Impeachment:  Donald Trump sets another record


By mid-morning on Friday, December 13th, 2019, Donald J. Trump the nations 45th President of the United States set another record.  Surely, he likes to boast of all of his achievements and this one puts him on top of the list.  He became the first POTUS (President of the United States) in the history of the House of Representative’s Judiciary committee to vote for his impeachment – during his FIRST TERM.  The formal process has moved to the full House and in several days his official impeachment is imminent. Of course, impeachment is a political process.  The House has the sole purview to issue an indictment or charge.  The next step known as the formal hearing or trial is the sole purview of the Senate and as of this writing, despite strong evidence of guilt, it is likely he will be acquitted as the charges are very likely to be dropped.

Did he bring this on himself?

Donald Trump prides himself on being his own spokesperson.  He often brags of his media prowess and how he is a master of manipulating others in agreeing and supporting his ideology.  A quick analysis of the issues which have stymied his presidency is beyond political opposition or as he likes to state; those who hate him.  In fact, most of his problematic issues could be defined as self-inflicted or those he brought on himself.  His constant tweeting, badgering people, making ridiculous comments and other things unimaginable to be sprouted from the president of the United States bring direct radar on him.

He thought he received a reprieve from the Mueller report as even though it was strategically misconstrued by him and his supporters the only thing that saved him was the Office of Legal Counsel ruling.  In fact, the report clearly stated any remedy to deal with his behavior was the impeachment process.  Yet, he and his supporters have insisted the report was a flop and a big waste of taxpayer funds.

The threat

Many have concluded Trump’s actions are the sole reason why impeachment is even discussed. He and his team of mouth-piece acolytes have insisted those who attempt to reign in his behavior or try to impeach him will suffer greatly.  They try and compare his impeachment to Bill Clinton’s, who escaped being removed from office as those who pushed it were promptly voted out of office at the next election.  It is a dare worthy of consideration but surely one Speaker of the House Nancy Pelosi has assessed.  Her main benchmark is understanding the worse case scenario of being removed as the majority but weighing the alternative in doing nothing or accepting the intimation that is touted by Trump, which would be a terrible reaction in allowing his consistent disruptive behavior to go unchecked.

 

Conspiracy theories

“The more I can create alternative realities are better for me because people will be looking elsewhere which allows me to do what I want.”  Donald J. Trump

 

Perhaps the fuel or motivation for Donald Trump to operate is his insatiable appetite for conspiracy theories.  The more outlandish, the better.  The humiliation he suffered at the 2011 correspondent’s dinner when President Barack Obama put an end to his tirade over his birth certificate was not enough.  It seems each month or each week he belts out another conspiracy theory.  Sadly, precious time and millions of taxpayer resources are wasted tracking down to what only can be summed up as a “fool’s errand.”

“Donald Trump wants you to believe the Mueller report cleared him from any wrongdoing.  Further, he has no respect for the people of the United States (unless you absolutely agree with him) as well as the constitution.  We have a duty.”  Nancy Pelosi, Speaker of the House of Representatives

Trump is a proud person and despite solid evidence from officials whose job is to determine fact from fiction, he will not accept that Russia interfered with the 2016 election.  Instead he adopted the premise that the real culprit was Ukraine.  Holding what he assumed was his literal “trump” card he waited and waited for the right time to use the power of his office to make clear his notion was more than a theory; it instead was a fact.

 

Fast forward, following the House of Representatives authorizing nearly 400 million dollars in military aid to Ukraine, Trump known for his savvy business behavior which some have defined as “gangster” crafted a plan to leverage the aid for a favor the Ukraine government must provide before its release.

Unfortunately for him, his actions were uncovered and as they say “he was caught in the act.”  Once it became clear how his plan was mapped out, he was doomed.  There was very little doubt, at least from those with a modicum of objectivity to conclude his actions were in violation of the Constitution.  Sadly, his actions were avoidable.

One could conclude it is very difficult to rehabilitate a person’s behavior, especially if they are in their 70’s.  What he defined as a “perfect call” is anything from being perfect.  It’s the call and subsequent knowledge of the overall scheme in handling the aid earmarked for Ukraine which has granted Trump the dubious honor of achieving the first person in U.S. history of being impeached during his first term.


Mortgage rates jump on speculation of a tax deal


It was in the middle of July when mortgage rates were at 4%.  Based on yesterday’s mortgage rate survey the benchmark 30 years mortgage jumped six basis points in week over week reporting and came in at 3.960%.  Most know rate movement is cyclical so the increase must be viewed  based on trends not as an isolated incident.

Industry experts attributed the jump to the increase of the yields on the 10-year Treasury bond, which jumped nearly 10 basis points.  The 10-year bond is the primary indices which affect movement on the 30-year mortgage.

 

The markets reacted based on anticipation that a tax deal may be accomplished?  Also, yesterday the Senate passed procedural regulations  known as a budget resolution making it a bit easier for a deal to be reached.   If things work out as projected, it would mark a key win for the Trump administration which has been bogged down since taking office by not being able to tout any legislative victories.

 

In the meantime, homeowners who are purchasing a property or attempting to refinance their existing mortgage are gauging rates to make sure their budgets are not negatively impacted.

Here is a snapshot of this week’s rates:

October 26, 2017

30-Yr FRM 15-Yr FRM 5/1-Yr ARM
Average Rates 3.94% 3.25% 3.21%
Fees & Points 0.5 0.5 0.4
Margin N/A N/A 2.74

The Freddie Mac rate survey is published every Thursday.  It is an industry standard and used to gauge mortgage movement.