Panicked Trump Holds Disaster Presser on Jobs

0:00Ben Meiselas:Donald Trump just held a disastrous press conference on the White House lawn before departing to go and play golf again. He talked about firing the Bureau of Labor Statistics Commissioner because he didn't like the disastrous job report that just came out, and he claims that the report is phony, and that's why he fired the Bureau of Labor Statistics commissioner. Here, play this clip. Your supporters have had issues with these numbers. I've had issues with the numbers for a long time. But today, we're doing so well. I believe the numbers were phony, just like they were before the election. And there were other times.

0:41So you know what I did? I fired her. And you know what? I did the right thing.

0:45Ben Meiselas:No, folks, the report is not phony. Donald Trump is destroying our economy right now. Now, it was the worst jobs report in over a decade, and the revisions were worse at any time since 1979, as more businesses have provided the actual data, which is what we said was going to happen. A reporter then asked Donald Trump, well, going forward, why should anybody trust the numbers if you're just going to appoint one of your lackeys? And Donald Trump says, you're right. Why should anybody trust the numbers? Basically saying no one should trust any numbers coming out of the White House. Here, play this clip.

1:27On the monthly job report, going forward, why should anyone trust the numbers? Well, that's the big thing. You're right. No, you're right. Why should anybody trust numbers? You go back to election, election day. Look what happened two or three days before with massive, wonderful job numbers trying to get him elected or her elected, trying to get whoever the hell was running. Because you go back and they came out with numbers that were very favorable to Kamala, okay, to trying to get him elected, trying to get her elected. And then on the 15th of November or thereabouts, they had an eight or 900 ,000 overstatement reduction right after the election.

2:12It didn't work because you You know who won, John? I won.

2:15Ben Meiselas:Yeah, you know, folks, a lot of people talked about what a disaster it would be if Donald Trump fired the chairman of the Federal Reserve, Jerome Powell. No one had even considered that Donald Trump would fire the Bureau of Labor Statistics Commissioner, which he just did. It's basically just as bad as filing as firing the Federal Reserve chairman because the Bureau of Labor Statistics Commissioner is responsible for the consumer price index and the job data. Now Donald Trump's just going to totally make it all up. Now here, a very confused and sickly Donald Trump mixes up jobs and dollars and claims that one of the reasons he fired the Bureau of Labor Statistics Commissioner is because she did an$800 ,000 or$900 ,000 reduction.

3:07Ben Meiselas:What are you talking about? Here, play this clip. Why did you fire the head of the Bureau of Labor Statistics? Because I think her numbers were wrong. Just like I thought her numbers were wrong before the election. Days before the election, she came out with these beautiful numbers for Kamala. I guess Biden slash Kamala. And she came out with these beautiful numbers trying to get somebody else elected. Then right after the election, I think on the 15th, November 15th, she had an eight or nine hundred thousand dollar massive reduction. Said she made a mistake. uh no that woman that woman's number then donald trump is asked if he would appoint somebody to take over the bureau of labor statistics bls who actually has experience donald trump does not address the issue of experience he goes i will appoint somebody who i think is honest that's his test here play this clip it's a 14 year term right but you put someone in who actually has labor statistics experience.

4:09I put somebody in who's going to be honest. That's all we want. I have a choice. I can have four months. I can do a short term or I can do a 14 year deal. So we'll see.

4:22Ben Meiselas:Well, considering Donald Trump is a felon, a fraud, a sexual abuser, and a bankruptor, we should all have very little confidence in who that person is going to be. We should have no confidence in who that person is going to be. Next up, Donald Trump is asked, if any government official presents information that you don't like, are you going to fire them? And Trump doesn't deny that. He's like, well, we need people I can trust. Here, play this clip. If any government official going forward is presenting data or information you don't like, should they fear for their job? I've always had a problem with these numbers.

5:04You know, I was thinking about it this morning before the numbers that came out. I said, who is the person that does these numbers? And then they gave me stats about before the election. I had a similar problem. I mean, she gave out numbers that were so good for the Democrats. It was like unbelievable. And then right after the election, she corrected those numbers with, I think, almost 900 ,000 corrections. I think nobody had ever seen anything like it. Well, today she did the same thing with the 253 ,000, whatever the number was. No, no. We need people that we can trust. I mean, your question is a very good one.

5:43We need people we can trust.

5:44Ben Meiselas:Then Donald Trump says that Hillary Clinton should be investigated for election fraud. Let's play it. Will Hillary Clinton finally be investigated for election fraud? I hope so. I hope so. I don't know whether or not that'll happen, but I hope so. Let's be honest. Most of us are tired, stressed, and dealing with some kind of pain. And what do we do? We power through. Because the last thing we want is another prescription. And let's face it, nothing in the medicine cabinet ever actually works. That's why I'm so glad I found a CB distillery. Their CBD products are helping so many people, myself included, sleep better, feel more relaxed, and ease everyday pain.

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6:59Ben Meiselas:That's cbdistillery.com, promo code MIDAS, M-E-I-D-A-S, cbdistillery.com. Specific product availability depends on individual state regulations. Donald Trump is asked if he will be blocking foreigners from donating money to build the new White House ballroom. would you block qatar or saudi arabia or others from contributing to the white house ballroom um do you take foreign money and donald trump goes i don't think it matters either way so he's considering taking foreign money into the white house to build the white house here play this clip you say you're raising 200 million dollars you're donating a bunch of this are as well Are you blocking foreigners from donating money to Build-Eck Edition?

7:50Honestly, I never even thought of it, but it doesn't matter. I'm putting up my money, but it doesn't even matter. They've wanted a ballroom at the White House, and it's been very popular. You know, when we put it out yesterday. You're not ruling out that a crown prince or some European or Asian... No, I'm not looking for that. You know, you have very strong restrictions as to who can donate, and we go by the restrictions. I mean, it's not that much money. Yeah, I'll do that. I didn't I didn't even start yet, by the way. But when I do, I'll release it. Maybe one. Me. But you would set that check yourself.

8:27I would. Yeah.

8:28Ben Meiselas:Then Donald Trump dodges a question about his connections with Jeffrey Epstein and why he continued a friendship with Jeffrey Epstein seven years after Donald Trump says that Epstein stole underage girls from the spa at Mar-a-Lago. Donald Trump pretends that he didn't hear the question in order to dodge it. Play the clip. Seven years, seven years from the time that she learned that people were being stolen from Mar-a-Lago to the time that she picked that she took on addressing Epstein. Yeah, I don't understand your question. Now, folks, just going through some of the data again, as I mentioned, this horrific jobs report showed, again, weakest jobs report in over a decade.

9:19Ben Meiselas:U.S. spending on services, hotels, airfare, dining separately, we learn, are down for three straight months. The first time that's happened since 2008 and the Great Recession. The interesting thing about this as well, earlier this morning, the U.S. Department of Labor posted the following. Wages are up. Investments are pouring into our nation. Native-born workers have accounted for all job gains since January. 73 ,000 new jobs. And as Congress member Don Bayer writes, a few hours ago, the Trump administration was touting these job numbers. Now Trump wants to fire the statisticians and economists who took the measurements.

10:01Ben Meiselas:Cooking the books won't change the reality, improve our economy or create jobs. Actually, it will make things worse. Now, even Donald Trump sycophants like Kevin O 'Leary is saying, wow, this was a bad jobs report, but I don't think you should whack the commissioner. Even Kevin O 'Leary, a Trump sycophant, is saying you shouldn't whack the commissioner. Here, play this clip. But we're used to volatility. We had a bad print on jobs. I did not agree on whacking the commissioner. I don't like that. Whacking statisticians makes no sense whatsoever. They don't shoot the messenger. They used to do that in ancient Rome.

10:40Ben Meiselas:Bad news to kill the guy off the horse. You don't need to do that now. It doesn't matter. This is a job where you just print data. So I didn't like that story. Now, just so you can see as well that this is now the line coming out of the White House, this is what they're going to be going with in the future, that nobody should trust any numbers ever again. Why? Because they're all going to be horrible. The economy is crashing right now is the reality. And I've been documenting why that's been happening over the last several months. And remember what I've said. I said one day there's going to be a report and the media is going to say this was a shocker.

11:18Ben Meiselas:And I'm going to say it isn't a shocker because we've been going through it step by step at the Midas Touch Network. But here's Kevin Hassett. He's Donald Trump's national economic advisor. So basically Trump's top economic advisor. And he goes, look, when it comes to these jobs reports, nobody can trust the job numbers, whichever way they go. don't trust the numbers anymore. Here, play this clip. Playing us now, we picked a terrific day for it. National Economic Council Director, my good friend, Kevin Hassett. This is going to be very busy. Hello, Kevin. Kevin, let's just start. Mr. Trump fired the Commissioner of the Bureau of Labor Statistics Commissioner.

12:00What's your take on that? Do you think the BLS is guilty of political manipulating with all of these downward revisions? Well, I think that what you can do is you can look at the numbers and see what's been happening. And basically, the BLS has been revising numbers all over the place in a way that makes it so that I don't think anybody really can trust that the numbers are right whichever way they're going. And as an example, right now, we're looking at the mean typical revision since COVID, north of 80 ,000. The revision over the last two months outside of COVID was the biggest revision since the 1970s.

12:41And so basically what happened is the data got very, very noisy and awful during COVID because it was so hard to do surveys. And then it really just didn't get better. And so I think it is a good time for a fresh set of eyes to look at what the heck is going on because the labor numbers are so important. It'd be so important that people trust them and that they're not being revised all over the place all the time.

13:01Ben Meiselas:Now, here, by the way, is a mock up as well. Seriously, what the new east wing of the White House can look like. Donald Trump is not ruling out the Qataris or the Saudis or foreign money, I guess, coming into this. A 90 ,000 square foot gold ballroom for at least 200 million dollars. This is what Trump's got is going to defile the White House. I mean, I described it on the Midas Touch podcast like it's like pissing on the White House. Like, what the hell are you doing? Meanwhile, this is what Fox News is talking about. Hillary's emails, new docs. Clinton sought to distract from emails. By the way, even the former Bureau of Labor Statistics commissioner, a guy by the name of Bill Beach, a Trump appointee, just came out with a statement condemning Donald Trump, Trump's own BLS commissioner, Bureau of Labor Statistics Commissioner, Bill Beach.

13:59Ben Meiselas:He's out with a statement saying this was the worst thing you could have done, Donald, and he's condemning Donald Trump who appointed him. There you have it, folks. Let me know what you think. Hit subscribe. Let's get to 6 million subscribers. Can't get enough Midas? Check out the Midas Plus sub stack for ad-free articles, reports, podcasts, daily recaps from Ron Filipkowski and more. Sign up for free now at MidasPlus.com.