White House Senior Adviser to the President Kellyanne Conway is interviewed by former Clinton White House aide ABC News’ George Stephanopoulos about the current healthcare bills on Capitol Hill.
ABC’s Stephanopoulos is one of the most ardent Democrat party ideologues/operatives within media and this interview is a representative example of how he argues exclusively from a position of ideological advocacy against the Trump administration.
The example above explains the following:
I reported previously that the European Commission is seeking to take the clearing of the Euro derivative transactions from London and move them to Paris. The European Central Bank (ECB) is warning that it must secure strong access rights for the supervision of the cross-border settlement of financial transactions after the departure of Great Britain from the EU. About 90%+ of all euro derivatives transactions are settled via clearing houses in London such as LCH.Clearnet. In the middle of a crisis, the ECB would have no power to shut the market to protect the euro from the free market forces. Of course, what they fail to grasp here is trying to seize the euro clearing and move it by decree to Paris will only undermine the euro even more. What will they do next? Forbid the euro to trade in New York, Chicago, or Asia? Do that and the euro will become a massive short.
The ECB actually came clean and the papers filed at the Commission seems to suggest that the central bank indeed expects the possibility of a very major and serious financial crises ahead. That reflects what I have been warning about that they are trapped. Once Draghi stops buying government debt, we may see a meltdown in the euro altogether. The ECB wrote: “It is to be expected that significant developments on both the global and the European level will increase the risks posed by clearing systems.”
Keep in mind that the European Commission has already outlawed naked short-selling of the sovereign debt and European shares. The ECB is now focusing on clearing houses of financial products to control any emergency they see against the euro. Mario Draghi has been ringing the warning bell that they would have at best minor oversight of the UK-based clearing houses after a BREXIT. He believes they can simply muscle the markets to prevent a collapse.
The ECB estimates that repo transactions denominated in euro in the daily volume of €101 billion and open positions in interest rate swaps in euro reach daily trading volume of €33 trillion are cleared through clearing houses in Great Britain. Draghi has proposed that Article 22 of the ESCB Statute be amended in such a way that, even after the BREXIT, they still have sufficient control rights over euro clearing. Draghi wants it both ways. He wants the euro to be a world class currency, but then wants absolute control to shut down any undesirable counter trends.
There was a widely read Chicago Tribune op-ed written a few days ago outlining an approach to dissolve the entire state and apportion the geography to Wisconsin, Indiana, Kentucky, Missouri and Iowa. –SEE HERE– It was written tongue-in-cheek, but with an uncomfortable level of reality behind it.
Illinois has been struggling with its finances for a long, long time.
The Illinois long-term labor pension liabilities are ridiculous in the extreme. However, things just went from bad to jaw-droppingly, gobsmackingly, unbelievably worse.
According to the latest financial media reports, Standard and Poors Global Ratings agency has positioned Illinois bonds to drop below “investment” grade; that would make Illinois the first state in the nation to achieve “junk bond” status.
(Via ABC) Illinois is on track to become the first U.S. state to have its credit rating downgraded to “junk” status, which would deepen its multibillion-dollar deficit and cost taxpayers more for years to come.
S&P Global Ratings has warned the agency will likely lower Illinois’ creditworthiness to below investment grade if feuding lawmakers fail to agree on a state budget for a third straight year, increasing the amount the state will have to pay to borrow money for things such as building roads or refinancing existing debt.
The outlook for a deal wasn’t good Saturday, as lawmakers meeting in Springfield for a special legislative session remained deadlocked with the July 1 start of the new fiscal year approaching.
That should alarm everyone, not just those at the Capitol, said Brian Battle, director at Performance Trust Capital Partners, a Chicago-based investment firm.
“It isn’t a political show,” he said. “Everyone in Illinois has a stake in what’s happening here. One day everybody will wake up and say ‘What happened? Why are my taxes going up so much?’” (read more)
Ouch !
The leaders of the Senate Judiciary Committee, Chairman Chuck Grassley and ranking member Dianne Feinstein, have officially launched an investigation into former Attorney General Loretta Lynch. Their inquiry surrounds Lynch assuring the Hillary Clinton campaign that the FBI probe into Clinton’s emails wouldn’t go too far.
(Via Politico) The Judiciary panel announced Friday it had sent letters to Lynch and other officials — the opening bid in what Chairman Chuck Grassley (R-Iowa) said last week would be separate investigations into the firing of former FBI Director James Comey and whether the Obama administration attempted to influence FBI investigations. (more)
When people react to questions from a perspective of individual self-preservation they tend to forget their professional obligation to the bigger institutional picture.
Reference Evelyn Farkas on MSNBC for one very visible and specific recent example.
Today we have another unintentional admission thanks to Debbie Wasserman-Schultz and CNN.
Currently, the DNC and left-wing media apparatus writ large, are trying desperately to regain footing on the ‘vast Russian conspiracy narrative’, as specifically evidenced by the Washington Post article published early on Friday.
Included within the exhaustive Post article, and specifically as foundational evidence to support the overall conspiracy, the Washington Post highlights Russian “hacking” of the DNC servers. Here’s an excerpt:
(WaPo) […] Meanwhile, the FBI was tracking a flurry of hacking activity against U.S. political parties, think tanks and other targets. Russia had gained entry to DNC systems in the summer of 2015 and spring of 2016, but the breaches did not become public until they were disclosed in a June 2016 report by The Post. (link)
However, almost simultaneously, in another media format, former head of the DNC, Debbie Wasserman-Shultz, was being questioned about this very issue in the context of former Homeland Security Secretary Jeh Johnson’s recent congressional testimony.
What happens next is almost too funny for words. (see video below)
While attempting to defend her professional qualifications from the accusations of ineptitude, Debbie Wasserman-Shultz ends up calling Jeh Johnson a liar and simultaneously destroys the credibility of the Washington Post article.
Seriously. Watch:
.
“Maybe she can see the Macedonians from her house”…
The European Central Bank (ECB) has announced as of June 23rd, that it was declaring two Italian banks insolvent. Veneto Banca SpA and Banca Popolare di Vicenza SpA have failed since the two banks repeatedly violated the regulatory capital requirements. The determination was made in accordance with Article 18 (1a) and Article 18 (4a) of the Uniform Resolution Mechanism Regulation.
The European banking crisis continues.
Chicago’s police pension fund won’t have enough money to pay benefits to retirees in 2021, according to a projection by Local Government Information Services (LGIS). At the end of 2020, LGIS estimates that the Policemen’s Annuity and Benefit Fund of Chicago will have less than $150 million in assets to pay $928 million promised to 14,133 retirees the following year.
This is the fate of state and local pension funds. There is a storm gathering on the horizon and of course these state and local governments will be raising taxes to try to stay afloat. The system is collapsing and it is totally unsustainable. This is the very same crisis that destroyed the Roman Empire.
Despite having Hollywood, Google, Mainstream Media, and countless violent activists, the Democrats still can’t beat Trump. They just do not comprehend what is going on. There have been four congressional special elections this year where Democrats and Republicans have gone head-to-head. The Democrats have lost every one. Even the Georgia election, which was not a Special election, Ms Handel finished first scoring a win. California does not count for it is just too far to the left to matter anymore.
Nevertheless even Georgia’s election result was devastating to Democrats nationwide, for one would think with all the yelling, protests, and media coverage that is anti-Trump who has low approval ratings, according to the media, the Democrats should be able to win something if Trump is really regarded as being toxic.
When we look at the trend of the Democrats, they have been losing ground since World War II. They have been scoring lower highs and lower lows and this reflects a BEAR MARKET. This is part of the collapse in socialism coming because they just do not get it. The average person has been losing lifestyle ever since. The Gallup Poll has reported that 44% of Americans believe it is likely that today’s youth will have a better life than their parents. This has declined even since the 2007-2009. In fact, this is the lowest on record for a trend dating back to 1983.
You just can’t keep raising taxes and yelling about the rich. Raising taxes on the rich has NEVER lowered anyone else’s taxes or improved the life of the poor even once.
The lies are coming home. People like Hillary can pretend she cares about the poor, but she fills her pockets to the brim. People are waking up to reality. We are at record highs for children in their 30s still living with their parents.
The French elections saw something astonishing. Le Pen beat every mainstream party. Put this is American terms, imagine an election where the Republican and Democrats cannot even make it to the elections.
Junk Science is the real crisis we face as so many people think that Global Warming is caused by man and Co2. Of course, those who really believe this is the problem that will destroy the world perhaps should just commit suicide and take the dog with them. Since we exhale Co2 that would reduce the problem in their mind and save the world by setting a good example.
Junk Science plagues us in every field of science be it economics to health. For 25 years we were told that eggs are bad. How many people ordered egg whites only. Then the Junk Science was revised, but after 25 years, nobody noticed. When scientists learned that high blood cholesterol was associated with heart disease, they immediate black-listed all foods with high cholesterol content. It took 25 years of study to figure out – oops, we were wrong! You just didn’t really hear the “oops we were wrong” but instead you heard of another great danger – saturated fat! It became evident that cholesterol in food by itself was not the culprit after all — the real great evil was saturated fat, This is what had a much bigger effect on blood cholesterol when it was discovered that full-fat dairy products and fatty meats are loaded with saturated fat and that triggers the body to produce cholesterol.
This is the problem with analysis. The can conclude that everyone who has eaten a carrot eventually dies. That is an absolutely correct statement. They study one component and draw a correlation and thus produce the definitive relationship. They did that with interest rates. Higher rates means the stock market will decline. Oops. The Fed just raised rates and the Dow made a new high. Interesting! See it is the carrot paradox.
In economics, we had the Quantity of Money Theory that has driven central banks into Quantitative Easing expecting inflation and after 10 years of desperately trying to stimulate inflation, they have been beaten to a pulp by deflation. As always, they make a false simple assumption at the outset which then leads to the false result. They also fail to comprehend that there is the contraction within the economy creating deflation from technology advances. The work force is stagnant and unless they stay current with technology, they will quickly find themselves UNEMPLOYABLE with no useful skills.
[…] John Anzalone, Ossoff’s pollster, said the Democrat’s campaign succeeded in turning out its voters — but they were swamped by Republicans who came out in numbers that ended up dwarfing previous high-profile special elections (link)
That’s a very interesting admission/statement for a Politico article. That’s also an example of what happens when President Trump’s ‘Monster Vote‘ turns out.
(Politico) Jon Ossoff was on a trajectory to defeat Karen Handel narrowly, poised to deliver a humiliating blow to the White House in a race billed as a referendum of Donald Trump’s early months in office. Then the Republican voters in Georgia’s 6th Congressional District unexpectedly showed up in droves.
Pollsters say sky-high turnout drove Handel, the GOP nominee, to a nearly 4-point victory on Tuesday, despite most pre-election surveys showing Ossoff with a small-but-shrinking lead.
[…] Unlike in some other races, however, it wasn’t because Democratic voters didn’t show up. More than 259,000 votes have been tallied as of Wednesday afternoon, considerably more than the 193,000 votes in the first round of voting in April. (read more)
If you are wondering why the media seems to have begun waffling on their ‘muh Russia conspiracy’ narrative in the last 48 hours, those GA vote turnout results are the reason.
It is beginning to sink in with the moonbats that the rest of the entire nation can see the ridiculous construct of their moonbattery. The majority of America is laughing at them. The majority of America supports the common sense principles President Trump is fighting for.
When the Democrats combine the ideological drumbeat of their left-wing moonbat leadership with the manipulative intentions of moonbat media pollsters, it becomes only a matter of time before the atomic sledgehammer of reality crushes their tenuous echo-chamber.
This seemingly never-ending cycle of moonbattery continues.
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