Trump Smothered by Awful News on Friday from Hell

0:00Ben Meiselas:This podcast is supported by Anthropic, the public benefit corporation behind Claude. Everyone's got a hard question about AI. Your job, your kids, where it's going. Anthropic was built to surface those questions and share what it finds along the way. Because there's hope in hard questions. Ask yours at Claude.ai slash Spotify and keep thinking. That's Claude.ai slash Spotify. 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 healthcare and social assistance.

0:51Ben Meiselas:In all other areas, really, like manufacturing, jobs were not gained. I think 26 ,000 or so manufacturing jobs were lost, and healthcare and 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.

1:38Ben Meiselas: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 aren't 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.

2:19Ben Meiselas:Well, we were right at the Midas Touch Network. And unfortunately, we were right 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 month 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.

3:12Ben Meiselas:Now, the stock market is responding as you would expect it would. 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 going to wake up and everyone's going to say, oh, we're shocked. And I'm going to say, I'm not shocked. The Midas Touch viewers aren't shocked 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%.

3:46Ben Meiselas: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 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.

4:25Ben Meiselas:Let me just show you again the minute here where Fox is able to say, where Fox calls what the job report is. Here, let's just play that clip for a second. Let's play it. The Nasdaq down about 200 going. 73 ,000 jobs, 73 ,000 jobs created in the month of July. Number just coming out. And that's total. 4.2 percent of the unemployment rate right in line with expectations. Here are the numbers for the month of July. Jobs came in at 73 ,000. That was lower than the expectation, which called for 110 ,000 jobs. The unemployment rate right in step with expectations at 4.2%. Steve Moore, your reaction?

5:09Look, I think this is all a result, this disappointing number is a result of all the turmoil over tariffs and trade wars.

5:17Ben Meiselas:Now also, the unemployment number ticked up to 4.2%, But that doesn't really make a lot of sense either. And one of the other Fox hosts said, I'm not really sure, 4.2 percent? You would expect, based on the downward revisions of the past month and where we are this month, that unemployment probably seems to be higher than 4.2 percent. We're going to have to relook at that number because the Trump regime is all, it's a Ponzi scheme. They're feeding us fraud. But here's when Fox even is like, huh? Here, play this clip. So today's report is really going to shed more light that this was a very weak report.

5:57The revisions certainly to May and June are very concerning. I'm surprised unemployment is just at 4.2%. I know that, you know, they're looking at that number, but they need to look at the whole picture. We do see a softening market. Now, there are jobs out there. I know you did ask me about that. There's still opportunities like some of the hottest jobs, nurse practitioners, physician assistants, data scientists, analyst roles. But these are really skilled, high level positions. These are the top occupations that are growing and we need to get more people into these fields. They pay six figures.

6:38But a lot of those entry level positions, Maria, are going away. So I am concerned about the labor market, that we need to get more people in trades and in skilled roles, because that's where the jobs are. Well, for sure. And I think, you know, to discuss the health care, the marriage of health care and technology is huge. And that is creating lots of jobs.

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8:31Ben Meiselas:So there was that data point as well. So, of course, Donald Trump is going to blame chairman of the Federal Reserve, Jerome Powell. Too little, too late. Jerome, too late. Powell is a disaster. Drop the rate. The good news is that tariffs are bringing billions of dollars into the United States. And then Donald Trump also posted that the Federal Reserve Board, you know what you got to do, like remove the guy, step, take action. Then Donald Trump posted the following as well. This is what he posted, though, about this is how I think he claims he was going to solve the Ukraine war, the Russia's unlawful invasion of Ukraine.

9:10Ben Meiselas:Donald Trump posted this morning. I've just been informed that almost 20 ,000 Russian soldiers died this month in the ridiculous war with Ukraine. Russia has lost 112 ,000 soldiers since the beginning of the year. That is a lot of unnecessary death. And he puts that in caps. Ukraine, however, has also suffered greatly. They have lost approximately 8 ,000 soldiers since January 1, 2025. And that number does not include their missing. Ukraine has also lost civilians, but in smaller numbers. As Russian rockets crash into Kiev and other Ukrainian locales, this is a war that should have never happened.

9:43Ben Meiselas:This is Biden's war, not Trump's. I'm just here to see if I can stop it. I'm just here to see what I can do. You promised you would end the war on day one. And all you do is blame Biden. You blame Obama. Here was Donald Trump's other post in the last 10 hours. I'm not even going to show them all to you. 15 posts about Obama. God, after me, Obama was mean to me. Obama did something about Russia. Obama, Russia, Russia, Russia. Hillary Clinton, Hillary Clinton 2016. Dude, it's 2025. Our economy is suffering. People are losing their jobs. People can't afford Holmes and you're out there talking about freaking ballrooms and talking about 2016 Obama while covering up the Epstein files.

10:24Ben Meiselas:Oh, and the cover up of the Epstein files, folks, is getting even worse. One of the things we learned today, you know how Donald Trump put a team of 1000 FBI and DOJ staff, so lawyers and FBI agents to go through the Epstein files for the sole purpose, not of releasing them, but to find how many times Donald Trump's name are in the files and to redact and remove it to hide it from we the people. Well, we've now learned a Bloomberg exclusive that the FBI redacted all of Donald Trump's names to try to destroy all of the evidence regarding Donald Trump. Now, there was a whistleblower, Michael Seidel, who works in the records department, who spoke up and said, don't do that.

11:11Ben Meiselas:We shouldn't be doing that. He was a guy who was leading the records department. There's no reason to redact Trump's name. You know what they did? They said, you have to resign or we're firing you. And Seidel resigned because he said that don't cover up Donald Trump's name. And they pushed him out. A new exclusive from Bloomberg on that this morning. And finally, Ghislaine Maxwell, convicted sex trafficker who Donald Trump has given immunity to. She has been moved from her Tallahassee prison where she was sentenced and she was serving her sentence now to a prison in Texas. The New York Sun got the exclusive report there and she was in Tallahassee and now she's moved to federal prison Camp Bryan in Southeast Texas.

11:57Ben Meiselas:Surely because she probably thinks that, you know, in Texas, maybe she gets better conditions. I'm not sure, but she's working with the Trump regime. She's positioning for a pardon. They moved her probably at her request to the facility that she wanted to be at as she cozies up to the Trump regime as part of Donald Trump's plan to cover up his dark and sick and sadistic past. It is absolutely ridiculous. And finally, Labor Secretary Lori Chavez de Reimer, by the way, who was supported by the Teamsters head, Sean O 'Brien, who, in my opinion, has completely sold out the Teamsters. Remember, he said, oh, Trump's going to be great for labor.

12:36Ben Meiselas:Trump's the best for labor. Remember Sean O 'Brien in Mar-a-Lago? He was Laura DeRimer, Laura Chavez DeRimer. She's great. She's great. Dude, she's against the PACT Act. She's literally against the key protections for unions. What the hell are you talking about? This MAGA union leader. It's ridiculous. Anyway, she goes, well, you know, the numbers, of course, could be better. But at the end of the day, Donald Trump is putting America first. So, yeah, sure, the numbers can be better. But this is what America first looks like. Here, play this clip. The president has done a wonderful job in these trade deals.

13:09We're seeing more and more countries come to the table. And this is another leg of the stool that can be assisting the American worker in the American business. And he's choosing not to do so. We need those interest rates down so that our businesses can borrow more money at a cheaper rate and invest in their companies, invest in the American economy, and grow this economy even better. We've seen positive job growth. We have seen consumer confidence go up. We've seen unemployment hold steady. While we could have seen better jobs numbers, right now we're seeing American workers are being put first.

13:40Native-born workers account for all of the job growth, and that's key. And the president is going to lean in, and all of his secretaries are going to lean in. And I can tell you this, what I'm hearing on the ground is positive. People are excited about what's happening on the ground. We're setting the table for a positive economy. And the American worker is going to win in this occasion because the president has their back.

14:01Ben Meiselas:One quick point. Utterly, utterly pathetic. Well, there you have it, folks. Let me know what you think. Hit subscribe. Let's get to six million subscribers. Thanks for watching.

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