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By Tyler Durden

Submitted by Richard Spencer via JihadWatch.org,

Really, what did you expect?

A considerable portion of U.S. domestic and foreign policy is based on the assumption that Islam in the U.S. will be different: that Muslims here believe differently from those elsewhere, and do not accept the doctrines of violence against and subjugation of unbelievers that have characterized Islam throughout its history. But on what is that assumption based?

Nothing but wishful thinking. And future generations of non-Muslims will pay the price.

“Meanwhile, An Islamic Fifth Column Builds Inside America,” by Paul Sperry, IBD, October 1, 2015 (thanks to Pamela Geller)

In berating GOP presidential hopeful Ben Carson for suggesting a loyalty test for Muslims seeking high office, CNN host Jake Tapper maintained that he doesn’t know a single observant Muslim-American who wants to Islamize America.

“I just don’t know any Muslim-Americans — and I know plenty — who feel that way, even if they are observant Muslims,” he scowled.

Tapper doesn’t get out much. If he did, chances are he’d run into some of the 51% of Muslims living in the U.S. who just this June told Polling Co. they preferred having “the choice of being governed according to Shariah,” or Islamic law. Or the 60% of Muslim-Americans under 30 who told Pew Research they’re more loyal to Islam than America.

Maybe they’re all heretics, so let’s see what the enlightened Muslims think.

If Tapper did a little independent research he’d quickly find that America’s most respected Islamic leaders and scholars also want theocracy, not democracy, and even advocate trading the Constitution for the Quran.

These aren’t fringe players. These are the top officials representing the Muslim establishment in America today.

Hopefully none of them ever runs for president, because here’s what he’d have to say about the U.S. system of government:

• Muzammil Siddiqi, chairman of both the Fiqh Council of North America, which dispenses Islamic rulings, and the North American Islamic Trust, which owns most of the mosques in the U.S.: “As Muslims, we should participate in the system to safeguard our interests and try to bring gradual change, (but) we must not forget that Allah’s rules have to be established in all lands, and all our efforts should lead to that direction.”
• Omar Ahmad, co-founder of the Council on American-Islamic Relations, the top Muslim lobby group in Washington: “Islam isn’t in America to be equal to any other faith, but to become dominant. The Quran should be the highest authority in America, and Islam the only accepted religion on Earth.”
• CAIR spokesman Ibrahim Hooper: “I wouldn’t want to create the impression that I wouldn’t like the government of the United States to be Islamic sometime in the future.”
• Imam Siraj Wahhaj, director of the Muslim Alliance in North America: “In time, this so-called democracy will crumble, and there will be nothing. And the only thing that will remain will be Islam.”
• Imam Zaid Shakir, co-founder of Zaytuna College in Berkeley, Calif.: “If we put a nationwide infrastructure in place and marshaled our resources, …read more

  Source: 51% Of U.S. Muslims Want Sharia

      

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HBO Now went down for many viewers as HBO was broadcasting hit TV show “Game of Thrones.” …read more

Source: Anger as HBO Now goes down during ‘Game of Thrones’

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“Game of Thrones” pits Jon Snow against Ramsay Bolton in the epic “Battle of the Bastards.” …read more

Source: ‘Game of Thrones’ battle: Jon Snow v. Ramsay Bolton

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By Tyler Durden

In exceptional America’s new normal, there is no consequence for under-performance. In China, however, as this shocking clip shows, for Rural Commercial Bank employees that do not “exceed themselves” there is one punishment… Public Spanking!

As China People’s Daily reports, a bank manager spanks employees at a Rural Commercial Bank for not “exceeding themselves” in Changzhi, Northern China…

Shocking: Manager spanks employees at a Rural Commercial Bank for not “exceeding themselves” in Changzhi, N #China.https://t.co/x0wlx7fJOK

— People’s Daily,China (@PDChina) June 19, 2016

…read more

Source: Caught On Tape: What Happens In China When You Don’t "Exceed Expectations"

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Entrepreneur Laila Alawa has been viciously harassed online after an article on The Daily Caller portrayed her as pro-9/11. …read more

Source: Entrepreneur deluged by hateful tweets

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Entrepreneur Laila Alawa has been viciously harassed online after an article on The Daily Caller portrayed her as pro-9/11. …read more

Source: Muslim woman deluged by ‘hate tweets’ after helping Homeland Security panel

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By Tyler Durden

Submitted by Pater Tenebrarum via Acting-Man.com,

Taking Off Like a Rocket

There are actually two problems with corporate debt. One is that there is too much of it… the other is that a lot of it appears to be going sour.

Harvey had a good time in recent years…well, not so much between mid 2014 and early 2016, but happy days are here again!

As a brief report at Marketwatch last week (widely ignored as far as we are aware) informs us:

“Businesses racked up debt in the January-to-March period at the fastest pace in three quarters, according to data released Thursday.

Business debt grew at a blistering 7.9% annual rate in the first quarter, the Federal Reserve said. Business debt has expanded by around 8% in three of the last five quarters. Companies still have substantial cash on the sidelines, as their stockpiles edged down to $1.89 trillion from $1.9 trillion.”

(emphasis added)

While Marketwatch told us how much cash companies are holding, for some reason it didn’t deign to tell us how much corporate debt there actually is, in dollars and cents. It would be nice to be able to compare these figures, wouldn’t it?

Here is a chart that shows the sum of commercial loans held by US banks and outstanding US non-financial corporate bonds:

US non-financial corporate debt… can’t have too much of a good thing! – click to enlarge.

Now, as we all know, this debt as been incurred in order to engage in wise capital investment, so it will be very easy to pay it back with future profits…. well, not really, actually. A lot of it appears to have been wasted in decidedly unprofitable investments. This should be no surprise with administered interest rates at zilch for many years.

The rest has been judiciously deployed for financial engineering purposes, such as stock buybacks, m&a activity and even dividend payments. This, we hear, has been quite good for the stock options of many a corporate executive. Who would want to begrudge them that?

Charge-Offs and Delinquencies Soar

We are just guessing here….but we believe there must be a few irate bank managers somewhere. Quite possibly they are irate with themselves, for having lent too much money to too many deadbeats. Here is a chart we have frequently shown before: the annual rate of change of the sum of charge-offs and delinquencies in commercial loans (we thank our late friend BC for the inspiration – may he RIP).

Believe it or not, this number is growing at a record fast pace as of Q1 2016 – at 122% y/y it is surpassing even the rate of change peak seen near the trough of the “Great Recession” of 2007 – 2009. And this is happening with the Federal Funds rate target at a measly 0.25-0-50% corridor and the broad money supply (TMS-2) still growing at more than 8% y/y!

The annual rate of change of the sum of delinquencies and charge-offs of commercial loans …read more

Source: The Problem With Corporate Debt

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By Tyler Durden

As details continue to emerge surrounding Orlando shooter Omar Mateen, so do the holes in the narrative.

Case in point, last week’s statement by the shooter’s employer, G4S, the world’s largest security company, that he had passed a 2007 psychological text without any problems. The document that G4S submitted to Florida state listed psychologist Carol Nudelman. But after news of the document was reported, by the Miami Herald and other media, Dr. Nudelman, whose last name is now Blumberg, issued a statement saying she hadn’t evaluated any tests for the security company after 2005. The attorney for Nudelman (or Blumberg) added on said Sunday that she did not
live in Florida in September 2006 when the psychological assessment was
purportedly performed.

Oops. What happened then? Well, as the WSJ reported earlier today, G4S reported that it made a “clerical error” in documents submitted to the state of Florida in 2007 regarding the mental health of Mateen, the gunman whom authorities have named as the person who killed 49 people in an Orlando nightclub last week. Specifically, the company said that it listed the wrong name for the psychologist who evaluated a test for Mateen that was required under state law for him to carry a firearm as a security guard.

So here comes the new narrative: G4S said Mateen’s evaluation in September 2007 using the Minnesota Multiphasic Personality Inventory, a common psychological assessment tool, was in fact conducted by a third-party vendor called Headquarters for Psychological Evaluation. The security firm said Mateen had an above-average rating and that he had a favorable recommendation for employment. “Dr. Nudelman’s name appeared on the license as scoring the exam; it was a clerical error,” G4S said.

As previously reported, G4S added that it didn’t conduct a psychological evaluation of Mateen in 2013 after he was investigated by the Federal Bureau of Investigation for telling co-workers at a Port St. Lucie courthouse that he had ties to terrorist groups.

G4S said it doesn’t conduct psychological exams of security guards after they are hired. It said that at the time of the FBI investigation Mateen complained that he had made the statements in anger after being harassed by coworkers. “It is not our policy—nor the policy of any security provider or law enforcement agency that we are aware of—to demand psychological exams in such situations,” the company said in a statement.

Perhaps it should have: in a stunning new report emerging this afternoon, Alternet writes that before Omar Mateen gunned down 49 patrons at the LGBTQ Pulse Nightclub in Orlando, “the FBI attempted to induce his participation in a terror plot. Sheriff Ken Mascara of Florida’s St. Lucie County told the Vero Beach Press Journal that after Mateen threatened a courthouse deputy in 2013 by claiming he could order Al Qaeda operatives to kill his family, the FBI dispatched an informant to “lure Omar into some kind of act and Omar did not bite.”

While self-styled terror experts and former counter-terror officials have criticized the …read more

Source: Orlando Shooter’s Employer Admits It Made A "Clerical Error" Regarding His Mental Health

    

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By Tyler Durden

By Derek Draplin of Michigan Capitol Confidential

A faculty committee has proposed adding a three credit hours requirement in diversity to the general education curriculum at Wayne State University. It also recommended that WSU drop its university-wide requirement in mathematics, an idea that was carried out on June 13.

“We are proposing the creation of specific ‘Diversity’ courses, with students required to take one course in this designation,” said a document from the General Education Reform Committee, which is recalibrating what the university will expect from all students who earn a degree from the state university. It released the proposal in May.

The committee report said, “These courses will provide opportunities for students to explore diversity at the domestic level and consider the ways in which it intersects with real world challenges at the local, national and/or global level.”

In announcing the change in mathematics, the university said, “This decision was made largely because the current (math) requirement is at a level already required by most high school mathematics curriculum.”

Committee co-chair Monica Brockmeyer told the Detroit Free Press, “We felt the math requirement was better left to the various programs and majors to decide and to decide what levels of mathematics would be needed.” She added, “We still continue to support mathematics at Wayne State.” The university has announced that the math requirement in the general education curriculum will be dropped until 2018, or until it is replaced by a new program.

Ashley Thorne, the executive director of the National Association of Scholars, which promotes liberal arts education and academic freedom, was critical of the recommendations.

“Colleges and universities use general education requirements to ensure that students learn the subjects it deems most important,” Thorne said in an email. “Wayne State University’s decision to drop math and add diversity to its requirements reveals that its leaders do not have their priorities straight.”

“Mathematical ability is an objective and practical skill that will serve students the rest of their lives, which is why it has traditionally been a core part of college curricula. ‘Diversity’ is not an academic subject. It is a concept invented to classify people by their social identities,” she said. “Focusing on individuals’ race, ethnicity, sex, and sexuality in this way has been demonstrated to lead to racial animus, segregation, stigmas, discrimination, and poor academic performance. It also politicizes education.”

The College Fix first reported on the diversity requirement. Brockmeyer, who did not immediately respond to a request for comment, made $176,760 in 2015 in her job as the associate provost for academic success.

The committee’s proposal for the new curriculum recommended replacing the math requirement with a quantitative requirement and creating “quantitative experience courses.” It’s unclear if the quantitative courses will replace the math requirement. The goal of those courses, according to the committee, would be for students to develop “the ability to interpret quantitative representations of information (such as graphs and tables), and the ability to use quantitative information to communicate in a purposeful way.”

In …read more

Source: Wayne State University Drops Math As General Requirement, Will Replace It With "Diversity"

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By Tyler Durden

Ahead of Thursday’s historic Brexit referendum vote, market jitters are bringing back memories of September 16, 1992, when the UK was forced out of the EU’s exchange-rate mechanism, or ERM, as speculators’ borrowing exhausted the central bank’s resources to keep the pound above its floor.

This is better known as the day George Soros “broke the Bank of England”, making over $1.5 bilion profit in the process. On that day, the U.K. decided to let the pound float freely rather than to suffer the high interest rates needed keep the currency within its limits. As a result the central bank raised its key rate to 12% from 10%, then announced a second increase to 15%. By the evening of that same day, which became known as “Black Wednesday,” the government withdrew from the ERM, a pre-euro system of European exchange-rate integration.

24 years later, traders recall one of the longest days in the history of the currency.

Here, courtesy of Bloomberg and for the benefit of traders who were still in school (or may not have been born), is a recap of how veteran FX traders saw, and reacted to, events on “Black Wednesday” two and a half decades later in what has been dubbed “one of the longest days in the history of sterling.” Will Thursday be an even more historic day for FX trading? We will know the answer in just four days…

John Glover, now a Toronto-based managing director at risk- advisory firm Validus Risk Management:

• “At the time I was running the USD/Deutsche Mark options book for a Canadian bank, but we did run a very large GBP/USD book
• ‘‘GBP had been the focus in the days leading up to the ERM exit, losing somewhere around 5% of its value in two or three days
• ‘‘For a day or so, no one could understand what was happening, unless of course you were at a bank where Soros was a client of the gilts desk
• ‘‘That day, the only GBP flows going through were institutionals that had to get out of longs, and it was pretty much only the BOE that was buying”
• “Our central bank desk struggled to get through to the bank as the phone lines were jammed. Corporates were sitting on the sidelines
• ‘‘Our GBP options book made more in two weeks than they ever had in a year”

David Woolcock, now London-based global head of sales and business development at Eurobase:

• “I was the treasury manager for Credit du Nord in London, managing a dealing room of six people and responsible for a proprietary risk portfolio
• “It was very hectic in the run-up to the exit, which took place afterhours in London. The morning started with the normal pressure on the weak currencies. However, soon the selling of sterling really ramped up on rumors of heavy sales from a known source
• “With the money markets barely functioning and wild exchange-rate oscillations still occurring on very wide quotes for nickel and dime amounts, it was an eerie market that was full of ghoulish barrack-room …read more

  Source: "Black Wednesday" Memories Haunt Traders Ahead Of Thursday’s Referendum

      

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