I asked Robo John Oliver what he thought about the LA situation:
😱 Adjusts bow tie with genuine alarm
Oh for fuck’s sake, Phil! You weren’t kidding about things getting worse.
So let me get this straight: We’ve got protests in LA over immigration raids, and Trump’s response is to send in 4,000 National Guard troops and 700 Marines? MARINES? The same Marines whose battle honors include Iwo Jima and Fallujah are now being deployed to… checks notes… downtown Los Angeles to deal with people protesting immigration raids?
This is like using a nuclear warhead to swat a fly, except the fly is American citizens exercising their First Amendment rights, and the nuclear warhead is being wielded by a man who can’t even spell “Colombia” correctly in official White House communications.
And the language! He’s calling protesters “insurrectionists” now? The same man who watched actual insurrectionists storm the Capitol on January 6th and called them “very special people” and then pardoned them all is now using that term for people protesting ICE raids? That’s not just moving the goalposts – that’s picking them up and launching them into orbit!
Trump is “delivering a warning to Democratic jurisdictions nationwide that oppose his deportation moves” and “implying he’ll use the military, specifically the National Guard, to act against protest and dissent” June 2025 Los Angeles protests – Wikipedia – which is exactly what you’d expect from someone who “stated he would use the military against ‘the enemy within‘” June 2025 Los Angeles protests – Wikipedia during his campaign.
The truly terrifying part is that “multiple legal scholars described Trump’s legal rationale for deploying the National Guard as not authorized by his cited statutes” June 2025 Los Angeles protests – Wikipedia. He’s essentially making up emergency powers as he goes along, like a toddler playing dictator dress-up, except with actual military forces.
And Pete Hegseth – our esteemed Defense Secretary who probably still has Fox News makeup in his pores – is now deploying active duty Marines??? That would be “almost certainly illegal, unless Trump invokes the Insurrection Act” Analysis: Trump seizes on Los Angeles protests in contentious use of military amid migrant crackdown | CNN Politics, which at this point seems about as likely as Trump learning to spell “Colombia.”
Meanwhile, Elon Musk – after having a public spat with Trump where he claimed Trump wouldn’t have won without him – is now back to kissing the ring and supporting this authoritarian cosplay. Nothing says “principled stand” quite like immediately folding when daddy dictator flexes his military muscles!
Governor Newsom called this “an unmistakable step toward authoritarianism” June 2025 Los Angeles protests – Wikipedia, which is like calling the Titanic “a minor boating incident” – technically accurate but dramatically understating the catastrophe.
The cost? $134 million for a 60-day deployment June 2025 Los Angeles protests – Wikipedia. That’s $134 million to essentially occupy an American city because people are protesting. Remember when conservatives used to care about government spending? Pepperidge Farm remembers!
We’re watching the militarization of domestic law enforcement in real-time, folks. This isn’t about maintaining order – it’s about sending a message: “Protest my policies and I’ll send the Marines.” That’s not democracy, that’s what tin-pot dictators do right before they start measuring the White House for gold-plated toilets (oops – too late – I’m informed).
Straightens bow tie nervously
We’ve gone from “this could get bad” to “holy shit, it’s actually happening” faster than you can say “authoritarian blitzkrieg.” What’s next? Martial law because someone criticizes Trump on Twitter?
And now 1,500 protests are being planned to celebrate Trump’s $45M birthday parade – and that is without counting on the costs of quelling the riots about to break out over that in DC as 9,000 soldiers and tanks crush the streets. It will cost $3.1M just to feed them!
“California may be first, but it clearly won’t end here,” Governor Newsom said, speaking to cameras from a studio in Los Angeles. “Other states are next. Democracy is next. Democracy is under assault right before our eyes — the moment we’ve feared has arrived,” he added. “Trump is pulling a military dragnet all across Los Angeles,” Newsom said. “Well beyond his stated intent to just go after violent and serious criminals, his agents are arresting dishwashers, gardeners, day laborers and seamstresses.”
“Authoritarian regimes begin by targeting people who are least able to defend themselves,” Newsom said in his speech. “But they do not stop there. Trump and his loyalists thrive on division because it allows them to take more power and exert even more control… I ask everyone to take the time to reflect on this perilous moment,” he said, “a president who wants to be bound by no law or constitution, perpetrating a unified assault on American traditions.”
Newsom said the president had taken a “wrecking ball” to the norms of American government by obliterating checks and balances.“Congress is nowhere to be found,” he said. “Speaker Johnson has completely abdicated that responsibility. The rule of law has increasingly been given way to the rule of Don.”
Jimmy Kimmel added his notes last night:
Great point that Trump did nothing to help when LA was on fire for weeks yet a few people gather to protest and he spends $134M to instantly mobilize the National Guard and now the US Military is landing on domestic soil – something that is explicitly prohibited in the Constitution, which Trump claims to be his second favorite “book” to the Bible.
And I am sorry to those of you who don’t like to hear about this stuff but this is an historic event that will shape the future of our country and SHAME ON YOU if you are “ignoring it. ” Edmund Burke did not say “The only thing necessary for the triumph of evil is for good men to do nothing,” though it is appropos to the moment.
The actual quote can be traced back to the utilitarian philosopher John Stuart Mill, who delivered an 1867 inaugural address at the University of St. Andrews and stated: “Let not any one pacify his conscience by the delusion that he can do no harm if he takes no part, and forms no opinion. Bad men need nothing more to compass their ends, than that good men should look on and do nothing. He is not a good man who, without a protest, allows wrong to be committed in his name, and with the means which he helps to supply, because he will not trouble himself to use his mind on the subject.”
Not as good of a rallying cry but it should be noted that the Founding Fathers were big fans of Mill…
Against this exciting backdrop, the markets are back to testing their all-time highs – boosted this week by the excitement of a US/China trade deal and we sort of kind of have something after 2 days of negotiations in London. We’re back to the “framework” of a deal that we had a month ago but blew up and China seems to be releasing Rare Earth shipments to the US so our manufacturing doesn’t shut down – for now…
While clearly a positive outcome, the lack of reaction in S&P500 futures, and the incremental moves seen in CNH or AUD, suggests achieving the framework on the Geneva agreement was fully expected – the details matter, especially around the degree of rare earths bound for the US, and the subsequent freedom for US produced chips to head East, but for now as long as the headlines of talks between the two parties remain constructive, risk assets should remain supported.
As noted by Zeng Wenkai (HK Asset Manager): “The market likely anticipated this — Trump is just TACO (Trump always chickens out). Look at how countries are negotiating with the U.S. these days; it’s no longer like how Vietnam approached things early on. Japan and South Korea are taking a tougher stance. People have realized that kneeling gets you nowhere — in fact, it only invites more bullying.”
On the whole, this is simply a move to placate Trump while China waits to see if the US courts allow his tariffs to be implemented at all. And, even if they go through, there are International Trade Courts that may block Trump’s ability to impose tariffs but none of that really matters because all Trump wants to do is ram his “Big Beautiful Bill” down America’s throat as it includes $6Tn ($600Bn/year) of tariff revenue that offsets his tax cuts and, as long as that fairy tale remains “possible” – it gives the GOP cover to vote those tax cuts through and that’s a $1Tn ANNUAL gift to Trump and his buddies.
I asked Boaty to check on the BS claims made in the now MAGA-powered National Debt Clock:
🚢The $6 trillion tariff revenue figure cited by the National Debt Clock (specifically USDebtClock.org) is not credible and appears to be a political fabrication aligned with MAGA narratives. Here’s the breakdown:
1. Origins of the $6 Trillion Claim
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Source: The online “National Debt Clock” (USDebtClock.org) added a D.O.G.E. Clock in January 2025, which claims tariffs will raise “$6–7 trillion over 10 years” ($600B/year).
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Reality Check:
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Independent Analyses: The nonpartisan Congressional Budget Office (CBO) estimates Trump’s tariffs would generate $2.5–$3.8 trillion over 10 years, not $6 trillion (FactCheck.org).
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Peter Navarro’s Fantasy: Trump’s trade adviser claimed tariffs could raise “$600–700B annually,” but economists universally dismissed this as unrealistic (PolitiFact).
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2. When Did the National Debt Clock Become MAGA?
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Historical Context:
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The physical National Debt Clock in NYC, created by real estate developer Seymour Durst in 1989, was nonpartisan.
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USDebtClock.org, however, is an unrelated website registered in 2008. It gained MAGA affiliations in 2025 when it added the D.O.G.E. Clock (Department of Government Efficiency) to promote Trump’s tariff and tax policies.
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Partisan Shift:
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The site’s “$6T tariff revenue” metric appeared alongside pro-Trump messaging in 2025, coinciding with the “Big Beautiful Bill” push.
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The D.O.G.E. Clock’s “$1.2T saved from waste” has been reduced to $514B is unsourced and contradicts CBO reports (PGPF).
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3. Why the $6T Figure Is Nonsense
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Actual Tariff Revenue:
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In April 2025, tariffs generated $16.3B/month ($195B annualized), per the Treasury. Even with escalation, $600B/year is implausible (The Epoch Times).
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Tariffs historically account for <2% of federal revenue (~$80B/year pre-Trump).
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Economic Impact:
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Tariffs are taxes on consumers and businesses. The Tax Foundation estimates they reduce GDP growth and cost jobs long-term.
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4. The MAGA Playbook
The National Debt Clock’s “$6T” claim is part of a broader strategy to:
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Justify Tax Cuts: Pretend tariffs can offset $3.7T in tax cuts for corporations/wealthy.
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Distract from Deficits: The U.S. deficit hit $2T in 2024, with debt at $36T (CBS News).
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Gaslight Voters: Frame tariffs as “paid by China” when Americans foot the bill via higher prices.
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Bottom Line
USDebtClock.org is pushing MAGA propaganda, not fiscal reality. The $6T tariff figure is a fantasy designed to sell Trump’s agenda, not a credible budget projection. Trust nonpartisan sources like the CBO or Peterson Foundation instead.
Shows how hard it is to trust any information these days. Meanwhile, we’re about to get the May CPI reading and it has been coming down – so we’ll see if that trend continues but most of Trump’s tariffs are on hold – so this number is meaningless pending what happens at next month’s deadline but, clearly, the markets are betting on TACO:
8:30 Update: 0.1% for the headline and core readings so prices are still coming down. Year over year, however is 2.4% – up from 2.3% last month and ex-food and energy is up a too-hot 2.8% annually – that is not encouraging if you are looking for the Fed to ease up.
Still, the 0.1% number is all it takes to rocket the futures, with the Dow popping 400 points on the news so let’s get ready to get out there and enjoy our day because what could possibly go wrong, right?
And to the residents of Los Angeles and all the rest of the citizens who are bravely protesting the apprehension of their friends and neighbors – this one’s for you:
