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Rekindling old friendships

There’s an old Yiddish proverb: Af a tserisener frayndshaft ken men keyn late nit leygn — you can’t sew a patch on a torn friendship. Well, that may be up for debate, but what if the friendship isn’t torn but only petered out? And what if, after many years, you actually reconnect with someone from your past and that long-ago flicker rekindles itself? Does that qualify as an old friendship, a new(er) friendship or — a word we used a lot during the pandemic — a hybrid?

We humans gravitate to others of like mind. As yidn in di yorn (Jews getting on in years), we’ve amassed companions from a variety of venues: work, our kids’ school, a book club, a cause we’re involved with, our shul. This is part of the bounty of a long and active life.

But, especially as we age, it’s hard not to be curious about those who peopled our world before we were fully launched. What happened to those schoolmates or campmates we were once in such close contact with? Where did they move to when they left our orbit? Did they make a happy life for themselves?

I’m lucky to have reconnected with several old friends who are now fixtures in my social orbit. One came about unexpectedly, when my husband and I were leaving a performance of a Yiddish operetta at Harvard (sounds like an oxymoron but that’s what it was!). As we walked back to our car, I passed someone on the sidewalk who looked like a dead ringer for an old friend from childhood, Beth Adelman. Before I could stop myself I turned to her and said, “Beth?” and she looked at me and said, “Mara?” and it was love at second sight.

Several years later I got to wondering about an old high school friend, Rami, with whom I’d lost touch. I googled her and saw that she was living in Brazil. Case closed. But after we moved to Newport, Rhode Island during Covid, something compelled me to check on her again. This time I saw that she had moved. Now she was living in West Hartford, Connecticut. I called the phone number and when she heard who it was, we both screamed for joy. Later, she and her husband drove down to Newport, and our husbands got to know each another perhaps a bit more than they expected, as she and I gazed joyfully at each other and couldn’t talk fast enough.

What is it about old friends that is different from new ones? They remember our parents as energetic adults, younger than we are now. Like us, they were kind to (or annoyed with) our younger siblings. They remember our childhood rooms.

We can’t be young again, but reconnecting with someone from our past offers a momentary byroad into long-ago scenes that might otherwise stay forgotten.

At a reunion of the Yiddish culture camp, Boiberik, for example, I saw a former best friend of mine, Vita, for the first time in years. We have been faithful email correspondents since. In her most recent email, she wrote: “We had wonderful sleepovers, playing trolls in your bottom cabinet. No expensive dollhouses for us!” Do I remember those trolls? Yes. Do I remember playing with them in my bottom cabinet? Not exactly, nor can I conjure up the cabinet she meant. But I can surely imagine the scene that Vita describes, and I’m grateful it made such an impression on her. Thinking of my childhood shared with someone else makes it less ephemeral, less like a long-ago mirage.

Which reminds me of another proverb: Eyn alter fraynd is beser fun tsvey naye (One old friend is better than two new ones). Like the opening proverb, this too is up for debate. We make many friends along our adult path, and we need them all.

Yet there is something sweet and mellow about those who knew us at a different stage, and can bring some of that — often less complicated — time and place into our current reality.  We see in their faces the traces of a time when we just horsed around, dreamed big, and hadn’t a clue yet what hand we’d be dealt.

 

The post Rekindling old friendships appeared first on The Forward.

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Roblox jumps to 2-month high as the games platform posts rise in monthly bookings

Roblox new logo over images of the platformRoblox’s logo.

Roblox

  • Roblox shares finished at their strongest price in more than two months on Tuesday. 
  • The 12% rally was sparked by the December bookings report from the online games platform. 
  • Bookings, the company’s way of keeping tabs on its Robux currency, rose by up to 20% last month. 

Roblox shares surged to their highest in two months on Tuesday after an upbeat monthly metrics update, but such updates will be coming to an end from the online gaming platform. 

The stock finished the day up by 12% at $37.12, the best close since early November. During the session, it charged up as much as 15% to $38.30, its highest price since November 15.  

Tuesday’s rally was set off after the company, whose platform hosts user-created games, said daily active users last month increased by 18% year over year to 61.5 million. The user count built on a 15% increase posted for November. 

Also according to the December 2022 update, estimated bookings were up 17% to 20% from a year earlier to a range of $430 million and $439 million. Bookings are Roblox’s way of monitoring revenue from its Robux currency that players spend on accessories, clothing, and other items to upgrade their experience on the platform. 

Hours engaged also rose last month, by 21% to 4.7 billion from the same period a year ago. More time spent on the platform and bookings growth may bode well for the company’s fourth-quarter earnings report due on February 13. 

Roblox on Tuesday estimated December revenue between $189 million and $199 million, a decline of between 1% to 6% year-over-year. Dollar strength may have reduced revenue by about 1% from a year ago, Roblox said.

The company also said it will stop publishing monthly metrics, with the last report due in April for March’s performance. After that, key metrics will be published on a quarterly basis. 

“While we think that has provided incremental information to investors regarding the seasonality of the business, we have decided to cease providing monthly metrics to align our reporting cadence with our value of taking the long view,” it said.

Roblox stock sank by 72% in 2022 as tech and consumer discretionary shares were hit by worries about higher interest rates and the impact of high inflation and recession concerns on consumer spending. 

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US stocks close mixed as Dow dives nearly 400 points on weak Goldman Sachs earnings

Wall Street stocks financial marketsWall Street has been hit by a brutal market sell-off this year.

Spencer Platt/Getty Images

  • US stocks closed mixed on Tuesday as investors digested the latest earnings data. 
  • Goldman Sachs missed fourth-quarter estimates, while Morgan Stanley exceeded expectations. 
  • The New York Fed’s Empire State Manufacturing Index declined nearly 22 points to -32.9, the lowest reading in nearly two years. 

US stocks closed lower on Tuesday, as investors digested the latest slate of earnings from Wall Street’s heavyweight investment banks. 

Goldman Sachs contributed most to the market’s sour sentiment, with the firm missing fourth-quarter expectations and weighing heavily on the Dow. Morgan Stanley reported better-than-expected earnings. Still, both firms noted the more challenging macroeconomic environment, and saw declines in dealmaking. 

Early Tuesday, the New York Fed’s Empire State Manufacturing Index declined nearly 22 points to -32.9, the lowest reading in nearly two years.  

Here’s where US indexes stood at the 4 p.m. closing bell on Tuesday: 

Here’s what else is happening today:

In commodities, bonds, and crypto:

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Coinbase soars 10% as crypto markets rally and bitcoin notches highest price since September

Coinbase man shadowCoinbase announced last week that it plans to rescind job offers and freeze hiring indefinitely.

Sopa Images/Getty Images

  • Coinbase jumped more than 10% to $53 a share on Tuesday.
  • The extended rally in crypto markets are helping boost shares of the US crypto exchange. 
  • Coinbase cut 20% of its workforce last week, citing “increasingly challenging economic conditions.”

Coinbase surged more than 10% on Tuesday, trading at $53 per share as the wider crypto market enjoys a week-long rally.

The move in Coinbase stock comes as cryptocurrency prices continue their uptick. Bitcoin jumped 20% in the past week, according to Messari, while the industry’s market cap rebounded to more than $1 trillion over the weekend. Bitcoin notched its highest price since September. 

Industry execs say they believe market jitters are likely over after the downfall of Sam Bankman-Fried’s crypto empire FTX.

“I think we’ll see less volatility in the Bitcoin price over the next 6 months just because traders are likely scarred by the recent events of the FTX crash,” Kadan Stadelmann, chief technology officer of blockchain solutions provider Komodo, told Insider. 

The multi-day rally in digital assets is helping boost Coinbase stock, though shares of the company are still down 75% in the past year. 

Coinbase last week announced its third round of layoffs, axing 20% of its workforce.

In a company blog post, chief exec Brian Armstong said that crypto markets “trended downwards along with the broader macroeconomy” this past year.

“We also saw the fallout from unscrupulous actors in the industry, and there could still be further contagion… In the face of increasingly challenging economic conditions, we made the difficult decision to further reduce the size of our teams to ensure we have the appropriate operational efficiency to weather downturns in the crypto market, and capture opportunities that may emerge,” Armstrong wrote. 

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A New York oil dynasty falls victim to Sam Bankman-Fried’s FTX – after suffering big losses from Bernie Madoff and Enron

FTX Sam Bankman-Fried graphic

Stefani Reynolds / Getty Images

  • New York’s Belfer family lost money investing in FTX, according to the Financial Times. 
  • Two companies linked to the family had a combined stake in FTX Group that was valued at $34.5 million last year.
  • The oil dynasty also fell victim to Bernie Madoff’s Ponzi scheme and lost billions in the collapse of Enron. 

New York’s Belfer family lost tens of millions of dollars of investments in Sam Bankman-Fried’s bankrupt FTX, according to the Financial Times. 

The famously philanthropic family had suffered big losses from Bernie Madoff’s Ponzi scheme in 2008 and Enron’s collapse in 2007. 

Investment firms run by the Belfer family were recently listed on court documents as FTX shareholders.

Belfer Investment Partners maintained shares from FTX’s equity fundraising efforts in 2021 and 2022, and also invested in the crypto firm’s US business. Meanwhile, Lime Partners LLC also held shares in FTX and FTX US. 

The two companies’ combined stake in FTX Group was valued at roughly $34.5 million during the latest fundraising round early last year, sources told the Financial Times.

Belfer Management LLC, which is the Belfer’s family office, could not be reached for comment and declined to comment to the FT. 

The FTX loss is relatively small compared some of the family’s history, which includes roughly $2 billion with the collapse of Enron

The family’s fortune can be traced back to Arthur Belfer, who immigrated from Poland around World War II and began selling imported feathers before expanding to rubber and petroleum, according to the FT.

The Belfer’s oil company was bought in the 1980s by a predecessor of Enron, making the family top shareholders.

FTX filed for bankruptcy in November amid a liquidity crisis stemming from reported transfers of client funds to Alameda Research, the trading arm of Bankman-Fried’s crypto empire. Bankman-Fried has pleaded not guilty to federal fraud charges related to the fall of FTX. 

Other big equity investors in FTX who are also set to see their stakes wiped out include football star Tom Brady, New England Patriots owner Robert Kraft, and fashion model Gisele Bündchen.

In addition, well-known funds run by Tiger Global, Thoma Bravo, Sequoia Capital, SkyBridge, and Third Point, among others, were FTX investors too.

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Japan to roll out plans to back Ukraine at “appropriate time“, U.S. official says

2023-01-17T21:04:32Z

Japan’s Prime Minister Fumio Kishida speaks during a news conference following the US-Japan summit in Washington, U.S., January 14, 2023. REUTERS/Julia Nikhinson

Japan is engaged deeply on issues in Ukraine and is expected to roll out plans at the “appropriate time” to support Kyiv against Russia’s invasion, White House Indo-Pacific coordinator Kurt Campbell said on Tuesday.

“Prime Minister Kishida has a game plan and is already engaged deeply on issues in Ukraine,” Campbell told a Center for Strategic and International Studies event.

U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida met last week when Kishida was in Washington on the last stop in a tour of the G7 industrial powers.

“I fully expect that at appropriate time Japan will be rolling out specific plans to support Ukraine in a variety of ways. They are active in many of the contact group discussions about support for Ukraine and they are just a key member,” Campbell said, adding that Japan was “stepping up”.

Kishida last week stressed the importance of standing up to Russia’s invasion, saying that if a unilateral change to the status quo went unchallenged, the same would happen elsewhere, including in Asia – an apparent reference to China’s vow to reunite with self-ruled Taiwan, by force if necessary.

The Japanese premier also said the G7 summit in Hiroshima in May should demonstrate a strong will to uphold international order and rule of law after Russia’s invasion.

Earlier in January, Kishida said he had told Ukrainian President Volodomyr Zelenskiy in a phone call that he would consider an invitation to visit Kyiv depending on “various circumstances”, but nothing had yet been decided.

Tens of thousands of people have been killed and millions driven from their homes since Russia launched in February last year what it calls a “special military operation” to eliminate security threats in Ukraine. Kyiv and its Western backers call Russia’s actions an unprovoked land grab.

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Trump to make first 2024 campaign appearance in South Carolina

2023-01-17T21:22:09Z

Republican former President Donald Trump on Jan. 28 will make the first public appearance of his 2024 presidential run in the early voting state of South Carolina since announcing his candidacy in November, his campaign announced on Tuesday.

Two well-known South Carolina Republicans – U.S. Senator Lindsey Graham, one of Trump’s most loyal backers, and Governor Henry McMaster – will join Trump at the State House in Columbia as he unveils his campaign’s state leadership team, according to the announcement.

South Carolina holds outsize influence as one of the first states to hold presidential nominating contests during election years.

In 2016, when South Carolina was the third state after Iowa and New Hampshire, Trump’s statewide victory helped solidify his status as the Republican front-runner. Democratic President Joe Biden’s win in the state’s primary in 2020 was a crucial turning point for his candidacy after his poor showing in the first two nominating contests.

Democrats, with Biden’s backing, have recently taken steps to make South Carolina their first primary in 2024, in part because party leaders view Iowa, traditionally the lead-off state, as too white to reflect the full electorate.

The Republicans have chosen to maintain the traditional sequence for the first three states: Iowa, New Hampshire and then South Carolina.

Trump has not hit the campaign trail since he formally began his presidential run in November, instead making occasional appearances before invited guests at his Mar-a-Lago estate in Florida.

Two other South Carolina Republicans – former Governor Nikki Haley and U.S. Senator Tim Scott – are seen as potential rivals for the party’s 2024 presidential nomination.

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Former U.S. President Donald Trump gestures during a rally at Florence Regional Airport in Florence, South Carolina, U.S., March 12, 2022. REUTERS/Randall Hill/File Photo

Former U.S. President Donald Trump speaks during a rally at Florence Regional Airport in Florence, South Carolina, U.S., March 12, 2022. REUTERS/Randall Hill
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Goldman, Travelers drag Dow lower as earnings season picks up

2023-01-17T21:01:25Z

Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 5, 2023. REUTERS/Andrew Kelly

The Dow fell sharply on Tuesday as weak earnings from Goldman Sachs dragged the index lower, but a jump in Tesla shares helped the Nasdaq stay little changed as the corporate earnings season took center stage.

The rise in Tesla Inc (TSLA.O) after the electric-vehicle maker’s January retail sales surged in China helped growth-oriented shares (.IGX), but small caps (.RUT) and value stocks (.IVX) fell as fears of a recession unsettle investors.

Earnings from Goldman Sachs and Morgan Stanley closed out what was a mixed bag for big banks, many of which have stashed rainy-day funds to gird against a potential downturn.

Analysts are anxious to hear from corporate America about the demand environment amid signs of an upward trend in the economy, said Anthony Saglimbene, chief market strategist at Ameriprise Financial in Troy, Michigan.

“Earnings estimates have declined so much at the start of earnings season that there’s potential for companies to hurdle past a really low bar,” Saglimbene said.

“If the demand environment is still relatively healthy, that would exceed expectations because I think analysts took down earnings so much.”

Goldman Sachs Group Inc (GS.N) slumped after the bank reported a bigger-than-expected drop in quarterly profit and was the biggest drag on the price-weighted index. A stock’s share value is proportional to its contribution to the index, in contrast to the market capitalization-weighted S&P 500 (.SPX).

Also weighing on the blue-chip Dow index was insurer Travelers Cos Inc (TRV.N), which fell after forecasting fourth-quarter earnings below estimates.

But a jump in Tesla helped keep the Nasdaq afloat after recent price cuts the company made on its top-selling models, data from China Merchants Bank International showed.

The Dow Jones Industrial Average (.DJI) fell 391.39 points, or 1.14%, to 33,911.22, the S&P 500 (.SPX) lost 8.14 points, or 0.20%, to 3,990.95 and the Nasdaq Composite (.IXIC) added 15.96 points, or 0.14%, to 11,095.11.

Morgan Stanley (MS.N) rose after it beat analysts’ estimates for fourth-quarter profit as its trading business got a boost from market volatility.

Analysts expect year-over-year earnings from S&P 500 companies to decline 2.4% for the quarter, according to Refinitiv data, compared with a 1.6% decline at the start of the year.

Data showed New York state manufacturing contracted sharply in January as orders collapsed and employment growth stalled, pointing to continued weakness in national factory activity, fueling recession concerns.

Equity markets have posted a strong start to the year after a dismal 2022, on hopes easing inflation and a slowdown most notably in the labor market would allow the Federal Reserve to pare the size of interest rate hikes it is using to combat high prices.

Money market participants are currently expecting a 25-basis point interest rate hike from the U.S. central bank on Feb. 1 and see rates peaking at 4.9% in June and then falling. The Fed projects rates will be more than 5% into next year.

U.S.-listed shares of Chinese companies declined, with JD.Com Inc and Baidu Inc both falling after China’s economic growth in 2022 slumped to one of its worst levels in nearly half a century.

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LAPD Held Down Keenan Anderson, Repeatedly Tased Him — Then Suggested His Death Was His Own Fault

People mourn Keenan Anderson in Santa Monica, CA on Jan. 14, 2022. A protester takes to the streets demanding justice for Keenan Anderson who died while in LAPD custody on Jan 3, 2023. (Photo by Jacob Lee Green/Sipa USA)(Sipa via AP Images)

People mourn Keenan Anderson in Santa Monica, Calif., on Jan. 14, 2022.

Photo: Jacob Lee Green/Sipa via AP

The Los Angeles Police Department is pushing the narrative that Keenan Anderson — a 31-year-old Black teacher, who LAPD cops held down and repeatedly tased as he begged for his life — is responsible for his own death.

Preliminary toxicology tests, performed on Anderson’s body by the police department itself, found traces of cannabinoids and cocaine metabolite in his system – results that in no way mitigate the extreme violence inflicted on Anderson by the police ahead of his January 3 death.

The drug tests were not released as part of an official autopsy; the Los Angeles County coroner’s office is still investigating Anderson’s death and has not yet ruled on its exact medical cause. Instead, the LAPD conducted its own drug tests and announced the results in an unambiguous effort to denigrate and blame its victim, the third man of color killed by the department in the few short weeks of 2023 alone.

There’s nothing surprising about this sort of police practice. The idea that drug possession or use by Black people creates grounds enough to warrant police violence, even deadly violence, has undergirded half a century of U.S. policing. Cops from the department that murdered George Floyd attempted to blame his death on the fentanyl found present in his system, too, but thankfully without success.

If Anderson’s official autopsy undermines police claims that drugs played a role in his death, it would be a relief, but not a victory. Instead, the very willingness of the LAPD to release its toxicology report speaks to a much broader problem: the certain confidence in the public’s willingness to demonize and blame Black victims. If such racist narratives around drugs weren’t readily available, the police department wouldn’t have bothered releasing the toxicology results at all.

That the LAPD is confidently deploying this public relations tactic nearly three years after Floyd’s death is a grim reflection of how little has changed.

This should come as no surprise, either: The uprisings that followed Floyd’s murder were met with harsh state repression in the streets, aided by disavowals and dismissals across the media and political mainstream. The Democratic lawmakers who knelt ludicrously in kente cloth to signal their anti-racist credentials are the same leaders who have rejected every serious attempt to reckon with the racist violence that defines U.S. policing.

The reality of U.S. policing persists as a continuous, unrepentant, and reform-resistant threat to Black lives.

Calls to defund the police were deemed electorally radioactive, demands to abolish the police derided as delusional, police budgets further swelled, and impunity has continued to reign.

Police killed 1,176 people in 2022 — more killings than in any of the last 10 years. And while racial justice organizers and abolitionists continue to fight, the mass rebellions of 2020 were aggressively drained of political potency by an array of counterinsurgent forces, from mass arrests, media demonization, and, crucially, the complete and cowardly abandonment by liberal politicians on the city, state, and federal levels.

I don’t doubt pollsters’ findings, that voters in 2020 were turned off by the term “defund,” but I’m not interested in relitigating debates around electoral slogans. What matters is that the reality of U.S. policing persists as a continuous, unrepentant, and reform-resistant threat to Black lives.

It should go without saying that the presence of drug traces in Anderson’s blood should in no way shift culpability for his death away from the police. Anderson died following a brutal interaction with police officers he had flagged down to ask for assistance after a traffic collision. Friends and relatives said Anderson was undergoing a mental health crisis — a tragically common circumstance of deaths in police custody.

As released body cam footage showed, Anderson was chased and pinned down in the middle of the street. Two LAPD officers held him down, one with an elbow on his neck, then a knee dug into his back while he was handcuffed, and another cop stood over him with a Taser gun, shooting him with its electric charge — directly in the back — again and again, for a total of over 90 seconds. Anderson was then taken to hospital, where he died around four hours later.

The presence of drugs in Anderson’s system doesn’t even mean that he was high at the time of his interaction with police. Cocaine metabolite can stay in a person’s system for days. More to the point, Anderson certainly didn’t die of a cocaine overdose: These almost exclusively happen while taking the drug, not after hours in a hospital following physical violence and extensive electrocution suffered at the hands of police.

Even as city residents are terrorized, police consume enormous amounts of these communities’ resources. The LAPD received $1.8 billion in city funding last year, 29 times higher than the city’s housing budget, amid a perilous homelessness crisis. Bloated police budgets have not diminished crime but simply expanded the potential for police interactions in which a civilian can be treated as criminal and face violence. Racist police logics maintain a stranglehold over U.S. political norms. Otherwise, it would be — as it should be — beyond doubt that the police are wholly responsible for Keenan Anderson’s death.

The post LAPD Held Down Keenan Anderson, Repeatedly Tased Him — Then Suggested His Death Was His Own Fault appeared first on The Intercept.

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OPINION: Sleepy Joe Can’t Stop Me From Buying F-15s for Protection Against Doddering Tyrants Like Him

DAVOS—I hate it here. The food is under-portioned, overly garnished, and overpriced. Ditto the drugs and prostitutes. The company is as lousy as one might expect. Picture a bunch of rich nerds bereft of repartee, jacked up on virgin blood transfusions, pitching blockchain Ponzi schemes to Chinese fertilizer tycoons, raving about “eternal consciousness” and “driving inclusive impact by rescripting intentionally vis-à-vis diverse need-state expectations in the digital age.” Hunter Biden is the only cool person in attendance. Too bad his old man is a demented goon hellbent on destroying America.

“I love my right-wing friends who talk about ‘the tree of liberty is watered with the blood of patriots,'” President Joe Biden said Monday at an anti-Semitic breakfast rally. “If you need to work about taking on the federal government, you need some F-15s. You don’t need an AR-15.”

God love him. When he’s right, he’s right. The tree of liberty is watered with the blood of patriots. Our Founding Fathers held this truth to be self-evident. That’s why they so eloquently resolved that “the right of the people to keep and bear Arms shall not be infringed.”

That’s why I’ve come to Davos. To ensure the security of our free state against the brutish whims of petty tyrants like King George and Sleepy Joe. [Please redact the following: To liaise with corrupt Albanian and Turkish military officers regarding the lawful return of NATO F-15E Strike Eagle fighter jets and MIM-104 Patriot missile systems to the American citizens whose tax dollars funded their development and manufacture.] To preserve our God-given right to defend ourselves with the advanced instruments of modern warfare.

We need some F-15s. Guns alone will not suffice against an “elected” president who threatens airstrikes against his political opponents. I review the U.S. Constitution every morning with a large mug of Black Rifle coffee. (I prefer the Flying Ginsu blend, infused with the remains of eviscerated terrorists.) Go ahead, show me the part that gives federal bureaucrats the power to infringe on private ownership of fighter jets, extended range cannon artillery, and surface-to-air missile launchers.

That’s what I thought.

Sleepy Joe can’t stop me, or anyone else, from buying F-15s and other military-grade hardware for personal use. Democrats claim to oppose monopolies but are perfectly content with the federal government’s iron-fisted control of the war-machine industry. They would readily submit themselves to serfdom without a fight. They dream of a society in which hardworking Americans are wrenched from their homes at gunpoint, corralled into stadiums, and forced to stand and cheer at WNBA games while sucking down mealworm smoothies and avocado paste.

That’s their dream. That’s why they cheered Biden’s F-15 remarks with such enthusiasm. They hate freedom almost as much as they hate themselves. Today’s Democrats would have affixed themselves like barnacles to the yoke of tyranny if only King George had offered tax credits for miniature ponies to reduce methane emissions. It’s no wonder they go out of their way to coddle the Mexican drug cartels. If our country were truly free, American citizens would be flying sorties and firing HIMARs over the southern border in self-defense, and forcing the feds to think twice before trying to take away our weapons of war.

That’s my dream.

The post OPINION: Sleepy Joe Can’t Stop Me From Buying F-15s for Protection Against Doddering Tyrants Like Him appeared first on Washington Free Beacon.

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