Donald Trump may accomplish one big thing as president, in his second term. He may speed up the judicial process to the point where its decisions are still actually relevant when they are handed down.

I say this after the legal whiplash of the last 24 hours or so, as first two federal courts ruled (independently of each other) that Trump's worldwide tariffs were illegal, and then today an appellate court temporarily halted the injunction (which would have erased all the tariffs Trump announced on "Liberation Day"). So we're now (temporarily, at least) back to where we were before yesterday's rulings, as the appellate court has asked both the plaintiffs and the Trump administration to file their responses in the next two weeks. They could issue a final ruling on the appeal at any time after that. Obviously, no matter which way the appellate court rules, this case seems destined for the Supreme Court in the end, but nobody knows how fast they'll rule on it (if they followed their normal schedule, it'd take at least six months or so for a final ruling, but they may well expedite the case).

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There are two basic ways to successfully deal with a bully: you can stand up to him, or you can laugh at him. Wall Street is apparently now taking the second route, as traders openly ridicule Donald Trump.

There's a new acronym making the rounds on Wall Street: "TACO," or (more specifically) the "TACO trade." It stands for "Trump Always Chickens Out," and it refers to the resilience of the markets after a cycle which is becoming more frequent in Trump's tariff war. The cycle starts when Trump, in a fit of pique, announces insanely-high tariffs will be levied. The market then tanks. Trump then backs off and announces he will be "pausing" the tariffs, or severely rolling them back. The market then gains back what it had lost.

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Once again, the Republican Party has laid out its real agenda, in the form of a federal budget. And once again, they have proven what their real priorities are: cutting taxes on the wealthiest Americans no matter what -- no matter who has to pay for it, or how.

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It is rare enough, these days, to find a story that everyone should be able to agree with and support, especially when it comes to federal court decisions and constitutional law. But today we actually have one, so we're going to ignore the frenzy of wheeling and dealing currently happening within the Republican Party over their Medicaid-gutting new budget bill and instead focus on a story it's almost impossible not to smile about.

The facts of the case come from a small town, where for some reason the town's "municipal code enforcement officer" decided to become an art critic, as it were. The town -- Conway, New Hampshire -- which assumably is run by either petty tyrants or just garden-variety curmudgeons, demanded a local business remove a bright and cheerful mural that had just been painted by local high school students. The business fought back, and a judge just agreed with the owner and told the town to knock it off and chill out (I am paraphrasing the legal language used, I admit...).

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Donald Trump seems to now be in full retreat on his trade war. Which is good news, since American consumers are the ones who would have paid the price for it all. The strategy for other countries to follow is becoming clear now -- just wait Trump out, and eventually he will cave on his own, due to political and economic pressures increasing on him over time.

This strategy worked wonders for China, as last weekend Trump dropped his tariff levels against the country by a whopping 115 percentage points. This was precisely what China had been demanding he do before any trade negotiations could even begin. All they had to do was wait.

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I've written about this subject before, where I used the phrase: "Be careful what you wish for" in the opening paragraph, so I thought I'd just use it as today's headline. Previously, I had written about an effort in the Senate to introduce a bill that would remove the ability of federal judges below the level of the Supreme Court to issue nationwide (or "universal") injunctions which banned government behavior while a case was being litigated. Here's how Republican Senator Josh Hawley explained the need for the bill he intended to introduce:

What needs to happen is one of two things: Either the Supreme Court needs to intervene and make clear there's only one court that can issue rules for the whole country, that's the Supreme Court, that's why we only have one of them. [O]r, if they won't do that, Congress needs to legislate and make clear that district courts do not have the ability to issue these kinds of injunctions.

Today, the issue was indeed argued before the Supreme Court. And the conservatives on the court seemed open to perhaps limiting or removing the ability of lower-court judges to issue such universal injunctions. To which I again say: Be careful what you wish for.

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There are plenty of things wrong with the proffered gift (to Donald Trump from the rulers of Qatar) of a luxury 747 airplane to serve as a sort of interim Air Force One. For starters, Qatar has "historically been a funder of terrorism at a very high level." For another, it's one of many Middle Eastern countries "that horribly abuse women and L.G.B.T. citizens" -- a country that "oppress[es] women, gays and people of different faiths." You could get even more specific: "You talk about women and women's rights? So these are people that push gays off buildings. These are people that kill women and treat women horribly. And yet you take their money." These complaints merely scratch the surface of the wrongness of accepting this plane, but they are relevant because they are all quotes from Donald Trump himself, castigating Hillary Clinton for accepting contributions to the Clinton Foundation from Qatar and other Middle Eastern countries.

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If you'll check a historic calendar (which is easy enough to do), you will clearly see that there are three possible days which could validly be celebrated as marking the end of World War II. They are: August 14th, August 15th, or September 2nd. The initial announcement of the surrender of Japan was made on August 14th, in Japan. Due to the nature of time zones, this happened when it was August 15th in America already. Then the formal surrender, which happened on the deck of the battleship U.S.S. Missouri, was signed on September 2nd. The president at the time, Harry Truman, announced the United States would celebrate what was known as "V-J Day" (for "Victory over Japan Day") on September 2nd. So that would be the most likely day you'd expect any subsequent American president to announce as a new semi-holiday, since it was when World War II actually officially ended. But you'd be wrong.

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A legal fight in North Carolina over the 2024 election held for a seat on the state's supreme court is now officially over. After a recent ruling from a federal judge which would have shut down the effort to overturn an election (which was verified by two separate recounts), the Republican who tried to do so is now waving the white flag of surrender, saying: "I will not appeal the court's decision." This brings to an end a very dangerous legal fight that could have had implications for democracy not only in North Carolina but (had it been appealed all the way up to the U.S. Supreme Court) elsewhere in America as well. In the end, a federal judge (appointed by Donald Trump, no less) upheld democracy in the face of a Republican attack on how elections are determined.

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There was some good news today for all Americans who cherish the United States Constitution. Interim U.S. Attorney for D.C. Ed Martin's nomination to be permanently confirmed for the job is in trouble. Senator Thom Tillis -- a Republican who will be facing a tough re-election fight next year in North Carolina -- has announced he will not support Martin's nomination in the Judiciary Committee. So Martin's confirmation won't even make it out of the Senate committee responsible for vetting candidates. Since no Democrat is going to vote for him, it leaves Martin with only 11 votes for and 11 against -- which is not enough to make it out of the committee.

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