Archive for 2019

LGBTQ BOYCOTT IS A BOON FOR CHIK-FIL-A: Sales data shows advocates for boycotting Chik-Fil-A because the Georgia-based fast food outlet’s president expressed support seven years ago for traditional marriage might want to re-think their strategy.

“Sales for the quick-service eatery totaled $4.6 billion in 2012, the same year CEO Dan Cathy voiced his support for the Biblical definition of marriage and family, comments that caused proponents of gay marriage to call for boycotts,” Faithwire reports. “In 2018, sales reached an astounding $10.46 billion, making Chick-fil-A the third-largest restaurant chain in the U.S., right behind McDonald’s and Starbucks.”

KRUISER’S MORNING BRIEF: Trump Trolling Tuesday. “Much to my surprise, the little Swedish climate brat became even more tedious as Monday wore on. We’ve not been subjected to that kind of ubiquity on social media since the last time Hillary Clinton was caught fondling a mango at Whole Foods by one of her ‘neighbors’.”

#JOURNALISM, 2019:

WHEN AMERICA’S FIRST RED DIAPER BABY PRESIDENT IS NO LONGER RED ENOUGH: 2020 Dems Love Obama, Hate Obama’s Policies.

An NBC/Wall Street Journal poll released last week put numbers on what has long been a visceral cultural nostalgia for the 44th presidency. Ninety percent of Democrats hold a favorable view of Barack Obama today, compared with just 4% unfavorable (Bill Clinton, by contrast, is at 64/15). Sixty-nine percent hold a “very positive” view of Obama, up 8 percentage points over 2015. Most relevant, 78% say they are “satisfied” that the previous occupant of the White House “did as much as was possible at the time in addressing issues facing the country.”

So why, then, on issue after issue, are the 2020 Democratic presidential contenders staking out positions far to the left of anything Obama ever imagined — even while attempting to bask in his holy glow?

I’m not sure which, but it seems like there are two main possibilities. Either today’s Dems are convinced they can’t beat Trump and are letting their freak flags fly, or they think they can’t lose and see a once-in-a-lifetime chance to implement the far-left agenda Obama would have if he could have.

OTHER PEOPLE’S MONEY: Why the Repo Market Is Such a Big Deal — and Why Its $400 Billion Bailout Is So Unnerving.

The repo market seized up last week, with median repurchase rates skyrocketing from their usual band of 2.00-2.25% to 2.46% on Monday, and 5.25% on Tuesday. Keep in mind, that’s the median rate. Some repo rates were as high as 9%, more than quadruple the Federal Reserve’s own target rate, which usually puts a cap on how high Treasury repo rates could climb.

An unlucky confluence of events, including an exceptionally large demand for cash from U.S. companies that needed to pay their corporate tax bills, sucked a lot of the available cash out of the financial markets. What happened last week was any counter-party in need of cash, and only holding collateral like Treasuries, agreed to pay the much higher going repo rates. That’s supply and demand, plain and simple, and it mirrors what happened in certain repo markets in 2007 before the housing crash and the Great Recession that followed.

So, what happened to the usual abundance of cash and liquid securities that powers the trillion-dollar repo market?

In a word? Government.

KURSAT PEKGOZ IS A WARRIOR FOR MEN’S RIGHTS ON CAMPUS: He has done wonderful work attempting to hold colleges and universities responsible for what is often blatant sex discrimination in scholarships and other programs. Is that why, by letter dated August 28, 2019, the University of Southern California has dismissed him from its Ph.D. program in English Language and Literature? I worry that it might be.

SAVE GRETA: Forget saving the planet – we need to save Greta from the death cult of environmentalism.

Related: Scott Adams: A Message For Children About Climate Change. “Adults sometimes like to use children to carry their messages because it makes it hard for the other side to criticize them without seeming like monsters. If adults have encouraged you to panic about climate change without telling you what I am telling you here, they do not have your best interests at heart. They are using you.”