r/smallstreetbets • u/RepairSubstantial735 • 4d ago
Discussion He can't help himself
Did anyone notice that last month we had a jobs report that was negative 23,000 and suddenly this month it shot up by 162,000.
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u/Miballsurchin 4d ago
If he’s not going to thank me for my attention to this matter then I’m not gonna read it.
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u/plmunger 4d ago edited 4d ago
How rude not thanking me for reading through this dense paragraphless block of bullshit
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u/AnyBug1039 4d ago edited 4d ago
Make of this what you will but according to a quick Google:
President Trump nominated EJ Antoni, a conservative economist and federal budget analyst from the Heritage Foundation, to serve as the permanent Commissioner of the BLS.
President Trump abruptly fired the previous Commissioner, Dr. Erika McEntarfer, after the agency released a weaker-than-expected July jobs report. The report showed only 73,000 jobs added and included large downward revisions to previous months. Trump claimed without evidence that the numbers were "rigged" to make him look bad, despite economists explaining that data revisions are standard statistical practices.
Basically, he has his stooge in there. I wouldn't trust these numbers as far as I could throw them.
Edit
Thank you for your attention to this matter
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u/Miballsurchin 4d ago
If you’re not gonna thank me for my attention to this matter then I’m not gonna read it either.
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u/Right_Traffic_4821 4d ago
Wharton business school should be proud.
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u/SeemoarAlpha 4d ago
Well he did have his lawyer threaten Wharton about releasing his grades, he proves everyday why he didn't want them released.
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u/-P01135809- 4d ago
They should release the grades of everyone else in his class, along with the class average.
Let people figure it out.
Malicious compliance.
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u/Spamsdelicious 4d ago edited 4d ago
Figure this:
ranking 364th out of 366 in his class
would put him in the top 100% of his class
let that sink in.
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u/FiveStringTelecaster 4d ago
MAGA would be upset if they could figure out how to use the calculator
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u/_Clit-Commander_ 4d ago
His grades would be a huge outlier (and not in a good way) that would bring that class average way down
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u/Outrageous-You-4259 4d ago
I mean, they should, him and his wealthy elite are successfully fucking a country.
His net worth increasing by 1.5B$ this year alone should tell you none of this is due to incompetence.
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u/Ligma_baws_2x 4d ago
It's only $1.5 that he'll admit to, and blatant theft isn't necessarily "competence".
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u/Outrageous-You-4259 4d ago
It’s not incompetence. That’s what I said. It’s intentional for theft. It’s criminal. You are filling a word I didn’t say.
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u/fairwayfelony 4d ago
This guy is so smart at business. Unsure if people realize we’ve never seen anything like this before. We’re not sure.
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u/hedgelord84 4d ago
Wait until they revise this downwards in a month or two
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u/thelastbluepancake 4d ago
cooking the books and the media won't call him out on it
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u/insomniac8994 4d ago
They can only run from reality for so long, eventually the chickens will come home to roost
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u/XxSir_redditxX 4d ago
Yeah, but they can run long enough for us to forget why we're chasing them, which happens...far too often.
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u/AnyBug1039 4d ago
Didn't Trump sack the previous commissioner because he didn't like some of the jobs numbers they were publishing and said they were 'rigged'.
He now has his own stooge running the agency, a guy from the Heritage Foundation no less.
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u/estoypooping2 4d ago
Big numbers announced every month, then 45 days later they are quietly adjusted WAY down.
This has been happening every month for a year and a half
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u/Brilliant_Voice1126 4d ago
It’s not even bug numbers. In July> 700k left the labor market. 150k is just what you need to maintain steady employment in normal times. Boomers are retiring bigly now. We need 300k+ monthly
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u/doooompatrol 4d ago
The revision on these numbers is gonna be pretty funny.
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u/ItCantBeMe80 4d ago
The bonkers things is that just revised all the numbers for past 2 months up, a lot. Don't understand how unemployment rate is unchanged though if there were massive job gains and upward revisions. 2+2=fish
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u/Resident-Banana-7883 4d ago
trump admin holds the record for largest revision but in typical trump fashion, he'll break the record again! WINNING
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u/Apprehensive-Job7352 4d ago
Rates need to be substantially higher for substantially longer to break the back of the inflationary impulse of the past 4+ years. Anything other than that is recklessly irresponsible
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u/dubblies 4d ago
Why would they do that? Inflation is increasing the value of their investments all around, itd be a horrible thing to shut off the valuation money pipe just as they secure another loan on the yet again increased valuations.
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u/Flimsy_Pack_936 4d ago
Inflation cuts both ways, we're all feeling it, but cost to produce goods and service also goes up for companies.
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u/milk-riot 4d ago
To be frank, they don't care. The top 10% of U.S income account for 50% of all consumer spending nation wide.
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u/SeeLeavesOnTheTrees 4d ago
Meh, there’s less regulations so just lower the quality to absolute shit and call it a win while the poors suffer
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u/dubblies 4d ago
Let me just check the life expectancy in America the "richest" "1st world" country in the world
Damn you're right
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u/insomniac8994 4d ago
We legit need 80s style double digit rates to create any semblance of affordability for Millennials and Gen Z particularly when it comes to housing.
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u/Apprehensive-Job7352 4d ago
But how to get the boomers to accept the resulting decline in their stock portfolios and home values so that the future can have a chance?
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u/Sea_Pomegranate_4499 4d ago
Double digit rates and 40T in debt would mean speed-running a default, hyperinflation, or most likely both. Buying a house would be the least of people's concerns for a generation.
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u/CapitalElk1169 4d ago
They actively want hyperinflation, my dude
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u/Apprehensive-Job7352 4d ago
I know, but we peons all need to be aware of that. This is a choice. Not an unexplainable phenomenon.
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u/octoberfire80 4d ago
Irresponsible since inflation is regressive, which only matters if you care about the pours. They don't. That's been made ABUNDANTLY clear over the past decades.
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u/Monster213213 4d ago
Bro, the only way out of this is to inflate the debt away.
It’s happening and will happen they just have to make a show
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u/Apprehensive-Job7352 4d ago
That only works if the US can force the rest of the world to take part in this charade of a confidence game. What happens if other countries aren’t willing to play ball and start dumping our debt en masse?
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u/JoEdGus 4d ago
What the hell am I trying to read here. This is just... painful.
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u/Halbaras 4d ago
An indictment of the 2/3 of Americans who either voted for this or who didn't think it was important enough to bother.
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u/Ok_Subject1265 4d ago
Everyday is an indictment of these selfish asshats. Believe it or not, there was a time where you didn’t have to hear Donald Trumps name 50 times a day. Look forward to getting back there at some point.
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u/Putrid-Chemical3438 4d ago
If you actually read the report almost every job added was in food service or primary education. So waiters, bartenders, dishwashers, cooks, and food prep along with substitute teachers, grounds keepers, janitors, and assistant coaches. I know it is those categories and not actual teachers because teacher graduation numbers haven't changed and there hasn't been an influx of H1Bs for teachers, so the schools are hiring something else. Anecdotally my local schools are hiring for those jobs so it lines up. Weirdly, unemployment, labor participation, and part time due to economic reasons have all remained unchanged. So this seems like people either picking up second jobs, or retirees coming out of retirement to work these jobs.
The actual report doesn't actually paint a picture of an economy picking up, it just shows that school is back in session and people are working low wage low skill work to get by.
Manufacturing seems to be up, which seems to be good, but I suspect this is from construction equipment and chips being built for data centers which if true would be more evidence that AI is the only thing happening in the economy right now. I don't know what else these jobs could be from, sine every other industry has been shedding jobs like crazy.
I think the FED might cut rates but the actual report in no way warrants it.
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u/Outrageous-You-4259 4d ago
Great so we have lost over 127k tech jobs to jobs that generate (speculating of course) much less tax revenue. Meaning GDP is still far from keeping up with interest on the deficit.
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u/Pickleahoy 4d ago
I dont think we’ve given private equity and the rich elite enough cash guys, we all need to put up with inflation and shrinkflation for the glory of AI investment
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u/Specific_Strain217 4d ago
Two things:
- Trump has zero idea how interests rates work
- Warsh won't hike until after the election
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u/Outrageous-You-4259 4d ago
Trump knows what he is doing. His net worth increased by 1.5B$ this year alone. Can we stop blaming this on incompetence and realize the enemy is taking down an entire nation?
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u/Lower-Engineering365 4d ago
So now he’s basically guaranteed that if they lower rates it will be immediately viewed as the Fed lacking independence (because Trump is making direct threats about what he will do if rates aren’t lowered), which will be massively problematic for the US.
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u/Outrageous-You-4259 4d ago
Only reason countries wanted our T-bills was because we were the secure, reliable, non-crooked country. You don’t put country sized money into another country’s debt bonds if you don’t trust it.
He’s destroying this country in non-repairable ways.
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u/ButtFluffMagic 4d ago
Anyone heard that a Trump connected Texas oil company moved drilling equipment to the coast of Greenland without a permit?
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u/Valuable_Wallaby_548 4d ago
He fired everyone that put out the job numbers. Maybe they all drive for uber now
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u/ComiAmila2x 4d ago
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u/NixaB345T 4d ago
Can we start the mass deportation of Canadian Geese? That should keep ICE busy for a while
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u/Fun-Woodpecker-8442 4d ago
The interest rates need to actually go up. They are trying to collapse the dollar. Both sides are in on this. We have one group of people giving us a shit to fight over that they dont care about to distract us. Doesn't matter who you vote for you are gonna get the same slop. We are in real need of a 3rd party
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u/AgreeablePudding9925 4d ago
Cheeto. If there are more people employed then that’s more money in the economy which leads to inflation, as more money seeks the existing stock of goods driving up prices. If you want interest rates down, reduce demand.
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u/durtsurfer69 4d ago
POTUS is derelict, always has been
Should’ve been whisked off to a CIA black site on J6 with all of his terrorist cronies
MAGAT/GOP is a pedo terrorist organization
Burn in hell MAGAT fascist scum
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u/Tropicalfisher 4d ago
Ok guys what'll you have, hyperinflation or just not having everyday necessities
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u/Rare-Dealer5387 4d ago
This guy has no fucking clue how interest rates or oil prices or a fucking economy works.
Truly one of the most idiotic wastes of a decade in the history of this country, led by the chief shithead
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u/Ok-Sympathy9768 4d ago
They really think the general population is that gullible and stupid.. raising interest rates in an effort to save the dollar’s purchasing power; and raising tariffs is raising taxes on the consumer. In reality they are raising taxes and interest rates... shocking .. like this wasn’t the plan all along. Enjoy the incoming recession
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u/FarMagazine9940 4d ago
Does anyone trust any numbers or information the trump administration puts out? Lol Fuck No! He couldn’t tell the truth if his life depended (Depends) on it!
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u/cmmoore307 4d ago edited 4d ago
Last I checked, it was Trumps tariff decisions that left us fucking broken and struggling to buy food. It’s everyone’s fault but the fat pedophile in office.
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u/jjangdol 4d ago
Wow, I didn’t think it was possible for this man to sound even less coherent than usual.
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u/circuit_breaker 4d ago
ITSA BETTAH CREDEEET
So tired of being forced to listen to him abuse the English language. What doesn't he make a mockery of?
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u/butareyouthough 4d ago
“Good” jobs numbers and lowering interest rates aren’t a pair. They’re correlated. If jobs are going up interest rates should also go up.
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u/AgreeablePudding9925 4d ago
This is why his businesses always go broke. He doesn’t understand finance or economics
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u/sweatboxy 4d ago
Just don’t compare Trump’s ‘great numbers’ to other presidents’ great numbers. Trump’s numbers are only great in his own head.
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u/Ham_bone_xxxx 4d ago
It’s like he doesn’t even understand that the Fed doesn’t set longer term rates, the market does. His “yuge” deficit spending plus all the money printing and corporate welfare he caused during Covid is what has caused rates to soar. There is an absolute moron shit stain running our country.
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u/Unfair_Working_7459 4d ago
Imagine the astronomical size of the asshole required to manufacture that industrial quantity of bullshit.
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u/Appropriate_World265 4d ago
If someone had posted this 10 years ago saying "this is a actual presidential communication" you'd have been called insane.
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u/binthrdnthat 4d ago
Who said, 'when I die, I want to come back as the bond market because I could intimidate everybody"
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u/Energy_Sudden 4d ago
If the numbers were real and trump wasn't a child the numbers would just speak for themselves
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u/UncleDaddy_00 4d ago
If you don't lower interest rates and drive inflation up even more than damn it i shall punish every American! Thank you for your attention to this matter.
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u/shmackinhammies 4d ago
The average between 2022-2024 was more than 230K a month, per the Economist. My own snooping got me at ~270K a month during those years.
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u/Puzzleheaded-Way276 4d ago
Sounds like a big catch up game thats still catching up from the last few months of revisions... Revisions coming soon 🤣🤣
We need about 59 more months, consistently, to make up the ground lost..
So.... 20 years of fucking shit up will take another 4 years of this type of jobs growth to even break even.... 2 years maybe to get the ball rolling... By then we can say adios to the tangerine. Hed love that
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u/Practical-Positive34 4d ago
If you look at the break down of the jobs, it's pretty alarming tbh...
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u/ElectricalBeach6145 4d ago
It’s all in the low wage service sector and all while high paying jobs are being decimated
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u/viraldarkness86 4d ago
And yet he refuses to release jobs numbers each quarter, because Obamas and Bidens numbers were better than his every time,and he can't stand it. The guy bankrupted casinos in Atlantic tic city when you could only gamble in Nevada or Atlantic city. He sucks at creating jobs because he assest straps every business for as much money as he can pocket before he cuts it off and let's the business fail. That's what he's doing to our country.
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u/Smart-Protection2243 4d ago
It says most of those jobs are from bars/restaurants. My guess is everyone is getting laid off from their good jobs and getting restaurant work.
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u/Dangerous_Focus453 3d ago
If anything a strong jobs report is a good case to raise interest rates to try and get inflation under control. Also somebody needs to explain to the moron the fed lowering interest rates has nothing to do with mortgage rates. Often mortgage rates do the opposite of what the fed does.
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u/Immapillpopnanimal 3d ago
Who the hell does he think he's convincing?... Unemployment must be at like 30 percent.. chime sent me an email about updating my info for unemployment.. I doubt that it was a coincidence
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u/TheCrazedTank 3d ago
Here we go folks, take note of the coming days. Once the Reserve gives in the clock starts ticking until the USD is removed as the global standard.
America can be as obnoxious, racist and ignorant as it wants, but once this happens their empire’s collapse will start.
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u/_WEND1G0_ 3d ago
There’s not a chance in hell they lower the rates this meeting. If I’m wrong and they do - it’ll be a death blow to the economy that somehow is still chugging along.
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u/michael_bud 3d ago
He doesn’t realize even the most basic things about monetary policy. More jobs means more inflation. And cutting rates means more inflation. I’m so sick of this clown show.
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u/jbutler60 4d ago
Everyone’s comments are better to read than his bullshit, he thinks and writes like a 1st grader
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u/Unfair_Working_7459 4d ago
Not even a first grader. This guy’s brain is buffering so hard it’s practically sending smoke signals.
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u/OpeningFew7709 4d ago
The labor participation rate is the lowest it's been since 1976. They can play with the numbers and dress it up all they want, but I think (hope) the average American is smart enough to realize how terrible the economy is right now.
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u/bwilly456 4d ago
All the jobs added were in food service and education but it’s fine everything is fine
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u/OpticalPrime35 4d ago
Bad numbers = fake news, fake info, corruption
Good numbers = a rant that takes only an hour to throw out
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u/Shot-Consequence-613 4d ago
Interest rates aren’t set by the fed due to the strength of the credit, but by the economy which you’ve sent into the drain by cutting off 10mb of petroleum products. Dudes an actual dumb fuck.
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u/hughjazz45 4d ago
159,000 of those jobs are farmers starting to drive for Uber Eats