An IBD editorial mentions the kind of news items that won’t be making the New York Times’ front page: Chinese steal thousands of secret documents from defense contractor’s computers, and a member of the US Joint Chiefs of Staff announces that the US intends to develop methods of retaliation for such attacks.
In outlining America’s cyberwarfare strategy last Thursday at the National Defense University, Deputy Secretary of Defense William Lynn disclosed that 24,000 sensitive files containing Pentagon data at a defense company were accessed in a cyberattack in March, likely by a foreign government.
He didn’t disclose the identity of that government, but in a bit of an understatement he acknowledged, “We have a pretty good idea.” So do we: the People’s Republic of China. In addition to conventional and nuclear weaponry, China has invested a great deal of time and treasure in what is known as “asymmetrical warfare” — the ability to exploit an enemy’s weakness rather than just try to match it tank for tank. …
Marine Gen. James Cartwright, vice chairman of the Joint Chiefs of Staff, said the Pentagon must shift its thinking on cybersecurity from focusing 90% of its energy on building a better firewall. “If your approach to the business is purely defensive in nature, that’s the Maginot line approach,” he said.
He was referring to the French fixed defensive fortifications that were circumvented by the Nazis at the outset of World War II. “There is no penalty for attacking (the U.S.) right now,” he added. We need the ability to retaliate and the will to do so. Call it mutual assured hacking after the deterrence doctrine of mutual assured destruction (MAD) during the Cold War.
The British Province of the Society of Jesus (the Jesuits) is clearly determined to raise a great deal of money. The Jesuits have arranged to sell to the British Library for £9m ($14.3m) the oldest surviving European book, the Stonyhurst Gospel, St. Cuthbert‘s own copy of the Gospel of St. John, a 7th century manuscript originally buried with the saint on the island of Lindisfarne in 687.
Lindisfarne was depopulated of its monks when the Danes sacked the island in 875. The saint’s relics were carried away and moved from one location in the north of England to another over the course of the next century. St. Cuthbert was finally reburied in the “White Church” built in 995 as the predecessor to Durham Cathedral.
The manuscript was discovered in 1104 when St. Cuthbert’s coffin was opened in the course of transporting his remains to a shrine behind the altar of the newly built cathedral.
St. Cuthbert’s shrine was destroyed in the time of the dissolution of the monasteries under Henry VIII, and the gospel manuscript at that point passed into private hands. George Lee, the third Earl of Lichfield (d. 1772) is the first recorded modern owner. Lichfield gave the manuscript to Reverend Thomas Phillips (d. 1774) who donated it to the English Jesuit College at Liège on 20 June 1769. The manuscript has been owned since 1769 by the Society of Jesus (British Province) and was formerly in the library of Stonyhurst College. The manuscript has been on loan to the British Library since the 1970s.
Christie’s negotiated the sale, as a result of which the manuscript will continue to be displayed half the time at the British Library and the other half at Durham Cathedral, referred to in the news articles as (God help us!) a UNESCO world heritage site in Durham.
Twelfth century painting of St Cuthbert in Durham Cathedral.
St. Cuthbert (feast day: March 20) is the patron saint of the North of England and was England’s most popular saint in the period before the martyrdom of Thomas Becket in 1170. His banner was carried into battle against the Scots up to the time of the Reformation, and in the Middle Ages the inhabitants of the Palatinate of Durham were referred to as haliwerfolc “the saint’s people.”
Pictured above is a saltwater crocodile named Brutus, missing his right front leg, who regularly performs for tourists on the Adelaide River, about 100 km (60 miles) south of Darwin.
Adelaide River Cruises specially advertises jumping crocodile cruises, and the crocs (compensated with free meals of buffalo meat) obligingly perform. Brutus is estimated to be 5.5 meters (18′) long.
The photo has made a sensation, and NT News ran it past a number of experts who basically agree that it has not been Photoshopped.
I want to see the bigger one that took off that front leg.
Politico quotes Rep. Eric Cantor (R- VA) on the presidential temper tantrum that concluded the latest round of budget negotiations between the White House and Republicans.
Cantor said the two sides were too far apart to get a deal that could pass the House by the Treasury Department’s Aug. 2 deadline — and that he would consider moving a short-term debt-limit increase alongside smaller spending cuts — Obama began to lecture him.
“Eric, don’t call my bluff,†the president said, warning Cantor that he would take his case “to the American people.†He told Cantor that no other president — not Ronald Reagan, the president said — would sit through such negotiations.
Democratic sources dispute Cantor’s version of Obama’s walk out, but all sides agree that the two had a blow up. The sources described Obama as “impassioned†but said he didn’t exactly storm out of the room.
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Reuters adds a hilarious quotation from Mr. Obama.
U.S. President Barack Obama told Republicans at the conclusion of a stormy budget meeting on Wednesday that he would not yield further even if it puts his presidency at risk, a Republican aide said.
“I have reached the point where I say enough,” Obama said, according to the aide. “Would Ronald Reagan be sitting here? I’ve reached my limit. This may bring my presidency down, but I will not yield on this.”
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Bringing to mind a skit broadcast a few months back by Jay Leno:
Inevitably, we learn that Algernon has exceeded his very generous allowance and run up massive debts. There is no possibility that Algernon can ever meet his obligations. Disgrace, dishonor, and debtors’ prison loom as gloomy prospects.
Young Algy has consequently returned to the family home he previously despised to beg his disappointed and estranged parent to intervene to save him. The scene is easily pictured. There is the sad, but still loving, grey-haired pater familias. There is the slightly crest-fallen, but still arrogant, young Corinthian. The father is theoretically willing to retrench and mortgage the estate and sacrifice for long years to come to save his son’s honor and keep him from prison, but he naturally considers himself obliged to make such assistance conditional upon genuine repentance and a complete break with the young man’s bad associations and pernicious habits.
It turns out, of course, that his life of iniquity in the fleshpots of the metropolis has coarsened young Algernon and fed his arrogance. Algy feels completely entitled to the life he has led, and has plans underway for even more ambitious forms of debauchery. Algy regards his father’s estate as already his own, and simply demands that his father assume responsibility for all his current debts and increase his allowance.
Sadly, the unhappy father explains that meeting even the current obligations Algernon has assumed is impossible with the income of the entire estate. To pay Algernon’s debts, land must be sold, the manor-house rented to strangers, tenants evicted and the commons converted to new enterprises to increase income. The entire family will have to curtail its expenses and live on a much more restricted scale for years.
But the wicked and ungrateful Algernon refuses to hear any of this. He bangs his fist on the table, abuses his father, and demands everything he asked for.
Sadly, the father explains that his son’s attitude, his hardened habits of iniquity, and his lack of responsibility make rescuing him impossible. As an alternative to prison, the father can only offer him a boat ticket to Australia and a small remittance for so long as he remains out of England.
Smiley is played by Gary Oldman in the new film, a role Alec Guinness took in the 1979 television adaptation. People will ask, but I wouldn’t for one minute allow myself to compare Guinness with Oldman. Gary has an extraordinary command of himself as an actor. I’m hypnotised by his performance: he steps right outside himself. With Oldman, you share the pain and the danger of life more, the danger of being who he is. It’s a much tougher Smiley, with – here and there, as it is in most of us – a little cruelty.
That’s not in any way to diminish Alec: they’re just different beasts in different products. The original story was adapted for television in seven episodes. The film has to tell the story again with a great deal less sentiment. The ethics and the affections have shifted: it’s sexier, grittier.
Stephen Marche, in Esquire, delivers the kind of tribute to Obama that carries a double-edge.
[E]ven if you disagree with him, even if you hate him, even if you are his enemy, at this point you must admire him. The turning point came that glorious week in the spring when, in the space of a few days, he released his long-form birth certificate, humiliated Donald Trump at the White House Correspondents’ Dinner, and assassinated Osama bin Laden. The effortlessness of that political triptych — three linked masterpieces demonstrating his total command over intellectual argument, low comedy, and the spectacle of political violence — was so overwhelmingly impressive that it made political geniuses of the recent past like Reagan and Clinton seem ham-fisted. …
Reagan was able to call upon the classic American mythology of frontiersmen and astronauts and movie stars; Obama has accessed a much wider narrative matrix: He’s mixed and matched Jay-Z with geek with Hawaiian with Kansan with product of Middle America with product of a broken home with local Chicago churchgoer with internationally renowned memoirist with assassin. “I am large, I contain multitudes,” Walt Whitman wrote, and Obama lives that lyrical prophecy. Christopher Booker’s 2004 book The Seven Basic Plots, a wide-ranging study from the Epic of Gilgamesh on and a surprisingly convincing explanation for why we crave narrative, reduced all stories to a few plots, each with its own kind of hero. Amazingly, Barack Obama fulfills the role of hero in each of these ancient story forms.
While Obama’s story is ancient, it is also utterly contemporary, perfectly of the moment. His gift — and it is a gift that makes him emblematic — is that he inhabits all these roles without being limited by them. He has managed, miraculously, to remain something of an outsider while being the president of the United States of America, the most inside man in the world. He’s African-American, but he’s not African-American. He’s from Chicago, but he’s from Hawaii. One month he’s bailing out the banks, the next he’s keeping Gitmo open. He pushes health-care reform through with an unimpeachable heave of will then extends the tax cuts. He walks smiling through the newly opened White House garden on his way to announce renewed efforts at oil drilling in the Gulf of Mexico. Meanwhile, his “balanced” approach to the economy has led to a slower recovery than other industrialized nations and the war in Libya has been half-assed at best, which is exactly what war cannot be. For two years, he seemed disingenuous and defensive, pushed into roles that his predecessors had scripted, alternately playing savior then monster. But no more. We can finally see who he is, we can finally understand the reality: In 2011, it is possible to be a levelheaded, warmhearted, cold-blooded killer who can crack a joke and write a book for his daughters. It is possible to be many things at once. And even more miraculous, it is possible for that man to be the president of the United States. Barack Obama is developing into what Hegel called a “world-historical soul,” an embodiment of the spirit of the times.
The Wall Street Journal thinks Mitch McConnell’s “Eat Your Own Darn Peas” manuever is an appropriate way to end the stalemate in the absence of good faith negotiating intentions from the other side.
The debt ceiling is going to be increased one way or another, and the only question has been what if anything Republicans could get in return. If Mr. Obama insists on a tax increase, and Republicans won’t vote for one, then what’s the alternative to Mr. McConnell’s maneuver?
Republicans who say they can use the debt limit to force Democrats to agree to a balanced budget amendment are dreaming. Such an amendment won’t get the two-thirds vote to pass the Senate, but it would give every Democrat running for re-election next year a chance to vote for it and claim to be a fiscal conservative. …
The entitlement state can’t be reformed by one house of Congress in one year against a determined President and Senate held by the other party. It requires more than one election. The Obama Democrats have staged a spending blowout to 24% of GDP and rising, and now they want to find a way to finance it to make it permanent. Those are the real stakes of 2012.
Even if Mr. Obama gets his debt-limit increase without any spending cuts, he will pay a price for the privilege. He’ll have reinforced his well-earned reputation as a spender with no modern peer. He’ll own the record deficits and fast-rising debt. And he’ll own the U.S. credit-rating downgrade to AA if Standard & Poor’s so decides.
We’d far prefer a bipartisan deal to cut spending and reform entitlements without a tax increase. But if Mr. Obama won’t go along, there’s no reason Republicans should help him dodge the political consequences by committing debt-limit harakiri.
[T]he two political parties are diametrically opposed on recession-fighting policy. The Republican recipe to “boost growth” is to lower tax rates and regulation, and the Democratic recipe is to “invest” in stimulus spending. For Republicans, “structural economic policy changes” means reform Social Security and Medicare; for Democrats it means raise taxes.
There is no “agreement.” There is only a game of chicken to see who blinks first before August 2.
But we are conservatives. We do not just want to “win;” we want to do the right thing. How do we get out of the recession?
The best way to understand a recession is this: It is a period of adjustment during which the malinvestments of the previous boom are liquidated. Usually, in our era, booms are ignited by cheap money injected into the credit system by government. Cheap money seduces people into borrowing too much.
In the 2000s boom the malinvestments were the homes that millions of people bought with cheap credit, courtesy of Fannie, Freddie and CRA. Homebuilders expanded and sucked a ton of workers and capital goods into homebuilding. Everything looked good until interests rates rose and home prices started to decline.
You know what happened next. “Malinvestment” became nightmare investment, as the greedy bankers foreclosed on millions of homes, and home prices cratered.
But at some point the foreclosures will ease up, bottom-feeders will buy up the flood of houses, and home construction will resume.
The logic of Democratic “stimulus” is that if government shovels out enough money it will tide the economy over the crater. Home prices will recover, businesses will revive, and growth will resume. But what if home prices don’t recover before the stimulus runs out?
Back in 2009, the Obama administration made a judgment, implicit or explicit, that the housing crisis would be over in a couple of years, and that cheap money (QE1 and QE2) and a trillion dollar stimulus program would tide the economy over till then. But they were wrong. The housing market still hasn’t bottomed out, and the economy hasn’t snapped back, as this chart demonstrates.
The Obama mistake was bad enough but the Obamis made a second error. Assuming that the economy would revive in accordance with Baldrick’s cunning plan, they went ahead with their plans for expanding government spending and regulation, spraying money at their deserving supporters. They thought that the economy would soon be strong enough to increase the weight of government. With ObamaCare they increased the weight of government in health care. With regulation, spending, and subsidies pushing green energy they increased the weight of government in energy production.
That’s where the slick assumptions in Cohn’s “increase short-term deficits in ways that boost growth” kicks in. Suppose your “short-term deficit” doesn’t boost growth? Suppose it is just another wasteful government program that increases the weight of government, and postpones the day when happy days are here again?
That’s where the Obamis are sitting right now. They have shot their bolt with cheap money and stimulus spending and cranked up the National Debt by 40 percent. But here we are in Summer 2011 and there is still no light at the end of the tunnel.
To fix things the Obamis would have to adopt the Republican agenda and reduce the weight of government. They would have to repeal ObamaCare, reverse their green energy boondoggle, lower tax rates, and cut wasteful government spending.
You can see the problem. For the last 40 years, ever since the “unexpected” success of Reaganomics, liberals have been telling themselves and everyone else that supply-side economics is a mirage. Now they have to admit that everything they believe is wrong.
For the second time in some of our lifetimes, the American voting public has been treated to a full-scale, practical test of left-wing, Keynesian economics in operation. We saw all this before in the latter half of the 1970s.
Barack Obama’s great leap forward to the shiny new American European-style welfare state has turned a political version of Bernard Law Montgomery’s WWII Operation Market Garden, Obamacare being the “Bridge Too Far.” But the economics of the world of reality is actually a less forgiving, and much more formidable adversary, than the Germany Army in the Fall of 1944. The Allies went on to win WWII. Obama will be going to join Jimmy Carter in the ashbin of history and will soon be Carter’s rival for the title of worst president anyone can remember.
The Vincent Motorcycle Company went out of business in 1955, but many people think even today that Vincents are still the most beautiful and desirable motorcycles ever built.
There is a ballad sung by Richard Thompson to the 1952 Vincent Black Lightning.
