Ready for Another Impeachment?

As we all know, Trump was impeached twice. Now his political enemies are using lawfare against him in order to derail any chances of him winning the 2024 election.

Around 75 million Americans voted for Trump in 2020 (potentially more, depending on the level of election fraud). With those kinds of numbers, it’s easy to see why Democrats wouldn’t want Trump to be able to run in 2024.

Not much needs to be said about the fanatical effort to put Donald Trump on trial and convict him of various crimes before the election.

These efforts have almost nothing to do with the normal administration of law and everything to do with an obsessive desire by elites of both parties and the media to destroy Trump.

Alan Dershowitz, the former Harvard law professor who opposes Trump politically (he twice voted against Trump) actually wrote a book about it called “Get Trump.”

Dershowitz is a liberal who doesn’t like Trump. But, he’s a principled constitutionalist who believes in the rule of law. And he’s appalled by how Trump’s political enemies are destroying the rule of law and trashing the Constitution just to get rid of Trump.

I don’t write this as a Trump partisan. I have a lot of criticisms of Trump.

I’m Just Calling Balls and Strikes

One is his abysmal appointments while president including Jeff Sessions (Attorney General), Christopher Wray (FBI), and David Weiss, the U.S. Attorney for Delaware who gave Hunter Biden the sweetheart plea deal (fortunately rejected by the presiding judge).

Trump also failed to fire holdovers such as James Comey and Mark Milley who did enormous harm to justice and U.S. national security before they finally left their positions.

Trump was a complete failure when it came to building the wall on the Mexican border. He only built about 200 miles out of an estimated 1,800 miles needed. Blaming Nancy Pelosi for not funding it is for whiners. A more determined president would have found the money and told Pelosi to pound sand.

Trump’s handling of the pandemic was juvenile at a time when real leadership was needed. His shouting matches with Andrew Cuomo were an example of two elementary school wimps from Queens fighting in the sandbox instead of getting things done.

You get the point.

Still, I’m a lawyer. I respect the law. My view of Trump as president is irrelevant to my view of how the law is being abused in his case. There were four indictments handed up from four Democrat prosecutors, two at the state level (New York and Georgia) and two at the federal level.

About 100 separate felonies were alleged in the four indictments. Most of them make no sense at all. They are tortured readings of statutes never enforced in the manner applied to Trump (the NY Stormy Daniels case), simple exercises in free speech dressed up as a “racketeering conspiracy” (Georgia), or not supported by evidence (the January 6 case in which Trump actually urged peaceful protest).

Trump is likely to be convicted on some of these charges because the cases are brought in mostly Democratic jurisdictions (New York, Miami, Washington DC, and Atlanta) where a fair trial may be impossible.

Ready for Another Impeachment?

2024 is going to be a very interesting year as these trials unfold. But that’s not the only reason why 2024 is going to be interesting.

Are you ready for another impeachment of a president? Well, you should be because one is definitely coming.

Today, House Speaker Kevin McCarthy announced intentions to open a formal impeachment inquiry into Joe Biden over corruption charges. Here’s what McCarthy said:

These are allegations of abuse of power, obstruction and corruption. They warrant further investigation by the House of Representatives. That’s why today I am directing our House (committees) to open a formal impeachment inquiry into President Joe Biden.

Where is this going?

The Republican-controlled House of Representatives will begin impeachment proceedings against Joe Biden in the next several months.

The proceedings will last for a month or more and then the House will vote to impeach Biden, probably in February 2024. The impeachment articles will then be delivered to the U.S. Senate, which will vote on whether to remove Biden from office.

A two-thirds vote is required to remove a president who has been impeached. It’s unlikely the Senate will have that many votes to remove Biden. But the possibility could be used as leverage by the Democrats to persuade Biden to resign or not run again for office.

Such a decision by Biden would then clear the way for Gavin Newsom or others, including Michigan Governor Gretchen Whitmer and Illinois Governor Jay Pritzker, to run for the Democratic nomination for president.

No, the mainstream media won’t tell you any of this. But it’s happening.

Impeachment Must Go Forward

Professor Jonathan Turley of George Washington University Law School has explained why the impeachment must go forward. This includes the cascade of information about the bribery of the Biden Crime Family and its related money laundering and tax evasion along with the corruption in Merrick Garland’s Justice Department in covering up the Biden crimes.

This impeachment will not be a rushed Mickey Mouse affair like the two impeachments of Donald Trump orchestrated by Nancy Pelosi in 2019 and 2021. The Pelosi impeachments of Trump were on flimsy charges.

In fact, Trump was impeached for asking Ukrainian President Zelensky to investigate Biden crimes in Ukraine that we now know actually happened. Instead, the impeachment of Biden will look more like the Nixon impeachment hearings of 1974 led by Congressman Peter Rodino of New Jersey.

Rodino’s hearings were sober, dignified and rigorous. Both parties had the opportunity to debate the issues, both pro and con. Ample evidence was provided. In the end, Nixon was not impeached, but resigned once members of his own party explained that impeachment and removal from office were just a matter of time.

Something similar may happen this time.

Massive Uncertainty for Markets

The House may prepare to impeach Biden at which point Democratic members of the Senate may persuade Biden to resign. This suits their purposes because they want to get rid of Biden anyway as he’s senile and might lose the 2024 election (not even rigging the election like they did in 2020 might be enough to carry Biden over the line next time).

This impeachment scenario could play out in a number of different ways. I’ll be watching it closely.

Meanwhile, the entire affair can be a very damaging show and create huge uncertainty for markets.

Combined with uncertainty surrounding the Trump prosecutions, investors should prepare for the uncertainty and volatility that’s waiting right around the corner.

The Daily Reckoning