Law, Order, and Trump

 The Republican candidate supported police and expressed concern about the growing homicide toll in black neighborhoods—in contrast with his opponent.

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Black Lives Matter helped propel Donald Trump’s unforeseen ascent to the White House. The public understood the threat to law and order posed by the movement’s calumnies <http://www.washingtonexaminer.com/black-lives-matter-is-based-on-a-lie/article/2600164>  about the nation’s police—and so, uniquely in the presidential race, did Trump. Trump repeatedly promised to end what he rightly called the “false narrative <http://heavy.com/news/2016/08/read-full-transcript-donald-trump-transcript-law-and-order-speech-west-bend-wisconsin/> ” about the police that was leading to rising homicides and urban riots. During the first presidential debate <https://www.washingtonpost.com/news/the-fix/wp/2016/09/26/the-first-trump-clinton-presidential-debate-transcript-annotated/>  with Hillary Clinton in September 2016, Trump correctly <https://www.washingtonpost.com/news/volokh-conspiracy/wp/2016/07/20/the-ferguson-effect/>  pointed out that “right now, our police, in many cases, are afraid to do anything.” In his acceptance speech at the Republican National Convention in July, Trump announced: “I have a message for all of you: the crime and violence that today afflicts our nation will soon come to an end. Beginning on January 20th 2017, safety will be restored.” He then articulated a foundational principle of civil society: “The most basic duty of government is to defend the lives of its own citizens. Any government that fails to do so is a government unworthy to lead.”

 

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Tip of the Iceberg: Russian Use of Power in Syria

 

EXECUTIVE SUMMARY: The Russians are determined to reacquire some of the status once enjoyed by the Soviet Union of yore. They believe Western carelessness is to blame for the rise of Islamic State, and are using the Syrian theater to demonstrate their strategic capability.

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Russia’s status in the Middle East has changed remarkably in recent years. Some go so far as to argue, with some justification, that it has become the most powerful superpower in the region, or at least within the context of the Syrian conflict. The main reason for this has been Russian President Vladimir Putin’s ability to invest significant resources in the region, coupled with his willingness to take significant risk.

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Financial ‘bread & circuses’ and the approaching Global fiscal storm

As the Financial Circus continues today, pushing down the precious metals prices, millions of Americans are going to get wiped out when the collapse of U.S. net worth begins in earnest. Anyone with a bit of common sense must realises that the financial markets today are totally disconnected from reality.

With new stories of 40 million Russians to take part in “Nuclear Disaster” drill, the Philippine President telling President Obama “To Go To Hell”, and suggesting that he is buying weapons from Russia, U.S. Suspends Diplomatic Relations With Russia based on the mess that is Syria, U.S. Ends Fiscal 2014 With $1.4 Trillion Debt Increase the third largest in history, Deutsche Bank troubles raise fear of global shock, so it’s completely ‘mysterious’ that the gold and silver prices are falling. Surely this is totally contrary to normal financial orthodoxy?

With 90% of the U.S. media now in control by six large mega-corporations, Americans have no idea just how bad the U.S. financial system has become. News stories today that would have caused a stock market crash and a spike in the precious metals years ago… no longer are a realistic barometer of the market today. Instead, the broader Stock, Bond and Real Estate Markets where 99% of Americans are invested, continue to be propped up.

How propped up? Well, let’s say by a staggering $31 trillion in the past six years. According to the wonderful folks at the Federal Reserve, U.S. net worth increased from $57.9 trillion Q2 2010, to a stunning $89 trillion Q2 2016:

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The Flight 93 Election

 

2016 is the Flight 93 election: charge the cockpit or you die. You may die anyway. You—or the leader of your party—may make it into the cockpit and not know how to fly or land the plane. There are no guarantees.

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Except one: if you don’t try, death is certain. To compound the metaphor: a Hillary Clinton presidency is Russian Roulette with a semi-auto. With Trump, at least you can spin the cylinder and take your chances.

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The EU Rot sets in: The Full Details Behind Italy’s Monte Paschi’s €5 Billion Bail Out

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After the close on Friday, the European Banking Authority did what it does every other year: it released the results of what it calls a “stress test” which is simply an annual exercise in boosting confidence. Case in point, the 2016 edition did not even “test” for Europe’s two biggest threats, namely negative interest rates or “Brexit.” It also did not test any banks from Greece or Portugal, knowing well what the results would have been. However, in order to retain some credibility, the same test which in previous years passed such failed institution as Dexia, Bankia and Novo Banco, had to fail one bank, and this year the honors fell to Italy’s Monte Paschi a bank that goes back to before Columbus sailed to the Americas.

However, as we reported earlier on Friday, the EBA only failed Monte Paschi after the bank announced it had obtained a private bailout from a consortium of banks. The Monte Paschi bailout, a €5 billion capital increase, was unique in several ways, not least representing 5.6x BMPS’s market cap.

In a nutshell, the plan can be summarized in the following three steps:

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