Chumps lawyer pretty much admits that an indictment is coming...

[hammies]

Using the word "Cali" is a sure fire indicator of transplant status.

 

[VonMeister]

I could be wrong but I think you have to go back further than 2 years to get to the root of the QE/inflation problem.

GDP has been falling since Reagan, and spending has been increasing. At the end of Bush jr and beginnings of Obama, the QE exploded to try and save the world.

It’s not a popular opinion, but from a free market standpoint, they should have let the bad banks and corporations fail and let the responsible and innovative companies take more market share.

It would have sucked, no doubt, but I’m of the opinion that the worst is still ahead because we never really dealt with the problem

QE, like COVID spending... was bad policy based on emotion. Once emotion takes hold the media starts the drumbeat of panic porn and spineless legislators are handcuffed. The media will ruthlessly bludgeon any politician that "refuses to help".

QE only worked with low interest rates because the fed needed to move cheap capital into the markets to bank it. When Powell started monkeying with them in 2017 inflation began and he pulled back albeit a little too late costing a lot of market value. When trillions in COVID cash were dumped onto the open market consumption went through the roof while productivity fell. We paid people not to work, who were concurrently being paid by employers to work remotely. INSANITY. Main it worse in places like California you were automatically opted in to COVID money. Raising interest rates now to deal with inflation is like self flagellation. It protects the wealthy while hurting the middle class. People are going to lose their jobs, lose their homes, lose their savings. The pressure on banks is going to be driven by defaults and the cost of money and I guarantee you after some time the Fed is going to come up with a recap scheme for them while citizens suffer. The largest driver of labor cost increases are boomers retiring and replacing this very large workforce with a very small generation working pool. We don't have the bodies. The largest driver of product and goods inflation is the devaluation of the dollar via the government printing press.

 

[twinzerfan]

QE, like COVID spending... was bad policy based on emotion. Once emotion takes hold the media starts the drumbeat of panic porn and spineless legislators are handcuffed. The media will ruthlessly bludgeon any politician that "refuses to help".

QE only worked with low interest rates because the fed needed to move cheap capital into the markets to bank it. When Powell started monkeying with them in 2017 inflation began and he pulled back albeit a little too late costing a lot of market value. When trillions in COVID cash were dumped onto the open market consumption went through the roof while productivity fell. We paid people not to work, who were concurrently being paid by employers to work remotely. INSANITY. Main it worse in places like California you were automatically opted in to COVID money. Raising interest rates now to deal with inflation is like self flagellation. It protects the wealthy while hurting the middle class. People are going to lose their jobs, lose their homes, lose their savings. The pressure on banks is going to be driven by defaults and the cost of money and I guarantee you after some time the Fed is going to come up with a recap scheme for them while citizens suffer. The largest driver of labor cost increases are boomers retiring and replacing this very large workforce with a very small generation working pool. We don't have the bodies. The largest driver of product and goods inflation is the devaluation of the dollar via the government printing press.

Right, but wasn’t the re-po and reverse re-po market in full swing prior to Covid?

That was flashing signs of market stress and QE was in full effect

 

[VonMeister]

Right, but wasn’t the re-po and reverse re-po market in full swing prior to Covid?

That was flashing signs of market stress and QE was in full effect

Powell was monkeying with interest rates before he relented and began lowering them again.

 

[twinzerfan]

Powell was monkeying with interest rates before he relented and began lowering them again.

Right, I guess my point or question is don’t you think we were headed this way regardless of covid fiscal insanity?

 

[VonMeister]

Right, I guess my point or question is don’t you think we were headed this way regardless of covid fiscal insanity?

I think the covid policies (mostly) and the Biden spending (lengthened) handcuffed the fed from having any useful tools to prevent inflation.....they no this and somehow came to the conclusion that implementing the tools of a gold standard economy were someone going to work. It's the nature of the bureaucrat to just pull levers instead of directing the ship to a beach head instead of running the ship onto the rocks.

We create policy based on polls and wining popularity contests. Politicians know they need to only win +1 electoral college vote on Election Day. They are all too happy and willing to serve their electorate at the expense of their opponents and the future as a whole. In contrast look at the Netherlands for example. A new upstart party based around farming just won 17 of 75 senate seats. Instead of trying to figure out a way to wall them off and demonize them...which happens in the US..the ruling party leadership said they greatly misinterpreted public opinion and promised to do a better job to hear and service the needs of all Dutch people.

 

[Sharkbiscuit]

I think the covid policies (mostly) and the Biden spending (lengthened) handcuffed the fed from having any useful tools to prevent inflation.....they no this and somehow came to the conclusion that implementing the tools of a gold standard economy were someone going to work. It's the nature of the bureaucrat to just pull levers instead of directing the ship to a beach head instead of running the ship onto the rocks.

We create policy based on polls and wining popularity contests. Politicians know they need to only win +1 electoral college vote on Election Day. They are all too happy and willing to serve their electorate at the expense of their opponents and the future as a whole. In contrast look at the Netherlands for example. A new upstart party based around farming just won 17 of 75 senate seats. Instead of trying to figure out a way to wall them off and demonize them...which happens in the US..the ruling party leadership said they greatly misinterpreted public opinion and promised to do a better job to hear and service the needs of all Dutch people.

If we had multiple viable parties that had to form coalition-style government like the Netherlands, The Woke Party would have AOC, Maxine Waters, and a couple other inner city types, the RWNJ party would have 20-25% MTG and Boebert and Gosar and Ted Cruz, and we'd have Hillary wing of the Democrats and the George Pataki/Angus King/Chris Christie wing of the Republicans.

It'd be the United States of Susan Collins and Claire McCaskill.

 

[NikolaiFrost]

I hope they have a good legal team behind them. Finding a lawyer who knows the ins and outs of criminal defense seems crucial. Maybe even one who specializes in SEO for law firms (like the tips here: https://smith.ai/blog/5-best-practices-law-firm-seo-attorneys-guide-getting-great-google-results) to help them weather this storm online.

What do you guys think? Is an indictment always a guaranteed conviction, or is there still room to fight the case? Even for a legal beginner like me, this whole situation seems rough.

 

[GromsDad]

SHOW

 

[Sharkbiscuit]

US

 

[Pico]

YER

 

[afoaf]

GUNSHOT WOUND TO THE DICK