My generation... and how it ends

Cristina Fernandez and Nestor Kirchner, former Presidents (both) of Argentina, did not start their careers as gangsters. Yes, they ended as bosses of a well organized corruption gang that vacuumed hundreds of millions from Argentina coffers, but originally they were courageous members of the Juventud Peronista. Gladis D'alessandro and Chiche Labolita were a young couple in 1975 - he had been the leader of the Montonero group of Berisso (La Plata). They left the organization and lived in the underground, knowing that their chances were few. One day a girl appeared at their door and said: "I am Cristina, Lupin's companera". We invite you to live with us in City Bell. They shared Cristina's house, till the four were discovered and detained by the dictatorship. Cristina and Nestor were let go after a month, Chiche was tortured and disappeared. Gladis was liberated after being tortured and taken to a tour in the city to "mark" their friends. The Kirchners are bona fide Peronists, having spent time in the underground and jail during the military terror. How is that this idealist couple ended as they did (see post below how they organized Argentina's emptying)? I don't know.  

No Admission for Arab Terrorists

There is a large right-wing, anti-government, anti-refugee demonstration in Saxony, Germany. I am not German and have no firm opinion about it, but I find it remarkable that the iconic head of Karl Marx's serves for visual background.  

No more Palestinian refugees

How miraculously good it is that Hillary lost! Under Barak Hussein Obama and her State Department secretary Hillary Clinton, the US was subsidizing and artificially expanding the number of descendants of Palestinian refugees, and fueling endlessly growing claims against the State of Israel. Trump cut it off in one strike, thank God. 

State Dept.'s Nauert said the UNRWA agency’s “endlessly and exponentially expanding community of entitled beneficiaries is simply unsustainable and has been in crisis mode for many years.” The number of Palestinian descendants with claims has reached ten or fifteen million, and in one generation more it may reach thirty million, all expecting to live off international charity. 

The US used to provide 200 million dollars of UNRWA's 560 million annual budget. The EU gives about the same, and individual European countries make up the difference. The institution will not die easily, as European antisemitism will not disappear and with it, their desire to harm the Jews. But Europeans will have to pay more for their vice and that may extinguish their enthusiasm. 

The endless agony of Argentina

Yesterday there was a run on the dollar in Buenos Aires and the peso lost 15% of its worth. To stop the avalanche, the Central Bank offered 60% interest on Peso deposits. This is the second time this year, with the difference that this one comes after the generous support agreement with the IMF International Monetary Fund. Dujovne, the Finance Minister, travelled urgently to Washington to renegotiate the agreement and ask for more funds.

How this affects common people? Food suppliers have stopped deliveries to supermarkets because of the uncertainty of prices, cars are left without gas till the government announces the new price, all the unions are demanding salary raise, panic seizes the population that lives from payday to payday.

President Macri stands for re-elections in October 27, 2019. If he fails to stabilize the country's finances, the Peronists (see Cristina Fernandez de Kirchner pic) will replace him. Then the revenge of the Kirchner gang, that is being investigated and jailed these days (for organized sacking of the State), will be fast and furious.

In 1807 the British sent a fleet to incorporate Argentina, then called the Provincias Unidas del Sur, into their Empire. That was the last opportunity for Argentina to become a civilized and progressive country like Australia, New Zealand, Canada. The natives resisted successfully. Pity.

Bull Market on Tel Aviv Stock Exchange

Could it be that Israeli firms are worth so much?

Let me think.

Israel Water System Turned Upside Down

So once again we have a serious drought in Israel, our largest reservoir - the Sea of Galilee - is drying up. Soon we shall be adding desalinated sea water to keep it ecologically healthy and attractive for tourists. The basic structure of the Israeli water supply system, where the Kinneret served as long term regulator and reservoir, us being turned upside down. A revolution by definition. Yesternight we had a tropical storm, some water, very irregular for August. Somebody should look into it and say something substantial. I for one went to see the Israel Meteorological Service's site and they say there is no significant weather (!) See pic. Very peculiar. 

Jim Rogers says that the best sector to invest is in agriculture, that is dying all over the world. Japan farmers are pensioners, American farmers are not being replaced, etc. and ag prices are 25% down in the last thirty years. Farmers will be very rich, he says. He pushes his RJA Rogers Agricultural Index.  He also says that China/Japan/Russia stock exchanges are 30% lower than thirty years ago, they will rise. 

How recessions start? The last one started where no one was looking: Island's bankruptcy, and then ENRON's collapse. These days Turkey, Indonesia are in bad situation. Could they start the debacle? 

The Battle of the Smelt

Delta smelt used be common throughout the Sacramento-San Joaquin estuary until its water was diverted to supply the 25 million people and farmers who live in the area. Invasive species and changes in water salinity and clarity also played a role in the smelt’s decline. They were protected under the Endangered Species Act in 1993 and a recovery plan was established in 1996. The average population between 2000 and 2006 was 353 fish. That population crashed to just 25 fish the following year. The EPA ordered to reduce the water diverted for human use and let it flow to the ocean, restoring the smelt's home environment. 

Trump is trying to undermine California's water policies that disregard the needs of the population to "protect" a barely surviving fish. Commerce Secretary Wilbur Ross this month ordered agencies under his jurisdiction, including the National Marine Fisheries Service, to circumvent the Endangered Species Act on the pretext that water deliveries blocked by ESA rules were needed to fight California wildfires. 

California's self-imposed "drought" is difficult to understand - it is magic cult of sacred "Nature" that never existed. America is fighting Chinese competition, poverty, etc.  with one hand tied behind. Can President Trump work the miracle of dividing the waters between Man and the Smelt?