Speaking of awful, BLS issued a minor revision correcting job gains down by almost 1,000,000 between April, 2024 and March, 2025.
We didn't trust the last BLS report that looked bad for trump. Do we believe this one? Or is the person that reported it going to get fired too? Just trying to keep up.
gee I thought the head of BLS could not affect things? Hopefully the new head can find a way to put out data that does not require such large revisions.
We didn't trust the last BLS report that looked bad for trump. Do we believe this one? Or is the person that reported it going to get fired too? Just trying to keep up.
gee I thought the head of BLS could not affect things? Hopefully the new head can find a way to put out data that does not require such large revisions.
It would be a very difficult fix. The annual downward revisions from April-March are from businesses that shut down during that time. The BLS discovers that those businesses, and their associated jobs, are gone by going through the tax records, which takes a lot of time. That’s why they are always downward revisions, it’s existing businesses disappearing. This is a different process than the monthly revisions, which can and have been both upward and downward.
It’s just further evidence that Trump and co have no clue what they are doing with these unnecessary tariffs. Trump is destroying the American economy for no good reason.
It is imperative that we on the Left come out in droves for the mid-terms to vote and take back the House and Senate. This will at least impede any more harmful legislation. And they’ll be able to impeach Trump on numerous charges and possibly remove him from office.
There’s a possibility that Trump’s Chronic Vein Insufficiency is really a much more serious Thrombosis condition. If it is, it’s doubtful he will be able to continue the presidency much longer anyway. We would be stuck with that jerk Vance, but I don’t think he can do much worse than Trump. If he runs as the presumptive nominee in 2028, I project he would be crushed on Election Day. A lot of people Vance, even on the Right.
This is a short-sighted idea. We're really talking about mortgages, right? Have you heard all of the news about people not being about to afford houses and rent being so high and all of that stuff? Do you remember the house-hopping, over-bidding, and over-paying frenzy that followed the super-low rates following covid? That was a significant driver in both inflation and residential affordability. If you lower rates significantly again, housing prices will zoom even higher - making the problem much worse for people.
Plus it can only help people with current mortgages if rates dropped low enough to make refinancing practical.
Sure it will look good for Trump to say he has reduced the debt, but it will help him, not most people.
Rates impact all borrowing not just mortgages.
Allowing small businesses(which do almost all of the hiring) to borrow money to expand their businesses and hire more employees helps everyone.
US small businesses do not do "almost all of the hiring". They do about half of it. Moreover, many businesses defined as "small" rely almost exclusively on one or two "big" business customers to survive. Many are, in effect, subsidiaries of "big" business that give the latter more flexibility in dealing with fluctuations in demand.
And you're not wrong that interest rates are about far more than mortgages, but that doesn't mean that lowering them is always beneficial for sustained growth. Lowering them, as Trump would prefer for political reasons, WILL produce a spate of growth, but if underlying conditions are not propitious, much of the new investment they fuel, whether it's by big or small business, will fail and the money borrowed to invest will not be repaid at the contracted interest rates, or at all. The medium term result of this pattern-- a bursting debt bubble-- will decidedly NOT "help everyone".
All of this is why the Federal Reserve HAS to maintain strict independence from the government of the day. It's also why sensible Americans should retain strict independence from Trump and MAGA right about now.
Lower rates will help people. All the rate hikes under Biden increased interest on the debt by about $700 billion a year. That annual increase has to be offset by cuts to federal spending or with tax increases. If Dems wanted a voice in where the cuts were made, then they should have made them (or hiked taxes) when they were still in power. They didn’t because it would have been unpopular. Trump is doing what is unpopular but absolutely necessary.
This is a short-sighted idea. We're really talking about mortgages, right? Have you heard all of the news about people not being about to afford houses and rent being so high and all of that stuff? Do you remember the house-hopping, over-bidding, and over-paying frenzy that followed the super-low rates following covid? That was a significant driver in both inflation and residential affordability. If you lower rates significantly again, housing prices will zoom even higher - making the problem much worse for people.
Plus it can only help people with current mortgages if rates dropped low enough to make refinancing practical.
Sure it will look good for Trump to say he has reduced the debt, but it will help him, not most people.
We are not talking about mortgages. We are talking about an increasing share of our federal budget going to interest payments. The reason our discretionary budget is being slashed is because we are paying more interest:
Interest payments are equal to roughly 20% of federal revenue. Trump has cut discretionary spending to its lowest level in decades (and it still may not be enough to keep up with rising interest payments).
The Trump recession is beginning. Within a year most of his blue-collar supporters will have lost their jobs. But they'll blame it on Biden. Or FDR.
Speaking of awful, BLS issued a minor revision correcting job gains down by almost 1,000,000 between April, 2024 and March, 2025.
After Trump fired a civil servant to appoint a lackey... Imagine if Biden had fired them and hired someone and then suddenly all of Trump's job and economic reports are a lot worse.
Speaking of awful, BLS issued a minor revision correcting job gains down by almost 1,000,000 between April, 2024 and March, 2025.
We didn't trust the last BLS report that looked bad for trump. Do we believe this one? Or is the person that reported it going to get fired too? Just trying to keep up.
Looks like Trump is manipulating the numbers ahead of the Fed meeting.
Now they can argue jobless rate is up as is inflation, so a rate cut is needed.
Anyone who believes anything coming out of the BLS at this point needs to have their head examined.
