Author Archives: R. Mitchell

Iran Claims to Have Captured U.S. Ship, Pentagon Denies

[Developing Story]

According to an Al Arabiya report Iran claims that it has captured a U.S. ship with American sailors aboard:

Iran has fired at a U.S. cargo ship and has directed it to Bandar Abbas port on the southern coast of Iran, Al Arabiya News Channel has reported on Tuesday.

Up to 34 American sailors are believed to be onboard the ship, Al Arabiya reported.

A Pentagon spokesman said that the vessel involved was flagged to the Marshall Islands and that no Americans were on board.

War Zone Baltimore: Night Falls

Baltimore Burns

Baltimore BurnsA series of miscalculations and missteps by Baltimore leadership and police has resulted in massive looting, several police getting hospitalized and property getting destroyed – and that was during the day.

As night descends on “Charm City”, the days events appear to be just the beginning.

The darkness lends camouflage to the criminals and thugs. The groups are splintering into multiple mobs and causing police to respond in a whack-a-mole fashion – albeit ineffectively.

In a set of interviews on the streets of Baltimore by Fox News reporter Leland Vittert, several members of the black community were asked what they were angry about. What came out was a disjointed set of grievances:

  • “They’re looting and the police are way down there and aren’t doing anything”
  • “Oppression”
  • “There are good arrests and bad arrests, when I got arrested it was a bad arrest. I did stuff, but they could have arrested me better.”
  • “Why you kill my man Freddie”
  • “I’m angry with everything, I’m angry with them .. I’m angry”
  • “What’s happening now, I can’t even say it’s about Freddie now.. I  can’t say it’s about Freddie”
  • “It’s gonna tell white America that, excuse my French you gotta <unintelligible>”

What is clear is that there are those that are interested in mob behavior and those trying to prevent their own neighborhoods from being turned upside-down like Ferguson.

One inner-city grocery store owner had no choice but to watch her store get looted with the police standing in a line a half-mile down the hill. A nearby group of ministers admitted that they had asked the police to stay away and that the clergy would calm things down. The police held their part of the bargain.

Most of the protesters were not carrying signs. The only two messages visible were one woman carrying a sign that said “Stop Lethal Force” and an earlier group of men wearing “300 Man March” shirts.

The Mayor has asked for and received a declaration of emergency and the addition of the National Guard to enforcement efforts.

A curfew is to be instated starting tomorrow night.

G.W. Bush Offers Rare Criticism of Obama

President G.W. Bush

President G.W. BushAt an hour-long question-and-answer session with the Republican Jewish Coalition, former President George W. Bush offered harsh criticism of President Obama’s handling of the Middle-East.

Bush has previously avoided criticizing the sitting President, but Saturday night he offered his views on Obama’s handling of the Iranian nuclear deal, the retreat from Iraq and President Obama’s approach to dealing with ISIS.

Bush said that Obama’s approach to Iran is naive and that allowing sanctions to expire with an idle threat that they could be put back in place at any time was unrealistic. The former president also characterized Obama’s approach as short-sighted when he said “You think the Middle East is chaotic now? Imagine what it looks like for our grandchildren. That’s how Americans should view the deal.”

Bush then put ISIS’ advancement in Iraq squarely on Obama’s shoulders. He called President Obama’s decision to withdraw U.S. troops from Iraq without a Strategic Forces Agreement a “strategic blunder.”

On dealing with terrorists, Bush hinted that Obama has been too soft. Bush said “In order to be an effective president … when you say something you have to mean it. You gotta kill em.”

 

Baltimore Erupts in Violent Protest

Baltimore protest

Baltimore protestBaltimore exploded last evening following the death of Freddie Gray and admissions by Baltimore police officials that officers made mistakes during his arrest.

Gray was arrested on April 12th following a foot chase. While available video shows the final moments of the arrest and Mr. Gray in agony, the cause of the trauma has not yet been shown.

On April 19th, Freddie Gray died following a week in the shock trauma unit clinging to life. Family attorneys reported that his spinal cord had been 80% severed by some traumatic event.

On April 24th, Police leadership admitted that mistakes were made in the arrest and that an official investigation will continue – vandalism, violence and marches erupted the very next evening.

Last night, Camden Yard ballpark was temporarily put on lock-down while the violence in downtown Baltimore worsened.

Shopfronts were vandalized, patrons assaulted and businesses looted by crowds of protesters carrying #blacklivesmatter signs.

So far, 12 people have been arrested in connection to the violent protests.

 

March Durable Goods Report Shows Slowing Economy

U.S. core capital goods orders, a measure of hard goods being ordered from manufacturers, fell again in March.

So-called core orders excluding aircraft and military goods fell 0.5%. Shipments of core capital goods, a category used to help determine quarterly economic growth, dropped 0.4% in March

February’s numbers were in the negative as well and combined with March could signal a stagnant or reversing U.S. economy.

Economists cut first quarter growth to just above 1 percent or lower, with Amherst Pierpont Securities now forecasting absolutely no growth at all.

Military and aircraft orders showed an increase which offset the consumer drop in goods orders.

 

It’s time for hard assets

waste_of_money

waste_of_moneyI spend a great deal of time sorting through PMI reports, GDP releases, key corporate financials and more – at this point – I’m just moving money into hard assets.

Cash is not a hard asset. It has no intrinsic value – only that assigned to it by an arbitrary entity.

Gold does not feed a hungry person or keep a cold man warm. It is .. just a soft metal that looks “perty.”

Ultimately, if things get upside down – which they are likely to do – tangible assets will be the most useful.

Tangible assets are things that have value regardless of an arbitrary government entity saying they are worth something. Chickens have value, cows, guns, ammo and whiskey all are worth something because there is a demand for them – not simply because the government says some piece of paper with a president on it is worth a buck.

I am not telling you that the end is near – who could know that?

I’m just saying that if you are concerned, cash in the bank may not be yours much longer and the government has confiscated gold before. This time, go hard.

Megyn Kelly Tells Whiney College Kids to “Suck it up”

Magun on cupcakes

If you go through life thinking that everyone should agree with you – you’ve got another thing coming. Your parents and friends should have told you from time-to-time that your views aren’t the only ones that exist and you have to listen to and understand others. Megyn tells a few snobbish collegiates to buck up or back off. Actually, she told them to “Suck it up, cupcake!”

‘Killing Jews is Worship’ Sign Now Legal in New York

Killing Jews is Heavenly

A Federal judge has ruled that bus and subway signs saying “Killing Jews is Worship that Draws us Closer to Allah” are legal and free speech.

The second part of the sign says “That’s his Jihad. What is Yours?”

Killing Jews is HeavenlyThe sign is a public information campaign by the American Freedom Defense Initiative in response to recent aggression by Islamic extremists and Islamic states like Iran that have the crystallized vision of a world without Christians, Jews, Israel or America.

First off, the AFDI understand the Islamic extremists better than our own public officials. They are clearly stating the goals of Islamic extremists and trying to make sure that other Americans get the picture.

Political correctness zealots have been trying to portray the effort as an anti-Muslim campaign. The judge ruled that the ad campaign is not anti-anything and can go forward.

Obama Lunches Suck – School Chefs Skirt Regs to Feed Kids

school-lunch-michelle-obama

school-lunch-michelle-obamaMichelle Obama’s lunch menu sucks and the “lunch lady” lobby joins the rest of America in telling President Obama’s wife where she can stick her terrible food.

The LA Times reports that the ingredients school cooks are forced to use are terrible:

A school system’s nutritional director finds there’s one advocate for healthy food whose demands she just can’t meet — Michelle Obama.

 

 

“We have tried every noodle that is out there,” said Gitta Grether-Sweeney, the Portland nutritional director who says she is exasperated by the federal school lunch rules the first lady champions.

 

 

“Whole-wheat noodles just don’t work in lasagna. We are having to go lawless to use regular pasta.”

The locally sourced macaroni and cheese the schools had been serving turned to mush when it was made with whole-grain macaroni to meet the new rules, Grether-Sweeney said.

Mrs. Obama has the advantage of having her children in expensive private schools and fed by well-paid White House chefs. Professing from the balcony that America’s kids should eat crappy food just seems kind of …. crappy.

Congratulations! We’ve Managed to Repeat History – Greater Depression Incoming

Soup kitchen depression

Soup kitchen depression

With businesses struggling, a run on ATM’s, banks and other cash deposits, central bank calling back cash and every day people defaulting on every day credit – yeah, another global depression might be closer than thought.

Americans are suddenly defaulting on their personal debt at an alarming rate. Heck, even the American icon Colt is considering some form of bankruptcy.

Greece just pulled back every single bank’s reserve cash stockpile – just to keep them solvent. It won’t last long and the Greek people will soon want their money from those banks that now have no way to refund it. Bank run!!!!  (it’s not a new movie)

What’s going on in America?

Well, banks are starting to put in cash controls, businesses are struggling to increase sales and energy stockpiles are growing from a lack of consumption.

Bank of America now charges a “cash handling fee” if a business or individual deposits a lot of cash.

Chase is reportedly forbidding its customers from storing cash in safety deposit boxes or using cash to pay bills:

As of March, Chase began restricting the use of cash in selected markets, including Greater Cleveland. The new policy restricts borrowers from using cash to make payments on credit cards, mortgages, equity lines, and auto loans. Chase even goes as far as to prohibit the storage of cash in its safe deposit boxes .

 

 

In a letter to its customers dated April 1, 2015 pertaining to its “Updated Safe Deposit Box Lease Agreement,” one of the highlighted items reads: “You agree not to store any cash or coins other than those found to have a collectible value.” Whether or not this pertains to gold and silver coins with no numismatic value is not explained.

Petroleum reserves grew another 5.3 million barrels even though production has slowed. Companies aren’t using as much energy to make/grow, transport, package and sell their goods because demand is dying – consumers are flat broke and running out of credit.

Producer after producer, company after company is reporting dropping top-line numbers.

Top line revenue represents money coming in before expenses – and it is dropping RAPIDLY.

Construction giant Caterpillar has had 28 months of declining sales.

The only choice American companies have is to reduce expenses to meet the reduction in income. People and services (advertising, cleaning, driving, inventory management, sales, etc) are their greatest expense and are going to take the brunt of the hit while companies are forced to get more competitive.

The way companies meet the need for efficiency is through automation – not hiring. The HUGE U6 unemployment figure is just the start as Google, Amazon and other monopolistic giants hire armies of robots to do the jobs Americans used to do – but it is necessary.

Asia has Alibaba and soon other nations will have something similar. That’s global competition.

Google may struggle with international relations and Chinese regulatory obstacles. A Chinese firm, Baidu, is replicating the Google model and is able to include billions of Chinese consumers while Google is shut out of the EU due to regulation and relegated out of Asia due to the great Chinese Firewall.

Consider the Chinese controlled and funded Asian Infrastructure Investment Bank (AIIB) which replaces the IMF and World Bank in the global community, it won’t be long until the Chinese can ignore the rest of the world completely (especially the U.S.)

As China’s numbers keep coming in so weak, one has to imagine – what happens if both America and China’s economies go south .. right.. fricking .. now?!?

Kind of hard to imagine this happening without a plan… just .. so .. hard.

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