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A PATH TO WISDOM: DO THE OPPOSITE OF ROUSSEAU

I've written often about Thomas Paine (1736-1809), one of my favorite historical figures. I thought this week as a counterpoint I'd write about one of my least favorite figures... his 18th century contemporary, Jean Jacques Rousseau (1712-1778).   Being against reason, science, civilization, individual liberty, and self-discipline, Rousseau's thinking has been at the root of much of the psychological, political, and cultural trouble of our time.  It has specifically popularized a philosophy of emotions that has done and continues to do great harm. While ideals of individual liberty, natural rights, representative democracy, and private property were growing in influence throughout the west, Rousseau argued against them. When Rousseau sent his friend Voltaire a copy of his second Discourse, Voltaire began his brilliant reply, "I have received, Monsieur, your new book against the human race."   Which is why one clear path to wisdom is to ignore his baneful influence completely.

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THE TWO LAWSUITS THAT COULD DESTROY OBAMACARE

"The ordaining of laws in favor of one part of the nation, to the prejudice and oppression of another, is certainly the most erroneous and mistaken policy," said Benjamin Franklin. "An equal dispensation of protection, rights, privileges, and advantages, is what every part is entitled to, and ought to enjoy." But it's been tough sledding for equal protection of the laws these last five years. The president alters at his whim laws passed by Congress, exempting some, but not others, from Obamacare provisions. His attorney general won't prosecute civil rights offenses -- if the victims are white. Pennsylvania's attorney general won't prosecute bribe-taking politicians -- if they are black. The scofflaws could be reined in -- if plaintiffs prevail in lawsuits which got hearings in courts in Washington D.C. last week.

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WAS SEIZING CRIMEA WORTH WRECKING THE RUSSIAN ECONOMY?

Capital flight from Russia has spiked dramatically since President Vladimir Putin first sent troops into Crimea and may reach $70 billion over the first quarter of the year, prompting fears that the country may soon have to impose capital controls to stem the loss. "It is shocking," says Bartosz Pawlowski from BNP Paribas. "Markets have been extremely complacent, fooling themselves that Russia is invulnerable because it has almost half a trillion in foreign reserves. But reserves can become almost irrelevant in this sort of crisis." Lars Christensen from Danske Bank says the authorities may resort to some form of financial coercion to lock down funds in Russia. "Capital controls are a serious risk, and should not be discounted. Whatever now happens, there has been permanent damage to the Russian economy because investors are not going to forget this lightly." The US and the EU are ratcheting up the pressure each day following a spate of sanctions last week on Mr. Putin's inner circle. The latest example came Monday (3/24), when....

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EXPOSING THE CROOKED SHYSTER JOURNALISM OF THE WASHINGTON POST

"The biggest lease holder in the northern Alberta oil sands is a subsidiary of Koch Industries, the privately-owned cornerstone of the fortune of conservative Koch brothers Charles and David," began a lengthy story in the Washington Post March 20. "The finding about the Koch acreage is likely to inflame the already contentious debate about the Keystone XL Pipeline," said reporters Steven Mufson and Juliet Eilperin. Which was the purpose of a two page "report" issued by the International Forum on Globalization, on which the Post story is based. "IFG's intention is to demonstrate the Koch-Keystone connection," Executive Director Victor Menotti  told the Post reporters.  Which exists only in the feverish imagination of the far left group.   Here's the story of how the crooked left-wing shyster jouranlism of the Washington Post was exposed.

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THE “MONEY LAUNDERING” SCAM

To whom would you be willing to trust with all of your financial and tax information: 1) close family members; or 2) the U.S. government and foreign governments, including Russia? For the last several decades, global liberty-haters have dreamt that all financial privacy would be eliminated. They have sought out a variety of excuses to act as Peeping Toms peering into your bank accounts. In the 1980s, their big push was to enact "anti-money laundering" legislation, with the claim that it would make catching drug dealers and other assorted criminals easier. The United States passed its first anti-money laundering law in 1986 -- despite the fact that no one could objectively define "money laundering", because it is not an action but an "intent" to act unlawfully. As a result of all the global anti-money laundering regulations, total compliance costs for financial institutions are now in the hundreds of billions of dollars. Basic banking and other financial services have been reduced and even eliminated for tens of millions of people around the world. Have all of these regulatory costs done any good?

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ARE BANKERS BEING SUICIDED?

Investment banker Kenneth Bellando, 28, was found dead March 12 on the sidewalk in front of the apartment building on Manhattan's East side where he lived. Police think he jumped from the roof of the six story building. A former investment bank analyst at JP Morgan, Mr. Bellando had been working at Levy Capital since January. His brother, John, is a chief investment officer at JP Morgan. Mr. Bellando is the 11th financial professional -- the 4th with ties to JP Morgan -- to die mysteriously in the last two months. One of them, American Title Services president Richard Talley, 57, was found dead in the garage of his home in suburban Denver Feb. 7. Police have ruled his death a suicide.  Mr. Talley shot himself in the head and torso eight times with a nail gun, police said. That's tough to do  Suicide or suicided?

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HALF-FULL REPORT 03/21/14

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Who's the Prankster now? Zero issued his first set of "punitive sanctions" against the Kremlin on Monday (3/17).  They were so wimpy the liberal New York Daily News called him "Putin's Patsy" - denouncing him as "hapless, helpless and hopeless in facing down Russian strongman Vladimir Putin's annexation of Crimea." The banner headline on Drudge was Russia Laughs at Obama ‘Sanctions' - Calls Him ‘Prankster'.  Yesterday (3/20), Zero issued his second set of sanctions.  Nobody is laughing in the Kremlin today.  That's because they are for real, targeting Putin's Inner Circle - the guys who hold Putin's "personal purse strings."  Right in tandem yesterday, Merkel and the EU announced they were placing asset freezes on these same guys.  As the HFR has been predicting for the last two weeks, the strategy is to bankrupt Putin personally, seize his stash of billions.  That is now underway. And the Russkie response?  I can't resist adjusting Fox's headline:

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THE 1974 OBVERSE

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Are you ready?  Are you ready?  History is about to change direction.  That a self-declared "rebel on the right" street artist named Sabo created this poster, then plastered it on streets in Beverly Hills over last weekend, is one indication.  Pictures of it went instantly viral on the Web, then went viral on stilts when Cruz tweeted his response:
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Even the HuffPo was in awe of Cruz's perfect sense of humor, calling it "incredible."  Cruz then sent a signed poster back to Sabo, inscribing, "The fight for liberty never ends."  Say goodbye to a Republican Party being run by Rino squishes.  Here's the Pub Party of the future.  Cruz is cool.   Welcome to 1974 in obverse.

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CHINA DEFAULT?

China faces the biggest property default on record as credit curbs threaten to break the housing boom, leaving a string of "ghost towns" across the country. The Chinese newspaper Economic Daily News said Xingrun Properties, in the coastal city of Ningbo, is on the brink of collapse with debts of $570m, mostly owed to banks. The local government has set up a working group to contain the crisis. "As far as we know, this is the largest property developer in recent years at risk of bankruptcy," says Zhiwei Zhang, from Nomura Securities.  "We believe that a sharp property market correction could lead to a systemic crisis in China, and is the biggest risk China faces in 2014. The risk is particularly high in third and fourth-tier cities, which accounted for 67% of housing under construction in 2013." Yu Xuejun, the banking regulator for Jiangsu province, says developers are running out of cash. This risks undermining land sales needed to fund local government entities. "Credit defaults will definitely happen. It's just a matter of timing, scale and how big the impact is," he said.  The charts below tell the story.

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IGNORING THE GLOBAL WAR

The "news" is resolutely out of context.  A subject about which virtually nothing is known - the mystery of the missing airplane - gets saturation "coverage," while events of potentially earth-shaking importance are largely unreported. Any self-respecting "news network" would relentlessly run stories about the ongoing demonstrations from Caracas to Maracaibo - demonstrations surely the equal of those from Maidan Square in Kiev - but no. The Venezuelan uprising may turn out to be the biggest story of all, because it is part of a world-wide battle that pits anti-Western tyrannies against their own people, and against their neighbors.  It is of a piece with Ukraine, Syria, Iraq, Egypt, Lebanon, Iran and Russia itself, where, just a few days ago, fifty thousand Muscovites demonstrated against Putin's imperialist moves in Ukraine. I've been saying for years that we're the target of a global war, that the Pyongyang-Beijing-Moscow-Tehran-Damascus-Havana-Caracas  Axis of Evil is hell-bent to dominate and destroy us.  Now the evidence is so clear that only a willfully blind man could fail to see it. 

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