Gary Johnson Campaign Fiscal Checkup
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-08-29 12:42
by Karl Denninger
in Politics
Ignore this thread
Gary Johnson Campaign Fiscal Checkup
 

If you remember back in February I wrote on Gary Johnson coming into the Libertarian Party with $200,000 worth of debt and soliciting Libertarians for funds -- without clearing his Republican debt first.

In short, he was trying to get Libertarians to pay for his failed Republican run.

Given the article I just wrote on Johnson's actual fiscal record in New Mexico .vs. what he wants you to believe I thought I'd take a look at the latest FEC data available for his campaign.  After all, he's still soliciting funds, ostensibly to "buy him a podium" in the debates.

Is that true?

The FEC says (through 7/31) that Gary Johnson's campaign has taken in $1.48 million in contributions of various sorts, and has spent $1.46 million.

But.... the campaign has, as of the last report, $14,000 on hand and debts of $296,000.

In other words he's about 50% more in the hole than he was when he first started soliciting Libertarians, he is today asking for one million dollars in donations (after first asking for $100k, then $250k, and now one million), and on a debt-to-equity basis he has roughly $20 in debt for every $1 in cash in his account.

I guess this is part of Gary Johnson's definition of "fiscal responsibility"... right Gary?

Gary?

<<crickets>>

Discussion below (registration required to post)
 

Main Navigation
Full-Text Search & Archives
Archive Access
Get Adobe Flash player





Blogtalk 3:30 CT Mondays
Items To Look At


Discuss The Capital Markets along with daily technical analysis with our Gold Donor program.

Where We Are, Where We're Heading (2013) - The annual 2013 Ticker

Links and Blogroll
Our policy on reciprocal links: Send us an email with your information and why you think your blog or news site would make a good addition - in most cases reciprocal link requests will be granted.
Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Looking for "The Best of Market Ticker"? Check out
Ticker Classics.

Visit the forum to discuss this and other investing-related topics; see the FAQ on the forum for information about Gold Donor status including access to our technical analysis video server.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be reproduced or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media or for commercial use.

Submissions may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.

Leads on stories of current economic and political interest are always welcome. Our fax tip line is 850-897-9364; please include contact information with your transmission.

 
Comments.......
User: Not logged on
Login Register Top Blog Top Blog Topics FAQ
User Info Gary Johnson Campaign Fiscal Checkup in forum [Market-Ticker]
Marvinmartian
Posts: 752
Incept: 2011-03-16
Green
Pasadena, CA
Report This As A Bad Post Add To Your Ignored User List
Johnson is scamming on a very small scale compared to what we are seeing in Tampa with the GOP.
Iou
Posts: 1027
Incept: 2009-03-16
A True American Patriot!
The Twilight Zone
Report This As A Bad Post Add To Your Ignored User List
So this mofo is going around charging all his campaign expenses on his credit card? What happens when he's not able to pay it back? Is his campaign a LLC? Just trying to figure out how I'm going to get screwed on this one.

----------
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Frédéric Bastiat
Genesis
Posts: 130788
Incept: 2007-06-26
Admin A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
Generally the campaign winds up owing the money and the people it owes get ****ed. Usually the candidate tries to solicit money after losing to pay it back, but that rarely works out very well.....

The campaign committee is essentially a corporation and the candidate himself or herself is not personally liable for it in most cases. This, incidentally, is why if you ever do paid work for a campaign it's very important to get paid up front, in cash, before you provide the goods or services.

There are exceptions and I've seen a couple of rulings to the contrary, where the candidate can be personally attached. State and Federal law both bear on this and it's a bit complicated, but in the general sense it's a bad idea to rely on the premise that a candidate is personally liable for campaign debts.

----------
I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?

Flappingeagle
Posts: 1229
Incept: 2011-04-14

Report This As A Bad Post Add To Your Ignored User List
Quote:
If you remember back in February I wrote on Gary Johnson coming into the Libertarian Party with $200,000 worth of debt and soliciting Libertarians for funds -- without clearing his Republican debt first.

In short, he was trying to get Libertarians to pay for his failed Republican run.


I've said the same thing several times as well. With that out of the way, I "MAY" vote for Johnson anyway just to see the Libertarian candiate get as many votes as possible in an attempt to help the next candidate four years from now.

Flap

----------
Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
"You can't build a house of cards on a shaking table." - Tony Johns
The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
Iou
Posts: 1027
Incept: 2009-03-16
A True American Patriot!
The Twilight Zone
Report This As A Bad Post Add To Your Ignored User List
Based on these numbers, he's going to be sticking it to a lot of people. That’s not going to reflect well on the Lib party.
Thanks for the explanation.

----------
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Frédéric Bastiat
Debtpie
Posts: 534
Incept: 2009-12-17

Report This As A Bad Post Add To Your Ignored User List
20 to 1 leverage...pfha!...guys an amateur.

----------
A Leader, or an Opportunist? "A leader has the capacity of vision, the ability to see where things are headed before people in general see those things." Mitt Romney --- DebtPie's definition: a leader decides where "things" should head and "leads" us there.
Iou
Posts: 1027
Incept: 2009-03-16
A True American Patriot!
The Twilight Zone
Report This As A Bad Post Add To Your Ignored User List
Quote:
Johnson is scamming on a very small scale compared to what we are seeing in Tampa with the GOP.

Based on the subject matter of this ticker I say you're full of ****. You think the GOP is broke and not paying their bills? Nice try!

----------
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Frédéric Bastiat
Genesis
Posts: 130788
Incept: 2007-06-26
Admin A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
I'm assuming he incorporated the committee; I don't know if he did, but one must assume he's not stupid enough to fail to do so (that's the one way he can be personally reached in the general sense, and then only in certain states.)

----------
I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Templar223
Posts: 779
Incept: 2008-04-28
Green
Champaign, IL
Report This As A Bad Post Add To Your Ignored User List
Gary had some good ideas, but his campaign thus far has been exceptionally disappointing.

Such a shame as he could have offered a serious challenge to the two-party system.

Greendisease
Posts: 65
Incept: 2011-04-11

Report This As A Bad Post Add To Your Ignored User List
So basically, once again, there's no one to vote for. Ron Paul sold out, and Gary Johnson is a fraud. Yay.

What should I do? Write in a bunch of random phrases like "We're ****ed"? At least I'd be saying SOMETHING.

This top-down model of elections, in which the corporate media acts as king maker, simply doesn't foster change. Only a more bottom-up model will do that. It has to be a coordinated, grass roots effort, with the people deciding who they want before silly season even begins. I'm disappointed that in this day and age, with the power of the internet and so many disillusioned Americans, an actual leader still hasn't emerged.

Login Register Top Blog Top Blog Topics FAQ