Can the pound reach parity versus the dollar? It’s now a one-in-four chance when it comes to options pricing.
The UK currency is heading for its biggest daily loss since early May after Chancellor of the Exchequer Kwasi Kwarteng outlined the government’s plans to stimulate the economy with tax cuts and spending. The simultaneous sharp sell off in Gilts [historical term for UK government bonds – LP] suggests that tackling inflation will be a very hard task for UK authorities and that the currency market sees no easy way out for the Bank of England.
To attract foreign investors, a weaker pound may be the answer and that is what FX traders are betting on.
Cable fell as much as 2.1% to touch $1.1021, the lowest since March 1985, and was at $1.1036 as of 12:38pm in London. Risk reversals, a barometer of market positioning and sentiment, show that traders see the greatest downside risks for the pound over the medium term in two years.
According to Bloomberg’s options pricing model, the pound holds a 26% chance of touching parity versus the greenback in the next six months. That compares to a reading of 14% Thursday.
I think the real odds are probably higher than that.
Dollar-pound parity is something that’s never happened, with the nearest it came to some 1.05 dollars to the pound in the mid-1980s. But there’s always a first time for everything, and with the Bank of England doing more quantitative easing and the UK government going on a spending spree during soaring inflation while the Fed ratchets up interest rates, now is as good a time as any.
Besides making imports from the UK less expensive, what effects will dollar-pound parity have on the financial world? Hard to say for sure, but my prediction is: Weird things.
There are a variety of reasons for this, starting with the fact that currency trading is itself a weird thing. You may think “American financial houses buy pounds to purchase English goods, while UK financial houses buy dollars to purchase American goods,” but there’s a whole ecology of counter-party trades, hedging strategies, currency reserve requirements, portfolio balancing, and a host of other considerations.
Here’s a brief video that cover some of the basics for how brokerages handle FX trading:
That’s a fairly streamlined view, as it doesn’t cover how liquidity pools are set up, different hedging strategies, etc.
There are even traders who specialize in just trading different duration T-Bills, selling the eight-week-out and buying the four-week-out (or vice versa) for esoteric arbitrage reasons.
None of that will change if the market hits dollar-pound parity. So where’s the danger? That comes from the possible non-linear effects of the market doing something that a lot of algorithmic instrument designers never considered a possibility.
For a simple example, let’s talk about the swaps cases. To summarize a whole lot of very complex cases, a whole bunch of local UK governments entered into interest rate swap agreements. Interest rate swap agreements are a legitimate hedging strategy to minimize exposure to interest rate swings, but a few municipalities saw it as a license to print money. To quote Wikipedia, the source of all vaguely accurate knowledge:
The position of Hammersmith and Fulham London Borough Council was quite different from most of the other local authorities. From about 1985 onwards Hammersmith had entered into interest rate swap transactions on an extremely large scale. At one stage it was calculated that Hammersmith was a counterparty to 0.5% of the global trade in swaps, and 10% of the sterling denominated trade. Moreover, quite exceptionally, all of Hammersmith’s positions in the swap market were betting on a fall in interest rates. Most large participants in the swap market have their exposure balanced by taking positions on both sides and across multiple currencies, but Hammersmith was essentially repeatedly entering into one-way bets that sterling interest rates would fall; a bet that they would end up losing spectacularly when interest rates climbed from around 8 per cent to 15 per cent in the space of ten months.
This was, to put it in technical terms, “a really fucking stupid thing to do.” The swaps cases were unwound with great expense and difficulty, and various English banks ended up taking a bath (which you know they must have regarded as some sort of diabolical violation of the natural order) after courts determined that the authorities in question didn’t have the authority under English law to enter into such agreements.
The possibility that interests rates can rise should be an obvious one. But the idea that the pound might be worth less than the dollar is one that people have probably thought about a good deal less, since it hasn’t happened ever. It’s quite possible it hasn’t been contemplated in some percentage of the trillions in derivatives markets and hedging instruments around the world.
For many financial systems, this is going to be an untested use case. Some systems may work just fine, others may break down, and still others may experience race conditions or cascading failures; think of the flash crash of 2010, or the 1987 Black Monday crash. Somewhere, somehow, something is likely to go off the rails.
Hopefully, whatever does blow up won’t be big enough to take down the entire market, or at least not for long. Hopefully it won’t uncover massive problems like the 2008 subprime meltdown uncovered, and there won’t be a firm of systemic importance like AIG was there.
The Pennsylvania House voted Tuesday to hold Philadelphia District Attorney Larry Krasner in contempt for refusing to comply with a subpoena issued by a legislative committee searching for grounds to impeach him.
The chamber voted 162 to 38 — with support from 10 Philadelphia Democrats — to approve the resolution holding the city’s top prosecutor in contempt, a highly unusual move that even the measure’s sponsor told House colleagues he’d never seen before.
State Rep. John Lawrence — a Republican who represents parts of Chester and Lancaster Counties and chairs the select committee investigating Krasner — said the DA had “willfully neglected” the subpoena and was treating it like “a worthless piece of paper.”
“According to DOJ whistleblowers, Facebook has been spying on Americans’ private messages and reporting them to the FBI if they express ‘anti-government or anti-authority’ statements – including questioning the legitimacy of the 2020 US election.” More: “It was done outside the legal process and without probable cause,” said one of the whistleblowers, who spoke on condition of anonymity. “Facebook provides the FBI with private conversations which are protected by the First Amendment without any subpoena. According to one Post source, ‘They [Facebook and the FBI] were looking for conservative right-wing individuals. None were Antifa types.'”
Anyone with even the slightest knowledge of the state of the American academy today knows that employment discrimination runs rampant on campus. Not the old-fashioned kind where women, blacks, Jews, Catholics, Asians, gays, or communists were excluded from employment opportunities, but the modern Kendian variety, in which overt discrimination against white men (and, in many disciplines, Asian men as well) is embraced as official university policy and as a necessary part of being “antiracist.”
As Mark Perry has documented in hundreds of complaints he has filed with the Department of Education’s Office for Civil Rights, such “discrimination for the ‘right’ reasons” is as common on campuses today as empty Red Bull cans. Nor does anyone with any actual knowledge of employment law dispute that such overt and intentional sex and racial discrimination is patently illegal under federal law, and usually state law as well.
Why is this so? If such “no white / Asian guys need apply” practices are clearly illegal, how have they been allowed to not only stand but spread to all corners of campus?
Part of the reason is that under Grutter and Fisher II, the Supreme Court gave universities the benefit of the doubt when using racial and other demographic characteristics in admissions decisions. Rather than use race sparingly in admissions decisions, and in the narrow, surgical method the Supreme Court envisioned, universities instead have taken those decisions as a mandate to do whatever they want in not only admissions, but also employment and other areas.
Indeed, as I have noted before, university administrators often admit to overt discriminatory reasons for their DEI employment initiatives (e.g., the need to provide “role models”), despite the fact that the Supreme Court rejected such reasons as illegal decades ago. (Such abuse of the limited leeway the Supreme Court gave universities in admissions decisions is why many observers are predicting that the Supreme Court will end it in the upcoming term, when it decides cases challenging admissions practices at Harvard and the University of North Carolina.)
However, the main reason for the ubiquity of such practices is that only people who are, in fact, victims of such discriminatory practices have standing to sue to stop them. Leaving aside the serious economic challenges of litigating such a suit against a wealthy university, what would happen if you actually did so? E.g., “I exceed the posted qualifications for a tenure-track position at Enormous State University, but ESU’s official policy is that only BIPOC candidates are eligible for the position. As a white [or Asian] man I am ineligible for the position because of my race, and so I am suing ESU for racial discrimination in employment.”
In the woke monoculture that pervades most campuses today, being known as someone who took legal action to challenge a DEI initiative would render you radioactive and unemployable, not only at ESU but across most of the American academy. And even if you prevail in your lawsuit, you would thereafter be known as the guy who got an “antiracist” affirmative action employment program shut down. Given what the campus cancel culture mobs have done to people like Dorian Abbot who merely question the legality or morality of such programs, what do you think they will do to someone who actually succeeds in having them declared illegal? Ask Allan Bakke.
With universities perceiving no real risk of being sued, and with the Biden administration having about the same interest in neutrally enforcing federal discrimination law as it does in securing the southern border, university administrators know there is no serious risk to giving in to the demands of “antiracist” activists for official, overt discrimination against white and Asian men. That many state officials (including some red-state officials such as Texas Governor Greg Abbott) are too cowardly to do anything to resist the campus wokesters further compounds the problem. Like the days of Mob-controlled garbage collection in New York City, university administrators can say, “Yeah, what we’re doing is illegal. Whaddya gonna do about it?”
But just as the law eventually destroyed the Mob’s garbage cartels in the Big Apple, the law may finally be coming for the overt employment discrimination practiced on most campuses today. The form of the destructor may be a test case filed on September 10: Lowery v. Texas A&M University System.
As described in the complaint:
8. The Texas A&M University System, along with nearly every university in the United States, discriminates on account of race and sex when hiring its faculty, by giving discriminatory preferences to female or non-Asian minorities at the expense of white and Asian men. This practice, popularly known as “affirmative action,” has led universities to hire and promote inferior faculty candidates over individuals with better scholarship, better credentials, and better teaching ability.
9. These race and sex preferences are patently illegal under Title VI and Title IX, which prohibit all forms of race and sex discrimination at universities that receive federal funds. But university administrators think they can flout these federal statutes with impunity because no one ever sues them over their discriminatory faculty-hiring practices and the Department of Education looks the other way.
10. These discriminatory, illegal, and anti-meritocratic practices have been egged on by woke ideologues who populate the so-called diversity, equity, and inclusion offices at public and private universities throughout the United States. The existence of these offices is subverting meritocracy and encouraging wholesale violations of civil-rights laws throughout our nation’s university system.
Specifically, the complaint avers that in July 2022, Texas A&M’s “office for diversity” announced a program for hiring professors that was limited to members of “underrepresented groups,” which it defined as “African Americans, Hispanic/Latino Americans, Native Americans, Alaskan Natives, and Native Hawaiians.” In other words, like many DEI initiatives that pervade most university campuses today, white and Asian men need not apply for this program. Texas A&M justified the program with the goal of establishing a faculty whose racial composition attains “parity with that of the State of Texas”—despite the fact that even Grutter recognized that such racial balancing was “patently unconstitutional.”
Philadelphia’s soda tax backfires. “People shopping for sodas outside city limits canceled out almost 40% of the decrease in sugar-sweetened beverage purchases. Additionally, the soda pop tax actually led to about a 4% increase in purchases of other high-sugar goods in Philadelphia and in neighboring towns. But compared to the sugar decrease from sodas in Philadelphia, additional sweetened food purchases offset an additional 40%.”
Ukraine is carving out big gains in Kharkiv, Texas is in the money, Biden taps Clinton’s bagman to divy up the graft manage climate change funds, more groomers unmasked, and some big changes in the UK. Plus a bit about tanks. It’s the Friday LinkSwarm!
Ukrainian successes on the Kharkiv City-Izyum line are creating fissures within the Russian information space and eroding confidence in Russian command to a degree not seen since a failed Russian river crossing in mid-May.
Ukrainian forces in the Kharkiv Oblast counteroffensives advanced to within 20 kilometers of Russia’s key logistical node in Kupyansk on September 8.
Ukrainian forces will likely capture Kupyansk in the next 72 hours, severely degrading but not completely severing Russian ground lines of communication (GLOCs) to Izyum.
Ukrainian forces are continuing to target Russian GLOCs, command-and-control points, and ammunition depots in Kherson Oblast.
On Thursday, the state comptroller reported that the Lone Star State’s tax revenue rocketed by 25.6% to a total of $75.21 billion.
It’s only the fifth time since 1988 that revenue grew by a double-digit percentage — and it’s double the next largest increase over that 34-year span.
“Revenues continue to outpace even our most recent forecast as All Funds tax collections closed the fiscal year $841 million above the projection in our Certification Revenue Estimate,” said state Comptroller Glenn Hegar in an official release.
That’s a stark contrast to California, which saw July revenue come in 12% below forecast.
Texas has been a major beneficiary of migration from California: Over the last census cycle, 34% of new Texans arrived from California alone. Meanwhile, New York saw personal income tax collection fall 3.2% from April 1 through July.
Joe Biden has hired John Podesta to be the new Clean Energy Czar, citing his experience in progressive causes….
Bottom line, John Podesta is being now being hired to divvy up the $316 billion in Green New Deal money recently authorized by congress. That is what Podesta specializes in, the distribution of taxpayer money to DNC allied groups and networks in advance of the 2022 midterms. Podesta, Hillary’s fixer, is a bagman, nothing more.
Worse, one of the many bag clients he’s adept at channeling money into Democratic pockets for is China.
President Joe Biden on Friday tapped John Podesta to oversee $370 billion in climate spending, a move that has China hawks on Capitol Hill concerned over Podesta’s encouragement of Chinese investment in American infrastructure and praise for the top U.S. adversary on climate change.
Podesta has called for Chinese investment in American infrastructure, arguing in 2013 that there are “great opportunities for Chinese firms to directly invest in this nation, to build American infrastructure, to create American jobs, and generate steady and handsome returns.” He added, “There’s also the ability for Chinese firms to invest here and learn best practices, and take those home to the tremendous and growing middle class market in China.”
Instead, in the intervening decade, the Chinese government has committed widespread economic espionage—one 2017 estimate found that China steals up to $600 billion in trade secrets a year. Engineers in China, meanwhile, use popular social media platform TikTok to access nonpublic data from U.S. users.
Podesta has also praised China’s efforts to combat climate change, arguing in 2015 that the Chinese “are beginning to do a fair amount.” China, which is the world’s top carbon emitter, went on to dramatically accelerate its coal consumption, which reached a record high in 2020.
That record has China hawks on the Hill concerned that America’s top adversary has a new—and powerful—ally in the White House. Podesta’s role will see the liberal consultant implement $370 billion in spending toward alternative energy, a sector that China dominates when it comes to raw materials. As such, alternative energy companies receiving the Podesta-steered funding could turn to China to secure supplies. The new Biden aide will likely take no issue with that dynamic, given that he has argued the United States and China should “align” on a green economy. Sens. Marsha Blackburn (R., Tenn.) and Ted Cruz (R., Texas) argued that the move reflects the White House’s soft-on-China stance.
Democratic County Administrator Robert Telles charged in the death of journalist Jeff German, “an investigative reporter with the Las Vegas Review-Journal who had spent the last few months exposing misdeeds and turmoil in the official’s office.” For all Sundown Joe’s dark mutterings about “UltraMAGA,” it seems like Democrats are the ones doing all the killing…
A now-former elementary school teacher previously charged with sexual abuse of a 7-year-old student was arrested again and charged with sexually assaulting a second victim.
Victor Moreno, 28, was charged in July with continuous sexual abuse of a child, a first-degree felony, and an improper relationship between a student and educator, a second-degree felony.
The accused pedophile’s victim was a second-grade girl in Irving Independent School District, where Moreno was a teacher at the time of the alleged assaults during the 2020-2021 school year.
Snip.
Meanwhile, a teacher’s aide in Mesquite Independent School District was arrested Tuesday after being accused of engaging in inappropriate relationships with students.
Bryan Garcia, 22, was charged with two counts of sexual assault of a child and one count of indecency with a child.
“Higher Ed’s New Woke Loyalty Oaths: A ballooning number of hiring and tenure decisions require candidates to express written fealty to political doctrines.” And you can bet those doctrines have nothing to do with constitutionally limited government based on universal rights…
Indeed, they’re talking about restarting old production lines to start manufacturing older BMP-2s. “The costs and challenges of bringing more modern designs into production are now surely aggravated by Western sanctions cutting access to many basic electrical components, requiring pricey and time-consuming workarounds.”
This is like a scene from a porn movie, only a lot creepier. “Las Vegas landlord requires tenant to sign sex contract in order to lease home.”
“Kim Kardashian Is Starting Her Own Private Equity Company.” Why not? But I’m betting being a genius at self-promotion doesn’t equate to being a genius at investing, especially since she’s starting in the middle of a fierce, widespread downturn…
Easiest way to win Dad of the Year? Pick your son up from school in a tank. Looks like a Scorpion light tank, most likely the FV107 Scimitar reconnaissance variant.
“FBI Drops Investigation After Discovering Trump’s Top Secret Nuclear Documents Were Just Print-Outs Of Hillary Clinton Emails.”
Biden goes all Nuremberg Rally, more transexual madness, Gibson’s Bakery wins final victory, states subcontract their energy policies to crazy California, and more really stupid criminals. It’s the Friday LinkSwarm!
You would think that Biden’s team might have better sense than to dress his set like it’s Darth Maul’s bedroom:
That was the most demagogic, outrageous, and divisive speech I have ever seen from an American president. Joe Biden essentially declared all those who oppose him and his agenda enemies of the republic. Truly shameful. pic.twitter.com/ZcJX2BbZlt
What happens when people in the federal government are incompetent and refuse to do their job? Usually nothing. Or they get promoted. But in Florida? Governor DeSantis fires their asses.
On Friday, Governor Ron DeSantis announced that he would be suspending four members of the Broward County School Board for their “incompetence, neglect of duty, and misuse of authority” at Marjory Stonemason Douglass High School.
In a press release, the governor’s office stated that Patricia Good, Donna Korn, Ann Murray and Laurie Rich Levinson had been suspended following the recommendations of the Twentieth Statewide Grand Jury. DeSantis has been particularly active in education, going as far as endorsing school board members in their races across the state, and enacting laws on curriculum transparency and parental rights.
“Even four years after the events of February 14, 2018, the final report of the Grand Jury found that a safety-related alarm that could have possibly saved lives at Marjory Stoneman Douglas High School ‘was and is such a low priority that it remains uninstalled at multiple schools,’ and ‘students continue to be educated in unsafe, aging, decrepit, moldy buildings that were supposed to have been renovated years ago,’” the press release states.
“These are inexcusable actions by school board members who have shown a pattern of emboldening unacceptable behavior, including fraud and mismanagement, across the district,” the press release continued.
“It is my duty to suspend people from office when there is clear evidence of incompetence, neglect of duty, misfeasance or malfeasance,” said DeSantis. “The findings of the Statewide Grand Jury affirm the work of the Marjory Stoneman Douglas School Safety Commission. We are grateful to the members of the jury who have dedicated countless hours to this mission and we hope this suspension brings the Parkland community another step towards justice. This action is in the best interest of the residents and students of Broward County and all citizens of Florida.”
In their place, DeSantis has appointed Torey Alston, former Commissioner of the Broward County Board of County Commissioners and President of Indelible Solutions, Manual “Nandy” A. Serrano, member of the Florida Sports Foundation Board of Directors, Ryan Reiter, a US Marine Corps Veteran and Director of Government Relations for Kaufman Lynn Construction, and Kevin Tynan, Attorney with Richardson and Tynan, who previously served on the Broward County School Board and South Broward Hospital District, to take the suspended members’ places.
Rachel, a Brooklyn mom with a gender-dysphoric child…went undercover as a pre-teen in the chat, searching for resources for detransitioners. She found none.
Instead, she opened a “Pandora’s box” of sexually perverse content, aggressive gender re-assignment referrals, adults encouraging minors to hide their transitions from their parents, and many troubled kids in need of psychological counseling. She shared screenshots of the chat with National Review.
Rachel says she looked to the Trevor Project in desperation, “when I thought my child was going to kill herself.” The organization frequently claims that LGBT youth are more than four times more likely to attempt suicide than their peers. It claims to be a refuge for these people with its crisis services including TrevorLifeline, TrevorText, and TrevorChat.
Under the advice of a “highly credentialed” medical and mental-health team, Rachel and her husband decided to socially transition their child a few years ago, she told National Review. After that, her child was hospitalized three times for self-harm and suicidality, including at least one suicide attempt. In New York, due to a ban on psychotherapy, so-called gender affirmation was the only legal option they could pursue, she said.
They were at their wit’s end, until her spouse sat her down and presented her with a PowerPoint, showing statistics that people who transition are, by a huge factor, much more likely than the general public to commit suicide.
“My jaw hit the floor. I said, ‘Oh my God we’ve been lied to’,” she says.
Since then, Rachel, a lifelong Democrat and feminist, has been dedicated to exposing the child gender-transition craze, which she argues is driven by “predatory medicine” incentivized by the government.
In TrevorSpace, she got a bird’s-eye view of the progressive non-profit giant that is claiming to save young lives but is really driving them further into existential rabbit holes, depravity, and potential danger, she said.
She documented kids talking about how to buy binders, an undergarment that constricts breasts, behind their parents’ backs. “I know the way people usually do this is by ordering it to a friend’s house or something of the sort, but I don’t have anyone to do that with,” wrote a girl whose account says she’s under 18. “I have money and know where I want to get it from and all that. I just need a means of getting it.” Another user suggested she have the binder sent to a post office where she could pick it up without her parents’ knowledge. Other users were referred to eBay to purchase a packer, or an artificial appendage meant to mimic a penis.
When people sign up for TrevorSpace, they have the option of placing themselves within the age ranges of “under 18” or “18-25.” The community is open to people 13-24, according to the site. There is no system in place to confirm a person’s age, Rebecca says and National Review confirmed. She also said she noticed entries from people claiming to be over 25 too, as well as guest accounts with no age listed.
Other teens, presumably girls transitioning to boys, testified to the effectiveness of Minoxidil, an over-the-counter medication that stimulates facial hair growth. “Can I get and use Minoxidil without my parents knowing?” a girl asked.
The kids Rachel followed on TrevorSpace spanned a diverse spectrum of gender disorientation, some confident in their belief that they were the opposite sex and some just gender curious. But, as Rachel observed, they were all pointed in one direction: gender transition. In a significant number of cases, adults gave minors this validation.
Gibson’s Bakery finally wins complete victory in their case, as Ohio’s Supreme Court refused to hear Oberlin College’s appeal. “It means the Gibsons now can collect approximately $36 million.”
Another day, another high profile Kamala Harris aide leaving. “Herbie Ziskend, a senior communications adviser, announced that he is leaving Harris’s side for the West Wing, where he will be the new White House deputy communications director.”
French tax agency deploys AI to find high ranking government official who are embezzling. Ha, just kidding! They’re using it to find and tax unreported pools.
The last Luftwaffe raid against the UK happened April 21, 1945, less than two weeks before Hitler committed suicide, and some three weeks before VE Day. The planes took off from occupied Stavanger, Norway, and it didn’t work out well for the Germans…
Ukraine’s Kherson counteroffensive appears to be making significant headway. The Institute for the Study of War has some summary goodness.
Ukrainian military officials announced the start of the Ukrainian counteroffensive in Kherson Oblast on August 29. Ukrainian officials reported that Ukrainian forces have broken through the first line of defenses in unspecified areas of Kherson Oblast and are seeking to take advantage of the disruption of Russian ground lines of communication caused by Ukrainian HIMARS strikes over many weeks. Ukrainian officials did not confirm liberating any settlements, but some Russian milbloggers and unnamed sources speaking with Western outlets stated that Ukrainian forces liberated several settlements west and northwest of Kherson City, near the Ukrainian bridgehead over the Inhulets River, and south of the Kherson-Dnipropetrovsk Oblast border. The Russian Defense Ministry (MoD), Russian proxies, and some Russian milbloggers denounced the Ukrainian announcement of the counteroffensive as “propaganda.”
Many Russian milbloggers nevertheless reported a wide variety of Ukrainian attacks along the entire line of contact, and the information space will likely become confused for a time due to panic among Russian sources. Russian outlets have also vaguely mentioned evacuations of civilians from Kherson Oblast, but then noted that occupation authorities in Kherson Oblast are calling on residents to seek shelter rather than flee. ISW will report on the Ukrainian counteroffensive in a new section below.
Let’s snip to that.
Ukrainian military officials announced that Ukrainian forces began a counteroffensive operation in Kherson Oblast on August 29 after severely disrupting Russian ground lines of communication (GLOCs) for weeks. Southern Operational Command Spokesperson Nataliya Gumenyuk stated that Ukrainian forces “began counteroffensive actions in many directions” and have broken through the first line of defense in an unspecified area. The Ukrainian operational group “Kakhovka” stated that Ukrainian forces have cut Russian GLOCs across the Dnipro River in Kherson Oblast and called the situation a “brilliant chance to return [Ukrainian] territories.” The “Kakhovka” group also reported that the Donetsk People’s Republic (DNR) 109th Regiment and Russian airborne troops have left their positions in an unspecified area of Kherson Oblast, and Ukrainian wires claimed that these elements withdrew from their positions around Kherson City. The DNR 109th Regiment had previously published an appeal to Russian President Vladimir Putin in late June identifying itself as a forcibly mobilized unit, complaining that it had not been rotated away from the front line for rest, and decrying poor conditions on the frontlines. Ukrainian military officials also released a DNR document dated July 24 that ordered the redeployment of the 109th, 113th, and 125th DNR regiments to Arkhanhelske, Vysokopillya, Zolota Balka, and Davydiv Brid in northwestern Kherson Oblast. “Kakhovka” also shared footage reportedly of a Russian serviceman seeking shelter on the ground amidst heavy artillery shelling while saying that Ukrainian forces have broken the first line of defense on August 29. Ukrainian officials did not discuss the directionality of Ukrainian counteroffensives.
Ukrainian and Russian officials called for civilians to evacuate or seek shelter in western Kherson Oblast on August 28-29. Ukrainian Kherson Oblast officials called on civilians to leave Kherson Oblast to get out of the way of Ukrainian forces and directed those choosing to stay in Kherson Oblast to seek shelter away from Russian military equipment. Occupation authorities of Nova Kakhkovka, where Ukrainian forces have frequently targeted Russian military infrastructure and GLOCS, called on civilians to seek shelter due to extensive Ukrainian strikes on August 28-29. Russian sources reported that Nova Kakhova occupation authorities do not plan to issue evacuation orders. Ukrainian Melitopol Mayor Ivan Fedorov stated that Russian forces evacuated their military hospital in Melitopol on August 29, indicating further fear of intensified Ukrainian activity even in rear occupied areas.
Paragraph of Russian “counteroffensive failed, everything is fine, nothing to see here, return to your homes” blather snipped.
Russian and Western sources claimed that Ukrainian forces liberated five settlements during the first day of the counteroffensive, but Ukrainian sources have not announced the liberation of any settlements at the time of this publication. An unnamed military official of an unspecified country told CNN that Ukrainian forces liberated Pravdyne (approximately 34km northwest of Kherson City), Novodmytrivka, and Tomyna Balka (both about 23km due west of Kherson City). The official also stated that Ukrainian forces liberated Arkhanhelske on the eastern bank of Inhulets River and south of the Kherson-Dnipropetrovsk Oblast border. ISW cannot independently verify CNN’s report and will update its maps if and when more sources confirm the report. The Ukrainian official report about the withdrawal of the 109th regiment that operates in northwestern Kherson Oblast may suggest that Ukrainians have crossed the Inhulets River into Arkhanhelske. Several Russian milbloggers amplified a report from the Telegram-based milblogger Grey Zone (about 276,000 followers) that Ukrainian forces advanced 6km from their bridgehead over the Inhulets River and seized the Sukhyi Stavok settlement (approximately 7km west of Russian GLOCs along the T2207 highway). Ukrainian Former Head of Foreign Intelligence Service Mykola Malomuzh made similar remarks about the liberation of Sukhyi Stavok.
Ukrainian forces also continued to conduct missile strikes on Russian ammunition depots, GLOCs, and strongholds on August 28 and August 29. Beryslav Raion Military Administration Head Volodymyr Litvinov reported that Ukrainian forces struck Russian manpower and equipment concentration point at the Beryslav Machine-Building Plant, resulting in a large fire at the plant. Odesa Oblast Military Administration Spokesperson Serhiy Bratchuk also reported that Ukrainian forces struck a Russian command post near the North Crimean Canal just east of Nova Kakhovka, a Russian river crossing in Lvove (west of Nova Kakhovka along the Dnipro River), and an ammunition depot in Havrylivka (approximately 33km south of the Kherson-Dnipropetrovsk Oblast border). Ukrainian Telegram channels also published footage reportedly showing a strike on the Antonivsky Bridge and a nearby barge. Social media users published footage of reportedly Ukrainian strikes on a Russian ammunition depot in Nova Kakhovka. The Ukrainian Southern Operational Command noted that Ukrainian forces launched eight airstrikes at Russian strongholds and manpower and equipment concentration points along the line of contact on August 28.
Russian forces are continuing efforts to restore their damaged GLOCs over the Dnipro River. Satellite imagery shows that Russian forces are attempting to build a pontoon crossing near the Antonivsky Bridge, which appeared to be halfway finished as of August 27. Geolocated satellite imagery also showed that the Kakhovka Bridge is still out of service with strike holes on the critical junctures of the bridge. Satellite imagery indicated that Russian forces are continuing to move military equipment mostly north toward Kherson City via the pontoon ferry. Satellite imagery showed the movement of 100 Russian military vehicles as of August 25, with few moving south. Such transfer of equipment via ferries is inefficient and vulnerable to further Ukrainian strikes. Russian forces reportedly continue to experience difficulties maintaining other GLOCs to southern Ukraine. Mariupol Mayoral Advisor Petro Andryushchenko stated that Russian logistics efforts relying on Mariupol rail transit will likely falter in the following days due to lack of electricity, damage to station cranes, and flooding that hinders rail operation in Mariupol.
Deutches Welle has a meaty segment on the conflict:
Some takeaways:
Ukraine seem to have three main prongs for their counterattack:
West of Kherson
The land bridge that collects it to Mykolaiv
“Further north, near the Kakhovka dam.” (For certain values of “near.”)
Still shelling near the Zaporizhzhia nuclear power plant. (Lots of time spent on this.)
Germany is sending Ukraine Vulcano (though the DW announcers pronounce it “volcano”) high precision artillery shells.
Ukrainian commander Yurii Bereza says that HIMARS and precision howitzer munitions have been a great equalizer.
More than 90 billion Euros pledged to Ukraine. Biggest donors are 1. U.S. (far and away the biggest), 2. UK, 3. EU, 4. Poland, 5. Germany. (Yeah, I know the last two are in the EU.)
There’s a lot of talk over Germany going soft due to gas shortages, but German Chancellor Olaf Scholz sounds pretty hardline here, talking about “Russia’s brutal war of aggression.”
Private foreign donors have also allowed Ukraine to buy millions in drones.
Concerns over rapid depletion of EU weapons supplies. (Also a concern in the US.)
Ben Hedges, former commander of U.S. forces in Europe, thinks Ukraine has done a good job of shaping the battlespace and building up forces for the counteroffensive.
“The Russians have not yet fixed the many problems [that] were on display back in February and March. Especially their command and control framework …It’s still a mess.”
“The logistical system is fragile, it’s exhausted, it’s gotten weaker by the week.”
On Putin announcing a 10% increase in troop levels: “I’d bet a large sum of money that there’s not 137,000 Russians willing to step up and join the military.”
“There’s a history in Russia of serious inflation in numbers. They’ve never had what they said they had. This is a classic means of corruption, to claim a certain number to draw salaries, when in fact you’re only paying half to three-quarters of that.”
“It’s an unhealthy population decreasing in size.”
Even if Putin gets the additional troops he wants, it will be months before they show up with equipment.
Not only was the Antonivsky Bridge hit again, but the in-progress pontoon bridge was also hit, as was a ferry.
OFFICIAL UPDATE from the #Ukraine's South Command on the offensive on the south: The UAF destroyed the Russian makeshift evacuation/supply bridge across the Dnipro river near Lvove village in Beryslav district of Kherson province. [Thread⬇️] pic.twitter.com/GEkAbZId2t
Ukraine says that all the bridges across the Dnipro River near Kherson are “unusable.” They do appear to have been badly damaged, but I’d take “unusable” with a grain of salt.
In-cockpit combat aircraft footage from a Ukrainian Mig-29 in Kherson theater:
Some tweets:
⚡️ Russia suffers heavy losses in southern Ukraine.
Operational Command “South” reported that they killed 82 Russian soldiers and destroyed 30 units of equipment, including tanks, howitzers, missile systems, self-propelled guns, armored vehicles, and other weapons.
KHERSON /0200 UTC 30 AUG/ UKR forces are maintaining a coordinated offensive along a broad front West of Kherson. UKR task units south of the M-14 HWY are said to have advanced as far as Tomnya Balka. RU telegram channels report that local occupation forces are in disarray. pic.twitter.com/eZal6TNj6g
Ron DeSantis drives more enemies before him, the Biden Administration keeps doubling down on tranny madness, Batgirl dies for DC’s sins, and the most “Ewww” inducing headline of the year. It’s the Friday LinkSwarm!
Construction projects are undertaken within a legal and regulatory system that presents persistent, costly obstacles, while projects are being overseen by agencies who lack the resources and in some cases even the expertise to manage them.
Sepulveda’s numerous lawsuits and stakeholder conflicts are an example of a phenomenon that can be traced back to the passage of the National Environmental Policy Act (NEPA) in 1969. NEPA mandates developers to provide environmental impact statements before they can obtain the permits necessary for construction on huge swathes of infrastructure.
Shortly following the passage of NEPA, California’s then-governor Ronald Reagan signed the California Environmental Quality Act (CEQA) into law, which required additional environmental impact analysis. Unlike NEPA, it requires adopting all feasible measures to mitigate these impacts. Interest groups wield CEQA and NEPA like weapons. One study found that 85 percent of CEQA lawsuits were filed by groups with no history of environmental advocacy. The NIMBY attitude of these groups has crippled the ability of California to build anything. As California Governor Gavin Newsom succinctly put it, “NIMBYism is destroying the state.”
It is also destroying the U.S.’s ability to build nationally. The economist Eli Dourado reported in The New York Times that “per-mile spending on the Interstate System of Highways tripled between the 1960’s and 1980’s.” This directly correlates with the passage of NEPA. If anything, the problem has gotten worse over time. Projects receiving funding through the $837 billion stimulus plan passed by Congress in the aftermath of the financial crises were subject to over 192,000 NEPA reviews.
The NEPA/CEQA process incentivizes the public agencies to seek what is often termed a “bulletproof” environmental compliance document to head off future legal challenges. This takes time, with the average EIS taking 4.5 years to complete. Some have taken longer than a decade. A cottage industry of consultants is devoted to completing these documents, earning themselves millions in fees.
The NEPA consultants are just one of the numerous types of consultants that benefit from the way we build. Most infrastructure in the U.S. is built through a huge number of state and local agencies: for example, there are 51,000 community water systems alone in the U.S. This decentralized structure makes it much more difficult to develop the depth of expertise needed to manage the complexities posed by megaprojects. Often, the multiple public agencies that are involved with projects also have overlapping authorities, creating bureaucratic delays and slowing decision making.
The expertise problem is compounded by the fact that agencies are often staffed with a workforce of people either just at the beginning of their careers or near the end of them. Those at the beginning tend to leave if they are ambitious, which leaves senior positions in the hands of agency lifers. Because of this dynamic, and the fact that it is not economically feasible to have the wide range of expertise needed in-house, public agencies employ engineering consulting firms. These firms fill a valuable niche. If you are building a complex project—say, a long-span bridge or a desalination plant—you want advice from someone who has designed and built dozens of them. The problem arises when you become too dependent on such advice.
The High-Speed Rail project was undermined by such a failure. At its peak, the agency responsible for the project, the California High-Speed Rail Authority, had fewer than 30 permanent employees managing the $105 billion project. Instead of hiring staff, the Authority relied heavily on outside consultants. These consultants were well paid, with the primary consultant compensation for HSR at $427,000 per engineer, compared with the Authority’s in-house cost of $131,000 per engineer. This structure creates a principal-agent problem where they are incentivized to maximize their billable hours. As a California State Auditor assessment of the project noted, consultants “may not always have the state’s best interest as their primary motivation.”
This lack of in-house institutional expertise leads to bad decision-making. Bent Flyvbjerg, a professor at Oxford University who has written extensively about megaprojects summarized the problem when asked about California’s HSR project: “If you depend on consultants to know what you are doing then you are in real trouble…a good balance is where the owners are not outsourcing all the knowledge. A bad balance guarantees a bad outcome.”
The pitfalls of this lack of balance appeared before large parts of the project began. In 2014, Dragados, the contractor for a 63-mile section of the HSR, proposed radical design changes that they projected could save $300 million. The fact that Dragados’s bid was $500 million lower than its competitors and that it rested upon a design concept that had not been thoroughly vetted should have caused alarm. As a senior engineer who worked on the original environmental compliance document for HSR and reviewed the concepts told the Los Angeles Times, “it is mind-boggling they would entertain some of the things that Dragados proposed.”
Dragados’s approach may have been driven by the fact it didn’t have the experience of its competitors; it had never built a rail project in the U.S. before and needed an edge to be selected. It was a measured risk because it knew there were ways to limit its financial exposure if its design ideas didn’t work. A Los Angeles Times investigation of the project in 2021 found Dragados had issued 273 change orders for additional payment and had completed less than 50 percent of its planned work four years after its section was supposed to be complete. Its design ideas had been almost completely abandoned as unworkable and Dragados’s section of the work was $800 million over budget.
The principal-agent problem arises with union construction labor as well. Skilled union workers, such as electricians and carpenters, make solid hourly wages, but their pay really explodes with overtime. A 2011 study by the Real Estate Board of New York found that some union crane operators made up to $500,000 a year in pay. Union contracts mandate unnecessary positions as well, to the benefit of its members. The same study found 50 workers in unnecessary positions such as relief crane operators on the World Trade Center Project, including 14 unproductive employees making $400,000 a year at the project.
Similar statistics can be found on other projects; an investigation into the costs of the East Side Access rail project in New York, which cost nearly $3.5 billion for each new mile of track, found that only 700 of the 900 workers being paid on the project were needed. A TBM, which is largely run automatically and typically staffed with under 10 people, ostensibly had 25 or 26 people working on it. Because you can’t drill without a TBM, and you can’t build a high-rise without a crane operator, these union workers have inordinate power.
A common retort to the claim that union labor drives up costs is that other countries, especially in Europe, have both high union participation and lower project costs. But it is widely recognized in the industry that unions increase project labor costs by 20 to 25 percent on average in the U.S.
The fundamental problem isn’t unions per se, but rather the way that unions operate within parts of the U.S. system. The Netherlands has strong unions, but the Port of Rotterdam has been automated to an extent that has proven impossible in the U.S. due to union resistance. As the president of the International Longshoremen’s Association, Harold Dagget, recently put it, his union will “fight tooth and nail” against further automation in the U.S. Any attempt at real construction innovation runs into similar barriers at every level of the system. There are too many layers of permission needed to innovate, including groups whose interests run counter to innovation.
Innovation in physical work ultimately means substituting or complementing labor through technology to improve productivity. If your pay depends on overtime, you want inefficiency. The average dockworker at the Port of Los Angeles makes over $100,000 a year, largely due to overtime. The majority of foremen and managers earn more than $200,000, and the mariners who guide ships in and out of the port average nearly $450,000.
The result is that innovation is inhibited by both labor resistance and a decentralized government bureaucracy that has neither the incentives nor the capability of driving real change. Perhaps it should not be shocking that U.S. construction productivity has fallen by half since the 1960s according to research conducted by the consulting firm McKinsey.
In San Francisco, Soros-funded DA Chesa Boudin has seen a flood of departures from his office due to his criminal justice reform policies.
Boudin campaigned on a platform to end mass incarceration, eliminate cash bail, and vowed to create a panel to review sentencing and potential wrongful convictions. Following his election in November 2019, Boudin announced he would deemphasize the prosecution of drug cases, so-called quality-of-life cases, and property offenses.
Under his watch, vehicle break-ins increased 100-750% in parts of the city between 2020 and 2021, with the number of reported vehicle thefts reaching 1,891 in May 2021—more than double the 923 reported in May 2020.
San Francisco also recorded one of the largest increases in burglaries among major cities last year, with a jump of 47 percent—a trend that has continued this year. Fatal and nonfatal shootings in the first six months of this year were up more than 100 percent from the year-earlier period, increasing to 119 from 58, the city’s police chief said at a July press conference.
More than 700 people died of drug overdoses in 2021 in the city, a record that is likely to be surpassed this year, according to the chief medical examiner.
Rudy Giuliani – the former Mayor of New York City whose claim to fame was a massive reduction in crime (and who’s traded barbs with Soros in the past), isn’t letting the billionaire off the hook.
“If there is one single person responsible for the record increases in murder and violence in America’s cities it’s George Soros,” Giuliani said in a Monday tweet.
“Major contributor to BLM, Antifa, Democrat Party, Biden, Harris and 40 or so pro Criminal DAs. The blood is on his hands,” he added.
Assistant State’s Attorney James Murphy described an understaffed office in turmoil in his email to colleagues, saying, “I cannot continue to work for an Administration I no longer respect.”
“I would love to continue to fight for the victims of crime and to continue to stand with each of you, especially in the face of the overwhelming crime that is crippling our communities,” Murphy wrote. “However, I can no longer work for this Administration. I have zero confidence in their leadership.”
Murphy, who could not be reached directly for comment, zeroed in on many of the issues that have made Foxx a target of opponents who argue she’s gone easy on some accused of violent crimes, as carjackings and gun violence have risen in the Chicago area.
Murphy wrote that he first started thinking about leaving the office early in 2021 with Foxx’s involvement in the passage of the SAFE-T Act, a wide-ranging law that aims to reform the state’s approach to criminal justice, including by narrowing the definition of who can be charged with first-degree murder.
DeSantis has suspended State Attorney Andrew Warren for ‘picking and choosing which laws to enforce based on his personal agenda,’ and has appointed Susan Lopez as his replacement during the suspension.
Warren, who had served the Thirteenth Judicial Circuit, has most recently refused to follow state policy criminalizing abortion in the wake of the Supreme Court’s decision to overturn Roe v. Wade – and repeatedly refused to enforce laws cracking down on child sex-change surgeries, according to DeSantis.
The liberal state attorney also declined to prosecute 67 protesters arrested in George Floyd demonstrations, and said in 2017 that he would only pursue the death penalty “in the very worst cases,” and not where “mental illness played a role.”
“We are suspending Soros-backed 13th circuit state attorney Andrew Warren for neglecting his duties as he pledges not to uphold the laws of the state,” DeSantis’ office said in a statement, per Fox News.
Update: DeSantis sent state police to physically remove Warren from his office, “with access only to retrieve his personal belongings, and (ii) to ensure that no files, papers, documents, notes, records, computers, or removable storage media are removed from the Office of the State Attorney…”
PayPal has reportedly unfrozen Moms for Liberty’s account funds after Florida Gov. Ron DeSantis announced his state would crack down on woke banking.
Payment platform PayPal allowed grassroots, anti-woke education group Moms for Liberty to access its funds after DeSantis’s new initiative against woke banking, Florida’s Voice reported. Moms for Liberty co-founder Tina Descovich reportedly told Florida’s Voice that her organization had been using PayPal for more than a year before the platform censored the group.
Descovich reportedly said that many Moms for Liberty donors give monthly and automatically through PayPal. The payment processor not only stopped these donor payments but froze $4,500 belonging to Moms for Liberty, and prohibited any transfer of the money out of the account, according to Florida’s Voice. PayPal subsequently reversed its block by unfreezing the funds.
PayPal notified Descovich that Moms for Liberty’s accounts were initially frozen during DeSantis’s July 15 speech at the Moms for Liberty National Summit, according to Florida’s Voice. The funds were unfrozen after DeSantis announced his initiative against woke banking.
The world is facing serious food and energy shortages as an outgrowth of the war in Ukraine and supply-chain shortages. Farmers are working to solve these problems, but we need help from the federal government if we are going to have any chance of success.
That’s why national corn grower leaders recently called on the Biden administration to address regulatory overreach.
That call comes after the U.S. Environmental Protection Agency recently revised its atrazine registration, a move that could restrict access to a critical crop protection tool that has been well tested and shown to be safe for use. Farmers fear that new requirements will impose arduous new restrictions and mitigation measures on the herbicide, limiting how much of the product they use.
The atrazine decision comes on the heels of a development involving the herbicide glyphosate. In June, the U.S. Supreme Court refused to hear a case decided by a lower court from California, leaving in place a ruling that supports the claim that glyphosate use causes cancer – even as the EPA has repeatedly affirmed that the widely sold and well-studied herbicide is not carcinogenic.
The Supreme Court’s decision came after the solicitor general in the Biden administration submitted an amicus brief advising the court against hearing the case.
As a result, the door is now open for states to create a patchwork of regulations governing herbicide use, which will increase costs as manufacturers must now jump through hoops in every state, on top of making compliance difficult for the users of these products.
Farmers in Iowa and across the country have also experienced major fertilizer price hikes and shortages over the last year, thanks in part to steps taken by the U.S. International Trade Commission to impose tariffs on fertilizers. Thankfully, ITC recently voted against adding tariffs on nitrogen fertilizers. But tariffs on phosphorous fertilizers from Morocco remain in place, driving up input prices for growers.
Speaking of foolish regulations that can contribute to famine, new “debarbonization” shipping rules could do just that.
A new report found that more than 75% of ships will not meet the International Maritime Organization’s (IMO) new Environmental social and corporate governance (ESG) index aimed at decarbonizing the industry. This means that many ship owners will be forced to slow ships down to reduce emissions but doing so could deepen the global food and energy crisis by reducing available ship capacity.
“IMO decarbonization targets will cause ships to slow down delaying food shipments and people will starve,” a global security analyst told gCaptain. “How many people will die as a result of the IMO’s ESG efforts is unknown at this time. I don’t think most shipowners even understand the severity of the EEXI threat but it could be millions of lives.”
“Ships have to attain EEXI approval once in a lifetime, by the first periodical survey in 2023 at the latest.” The certification is currently voluntary, but banks and insurers may force ships to comply or be cut off. (Hat tip: Sarah Hoyt at Instapundit.)
Russo-Ukrainian War update: “Ukraine takes out Russian ammunition railway connecting Kherson to Crimea.” I keep seeing rumors of a big Ukranian counteroffensive to retake Kherson, but it seems like it’s slow to make much headway.
In 2016, the Obama administration’s Department of Health and Human Services issued a rule that would have forced doctors across the country to assist in transitioning patients out of their biological sex, regardless of a provider’s medical opinion or conscience objections.
“A provider specializing in gynecological services that previously declined to provide a medically necessary hysterectomy for a transgender man,” for example, “would have to revise its policy to provide the procedure for transgender individuals in the same manner it provides the procedure for other individuals.”
The rule left no room for religious physicians or institutions to breathe, instead menacing them with draconian fines, were they not to toe the controversial new line.
In stepped the Becket Fund for Religious Liberty, which swiftly secured a preliminary injunction in federal court that stopped the rule from going into effect, on the grounds that it violated the Administrative Procedure Act, and likely violated the Religious Freedom Restoration Act. It was a decision later confirmed in 2019, and made permanent by a 2021 ruling.
On August 4, however, Becket attorney Luke Goodrich, who has been working on the case since the Obama-era rule was first issued, will march back into the courtroom, having been dragged back in by the Biden administration and Secretary of Health and Human Services Xavier Becerra.
“They say that our lawsuit was only about the 2016 rule. . . . They say, ‘well, all you were challenging was the 2016 rule, and you won that, but now we’re using a different rule or a different rationale for imposing the same requirement on you, and so you have to file a new lawsuit,’” explained Goodrich.
Under the Biden administration’s theory, the Affordable Care Act provides the administration with “all the authority” it needs “to punish groups that don’t perform gender transitions and abortions,” Goodrich told National Review. The 2016 rule also included language that Becket alleges would force religious institutions to perform abortions.
Remember how Republicans said ObamaCare would endanger religious liberty and the MSM dismissed their concerns? Just like “If you like your doctor, you can keep your doctor.”
According to Goodrich, “the merits are completely resolved and haven’t been appealed; the fight on appeal is about the scope of relief.” He described an effort to work around a losing legal argument by burdening religious objectors and opening up new fronts of battle.
“They want religious organizations to have to play Whac-A-Mole every time the government violates the Religious Freedom Restoration Act, and they want a ruling that will leave them free to keep violating religious liberty every time they shuffle the same legal requirement from one volume of the Federal Register to another,” he said.
That strategy is observable in the proposal of yet another, even broader rule — modeled after the 2016 one — issued by Becerra, who has made his political brand on waging one ruthless culture war after another.
As attorney general of California, Becerra sought to punish independent journalists who exposed Planned Parenthood’s sale of fetal remains harvested during abortions. The Los Angeles Times editorial board described his decision to charge those involved with felonies “disturbing,” and the progressive Mother Jones called it “chilling.”
He also happily enforced a plainly unconstitutional California statute requiring pro-life crisis pregnancy centers to provide pro-abortion materials to patrons, and, as a member of the U.S. House of Representatives, voted against legislation that would allow providers not to perform abortions without fear of government reprisal.
Has Tranny Madness peaked in the UK? There, the Rugby Football Union and Rugby Football League just banned men from playing women’s rugby. In other news, there’s evidently women’s rugby.
“What’s the worst performing stock in the Dow Jones Industrial Average so far this year? Disney.”
The Mickey Mouse company, headquartered in Burbank, has lost about 35% of its value this year versus a nearly 15% loss for the broader index. As a result, tens of millions of Americans who hold Disney stock either directly or indirectly as part of passive index funds have seen their finances take a hit at the worst possible time as inflation spirals out of control.
Disney’s poor financial performance is a product of its own making. In recent months, the company has aggressively waded into controversial cultural issues such as gender identity, making it clear it is putting politics over its shareholders and customers. Disney is a prime example of the threat posed to shareholders and the broader economy of “woke” capitalism. Its story should serve as a cautionary tale for other companies looking to follow in its footsteps.
Disney has all but admitted it’s leveraging its prized position as a top children’s content creator to push a divisive cultural agenda. In March, Disney’s president of content told employees the company plans to have at least 50% of its regular characters come from “underrepresented groups.” Another top producer boasted about Disney’s “not-at-all-secret gay agenda,” including “adding queerness” to children’s programming. Yet another senior executive promised that Disney would implement a “tracker” to ensure programs contain enough “canonical trans characters.”
We’re getting a look at what this woke agenda looks like in practice. An upcoming episode of Disney’s new children’s show “Baymax!” features a transgender man buying menstrual pads. “I always get the ones with wings,” says the “man” wearing a shirt with the transgender flag. Disney is also abolishing the words “boys” and “girls” at its theme parks.
“BLM Activist Shaun King Used Donor Funds To Buy $40k Thoroughbred Show Dog.” That’s infuriating. Not that premagrifter Talcum X siphoned BLM money into his own pockets. That part’s hilarious and predictable. No, that he spent forty grand on a dog when they are so many shelter dogs who need a home.
A pretty good list of the 95 Best Action Movies Ever. Has all the stuff you would expect to be on there (Die Hard, Hard-Boiled, The French Connection, etc.), plus a good bit of Jackie Chan, Sorcerer, Safety Last, Hot Fuzz, and even Andy Sedaris’ hilarious low-budget breastsplotation “classic” Hard Ticket To Hawaii.
And, oh yeah, the Critical Drinker is there. “Warner Brothers may be the first domino to fall, but something tells me they won’t be the last. And when other companies realize that you can safely drop THE MESSAGE and the people peddling it…well, the next year or two could turn out to be very interesting.”
Boris Johnson is to resign as UK prime minister after he was hit by an unprecedented wave of resignations from his government.
Months of unremitting political turbulence spiked on Tuesday when his health secretary and chancellor quit within 10 minutes of each other over the PM’s handling of sexual misconduct allegations against a senior MP.
This triggered a trickle of resignations and letters of no confidence from junior ministers and MPs that on Wednesday became a flood. That evening, a group of senior ministers went to Downing Street to try to persuade the PM to resign.
Mr Johnson initially remained defiant and on Wednesday evening said he had no intention of resigning given his “colossal mandate” from voters at the 2019 election. Cabinet ally Jacob Rees-Mogg dismissed the campaign against him as a “squall”.
But by Thursday morning more than 50 members of the government had quit, including Education Secretary Michelle Donelan who had only been appointed on Tuesday night. and Mr Johnson was forced to bow to the inevitable.
On the one hand, the things Johnson is resigning for (sex scandals by underlings and breaking Flu Manchu restrictions) would never have brought down a major Democratic political figure on this side of the pond. On the other hand, beyond Brexit, one searches high and low in vain for a single conservative policy initiative that Johnson has pushed through. For all his press as a “Trump-like” figure, Johnson has none of Trump’s notable accomplishments in economics or foreign policy. Johnson seems no more successful a leader than the woman he replaced at Number 10 Downing Street, Theresa May.
In the end, all Boris Johnson seemed to believe in was Boris Johnson. It wasn’t nearly enough.
Halifax Bank in the UK decided to do some virtue signaling, unveiling ads celebrating their pronouns. When customers objected, the bank tweeted “If you don’t like it, close your account.”
Halifax’s pronouns badge PR disaster has sparked an exodus of customers and their savings today as its bosses were branded ‘old fashioned bullies’.
Britons are closing their accounts en masse after the bank’s social media team told them to leave if they don’t like their new badges to help avoid ‘accidental misgendering’ of staff.
One account holder told MailOnline that he and his family has already pulled out investments and savings worth £450,000 while many more said they are closing ISAs after they accused the bank of ‘alienating’ them with ‘pathetic virtue signalling’.
Another reader cancelled his Halifax credit cards online today and told customer services: ‘Pronouns matter when used properly, I will not be told by a bank what I can and can’t’. Other critic said: ‘I care because they paid someone to come up with this rubbish but they keep closing branches’.
Branding expert Martin Townsend said Halifax’s policy is a ‘Ratner moment’ and an ‘astonishing’ mistake that will be considered one of the biggest PR blunders in recent history.
He told LBC: ‘It’s a Ratner moment I would say.
For those unfamiliar with the saying, Gerald Ratner was a jewelry store chain owner who joked that his products were crap. “Within a few days of the speech, Ratners Group shares dropped by £500 million (US$1.8B today); by the end of 1991, its stock was down 80%.”
It’s astonishing that they do something to make themselves look right on and virtue signalling – and they end up looking like the most old fashioned bullies, telling them: “If you don’t like it you’re welcome to leave”. It’s extraordinary. Who treats their customers like that? I’ve never heard of a company inviting their customers to go. How is that inclusive?’.
Natwest, Nationwide and HSBC all have optional pronoun policies for badges. HSBC entered the debate and shared the Halifax post, tweeting its 101,000 followers: ‘We stand with and support any bank or organisation that joins us in taking this positive step forward for equality and inclusion. It’s vital that everyone can be themselves in the workplace’.
The row began this week when Halifax, which was propped up by the taxpayer to the tune of £30billion as part of a 2008 bailout, tweeted its 118,000 followers on Tuesday revealing that it would allow staff to display their pronouns on their name badges, in a post that read ‘pronouns matter’.
It showed a photo of a female staff member’s name badge, which featured ‘she/her/hers’ in brackets under the name Gemma.
One customer replied: ‘There’s no ambiguity about the name “Gemma”. It’s a female person’s name. In other words, it’s pathetic virtue signalling and is seen as such by almost everyone who has responded to the initial tweet. Why are you trying to alienate people?’ Within 20 minutes a member of the Halifax social media team, calling himself Andy M, replied: ‘If you disagree with our values, you’re welcome to close your account’.
Andy M’s response has outraged customers, and seen hundreds claiming they will boycott the bank with many saying they have closed their accounts. Others have cut up their credit cards or getting rid of insurance policies and said the threat was the final straw after it cut 27 branches alone in 2022.
One told MailOnline: ‘My entire family have now transferred their accounts to Nationwide, cards etc. Loss to Halifax is in excess of 450K in investment accounts and savings’.
Two landmark Supreme Court cases drop, another woke social justice child-rapist exposed, Keith Olbermann channels John C. Calhoun, and the secret plans to nuke Yorkshire. It’s the Friday LinkSwarm!
Just like the old gypsy woman said leakers indicated, the Supreme Court has overturned Roe vs. Wade.
The Supreme Court on Friday overturned Roe v. Wade, the 1973 ruling that legalized abortion, allowing a Mississippi law that bans abortions after 15 weeks to take effect.
“The Constitution does not confer a right to abortion; Roe and Casey are overruled; and the authority to regulate abortion is returned to the people and their elected representatives,” Justice Samuel Alito wrote for the 6-3 majority.
Justice Alito was joined by Justices Amy Coney Barrett, Neil Gorsuch, Brett Kavanaugh, Clarence Thomas, and Chief Justice John Roberts in the majority. Justice Roberts wrote in a concurring opinion with the majority that he would have taken a “more measured course” stopping short of overturning Roe altogether, but agreed that the Mississippi abortion ban should stand.
The Court’s liberal Justices Stephen Breyer, Elena Kagan, and Sonia Sotomayor dissented….
The ruling in Dobbs v. Jackson Women’s Health Organization means each state will now be able to determine its own regulations on abortion, including whether and when to prohibit abortion.
In New York State Rifle and Pistol Association v. Bruen, the Court affirmed that gun rights are due the same protection as all other constitutional rights.
To which I can only reply “Duh. What took them so long?”
Today’s Supreme Court decision in New York State Rifle and Pistol Association v. Bruen is not only the most important Second Amendment ruling since D.C. v. Heller, it is potentially the most important Second Amendment ruling in American history.
Not sure about that, as Heller firmly established the gun ownership was an individual right unconnected to militia service. That laid the conceptual groundwork for today’s ruling.
For all the brouhaha, the question at hand in Bruen was rather straightforward: Can the state of New York require that applicants for gun-carry permits “demonstrate a special need for self-protection distinguishable from that of the general community,” or is New York obliged by the Constitution to offer a “shall issue” regime of the sort that 43 of the other 49 states have adopted? By a 6–3 vote, the justices decided that the latter approach is required. In the United States, Clarence Thomas’s majority opinion concluded, “authorities must issue concealed-carry licenses whenever applicants satisfy certain threshold requirements, without granting licensing officials discretion to deny licenses based on a perceived lack of need or suitability.” Moreover, while there is nothing illegal about America’s existing state-level permitting systems, those systems may not be mere smokescreens for outright prohibition, unequal protection, or unacceptable delay. “We do not rule out,” Thomas added in a footnote, any “constitutional challenges to shall-issue regimes where, for example, lengthy wait times in processing license applications or exorbitant fees deny ordinary citizens their right to public carry.”
As Justice Alito was keen to note, this “holding decides nothing about who may lawfully possess a firearm or the requirements that must be met to buy a gun. Nor does it decide anything about the kinds of weapons that people may possess.” It concludes solely that:
The exercise of other constitutional rights does not require individuals to demonstrate to government officers some special need. The Second Amendment right to carry arms in public for self-defense is no different. New York’s proper-cause requirement violates the Fourteenth Amendment by preventing law-abiding citizens with ordinary self-defense needs from exercising their right to keep and bear arms in public.
Bottom line: New York is allowed to exclude carry-permit applications on a categorical basis (e.g., the applicant has a felony conviction), but not on a subjective one (e.g., the applicant doesn’t “need” a gun in the view of the determining officer).
To get there, the majority first determined that “nothing in the Second Amendment’s text draws a home/public distinction with respect to the right to keep and bear arms.” Indeed, “to confine the right to ‘bear’ arms to the home,” the majority observed, “would nullify half of the Second Amendment’s operative protections.” This, Thomas explained, would not do, because “the constitutional right to bear arms in public for self-defense is not ‘a second-class right, subject to an entirely different body of rules than the other Bill of Rights guarantees.’”
Liberals are taking the gun and abortion rulings well. Ha, just kidding! Keith Olbermann came out for nullification. Because nothing says “progressive liberalism” like adopting the policies of South Carolina from 1832.
Ukraine has banned the main opposition party. Not a great look. Though you know FDR would have tried that with Republicans if he thought they posed more of a threat to his agenda and the Supreme Court would let him get away with it…
Israel is headed for yet another election. “After almost one year of taking power, Israel’s ruling coalition has agreed to dissolve the parliament and hold new elections. ‘Israeli Prime Minister Naftali Bennett’s office announced Monday that his weakened coalition will be disbanded and the country will head to new elections.'” (“How many elections is that now, five?” “Shut up! Don’t tell Mere!”)
International Swimming Federation bans men from competing. It’s astonishing that headline even needs to be written…
Powers that be in Tennessee are threatening YouTuber Whistlin Diesel with a year in prison for…splashing with a jet ski. Sounds like a clear abuse of power to me…
A review of one of the last production Trebants, the crappy, under-powered, plastic communist car East Germans had to wait years to buy. Let this be another reminder that commies aren’t cool and the consumer goods produced by commie companies that don’t have to deal with market competition are crap.
“In my day, we had to work twenty-five hours a day, eight days a week, and they set off a nuclear explosion underneath us! You tell that to kids these days and they don’t believe you!”
“After ‘Lightyear’ Bombs, Disney Quietly Cancels Their Upcoming Movie ‘Brokeback Woody.
