Well, jobs numbers are down the most since last time Trump was POTUS

[Joe]

I have too much money.

 

[Admin.]

I have too much money.

My penis is too big.

 

[Joe]

Trump fired the Messenger, wants to cut the Fed Rate by 3%

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Josh Lipton

Economists have been warning that President Trump's trade wars would depress growth and hiring, Trump disagrees, but does the weakness in the latest jobs report give these warnings more weight? Here with more is Yahoo! Finance senior columnist, Rick Newman, Rick.

00:21 Rick Newman

Hey Josh, um, well, yeah, I think what we're seeing in the economy, not just the jobs report, but also the GDP report on economic growth for the first half and other things, I mean, this is exactly what you would expect to happen when you, uh, put tariffs on $3 trillion worth of imports, which makes them more expensive, which means spending goes down, investment goes down, hiring goes down. So let's just talk about the job numbers for a minute. I mean, a very weak showing, uh, for July and then the big revisions for the two prior months, um, job growth is way, way below, uh, what it was this time, uh, last year and that is what you would expect, uh, companies to do when we have so much uncertainty. I mean, that's the, um, that's the uncertainty premium which is companies just sit tight. Uh, it's going to show up also in spending and investment in coming months. So, um, it's not surprising to anybody except, I guess, Donald Trump and we, uh, we, I think we can infer that he's getting jittery because of this ridiculous move that he fires, you know, he shot the messenger by firing the commissioner of, uh, the Bureau of Labor Statistics. The problem is not the data, the problem is the policy, um, but we're going to trundle forward with this, obviously for many more months.

02:36 Josh Lipton

And Trump posted on social media in response to the jobs report, Rick, uh, drop the rate. He posted. Um, given the weakness you're pointing out to there in the GDP report, the jobs report, Rick, is he right? Is this a reason now, get, that the Fed should, should get going and drop the rate?

03:16 Rick Newman

I mean, that's what the market thinks. I mean, the odds of a rate cut in September shot up. Uh, I think it's now over 80% likelihood according to, uh, the CME Fed watch tool. Um, but the Trump is still not going to get what he wants from the Fed because he wants the Fed to cut by three percentage points tomorrow, um, and, um, that would be an unprecedented and panicky move which the Fed is not going to do. I mean, if we see, you know, more terrible data like we saw in the jobs report, I guess it's reasonable that the Fed could cut by half a point rather than the traditional quarter point cut in, uh, September. Um, but you know, I'm, I'm, I don't think it, you know, let's say the Fed is a little bit behind. There's all this speculation. Should the Fed have seen this bad jobs report coming? Um, it doesn't make that much difference if the Fed cuts in July or September. And remember, they, they don't, they, they can cut quickly if they have to. Um, but you know what? Broaden it out, I'm still not seeing anybody predicting a recession and I looked at the, uh, Polymarket, um, prediction odds today. They're, excuse me, recession odds, they're very low. I mean, they got as high as 67%, I think, in April when Trump was at maximum tariff. Uh, they're now, I think below 20%. So people are not freaking out about a recession, um, we just are getting a soft patch here. We'll see if it gets worse.

 

[The Prowler]

Aren’t you supposed to be playing your messed up set list for the deaf people today?

No.

I had a baseball practice.

You need to refer to my Schedule threads when you have these questions.

 

[The Prowler]

The TSX index is only up about 23.5% in the past year....

Time to panic!!!!!

 

[Joe]

The TSX index is only up about 23.5% in the past year....

Time to panic!!!!!

Gold I bought in 2024 is up 60%+ Lex @The Prowler

So that beats the TSX or the US stock markets, Lex.

Same time, I'm getting interested in the TSX & other Stock indices, Lex.

However...I think they're too high at the moment. Doesn't seem logical that the Stock Market could keep blowing off all-time highs when the US economy in particular, is projected to slow down.

That's why I'd rather wait til later this year before buying anything Lex

While the markets may not crash, they could dip - say upwards of 20%?

So I figger that may be a better time to buy in.

Just a a hunch, no real scientific analysis here.

 

[Joe]

How tariffs are affecting Average Americans and eating into their budgets:



Anyone here from the States feeling the pinch yet?

Are these stories accurate?

@Lily? @Admin. ?

 

[Admin.]

Tariffs Are Great – If You Like Raising Prices, Undermining Jobs, and Inhibiting Innovation​

An Essay by Matthew Rooney, Managing Director of the Bush Institute-SMU Economic Growth Initiative

---

Americans — and especially the middle class — are at risk of economic consequences of a protectionist trade policy. The U.S. should look to history for a lesson in the importance of more open global trade.

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[Admin.]

 

[Admin.]

 

[Lily]

How tariffs are affecting Average Americans and eating into their budgets:



Anyone here from the States feeling the pinch yet?

Are these stories accurate?

@Lily? @Admin. ?

Some prices have gone up and I've been able to easily absorb them so far, but I am not big on frivolous consumption. We buy what we need.

 

[Admin.]

The TSX index is only up about 23.5% in the past year....

Time to panic!!!!!

I’ll take ‘What precedes the bubble bursting?’ For $3.00, Alex.

 

[Joe]

Some prices have gone up and I've been able to easily absorb them so far, but I am not big on frivolous consumption. We buy what we need.

Your Mr. Trump seems to have scared many foreign tourists away @Lily.

Vancouver appears to be full of Latinos these days. Mexicans, Brazilians & other Latin American countries.

Oh well, your loss, our gain.

 

[The Prowler]

Gold I bought in 2024 is up 60%+ Lex @The Prowler

But you are only investing.


Chump.


Change.

 

[Courier 6]

Oh, look, the Left's perennial idol, Will Could-Gonna.

 

[Jack]

How tariffs are affecting Average Americans and eating into their budgets:



Anyone here from the States feeling the pinch yet?

Are these stories accurate?

@Lily? @Admin. ?

I dont shop at any of those markets and I buy my food farm to table so not feeling any "pinches".

They may be "accurate" if you like buying useless shiny plastic objects.

 

[Joe]

I dont shop at any of those markets and I buy my food farm to table so not feeling any "pinches".

They may be "accurate" if you like buying useless shiny plastic objects.

Good summary about the impact of Tariffs on American consumers which Trump & his Administration don't want to talk about:

 

[Joe]

Republican Senator Rand Paul on who pays for the Trump tariffs :



So American families will pay thousands more per year & have even less to spend.

 

[Jack]

Half the electorate knew that and voted for him anyway, just to "own the libs"

Much the same way the libs try to "own the cons" on this board.

The fake outrage is starting to really piss me off.

 

[Joe]

Half the electorate knew that and voted for him anyway, just to "own the libs"

Hmmm, interesting.

Is that why Trump & his supporters don't seem to mind that they are crippling the US tourist industry as well? I guess they 'own' bellhops, chambermaids & waitresses whom Trump's policies were supposed to help.

A lot of international tourists who would normally go to places like Las Vegas seem to be coming to Vancouver instead. Vegas is dead but it's busier here than usual.

 

[Jack]

Hmmm, interesting.

Is that why Trump & his supporters don't seem to mind that they are crippling the US tourist industry as well? I guess they 'own' bellhops, chambermaids & waitresses whom Trump's policies were supposed to help.

A lot of international tourists who would normally go to places like Las Vegas seem to be coming to Vancouver instead. Vegas is dead but it's busier here than usual.

Vancouver is exquisite. Spend a couple weeks there every year when I can afford it.

Access to Victoria is also a pleasure.

 

[Lily]

Your Mr. Trump seems to have scared many foreign tourists away @Lily.

Vancouver appears to be full of Latinos these days. Mexicans, Brazilians & other Latin American countries.

Oh well, your loss, our gain.

Wtf?

You can be a real dick, Joe. As if it's all Americans fault that we have that asshole as President

 

[Alfalfa Sprout]

And then put it right back into the economy when those government workers pay mortgages, auto loans, food, etc.

...and also, buy more Chinese made goods.

 

[Lily]

And also. buy more Chinese made goods.

So, don't buy Chinese made goods. Do you buy only American.made products?

 

[Alfalfa Sprout]

So, don't buy Chinese made goods. Do you buy only American.made products?

Um, that was meant to be humorous.

 

[LotusBud]

 

[Lily]

Gawd, he's so disgusting.

Have you seen the Trump episode of SouthPark? It's seriously hilarious.

 

[LotusBud]

Gawd, he's so disgusting.

Have you seen the Trump episode of SouthPark?

No. Is it on youtube?

 

[Lily]

No. Is it on youtube?

I don't think so.

Here's a clip though.

 

[Admin.]

Berkshire Hathaway operating earnings dip 4% as conglomerate braces for tariff impact​

PUBLISHED SAT, AUG 2 20258:25 AM EDTUPDATED SAT, AUG 2 20258:52 AM EDT

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KEY POINTS

• Berkshire’s operating profit — those from the company’s wholly owned businesses including insurance and railroads — dipped to $11.16 billion in the second quarter.
• The Omaha-based conglomerate once again issued a stern warning of President Donald Trump’s tariffs and the potential impact on its various businesses.

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