Yesterday we announced the launch of The Doomsday Clock, an original 18th Airborne Corps podcast series telling the incredible story of the Corps' Cold War history.

Today we're going to tell you more about some of the guests who will appear on the program.

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BATTLE OF THE BULGE DAY 3: DECEMBER 18, 1944

Battling Bastards of Bastogne

~2:15 AM, Major General Matthew Ridgway, unaware of the fighting in Ardennes, and sleeping in his HQ, is awakened by a call from Lieutenant General Courtney Hodges, commander of First Army.

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Hodges, calling from the town of Spa in Belgium, tells Ridgway that the Germans are smashing through the Ardennes & the XVIII Airborne Corps had been released from theater reserve and assigned to First Army to help push back the offensive.

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Until just recently, with the creation of the 18th Airborne Corps, there was no traditional "reserve" in the European Theater. Now, the 18th was the reserve.

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Ridgway sends the 101st and 82nd into the teeth of the ferocious German attack.

Here’s Jim Gavin, 82nd commander, who would push east to Werbomont, Belgium.

The 101st would drive into the wood chipper outside of Bastogne, Belgium.

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The 101st, in particular, was in no shape to go back into the fight.

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Back to the Battle of the Bulge.

He's late.

Thursday, December 28, 1944, ~ 2:30 PM.

Delayed by fog and snowbanks, Eisenhower's command train pulls into a rail siding in the Belgian town of Hasselt three hours behind schedule.

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Ike is there to meet with Monty.

Ike needs to get the bellicose Brit on board with this plan [we're calling it the "middle option" plan] we showed you yesterday.

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Monty is good with the plan, but he believes it's too early to counterattack.

Monty makes his case: intel suggests another (final) impending German attack, so we should build up our defenses & wait rather than attack.

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Monty recommends a strategy of patience. He wants more divisions, he wants to set conditions before a strike. Wait for the moment to present itself, then pour it on.

[if you get the point of this GIF, we appreciate you]

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Ike counters: If we remain stagnant, we may lose our gains. If we lose momentum, we allow the Panzers to slink back over the West Wall and this war might go on for years.

1 of 16: WE ARE ALL JEWS HERE: THE STORY OF RODDIE EDMONDS

One of the most moving and relevant stories of the Battle of the Bulge, or any American Soldier in any war, is that of Master Sergeant Roddie Edmonds, a Knoxville, Tennessee native, who served with the 106th Infantry.

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Roddie was captured early on in the Battle of the Bulge, on December 19th, when Panzer forces plowed through his unit.

He, along with almost his entire regiment, was forced to surrender.

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The men were transported to the Stalag IX-A POW camp in Ziegenhain, Germany.

Roddie was the senior enlisted American Soldier at the site. As such, he was the conduit between all American Soldiers and their German captors.

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In late January, the camp’s commandant, Major Siegmann [pictured here], ordered Roddie, a Christian, to identify all Jewish Soldiers and order them to stand in formation by themselves the next day.

[Jewish Soldiers were a minority within American units]

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Throughout WWII, captured Jewish Soldiers were often tortured and then killed by their German captors.

In fact, Jewish Soldiers had been told to bury their dog tags before capture. The dog tag identified Jews with the letter “H” for Hebrew.

1 of 19: TANK YOU FOR YOUR SERVICE

You crazy for this one, #TankTwitter

The Battle of the Bulge was among the largest tank battles in US history.

[If you are here seeking something other than straightforward analysis of a historical event, please look elsewhere]

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After the war, a narrative developed that American tank units (7th, 9th, 10th Armored Divisions, in particular) overcame a German tank superiority in the Battle of the Battle.

[3 of 19] We'd like to put that idea to the test.

We've discussed Kampfgruppe Peiper outmaneuvering our tanks early on with the newest German tank, the 70-ton Tiger II.

The remaining German forces had the Tiger I and Panzers.

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Lt. Colonel Robert Erlenbusch commanded company A, 31st Tank Battalion in St. Vith during the fighting. After the war, he wrote a paper for III Corps in which he stated that German Panther and Tiger tanks were far superior to the American Sherman and Stuart tanks.

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American tanks had success in Ardennes only if they hit "lucky shots" according to Erlenbusch. Many historians still reference Erlenbusch's findings.

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By Jan 13, 1945, the Allies entered the final (and most historically overlooked) phase of the Battle of the Bulge

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By midday 75 years ago, all final Allied offensive actions were in motion.

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So, to set the table, let's remember who is who here.

CAST OF CHARACTERS

In the South, Patton's 3rd Army is still slowly making its way northeast to Houffalize (remember, they've been making progress that way since Jan 3rd).

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In the North, you've got
Robert Hasbrouck (commander of 7th Armored Division)

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In the North, you've also got Leland Hobbs who commanded the 30th Infantry Division. Hobbs and Hasbrouck reported to...

1/x The market continues to try & shake out weak hands from overextended positioning by both HF & Retail...After a strong Vanna run up overnight, as expected, retail exuberance exploded on the open in the form of retail call buying, this fragility, paired w/a)Mean reverting flows

2/x from pinned Index Vol b) well documented, risk parity rebalancing flows & c) selling flows tied to bank EOY liquidity constraints. In combination, these flows have together have amounted to substantive selling pressures, strong enough to counteract the positive vanna/ charm

3/x flows, & point to continued likely index RVol an IVol pinning...Historically, the week of quarterly OpEx markets are notoriously volatile intraday, but also mean reverting like we saw today. I think it is fair to expect continued IVol compression & more of the same underlying

4/x chop. Vanna/Charm flows will lose their oomph after Wed 12/16 vixperation morning. There’s a window of weakness which I’ve spoken to for a month that falls 12/16-12/23. That could open a brief window that could lead to revaluation of the real risk & short interest,post 1/6...

5/x but the overwhelming 10k 🦍 of index Vol compression should still hold any correction in time & price in check in the shortterm and it’ll be hard to have anything blow up too bad in SPX land given how cheap & abundant Xmas Vol is 12/23-12/24. NTM, a stim deal & potential Fed

Until 2050 we'll likely see "a #supercycle in investments in 'clean' energy infrastructure, 'clean' transportation & everything that's required for the '#green' transition."

There's so much bullshit in here, I'll unpack some of it in a

2/x

1st (cf. @MGSchmelzer): there is no reason to assume that a massive productivity- & hence production-boom will lead to reduced emissions, because it will increase production&growth, & it is those two variables that global greenhouse emissions track most closely. #Degrowth.

3/x

Every time capitalism has made massive productivity gains (e.g. w/ the #steamengine; the taylorist #assemblyline; computers), that has led to a *radicalisation* of capitalism as a mass production system (as opposed to earlier versions, where luxury goods were for elites),...

4/x

So there's no reason believe that a new round of capitalist accumulation (#accumulationbydispossession / #primitiveaccumulation) - in this case: some kind of "#greencapitalism - will in any way positively impact emissions rates, but every reason to believe the opposite...

5/x

I would like to look into this, as it speaks to an often-overlooked issue: the relationship between different phases of capitalist development, such as imperialism, fordism, & post-fordism, connected to energy regimes (coal-based, oil-based, renewables-based capitalism)?

1/ In @RayDalio's perspective, we are at the very late stages of the long term debt cycle. These long term debt cycles typically take 50-75 years to play out. This cycle began in 1945 when World War II ended and we began the US dollar-dominated world order.

2/ In the words of @RayDalio, "Right now, the world’s major central banks have the least fuel in their tanks since the late 1930s so are now in the later stages of the long-term debt cycle. Because they come along about once in a lifetime most people aren’t aware of them."

3/ Central banks have spent the last decade in a race to see who could devalue their currency the fastest. Near 0% interest rates have meant increased printing of the dollar, euro, and yen. Central banks no longer have the ability to tighten credit so they print money.

4/ Being towards the later stages of the long-term debt cycle there is a global sovereign debt bubble similar to what we saw in the 20's & 30's. In 2019, global debt-to-gdp hit 322% with total debt reaching a new all-time high of $253 Trillion.

5/ The wealth gap has also expanded to levels last seen in the 30's. Historically, inequality and large wealth gaps have eventually led to dire consequences. Periods of conflict and social unrest often marked by taxes, revolutions, or wars.

I’m focused on building an American free market economy protecting free speech.

Allowing the businesses with the highest creativity & best end user experience to compete.

Driving prices low, quality and service high, and putting American’s first.

Made in America!

Cont’d..

Wait … so … how much worse could the pandemic response and unprecedented death rate get?

How much farther shall our economy crater?

I wonder what it will feel like to get better.

I wonder what it will be like for things to get better after being arguably as bad as they have ever been.

Wait … sooo … were things this bad in 2016?

Wait … things were good? After eight years under a democratic administration?

Huh.

I wonder how all those falsehoods will play after things start to get better.

I wonder how many full fledged COVID deniers will finally encounter this deadly pandemic.

I wonder if red states will continue to suffer needlessly under Trumpian COVID policies.

I wonder what the recovering blue states will look like from those red states.

I wonder how much aid these red states will require from said blue states.

And I wonder what it will feel like to those red state constituents when the aid forced upon them makes things a bit better?