The Bad Joke That Trump Is Turning Out To Be
The Market Ticker - Commentary on The Capital Markets
2017-04-15 08:22 by Karl Denninger
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The Bad Joke That Trump Is Turning Out To Be
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Oh sure, there are things you can point at when it comes to a Trump Presidency and say "that's better than it was."

For example, illegal invaders.  No, folks, they're not immigrants.  They're criminal invaders. You may love one, you may live with one or more, they may have come here just wanting a better life but the fact is that their first act was to violate the law of this nation and they did it to access the wealth and benefits of this nation -- in other words, with the intent to steal that to which they were not entitled to.

There's a legal way to come and live in the United States.  It happens to be somewhat selective, and with good reason.  Nations do not exist without borders, a common language and a common culture.  No nation is or ever should be obligated to modify any of those three for someone who is not a citizen and wishes to come -- it's the other way around, and the reason nations have immigration laws is to provide some assurance that those who come will change their behavior to respect said border and assimilate into the existing language and culture.

If you want to see what happens when you don't respect that I direct you to the fine doctor lady now under arrest in Michigan who is accused of mutilating girl's genitals for religious reasons, otherwise known as female genital mutilation.  Would you care to guess her religious affiliation?

It is exactly this sort of event that highlights why nations have every reason to impose constraints on immigration.  No, those constraints aren't perfect, and no, not everyone who refuses to accede to cultural norms is an immigrant.  But that's why these laws are not only Constitutional they're also both reasonable and necessary.

Unless, of course, you like the idea of having your daughter's clitoris cut off.

Further, don't try to run that crap about how "they've been here for so long and put down such roots" that they're entitled to stay.  Wrong again.  That someone happens to be a good bank robber (that is, they don't get caught) for years makes their offense more-serious, not less-so.  Every day a person is here on an unauthorized basis and both accesses and benefits from the capital and sweat equity investment in this nation unlawfully is a separate and distinct offense.  To attempt to lever sympathy through other interpersonal interactions (or worse, creating children who had no knowledge of what you were doing in the first instance) is an aggravating, not mitigating, circumstance.

Let's leave this one behind for now, because on any rational analysis enforcement of immigration laws is good, not bad.

I prefer to move to the bad for the time being.

Like, for instance, what certainly appears to be Racketeering in the House on both sides of the aisle when it comes to how Congress conducts itself.

See, it has come to light (and in fact did several years ago, but has recently been reconfirmed) that in order to get a seat on a committee you must raise hundreds of thousands of dollars for the party.  To keep it you must continue to do so on a recurring, annual basis.  The better the committee or the more-important the seat (e.g. the chair, vice-chair, etc) the more money you must raise.

If you recall it is rather illegal to bribe people in most instances.  Well, what's this folks?  And these aren't "one-off" bribes either they are formal political structures that the party leadership not only permits it created and enforces them.

What do you call that?  I call it Racketeering.

What has Trump said about that?  Nothing.

Not.
One.
Word.

What has Jeff Sessions, his Attorney General and formerly a Senator (oops) said about it?

NOT.
ONE.
WORD.

Gee, I wonder why?  I wonder where the indictments are?

Let me remind you that it is illegal for any government official to ask for, demand, solicit or accept anything of value in return for altering the performance of one's duties in any way.

There is no exception that says it's ok if the money comes from other people and is paid to the political party instead of an individual official.

It's rather clear, really -- you can find the law right here in 18 USC Section 201:

(b)Whoever—

(1)directly or indirectly, corruptly gives, offers or promises anything of value to any public official or person who has been selected to be a public official, or offers or promises any public official or any person who has been selected to be a public official to give anything of value to any other person or entity, with intent—

(A)to influence any official act; or
(B)to influence such public official or person who has been selected to be a public official to commit or aid in committing, or collude in, or allow, any fraud, or make opportunity for the commission of any fraud, on the United States; or
(C)to induce such public official or such person who has been selected to be a public official to do or omit to do any act in violation of the lawful duty of such official or person;

(2)being a public official or person selected to be a public official, directly or indirectly, corruptly demands, seeks, receives, accepts, or agrees to receive or accept anything of value personally or for any other person or entity, in return for:

(A)being influenced in the performance of any official act;
(B)being influenced to commit or aid in committing, or to collude in, or allow, any fraud, or make opportunity for the commission of any fraud, on the United States; or
(C)being induced to do or omit to do any act in violation of the official duty of such official or person;

(3)directly or indirectly, corruptly gives, offers, or promises anything of value to any person, or offers or promises such person to give anything of value to any other person or entity, with intent to influence the testimony under oath or affirmation of such first-mentioned person as a witness upon a trial, hearing, or other proceeding, before any court, any committee of either House or both Houses of Congress, or any agency, commission, or officer authorized by the laws of the United States to hear evidence or take testimony, or with intent to influence such person to absent himself therefrom;

(4)directly or indirectly, corruptly demands, seeks, receives, accepts, or agrees to receive or accept anything of value personally or for any other person or entity in return for being influenced in testimony under oath or affirmation as a witness upon any such trial, hearing, or other proceeding, or in return for absenting himself therefrom;

shall be fined under this title or not more than three times the monetary equivalent of the thing of value, whichever is greater, or imprisoned for not more than fifteen years, or both, and may be disqualified from holding any office of honor, trust, or profit under the United States.

That's pretty clear.  Do you see a "this law doesn't apply to member of Congress being required to raise money for the party in order to sit on a congressional committee"?

I don't.

Where's the mainstream media coverage of this?  There have been a few "tongue slips" that I've heard on the air in the last couple of months (itself a revelation) but interestingly enough, Google can't find them.  Gee, I wonder if Google might be complicit in removing any search indexing on such things?  Naw, there's no reason to worry about big, data-centric search engines in that regard, right?  Google, Apple, Amazon, Facebook -- none of them have a reason to shovel dirt over the record and try to obscure things, do they -- especially when it's publicly-uttered admissions of brazen lawlessness in Washington DC.....

Trump was going to drain the swamp eh?  Uh huh.  Sure he is.

And then of course there's health care.  You want a swamp, there's a swamp.  One dollar in five spent in the country, 37% of every dollar spent last fiscal year by the Federal Government and 80% of both are spent due to inflated prices created by various forms of price-fixing and monopoly behavior all of which is supposed to be illegal under long-standing federal law and, I remind you, the "industry" has twice been to the Supreme Court to try to go around those laws and lost both times.

So where, once again, are the indictments?

Uh huh.

Quit talking about Trump "draining the swamp."  He in fact scammed everyone in this nation right into the Presidency.  Save me the bleating from the left about Hillary, by the way -- she was worse.

Let me remind you that since I'm a former CEO I know damn well what the scam is in the Health industry, because I had to deal with it when it came to benefits for my employees.  This means Trump knows it well too.  And while I didn't know until fairly recently how corrupt the committee system was in Congress or that it was blatantly organized and in quite-clear violation of long-standing Federal Law, I do now and so does Trump.

And finally, it is the Executive that enforces laws.

So where is the enforcement that you swore on the Bible you would uphold and undertake, jackass?

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User Info The Bad Joke That Trump Is Turning Out To Be in forum [Market-Ticker]
Ktrosper
Posts: 3252
Incept: 2010-04-06

ft collins co
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Thanks, KD.

We're seeing more "selective enforcement", which is to say more lawlessness.
And it's going to destroy us.

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The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
Liberty exists now in the spaces government has not yet chosen to occupy.-Doc Zero
I anticipate that 10 Dallas Cowboys Cheerleaders will blow me this evening.-K.D
Yourapostasy
Posts: 47
Incept: 2008-10-06

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I've seen this a lot in large organizations. Diffusing and factoring out responsibility (and sometimes even control structures) into lots of tiny facets, then adding layers of indirection, and topping it off with incentive structures to be able to claim they aren't in violation of law or regulatory rules, when the end effect is the same as if someone explicitly ordered the breach. Clauses against structuring are not widely written into the laws that political organizations and many large companies really care about, and successfully bringing suit against such structuring tends to involve very complex, expensive and time-consuming discovery.
Vitchilo
Posts: 6126
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Yep, he's full of shiat.

Also, NKorea just showed an mobile ICBM yesterday... this is game changer if they can make it work.

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We hang the petty thieves and promote the great ones to office.
Tickerguy
Posts: 148437
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A True American Patriot!
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Oh there's no structuring in this case - it's blatant. You have to raise $X to get on committee Y, and if you don't, you don't get the assignment.

The law in this case is extremely broad; any influence in the performance of an official act (and the assignment of committees and seats thereupon certainly is an official act) is a violation if anything of value is exchanged for it irrespective of who the thing of value goes to. That the people making the assignments don't get the funds doesn't matter.

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Winding it down.
Oldno7
Posts: 2535
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RECALL STATE USA
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Karl you again nailed it! Without the rule of law all is lost and the country is run by criminals and they reside in the House and Senate. I would hope the Donald would get to these matters sooner rather than latter. If he doesn't he is no better than the rest of the crooks.

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IT'S THE SPENDING STUPID The US must become less a government of men, and more a government of LAW.When people lose everything and have nothing left to lose they lose it -Gerald Celente
Tickerguy
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This sort of **** is how civil wars start. At some point the people decide that if their vote doesn't count at the ballot box they will vote via another means, and you never, ever want it to go there.

IMHO we're not far from it happening when political parties literally sell committee assignments and Chairmanships in blatant and outrageous violation of felony law and not one single indictment issues over decades of time.

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Winding it down.
Tsherry
Posts: 797
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Spokane WA
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None of this changes until imminent mortal peril from all directions threaten those that commit such offenses.

Maybe not even then.

Gable
Posts: 709
Incept: 2009-07-04

Retired in NC Mountains
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Well I am disappointed. He was the last hope to fix things for a few years but he has gone establishment.

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In all of history, no government became more honest, less corrupt, or respected its citizens' rights more as it grew in size. E.L. 2016
Vitchilo
Posts: 6126
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Quote:
IMHO we're not far from it happening when political parties literally sell committee assignments and Chairmanships in blatant and outrageous violation of felony law and not one single indictment issues over decades of time.


I doubt people will revolt until their whole pension funds go kaboom and people end up homeless and starting blowing fuses... and some of them starting getting personnal payback from those who lied to them...

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We hang the petty thieves and promote the great ones to office.
Punch_rockgroin
Posts: 2277
Incept: 2008-12-31

Pacific NW USA
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Quote:
people end up homeless


Have you seen Portland or Seattle lately? Portland is to the point where you can't go ANYWHERE along a major street in town without seeing some sort of tent community. Trash all over the city, and getting worse. I've lived in the PNW for 40 years, and it's NEVER been as bad as it is now.

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Put the boots to him. Medium style.
Tsherry
Posts: 797
Incept: 2008-12-09

Spokane WA
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>>Have you seen Portland or Seattle lately? Portland is to the point where you can't go ANYWHERE along a major street in town without seeing some sort of tent community. Trash all over the city, and getting worse. I've lived in the PNW for 40 years, and it's NEVER been as bad as it is now.>>

Unhappily, most of the larger cities also have needle-exchange areas or clinics, and outside these areas, it's dangerous to walk around due to all the sharps on the sidewalks, lawns, etc.

We're also seeing increasingly aggressive panhandling, far beyond the cardboard-carrying beggars pleading for $0.24 or gas money or anything-helps-God-Bless or I'm-Honest-I-Just-Need-A-Beer. The new breed includes adults and young teens, posing as a stranded family, and will come after you in a pack if you don't give them what they want. Situational awareness has been ratcheted up a notch or five.

As a result, I often have to wear rather bulky attire. It's a little difficult to conceal a full sized 1911.



Topgun
Posts: 60
Incept: 2016-09-10


Banned
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Karl said:
Quote:
So where is the enforcement that you swore on the Bible you would uphold and undertake, jackass?
When has a criminal ever given a hoot what the Bible is?

The ONLY oath they take, which is under their breath, is to swear not to stray from the atheist and corrupt fraternity they are about to join.

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When Revolution comes to America, I want to shoot these sumbitches with Black Powder so they know Im not blowing smoke up their backsides.
Vernonb
Posts: 1759
Incept: 2009-06-03

East of Sheol
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Quote:
Oh there's no structuring in this case - it's blatant. You have to raise $X to get on committee Y, and if you don't, you don't get the assignment.

It's simply entrenchment of the most corrupt into the seats of power. The parties give the most campaign dollars to those that bring in the most money too. The system then perpetuates itself.

It became obvious Trump want't going to drain the swamp after appointment of his cabinet. Trump is now the "godfather" of the swamp.

Quote:
This sort of **** is how civil wars start. At some point the people decide that if their vote doesn't count at the ballot box they will vote via another means, and you never, ever want it to go there.

I am reluctant to vote in another national election and I haven't missed one since I was 18. I no longer see any hope in the American political system to do what is right or moral by that system. Writing letters and attempting to communicate with facts is only met with derision and ridicule or a "**** you this is my position" form letter of manufactured lies. My ire no longer only extends to these crooks themselves but to ANY crook or company that financially supports them.

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"Mass intelligence does not mean intelligent masses."
Tickerguy
Posts: 148437
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It's felony folks.

There's no margin on this, no "maybe", no nothing of the sort. It's a crime. Period.

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Winding it down.
Mannfm11
Posts: 5344
Incept: 2009-02-28

DFW, Tx
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You have my vote on this. I didn't vote, but I sent the Trump campaign money. Outside of the fact a run over dog would have been better than Hillary, I have been disappointed. I'm watching to see if it is time to get out of this emerging banana republic.

I would like to see the IQ tests of the members of Congress. I wouldn't hire half of these people to run a cash register at Walmart. If you have been to Walmart, you are aware
They have some morons in that position. Plus, what chance would the money stay put.

The more I examine the idea of libertarian philosophy, the more I realize
A true libertarian supports nothing done in Washington DC. I am also of the opinion we could elect a like minded President and 1 short of a majority in Congress and none of the **** in DC would be repealed. This would be true if a sizable remainder of the Congress was of the same party.

The repeal and replace showed me enough. Voting for Trump for this purpose would be like ordering rib eye and getting a turd. I went after him on twitter as soon as I heard the mild details. It was clear he was playing into the hands of the swamp. The man probably hadn't paid insurance in 40 years with his wealth. The time it takes to buy it cost him more than about any condition he could have. The industry in general is a criminal organization protected by the criminals we are presented to elect.

I don't know if Trump knew what the swamp was. It starts with the mainstream press. Is there any reason for the nonsense we hear from the Post, Times, CNN, and the rest of the networks, but to protect the trillions stolen by way of the Federal Government? Then we have the bureaucracy. The core of the swamp. A person with an IQ over 100 couldn't work in such an operation with a clear conscience or a statist philosophy. The second would have to border on sociopathy.

Trump needs to realize his family would likely be working for under $100k a year, if their father wasn't Donald Trump. He brought in all these self made men, but Ivanka and her old man have the influence. The swamp can only be drained by getting the government out of our business.

People that work for a living need to start doing their own math. Non government workers pay for all this crap. How many are there? 120 million? That number gives us about $30k in Federal government spending per job in the private sector. I saw a study that half the population works for $30k a year or less. The government spends twice that. On a per capita basis, we are talking about $12k per person. They get it all out of the pocket of those that do for a living. What isn't direct is inflation.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Punch_rockgroin
Posts: 2277
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Pacific NW USA
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Quote:
A person with an IQ over 100 couldn't work in such an operation with a clear conscience or a statist philosophy.


The Bezzle (remember him?) plan for political change looks better every day. If elected president:

DAY 1: Fire all fedgov employees
DAY 2: Sell all fedgov owned property
DAY 3: Quit


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Put the boots to him. Medium style.
Analog
Posts: 1389
Incept: 2010-12-29

arkansas ozarks
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I'm watching the news in disbelief.
We're pushing The Bear just like Richard Widmark did in movie "Bedford Incident"
(btw a definitely worthwhile investment of ninety minutes given today's state of statesmanship)


Can this be all bluster ?

I breathed a sigh of relief when Trump won, said to Mrs Analog "I guess i wont have to dig that bomb shelter after all"


Next week i'm putting a transmission in neighbor's backhoe. Got a spot picked out.

a.

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Never trust a computer with anything important.
Zappafan
Posts: 2892
Incept: 2007-11-30

Atlanta
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Quote:
This sort of **** is how civil wars start.


Amen to that ... it is generally accepted that all politicians are liars, but when they cannot even keep even one campaign promise or follow the platforms they ran on, it undermines democracy to the point where people will eventually wake up and start voting by other means.

Obama pulled this garbage as well, running as a "progressive" yet when it came right down to it, he did nothing progressive at all. His healthcare law was a bailout of private healthcare monopolies, as we know well from Karl's writings on the subject. He did nothing to restrain the banks, in fact he put Tim Geithner as head of Treasury despite his having been discovered to be a tax cheat during the nomination process.

And when it comes to foreign policy, we can all see how they love to feed the war machine.

The "red team/blue team" crap is nothing but an attempt to distract the voters from the fact that there are no substantive differences between either major party. They are both part of a criminal racket whose objective is to sell the government off to the highest bidder.

The latest is that Trump apparently put some guy in the US Trade Representatives office who helped negotiate the TPP:

http://www.politico.com/story/2017/04/tr....

A lot of people probably voted for Trump "for grins and giggles" but are now finding out that the joke is on them.

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Ich bin der Tankendau!
Tickerguy
Posts: 148437
Incept: 2007-06-26
A True American Patriot!
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Well, as anyone who actually followed the Ticker knows, I went from cautiously optimistic during the primary season to downright cynical when Trump refused to flesh out his health care points and then ANGRY when they disappeared on the transition site.

Now, as we find out, it's far worse -- the same sort of fraud and felony is EVERYWHERE in Congress, and EVERY sitting Congressperson is a co-conspirator in a wildly felonious racketeering scheme to SELL SEATS on committees -- and act that is by black-letter law ILLEGAL.

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Winding it down.
Aztrader
Posts: 7750
Incept: 2007-09-10

Scottsdale, AZ
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And his group of advisors is starting to look like the board of directors of Goldman Sachs. What the hell happened? Does he actually think that he will get any advice that will support the people in this country from these fools?

There has literally been no rule of law out of the federal government when it comes to the people in power. Obama and his administration looked the other way when Wall Street, the fed and the bankers took over the economy. They ignored insider trading, market manipulation and levied token fines to make it look like their were doing their jobs. When the economy started to roll over 2 years ago, they simply changed the rules how GDP and earnings were calculated so that they could keep the party going. So far under Trump, none of this has changed. He screamed about the market bubble and now is embracing the Fed and their low interest rate policies.
We now watch this Congress that refuses to repeal the ACA without a replacement a pathetic joke. Look at the people that they are protecting.....The deadbeats and the wealthy and powerful. Again the people in the middle get thrown under the bus. How many of millions of jobs went from full-time to part-time due to the rules in the ACA? If repealed, would many of those jobs come back? We won't know until it happens. They never do the math, but only cater to the politics.
We pay the higher rates on the healthcare or on borrowing. We see the real inflation that they completely ignore. Does anyone think that Trump or any of his administration know what cheap hamburger is vs expensive burger? They live in another world and don't have a clue.
I have a relative that runs a $500 million company. We got into a discussion about the ACA a few months back and he actually thought that Obamacare worked just like his corporate insurance and covered people for everything from dollar one. I was shocked that he was so naive about this. This country has become a Caste system and the wealthy really don't have a clue what the rest of the country is going through. When you are working in the real economy, you see it first hand and when you are making your money in the stock market you don't. Your statement goes up every month and that becomes the norm for you. Those of us that must generate business every day to pay the bills don't have this luxury. Somehow we need Trump and the rest of his crew to understand this because we are floundering fast.
The markets are a major bubble and when they do come down, everyone is going to get hurt really bad except for the very rich that have benefited during the past decade. They have pushed this ponzi along for way too long and the pain is going to be unbearable for the people that never got a piece of the paper growth pie. We are so closer to the cliff that most people just don't get it. The explosion is going to be monumental and the people in charge just don't see it.
Clay3482
Posts: 438
Incept: 2008-11-13

Alaska
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There is no fixing it. It is completely corrupt, like the tree in Atlas Shrugged it is rotten to the Core.

It is sad when you have to hope that Russia or China will do the right thing to keep the world from Armageddon.
Tickerguy
Posts: 148437
Incept: 2007-06-26
A True American Patriot!
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Oh there is fixing it and unfortunately the consequences of not doing so are very bad on a purely-objective, non-political level.

What's ugly is that thus far there is exactly zero citizen "give a ****" quotient. You'd think that after the brouhaha about Obama basically selling his Senate seat that this would be front and center EVERYWHERE, all the time, but it's not.

You see, that was ONE seat and easy to poke at from one side of the aisle.

This is ALL the seats and every one of the 535 members of Congress appear to be guilty of multiple felonies for participating - - if they have even one committee assignment and have made said "requisite" donation they're on the hook for hard federal time if this blows up.

You want to know what "Pizzagate" was a diversion for?

THIS.

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Winding it down.

Zappafan
Posts: 2892
Incept: 2007-11-30

Atlanta
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I'd wager a significant if not a large majority of Trump's base are people like myself, who specifically voted for him as a reaction against the rackets and bezzles including the one Karl describes in this ticker.

For him to turn around and sell us out is not just a betrayal of his voters, but a tragic self-betrayal.

After all, what does Trump stand to gain by continuing to empower the same criminals who gave us the TPP, medical cartels, theft of the Social Security trust fund, bank bailouts and selling Senate/House committee chairs to the highest bidder?

He's already proven himself as a business man, and has no need for more wealth. Only his legacy as a man and a citizen is left to prove. He should resign immediately if he had a shred of decency, which apparently, he does not.


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Ich bin der Tankendau!
Mekantor
Posts: 138
Incept: 2009-01-12

Houston, TX
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Its time to just not have a legislative branch, nothing good has come from there in many decades. The entire place is horribly corrupt and compromised. Many members have been demonstrated to be deviants, idiots, and criminals.

Changes to laws should instead be done as Git merge requests. Approval at the House level would be done based on district preference as if it is a Virtual Representative. State legislatures could do the same thing and act as a Virtual Senate vote, Git would even handle reconciliation through merge conflicts. Verified citizens who are registered to vote get accounts.

No committees, no fundraising, full transparency. President approves/rejects the merge to the Master branch. Full deliberative record is preserved in the merge comments, expert witnesses can give testimony by video attachments.
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