthy atmosphere in which liberal-minded individuals can be singled out and persecuted.' - Williamson Daily News – April 22, 1953" Continue reading →

Continue ReadingWhy did Charlie Chaplin renounce the America which made him world-famous?

Herbert Spencer: Patriotism (from Facts and Comments, 1902)

"Were anyone to call me dishonest or untruthful he would touch me to the quick. Were he to say that I am unpatriotic, he would leave me unmoved. 'What, then, have you no love of country?' That is a question not to be answered in a breath. [...] To me the cry – 'Our country, right or wrong!' seems detestable. By association with love of country the sentiment it expresses gains a certain justification. Do but pull off the cloak, however, and the contained sentiment is seen to be of the lowest. Let us observe the alternative cases." Continue reading →

Continue ReadingHerbert Spencer: Patriotism (from Facts and Comments, 1902)

White House dodges questions of Egyptian ‘coup’ as military aid continues

"The Obama administration attempted to sidestep questions over the legality of military aid to Egypt on Monday, claiming it was not in its 'best interests' to decide yet whether the armed overthrow of the country’s elected president amounted to a coup or not. US law prevents any administration providing support to the leaders of a military coup, but the White House announced it will not suspend foreign aid to Egypt for now, pending further review. 'We have had a long relationship with Egypt and the Egyptian people and it would not be wise to abruptly change our assistance programme,' said spokesman Jay Carney." Continue reading →

Continue ReadingWhite House dodges questions of Egyptian ‘coup’ as military aid continues

US – Sri Lankans “Asked” to Register with their Banks — What if they don’t do so voluntarily?

"This newspaper notice was placed in a Sri Lankan newspaper last month by the Sri Lanka Banker’s Association, requesting the voluntary ‘registration’ of U.S. Persons with their banks to facilitate the identification of U.S. Persons under FATCA. The voluntary registration was, apparently, not required by the Sri Lanka Central Bank, and Sri Lanka has not (yet) publicly signed an IGA or waived Sri Lankan banking secrecy to allow banks to directly enter into agreements with the IRS. Certainly, the notice for voluntarily registering oneself harkens back to 1939 for some of us, and exemplifies the positive discrimination that FATCA requires." Continue reading →

Continue ReadingUS – Sri Lankans “Asked” to Register with their Banks — What if they don’t do so voluntarily?

Keynesians Use Thomas Edison’s Advice For Destruction

"Thomas Edison is known to have said the following: 'I have not failed. I've just found 10,000 ways that won't work.' Unfortunately, instead of Keynesians admitting defeat (like they should have at least 40 years ago) they're gonna go all Thomas Edison on us. This 'experiment' turns out to be nothing new at all, but the same old same old. So welcome Japanese citizens to the world of being a lab rat. We Americans have been poked and prodded ourselves for many years, and appreciate your company. Failed ideas die hard (e.g. Marx's ideas died hard). Unfortunately, the mad scientist Keynesians will refuse to give up until economic law forces them." Continue reading →

Continue ReadingKeynesians Use Thomas Edison’s Advice For Destruction