"The People's President"?
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-10-22 10:27
by Karl Denninger
in Politics
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"The People's President"?
 

Gary Johnson has talked up a good game on his web site and elsewhere claiming that he's The People's President and engaging in all sorts of amusing arm-waving about the budget, pot smoking and gay marriage.

But it is my contention that one should look at what someone does as opposed to what they say.

After all, political talk is cheap but deeds are harder to run from.  As I have previously noted his fiscal record as Governor is not quite what he claims.  During his time as governor every single line item I examined increased in spend and State Debt grew.

Thus, the claim of a "balanced budget" is a lie; it was "balanced" exactly the same way Clinton balanced the budget -- he shifted funds from one place to another, in this case onto your kids and the unborn through borrowing.  It is an abject lie to say your household budget is balanced when you "balanced" it by running up $20,000 on the credit card!

But this has been covered.  This time I want to delve into Johnson's campaign spending.

See, when you give a politician money, they're required to report it in detail if you give them more than $200.  That's all fine and well, but it's only half of the question.

The other half is "where does the money go that you give him?"

And in Johnson's case the answer is "That's a black hole into which you can stare, but from which you will receive no meaningful information."

Last month, September, Johnson reported spending $297,954.35.  Of this $277,999.90 went to one organization, "Political Advisors", with effectively zero itemization.

That's 93% of the money the campaign spent, and nobody knows where it went.  The rest -- the trivial part -- appears to be normal campaign stuff -- discount charges from the bank for credit cards, legal fees and similar. 

But who knows where "Political Advisors" spent the money -- you don't, and yet you funded the campaign.

How about August?

In August Johnson spent $318,329.45.  Of that $229,563.40 went to "Political Advisors"; about 72% of the total.  Another $52,969.35 went to one Jonathan Bydlak for "Fundraising and Consulting Services", or 16.6% for a total of... roughly 90%.

Taking 16% of the spend (and about 15% of the gross receipts) is pretty good money for a "fundraiser", if you can get that sort of gig.

Then there's debt. 

In August "Political Advisors" were owed $140,280.05, the lion's share of the total of $175,087.91.

Last month debt exploded with "Political Advisors" now due $368,894.56 or 263% of the figure from a month before!

One has to judge a candidate on how they manage their fiscal resources. 

Ron Paul's campaign never went into debt, for example.

Now maybe you would consider it "unfair" to look at Gary Johnson compared to, oh, a Congressional campaign, or even Ron Paul who has decades of experience doing this sort of thing (never mind that Johnson loves to compare himself to Dr. Paul.)

So let's look at Jill Stein's disclosures, the Green Party candidate, for an "apples-to-apples" comparison.

There's a shocking difference in the level of disclosure these two people display in their filings.  Jill shows documented disbursements to airlines (for her travel), for telephone bills, for web services, in short, the sort of detail that one would expect of someone who is running a campaign in the sunshine.  She also lists the names of people she's paid, and her campaign's debt, $24,000, is an unsecured loan from her to the campaign -- in short she's got skin in the game where Johnson does not and when the campaign is over she will presumably wind up eating that $24,000.

So the question is this -- are you going to support and vote for a "People's President" who is effectively hiding where the money his campaign is being spent is going, to whom, in what amounts and most-importantly, for what it is being spent, while he appears to have none of his own considerable fortune on the line?  (A quick search for "Gary Johnson" as a donor to any campaign, including his own, does not show any itemized contributions from someone with that name from his listed area.)

The bottom line is this: Should not those who donate to a campaign know exactly where their money is being spent and who is being paid in what amounts?

I think so, but if you're considering donating to Gary Johnson and are willing to do so with that disclosure, that's your call.

Discussion below (registration required to post)
 

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User Info "The People's President"? in forum [Market-Ticker]
Smacktle
Posts: 1362
Incept: 2009-01-20
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Texas
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Seems like a waste of your time and energy to focus this much attention on this guy. I mean this guy is about as relevant as Sandra Fluke.

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The faults of the burglar are the qualities of the financier.
- George Bernard Shaw

Reason: deleted a word
Pika-steph
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He needs to fire his 'political advisors.'

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Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/
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"The only regulation that really works is failure."--Rick Santelli
Bagbalm
Posts: 4259
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Just North of Detroit
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You've given him better advice for free.
Of course you value advice by what it costs.
Asimov
Posts: 104010
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Gold
East Tennessee Eastern Time
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Jesus christ. That sounds like a big scam rather than a campaign.

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Captainkidd
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Pasadena, Texas
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Where, exactly, does one apply to be a "Political Advisor" for him?

I am extremely interested in that job.

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A lawyer with a briefcase can steal more than a thousand men with guns. --Mario Puzo

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -- Henry Ford
Genesis
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It appears to have to have one particular address in Salt Lake to qualify.

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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?
Winstonsmith2009
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Incept: 2009-08-05

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The Koch brothers are Mormons. Johnson might be their 2nd choice candidate who they support for philosophical reasons only. "Political Advisors" might be a superpac where I believe transparency of funders is not required. Thank you Supremes.

An informal, unscientific survey of people standing in lines at stores and their cashiers indicates to me that most people are absolutely sick of this campaign. I tell them why this one is worse than any in the past, especially when it comes to robocalls - $2.5 billion spent in the prez race alone, proof of owned government at work and the value of those trillions in taxpayer funded gravy at stake. In the past two mail days, I've received seven glossy adds for the corporate shills. I should have kept track of how many I've received total. Sucks being in a swing state when you aren't even playing the game.
Genesis
Posts: 130747
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No, "Political Advisors" is a known individual. Like I said, it's a good gig -- if you can get it, and is entirely legal as far as I can tell.

The question is why anyone gives money to someone who runs a campaign this way.

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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?
Wis/min
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Incept: 2009-08-14
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On the border
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Quote:
The Koch brothers are Mormons
I don't know why that mattes but please provide some evidence to that fact.
Winstonsmith2009
Posts: 1060
Incept: 2009-08-05

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"No, 'Political Advisors' is a known individual."

Did I miss where you gave a name? The address for "Political Advisors" matches that for Nson Opinion Research, whoever they are:

http://linktown.kens5.com/biz/nson-opini....

Their web page:

http://nsoninfo.com/

Reason: Added Nson link
Winstonsmith2009
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Incept: 2009-08-05

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Mainstream media's gotta' milk those billions:

Presidential race couldn't be tighter

http://firstread.nbcnews.com/_news/2012/....

No, it could, but isn't:

http://fivethirtyeight.blogs.nytimes.com....
Genesis
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Nson is Ronald Nielson. It's the same guy who ran the PAC before Johnson announced.

Nothing complicated here; it's a boutique outfit and is basically doing everything in terms of disbursed funds.

It's entirely legal as far as I can tell but it gives you zero visibility as a donor in terms of what he's doing with the money you give him.

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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?
Mannfm11
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Gold
DFW, Tx
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I don't know where Johnsons money went, but I think I know where a lot of other money goes. My mother gave a few donations to some groups. I venture there has been at least $50 a week worth of direct mail from various outfits for the past 2 months. Some of it has postage stamps along with the literature. Some outfits are good for 2 or 3 pieces a week. Someone must mail them a lot of money to still be in business.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Jstanley01
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Silver A True American Patriot!
San Antonio, Texas
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Johnson is a bull**** artist wrapped up in a scam inside of an irrelevancy.

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You can't cheat an honest man. ~P.T. Barnum
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