Beyond the Cusp

February 25, 2017

Truth of Many Settlement Building Announcements

 

We hear so many explosive and purely emotional denunciations of Israeli plans, taking bids, deciding on finalists in bidding process, awarding of bid to build, initial surveying of area where homes are planned, bricks and cement are bought, then moved to the location and finally ground is broke to build, first families move in, more families move in and these families are happy and having children, also called making new settlers. At any point in the two to five year series of decisions, filings, bids, and an unbelievable amount of minutia take place so at any point along the line the last event or next event is dated to within three weeks more often than not. This means that at any point in time there can be an announcement concerning the building of settlements and a single construction could be used as many as ten or twenty or maybe even fifty times along its multi-year development, financing and finally ground breaking and actual Israelis moving in. So what, you are saying. Each is an opportunity to rev up demonstrations across Israel, Europe and campuses across the United States denouncing Israel for their dastardly deeds of building affordable housing for Jews.

 

Here is a dirty little secret the leftist, anti-Zionist, post-Modernist, secular Israelis who find the Jewish faith an outdated anathema and view the political right, which includes many religious and Zionist parties, as the enemy far more dangerous than the Arab and Islamic threats Israel faces. Just as in the United States, the Israeli leftists desire complete control and believe that those who do not support their socialist, anti-capitalist, pro-diversity and anti-Jewish State or do not support their view of Israel as a multi-ethnic, diverse, secular state are not only their political enemies but also as an evil group who desire the end of the world. They believe that religion is an outdated notion which needs to be crushed and thrown in the waste bin of history and their enlightened secular socialist view where they are granted universal power to enact their perfect society where they as our betters are obviously granted complete power. These are the people who make up much of the government working force, if not in actuality, at least sympathetic to these views and willing to support those who are pressing such using their power within the government. These individuals actually work against any conservative or nationalist governance ever elected because they were elected by those uneducated, religious bigots.

 

Thus whenever releasing news about building new homes, it matters not which stage, just anything which they can make into a press release which may embarrass the sitting government, and they push building homes beyond the Green Line into the storyline for the next day’s releases. Should releasing such information occur at the worst possible time, they release as many stories as they can find. This is what occurred during Vice President Biden’s visit almost a decade ago, in 2010, when the media reported that bids had been accepted. Bids had been accepted is not building homes, but Haaretz and following on in the leftist European media and on to the United States would carry the story and from there President Obama demanded blood as building during Biden’s visit was an offense demanding revenge. The Prime Minister is not able to prevent these announcements nor are the leftist media taking even the slightest of steps in the process used to destroy relations between Israel and the world. These attacks will continue for as long as the left is not in power and when they are in power they close down all building processes as their belief is that Israel should be a multi-cultural democracy where the Jews may not be a majority and might have to reside under Islamic rule. They firmly believe that even if Mahmoud Abbas were to become Prime Minister that the law would prevent him from persecuting Jews or anybody else because everybody has rights by law in Israel. For some reason most Israelis find such belief to be preposterously beyond belief for any thinking man, but then the left feel things and rarely think, especially when anything disagrees with their Pollyannish view that all of mankind are sweet, loveable, cuddly multi-culturalists who love all their fellow people. Their rose colored glasses make seeing anything which counters this impossible.

 

Israeli Flag

Israeli Flag

 

There is a single-mindedness by the Israeli extreme left which parallels that of the extreme left in the United States in that the Israeli left views Prime Minister Netanyahu and his government as the real enemy just as the left on the other side of the pond view President Trump and the Republican Congress as the real enemy of the state. In both cases there is nothing considered to be beyond the pale in achieving the goal of bringing down the government in power. In both cases there is an element of the left imbedded in the government bureaucracy itself which supports this internal form of revolution and are willing to disrupt smooth government function in order to attain their goal. In Israel this often comes in the form of making as many public announcements of even the slightest progress in the rather complicated and overly intense series of steps required to build even the most necessary of structures beyond the Green Line. Many of these steps were required during left wing governments from almost twenty years previous. These additional steps were required in order to allow these governments to restrict building by slowing approvals at each and every step along the winding route. Now this same long and winding set of requirements allows maximum announcements of approvals at every stage which are immediately met with leftist outrage in Israel, then Europe and then the United Nations and beyond around the rest of the world.

 

This ridiculous announcing the seemingly endless number of approvals step by intolerable step leading to a coordinated series of demonstrations by leftists world-wide brought about to place Israel and her building in what are referred to as settlements under the greatest scrutiny that President Trump may have been referring to when he inferred to Prime Minister Netanyahu that Israel should simply shut up and build and end these incessant announcements which open Israel to attacks and unnecessary censor by many world bodies. One can only guess at how Prime Minister Netanyahu felt knowing that he has little ability to prevent these unending series of announcements unless he is capable of streamlining the procedure thus not allowing for announcements at so many steps of the overly complicated procedure currently in place. That bring us to an old problem in that should the Knesset pass legislation streamlining the operational procedure for building beyond the Green Line, it is inevitable that leftist NGO’s, many financed almost entirely by the European Union and other European national governments, would take the passed legislation to the Supreme Court where it is quite likely to be overturned. The only good news is that there are steps being taken which could end the leftist monopoly of the Supreme Court and Attorney General’s Office as there is a religious Zionist in place as the Minister of Justice who is enacting changes currently. There is hope but only if the elected government presses that they should be the ones holding the ultimate power and not the unelected Supreme Court. If Israel is fortunate, the Supreme Court will be brought within the control and future appointments will be made by elected officials and not by a self-perpetuated fiefdom which was until of late under monopoly of the left. Such, contrary to the screaming by the European left, would be a victory of democracy as it would empower the people. The European left fears the Israeli people and prefers for the Tel Aviv elites to hold all the power and not the rabble from the periphery. The periphery is rising and now outnumbers the Tel Aviv and its suburban elites and they are realizing their power and will revel in making Israel their own. The Zionist heart is beating and healthy and Israel can only benefit in the long run even if it will be accomplished while European leftist protest gleefully but ineffectively. Now if we can just empower President Trump to ignore our leftists as he is doing at home. Fortunately, that should be an easy proposition when we finally manage quiet here in Israel.

 

Beyond the Cusp

 

July 10, 2015

Our Economic World is Shakier Than We’ve Been Told

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The mainstream media, especially the European Media, are all the news all the time covering the Greek economic meltdown. Some of the more honest media has also included the crises that could be soon to topple as if dominoes all in a row of which Greece is but the first domino to be tripped to fall and they have shown how Spain and Portugal would be precariously hanging and soon toppled partly as a result of Greece’s defaulting though it might be likely they would have fallen eventually all on their own. These would trigger a crisis in Ireland and Italy as to which would be the fourth victim and which would follow as the fifth victim signaling the end of the most endangered Eurozone nations too close to default to be comforting. The real horrific effect of these five weaker economies finally tripping the default cable and snagging the economic webbing, which has held the European Union and the Euro together since 1999, doing irreparable damage to the delicate webbing, more fragile than the most slightly laced spider’s web, tearing enormous holes in its intricate weaves slashing at the most vital threads and upsetting the ever so precarious balance that underlies its supporting structures threatening to unbalance and collapse even the previously though stable economies of France, Poland and many of the other east European economies possibly pushing them right to the cliff-face and potentially tipping them beyond the cusp and into default thus lacerating the last remnants of the Eurozone and possibly taking with them Germany and the ECB (European Central Bank) causing unimaginable damage to the financial structure of Europe and beyond, the ripple effect causing a second deep recession well more serious and taking longer to tank-out and hit bottom and then begin a long sluggish scent clawing for every single Red Cent and Dollar and Euro after having taken its toll on Asia and beyond. But the Euro, Greece, and the rest of the European Union and the Eurozone is but one whirlpool looking to sink every last economic boat.

 

The Euro is what we have been led to believe is the only threat. Where previously economic ships only had to worry about rising and falling tides, now they are adrift and facing not just one whirlpool representing the Euro dying, but now there is a second even more massive whirlpool coming from deep within Asia. China has hit the road’s end and is attempting to push its enormous mountain of debt using a garden trowel while piling on fresh debt using Caterpillar 990K series front end loader shoveling an additional $19.3 billion in an effort to end their three week slide totaling $3.2 trillion downturn in the past three weeks alone. These losses were the result of a Chinese Stock Market where as many as two-thirds of the stocks were frozen in a further attempt to stem the torrents of dollars flowing from their stock market and their economy like the icy waters which flooded the lower decks of the Titanic as she slowly but inexorably fell beneath the waves, something somewhat prophetic for the Chinese markets and economy. There is actually a comparison between the situation in Greece and the downturn in China as one must remember that Greece is as socialist as a nation can be without being either fascist or Communist and Greece has retained their spirit of a democratic Parliamentary system despite it all but China has taken socialism that one final step to communism, the addition of mostly state owned corporations and central planning of the economic engines and manufacturing. Chinese leaders had been attempting to liberalize their economic sectors, though not all of them, selling a number of previously State run businesses and even permitted competition between companies in the same market hoping this would charge their economy further and it had been working but even free-market economic liberalization was unable to stave off this meltdown. The problem obviously is what will this mean for the liberalization of the Chinese economy as the leadership are still Communists who serve the Party and depend on the Party, may decide that much of their financial woes are the result of these new policies and curtail or even reverse some or all of the liberalized companies, markets and take a giant leap backwards to increased government control over every iota of the economy and the manufacturing and sales etc.

 

United States Treasury Secretary Jack Lew commented Wednesday on the current crisis in China stating at the Brookings Institution, that the economies of the United States and China are “still pretty much separated.” In further testimony Secretary Lew queried, “I think the concern … it is a real one … is what does it mean about long term growth in China?” Further in his speech he pointed to the main potential impacts which could emerge as a result to the Chinese Stock Market bleeding financially leaving the leadership seeing ‘Red’ in more ways than one. The leading question is to figure out as soon as possible what the reaction of the leaders of the Communist Party is and whether they may decide that the problem dictates such as appointing new leadership, freezing prices, injecting even more dollars into the markets through the banks and state owned businesses or closing the banks and Stock Market for a week or two cool down and reset to normalcy again; the choices and potential marrying of any two or three makes predictions near to impossible. The one thing which can be computed and predicted as long as the numbers being released and any steps taken are done so in plain view then the impact of the Stock Market freefall on the Chinese economy’s core condition and whether it appears that it will have much elasticity and dynamics when the end is finally reached and the rollercoaster slides on in to the station signaling the end of the ride, and what a ride it was with vigorous growth only to drop who knows how large a percentage of that growth in this correction, and what a correction. Secretary Lew’s closing thoughts are worthy of being repeated as he emphasized, “The question isn’t their commitment to the goal; the question is the pace at which they implemented it, and do they do it fast enough for it to be effective. I hope this is not something that slows down the pace of reform. If the reaction is to put the brakes on reforms, that will slow that process.”

 

With China making a long overdue correction which will be far more severe than it should or could have been if the leadership was not so intent on what numbers they released to the world and on making their predicted economic increase and meet all targets set within the government as to fail was unthinkable and would have been a terrible loss of face thus undermining faith in the economy. This has caused the Chinese to follow the example first used by President George W. Bush and turbocharged by President Barack Hussein Obama which was in the old school simply called a ‘stimulus package’ but is now known by a more enigmatic phrase of ‘Quantitative Easing,’ either of which hides the actual result and method being implemented as who would stand for the government announcing they were devaluing the money supply and taxing every single American by a minimum percentage directly proportional to the percentage increase the total added funding was doled out in stacks of hundred dollar bills, literally thousands of such stacks in the United States and unknown amounts though what is known is the Chinese leadership pumped close to twice the percentage of GDP as did the United States. Just as the United States took their hit starting back in late 2008 and continuing through 2011 and briefly relieved with another round of ‘Quantitative Easing,’ this was like the third pitcher of beer at a table trying to drink their way sober. The economic burst from that mid and late 2011 ‘Quantitative Easing’ gave the economy a burst of hope which appeared to continue due to lowered interest rates and the paring down and mostly neutering of the Dodd-Frank Wall Street Reform Act gave the economy the needed push for President Obama’s reelection as he could run his campaign claiming to have turned the economy around and that great times lie ahead. Well, as far as that goes I’ll point to Greece and China and point out that the United States has followed similar patterns of fueling the economy and especially the Stock Market with borrowed monies and when loans were unavailable the Federal Reserve would electronically buy Treasury Bonds with funds they imagined into existence as a few strokes on a Federal Reserve keyboard and one produces and completed sale with funny money in that the receipt for the Treasury Bonds was used to balance the books as it represented the electronically derived cash used. This is a very convenient way to purchase items this way when you are the government or a very clever fraudster as just try using the sales slip from one register, say men’s clothing from a department store as cash at the Jewelry Counter and see how far that takes you. The catch, and there is always a catch, to ‘Quantitative Easing’ is that eventually you either have to pay back the money that was invented which can only be done some combination of these three methods, first is retire actual money from circulation which can also be done electronically by retiring any electronic payment made on credit cards, second is to remove the funds through higher taxes taking the money directly from the supply, and lastly one could raise the interest rates and siphon off a percentage of each loan to pay the Piper so to speak. The problem is that each of these methods actually hurt the consumer the most; it is the public that pays the price for the economic and financial misdeeds and ill-advised policies.

 

There are but a few redeeming features out of all of this and one serious and potentially unavoidable problem, and it is a big one. So, we will leave the bad news for last and the good news which will cause doom’s day to come and come quickly first. The best of news is that the meltdown in China is most likely to be relatively unfelt even amongst their Asian markets as China does not purchase many goods from outside and the few major needs she has will continue even if slightly abated, things essential like coal and petroleum. Further, the only nation carrying a trade deficit of any note is the United States and even should quotas be placed on any goods currently purchased from China will very likely have ten other sources with some popping up due to China cutting production. The European crisis is more likely to hit the United States harder than anything else on the economic horizon. Should the Eurozone break apart due to the collapse of several of their nations having financial difficulties and teetering at the edge of financial Armageddon plus one, Greece, which has in all honesty gone beyond the cusp and is currently running with his feet well away from solid ground just hanging there for that brief Wiley Coyote moment before collapsing into the darkness below only to make a small puff of dust rising depicting his hitting bottom. Even should the entire Eurozone collapse it may actually serve to keep a lid on inflation and allow for low interests rates, a necessity for the United States. That brings us back to the one thing that at first everyone would be glad to see, a real recovery with rising workforce participation which in the United States is down to approximately 63%, one of the lowest figures since the mid-1970s. This would also bring jobs, especially higher end job market opening up once again which would allow for a ripple effect. As the overqualified people working at menial or minimum wage jobs would leave those as jobs in their field became available and they gain employment thus making room for these other positions to employ more of the nations’ work force and soon inflation will return, something there has been no worry about as even the few months where such measurements showed a possibility for inflation to develop only for indicators to slide back the next couple of months with it often seeming like one big step forward and all promise breaking out only to be followed by three or four months of small to moderate steps backwards and everything gained to be lost and often more. When inflation does finally return for real then there will be a really bad situation. Once inflation starts to threaten then the interest rates will rise as a counter to inflation. Rising inflation takes a bigger bite out of people’s pockets all but actual theft. Inflation also helps with making the national debt somewhat more manageable by deflating the value of the currency taking the currency to new lows and the lessening to of the value of the debt and the purchasing power of that coinage. This was where Greece and the other nations in the Eurozone faced; they no longer had control over their coinage, their monetary worth so they were unable to simply lessen the value in order to get a handle on their debts and also make their nation more attractive to investors and new businesses. Perhaps leaving the Eurozone for a set period of possibly not less than two years and no longer than a decade or quarter century at which point they can reapply at the short end or must face a permanent decision at the longer end. Granted, this will possibly make some nations more reckless but the consequence is the only alternative to having the Eurozone nations turn their entire control of monetary and fiscal planning over to Brussels, they already control the monetary which is part of the problem, and most nations will refuse to be relieved of the power of the purse even if they are no longer able to control the coinage of said purse. Perhaps even a rotating schedule where every nation has to spend a decade using their own coinage would be another compromise. Until the Eurozone finds the answer they will be facing little impossible challenges as is Greece right now and others down the line. Let’s just hope their mistakes don’t become global economic-mines blowing the world markets haywire.

 

Beyond the Cusp

 

July 28, 2013

Of Likud and Republican; A Problem Shared

They say that misery loves company and should that be true then members of America’s Republican Party and Israel’s Likud Party have plenty of company. Both of these political parties have had a split from in their membership and both sides blame the other for any election misgivings and shortfalls. What makes things even closer between the two is in both cases the split pits political purists who hold tightly to high political standard that might be best described as the pure essence of their party in theory while the other faction claims to be practical realists who hold that high political morality is great in theory but practice demands that the party must be more open to a wider group and that compromise is paramount. In both parties the purists claim that they have been ignored and that they have not had a candidate who holds fast to their strict definitions of belief while the realists blame the purists for forcing the party too far from the center and costing them the so-called swing voters which are necessary in national elections.

In the United States the Republican Party has had a group from which has been defined as the Tea Party Republicans but might be best defined as Constitutionalists and Libertarians. These Constitutional purists hold strongly to individual freedoms as defined by the Founding Fathers in their letters, writings and the founding documents of the Declaration of Independence, the Constitution and the Bill of Rights. Their claim is that there are a multitude of voters who believe the same way as they do and that many of these voters are even more stridently defined and are willing to stay home on Election Day rather than vote for a candidate they feel is too compromised on their issues. The realists claim that the dogmatic purity is too restrictive and denies the party the support of middle of the political spectrum voters. The realists claim that the Republican Party needs to position their candidates just slightly more conservative than the Democrat’s candidate as this will position their candidate to pick up the centrist voters as well as the strident conservatives of all stripes as who else would such people vote for, the Democrat or some third party candidate? They claim to run a stridently conservative candidate would leave the party with high political morals but no vote totals and they doubt that third party candidates actually take that many votes away due to their reference to put forward a compromise candidate. The biggest disagreement between these two groups in the Republican camp is where their recent candidates for the Presidency stood on the issues, especially in the last two elections where they lost to the Democrat Party candidate, Barrack Obama. In both cases the purists claimed that both John McCain and Mitt Romney were members of the realist camp while the realists claimed that due to catering to the purists these two candidates appeared too far to the conservative and libertarian end of the political spectrum. Both sides claim that the candidates were chosen and ran as if they were the epitome of the other side’s idea of the perfect candidate. Obviously both sides cannot be correct.

In Israel, the Likud Party has had an even rougher time despite currently being the party in power. All one has to do to see the convulsions which have wrought through the Likud body politic is to review some of the up and coming and established Likud Party leaders over the last decade or so. It was from the Likud Party that Kadima was born when the realists’ extremes of the party felt they could no longer accomplish their desired policies and remain within the Likud Party. It was a Likud elected Prime Minister, Ariel Sharon, who divided the Likud Party by taking a fair number of the leadership and merging them with other opportunists from Labor and other parties to form a new party they named Kadima. Those who split and joined Likud claimed that their moderate views were not welcomed in Likud and that they really had little choice. Some of those who left Likud with Ariel Sharon, among others, were Ehud Olmert, Tzipi Livni, Shaul Mofaz, Meir Sheetrit, Gideon Ezra, Avraham Hirschson, Ruhama Avraham, Majalli Wahabi, Roni Bar-On and Omri Sharon. The main reasons for the divide was over whether Israel should carry out the disengagement plan and simply remove all Israeli presence from the Gaza Strip and turn the entire area over to the Palestinian Authority as a test case to give the Palestinians an opportunity to govern and prove their capabilities. Prime Minister Ariel Sharon carried out the disengagement and a short while later Hamas took control over the Gaza Strip in a violent coup which led directly to the rain of rockets and other terrorist attacks emanating from the areas Israel had vacated.

Despite the obvious failure of the disengagement as far as Israel is concerned and, oddly enough, as far as the Palestinian Authority was concerned, there is still a strong worldwide push to force another disengagement from Judea and Samaria turning the entire area over to the Palestinian Authority assuming that this time will work out better. What makes the push for finding a peace in which much if not almost all of the areas of Judea and Samaria, also known to the Arabs as the West Bank, is turned over to the Palestinian Authority is once again the issue that is splitting Likud onto two camps, one is the Zionist Camp which purports that Israel should simply annex the entirety of Judea and Samaria and set a method by which the Palestinians could apply and qualify as citizens in Israel while the other camp are the so-called realists who hold that the Palestinians cannot be granted citizenship in Israel for any number of reasons among which include the “demographic bomb which states that in thirty to fifty years the Palestinians will outnumber the Jews in Israel simply through natural reproductive growth, or the idea that Israel will find themselves in even a worse position where the rest of the world will impose a solution on Israel where they will lose everything and therefore a compromise must be found. Currently, the Likud led coalition is headed by Prime Minister Netanyahu who is working towards finding a path to making a treaty with the Palestinians where, according to rumors, Israel would retain the major Jewish settlement blocks which amounts to around fifteen percent of the lands of Judea and Samaria and the Palestinians would be allowed to form their state in the remaining eighty-five percent. This would entail the Israelis absorbing between sixty and eighty thousand Jewish Settlement refugees from the towns and farms that would be ceded to the Palestinians. As the lands of Judea and Samaria are a large portion of the traditional ancient Jewish-Israelite-Hebrews historic and biblical homeland, there are many who feel that relenting on these areas to be sinful and sacrilegious, tantamount to treason against the true faith of Judaism. One should be able to see that giving up lands whose name is Judea might be a serious compromise for a people and religion denoted by the name of Judaism.

So, what does the future likely hold for these two parties and their respective nations? First off, in the Likud the future is relatively clear in that the younger members of the party such as Danny Danon and Moshe Feiglin who are strident Zionists and favor Israel retaining all of Judea and Samaria and offering the Palestinians who wish to remain and become Israeli citizens a methodology and plan to do so and for those Palestinians who would prefer to leave and live in the Arab world be given fair compensation for all of their properties and an additional payment to facilitate making their transition easier. This shifting towards a stronger nationalistic outlook also matches one of the trends within the Israeli population along with trending towards the populations as a whole becoming more religious. There is a real, visceral, tangible revitalization of Judaism taking place within Israel that is growing healthily in accord with nationalism. The window that we hear being bandied about as a limited time remaining in which forming a Palestinian state being possible is very probably an accurate assessment but for reason different than those stated. The problem is not that the two sides are growing more strident in their positions and thus reaching a compromise will soon become impossible as it is that a growing number of Israelis are beginning to realize that the Palestinians will never live peaceably even should they be granted their own state but will continue to use terror and pleadings to the world, especially Europe, to return all of the lands to them and remove Israel from the map. It really should not be a huge surprise as this has been the message shouted loud and clear from Palestinian society and the Arab World at large since before Israel was founded and it has never changed. The Israelis hear it constantly on Palestinian radio and television broadcasts, read it in Palestinian newspapers, journals, magazines, and their children’s textbooks, and it is evident on their maps which show all of the land as Palestine with no mention of Israel whatsoever. Likud will eventually become an almost purely Zionist Party as will other Israeli political parties and that will not be a contended position in elections. Likud also supports capitalism, free trade with other nations, smaller government, privatization of government run services and companies, and less regulations and restriction on business in general. Their main competitors in the political realm are all socialists of different stripes.

The Republican Party’s future is not quite as easily determined as there is not the generational split anywhere near as obvious as it is for Israel’s Likud Party. The Tea Party segments of the Republican Party are a growing sector which is still flushing out its organizational structure and thus will gain some more voice and strength in the immediate future. The challenge for the Tea Party members will be maintaining their higher than average level of involvement which is often found when a movement is in its early stages and still growing. There have been signs in some elections where the Tea Party has surprised the establishment and pollsters by winning what were termed upsets such as Bridenstine against Sullivan in Tulsa, Oklahoma and Ted Cruz in Texas, among others. The problem with predicting the future of political parties in the United States over doing so in Israel is an obvious one, size matters and the United States has size over Israel in every manner you care to measure with the exception as both nations have a similar number of Jewish citizens, for now. When one speaks of the Republican Party, there is a huge difference as you look at different locations. An example which makes this point is that if one compares a Democrat elected to the United States House of Representatives from Texas or Wyoming to a Republican elected to the same august body from Maryland or Massachusetts, one would likely find that the Democrat would be considered the more conservative of the two. That is why it is impossible to form an exact definitive description for a member of any political party in the United States and especially for the two main parties, the Democrats and the Republicans. Politics in the United States is a lot like real estate, what matters a lot is location, location, location. Still, the Republican Party will likely face a reformation of sorts over the next decade or two and a good prediction would safely contend that Republican candidates will become more aligned with the founding declarations of individualism, freedom, and less reliance on government. They will push for reforms that lessen the reach and purview of the federal government and push for empowerment of the individual states and even to local city and county governments. Any contributions from the Federal Government will be in the form of block grants and there will be less stringent restrictions on their use. Whether this resonates with the public remains to be seen but there is a high likelihood that should some of the over-bloated Federal Government programs, even some of the newest among them, become financially untenable that rather than allow for Federal taxes to rise close to if not over fifty percent, the people of both parties will demand somebody take a carving knife to the Federal budget and the programs it supports. This will be the result more of necessity than anything else but it is surprising how frugal people can become when their ability to survive is on the line. But, as we have said before, time will tell.

Beyond the Cusp

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