Author: A.T.

Executive summary from CoffeeTimeNews:

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Hillary Clinton, Mueller and the FBI have been fully EXONERATED in the Durham investigation. No charges will be filed. They will not be locking her up.

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Barbara McQuade elaborates (emphasis added):

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After four years, review of 1 million documents, 490 interviews, his conclusion is that FBI should have opened a preliminary investigation (PI) instead of a full investigation (FI) in 2016.

[According to Trump, this was the “crime of the century.”]

The only difference between FI and PI is the duration and the authorities that may be used. This is a hairsplitting quibble, and one on which FBI officials routinely disagree.

Durham also minimizes the reasons FBI was alarmed enough to open a FI in 2016 based on information received from Australian diplomats about Trump campaign adviser George Papadopoulos.

According to Aussies, Papadopoulos said, “Trump team had received some kind of suggestion from Russia that it could assist this process with the anonymous release of information during the campaign that would be damaging to Mrs Clinton.”

Papadopoulos’s statement came right after the DNC hack. FBI was properly concerned about Russia’s efforts to influence the presidential election. This was an investigation into RUSSIA.

Trump had other concerning ties to Russians: real estate deals, Miss Universe Pageant, loans from Russian lenders, Trump Tower Moscow project. Campaign Chairman Paul Manafort had lobbied for pro-Russian oligarchs.

Trump campaign members also had ties to Russia. Mike Flynn was paid $45,000 by Russia Today in 2015 for a speech he gave at a banquet where he sat next to Putin. He later lied to FBI about his calls with the Russian ambassador about sanctions during the transition.

Carter Page had been seen meeting with Russian intel officers. It now appears that he was unaware that they were trying to recruit him. Papadopoulos worked to set up a meeting with Putin.

Durham criticizes the FBI for relying on the Steele Dossier for the Carter Page FISA. Steele Dossier was not the basis for opening the investigation, but it makes for a useful scapegoat to blur that fact.

We now know FBI was unable to corroborate the Steele Dossier, which contained explosive details about Russian kompromat on Trump. That’s 20/20 hindsight. And, importantly, Durham never says the information in it was false, just unconfirmed.

In fact, some aspects of Steele Dossier were confirmed by Mueller and DNI: Putin favored Trump and was working to influence the election in Trump’s favor and against Clinton. It also contained unconfirmed information that could have seriously compromised Trump as president.

Failing to investigate these ties would have been a breach of duty by FBI. This was an investigation into RUSSIA. Russia was the threat and the focus. Trump was just Russia’s useful idiot.

Page FISA also was based on an e-mail altered by an FBI lawyer. That lawyer was identified by IG, not Durham, and he was properly convicted for making false statements. Mueller disregarded all aspects of Page FISA.

In addition to criticizing the FBI for opening a FI instead of a PI, Durham also ignores other facts and helps advance the narrative that the Russia investigation was a hoax.

Like Barr, Durham says Mueller found no conspiracy between Trump and Russia but fails to mention the 2016 Trump Tower meeting to receive dirt on Clinton, sharing of polling data with Russian intel officer Konstantin Kilimnik, and coordinating of messaging with Wikileaks.

Durham also ignores Trump’s public statement, “Russia, if you’re listening …” asking them to find Clinton’s missing emails, and the subsequent release of hacked emails hours after the release of the Access Hollywood tape.

The result of Durham’s four-year investigation is two failed prosecutions of bit players outside of government and a recommendation for FBI to hire someone to oversee their FISA work.

But the Durham Report provides fuel for the false claim that the Russia probe was a hoax. Don’t fall for it. While Mueller found no conspiracy, he concluded that Russia worked to help Trump become president.

[And Mueller was hindered by at least 10 cases of Obstruction of Justice!  As affirmed by 1,000 former Republican and Democratic federal prosecutors.]

And rather than report Russia’s overtures to FBI, Trump’s campaign was willing to accept the help.

The only winner here is Russia, which succeeded in its mission to get its favored candidate elected, sow discord in the United States, and undermine public trust in American institutions.

But first . . .

Friday I linked you to Glenn Sonnenberg’s Mother’s Day column on over-wokeness.

Well, guess whose Day comes after Mother’s?

That’s right!

If only I had kids and a lawn, I’d so want one of these June 18:

A “Roomba” for your lawn and the environment.  Amazing.

(Where do I come up with this stuff?  Thanks go — again and again — to the amazing Tony Seton for sharing his favorite links with me, which I frequently share with you.  The link to Sherlock Holmes was also Tony’s.)

And now . . .

UNIT

Twice suggested, though only for money you can truly afford to lose .

Rob: “Saw this article at fool.com.  Highlight: <<Uniti, which was spun off from Windstream, is another problem child. This REIT owns fiber optic cables, with Windstream accounting for around two-thirds of rent even after nine years as a stand-alone company. Along the way, it has been caught up in the bankruptcy proceeding of its former parent, and right now is eyeing a big lease renewal that is likely to be very contentious. In fact, Windstream, which is now a private company, has been explaining in presentations that it expects rent costs to drop by around two-thirds when the lease is renewed in a few years. If that comes to pass, Uniti will be in a financial pickle, and a dividend cut would be nearly impossible to avoid. This helps explain why Uniti’s dividend yield is an eye-catching 19%. For most investors the risk/reward balance probably won’t be worth the investment.>>”

My guy: “I’m well aware of the UNITI/Windstream situation. First, the lease contract does not expire until 2030. Second, while they are at odds with each other, they will clearly settle over the next few years as it is in their best interest to do so. Third, Windstream has no alternative to using UNITI. So they can blather about huge reductions but they won’t get them. Fourth, Aurelius Capital essentially stole Windstream in a bizarre lawsuit and is trying like crazy to monetize the acquisition so they will say all kinds of things.  So I will collect my dividend for the next seven years. UNITI will continue to grow away from Windstream. There will be a new agreement between the two sides.  UNITI has put a huge amount of new fiber in place. The projections show massive growth over the next five years. A final point: UNITI refied its debt last year so they are good to 2027. It’s a carefully run company. I am buying down here. Maybe I’m wrong but I’ll take the chance.”

→ I’m with my guy, but we’ll see.

PRKR

Humayun Mian: “Are you still hanging on ?  If so why?”

→ Yes.

My hopes were shattered by a judge who could just as easily have made us all rich (and, at least as I understand the situation, allowed justice to prevail).  But I hang on because I’d feel worse seeing it quintuple after I sold than I would seeing it hit zero.  Intel’s $25 million patent-infringement settlement, though puny, may not be PRKR’s last.  And the company claims to have new technology on its shelf that could conceivably prove valuable.

APE

Continues to sell at less than a third ($1.59) what its identical twin AMC sells for ($5.20), and APE shares will almost surely become AMC shares this year.  No one can say where the stock will trade then — it could be even lower than APE’s current price.  But wherever it is, today’s APE holders will be a lot happier (or less sad) than today’s AMC holders.

OPRT

Mentioned around $4 few weeks ago.  Though up 30%, my friend who knows it well is holding all his.  He calls it “ridiculously cheap, selling at less than 2x management’s projected cashflow which itself is roughly 1/2 of what it reasonably could be if they radically downsized their bloated overhead and focused on only the profitable parts of their business.”  I listened to this whole interview and read this hopeful press release over the weekend and then bought some more yesterday.  Only with money we can truly afford to lose — who knows (for example) what will happen if the extreme MAGA Republicans throw the world into chaos by reneging on our Debt — but Brian Finn sees a company that could be earning $3 a share in 2024.

Years ago, one of his law school pals assured me that Gorsuch would make a fine Justice.

Well, not so far.  And boy am I ever worried:

Neil Gorsuch is Preparing His Revenge: Gutting America’s Protective Agencies.

We need, more than ever, to depoliticize the Court.

Thursday I linked to the damning, long publicly announced line-up of speakers this past weekend’s Eric Trump event, including two who are open Hitler admirers.

UPDATE: Eric Trump may sue.

For those of you who clicked Thursday’s link and got something weird, I found a new one that I hope will endure.

One minute.

It’s sappy, but so apt.

Then, World War II was raging — a war between fascism and democracy.

At the time the film was made, democracy was by no means the sure winner.

Now we’re in the midst of a hot war in Ukraine and a cold war everywhere else between authoritarianism and democracy, fascism and democracy, white supremacism and democracy . . . and as Trump climbs in the polls with each new indictment or conviction, and those on his side are much more heavily armed than the rest of us and more inclined toward violence and economic suicide (this Trump versus that one) . . . it’s not certain democracy will prevail.

I’m pretty sure it will.  It must.  But not if we don’t do all we can to help.

Happy Mother’s Day!

On the wishing of which, your fellow reader Glenn Sonnenberg offers these excellent “musings.”

Trigger warnings are dangerously if not ludicrously over-woke and play into the hands of those who paint the left as having lost its mind.

Share his musings!

Have a great week-end.

From the right (one minute):

Liz Cheney’s new ad.

From the left (I doubt you’ll be able to stop after the first four minutes):

The announced speaker line-up at an upcoming Trump event.

Including his son, one of his National Security Advisors, one of his Attorneys General, and two unabashed fans of Adolf Hitler.  You will not believe your eyes or that this is happening.

Yet it is.

The current leader of the Republican Party . . . who really did keep a book of Hitler’s speeches by his bedside and whose dad really was detained in the summer of 1927 at a KKK rally (that summer, the Klan had an estimated 5 million members) and who told his chief of staff that Hitler “did a lot of good things” . . . vows retribution if re-elected.

So here’s an idea: how about 5 Republicans from states like New York and California . . . who in private “hate Trump with a passion,” as Tucker Carlson did . . . how about they switch parties?

That would shift the Speaker’s gavel from Kevin McCarthy, who’s having a rough go, to Hakeem Jeffries, who could get a lot done for the American people.

In running as Democrats, those 5 party-switchers might stand a better chance in 2024 than they now do, not least because they would be widely acknowledged to have saved the country from default and gridlock.

And even if these acts of heroism did cost them their seats (which they are in serious jeopardy of losing anyway), how does that compare — on the heroism scale — with losing your legs in service of your country, as Senator Tammy Duckworth did, or suffering five years’ torture in North Vietnam, as John McCain did?

The only Republican Congressman the blue team would not accept is newly indicted George Santos.

I love how CNN summarizes it:

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During his brief time in office, Santos has been accused of breaking campaign finance laws, violating federal conflict of interest laws, stealing cash meant for an Iraq War veteran’s dying dog, masterminding a credit card fraud scheme and lying about where he went to school and worked.

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Why was that not enough to cause his Republican colleagues to expel him?

Because they are the party of Trump — the master liar, cheater, and con man.

For those of us who respected the once-Grand Old Party, it’s both sad and frightening to see.

Click here.

We have our economic problems and challenges, but according to the Economist last month (The lessons from America’s astonishing economic record):

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The world’s biggest economy is leaving its peers ever further in the dust

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→ We’re #1.

Albeit also, in inequality and mass shootings.  And nowhere near #1 in other things that matter, like life expectancy and happiness.  But still worth noting.

As to infrastructure, where we’ve lagged badly behind, thank Joe Biden and the Democratic Congress for finally committing to the massive investment that’s decades overdue.

It was so needed, even a few Republicans signed on!

(To the annoyance of the indicted, twice impeached former president, who hoped it would fail.)

BONUS

The 10 Best Books on Investing for 2023

Or so someone thinks.

Got a minute?  Here’s the message.  Or an important part of it, anyway.

Click here if you can help.

Got 25 minutes?  Here’s Roy Woods, Jr.’s set at the White House Correspondents’ dinner.  I can’t say I was comfortable with all of it — but glad I watched.

The Court has become an embarrassment (though how cool is it that Harlan Crow owns a yacht, a jet, and a Justice?).

Ruth Marcus: ‘Another 25K’ for Ginni Thomas? I have questions.

Maureen Dowd:  Supremely Arrogant.

Have a great week!

Trump on the debt ceiling.

Under two minutes.

MUST-WATCH TV.

As to his claim about the Debt itself, it should be noted that:

> Clinton handed Bush a budget surplus.

> Bush handed Obama an enormous deficit and a collapsing economy.

> Obama turned all that around, handing Trump a debt that was shrinking relative to the economy as a whole.

> Trump reversed that, handing Biden a ginormous deficit and a collapsing economy.

> Biden is in the process of turning it all around again.

> The debt Obama added was necessary to save the world economy.

> The debt Bush and Trump added was incurred to give the wealthy tax cuts.

> The debt Biden is now racking up is an investment in reinvigorating our infrastructure, decarbonizing our economy, and reducing our strategic dependence on China.

That said, Trump was absolutely right about the debt ceiling.

Watch.

I wonder why he’s not instructing the party he controls to scrap it altogether.

Remember how, the last time fascism threatened, the New World came to the aid of the Old?

I am encouraged to think that a new version of this may play out as young people — once notoriously disengaged — step in to save democracy.

Younger voters are poised to upend American politics.

Not to push our luck, but those who bought CHRA between $1.50 and $3 last month for what became a quick double or triple might now want to reinvest some of that — if it remains money they can still truly afford to lose — in CHRB, the 8.5% “note” I’ve mentioned before.  It promises to be redeemed at $25 in 2026, while paying $2.125 a year interest along the way.

HONOR OUR DEBTS

Not to honor the debts Congress voted to incur would greatly harm the country Republicans profess to love and the constituents they were elected to serve.

For those interested in the details of a default: Brookings’ thoughtful analysis.

TAX OUR BILLIONAIRES

“For America to maximize its economic growth,” argues Ian Simmons in Forbes, “America’s billionaires will need to pay more in taxes.”

He’s right.

FURTHER EXPERIMENTS IN EXPIRED FOOD

I’ll admit to having been a little unsure about the unopened quarts of “shelf-stable” almond milk that had sat unrefrigerated since well before their August 1, 2018, “best by” date.

Good news!

They were fine.

(Just so you know, behind those quarts I discovered an unopened 20-year-old jar of Hellman’s mayonnaise — time flies! — and threw it out.  Not because it was old; age is just a number.  Because it looked revolting.  I’m frugal, not crazy.)