Gongol.com Archives: February 2018
Sen. John McCain's statement today is perfect: "The latest attacks on the FBI and Department of Justice serve no American interests -- no party's, no president's, only Putin's. The American people deserve to know all of the facts surrounding Russia's ongoing efforts to subvert our democracy, which is why Special Counsel Mueller's investigation must proceed unimpeded. Our nation's elected officials, including the president, must stop looking at this investigation through the warped lens of politics and manufacturing partisan sideshows. If we continue to undermine our own rule of law, we are doing Putin's job for him." Just because people don't understand the actions being taken against us doesn't mean they're not real. Just because we don't want to believe that we're susceptible to attack via means ranging from influence campaigns to cyberwarfare doesn't mean we're invincible. And just because it's easy to fall into a divisive and tribalistic culture of internal division doesn't mean we can sustain a republic that way. We need vigorous and intelligent debate, far-sighted approaches to big problems, and a sense that we can be of different opinions without being enemies of our fellow Americans. It's an offense against the republic that the President terrorizes law enforcement from his bully pulpit because of his own selfishness. And with members of Congress acting as accomplices through the release of a memo that the FBI asked them not to, we have a lot of people showing the moral backbone of jellyfish.
The head of China's Xinhua news agency is shown meeting with the prime minister of Laos to discuss "media cooperation". As Ely Ratner of the Council on Foreign Relations notes, "China exporting illiberalism and censorship in Asia. Expect much more 'media cooperation' under Belt and Road." If we're not a part of what's happening in the Asia-Pacific region, we shouldn't expect liberty and freedom to fill the void -- not with China's present leadership and the incentive structures they face. As Lee Kwan Yew of Singapore used to say, "To achieve the modernization of China, her Communist leaders are prepared to try all and every method, except for democracy with one person and one vote in a multi-party system."
It's a pretty dramatic decline, and a reminder that the stock market isn't the economy and the economy isn't the stock market. A one-day decline of 2% isn't sustainable and rarely reflects more than the animal spirits taking over the market. But in fairness, the stock market has been overpriced for a while, according to any conventional and rational sense of valuation.
Mark Zuckerberg, on a quarterly call with stock analysts: "We don't want to assess by ourselves which sources are trustworthy. I think that's not a situation that or a position that we're comfortable with ourselves." It's rather like Zuckerberg has never met anyone outside his immediate psychographic profile. This "wisdom of crowds"/techno-utopian mindset has to go.
Bank must replace four directors and hold its assets at the same level as punishment for the unauthorized-accounts scandal