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- [00:00]
Ben Meiselas
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- [00:27]
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- [00:56]
Ben Meiselas
Just awful news for Donald Trump and also what Trump has inflicted on the country. On this Friday, a horrible jobs report, well below expectations. But it gets worse. Only 73,000 jobs were created in July. And those jobs come from health care and social assistance and all other areas really, like manufacturing jobs were not gained. I think 26,000 or so manufacturing jobs were lost and healthcare and social, social assistance are the exact jobs also that the disastrous budget bill is set to kill. But what makes this jobs report devastating and even worse? And as I predicted here on the Midas Touch network, you know, those May and June job numbers, well, those were all fake fugazi, I like to say fraudulent. Remember the June report that Donald Trump said 147,000 jobs were created? And remember I said no way that could have happened because the ADP private payroll was down 33,000. And I just said Trump just picked the number 47 because he's the 47th president. Well, when we follow the data, it turns out we were right. There was a downward revision of May and June of 258,000 jobs. That's the biggest downward revision. That means the government basically lied to us by 258,000 jobs. Remember how they were saying, wow, the tariffs are and impacting the jobs in May and June, look, it's all doing great. And I was saying, well, that's not what the underlying data is showing. Sure, that's what's being reported by the Trump regime, but look at the industry sectors. It Makes no sense. Well, we were right at the Midas Touch network. And unfortunately, we were right because. Because this is a bad indicator that actually 258,000 jobs are now being removed. So in May, only 19,000 jobs were created, not 144,000 jobs. And in June, it wasn't 147,000 jobs that were created. Only 14,000 jobs were created. So to be clear, even though it's now being reported for July that the initial estimate is 73,000 jobs were created, if you just take a look at what was reduced, you know, 144,000 jobs, you know, 130,000 jobs being reduced. That, that and another huge amount of jobs being removed the other month. I think that there was probably a job loss this month. When we see the revisions for July now the stock market is responding as you would expect it would. You know, finally, they're like, oh, my gosh, we're shocked. Where do these numbers come from? And I've been saying, one day we're gonna wake up and everyone's gonna say, oh, we're shocked. And I'm gonna say, I'm not shocked. The Midas Touch viewers aren't shocked to. Because we've been saying this and I've been screaming this just like for the past five years, I've been screaming about the Epstein files. I've been screaming about what the real economic data is here. The Dow is down over 400 points, close to 1%. Nasdaq is almost down 2%. The S&P is down more than 1%. Fox has stopped showing the stock ticker at this point, although they were showing it earlier. Maybe they'll bring it back. Who knows? Because they lie to their audience. And wasn't it just, just yesterday where Howard Nutlik, Donald Trump and Howard Lutnick, Donald Trump's commerce secretary, said all the experts are wrong. The tariffs are working. I said, I don't know what the hell you are talking about. When I go into stores, things are significantly higher and inflation is rising and tariffs are hurting the United States of America. But Howard Lutnick said the experts all got it wrong. Let me just show you again the minute here where Fox was able to say where Fox calls the what the job report is here. Let's just play that clip for a second. Let's play it.
- [05:02]
Steve Moore
The Nasdaq down about 200, going 73,000 jobs. 73,000 jobs created in the month of July. Number just coming out. And that's total 4.2% of the unemployment rate, right in line with expectations. Here are the numbers for the month of July. Jobs came in at 73,000. That was lower than the expectation which called for 110,000 jobs. The unemployment rate right in step with expectations at 4.2%. Steve Moore, your reaction.
- [05:36]
Ben Meiselas
Look, I think this is all a result. This disappointing number is a result of all the turmoil over tariffs and trade wars. Now also the unemployment number ticked up to 4.2%. But that doesn't really make a lot of sense either. And one of the other Fox hosts said, I'm not really sure 4.2% you would expect based on the downward revisions of the past month and where we are this month, that unemployment probably seems to be higher than 4.2%. We're gonna have to relook at that number because the Trump regime is all, it's a Ponzi scheme, they're feeding us fraud. But here's when Fox even is like, huh, Here, play this clip.
- [06:17]
Maria Bartiromo
Today's report is really going to shed more light that this was a very weak report. The revisions certainly to May and June are very concern. Surprised. Unemployment is just at 4.2%. I know that, you know, they're looking at that number but they need to look at the whole picture. We do see a softening market. Now. There are jobs out there. I know you did ask me about that. There's still opportunities like some of the hottest jobs, nurse practitioners, physician assistants, data scientists, analyst roles. But these are really skilled, high level positions. These are the top occupations that are growing and we need to get more people into these fields. They pay six figures, but a lot of those entry level positions, Maria, are going away. So I am concerned about the labor market, that we need to get more people in trades and in skilled roles because that's where the jobs are for sure.
- [07:20]
Steve Moore
And I think you know, to discuss the health care. The marriage of health care and technology is huge and that is creating lots of jobs.
- [07:28]
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- [08:28]
Ben Meiselas
But what's the White House focused on? Well, of course, a new 90,000 square foot, $200 million gold plated ballroom. Right? Let them eat cake. Let them eat cake. We're going to build a ballroom, a lavish ballroom while cutting your health care and while you lose your jobs. And remember yesterday we reported that the jobless job cuts were basically up 75% from where they were this time last year. So there was that data point as well. So of course Donald Trump is going to blame Chairman of the Federal Reserve Jerome Powell. Too little too late, Jerome. Too late. Powell is a disaster. Drop the rate. The good news is that tariffs are bringing billions of dollars into the United States. And then Donald Trump also posted that the Federal Reserve Board, you know what you gotta do like remove the guy step take. Then Donald Trump posted the following as well. This is what he posted though about. This is how I think he claims he was going to solve the Ukraine war, the Russia's unlawful invasion of Ukraine. Donald Trump posted this morning. I've just been informed that almost 20,000 Russia Russian soldiers died this month in the ridiculous war with Ukraine. Russia has lost 112,000 soldiers since the beginning of the year. That is a lot of unnecessary death and he puts that in caps. Ukraine, however, has also suffered greatly. They have lost approximately 8,000 soldiers since January 1, 2025 and that number does not include their missing. Ukraine has also lost civilians, but in smaller numbers as Russian rockets crash into Kiev and other Ukrainian locales. This is a war that should have never have happened. This is Biden's war, not Trump's. I'm just here to see if I can stop it. I'm just here to see what I can do. You promised you would end the war on day one and all you do is blame Biden. You blame Obama. Here was Donald Trump's other post in the tent in the last 10 hours and I'm even going to show them all to you. 15 posts about Obama got after me. Obama was mean to me. Obama did something about Russia. Obama Russia, Russia, Russia. Hillary Clinton, Hillary Clinton 2016 dude, it's 2025. Our economy is suffering. People are losing their jobs, people can't afford homes and you're out there talking about fricking ballrooms and talking about 2016 Obama while covering up the Epstein files. Oh, and the COVID up of the Epstein files, folks, is getting even worse. One of the things we learned today, you know how Donald Trump put a team of 1000 FBI and DOJ staff so lawyers and FBI agents to go through the Epstein files for the sole purpose, not of releasing them, but to find how many times Donald Trump's name are in the files and to redact and remove it, to hide it from we the people. Well, we've now learned, a Bloomberg exclusive, that the FBI redacted all of Donald Trump's names to try to destroy all of the evidence regarding Donald Trump. Now, there was a whistleblower, Michael Sidell, who works in the records department, who spoke up and said, don't do that. We shouldn't be doing that. He was the guy who was leading the records department. There's no reason to redact Trump's name. You know what they did? They said, you have to resign or we're firing you. And Seidel resigned because he said that. Don't cover up Donald Trump's name. And they pushed him out. A new exclusive from Bloomberg on that this morning. And finally, Ghislaine Maxwell. Ghislaine Maxwell, convicted sex trafficker who Donald Trump has given immunity to. She has been moved from her Tallahassee prison where she was sentenced and she was serving her sentence now to a prison in Texas. The New York sun got the exclusive report there and she was in Tallahassee, and now she's moved to federal prison Camp Brian, in Southeast Texas, surely, because she probably thinks that, you know, in Texas, maybe she gets better conditions, I'm not sure. But she's working with the Trump regime. She's positioning for a pardon. They moved her, probably at her request, to the facility that she wanted to be at as she cozies up to the Trump regime as part of Donald Trump's plan to cover up his dark and sick and sadistic past. It is absolutely ridiculous. And finally, Labor Secretary Laurie Chavez Durimer, by the way, who was supported by the Teamsters head, Sean o', Brien, who in my opinion has completely sold out the Teamsters. Remember, he said, oh, Trump's gonna be great for labor. Trump's the best for labor. Remember Sean o' Brien in Mar a Lago? He was Laura Darimer, Laura Chavez, Darima. She's great. She's great, dude. She's against the PACT Act. She's literally against, like, the key Protections for unions. What the hell are you talking about? This MAGA union leader, it's ridiculous. Anyway, she goes, well, you know, the numbers of course could be better, but at the end of the day, Donald Trump is putting America first. So yeah, sure the numbers can be better, but this is what America first looks like. Here, play this clip.
- [13:33]
Labor Secretary Laurie Chavez-Durimer
The President has done a wonderful job in these trade deals. We're seeing more and more countries come to the table and this is another leg of the stool that can be assisting the American worker in the American business and he's choosing not to do so. We need those interest rates down so that our businesses can borrow more money at a cheaper rate and invest in their companies, invest in the American economy and grow this economy even better. We've seen positive job growth. We have seen consumer confidence go up. We've seen unemployment hold steady. While we could have seen better jobs numbers, right now we're seeing American workers are being put first. Native born workers account for all of the job growth and that's key. And the President is going to lean in and all of his secretaries are going to lean in. And I can tell you this, what I'm hearing on the ground is positive. People are excited about what's happening on the ground. We're setting the table for a positive economy and the American worker is going to win in this occasion because the President has their back.
- [14:28]
Ben Meiselas
One quick point. Utterly, utterly pathetic. Well, there you have it folks. Let me know what you think. Hit subscribe let's get to 6 million subscribers. Thanks for watching.
- [14:36]
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- [14:53]
Ben Meiselas
This is one of the most spectacular venues with all kinds of character and hospitality scenery. These people in this Kittas Valley, they love when you come to see what they have to offer. I'm JJ Harrison, Ellensburg Rodeo Clown and I want to invite you to the rodeo. Come hang out with us in Ellensburg. Great rodeo, great time. Two performances on Saturday. One is the Extreme Bulls of the Year event. Do not miss the Ellensburg Rodeo August 29th through September 1st. We'll see you there.