Alex McNab , an African American Columbia University Student was hungry on Thursday of last week while returning late from his Afro-Beat Dance practice. He decided to search on Facebook to find a place on campus that offered free food, according to an article written in The Washington Post by Katie Mettler.
He found a place at Barnard Campus which is affiliated with Columbia. On the way there he had an encounter with Barnard Public Safety Campus Police. He entered Barnard Campus Library where he found other students who offered him food.
Then two officers who followed him in appeared, followed by two more officers, then another- five in total. They proceeded to demand to demand his ID, grabbed his arms and pinned him up against the counter. A nearby student, Caroline Cutlip videoed the incident which has since gone viral.
McNab claims this is the third time he has been the subject of racial profiling by Barnard Campus Police citing two previous incidences where he was stopped and asked for identification.
Barnard Campus has issued a statement stating they are investigating the matter. Furthermore, the officers involved have been put on administrative leave.
It has been some time since I wrote an article about the economic affairs of the nation. Life goes on and we get caught up in the daily challenges before us not bothering to pay any attention to important economic issues that truly will impact each and everyone one of us. A hurricane starts with a gentle breeze, then progresses when warm ocean air rises rapidly encountering cold air forming water vapor and eventually storm clouds. An economic hurricane forms when excessive debt, excessive money printing, devaluation of currencies, and trade wars collide with Fiscal and Monetary Policies of Central Banks and Governments. I call it the perfect storm of stupidity.
We are now entering a period of time like no other in history. Ongoing trade wars, excessive debt, excessive money printing , Central Banks rushing to lower interest rates, Countries devaluing their currencies and the biggest economy in the world, running huge fiscal deficits. This is a recipe for disaster. Trade wars lead to violent conflict and bankrupts nations. Excessive debt robs future generations and excessive money printing eventually destroys all paper currencies. To explain this dynamic we need to look closer at the macroeconomics of what is going on in the world.
The United States economy is the prettiest of the three ugly sisters. Europe is a mess with its flag ship nation Germany , once the economic engine of Europe, starting to sputter. China is faltering with trade sanctions and massive debt starting to bite into their command and control structure.
Germany was the darling of the E.U. Since it reunified in the early 90’s it has become an economic powerhouse and one could easily make the argument that it has benefited the most within the European Union. But it has a big problem on it’s hands. The largest German bank, Deutsche Bank is in big trouble. The reasons are many- bad loans and mismanagement- are the primary culprits. They tried merging with other financial institutions but could not find a partner to bring to the Merger Ball. Oh, there were suitors who gave her a good look but each one had no matching glass slipper. One was a non Euro nation so that did not fit. One was a French maid who demanded control. The Germans would not accept this match up. Finally, a German sister bank came a calling but she was just as ugly with financial problems. So, it appears Ms. Deutsche Bank is all alone with no one to aid her, at least for now. Huge layoffs have been announced . Remember this- as Deutsche Bank goes, so does Germany.
China’s economy is slowing after massive debt accumulation and years of large amounts of stimulus. The current trade dispute with the United States may be contributing, but China does business with many countries and the world trade slow down is no doubt impacting it’s economy. It is true that China enjoys a large trade surplus with the United States and one of the reasons for the current rift between the two nations. Trump wants fair trade and China wants access to the U.S. Market. This will sort itself out but not without mounting friction. Besides , it is Europe that actually has a much larger trade surplus with the United States. I would not be surprised to see President Trump take aim at Europe in this regard. As I said, once trade wars start , they can quickly spread and escalate to more violent scenarios. Let’s hope this is not the case.
The United States economy is looking much more attractive than the rest of the world with modest economic growth, stable employment and low inflation. This explains why institutional and large wealthy investors are moving capital from oversees into the U.S. markets driving up the US$, Stock Markets and Bond Markets. Take a look at Germany and Japan. Germany has a 10 YR Treasury Bond yielding (-) .21% and Japan, a 10YR Treasury Bond yielding (-) 0.114%. The U.S. 10YR Treasury Bond, by comparison, is a much higher 2.0%. Capital always flows to where it can get the highest returns for the lowest risk. Well then, if things are so rosy in the United States economy why is Federal Reserve Chairman Powell sending a signal that lower interest rates are coming? Does he see something that we do not? After all, when the economy is growing at a healthy pace and employment is the lowest it has been in 50 years along with low inflation, there is really no need to lower interest rates. So, there must be something else lurking under the muddy waters of the world economy. Answer: Deflating economies, Rising Debt, Currency Devaluation are wreaking havoc on the nations of the world and it will soon hit the shores of America.
There is a price to pay for excessive debt, excessive money printing and currency devaluation. We have seen this play out before with terrible results. It is a lesson not learned – the perfect storm of stupidity!
On Friday night of last week, a verdict was handed down to the family of Ruth Harrion of Jackson Mississippi in Hinds County Circuit Court. The trial started Monday of last week and the jury found that proper policy and procedures were not followed by both the 911 dispatch and the Police.
On July 15th, 2014, Ruth Harrion called 911 at approximately 2.25 am to complain of a prowler in her vicinity. The 911 tape was obtained by the Clarion Ledger, according to the article written up in USA today by Jimmie Gates this past weekend. The crux of the case starts at this point. The 911 Operator failed to keep Ms. Harrion on the line to obtain key information. As the Operator did not ask the location of the prowler nor did the operator ask if Ms. Harrion could see the prowler.
The Police arrived at Ms. Harrion’s home very quickly, around 8 minutes and knocked on the door but when no one answered, they apparently left without checking the parameter of the home. Eleven hours later the body of Ms. Harrion was discovered – beaten, strangled, neck broken and apparently signs of sexual assault, according to the article.
Alonzo Stewart, 33 was arrest and charged with Capital Murder. The article mentions Stewart confessed to the crime and that he was in Harrion’s home when the Officers came and left. His trial apparently is set for Dec 2nd of this year. Why so long? According to the article he suffered from mental issues.
Folks, I have a few issues with this case. No doubt the Police dropped the ball as did the 911 Dispatcher. I have a great deal of respect for the men and women of the Police force. They do a great job protecting society and deserve our respect but every once and a while a situation comes up that makes you shake your head. This is one of them.
The one million $ fine is too low in my mind given the nature of the case and the fact this murder could have been prevented.
Finally, let’s put the onus one the real criminal- Alonzo Stewart who deserves a Life sentence!