Trump Gets Decimated in Public in Report He Feared the Most

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2:34Let me not bury the lead. They're doing great. They've increased their net worth by$6.5 billion since he's been in office in January.

2:47Michael Popok:I'll take time out of this hot take and let you check your bank accounts and your other look under your mattress. And you tell me if you've increased your net worth by$6.5 billion. All the new economic numbers are coming out in September. They're all coming out to play. They're all negative against the Trump economy and his various policies. I'm Michael Popak putting on my Wall Street hat here on the Midas Touch Network. Let's talk about what's happening this week. Donald Trump may have fired the Bureau of Labor Statistics Commissioner, but he didn't fire the 2 ,000 people that work there, and they're busy getting out the new data for the prior month for August.

3:29Michael Popok:Let's start with the job numbers. Now, we don't have the job report, but we have been jolted by the JOLTS report, comes out from the Bureau of Labor Statistics. It's known as the Job Opening and Labor Turnover Survey. What it basically means is, at least for right now, in the first time in four years, there are less jobs available than people seeking them. There are, according to the survey, and it's done by survey, 7.18 million jobs are open, but there's 7.2 million people that are looking for jobs. It's the first time in four years. It's what we call the quiet cracking of the economy. These are the bellwether events that signal that things are going poorly.

4:16Michael Popok:Now, the jobs numbers will come out later this week, but if the jolts numbers are this bad, Get ready for a very low, if not minimal, increase in the amount of jobs for last month, maybe in the 60 or 70 ,000 range, which is basically anemic given the size of our economy and the size of our population. So we've got less jobs available than people seeking them, which contributes, of course, to unemployment. You can't get it. You can't make a job as an employee. you got to have a job available for you. So that's the first bad data. The next bad data is what tariffs are doing, even though they've been overturned for now, they're still being collected.

5:01Michael Popok:What tariffs are doing to the manufacturing sector in this economy, right? There's two major components of our gross domestic product. There's goods and there's services. Goods, manufacturing. You got to make the goods. Services are things that aren't tangible, but that you provide a service, computer services, consulting services, lawyer services, accounting services, that kind of thing. That's a service. If it's something you're buying that's tangible, then that's the goods. The manufacturing sector has contracted for six months in a row. The manufacturing sector has contracted for six months in a row.

5:46Michael Popok:The Purchasing Managers Index, which is a measure of what they're buying in order to manufacture, is down again at a declining index number showing no growth. Actually, it's moving in the retrograde or backwards direction. And this is all part of Donald Trump's fault of his policies. The tariffs are weighing down domestic manufacturing, the instability and the loss of skilled workers, because we're not bringing in skilled workers from other countries anymore. I don't know if you've heard, we're anti-immigrant in this country now under Donald Trump. So the people who are skilled laborers and professionals that would have came here on an H-1B or other type of visa, they're not coming here anymore.

6:36Michael Popok:In fact, many, many people are not coming here anymore. We have right now, in addition to the manufacturing sector dropping because of the inability to plan, even though the tariffs, as I've said, have been struck down by a court, they're still being collected and they're having that negative impact. Jobs down, manufacturing down. These are all if you're wondering what a failed economic policy set of policies looks like. This is it. You're watching it. I mean, don't be distracted by all the things that Donald Trump does. Oh, I bombed a boat with 11 narco terrorists on it today. Oh, I I'm you know, I'm in favor of getting rid of vaccines for children.

7:20Michael Popok:Forget all of that. Just look at the independent data and metrics that measure his economy and how it's not helping Americans. You know, sometimes when I'm listening to the news cycle spin out of control, I look over at my cat and I think, yep, the news and my cat have a lot in common. Both are unpredictable, loud at inconvenient times and demand my attention when I least expect it. But here's the thing. I can't fix the chaos in the world, but I can make sure my cat is eating better food. That's where our next partner comes in, Smalls. This podcast is sponsored by Smalls. And if you're a listener of this show, you know that my cat cannot live without it.

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8:55Michael Popok:Tourism. Tourism is down. Canada has won the tourism battle and they deserved it. Tourism is down in this country 9 % to 10 % over last year. That's an enormous loss of tourism and tourism dollars, equaling the hundreds of billions of dollars of lost money spent here in America for food, for shopping, for travel, for excursions, for hotel rooms, you name it. and all the jobs that are connected to that, out the door. Donald Trump brags about all the billions of dollars he's brought in in tariffs. He never talks about the other side of the equation, all the lost jobs, the lost money because of the loss in tourism.

9:38Michael Popok:And you know who's gained? You know who's gained is America's lost? Canada, of course. Canada is basically America without being completely insane. I mean, I don't know how else to put this at this point. And it's just so nuts how Donald Trump is driving our democracy into the ground. And Canada is there to reap the benefits. Stable democracy. A lot of English speakers there. Beautiful, natural landscape. Very nice people. Safety and security. Nice food. Great food. I don't know. What else? Nice hotels. people are going to Canada instead of going to the United States, going to Mexico. And to see a 10 % drop, I mean, last in 2024, it was a record bounty time for Europeans to come to America under Joe Biden and Kamala Harris.

10:33Michael Popok:And now a complete reversal of fortune. Speaking of fortunes, now let's contrast the American economy that Donald Trump was hired to manage and steward and instead has completely driven it into the ground with the personal economy for Donald Trump. Here we go. About two weeks ago, Donald Trump bragged in a social media post that he had increased his net worth by$1.5 billion. Make America great again, he wrote at the end. He was hired and elected to be the leader of the free world, to be the president of the United States to do the people's business every day, every way, every hour. What we're watching is theft of honest service.

11:19Michael Popok:What we're watching is inefficiency and malfeasance in office because he doesn't care about the American people. He's not doing anything. His economic policies are criminal. And yet he's made$1.5 billion since January. But that's not all. And another$5 billion as of Monday. Because remember that cryptocurrency company he owns with his sons, apparently cutting out all the daughters. He's a misogynist even in his own family. But you've got Barron, Eric, and Don Jr., along with Donald Trump, along with Steve Whitcoff, who's our foreign emissary, our envoy that he uses to negotiate with Putin, doing terribly, that his son and others, okay, that group owns about 20 % of World Liberty Financial.

12:08Michael Popok:And World Liberty Financial just sold a token, a digital asset that's the equivalent of stock, sort of tracks stock, shadow stock, but it's not regulated by the Securities and Exchange Commission. And when you buy it, they tell you, you should not buy, if you buy it, you should plan on losing all of your money. So it's like a stock. It trades on a stock market. It was trading at somewhere between 20 cents and 40 cents. And because Donald Trump and his family own 22 billion, with a B, tokens, his net worth and the family's net worth went up$5 billion on top of the$1.5 billion he already bragged about.

12:55Michael Popok:So you got$6.5 billion increase in net worth for Trump and his family since January. I can see why he's not focused on the American economy. Who cares? Here's what the disclaimer is when you buy a WLFI, World Liberty Financial Investment Token. You should not acquire dollar sign WLFI as an investment on a speculative basis or otherwise for a financial purpose or with an expectation of resale for a profit or otherwise. Why would you buy it then? I mean, literally, it's just a vanity token just to put money in Donald Trump's pocket. And he's telling all of his poor suckers, although they're not reading it, they don't care, that they should not be buying these things to make any money or for resale or for profit or otherwise.

13:45Michael Popok:The thing's on a market. It's being traded on the stock market. How can he say it shouldn't be purchased for resale? But, of course, it benefits Trump and his family. when you own 22 and a half billion tokens and you now have a locked in value of 5 billion, you're doing great. Shows why Donald Trump has no interest in improving the lot of average Americans or any Americans. He doesn't care what happens at the supermarket or the gas pump around your kitchen table, how you care for your elderly family or your children. He doesn't care about that. He cares about making, as any dictator, making as much money as possible before he heads for the exit.

14:25Michael Popok:But he won't even head for the exit with his own power and his own money. He'll fly away on a$400 million plane given to the United States by Qatar, which Donald Trump will conveniently take to the Trump presidential library on the way out the door. This is the running scandal of the Trump administration. It is something that should be indicted. It should be certainly impeached and he certainly should be removed from office. But for that to happen, we got to work hard to get to the midterms, vote, get the Democrats back into power. They're right now the party out of power. Get them back into power.

15:06You know, tick, tick, tick, impeach, convict, remove, rinse, repeat.

15:13Michael Popok:That's what we have to do. and then have a proper platform and set up for the 2028 election and elect a Democrat to that position as well and start healing this nation and start fixing its economy. I'll continue to follow it all right here, full-time on the Midas Touch Network and on Legal AF, the YouTube channel. Slide over to Legal AF, the sub-stack, and you'll pick up all of the filings, all the legal filings as well. So until my next report, I'm Michael Popak. Can't get your fill of Legal AF? Me neither. That's why we formed the Legal AF sub-stack, Every time we mention something in a hot take, whether it's a court filing or a oral argument, come over to the Substack.

15:50Michael Popok:You'll find the court filing and the oral argument there, including a daily roundup that I do call, wait for it, Morning AF. What else? All the other contributors from Legal AF are there as well. We got some new reporting. We got interviews. We got ad-free versions of the podcast and hot takes. Where? Legal AF on Substack. Come over now to free subscribe.

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