Civilization or tribal rule

Choose one.

As for me, I won’t even hesitate to take Chopin, Wagner, Tchaikovsky, and Liszt. Understand that this is a war against Christianity, America, and Western civilization. Choose wrong, and forget classical music, you won’t even have flush toilets.

Mailvox: the wolves are not new

Even if the Apostle Paul hadn’t warned us about the dangers of false “Christian” leaders infiltrating the flock, William Bradford, the first governor of Plymouth colony, did in his book Plymouth Plantation:

In Chapter Five, Bradford discusses a minister named John Lyford who arrived a few years after Plymouth was founded. Lyford was the textbook example of an SJW.

He immediately sought to become a church member upon arrival and after that started defending “delinquents” in the colony while holding secret meetings and spreading gossip. His plan of course was to divide the community and start a separate church he would control.

He was caught sending slanderous letters to England about people in the colony, on top of intercepting his own friends’ letters and annotating them before resealing them. Like a true social justice warrior, Lyford lied and denied he wrote the letters until they were produced. He then engaged in theatrical displays of repentance and pleas for forgiveness to the point where he generated sympathy among colony members – only to secretly write letters to England defending his behavior.

It is then that Lyford’s wife reveals to Bradford her husband’s history back home in England and Ireland as a pathological liar and philander to the point where she couldn’t have a female servant in the house because he slept with all the others. This was on top of lying to her about fathering a bastard child prior to their marriage. Then men from England report to Bradford that while “counseling” a young man contemplating marriage, Leyford met the girl in private and raped her, who later married the young man without telling him until afterwards.

Bradford writes that after they expelled him from Plymouth, Lyford proceeded to abandon all his friends that still stuck with him and died shortly afterwards in Virginia.

There’s a reason why St. Paul and other apostles warned about false teachers in their letters.They have been a threat to the church since the beginning, anywhere a group of Christians gather. What we’re experiencing today is not unique. The question is whether a body of believers under attack or being infiltrated are led by strong men with the moral courage to identify, confront, and cast the wolves out, or cowards who have exchanged truth for niceness.

Predators not only go where the prey is, they have a very finely attuned understand of how to go about putting themselves in position to obtain it. Always be very, very dubious of any enthusiastic new member who is extremely helpful and assiduously pursues leadership and other positions of influence.

The Puritans had the sense to expel this predator. Unfortunately, and despite the Biblical admonition, most modern churches won’t expel anyone, not for adultery, not for abortion, and not for axe-murdering.

Suddenly, for no reason at all….

Not content with attacking the 1st Amendment, Neopalestinians in Congress are now seeking to give Israel a veto over U.S. arms sales:

A bipartisan bill introduced in the House of Representatives would enhance protections for Israel’s qualitative military edge to include an effective Israeli veto on US arms sales to the Middle East.

The bill “would require the President to consult with the Israeli government to ensure [qualitative military edge] concerns are settled” when it comes to arms sales to Middle Eastern countries, said the news release Friday announcing its introduction the previous day. The release came from the office of the bill’s lead sponsor, Rep. Brad Schneider, D-Ill.

Existing law already guarantees Israel a qualitative military edge in the Middle East, but Congress — not Israel — is the arbiter of whether an arms sale meets QME standards.

Do they not truly understand that this sort of machination is going to fill the average American with the hitherto undiscovered desire to sell nukes to Hamas and Iran? Or is it that they do not care?

The stupidity and short-sightedness is relentless.

The banks SHOULD collapse

Whether the US government will permit them to go under, or whether it will attempt to kick the can further into the future like it did in 2008, is the only real question. This is a very good article on The Atlantic addressing how the banks have changed their debt-drug of choice from Collateralized Debt Obligations to Collateralized Loan Obligations. To translate that into English, the U.S. banking system has replaced its fragile foundation of homeowner debt with corporate debt:

After the housing crisis, subprime CDOs naturally fell out of favor. Demand shifted to a similar—and similarly risky—instrument, one that even has a similar name: the CLO, or collateralized loan obligation. A CLO walks and talks like a CDO, but in place of loans made to home buyers are loans made to businesses—specifically, troubled businesses. CLOs bundle together so-called leveraged loans, the subprime mortgages of the corporate world. These are loans made to companies that have maxed out their borrowing and can no longer sell bonds directly to investors or qualify for a traditional bank loan. There are more than $1 trillion worth of leveraged loans currently outstanding. The majority are held in CLOs.

Just as easy mortgages fueled economic growth in the 2000s, cheap corporate debt has done so in the past decade, and many companies have binged on it.

I was part of the group that structured and sold CDOs and CLOs at Morgan Stanley in the 1990s. The two securities are remarkably alike. Like a CDO, a CLO has multiple layers, which are sold separately. The bottom layer is the riskiest, the top the safest. If just a few of the loans in a CLO default, the bottom layer will suffer a loss and the other layers will remain safe. If the defaults increase, the bottom layer will lose even more, and the pain will start to work its way up the layers. The top layer, however, remains protected: It loses money only after the lower layers have been wiped out.

Unless you work in finance, you probably haven’t heard of CLOs, but according to many estimates, the CLO market is bigger than the subprime-mortgage CDO market was in its heyday. The Bank for International Settlements, which helps central banks pursue financial stability, has estimated the overall size of the CDO market in 2007 at $640 billion; it estimated the overall size of the CLO market in 2018 at $750 billion. More than $130 billion worth of CLOs have been created since then, some even in recent months. Just as easy mortgages fueled economic growth in the 2000s, cheap corporate debt has done so in the past decade, and many companies have binged on it.

Despite their obvious resemblance to the villain of the last crash, CLOs have been praised by Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin for moving the risk of leveraged loans outside the banking system. Like former Fed Chair Alan Greenspan, who downplayed the risks posed by subprime mortgages, Powell and Mnuchin have downplayed any trouble CLOs could pose for banks, arguing that the risk is contained within the CLOs themselves.

These sanguine views are hard to square with reality. The Bank for International Settlements estimates that, across the globe, banks held at least $250 billion worth of CLOs at the end of 2018. Last July, one month after Powell declared in a press conference that “the risk isn’t in the banks,” two economists from the Federal Reserve reported that U.S. depository institutions and their holding companies owned more than $110 billion worth of CLOs issued out of the Cayman Islands alone. A more complete picture is hard to come by, in part because banks have been inconsistent about reporting their CLO holdings. The Financial Stability Board, which monitors the global financial system, warned in December that 14 percent of CLOs—more than $100 billion worth—are unaccounted for.

I have a checking account and a home mortgage with Wells Fargo; I decided to see how heavily invested my bank is in CLOs. I had to dig deep into the footnotes of the bank’s most recent annual report, all the way to page 144. Listed there are its “available for sale” accounts. These are investments a bank plans to sell at some point, though not necessarily right away. The list contains the categories of safe assets you might expect: U.S. Treasury bonds, municipal bonds, and so on. Nestled among them is an item called “collateralized loan and other obligations”—CLOs. I ran my finger across the page to see the total for these investments, investments that Powell and Mnuchin have asserted are “outside the banking system.”

The total is $29.7 billion. It is a massive number. And it is inside the bank.

You’ll note that I correctly predicted this year’s economic crash… although the financial aspect has yet to show up despite an economic contraction of nearly one-third. The CLO meltdown is how the economic crash is most likely to translate to the inevitable financial crash, whether it happens before or after the end of the calendar year.

Solving a philosophical riddle

We now know the answer to whether a tree that falls in the forest makes a sound, as according to the media, things only happen when they happen to Hellmouth celebrities on camera:

Horrifying moment stranger in an ‘I love NY’ hoodie punches 67-year-old, 5ft 5in Ghostbusters star Rick Moranis, 67, in the head in unprovoked attack in New York. Hollywood star Rick Moranis, 67, was walking on New York City’s Upper West Side on Thursday around 7.30am when he was attacked. Surveillance footage captures a stranger walking past him abruptly punching Moranis in the head, knocking him to the ground.

It was a stranger. A stranger in a hoodie. We don’t know anything else about the stranger, or what could possibly have this stranger inspired to punch a Hollywood star unprovoked.

It is a mystery.

TDR on steroids

And to think they accuse US of being conspiracy theorists. Democrats don’t know whether to celebrate or batten down the hatches in the face of reports of President Trump’s infection with the coronavirus.

I don’t think he has it either. But I believe he knows he’s going to lose, then he’ll face the rest of his life in prison. I think he’s preparing to make a run for it to a country that doesn’t have an extradition treaty with the US. I think he’s been shifting campaign funds to offshore accounts for quite a while.

Sounds credible, right?

Converged collapse

Case Study: NBA

The NBA took another L Wednesday. This time, in the NBA Finals on ABC with the Lakers and LeBron James. Only 7.41 million viewers watched the industry-hyped matchup. Per Sports Media Watch, this is the least-watched Finals opener since … on record.

Game 1 is down an unheard of 44{5274a41d3bd2aa3d5829764fe19e8a7ecbc79c108731aad5f1ff2d292e60e2b4} from last year’s matchup, which featured a team from Canada. During last year’s Finals tank-job, media members yelled “one team is from Canada,” and “there is no LeBron.”

The NBA is taking tanking to never-before-seen depths. If LeBron and the Lakers in the Finals can’t save this collapse — nothing will. This is the best-case scenario. Imagine these numbers when the Nuggets finally win the West and the media has to push that over the NFL.

Compared to 2018, the last Finals with LeBron, Game 1 is down 58{5274a41d3bd2aa3d5829764fe19e8a7ecbc79c108731aad5f1ff2d292e60e2b4}. That kind of slide is what gets TV shows canceled and showrunners chased out of the business.

Usually it takes ten years for a converged company to lose 50 percent of its audience. The NBA has managed to do it in two.

The President defends the SEALs

And now that he’s in quarantine, he’ll have plenty of time to prepare lots of big, beautiful executive orders:

The Navy has removed gendered words from its official SEAL ethos, changing them to ‘citizen’ and ‘warrior’. Alterations have also been made in the Special Warfare Combatant Crewmen (SWCC) creed, American Military News reports.

One change in the first paragraph of the SEAL ethos now reads: ‘I am that warrior.’ It had read: ‘I am that man.’ Another states: ‘Common citizens with uncommon desire to succeed.’ That did say: ‘A common man with uncommon desire to succeed.’

In the ethos, ‘The ability to control my emotions and my actions, regardless of circumstance, sets me apart from other men’ has been changed to ‘the ability to control my emotions and my actions, regardless of circumstance, sets me apart from others’.

And ‘brave men’ has been amended to read ‘brave SEALs.’

In the SWCC creed ‘brotherhood’ was switched to a ‘group of maritime warriors.’ In another sentence ‘brothers’ in changed to ‘them’.

In a tweet responding to the news, the president wrote: ‘I will be overturning this ridiculous order immediately!’

I wouldn’t worry about the Covid-19. Yes, the President is old and he’s not exactly trim, but I tend to suspect there may be other reasons he’s withdrawing from the public eye at the moment.

The thought police hit pro cycling

This is why it’s time to bring back the blasphemy laws. Free speech was always a false flag flown by the Jesus-hating Children of the Lie:

Team Trek-Segafredo has suspended 19-year-old Quinn Simmons for what it’s calling “divisive” comments. There were apparently two tweets that sent Team Trek-Segafredo over the edge, including a tweet where Simmons wrote “bye” and included a dark-skinned waving emoji on a tweet from Dutch journalist Jose Been that read “If you follow me and support Trump, you can go.”

In another tweet, Quinn responded, “that’s right [American flag icon]” to a guy who determined Quinn to be a “Trumper.” 

And it is officially ON in the world of cycling. People are picking their sides and the woke cycling community is full of rage towards Quinn, who won the 2019 world junior road race championships.

“Trek-Segafredo is an organization that values inclusivity and supports a more diverse and equitable sport for all athletes,” the team said in a statement. “While we support the right to free speech, we will hold people accountable for their words and actions.

“Regrettably, team rider Quinn Simmons made statements online that we feel are divisive, incendiary, and detrimental to the team, professional cycling, its fans, and the positive future we hope to help create for the sport.

“In response, he will not be racing for Trek-Segafredo until further notice.

If someone supports Biden or BLM or the ADL or any other Promethean project, eject them without hesitation. Don’t think twice, just do it. They have made it perfectly clear that there is no place in their society for us, which means there is no place in our society for them. 

Think about it: all this young man did was support the current President of the United States of America. If that is beyond the pale, what isn’t?