Friday, March 5, 2021

You probably know that there’s been an uptick in random, clearly race-related attacks against Asians. I’m under the impression that all, or most, of the attackers are black. Here’s a representative story:

The claim is that this is all Trump’s fault because he insisted on saying that the Wuhan flu originated in Wuhan, China. He also made it clear that he thought that the Chinese government, even if it didn’t create the virus in a lab or lose control of it, nevertheless deliberately lied about it and sent its citizens abroad to spread COVID. By saying such things, assert leftists, Trump turned Asian people into targets.

Let me restate that fine argument: The black people who presumably hate Trump (because of the media’s and Biden’s Fine People Hoax), nevertheless believed Trump implicitly about China’s responsibility for the virus. Then, despite Trump never having said a word about Asian people in America or in any way encouraging violence against them, these Trump-hating blacks took it upon themselves to get revenge against China by pushing over elderly Chinese people.

The media clearly think black people are idiots. Or they think Americans generally are idiots to believe that story. The fact is that it’s the leftist Americans (Democrats, progressives, socialists, etc.) who are that stupid if they believe this kind of media crap.

Allow me to tell you what’s really going on here: Blacks dislike Asians because they resent them. Incidentally, Asian immigrants, being incredibly racist in their home countries, despise blacks, whom they view as an inferior race. This Chinese commercial is Exhibit 1:

You can find Exhibits 2 through infinity across all of Asia if you spend just a few minutes looking. When I was growing up, the Chinese-born parents of my friends, all of whom liked me, nevertheless made it clear that their child’s friendship with a white kid was permissible only because, with the girls, these were obviously mere friendships while, with the boys, they were obviously nothing more than friendships. Nothing would have enraged them more than if I’d been dating one of their sons.

But this post isn’t about Asian immigrants looking down on blacks or whites. It’s about why blacks dislike Asians: It’s because Asians show that the black problem isn’t slavery; it’s culture.

Starting in the 1970s, Chinese immigrants began to pour into America. Coming from a communist country they had nothing. They didn’t speak the language (or anything related to the language) and they had no real marketable Western skills. They squeezed multiple families into cramped slum apartments and took whatever hard, dirty work came their way.

Oh, and they demanded that their children do well in school. That was the Number 1 thing: Do well in school. And the Chinese kids did exactly that.

After doing well in K-12, they went to state colleges and universities or, if they were super smart and very lucky, got scholarships to prestigious colleges and universities. They worked hard in higher education, aced their classes, got great jobs, and bought houses in the suburbs where they moved their hardworking parents and grandparents. They were model minorities: Minimal crime, incredible academic performances, good jobs, increased affluence.

Things are different among blacks. Ever since the Civil Rights Movement, blacks have sneered at academia. If you want the details, read John McWhorter’s Losing the Race: Self-Sabotage in Black America. In it, he details a culture in which doing well in school and staying out of trouble is “acting white” and a bad thing.

This is the mindset BLM advances: doing math, being ambitious and punctual, working hard, being respectful — those are all signs of white, cultural imperialism being used against blacks. The fact that blacks could do those very things themselves and succeed is irrelevant. What matters is that across the activist black world, in the schools among the kids, and in the streets among the gangs, the message is relentless: Hard work and other behaviors that lead to academic and professional success are the internalized self-loathing that comes from systemic white racism.

Put another way, the message that is now writ large across America thanks to BLM is that black failure is white people’s fault because white people put unreasonable demands on blacks. We’re told that, because of the dislocation of the slavery that ended 160 years ago, and because of the genuinely systemic racism of the Jim Crow era (which only a small proportion of people still experienced) , blacks can’t be expected to perform up to white standards. Only a racist would expect that.

But then you have these Asian people, tiny, speaking a foreign language, navigating a completely alien culture, often living in the same slums as the black people — and damn their hides, they’re mastering the system. Their kids do great in school and the families amass wealth. It proves that, no matter the grim circumstances in people’s backgrounds, through those despicable “white” attributes (hard work in school and out), they can succeed.

In the last 30 years or so, the successful Far Eastern Asians (mostly Chinese and Korean) have been joined by the South Eastern Asians from the Indian subcontinent, who are, on average, the highest-earning people in America. Their culture also puts enormous stress on academic achievement and it pays off.

I’ll share a little racist secret with you: I think blacks are every bit as capable as whites or Asians, or pinks or greens, for that matter. There is nothing inherently wrong with blacks. Genetically, they’re people who live on a bell curve like everyone else, with a broad spread of physical and mental talents.

What’s wrong with blacks is that, since the 1960s, they’ve allowed white Democrats to impose upon them a culture of failure and to convince them that this is their natural, inherent black culture. When they see Asians arrive without even the advantage of speaking English and then do well, it infuriates them. Rather than confronting their Democrat puppet masters about the racist lie being used against them, they take out their rage on the nearest convenient objects. These “objects” happen to be fragile, elderly Asian people, whom they smash to the curb as the only way they can think of to lash out at an unjust system.

These frustrated blacks, trapped in a cycle of poverty and crime, are right that the system is unjust but that injustice isn’t because of those innocent Asian victims. It’s unjust because white elites in the Democrat party and their black kapo enforcers in BLM and the race hustlers in the media are running an ugly, obscene con job on blacks to keep them in a perpetual state of servitude. The goal is to ensure that Democrats can rely on black’s loyal votes in perpetuity.

And the really big Democrat joke on the blacks is that, having attained total federal power, the first thing the Dems are doing is opening the border and giving citizenship to 30 million illegal Latin Americans. These are the people who compete with poor blacks for jobs and housing, and who will make black votes irrelevant. The Democrats will have all the votes they need from the new Hispanic population.

Democrat efforts to use and abuse blacks ended with slavery and Jim Crow. However, they eventually figured out that they could control blacks completely with a vicious, destructive simulacrum of kindness that would destroy them, turning generations of young blacks into mindless people committed to violence and dependent on the government. And once these grievously manipulated people had fulfilled their Helter Skelter purpose of destroying America’s successful economic, social, and political culture, the ruling class could abandon them in favor of the easier-to-manage Latin Americans, who haven’t yet learned to bridle at doing menial labor for the Nancy Pelosis and Joe Bidens of this world.

But back to the Asians, there is something that might console these blacks who are brainwashed enough to think that it’s the Asians, not the Democrats, who are their enemies. Asians invariably send their kids to college. In the last 20 years, colleges have become so wacked-out with Wokeness and identity-politics, that their children are getting deeply propagandized, just as surely as blacks have been.

Asian children, instead of feeling superior and accomplished, are being taught that they’re victims. And once they learn that, they’ll fail too, just like all the other identity groups the Democrats demean and exploit.

And that’s why there’s an uptick in black violence against elderly Asian people.

Biden Administration Has ‘Manufactured’ Crisis At Border, ‘By Design’

Former ICE Director: Biden Administration Has ‘Manufactured’ Crisis At Border, ‘It’s By Design’

By Daily Wire News

•

Mar 3, 2021 DailyWire.com

Former Acting ICE Director Tom Homan slammed the Biden administration during a Fox News interview on Monday over the unfolding crisis on the U.S. southern border, saying it was “created” by the administration and that what is happening is not an accident.

When asked by Fox News host Brian Kilmeade about whether former President Donald Trump was responsible for the crisis on the border, Homan said that he was not.

“Let me address the statement made by Secretary Mayorkas that there’s not a crisis,” Homan said. “That that’s very disturbing, because when he was a deputy secretary in 2015, Jeh Johnson, the Secretary, I met with them numerous times a week to talk about the border crossings, how many are crossing, how many being detained, how many be in ordered to be removed. And the threshold we set at the time Brian was a thousand. A thousand crossings a day was a bad day, it was a crisis. And now we’re dealing with 4,000 a day, four times what he considered a crisis back in 2015.”

“He is not bringing truth to the American people,” he continued. “There is certainly a crisis on the border that is manufactured and which created by the Biden administration because of their promises that they’ve made and the enticements that they’ve made to the people.”

Homan later added that the crisis on the border did not happen “by accident,” but “by design.”

“You don’t have to be border expert to realize when you make those type of promises, and on top of that, Brian when we give you free health care, when you make those type of promises, they’re going to come and they knew when they said these things, it was gonna cause a border crisis,” Homan said. “They have folded to the progressive left. And it’s just incredible.”

DHS Secretary Mayorkas “made a statement yesterday that President Trump gutted the system,” Homan added. “Are you serious? He, as the secretary of Homeland Security, he has more immigration judges, he has more agents, he has more border technology, he had agreements that no other president was able to get. If anybody’s gutted the system, it’s they’ve gutted the system the last four weeks, and we see what happened. We went from historic lows to crisis unprecedented. That is what they have done.”

Saturday, February 27, 2021

The Stock Market Is Getting Weird

Francis Scialabba

All three major US indexes tumbled yesterday as investors prepared for a wave of economic growth.

You might think that sentence needs to be fact-checked, but in fact it has zero Pinocchios. Bloomberg explains what's going on:

"From stocks to bonds and commodities, traders are moving in sync on the belief that the most ambitious vaccination campaign in history is about to supercharge economic growth and unleash price pressures that have long been dormant."

Let's analyze the bond market

Perhaps not the best intro line on Hinge, but it’s crucial for understanding what's currently happening in the stock market.

Investors are dumping bonds, sending yields (which is your return on a bond) higher. Much higher. This month alone, the yield on the 10-year Treasury note has gained the most in four years. Yesterday, it touched a one-year high above 1.6%.

Rising yields are spooking the stock market for a couple reasons:

It shows that investors are generally worried about inflation (whether they should be or not). Remember, Fed Chair Jerome Powell said this week he wasn't concerned that inflation would spiral out of control.
The more a bond yields, the more it competes with stocks. Yesterday, the yield on the 10-year note briefly surpassed what's known as the S&P's "dividend yield," a threshold investors use to measure the relative attractiveness of stocks vs. bonds. Right now, it's a tight contest.

Tech stocks are getting hit especially hard

Shares in companies like Amazon, Microsoft, and Tesla, all of which thrived at the height of the pandemic, are becoming less attractive in this brave new stock market world. "Value" stocks like utilities, which may have less growth potential than a high-flying software company but are also less risky, are gaining more favor.

Some perspective before we move on: The Dow hit a record high on Wednesday, and the S&P is less than 3% below its all-time high.

Coinbase, Meet Nasdaq

CRYPTO

Coinbase, Meet Nasdaq

Coinbase filed yesterday to go public through a $1 billion direct listing on Nasdaq. Last week, The Block reported that Coinbase shares recently exchanged hands in the private markets at an implied valuation of $100 billion.

If that holds, it’s just shy of the record valuation for a US tech company going public (Facebook). If Coinbase tops FB’s $104 billion, it will take the record.

The nine-year-old cryptocurrency exchange’s S-1 filing is exactly what you’d expect from a nine-year-old cryptocurrency exchange. Satoshi Nakamoto scores a mention on the first page; Coinbase also says unmasking the pseudonymous creator(s) of bitcoin could harm its business. Finally, the remote-first company lists “address not applicable” as its headquarters.

By the numbers (data from end of Q4 ‘20)

The total value of crypto assets on Coinbase’s platform = 11.1% of the total market cap of crypto assets
$456 billion has been traded on Coinbase over its lifetime; $90 billion of assets are stored on the platform
Coinbase has 43 million verified users

Zoom out: We’ll leave you with this graph, which tells its own story.

Coinbase/SEC