Europe Is Paying for the Mistakes of the Past

by: the Common Constitutionalist

We are well aware of the many ISIS or ISIS inspired attacks throughout Europe. It is interesting that since the rise of ISIS, these attacks appeared directed at the European infidels and not just the long-proclaimed enemy of Islam – Israel.

Not that there are continuing attacks on the Jewish state – there are as there have always been. But recently they have taken a backseat to the mass carnage inflicted upon Europe and the United States by the Islamic State.

But why? Hasn’t it always been the number one cause of Muslims to avenge the oppression of the poor displaced Palestinians and drive the Jews out of Israel and into the sea? Has that not been the clarion call of all Muslims since 1948?

Heck, even individual European nations as well as the EU have, for want of a better term, conspired with Muslim nations and terrorist organizations to take down Israel.

For decades, “Europe had a cushy arrangement – all the world’s jihadists were so fixated on Israel that they were willing to overlook long-standing hatreds against ‘Crusader’ Europe, as long as Europe would help them wage war on Israel.” read more

Podcast – The British Take Their Country Back – A Liberal Websites Honest Reporting on Guns

In this episode I discuss Brexit, the exit of merry old England from that socialist cesspool known as the European Union. Despite the dire predictions from elites the world over and the leftist press, the British people still pulled the lever for sovereignty. From that day forward, anything negative that occurs in England will be blamed on the stupidity of the British people. How dare they wish to govern themselves!

In segment two, I am stunned by a relatively equitable and honest accounting of guns, gun violence and gun owners by a liberal British website. Congratulations to the Guardian for having the courage to actually listen to gun owners and NRA members and report on the interactions fairly. read more

My WND Weekly Exclusive

PUTIN’S SECRET WEAPON: REFUGEE MIGRATION

The backlash from citizens in Europe over the influx of refugees is already overwhelming. Anti-migrant nationalism is growing rapidly – and whether it is or is not proper, it is completely understandable, considering the circumstances. The residents of several European countries feel abandoned by their leaders, as the welfare of the migrants appears to trump their own. And in most cases this is 100 percent accurate.

The leftist leaders of several EU nations just couldn’t help themselves. Their political correctness demanded they demonstrate to the world how much bigger their hearts were than their brains. And as we know, this demonstration manifested itself in allowing hundreds of thousands of unvetted refugees to pour into Europe. read more

Muslim Refugees Are Pawns of An Extortion Racket

by: the Common Constitutionalist

For quite some time others and I have been saying that the flood of refugees into Europe and America was for a variety of reasons, but least among them is the war raging in Syria and Iraq. Yet this is the sole reason given by the left both here and abroad. These poor Muslim refugees are trying to escape the ravages of war. How dare we or the Europeans deny them entry.

We’ve written countless articles documenting the march of “refugees,” passing countries by as they attempt to reach the richest destination – the nation with the most generous handouts – destinations like Germany, Belgium and Sweden.

But now is there is confirmation of yet another diabolical plot to flood Europe. It’s an extortion scheme cooked up by the nation of Turkey.

Evidently Turkey has been taking in Sunni Muslim refugees for close to four years and just recently, over the past year, begun releasing them into Europe. “The vast majority of the 886,662 migrants who illegally entered Europe this year embarked from Turkey, a little over half of them Syrians who took shelter in the country over the past four years.” read more

Renewable Disaster

I’ll remind you; if you wish to see our future, just gaze across the pond.

It’s not the floods or any other natural disaster.

It’s a self-inflicted disaster, caused by trying to cut CO2 emissions 80% by 2050.

Even Germany is beginning to realize that it can’t continue to support renewable energy.

The accompanying chart shows that the cost of electricity is far higher in Europe than in the United States.

EU vs US costs for electricity and natural gas. From the Economist Magazine

This disparity in the cost of electricity can only get worse if Europe continues with its current low-carbon obsession. The German Association of Energy and Water (BDEW), for example, predicts that electricity prices will increase another 25%. “Thomas Vahlenkamp of McKinsey reckons that the cost of the Energiewende will double over the next decade.1

Continue Reading

Here’s the October Surprise!

Obama cuts deal with Iran over Nukes

from: WND

Iranian and U.S. negotiators have reached an agreement that calls for Iran to halt part of its nuclear program in exchange for the lifting of many of the U.S. sanctions against the Islamic regime, according to a highly placed source.

Iran’s supreme leader, Ayatollah Ali Khamenei, expects a letter from President Obama in a few days guaranteeing the details of the agreement, arrived at recently during secret negotiations in Doha, Qatar.

The source, who remains anonymous for security reasons and is highly placed in Iran’s regime, said that once Khamenei receives Obama’s guarantees, he will authorize an announcement by Iran on a solution to the nuclear crisis before the U.S. presidential elections.

The agreement calls for Iran to announce a temporary halt to partial uranium enrichment after which the U.S. will remove many of its sanctions, including those on the Iranian central bank, no later than by the Iranian New Year in March. Iran is in the throes of massive inflation and citizen unrest because of the sanctions.

French intelligence verified today that Yukiya Amano, the current director general of the International Atomic Energy Agency, has been given the go-ahead by the U.S. to be ready to travel to Iran and announce the agreement, according to Hamid Reza Zakeri, a former intelligence officer in the regime who has defected to Europe.

The source in Tehran said Khamenei has made it clear that unless he receives Obama’s written guarantees, he will not begin the process, which would dramatically boost Obama’s re-election chances. If the guarantees are not given, Khamenei has warned, Iran will speed up its nuclear program.

The guarantees would ensure the regime’s right to peaceful enrichment, quickly remove many of the sanctions, accept that Iran’s nuclear program does not have a military dimension and relieve international pressure on the regime while it continues its nuclear program. Also, the U.S. would announce that the killing of Iranian nuclear scientists was the work of a foreign country, though Israel would not be named, to increase legal pressure on Israel.

According to the Iranian source, a previous Obama letter to Khamenei indicated that it’s best for the regime not to give any motive to Israeli Prime Minister Benjamin Netanyahu’s government to attack Iran’s nuclear facilities, a message that was re-emphasized in the Qatar negotiations.

As reported exclusively by WND Oct. 4, a three-person delegation led by a woman on behalf of the Obama administration traveled to Qatar about Oct. 1 and met with Iranian counterparts, including Ali Akbar Velayati, the former foreign minister of the Islamic regime and a close adviser to Khamenei on international matters.

In the meeting, according to the source, the U.S. delegation urged an announcement, even if only on a temporary nuclear deal, before the U.S. elections to help Obama get re-elected. A Romney presidency, the delegation said, would surely move more toward Israel, and the Iranians were reminded that Obama has stood up to Israel against any plans to attack Iran. The regime’s delegate was urged to understand that if Iran does not stand by Obama, Israel will attack Iran.

Days after the WND report, Ali Akbar Salehi, the regime’s foreign minister, in an interview with the German magazine Der Spiegel, stated, “If our right to enrichment is guaranteed, we are prepared to offer an exchange.”

The same message was relayed by several other officials of the regime.

U.S. Secretary of State Hillary Clinton said recently in Kazakhstan that the sanctions can be lifted immediately if Tehran worked with world powers to address questions about its nuclear program.

In the Qatar meeting, according to the Iranian source, the American woman delegate, who has had several meetings with Velayati during the past several years, jokingly told Velayati that she will be the next secretary of the Department of Housing and Urban Development in a second Obama administration and that it would be wise for Iranians to invest in U.S. real estate.

In the past five months, four meetings were held in the U.S. with the Islamic regime’s surrogates to hash out what was to be discussed at the Doha meeting. The source identified Valerie Jarrett, a senior Obama adviser (and radical), as the head of the U.S. effort to engage Iran. Also identified was Cyrus Amir Mokri, assistant secretary of the Treasury Department for financial institutions, as another member advising the president on the issue.

Jarrett’s family has known the Velayati family since their stay in Iran in the 1950s, the source added. Jarrett’s father worked at the Namazi hospital in Shiraz, owned by an Iranian family that has been influential with the regime after the Islamic Revolution.

WND contacted both the U.S. State Department and the White House, asking about the Doha negotiations, who led the delegation from the U.S., whether Obama will provide the written guarantee, what negotiations the U.S. has pursued on its own and what is known about Amano’s plan to travel to Iran for the announcement.

The State Department declined to respond to multiple calls as well as email inquiries. A spokeswoman said the White House would not comment.

The European Union, which increased sanctions on Iran last week, fears back-channel negotiations between the Obama administration and Iran will leave it out. EU leaders are seeking to send a group of representatives from seven European countries to Tehran to strengthen their position with the regime over the nuclear program and their economic interests.

The Iranian currency, meanwhile, has hit another historic low, falling to 43,000 rials to one U.S. dollar. As reported recently, a secret memo by the Intelligence Ministry to regime officials has warned of major riots in Iran due to dire economic conditions.

Another internal report by the government’s Economic Commission indicated that government foreign currency reserves will run out in the coming months and that it will have difficulty meeting payrolls for public employees who could lose 50 percent of their pay.

Many within the Iranian opposition believe that if the West continues to pressure the Islamic regime and supports the aspirations of the majority of the Iranian people who resent the regime and its ideology, the regime will face a nationwide uprising and will collapse from within, changing the geopolitics of not only the region but the world.

However, if the regime is provided a lifeline for whatever reason, not only will it get the bomb but it will take Iranians and the world hostage for decades to come, they believe.

And an, oh by the way: An Oct. 8 WND report revealed another secret nuclear site in Iran. The regime’s nuclear scientists have successfully completed testing of a neutron detonator and have nearly completed design of a nuclear warhead.

Now, let me see a show of hands who think Iran will live up to the agreement after the election. You’re a moron if you raised your hand. Maybe they’ll tape it to the top of a warhead.

Could this be a more obvious attempt by Obama to win reelection? It is and he is despicable.

How Depressing

Another shoe falls in Europe. Note the references to similar events in early 1930’s Europe which just happen to lead to the rise of a certain German promising to lead them back to prosperity. It’s a bit of a dry and cumbersome read, but important.

The French Depression

Ambrose Evans-PritchardBy  of the UK Telegraph

His tragically-misguided budget offers no strategic plan to reverse — or even to stop — thirty years of slow national decline. He offers no worthwhile measures to slim the Leviathan state, now a Nordic-sized 55% of GDP (Gross Domestic Product), without Nordic labour flexibility or Nordic free markets.

He does not tell us how he will stem the slide in France’s share of eurozone exports over the last decade, down from 17% to 13%, or what he will do about the disastrous swing in France’s trade balance from a surplus of 2.5% of GDP to a deficit of 2.4% since 1999.

He proposes nothing credible to restore France’s viability within EMU (Economic and Monetary Union), or to stop public debt spiralling beyond 90% of GDP. Instead he has served up the most drastic retrenchment in forty years, at the worst possible time, and in the worst possible way. And markets are supposed to applaud?

The budget will tighten discretionary fiscal policy by 2% of GDP next year into the teeth of deepening depression, without offsetting monetary stimulus or exchange rate relief.

Mr Hollande likes to quote Leon Blum, the Popular Front leader of the interwar years. The reality could hardly be more cruel. He is replicating the disastrous deflation policies of Labour Chancellor Philip Snowden in 1931, before the Labour Party woke up to the delicious possibility that you could lift two fingers to the forces of reaction and leave the Gold Standard.

Worse yet, he is perilously close to re-enacting the desperate deflation decrees of Pierre Laval — an ex-Socialist dreamer, pacifist, and utopian who lost his way, and ultimately cleaved too closely to foreign ideologies — and like Laval he is doing so to uphold a fixed exchange system that is slowly asphyxiating his country and no longer makes any sense.

His budget is pro-cylical error of the first order, carried out to meet an EU (European Union) deficit target of 3% of GDP that has no economic logic and is plucked out of thin air to meet bureaucratic tidiness and enshrined like so much other idiocy into EU treaty law. The certain result will be hundreds of thousands of lost jobs.

“To save the dogma of single currency, they are imposing absurd hyper-austerity on France,” said Marine Le Pen from the National Front, France’s unlikely apostle of Keynesian doctrine.

France now joins Italy, Spain, Portugal, Greece, Ireland, and parts of Eastern Europe in synchronized tightening, with the Netherlands and Belgium cutting too, all dragging each other down in a 1930s style slide into the political swamp.

Mr Hollande has not been entirely passive. He threw his weight behind the Latin revolt earlier this summer, forcing German Chancellor Angela Merkel to sanction mass bond purchases by the European Central Bank. This would not have been possible in the Merkozy era, when Nicholas Sarkozy sacrificed all else on the altar of the Franco-German unity.

But he has not followed through and there were in any case two quid pro quos to this deal with Germany. One was that Spain and Italy must submit to Troika Hell before the ECB (European Central Bank) buys a single bond. The second was that France must submit to fiscal Hell.

Mr Hollande has his own motives for bowing to austerity demands. He learned the lesson as an aide to François Mitterrand that you cannot deviate too far from Germany if you share a currency peg. There will be no repetition of 1983, the epic U-turn or `tournant de la rigueur’.

He may judge it tactically clever to get his recession out-of-the-way early in the electoral cycle. If so, it is a very risky strategy.

Professor Jacques Sapir, director of the École des hautes études en sciences sociales in Paris, says the more likely outcome is a downward economic spiral, pushing the declared numbers of jobless from 3m towards 4m — and the real number to 6m — by the end of next year. The economy will not spring back of its own accord this time because the contractionary structure of EMU has jammed the mechanism.

Prof Sapir fears global markets will turn on France with “full fury” before long, at which point, events will slip entirely beyond political control. “François Hollande is making a dangerous bet that he can only lose,” he said.

The French economy has already been in quasi-slump for five quarters. Dominique Barbet from BNP Paribas says the latest crash in the manufacturing PMI (Purchasing Managers Index) to 42.6 — the lowest since April 2009, and lower that at any time in the dotcom bust — is “potentially alarming”.

Indeed it is. Data collected by Simon Ward at Henderson Global Investors shows that a key leading indicator of the money supply –`six-month real M1 money’ — is now contracting even faster in France than in Spain. The shock will hit over the winter. “The budget looks increasingly misguided and self-defeating,” he said.

Mr Hollande thinks his budget will safeguard jobs. The fiscal burden will fall on the rich with a top tax rate of 75%, and on industry. Barclays Capital says three-quarters of the total will come by raising revenue, with the taxes “front-loaded” while spending cuts are “back-loaded”. The ratio of taxes to gross wages will rise to an all-time high of 46.3%. (Finance ministry estimates). [ Notice that like in the U.S., tax hikes always come first with hollow promises of mythical spending cuts later, that, of course, never materialize.]

Harvard Professor Alberto Alesina says this flies in the face of all we have learned about austerity. “The accumulated evidence from over 40 years across the OECD ( Organization for Economic Co-operation and Development) peaks loud and clear: spending cuts are less recessionary than tax increases,” he said.

France, above all, screams out for a blast of tax-cutting Thatcherism and pension reform. The IMF (International Monetary Fund) says the country’s “tax wedge” – or tax as a share of labour costs – is one of highest in the world at almost 50%.

Just 39.7% of those aged 55 to 64 are in work, compared with 56.7% in the UK and 57.7% in Germany. Early retirement incentives are to blame. “French workers spend the longest time in retirement among advanced countries,” says the Fund.

France coasted through the last decade, losing 20% unit labour cost competitiveness against Germany as it screwed down wages and pushed through the Hartz IV reforms. French industry has been losing 60,000 jobs a year for a decade. Manufacturing has shrunk to 12% of GDP, as bad as Britain.

Renault chief Carlos Ghosn warned last week that France’s biggest car company would “cease to exist” in its current form unless there was a radical change in the country’s work climate. “Not over three or six months perhaps, but over three years, or five years, yes, the danger is real,” he said.

The whole economic structure of France is an anachronism in a Chinese world and a German currency union. “We are consuming the leftovers of a past prosperity,” says Jean Peyrelevade, ex-head of Credit Lyonnais.

Sovereign debt strategist Nicholas Spiro says growing doubts about the “credibility of French fiscal and economic policy” may soon bring Mr Hollande’s strange honeymoon to a close. It is a widely-shared view. Danske Bank’s bond team sees a “significant risk that the market will turn on France in 2013”.

Huw Pill from Goldman Sachs said the detonator may be activation of the European Stability Mechanism to bail out Spain and then Italy.

The potential ESM demands are too large for the “vulnerable core” of France, Belgium, and Austria. Their own fiscal health would come under the microscope. The shock would push them “from one equilibrium to another.”

Mr Hollande has swallowed the argument that drastic cuts are the only way to cap debt at 90% of GDP and keep the debt trajectory under control.

Yet we already know from Greece, Ireland, Portugal, and Spain that fiscal shock therapy makes little dent on the deficit without monetary shock absorber. It causes nominal GDP and the tax base to shrink, making debt ratios even worse.

France does not have to put up with destructive 1930s policies imposed by Germany. It is not a vassal state. It remains a great nation, the beating heart of Europe and the EU’s balancing force.

It can break out of this awful trap by leading a yet more determined Latin revolt, this time marshalling its voting majority in the Council to force an end to contractionary policies.

A French-led growth bloc can strike back by inflicting an intolerable level of inflation on Germany. It can, if necessary, cause the North Europeans to walk out of EMU altogether — the optimal solution for the North and South respectively.

For that, Mr Hollande must be willing to abandon the Franco-German condominium, the central tenet of French foreign policy for almost sixty years. The cautious, plodding Enarque from the Limousin is not the type for fireworks, but give him time.