The Frankish Reich

the DOJ attorney was put on the spot. He was likely going to be cited for contempt himself. He's an attorney; he has no power to "order" anyone in DHS to do anything. All he can do is advise them about how to comply with the judge's order or how to seek a stay of it. He also has a duty of candor to the court. That's in every attorney's ethics pledge. He can lose his license if he violates that duty. So he told the truth: Q. Why can't you bring him back? A. I've asked that question of people with decision-making authority, and I haven't received an adequate response. DOJ's response? Pam Bondi puts him on "administrative leave." And accuses him of not vigorously advocating for her position. For telling the truth. She is free to go before that judge and lie to him if that's what she wants to do, putting her own bar license on the line. I hate when these people try to throw a decent, hard-working lesser government employee under the bus. That's what they did here. Shameful.

https://www.nytimes.com/2018/05/22/world/asia/trump-korea-summit.html

I hear that Shohei Otani was just ecstatic about the Nikkei 10% drop.

We could use some good news. Something we can agree on: Thank God.

Dave Chappelle is not quite ready to start working in a Vietnam-style Nike sweatshop.

Not plausible with respect to the penguin islands, since there is no way to trans-ship items there to make them ostensibly "products of McDonald Island." That's why I'm going with the simplest explanation: they used an AI to populate the name of every "country" in the world, probably based on domain name assignments. It just makes more sense than some real human adding the penguin islands to the list.

I'll admit I'm of two minds here. Because I do care about our national interest first and foremost, I'm willing to take a hit to my investments for the greater long-term good. But I have a totally different idea of our long-term interest. It is to be governed by sensible men and women, not given to crazy whims of one old man. It is to see Congress reassert its tariff power - expressly granted to Congress and only Congress. And to see a restoration of normal functioning government where bills are debated in Congress and where the President's power is limited, whether that be President Biden or President Trump. This "crisis" could bring that opportunity. Wouldn't it be a terrible thing to waste?

Anti-vaxxers having a helluva week. RFK Jr. kinda sorta advises that kids get that autism-causing poison.

It wasn't "false." Hassett went out there and - at a minimum - didn't deny that Trump was considering a 90 day pause. The markets reacted immediately. They then clawed it back. If Trump is under no circumstances going to pause his retaliatory tariffs, it's not hard to say exactly what Peter Navarro or Trump himself said yesterday: the tariffs are not subject to negotiation or review, and will go into effect on April 9. Meanwhile, Hassett's equivocal response briefly calmed the markets and cut off the margin call triggers that would have spiraled us deeper into the decline. I don't think that was coincidental.

I think this is all Trump. Bessent, given his background, cannot be a true believer. Neither is Hassett. These are smart guys. Unfortunately Trump seems to trust Lutnick most, and he's smart but a total self-interested greedy jackass.

In which the sole author of the biggest tax increase (these tariffs) in decades tries to shift blame to Democrats.

The difference here is that Biden stumbled and bumbled his way into runaway inflation. It appears that he actually didn't see (thanks to his economic/political team, mostly the political part) the inflation risk of pushing even more federal deficit spending. Trump is actively trying to disrupt the global economy, and is counseling patience through upcoming hard times. He deliberately is making this downturn happen.

I'm thinking the same thing because my sister just put her house on the market. What I told her (admittedly based on guesswork): don't panic. These tariffs will come down or be suspended shortly. The investor class will rebel against Trump if he doesn't. Mortgage rates may go down a bit to offset the loss of down payment money potential buyers may have suffered. But this is what happens when the US allows one man - here, a very unstable and not too smart man - to have such massive control over the world economy. This is why the founding fathers gave tariff authority to Congress before Congress willingly gave it up.

Senile ADHD at work this last week.

Fake news? Kevin Hassett said it to ... FOX. Q. Will the President consider a 90-day pause? Hassett: Yeah, well ... [the president's gonna do what he's gonna do] Market manipulation? A broken WH comms team? You tell me. But not fake news.

Dave Chappelle this weekend. Check it out. Nails it. Oh, it's Trump. Never mind. Let the carnage continue until the next rumor of restored sanity.

Called it! 90-day "pause" is coming. Kevin Hassett says so. Just as the S&P hit bear territory. By the way, if these jackasses around Trump (including his family) aren't trading on the insider info I'd be shocked. Hundreds of millions to be made by being just a few minutes ahead of these Trump ponderings.

Wait for: 1. Markets on Monday morning. 2. Polling (internal or public) This is so stupid he'll be pushed into killing it. Yes, even Trump.

Bill Ackman, yesterday's MAGA hero for calling out Harvard and Columbia, quoted today: "this is not what we voted for." No, Bill, I'm sorry. This is exactly what you voted for. https://thehill.com/homenews/administration/5235232-ackman-warning-trump-tariffs/

Ridiculous take then since say what you will about Pete, he's obviously very intelligent and very locked-in politically. You see, to work a joke needs to pick on some foible recognizable in a public figure. If it's that Pete is just a little too committed to family life while doing an important job, well, that's fine. But the use of "maternity" is a sure giveaway. That's what makes it clearly a hahah, he's gay joke. Fine explanation. You should be ashamed that you shared that one.

I was curious enough to do some googling. All I can say is that reports are contradictory and anything but clear cut. Maybe the MSM is waiting to do some, you know, actual digging - what we used to call investigative reporting - instead of posting the hot takes that dominate on Twitter and here?

No, Tiktok got another 75 day reprieve. Because the law is only the law when you like it.

Yes, of course. Do you ever wish a Trumpist with a brain (DeSantis?) had won?

Whoever said "welfare" needs to be needs-based? We talk about the Scandinavian "welfare state" all the time, and the vast majority of those programs - old age state pensions, medical care, childcare, etc. - aren't need-based. If you want to say SS isn't need-based, well, then just say that. One man's welfare is another man's "transfer payment."

It is, but it isn't actuarially sound. You can generally expect to get back way more than what you paid in, even accounting for inflation/time value of money. So is it welfare? Well, it's called Old Age Insurance, but it's more like an Old Age Transfer Payment.