'You can’t lie to the American people' Joe slams Trump for using Heritage Foundation jobs numbers

from MSNBC

 

 

Still Fuming Over a Weak Jobs Report, Trump Finds Some Numbers He Likes

(The data from which these numbers have been derived has never been published anywhere and they say they will try to publish it sometime in the next 6 months. It's secret data only the Heritage Foundation can see. But don't worry. It's accurate. Just ask the neoliberal globalists who put together Project 2025 and Project Esther. They have nothing to hide.) 

from the New York Times

President Trump finally got the economic numbers he wanted. 

Still bristling about last week’s less-than-impressive report from the Bureau of Labor Statistics, Mr. Trump summoned reporters into the Oval Office on Thursday afternoon to present them with more favorable data.

During an impromptu news conference, the president displayed charts from Stephen Moore, an economist at the conservative Heritage Foundation, that he said proved his economy was better than that of his predecessor, President Joseph R. Biden Jr.

“All new numbers,” Mr. Trump said, holding up a chart.

The typically humdrum task of counting jobs, income levels and other economic data has become decidedly dramatic during the second Trump administration. For months, Mr. Trump and his top allies had praised the Bureau of Labor Statistics when it showed strong job growth. But after the bureau put out weak job numbers last week, Mr. Trump fired Erika McEntarfer, the agency’s commissioner, and claimed that the figures were rigged. (Instead of offering proof, he said it was “my opinion.”)

The firing of the commissioner, whose job was merely to count the data accurately, left the president in search of some different data, more to his liking.

Enter Mr. Moore.

It just so happened that the Heritage Foundation economist had been crunching some census data, and he began assembling the figures into graphs that he knew would please the president...

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Bitcoin falls below $50,000

from RT

Bitcoin, the world’s largest cryptocurrency by market capitalization, has shed more than 10% of its value in one day, amid a global stock market crash that has affected the cryptocurrency market, according to trading data.

The price of Bitcoin has fallen below $50,000 for the first time since February, hitting a low of $48,126 at 08:41 GMT on Monday. It has recovered slightly since then.

In late July, Bitcoin traded at above $62,000, and in March, it briefly touched an all-time high of $70,136...

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The Dow Jones plunges over 1,000 points as markets are rocked by U.S. economy fears

from NPR

Stocks fell sharply Monday, as worries about the U.S. economy sparked a world-wide sell-off.

Market jitters that began with last week's weaker-than-expected jobs report spread to Europe and Asia, as investors worry that the world's largest economy — long a pillar of global growth — is beginning to show some cracks.

The Dow Jones Industrial Average tumbled more than 1000 points in early trading. Japan's Nikkei average suffered its worst day since 1987, falling more than 12%...

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Global stock market crash

from RT

Stock markets went into a meltdown on Monday amid fears that the US could be heading for a recession, pushing investors into panic-selling mode, market data shows.

The US has seen an unexpected rise in the unemployment rate, according to July payrolls report unveiled on Friday. This led to markets betting on the Federal Reserve cutting rates in September by a full 50 basis points, and sparked debate among economists about the overall health of the US economy, with its enormous influence in the global financial market.

US stocks closed sharply down on Friday, with the technology-heavy Nasdaq Composite falling into correction, but Monday kicked off with new drops...

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Biden tells media to start reporting ‘the right way’

 from RT

US President Joe Biden paused on his way to his Christmas holiday vacation to demand more favorable media coverage of the nation’s economy amid his slumping approval ratings in the polls.

Biden stopped briefly to talk to reporters outside the White House on Saturday before boarding a helicopter with family members to fly to Camp David, the presidential retreat in Virginia. Asked about his 2024 outlook for the US economy, he said, “All good. Take a look. Start reporting it the right way.”

The president has repeatedly expressed frustration with media coverage as voters continue to give his economic policies poor marks despite statistical reports showing low unemployment and slowing inflation. He complained at a White House press briefing in October that public perceptions of the US economy had been dimmed by the negative tone of media coverage.

 However, a Monmouth University poll released last week showed that only 28% of Americans believe that Biden is doing an adequate job in taming inflation, and just 12% report that their personal financial situation is improving. His overall approval rating has dropped to 34%,..

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Fed Chair Powell Promises Volker-style 'Shock' to Kick Off Greatest Depression

In the early 80s Fed Chairman Paul Volker jacked up the interest rates during a mild recession by over 100% to a high of 21%. The result was a lasting recession worse than what we saw in 2007-2008. He did that as shock therapy in order to ready the country for neoliberal Reaganomics. Current Fed Chairman Jerome Powell just promised to do the same thing at Jackson Hole, I believe for the same reason.