Archive for 2024

THE BEE IS ON IT:

AND DON’T FORGET NGOS:

TAPPED OUT: Americans Are Falling Behind on Their Bills. Wall Street Is Alarmed.

Shares of consumer-lending companies slid this past week after executives raised warnings about lower-income borrowers who are struggling to make payments. Dour remarks from banking executives at the Barclays banking conference rattled investors, who were already on edge about the health of the U.S. economy.

Investors have been on high alert for any clues that a recession is in store after two years of higher interest rates. The Federal Reserve is expected to start lowering rates at its meeting this coming week, but some investors fear it might have waited too long.

Here is what bank executives are telling us about how people are faring.

On top of soaring prices for groceries and just about everything else, people have been dealing with higher interest rates on their credit cards. The average rate as of May was 21.51%, according to Fed data, up from around 15% in 2019.

That helps explain why some are finding it harder to keep up with payments, particularly those who don’t earn so much. Around 9.1% of credit-card balances turned delinquent over the past year, the highest rate in over a decade, according to an August report from the Federal Reserve Bank of New York.

The stories began over two years ago that inflation had run through our lockdown savings. Then came the stories a year or so ago that credit card debt and housing payments had hit new highs. So of course the next in the sequence was delinquencies.

Anyone taken by surprise can’t be trusted with anything more complex or breakable than Lincoln logs.

UPDATE (FROM GLENN): Then there’s the gaslighting.

“DON’T SAY THINGS WE DON’T LIKE AND MAYBE YOU WON’T GET SHOT AT” IS QUITE THE FLEX:

They truly are the propaganda arm of the State.

UPDATE (FROM GLENN):

FIGHT THE POWER: Women in Iran going without hijabs as 2nd anniversary of Mahsa Amini’s death approaches.

There’s no government official or study acknowledging the phenomenon, which began as Iran entered its hot summer months and power cuts in its overburdened electrical system became common. But across social media, videos of people filming neighborhood streets or just talking about a normal day in their life, women and girls can be seen walking past with their long hair out over their shoulders, particularly after sunset.

This defiance comes despite what United Nations investigators describe as “expanded repressive measures and policies” by Iran’s theocracy to punish them — though there’s been no recent catalyzing event like Amini’s death to galvanize demonstrators.

The country’s new reformist President Masoud Pezeshkian campaigned on a promise to halt the harassment of women by morality police. But the country’s ultimate authority remains the 85-year-old Supreme Leader Ayatollah Ali Khamenei, who in the past said “unveiling is both religiously forbidden and politically forbidden.”

“Reformist” is just for the Western press.

KRUISER’S MORNING BRIEFING: The Party of Joy Inspires Another Attempt On Donald Trump’s Life.

The public has been force fed the fiction that the Kamala Harris version of the 2024 Democrats are all about joy. It is, of course, a shiny object distraction from the fact that the woman is a shallow dullard who isn’t fit to be in charge of snacks at a book club meeting, let alone president of this once-great Republic.

In reality, the Democrats are sinister, bitter people who have a well documented track record of wishing illness and death upon people who don’t agree with them politically.

The response by Democrats on social media to this latest assassination attempt was, predictably, awful. They’re awful people, after all.

And they’re responsible for it, especially Kamala Harris.

Read the whole thing.

HMM, SOUNDS LIKE HE MAY HAVE BEEN WORKING WITH U.S. DIPLOMATS/INTELLIGENCE AGENCIES AS RECENTLY AS LAST YEAR: The man arrested for attempting to assassinate Trump was interviewed by the NYT last year for an article about Americans participating in the war in Ukraine. “I want to know more about Routh’s connections and activities.”

More: The Story Behind Trump’s Second Assassin Took a Strange Turn…and It Involves the Media. “In the interview, Mr. Routh said he was in Washington to meet with the U.S. Commission on Security and Cooperation in Europe, known as the Helsinki Commission ‘for two hours’ to help push for more support for Ukraine. The commission is led by members of Congress and staffed by congressional aides. It is influential on matters of democracy and security and has been vocal in supporting Ukraine. Mr. Routh also said he was seeking recruits for Ukraine from among Afghan soldiers who had fled the Taliban. He said he planned to move them, in some cases illegally, from Pakistan and Iran to Ukraine. He said dozens had expressed interest.”

ROGER KIMBALL: Democrats shouldn’t be surprised by Trump’s would-be assassins: They have been screaming for seven years that their chief political opponent is ‘Hitler’ or worse.

Related:

ROGER SIMON: Believe Melania. Don’t Trust the FBI! They raided her home and rifled through her underwear, but will probably “botch” this investigation. And by botch, I mean obfuscate.

Among other things, in our era we have had assassination after assassination —King, two Kennedys, a Reagan attempt, and now two Trump attempts—with details that in some cases may be extremely crucial hidden from us.

The FBI is at the center of this. We are not to trust them. The organization, as presently constituted, must be disbanded, our intelligence agencies along with them.

There’s a pattern here, and it predates Trump.

DON SURBER: Assassination Attempt Number 2. “Democrats have demonized and dehumanized Trump in a manner not seen since the days of Lincoln.”

Screenshot

#JOURNALISM:

Where we are in the media today:

Headline: “Here’s the deal with those false stories by Trump/the right”

Body content: carefully crafted content that either indirectly confirms the truth of those stories or shows that such claims are reasonable interpretations given the situation.

Yes.

EVERY INSTITUTION HAS BEEN CORRUPTED: The Supreme Court Trump Leaks Are Worse Than the Dobbs Leak.

First, this leak is far worse than the Dobbs leak. In Dobbs, one or more people exfiltrated a draft opinion from inside the Court, and somehow that opinion made its way to Politico. (Maybe Jodi Kantor can tell us how that happened!) It was devastating for the draft decision to become public, and it nearly led to the assassination of Justice Kavanaugh. But the aftermath of the leak was swift and overwhelming: the Court was placed on lockdown, and a sweeping investigation was launched to find the culprit(s). But the Trump leaks are systematic and thorough. We have insights of confidential memoranda, detailed conversations at conferences, KBJ’s changed vote, Justice Alito losing the Fischer majority, and information about many Roberts clerks were working on the case. This tapestry would require insights from so many different people. Moreover, all of this comes after the Dobbs leak when Chief Justice Roberts (apparently) put strict limitations on access to Court information. What did all of those measures accomplish? Apparently not much.

Second, and I alluded to this point in my earlier post, Justice Kagan is absent from this reporting. There is absolutely nothing about what she thought or did during these deliberations. There are insights into all of the other eight Justices, but nothing on Kagan. This isn’t new. Back in the day when Biskupic got the scoops, Kagan was also largely absent. I think it likely that Kagan, or at least Kagan surrogates, are behind these leaks. If Kagan is willing to publicly undermine her colleagues in a speech at the Ninth Circuit, why would she do any less off-the-record? Moreover, this entire story is consistent with Kagan’s MO, and describing the Court as bending over backwards for Trump. On that point, I would be willing to place a bet that the three Trump appointees rule against Trump in any election case that comes to the high court. Like in the tax return cases, Justices Gorsuch, Kavanaugh, and Barrett will gladly knock Trump off the scene and declare their independence. Would you take the opposite bet?

That’s probably the goal. Though ruling in a particular way to demonstrate your independence is the antithesis of independence. And doing it out of fear is just another species of corruption.

But if every institution has been corrupted, then every institution is corrupt. And if every institution is corrupt, how much loyalty do they deserve from the citizenry? And if the answer is “not much,” then what right does the current government have to exist?

THE NEW SPACE RACE: Landspace hops closer to a reusable rocket.

Chinese private space startup Landspace has completed a 10-kilometer (33,000-foot) vertical takeoff and vertical landing test on its Zhuque-3 (ZQ-3) reusable rocket testbed, including a mid-flight engine reignition at near supersonic conditions, Aviation Week & Space Technology reports. The 18.3-meter (60-foot) vehicle took off from the Jiuquan launch base in northwestern China, ascended to 10,002 meters, and then made a vertical descent and achieved an on-target propulsive landing 3.2 kilometers (2 miles) from the launch pad. Notably, the rocket’s methane-fueled variable-thrust engine intentionally shutdown in flight, then reignited for descent, as engines would operate on future full-scale booster flybacks. The test booster used grid fins and cold gas thrusters to control itself when its main engine was dormant, according to Landspace.

“All indicators met the expected design” … Landspace hailed the test as a major milestone in the company’s road to flying its next rocket, the Zhuque-3, as soon as next year. With nine methane-fueled main engines, the Zhuque-3 will initially be able to deliver 21 metric tons (46,300 pounds) of payload into low-Earth orbit with its booster flying in expendable mode. In 2026, Landspace aims to begin recovering Zhuque-3 first-stage boosters for reuse. Landspace is one of several Chinese companies working seriously on reusable rocket designs. Another Chinese firm, Deep Blue Aerospace, says it plans a 100-kilometer (62-mile) suborbital test of a reusable booster soon, ahead of the first flight of its medium-class Nebula-1 rocket next year.

SpaceX is trying to make Falcon 9 obsolete with Starship but the Biden-Harris administration keeps slowing them down. Meanwhile, there are several companies in China working to make Falcon 9 obsolete, presumably without hindrance from Beijing.

CDR SALAMANDER: The Attacks in the Red Sea Have a Pattern. “No Russian-owned ship has been attacked by Houthis while transiting the Red Sea for 10 months, with only one incident involving a Chinese-owned ship, according to an analysis of 83 attacks.”

Plus: “The question really shouldn’t be, ‘Why is China being given a pass’ as much as, ‘Why are 4th-rate non-state actors comfortable in challenging the free world on the high seas?’ Exploring that will bring wisdom.”