The Bogus Jobs Reports Hit the End of the Line

Reality could only be denied for so long.  Readers know that for some time we have followed the saga of the Bidementia administration’s job reports that look great when first issues and then are sneakily revised lower in succeeding months.  Today they couldn’t even keep the initial report above expectations.  In fact, it was pretty much a blow-in report.  The actual number of new jobs supposedly added in July was 114,000 versus expectations of 175,000.  Both June and May were of course revised lower.  The unemployment rate went up.  Wage growth was very low.  The household survey continues to show and even lower number of additional jobs.  As usual, some statistical monkey business around jobs related to newly-opened businesses and those going kaput was present, somehow that is always a big positive number.  Without it there would be a loss of jobs.  (BEA Report)

A couple of points on the implications.  One is that while bond prices immediately dropped on expectations the Federal Reserve will cut interest rates to avoid a recession.  If growth is non-existent, which I believe to be the case, then the deficit is going to get worse, even more debt will be issued and I continue to think supply-demand factors will overwhelm whatever the Federal Reserve tries to do with rates.  The second is that while the press is on a full-out pimping campaign for Komedylala, and she may have some “bounce” as a result, the bad economic news is likely to keep coming, including big declines in the stock market, and people will be constantly reminded by Trump and Vance just how bad Biden and the Dems stewardship of the economy has been.  Of course, Trump and Vance have an unusually unfortunate ability to screw-up a winning hand.  I told you Vance was a bad pick, in fact, he was a vanity pick since he kissed Trump’s ass so well.  And Trump has trouble staying on message as well, which should be only–the economy and inflation, the border and the crimes committed by illegals and what it is costing us to house, feed, etc, all these newcomers, out-of-control general crime, and the education system being nothing but a whacked ideological indoctrination factory.  Don’t talk about anything else.

And force Harris to do interviews and as many debates as possible, and let her talk the entire time.  She is a complete moron–see her unscripted remarks last night as the prisoners from Russia returned.