The Frankish Reich

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.

Market futures imply all major indexes will open down 4-7%. Even Bitcoin is down. Oil is tanking. Margin calls are coming. Trump will stupidly/unconvincingly declare victory over something or other and back down. His billionaire false friends can't take it anymore. I say it happens by tomorrow (Monday 4/7) afternoon. Anyone disagree?

Oh, and all market futures down on the order of 4% tonight. Look, we all know that even the stupid and mulish Trump will find some lame excuse to put his tariffs "on hold" or some such thing, probably declaring victory because Indonesia didn't retaliate or some such thing. But for now, he's letting it ride all the way to Hooverville. And of course small caps are getting hit the hardest - they are least able to adjust supply chains or eat short-term tariff losses.

Good news! WTI crude futures now under $60 Bad news! Traders are factoring in a recession with associated drop in demand Worse news! How you gonna make 'em drill drill drill baby when the market price drops below production costs? It's almost as if it's not so simple as raise tariffs, make America great.

No. The point is Jake Tapper disavowed being a liberal, just as Fox New tries to convince us that they are fair and balanced.

Clearly true. They used retail instead of wholesale.

Western Lensman doesn't question that Fox News is "fair and balanced."