From 4/8/13

Margaret Thatcher
Mrs. Thatcher passed away this morning. A sad day. I admired her from the very beginning in 1979, when she rose to lead the UK as the leader of the Conservative party following the period known there as the “Winter of Discontent.” I lived there at that time and every week we had power for only four days. Three days were without power, due to the miners’ strike. The rest is history and I am not planning to repeat it here. She was the last of a dying, now dead, breed—a leader. A leader of a free world, a democratic, capitalistic world. Her revolution took the UK, the “sick men of Europe,” by the bootstraps and made it one of the better and stronger economies in the Western world even today twenty-three years after she left power. She cohabitated the world leadership position with Ronald Regan and they were very much alike: simple, not highly sophisticated intellectuals, but visionaries who knew to differentiate between good and evil and for the most part allowed good people, whom they chose, to execute their ideas.

In 1986, I had the honor of having lunch with her at 10 Downing Street. She was not a nice person. But she was a great leader.

Where are they now? We need them desperately.

The Wise Men of Chellem
In this well-known Jewish folk tale, the “wise” men always do things in the most stupid way. If there is a simple way to do something, they would always do it in the most complicated manner, and likely would not achieve the desired result.

Either I am one of them or the World Central Bankers are. The Japanese central bank joined the bandwagon of monetary “quantitative easing,” and at an unbelievable rate: approximately three times as large as the US Fed is doing (although they are starting late—and “need” to catch up). To add insult to injury, the IMF, this paragon of good practice in running economies, is welcoming and approving.
Are they all mad? Do they not know that this party will end in bucketsful of tears? How long can you cheat everyone by printing money? The stock market rise in the last few months is clearly a direct result of this huge injection of cash into the economy. It has NOTHING to do with reality, in spite of all the analysis you hear from other “wise” men.

Either I am a “wise man” from Chellem or the world will enter a bout of hyper-inflation sometime in the next few years.

America Projecting “Power”

  • North Korea (NK) is threatening nuclear war, in spite of threats from the U.S. to retaliate.
  • In response to the U.S.’s pleading with China to reign in NK, China is condemning all “friction” and “Territorial disputes” in Asia, (although it is behind them ALL).
  • Kerry is begging Turkey to keep its promise to Obama re: Israel, and Turkey is steadfastly rejecting it.
  • Iran is showing contempt at the efforts of the P5+1 and Kerry is saying, “there is still time for diplomacy.”
  • That is on top of his “stern” statement in a CNN interview two months ago with a roaring voice and full conviction that the U.S. will not allow the massacre of innocent civilians in Syria…two years and 80,000 dead people too late. What exactly is his definition of massacre if 80,000 dead does not qualify?
  • And the president? According to leaks, he is planning to cut ADDITIONAL amounts of the defense budget…yeah!

This is a crazy world and either I am wrong as I have been many times before, or things will not end well!