Treasury prices fell and yields rose after a CNN report said Joe Biden could launch a stimulus package worth $US2 trillion, causing investors to brace for more bond issuance and higher inflation.
US stocks were set for a mixed start as markets awaited the details of Biden’s plan and mulled over the spread of coronavirus.
Chinese stocks tumbled as coronavirus cases rose, but oil prices climbed as traders looked towards a vaccine-driven economic recovery.
US Treasury prices slipped on Thursday after a CNN report said President-elect Joe Biden was mulling a $US2 trillion stimulus bill, while stocks were set to open slightly higher on Wall Street. The yield on the 10-year US Treasury note – which moves inversely to its price – rose 1.2 basis points to 1.1%. Yields were up on Treasuries from the 3-year note to the 30-year bond, as investors bet more stimulus would lead to more issuance of government debt and higher inflation. The S&P 500 was set to open slightly higher, with futures up 0.22%. Dow Jones futures were 0.31% higher but Nasdaq futures were up just 0.02%. The second impeachment of US President Donald Trump did little to market sentiment, with investors instead focused on stimulus and the Federal Reserve. On Wednesday the S&P 500 closed 0.23% higher, while the tech-heavy Nasdaq advanced 0.43%. The Dow Jones closed 0.03% lower, as cyclical stocks underperformed growth companies. Biden is expected to lay out his plans later in the day in Wilmington, Delaware. His advisors have told allies the total package could come to around $US2 trillion, two people briefed on the plans told CNN. David Madden, market analyst at CMC Markets, said: “Essentially, the markets have been in a holding pattern for the past three days as dealers have been waiting to hear from Mr Biden. “To an extent, a large amount of positive news has been factored into stocks and commodities.” Bond yields have marched higher, while prices have fallen in recent weeks. Investors expect the government to issue another wave of bonds to fund extra stimulus, pushing up supply. Markets are also betting stimulus will help growth and inflation. That pushes down bond prices and pushes up yields as low-yielding bonds look less attractive, especially compared to stocks.
“With President-elect Biden shooting for the moon on stimulus, and China data suggesting its economic juggernaut remains on track, financial markets should enter the last part of the week on a positive frame of mind,” said Jeffrey Halley, senior market analyst at currency broker Oanda.
“Any rise in US yields and the US dollar should not be enough to derail further rallies in equity markets and support energy.” Nick Note: From a bull market perspective its happy times. Biden is in like Flynn and nothing will stop him. The vaccines are on the way and they believe the golden shot will open the economy this spring. Democrats have taken the senate. And Biden will initiate the biggest happy check giveaway ever. So we are going to ride the wave. Then when reality set in look out below!!!!
Moderna CEO Stéphane Bancel spoke at a panel discussion at the JPMorgan Healthcare Conference on Wednesday
He said the coronavirus is not going to disappear and the general public is going to have to live with it ‘forever’
Public health experts have stated that COVID-19 will likely become an endemic disease, meaning always present in the population but circulating at low rates
Bancel added that he believes he firm’s vaccine is protective against the new variants from the UK, South Africa and Brazil
Researchers from Moderna are currently studying whether or not a third booster shot will help extend immunity
Moderna Inc’s CEO says the novel coronavirus will never disappear and will likely be around ‘forever.’ During a panel discussion at the JPMorgan Healthcare Conference on Wednesday, Stéphane Bancel echoed comments from public health experts who say COVID-19 is likely going to become an endemic disease, meaning it will always present in the population but circulating at low rates.
‘SARS-CoV-2 is not going away, .’ We are going to live with this virus, we think, forever.’ Additionally, he said he believes the firm’s coronavirus vaccine will be effective against infection by any of the new variants from the UK, South Africa or Brazil. Moderna’s vaccine was developed in partnership with the National Institutes of Health. It uses part of the pathogen’s genetic code called messenger RNA, or mRNA, to get the body to recognize the coronavirus and attack it if a person becomes infected. The candidate, called mRNA-1273, works by tricking the body into producing some of the viral proteins, which the immune system then recognizes and builds a defensive response against. When given in two doses four weeks apart, the vaccine was found to be 94.1 percent effect at preventing COVID-19 and 100 percent effective at preventing severe disease in clinical trial data. It was approved for emergency use authorizations by the U.S. Food and Drug Administration on December 18. Nick Note: Think… It will take a year at least to vaccinate significant portions of the US population. And a year and a half at least to get heard immunity. BUT the vaccine will work for a year. Which means your like a dog chasing his tail.
LONDON (Reuters) – People who have had COVID-19 are highly likely to have immunity to it for only five months, but there is evidence that those with antibodies may still be able to carry and spread the virus, a study of British healthcare workers has found. Preliminary findings by scientists at Public Health England (PHE) showed that reinfections in people who have COVID-19 antibodies from a past infection are rare – with only 44 cases found among 6,614 previously infected people in the study. But experts cautioned that the findings mean people who contracted the disease in the first wave of the pandemic in the early months of 2020 may now be vulnerable to catching it again. They also warned that people with so-called natural immunity – acquired through having had the infection – may still be able carry the SARS-CoV-2 coronavirus in their nose and throat and could unwittingly pass it on. “We now know that most of those who have had the virus, and developed antibodies, are protected from reinfection, but this is not total and we do not yet know how long protection lasts,” said Susan Hopkins, senior medical adviser at PHE and co-leader of the study, whose findings were published on Thursday. “This means even if you believe you already had the disease and are protected, you can be reassured it is highly unlikely you will develop severe infections. But there is still a risk you could acquire an infection and transmit (it) to others.” Experts not directly involved in the research, which is known as the SIREN study, urged people to note its key findings. “These data reinforce the message that, for the time being, everyone is a potential source of infection for others and should behave accordingly,” said Eleanor Riley, a professor of immunology and infectious disease at Edinburgh University. Simon Clarke, an associate professor in cellular microbiology at Reading University, said the study “has major implications for how we can get out of the current crisis”. “This means that the vast majority of the population will either need to have natural immunity or have been immunised for us to fully lift restrictions on our lives, unless we are prepared to see many more people being infected and dying from COVID-19,” he said. PHE said in a statement that the study had not been able to explore antibody or other immune responses to the COVID-19 vaccines being rolled out in Britain. Vaccine effects would be studied as part of SIREN later this year, it said. The SIREN study involves tens of thousands of healthcare workers in Britain who have been tested regularly since June for new COVID-19 infections as well as for the presence of antibodies. Between June 18 and Nov. 24, scientists found 44 potential reinfections – two “probable” and 42 “possible” – among 6,614 participants who had tested positive for antibodies. This represents an 83% rate of protection from reinfection, they said. The researchers said they would continue to follow the participants to see if this natural immunity might last longer than five months in some. But they said early evidence from the next stage of the study suggested some people with immunity could still carry high levels of virus. Nick Note: CAUTION if someone around you has had the virus or the vaccine they can still be a super spreader. Especially of the much more contagious mutated viruses that is causing a worldwide increase in infections and deaths. RNA viruses quickly mutate. Think the yearly flue vaccine. The RNA virus the coronavirus will require a yearly booster shot. Called prisoner of big pharma.
In a video message released Wednesday shortly after he became the first U.S. president to be impeached twice, President Donald Trump condemned the violence he incited at the Capitol last week, but made no mention of lawmakers impeaching him. “I want to be very clear, I unequivocally condemn the violence that we saw last week,” Trump said in a video tweeted from the White House account. “Mob violence goes against everything I believe in,” he said, referring to the violent insurrection at the Capitol led by his ardent supporters. “No true supporter of mine could ever endorse political violence … could ever disrespect law enforcement.” Trump was impeached due to his role in inciting a violent mob of his supporters in their siege of the Capitol last Wednesday, after repeating lies and conspiracy theories that the election was stolen. Pro-Trump rioters stormed the building, threatened journalists, attacked police and caused lawmakers to flee for their safety. Five people died in connection with the riot, including one Capitol police officer. In the video, Trump said he was “shocked and deeply saddened by the calamity at the Capitol” and urged demonstrations planned in the coming days to be “respectful and peaceful.” Exactly one week after the riots, members of the House of Representatives voted to impeach Trump in a 232-197 vote on Wednesday, with 10 Republicans joining Democrats in favor of impeachment. Next, Trump faces a trial in the Senate, which will likely take place after President-elect Joe Biden is inaugurated next week. Senate Majority Leader Mitch McConnell declined to bring the Senate back early on an emergency basis to consider impeachment. The Republican leader said he is still undecided on how he will vote, saying he is awaiting the “legal arguments” presented to the Senate. In the video, Trump also spoke out against what he called an “unprecedented assault on free speech” in recent days, saying that “efforts to censor, cancel and blacklist our fellow citizens are wrong and they are dangerous.” Just days after the Capitol riots, Twitter permanently banned Trump’s account, after he recently repeatedly tweeted lies about the election being fraudulent and, throughout his presidency, shared violent rhetoric in his posts. Twitter said decision was made “due to the risk of further incitement of violence.” Facebook and YouTube also indefinitely banned Trump from their platforms. Nick Note: Another reality TV show. I am afraid this is the start of the race wars. And the excuse needed for the Soviet style police state…. with a high tech component.
President Trump was impeached a second time by the US House of Representatives on Wednesday in a largely party-line vote that saw a handful of Republicans join Democrats to blame the outgoing commander-in-chief for sparking last week’s Capitol siege. The measure reached 217 “yea” votes shortly after 4:20 p.m. to make Trump the only president to be impeached twice.
The final vote was 232-197, with 10 Republicans crossing party lines and four Republicans not voting when House Speaker Nancy Pelosi (D-Calif) announced around 4:35 p.m.
No members of the GOP voted in 2019 to impeach Trump the first time. The move set the stage for a Senate trial that a spokesman for Majority Leader Mitch McConnell (R-Ky.) said won’t begin before the Jan. 20 inauguration of President-elect Joe Biden. The Republicans who voted against Trump were Liz Cheney of Wyoming, Tom Rice of South Carolina, John Katko of New York, Anthony Gonzalez of Ohio, Peter Meijer of Michigan, Adam Kinzinger of Illinois, Dan Newhouse of Washington, Fred Upton of Michigan, Jaime Herrera Beutler of Washington, and David Valadao of California. Republicans Andy Harris of Maryland, Daniel Webster of Florida, Greg Murphy of North Carolina and Kay Granger of Texas didn’t cast votes.
Earlier in the day, Cheney — the third-highest ranking GOP member of the House and a daughter of former Vice President Dick Cheney — came under fire from her party’s Freedom Caucus in response to her Tuesday statement supporting the impeachment effort.
A petition being circulated among the 44-person conservative bloc calls on her to resign as chair of the House Republican Conference, saying her “personal position on issues does not reflect that of the majority of the Republican Conference and has brought the Conference into disrepute and produced discord.” Several House Democrats — including Majority Leader Steny Hoyer (D-Maryland), who delivered the closing argument for his party — quoted from Cheney’s statement during Wednesday’s proceeding.
The article of impeachment against Trump accuses him of “inciting violence against the government of the United States” ahead of last week’s storming of the Capitol by supporters he addressed during a rally near the White House.
The riot led to five deaths, including that of a Capitol Police officer who was hit in the head with a fire extinguisher. Nick Note: This stunt Trump pulled is nothing short of treason. He is lucky they do not blindfold him at dawn and put him up against a wall
US stock futures rose, as investors looked past the likely impeachment of President Donald Trump towards the stimulus expected under the administration of Joe Biden.
Oil prices rose again, approaching a 1-year high, as investors bet vaccines and stimulus would increase energy demand.
US Treasury yields fell after a well-received government auction and Federal Reserve officials signaled they would not seek to wind down stimulus for some time.
US stocks were set to open slightly higher on Wednesday, while oil neared a 1-year high as investors looked past the impeachment of President Donald Trump to the stimulus expected under President-elect Joe Biden. After a solid start to the year, markets cooled at the beginning of this week. But investor confidence rose once again on Wednesday, despite House Democrats moving to impeach Trump for the second time. Vice President Mike Pence ruled out invoking the 25th amendment to remove Trump based on accusations that he provoked a right-wing mob to storm the Capitol. Pence’s decision sets the stage for Democrats to move ahead with impeaching Trump. Yet markets have not blinked at the political turmoil. Instead, they are focusing on the incoming Biden presidency, which is expected to bring more stimulus and stabler international economic relations. These hopes helped smaller US companies’ stock prices rise yesterday, with the Russell 2000 index jumping 1.77%. Expectations of more stimulus and higher growth pushed oil prices close to 1-year highs. Brent crude, the international benchmark, rose more than 0.3% in early trading to $56.80 a barrel, its highest since February. US benchmark WTI climbed to $53.41 per barrel, also the highest since February.
“There is good reason to believe that economic opening and oil demand recovery can kick in quite suddenly once we have managed to vaccinate those aged 65 or older,” said Bjarne Schieldrop, chief commodities analyst at corporate bank SEB. Nick Bit: BULLLLLSHITTTTT This is nothing more then market masturbation. Reality it will be a year or more before their are enough mass vaccinations to allow the economy to even begin to open up!
Yields have risen markedly in 2021 so far, as Treasury prices have fallen, with some market participants betting that the Fed could tighten monetary policy sooner than previously expected, due to higher inflation. But Boston Fed President Eric Rosengren yesterday said: “I expect it to be a little while before we’re even talking about tapering on our purchases of government and mortgage backed securities.” Kansas City Fed President Esther George also said: “Overall, the outlook is for monetary policy to remain accommodative for some time.” Jim Reid of Deutsche Bank said in a note on Wednesday: “It was an evening for market participants to reassess their views on a potential tapering schedule.” Nick Note: this bubble will bust after the happy checks give stocks one last run. When the economy they believe will have a spring revival…… turns to a but. Their will be no Easter resurrection for the masses. But untold sadness!
The US economy’s V-shaped recovery is “in tatters”, due to rising coronavirus cases and new restrictions, according to Yale economist and former Morgan Stanley Asia chair Stephen Roach.
Roach said the dollar could drop around 20% this year, thanks to the growing US budget deficit and next-to-zero interest rates at the Federal Reserve.
The former bank chair said the stock markets ‘do not seem to care’ about anything other than stimulus from the Fed.
The US economy’s recovery is in “tatters” after the latest rise in coronavirus cases and new restrictions, while the dollar could fall another 20% amid low interest rates and a yawning budget deficit, according to Yale economist and former bank chairman Stephen Roach. “The economy is slipping right before our very eyes,” Roach said in an interview, yet “the markets do not seem to care.” Roach pointed to recent economic data such as falling retail sales in November, a drop in consumer confidence and rising unemployment in December. The former chair of Morgan Stanley Asia said a “double-dip” recession is now likely. Explaining the recent rise in US stocks to all-time highs, Roach said investors were almost solely focused on Federal Reserve monetary policy.
“The markets are focusing really on one thing and that is the Federal Reserve holding interest rates at zero, no matter what happens,” he said.
“That gives the markets conviction to look through literally anything, from political insurrection to the likelihood of a double-dip, to a V-shaped recovery that’s in tatters. The markets do not seem to care.” Markets have also focused on the likelihood of more stimulus under President-elect Joe Biden and the Democrats, who last week won elections that will give them control of Congress. The Democrat victories in Georgia allowed markets to shrug off unprecedented scenes in Washington DC, where pro-Donald Trump protesters stormed the Capitol Building last week. Roach said more stimulus is “appropriate given the severe economic distress that continues to persist”. Yet he said there would be “consequences”. A higher budget deficit would lower domestic savings and increase the current account deficit, Roach argued, combining with ultra-loose monetary policy to hit the dollar. “I do see another 15 to 20% downside to the broad dollar index over the course of this year,” Roach said. The dollar has fallen more than 7% against a basket of currencies since January 2020. He said this reflected “not just the current account deficit, but the strength of the euro”. Roach added that, “most importantly”, the Fed holding interest rates at zero would forestall “a normal interest-rate hike that might otherwise boost the dollar”. However, the dollar has climbed more than 0.5% so far this year, taking the dollar index to 90.44. Rising bond yields and the prospects of higher growth have made the currency and US assets more attractive to non-US investors. Meanwhile, the division between the health of the US economy and markets continues to widen. Markets are riding the wave of monetary and fiscal stimulus and looking ahead to the middle of the year, when they hope vaccines will have allowed some semblance of normal life to return. Roach said stimulus may cause inflation “down the road”. But he said: “With aggregate demand remaining weak in the US, I think it’s going to take a while before that shows up.” Nick Note: Our strategy is complex. I expect a big bow off relief rally and a blow off top. This rally will be driven by the threats of a major uprising to be show to be blow and go nothing more. And the new Happy checks and a overestimate on the population wide effects of the vaccine. So we will trade the blow off top and take profits. Then the greatest carnage ever seen as the South African mutation slaughters the ignorant masses. Talk about out of Africa. The global economy will soon go into a shut down like never been seen of at least the G20 states. Its tricky spread trading. But i believe i can guess lucky.
Senate Democratic Leader Charles Schumer (D-N.Y.) said on that passing legislation to provide $2,000 stimulus checks will be one of the first orders of business once Democrats take control of the chamber on Jan. 20. “One of the first things I want to do … is deliver the $2,000 checks to the American families, The Senate appears headed to a 50-50 split, with Vice President-elect Kamala Harris poised to cast any tie-breaking votes. Schumer declined to provide any details on how he would try to pass legislation for the $2,000 checks, such as whether it would be a stand-alone bill, part of a broader coronavirus relief package or the first measure called up for a vote. Spokespeople for Schumer didn’t immediately respond to a question about whether the leader wants to increase the stimulus checks under the latest stimulus deal from $600 to $2,000, or if the legislation he will offer would be for new checks in the amount of $2,000. Unless Democrats are going to try to pass the checks through reconciliation – a budget maneuver that allows them to avoid a 60-vote procedural hurdle – they will need support from at least 10 Republicans in order to pass a bill providing additional direct payments.
The pledge by Schumer comes after Senate Republicans blocked multiple attempts to boost the amount of the stimulus payments included in the $2.3 trillion deal that funded the government and provided a new round of coronavirus relief. The idea of increasing the checks has support from several GOP senators but it has also drawn fierce backlash from much of the caucus over concerns about spending or that the money does not go to those most directly affected by the coronavirus pandemic. Senate Majority Leader Mitch McConnell (R-Ky.) earlier this month addressed the issue by referencing Speaker Nancy Pelosi (D-Calif.) and Sen. Bernie Sanders (I-Vt.). “While this huge new aid package takes effect, a bipartisan caucus in both chambers is not keen to let Speaker Pelosi and Senator Sanders to have universal cash giveaways regardless of needs,” McConnell said on the Senate floor. Nick Note: We are talking cargo planes full of cash dropped on the masses. For all the good it will not do. It will take a open economy and a healthy population. And body bag stuffer will not cut it. the way out of this is years from npw. In order to go to hell and back you got to complete the first part as in going to hell
BEIJING (Reuters) – China imposed new coronavirus curbs in areas near Beijing on Tuesday, putting 4.9 million people in Langfang city under lockdown as new infections raised worries about a second wave in a country that has mostly contained the disease. The number of new cases in mainland China reported on Tuesday almost halved from a day earlier and remained a small fraction of those seen at the height of the outbreak in early 2020. However, authorities are implementing strict curbs whenever new cases emerge. The National Health Commission reported 55 new COVID-19 cases on Tuesday, down from 103 a day earlier. Hebei province, which surrounds Beijing, accounted for 40 of the 42 locally transmitted infections, with the capital and northeastern Heilongjiang province reporting one local case each. In a village in the south of Beijing that shares a border with Hebei, residents were stopping vehicles on Tuesday and asking to see health-tracking codes on mobile phones. “We have to be careful as we’re near Guan, where COVID cases were reported today,” said a volunteer security officer surnamed Wang, referring to At a highway checkpoint near Beijing’s border with Hebei, police in protective gowns ordered a car entering Beijing to return to Hebei after the driver was unable to show proof of a negative COVID-19 test.
China’s state planning agency said it expected population flows during next month’s Lunar New Year period to be “markedly less” than in normal years, with a bigger share of people choosing cars over other transport. Many provinces have issued notices urging workers to stay put for the festival.
Langfang, southeast of Beijing, said its 4.9 million residents would be put under home quarantine for seven days and would be subject to mass COVID-19 testing. Also on Tuesday, China said a World Health Organization team investigating the origin of the coronavirus would arrive on Thursday in the city of Wuhan, where the virus emerged in late 2019, after a delay that Beijing has called a “misunderstanding”. Shijiazhuang, Hebei’s capital, has been hardest hit in the latest surge in infections and has placed its 11 million people under lockdown. The province has shut sections of highway and is ordering vehicles registered to Shijiazhuang to turn back. A new guideline issued by the Beijing Center for Disease Prevention and Control recommended that taxi and ride-hailing operators suspend car-pooling services, and that drivers should get weekly nucleic acid tests and be vaccinated in order to work, the ruling Communist Party-backed Beijing Daily reported. As of Jan. 9, China had administered more than 9 million vaccine doses. Elsewhere, Heilongjiang province reported 36 new asymptomatic cases in Wangkui county, which also went into lockdown on Monday. China does not classify asymptomatic cases as confirmed COVID-19 infections. Across China, the number of new asymptomatic cases rose to 81 from 76 the previous day. The total number of confirmed COVID-19 cases reported in mainland China stands at 87,591, while the death toll unchanged at 4,634. Nick Note: The Frankenstein monster returns to attack its creator. Please observe how aggressive China is attacking any outbreaks. They know how contagious and dearly the coronavirus plague really is. Of all civilized counties the US is still sleeping. Proven by record US infections and deaths. The death party is far from over. And vaccines have not been given to enough people to alter the outcome. Its time to get extreme and if you listen to the assholes around you MAYBE you can get a ventilator. For sure you will get a body bag and a shelf in a 40 foot refer container.
Federal agents spent the weekend arresting people around the nation who were allegedly part of the mob that stormed the Capitol on Wednesday after President Donald Trump urged a crowd to “fight like hell” to overturn the election results. But many of those charged with crimes for their alleged roles in the riot can thus plausibly raise what is known as the “public authority” defense – arguing, essentially, that Trump gave them permission to do what they did.
Here’s how it works. Suppose the chief of police in a town told you that you could ignore a “no parking” sign and park in an otherwise forbidden place. Suppose also that you relied on his word and parked in that place. Then, later, suppose a police officer handed you a parking ticket. You’d have a defense. Specifically, you could point your finger at the authority figure who invited you to commit the illegal act. The spotlight then turns to the authority figure: Did the chief of police have the authority to waive the parking restriction? If not, was it reasonable for you to believe that he did? Did you have reason to know that you shouldn’t park there, even if he told you that you should?
Each day, more evidence emerges that Trump and other elected officials instigated this riot. The rioters were lured to Washington with Trump’s promise that the day would “be wild.” At the rally, Rudy Giuliani – Trump’s lawyer and close adviser – called for “trial by combat.” Rep. Mo Brooks, R-Ala., told the crowd to “take names and kick ass.” Trump told the crowd, “When you catch somebody in a fraud, you’re allowed to go by very different rules.”
Journalists on the scene reported that the rioters were primed and ready for “action,” and many believed they should kill Vice President Pence. Sen. Josh Hawley (R-Mo.) gave the crowd the sign of a power fist on his way into the Capitol for the joint session of Congress that the riot disrupted. After repeatedly telling his supporters to take action, Trump said, “We’re going to walk down Pennsylvania Avenue, and we’re going to the Capitol. We going to try to give our Republicans, the weak ones . . . the kind of pride and boldness that they need to take back our country.” When the crowd arrived at the Capitol, the guards opened the door and let them in. Trump went back to the White House and watched the coverage. He was reportedly elated. That the rioters genuinely believed they were acting at the direction of the appropriate authority figures explains their mood as they posted selfies and bragged about what they were doing on social media. If you think of yourself as a soldier doing the bidding of the commander in chief, you don’t try to hide your actions. You assume you will be held up as a hero by the nation. The public authority defense is commonly used and well-known to defense lawyers. In the defining case, United States v. Tallmadge, a federally licensed gun dealer informed the defendant that his circumstances fit into an exception to the prohibition against felons owning firearms. The defendant relied on the dealer’s word and purchased the firearm. The court found that licensed firearm dealers are federal agents for gathering and dispensing information about the purchase of firearms. It was reasonable, therefore, for the defendant to rely on the dealer’s word. The defendant was thus found not guilty.
To take another example, in 2007, 12 residents of Sacramento and Fresno, Calif., were accused of plotting to overthrow the communist government of Laos. The U.S. attorney’s office dropped the charges after one of us, Mark Reichel, representing the defendants, pointed to evidence that they were lured into the conspiracy by an undercover federal agent posing as a CIA officer. The defendants reasonably believed they were acting at the urging of the American government and therefore wouldn’t be found guilty of entering a criminal conspiracy. The public authority defense doesn’t necessarily mean the rioters are off the hook: They can still be arrested, charged and brought to trial. But depending on the circumstances, a defense like this one can mitigate or even eliminate their culpability or lessen their punishment. The availability of this defense also makes it more likely that the instigators – including Trump – will face prosecution. After all, how would it look to a jury if the people who incited the failed insurrection go free, while the victims of lies and disinformation pay the price? Such an outcome is offensive to the idea of fairness and equal justice for all.
The lies maliciously and deliberately spread by Republican leaders were a direct cause of the riots. They told people that there was widespread fraud in the election, although they knew this was not true. Their victims may not have understood that judges were throwing these cases out of court because there was no evidence, but the lawyers representing the president and someone like Hawley – a graduate of Yale Law School – certainly did.
Many of the instigators of the riot – and many who spread the lies that sparked it – are now issuing carefully worded statements condemning the violence. This kind of doublespeak (instigate a riot and then disavow the resulting violence) may work in right-wing media outlets, but it should not work in a court of law, where facts still matter. Given how tenaciously some Republicans are still clinging to their right to spread lies – even now, many Republican leaders are insisting that fraud in the 2020 election was widespread – it is perhaps too much to hope that the shocking example of how these lies led to the desecration and defilement of the Capitol Building will stop them. What it may take to stop them – and deter others from spreading lies – will be seeing their names dragged into a criminal trial as part of a defense, which in turn, shines the spotlight on them. Maybe they don’t care that their lies have deadly consequences. But they probably will care about their own criminal liability. Nick Note: For over 30 years i have been giving you economic and political commentary. At no time even once have i ever advocated violence. I have been adamant that you must be OFF the radar screen nolo contendere. It may be politically correct but black white battle lines are being drawn. The poor ghetto blacks against the poor whites. Poverty in the black inner cites of America is a epidemic. This is the Black Lives Matter recruiting grounds. More blacks have been killed by other blacks then have been killed by the police, KKK or white on black violence. In the factory towns, blue collar workers and farms is where white poverty comes from. If we take a population pole of the MAGA zealots, we find they are from the poorest white rust belt factory towns and poor rural states like Arkansas, Mississippi, Georgia, Alabama and West Virgins. And to the man, women, he, she trans gender and its they also share extremely low education levels and are ethnocentrics. What is exasperating the problem is the pandemic that is increasing world poverty and these poorer populations are infected and affected the most.The populations despots have always pandered to.