Transcript
Ben Meiselas (0:00)
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Ben Meiselas (0:56)
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.
