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January 22, 2023

The Back Story Buzz

Six more documents found after FBI search of US President Joe Biden's Wilmington residence

The documents with classification markings spanned Mr Biden’s time in the Senate and the vice-presidency, while the notes dated to his time as vice-president. An FBI search of US President Joe Biden’s home has turned up six additional documents containing classification markings, with agents also taking possession of some of his notes, the president’s lawyer says. The search comes more than a week after six other classified documents were […]

 

The Back Story BuzzRep. Swalwell Accuses Speaker McCarthy Of “Political Vengeance” Over Planned Committee Removal

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Rep. Eric Swalwell (D-Calif.) holds that he did nothing wrong in his associations with a suspected Chinese spy and that House Speaker Kevin McCarthy’s (R-Calif.) vow to remove him from his committee assignments was an act of “political vengeance.”

 

The Back Story BuzzUS judge fines Donald Trump and his lawyer $1.3 million for ‘frivolous’ Clinton lawsuit

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A Florida judge has ordered former US president Donald Trump and one of his attorneys to pay more than $1 million for filing what he says was a bogus lawsuit against Trump’s 2016 rival Hillary Clinton and others.

  • A Florida judge accused Donald Trump of a “pattern of abuse of the courts” for filing frivolous lawsuits for political purposes
  • Mr Trump had filed suits against Hillary Clinton, former top FBI officials and the Democratic Party

 

The Back Story Buzz

Jim Jordan’s Reckless New Committee

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The creation of a House Select Subcommittee on the Weaponization of the Federal Government portends an all-too-predictable and largely unproductive cycle of interbranch friction. (The name itself betrays that the panel has already concluded that the executive branch misused its resources.) It will start with overheated demands for information. The committee’s chair, Representative Jim Jordan, has said the wide-ranging probe would include the FBI raid on Mar-a-Lago for documents that Donald Trump failed to return to federal authorities, the Department of Homeland Security probe of disinformation on social media, and the origins of investigations by the FBI and other federal agencies into contacts between the Russian Federation and the Trump campaign in 2016. The Biden administration will comply with some requests while resisting others. Republicans will denounce recalcitrance as a coverup. Fox News, for its part, will condemn any lack of transparency as Democratic hypocrisy. Democrats, in turn, will remind Americans that Jordan refused to speak to the January 6 Committee.

 

The Back Story Buzz

Fed Trap: Stock Market Won’t Rise Until Rates Drop, Rates Won’t Drop Unless Market Slides

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The economy and the stock market are stuck in a circular loop, preventing the resumption of meaningful growth. The U.S. Federal Reserve has been doing what it can to try and talk the stock market lower since late 2021, with a goal of reducing wealth-generated spending pressure on inflationary imbalances. For many months, the Fed has even been hinting at the necessary pretext for a pivot in interest rate policy from a rising (tightening credit) to falling regime (expanding liquidity), namely a bigger equity decline on Wall Street. The problem is Fed attempts to talk down prices and valuations are not getting much traction.

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