Hinderaker Claims J6 Pardon Holders Are “Good Guys”. Huh.

I guess Hinderaker is not capable of doing so, or at least no longer actually reads… any of the US newspapers… before popping off — in idiotic fashion.

One of the J6 commutation recipients was immediately picked up and re-arrested on gun charges… being a felon in possession.

Another one was picked up a couple days ago for soliciting a clearly underage girl for sexual contact.

And — in proving it crosses both genders, a woman pardoned by Trump had since killed at least one other driver, while driving drunk in 2022 — and just received a NEW ten year prison sentence. Ugh.

Yep, these are only “the best and brightest”, John. [He “doubts” any of them “will ever” face arrest again. Oops. It’s only been ten days… geez!] I can almost guarantee that cretins like Stewart Rhodes (Oath Keeper honcho) will be involved in some kind of future felony violence — in the United States.

Yikes.

You sir, are despicable.

The Solar System’s Most Volcanic Moon (Io) Just Erupted With A South Pole Lake Of Lava, The Size Of Our Lake Superior!

Io is a violent little world — stretched and squeezed regularly — by the massive Jovian gravitational forces, and bombarded by its punishing radiation.

The scale of this lava flow/volcano is astonishing: the whole orb is only about one-sixth the size of Earth (about like our Moon), so that Lake Superior sized flow covers an area proportionately equal to Texas, on our home world. That’s… just… surreal. Here’s the scoop:

…Even by the standards of Io, the most volcanic celestial body in the solar system, recent events observed on the Jovian moon are extreme.

Scientists with NASA’s Juno mission have discovered a volcanic hot spot in the southern hemisphere of Jupiter’s moon Io. The hot spot is not only larger than Earth’s Lake Superior, but it also belches out eruptions six times the total energy of all the world’s power plants. The discovery of this massive feature comes courtesy of Juno’s Jovian Infrared Auroral Mapper (JIRAM) instrument, contributed by the Italian Space Agency….

…About the size of Earth’s Moon, Io is extremely close to the mammoth gas giant [Jupiter], and its elliptical orbit whips it around Jupiter once every 42.5 hours. As the distance varies, so does the planet’s gravitational pull, which leads to the moon being relentlessly squeezed. The result: immense energy from frictional heating that melts portions of Io’s interior, resulting in a seemingly endless series of lava plumes and ash venting into its atmosphere from the estimated 400 volcanoes that riddle its surface….

[All of this jaw-slacking celestial science is the product of NASA’s vision, in extending the Juno mission.]

To be certain, that’s one baking hot spot, then! Wow… and by 2030 or so, ESA’s Europa Clipper will be circling another moon out there, looking for water lakes / life — under its ice-shelves. So both extremes — and all in one neighborhood. Grin. Onward.

नमस्ते

Mirengoff Thinks That Maybe Since Colombia Isn’t “Too Bad”…

…The US shouldn’t have to comply with its treaties.

Damn.

What a malignant putz.

The idea that because Trump is in office (again), we should all just ignore 75 years of legal obligations… to let him do what he wants to do… is exactly what Paul Mirengoff swore he would not do, when he took his oath — as a member of the state and federal bars, now over 48 years ago.

But I guess times changed. Maybe… for him.

For me, they have not.

Out.

Hinderaker Knows Nothing Of “Polite Society’s Views” — And Even Less, About NY Criminal Law.

As ever, Hinderaker clutches at straws — in the hope that middle America will forget Tangerine’s 50 year crime spree.

Hilarious.

Hinderaker thinks because someone from Big Law… is willing to be paid around $2,200 an hour to handle Tangerine’s NY appeal of 34 felonies… that means “polite society” loves Trump again.

John should… lay off the Ketamine.

What a delusional, and wacky idea that is!

Out.

Tangerine 2.0: That “Freeze Memo”?! Uh… “Never Mind. My Bad.” Obs.: The Inmates Are Running… His Asylum.

So, it was effectively enjoined in 14 elapsed hours, in DC federal court, last evening — and Tangerine 2.0 has now rescinded it — since it is a complete non-starter. [Confidential Second Nota Bene — to Scott Johnson. What’s that you say?! I guess you didn’t read that one, either, huh?! What a putz.]

Sheesh — these people are… malign idiots. Here’s the NYT headline:

…The White House rescinded an order on Wednesday that froze trillions of dollars in federal grants and loans and sparked mass confusion across the country. A federal judge had temporarily blocked it on Tuesday….

I suspect the hearing on a PI/TRO will still go forward on the morning of February 3, 2025, in DC — since he seems to flip-flop — with the prevailing winds. Onward, resolutely — once again, as in 2017-2020… it seems “the inmates are running the asylum“. Yikes.

नमस्ते

We. Just. Can’t. Make. This. Up.

In Iteration 2.0, there are no competent people willing to serve in his cabinet.

Exhibit A: the Kennedy Senate hearings. Here’s the NYT, just now:

…Kennedy, speaking on Medicaid: “The premiums are too high, the deductibles are too high, and everybody’s getting sicker,” he said.

But Medicaid has no premiums or deductibles….

It is… in no manner like private insurance. He’s a buffoon. Nothing more.

नमस्ते

As A Rule, I Am Not A Huge Fan Of Stock Buybacks, At Otherwise Very Healthy ’34 Act Public Behemoths. But I Get The Argument.

The idea here… is that if there is longer term selling pressure, the company itself is more than able to absorb volume from would-be sellers, ones who’ve reached their price target. Okay — yes, that — and the idea that it is a “bank of demand” should there be a price drop not driven by long term fundamentals.

But personally, when the overall market cap at Merck is around $250 billion — and daily trading volume averages around a billion dollars a day… a $10 billion program is only ten days of volume, and looks to be… immaterial in the long run — against that market cap. [Any silly sell-off might last more than ten trading days — is my thesis, to be clear.]

Moreover, I’ve long thought that buyback announcements (perhaps unintentionally, I’ll grant you) express an implied view from the CEO (Mr. Davis, in this case) that he cannot think of anything better to do with the scads of cash the company throws off. [Unlike some small caps, I firmly believe he will deploy the authority the board granted him, because he has scads of excess cash available.]

That is, I’d say the buyback is simply a bet that $10 billion being “invested” — at [by definition] exactly the overall cost of capital, of the company… implies Mr. Davis thinks that may be better than funding a new therapy (with far less certain chances of ultimate success). To my eye, it is playing “not to lose“… rather than playing “to win” — with vast potential returns inside one’s own lab awaiting (as we saw in the risks taken by Mr. Frazier, to grow up Keytruda, over the last decade).

Me? I’d rather play to win — than basically invest in a forced / Merck-focused index fund, of sorts.

But that’s just me. Your mileage may vary — in fact, I am pretty sure it does.

But to be clear, as an ordinary shareholder, this program will not allow me to call up Rahway, and say “Hey, please buy back my shares” — not without paying a brokerage commission, at least — unless you might be an ex-employee granted that right in a long ago stock purchase plan. [And, for you old-skool folks, such a feature was not uncommon in the go-go 1980s. Sans commissions — which used to be a much larger part of what it cost to exit an NYSE blue chip stock like Merck. Now you know.]

Onward, grinning into the sunshine. End, power alley — for today.

नमस्ते

In Which It Becomes Clear: Scott Johnson… Has Read NOTHING, In The NCNP v. OMB Federal Suit…

Y A W N.

Well. Scant surprise, here — Scott Johnson pops off about some BS — stuff he made up, of whole cloth — comparing this to “communism” (WTH, man?!).

Again. He’s burping up nonsense — as to which he’s not even bothered to open and read the relevant pleadings. They are public record federal filings, man.

Open with just a modicum of intellectual curiosity, if you feel like you need to be barking at the moon, for Pete’s sake. [Or yelling at the kids to “get off your lawn!“, more appropriately.]

Scott’s take is that the able USDC Judge in DC mis-applied the federal law. Quite the opposite. She’s preserved the status quo ante, until next Friday’s hearing on a TRO.

Scott quotes the factors for a TRO — but they were not in play yesterday. Yesterday was about the undisputed fact that the MAGA US agents cannot promulgate secret “laws” — or rules — not without publishing the final text of an actual rule, in the Federal Register and allowing a 90 day notice and comment period, at a minimum — ever since 2014.

Scott should support that — it is good for business. And it was (and is) the law that Mr. Obama, Tangerine 1.0 and Mr. Biden lived with.

Tangerine 2.0 is all about useless chaos at the moment. Yawn. We won’t be moved — or lulled into apathetic acceptance of his lawlessness.

About 98% of the executive orders I’ve read from him (just so far) suffer from fundamental legal defects — mostly, they exceed any lawful authority he might ever possess, without all new Acts, from the Congress (and then, and only then, signed by a president).

So Scott, you ought to just… sit this one out.

Let the adults who can and will read… sort this out.

Tangerine will see a nationwide TRO against his lawlessness, come next Friday. Bank on it.

Out.

[U: Freeze, Enjoined! Woot!] NYT Reporting: Tangerine 2.0 Has FAILED To Freeze… All Medicaid Payments To The States.

Update: A federal district court just paused Tangerine 2.0’s silly, dangerous freeze order. Exactly!

I’ll have more later this evening, and but this first graphic is from 2016-17 state level attempts at it — [new one now baked, below!]….

I’m stuck in a meeting — this is deplorable:

…States Say Medicaid Payments Pause as White House Defends Funding Freeze….

President Trump’s order freezing trillions of dollars in federal grants and loans seeks to eliminate all spending on programs that violate his partisan ideology….

This is an attempt to use chaos — to numb everyone out. I’ll resist. He has zero power to impound or sequester prior Congressionally mandated funds flows — ones the states have accepted, and relied upon.

Period.

Full stop. The border wall cases in the Ninth Cir. established that, in the 1.0 version of this lunacy.

Here’s the complaint — from the National Council of Nonprofits — upon which the able USDC Judge in DC just granted a TRO — against Tangerine’s “non-published (and thus, loony!) secret orders“:

…Just yesterday evening, reports surfaced that the Acting Director of the Office of Management and Budget issued a memorandum entitled “Temporary Pause of Agency Grant, Loan, and Other Financial Assistance Programs.” Memo M-25-13 (hereinafter “the Memo”). The Memo purports to require every federal agency to temporarily pause “all activities related to obligation or disbursement of all Federal financial assistance, and other relevant agency activities that may be implicated by [President Trump’s] executive orders, including, but not limited to, financial assistance for foreign aid, nongovernmental organizations, DEI, woke gender ideology, and the green new deal” — effective today at 5:00 p.m. Memo M-25-13 at 2. In practice, the Memo purports to eradicate essentially all federal grant programs. Acting Director Vaeth’s only stated basis for doing so is his belief that “[f]inancial assistance should be dedicated to advancing Administration priorities,” and that “[t]he use of Federal resources to advance Marxist equity, transgenderism, and green new deal social engineering policies is a waste of taxpayer dollars that does not improve the day-to-day lives of those we serve. . . .”

This Memo — made public only through journalists’ reporting, with barely twenty-four hours’ notice, devoid of any legal basis or even the barest rationale — will have a devastating impact on hundreds of thousands of grant recipients who depend on the inflow of grant money (money already obligated and already awarded) to fulfill their missions, pay their employees, pay their rent—and, indeed, improve the day-to-day lives of the many people they work so hard to serve….

Although the Trump Administration is at liberty to “advanc[e] [its] priorities,” it must do so within the confines of the law. It has not. The Memo fails to explain the source of OMB’s purported legal authority to gut every grant program in the federal government; it fails to consider the reliance interest of the many grant recipients, including those to whom money had already been promised; and it announces a policy of targeting grant recipients based in part on those recipients’ First Amendment rights and with no bearing on the recipients’ eligibility to receive federal funds.

Given the few hours that remain before federal grantees are thrown into disarray, Plaintiffs file this Complaint and seek a temporary restraining order to maintain the status quo until the Court has an opportunity to more fully consider the illegality of OMB’s actions….

[Previously,] OMB published in 2013 a notice of proposed rulemaking to revise and streamline guidance related to federal financial assistance. In 2014, it published what is now known as the OMB Guidance for Federal Financial Assistance (“OMB Guidance” or “Guidance”) at title 2 of the Code of Federal Regulations (“CFR”). 79 Fed. Reg. 75867. The Guidance specifically requires federal agencies to “implement” the Guidance “in codified regulations unless different provisions are required by Federal statute or are approved by OMB.” 2 C.F.R. § 200.106. [Ed. Note: None of this was done, by Team Tangerine 2.0. Game over.]

The Memo marks the consummation of OMB’s decision-making process because it announces the agency’s decision to immediately suspend the obligation or disbursement of all federal financial assistance. The Memo is an action by which rights or obligations have been determined or from which legal consequences will flow because it purports to stop lawfully authorized obligations and disbursements that would be paid pursuant to valid federal grants….

The man is a straight up malignant… loon. And a wanna-be dictator. Not on my watch — NoSireeBob! Here’s the order, as entered. Next hearing will be February 3, 2025, at 11 AM, in DC… Grin.

नमस्ते

Mirengoff Equates Tangerine 2.0… With Michael Corleone, In Godfather Part 2.0?!

This is fundamentally… sad.

A once-learned, if reactionary- man… thinks it cute — and / or glibly humorous to draw an approving line — from a 50 year old film mob bossdirectly, to the jamoke sitting at 1600 Penn.

This sh!thole Tangerine, and guys like Mirengoff (in applauding him, and egging him on) are shoving our nation down into — as a moral matter… is simply… jaw-slacking.

But whatever, Paul — you own the Corleone “murderer of prostitutes” (now called sex workers), yourself.

You just said so.

What a… demented, malign pair of losers — you both are.

Out.