Trump’s BLS nominee suggests suspending jobs report, and the implications are pretty striking. The idea, apparently, is to simply stop reporting the jobs numbers altogether. It’s like a magician making a problem disappear, but instead of a rabbit, you get… well, the truth. The basic logic seems to be: if you don’t test for COVID, there’s no more COVID; likewise, if you stop publishing job reports, there are no more job losses. Simple, right?
The potential motivation behind this move is pretty clear: to obscure the reality of the economic situation. Some see it as a way to cover up the administration’s failures, much like a shell game.… Continue reading
U.S. layoffs surged in July, reaching their highest level since the early months of the COVID-19 pandemic, with 62,075 job cuts announced. This represents a significant 29 percent jump from June and a 140 percent increase compared to July 2024. The rise is attributed to government downsizing, corporate restructuring, and the growing influence of artificial intelligence. Sectors such as public agencies, tech firms, and retailers are leading the cuts, with automation and AI linked to over 20,000 layoffs in 2025.
Read More
Amidst warnings of an impending recession, Russian President Vladimir Putin announced plans to reduce military spending over the next three years, despite current spending reaching nearly $172 billion annually. This decision follows warnings from economic officials regarding dwindling resources and a slowdown in wartime economic growth, despite 4.3% growth in 2024. Russia faces challenges including high inflation, labor shortages, and the impact of Western sanctions, leading to cuts in non-military spending, particularly social programs. Furthermore, private industries are suffering, and banking officials have privately warned about a potential crisis next year, while the country struggles with reintegrating returning veterans.
Read More
Why, after a decade of marriage equality, do we still hear the echoes of warnings that it would lead to societal collapse? The simple answer, it seems, is that some people just don’t like it when the world doesn’t conform to their narrow worldview. They predicted the end of days, a descent into chaos, the breakdown of all that is good and holy. Yet, here we are, still standing, still functioning, and still, for the most part, the same civilization we were before.
The arguments themselves were often absurd, filled with hyperbolic claims about the future of marriage, family, and the very fabric of society.… Continue reading
Economic data released Thursday presented a mixed picture of the US economy. The final estimate of Gross Domestic Product showed a decline of 0.5% from January to March, with consumer spending growth slowing significantly. However, business investment remained positive, and new orders for durable goods surged. While unemployment claims increased, and the GDP decline was due to trade deficits, the Federal Reserve is likely to focus on inflation risks and the labor market when making decisions on interest rates.
Read More
In a stark economic forecast, the Federal Reserve projects aggressive stagflation for the remainder of 2025, anticipating 3 percent inflation, a 1.4 percent GDP decline, and 4.5 percent unemployment. This projection follows the Trump administration’s consideration of increased aid to Israel and the passage of the “One Big Beautiful Bill Act,” which significantly increases the national deficit. Fed Chair Powell reiterated that the current economic downturn stems directly from President Trump’s tariffs. The Fed maintains its current interest rate policy despite the projected stagflation.
Read More
US retail sales have plummeted, marking the largest drop in four months. This significant decline reflects a widespread shift in consumer behavior, driven by a confluence of factors impacting the financial well-being of many Americans. The most immediate and palpable reason is the simple lack of disposable income. With the rising costs of essential goods like food, rent, and medical care, many are finding it increasingly difficult to afford even basic necessities, let alone discretionary purchases. This financial strain is leading individuals to drastically curtail their spending, prioritizing essential expenses and delaying or foregoing non-essential items altogether.
This reduction in consumer spending is visible across various sectors.… Continue reading
Unemployment benefit claims increased to an eight-month high of 247,000 last week, exceeding analysts’ predictions and raising concerns about the economy’s future. This rise, though still historically low, follows a trend of decreased consumer and business confidence, potentially linked to ongoing tariff uncertainty. The job market shows signs of cooling, with fewer job openings and a decrease in employee resignations, suggesting a slowdown in the previously robust hiring environment. Analysts anticipate modest job growth in May’s official employment report, further indicating a potential economic shift.
Read More
In a recent interview, President Trump downplayed the impact of tariffs on consumer goods, claiming that increased prices on items like strollers and clothing are insignificant compared to energy costs. He defended the tariffs, arguing they address a massive trade deficit with China and asserting that consumers don’t need excessive quantities of goods. Despite a positive jobs report, concerns remain about the economic impact of the tariffs and a potential recession, with Trump attributing negative aspects to the Biden administration. Furthermore, the administration is facing pressure regarding the deportation of Kilmar Abrego Garcia, with conflicting legal opinions on his return.
Read More
Berkshire Hathaway’s first-quarter operating earnings decreased 14% to $9.64 billion, primarily due to a 48.6% drop in insurance-underwriting profit, partially attributed to Southern California wildfires. The decline also reflects a $713 million foreign exchange loss, contrasting with a gain the previous year. Tariffs and geopolitical uncertainties, particularly impacting BNSF Railway and Geico, created an unpredictable environment and contributed to the decrease. Despite this, Berkshire’s cash reserves reached a record high of over $347 billion.
Read More
Matt Underwood 
John Q. Hosedrinker