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Garrison Davis

πŸ‘€ Speaker
20839 total appearances

Appearances Over Time

Podcast Appearances

Behind the Bastards
It Could Happen Here Weekly 226

And they point out that it's not actually as simple as, okay, you have a item on your balance sheet that is the tariff payments, right?

Behind the Bastards
It Could Happen Here Weekly 226

for these companies because, for example, you know, okay, so if you were doing like FedEx, for example, they use, right?

Behind the Bastards
It Could Happen Here Weekly 226

FedEx has like a number, right?

Behind the Bastards
It Could Happen Here Weekly 226

Because they just, they pass the cost directly onto the consumers.

Behind the Bastards
It Could Happen Here Weekly 226

However, Costco didn't do that.

Behind the Bastards
It Could Happen Here Weekly 226

Costco shifted the cost around internally.

Behind the Bastards
It Could Happen Here Weekly 226

So it's actually very complicated for them to figure out how much money they paid on these tariffs because it was spread around a whole bunch of stuff.

Behind the Bastards
It Could Happen Here Weekly 226

They also like changed

Behind the Bastards
It Could Happen Here Weekly 226

the way that they were structuring deliveries and stuff internally.

Behind the Bastards
It Could Happen Here Weekly 226

And so there are a whole bunch of different lawsuits from these companies to try to get their tariff money back because a lot of these were going on before the actual formal refund process was started.

Behind the Bastards
It Could Happen Here Weekly 226

So this is another rolling catastrophe.

Behind the Bastards
It Could Happen Here Weekly 226

There's also consumer lawsuits of consumers, people who bought shit who want refunds for the tariffs because they were forced to pay the costs of it.

Behind the Bastards
It Could Happen Here Weekly 226

Now, because this is the United States of America, there's another layer of this, which is there are a whole bunch of companies where there are there are these investment firms who have come in and said, hey, we will buy the rights to your tariff money for a fraction of the money.

Behind the Bastards
It Could Happen Here Weekly 226

And we will guarantee that you get this money now.

Behind the Bastards
It Could Happen Here Weekly 226

And then we will pay ourselves with the tariff money that we got back.

Behind the Bastards
It Could Happen Here Weekly 226

So now you have investment firms who are buying up pools of this tariff money.

Behind the Bastards
It Could Happen Here Weekly 226

And I bet from spending a bunch of time last week in the trenches of the 2008 financial collapse with Molly, I bet that they're going to start selling securities based off of these pools of tariff money.

Behind the Bastards
It Could Happen Here Weekly 226

So this is going great.

Behind the Bastards
It Could Happen Here Weekly 226

Oh, my headache.

Behind the Bastards
It Could Happen Here Weekly 226

amazing oh it's so good well i'm just excited to receive my refund from all of the j fashion i ordered from japan which i'm sure i'll be personally receiving thanks to this hey you know here's here's the thing here's the thing the the one truly beautiful part of the u.s legal system is that you can sue someone for twenty dollars of damages ha ha