today’s jobs report packed a one-two punch...and that's not all...
A couple highlights...
The numbers showed that employers added only 73,000 jobs in July, way below the 115,000 economists had predicted. The numbers also showed that the jobs reports for May and June had significantly overestimated the new jobs added in those months. The department revised May’s original estimate of 144,000 down to 19,000, and June’s original estimate of 147,000 down to just 14,000. As Julien Berman of the Washington Post noted, that’s a decrease of almost 90%.
The jobs report, firing of the commissioner of labor statistics, and tariff announcement all worked together to drive the stock market downward. The Dow Jones Industrial Average fell 1.23%, the S&P 500 fell 1.60% and the Nasdaq Composite fell 2.24%.
Trump “has initiated a new era in which the chief executive can use threats regarding the most powerful weapons on Earth to salve his ego and improve his political fortunes.”
Trump’s wild stories, inability to understand numbers, and inability to place events correctly into a timeline are key signs of dementia. Truax published an article in The Hill today, titled: “Trump’s mental decline is undeniable—so what now?”
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