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Confounding and confusing events 7/3/23

In a recently published story, CNN reported that archeologists found a 3000-year-old sword so well preserved that it was gleaming in an ancient burial site in the state of Bavaria, Germany. The site is still being examined, so no definitive announcements have been made by the Bavarian State Office for the Preservation of Monuments. The sword is from the Middle Bronze Age with an octagonal handle, made entirely of bronze which makes it a rare find according to archeologists. The speculation is that it was a burial gift and meant to aid the deceased in traveling to the afterlife. I doubt that we are currently manufacturing much that would last 3000 years in pristine condition.

Hunter Biden recently made a deal with federal prosecutors in Delaware to dispose of tax charges and gun violation by pleading guilty to misdemeanors and is not likely to face jail time. I am sure the howling began as soon as this was announced. The comparison to Mr. Trump’s case will certainly be made, but I suspect Mr. Trump could have made a deal too, but then again, he has never done anything wrong.

It was announced recently that the DOJ classified documents case will go to trial on August 14, 2023. The federal Court system moves criminal matters along rapidly, and this is no exception, nor is it a surprise. It will be really interesting to see what delaying tactics Mr. Trump’s lawyers come up with.

It has recently been disclosed by ProPublica that Justice Aleto accepted a large gift from a Republican donor who had business before the court, in fact, substantial business before the court. The Wall Street Journal allowed Justice Aleto to rebut the ProPublica story even before it was published, and the reasons given by the Journal are dubious, at best. It is becoming clear that the Justices do not see themselves as needing to be responsible to the public for their actions, as they deem their life tenure to absolve them of any ethical compliance. If the Court wonders why trust is diminishing, they only need to look in the mirror.

The right-wing of the Republican party announced recently that they had a different economic plan which is not based on the free market, but rather on controls that they would like to see in place to address issues like companies moving their factories to China and reducing imports. Pro-freedom Republicans are vanishing.

Representative Stefanik and Representative Greene have each introduced a resolution to, in effect, purge the two impeachments of Mr. Trump. Ms. Stefanik is quoted as saying that those impeachments were unconstitutional, and the Democrats had weaponized the impeachment process. This runs parallel to Ms. Boebert and Ms. Greene both introducing resolutions to impeach Mr. Biden. It is obvious they do not see these as parallel actions. The fact that Ms. Stefanik would team up with Ms. Greene is wholly disheartening to anyone in her district who thinks. It is also important to note that these impeachment resolutions, even if Mr. Biden is impeached, will go nowhere in the Senate, at Mr. Trump’s didn’t, and in my view, Democrats should have recognized that before they started the process. Unfortunately, it is all political theater with no intended substance.

The recent actions relative to Mr. Trump’s indictment by the US District Court hearing the matter has been in line with standard practice in the Federal Courts in terms of scheduling and required actions, such as the delivery of evidence by the prosecution to the defense, and the Judge calling for all Motions to be filed by mid-July. Mr. Trump’s team will endeavor to delay, delay, delay, and they will be successful, but of course, we don’t know how Judge Cannon will treat serious issues which come before her, but if her history with regard to Mr. Trump is any guide, it will be partial rather than impartial. It may be, however, that she does not want the type of rebuke which she received from the Appellate Courts in the document review case. The next set of indictments I think will be more consequential, as they relate to the January 6th case and Georgia relating to the attempts to overthrow the election, with the simplest case to prove likely being the Georgia case.

On the Canadian trade front, CBP released its May statistics which reflected what has been reported in the papers as a significant reduction in encounters along the southern border, as I commented recently, not much reaction from the Republicans since it doesn’t fit their political narrative, as opposed to praising the outcome because it reduces risks for CBP officers and citizens who live in those communities. Again, further evidence that Republicans only stand with the blue when it suits them.

Canada is looking to change its valuation policy on sales which would have a dramatic negative impact on US/Canada trade, which currently calculates the value resulting in duties based upon the price paid for the good if purchased in Canada. Now, however, where a product was subject to multiple sales, which is typical in today’s global supply chain, the value based upon the last sale is likely to be higher. It looks like the US/Canadian border is becoming less friendly to commercial transactions. This is not a good thing.

It is being reported that foreign companies are shifting investment out of China as confidence wanes based on a report by the European Union Chamber of Commerce. The Chamber reports there are growing signs of pessimism despite the ruling party’s efforts to revive interest in the world’s number two economy. Investors are uneasy about security controls, government protection of their Chinese rivals, and a lack of action on reform promises, along with being squeezed by the slowing Chinese economic growth, and rising cost. I think it is important to understand that China is suffering rising costs, as well, which may well impede their ability to remain as competitive as they have been.

The Albany Times Union editorialized recently on the issues surrounding nursing, and in particular, the use of travelers in many hospitals. This has dramatically increased the cost, particularly in many upstate and rural communities, and the solution being offered by the State to subsidize the travelers is not a long-term solution, but rather just feeds this beast which is not going to protect our communities’ health care systems.

Bill Owens is a former member of Congress representing the New York 21st, a partner in Stafford, Owens, Piller, Murnane, Kelleher and Trombley in Plattsburgh, NY and a Strategic Advisor at Dentons to Washington, DC.

The views expressed by commentators are solely those of the authors. They do not necessarily reflect the views of this station or its management.

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