Yesterday, they announced that the July job numbers failed to meet expectations, with 73,000 jobs created versus the estimate of 109,000. That's not great, but it's not fatal. What was far more damning was the revised job numbers for May and June.
Now, for the record, I had insisted that the job numbers for May and June were not right when they came out. There seemed to be genuine shock and awe that they had come in at 144,000 for May and 147,000 for June. Considering how many Federal Government firings were happening alone, those numbers seemed exceedingly pollyanna. I doubted the numbers were legit.
They weren't. The stunning revisions on the numbers, May down 125,000 to 19,000 total, and June down 133,000 to 14,000 total, point to Trump manipulating data to push a narrative, preventing the truth from coming out, that his economic plans are quickly souring the economy. His tariffs are weighing heavily on prices and hiring. These are the worst months for hiring since he was in office during the pandemic in 2020.
Trump did what all dictators do when faced with bad news: he fired the people who delivered the bad news. Claiming with ZERO evidence that Commissioner of Labor Statistics Erika McEntarfer had falsified the job numbers to make him look bad, Trump fired her and said he wanted a new commissioner who would tell him the economic news he wanted to hear.
It's pretty clear to me that somehow McEntarfer had posted the correct jobs data, CORRECTING THE FAKE JOBS DATA THE TRUMP ADMINISTRATION HAD MANIPULATED TO MAKE HIM SEEM COMPETENT. The fake numbers were the original numbers, and Trump is really angry about the truth coming out.
But it also means no sane person would trust the job numbers that come out of this Administration from this point forward. TRUMP HAS DEMANDED THE NUMBERS BE DOCTORED! Already, many economic experts have stated that August jobs numbers will probably be worse than July's. This means it will be easy to see the lies being presented as facts.
It also should be noted that a country falsifying jobs data to push a narrative not only creates a recession/depression free fall when the eventual truth comes out, but it also is a prime factor in what is called hyperinflation, when consumer prices skyrocket overnight, pricing the consumer out, devaluing the currency, and stifling spending.
Fall is going to be an economic nightmare for this country.
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