Transcript of Trump Has Catastrophic Friday After Disaster Reports

Donald Trump is having a catastrophic Friday. We just got one of the worst jobs reports in recent history, although all of the jobs reports under the Trump regime have been pretty bad. So Donald Trump right now is doing social media post after social media post saying, I won the war, a must-read, I'm the winner, Iran lost. I'll get to that in a moment, but let's look at this horrible jobs report. The US economy lost 23,000 jobs in July, way below the expectations of around 80,000 to 90,000 jobs were expected to be gained in the month of July. Also, major revisions in May and June. May and June reports were revised down by a combined 103,000 jobs, so 103,000 less than what was previously reported. The unemployment rate right now is 4.1%. Wage growth right now is 3.2%. 2% with annualized inflation 3.5% year over year. And the only reason why it's 3.5% is because the memorandum of understanding temporarily brought it down from the fours. But I think that's gonna go back up very soon as well to around 4%, 4.1% year over year inflation, which means that the wage growth is not in growth at all.

It's being absolutely crushed by inflation. So people don't have any money to spend. It's why they're tapping into their savings and why you also see, uh, so many people, uh, on the brink of bankruptcy here in the United States. We have the lowest labor force participation rate since February 2021. And if you just look at the grim picture over the past 3 months, 6 months, 12 months, and the average job gains overall since Trump took office. I mean, we are at basically no job gains at all, or, you know, in many cases and in many sectors, we're in job recession territory. I mean, you can just see all of the negative printouts right here, all the, you know, red. You don't want to be below that horizontal line right there when it comes to job creation. So with this horrible jobs, I mean, horrible jobs report, what are they saying on state regime media? How is Fox trying to spin this? It's ridiculous. Fox is saying this is great. This means that corporations will be able to make more money because they're getting rid of— they're shedding jobs. It helps their bottom line, and it may at least temporarily stop the Federal Reserve from raising interest rates because you may need to lower interest rates or keep interest rates the same in order to try to spur job creation, although companies are not using using the better lending ability to actually bring on more jobs.

They're actually using it to build out data centers and to build out, uh, uh, tech that replaces workers like AI. But here's what they're saying on Maria Bartiromo's show this morning. It's really offensive and disgusting. And this is what people just completely hate about this Trump regime and these oligarch domination of, uh, the United States. Let's play this clip.

Again, a disappointing jobs report. Dow futures way up, doubling where they were before. I'm going to continue to dig through to tell you where the jobs are and are not. Maria.

All right.

Thank you, Lauren. 23,000 jobs lost in the month of July. Louie, you wanted a weak report. You got it. Was this too weak?

No, not at all. You know, when Palantir announced their earnings, they basically had record earnings by decreasing their sales force. So there's this AI productivity boom underway. And, uh, it's obvious what's happening. But no, this is great news. That's why the market's up. And now the Fed has an unemployment mandate, and this is great news. And obviously a lot of people disappeared from the workforce of the unemployment rate.

More from state regime media here. As these numbers were being revealed, uh, Maria Bartiromo and her co-hosts on this show refer to what's taking place as the Goldilocks story. So with this horrible jobs report, right, they're calling it Goldilocks, meaning just right. It's perfect. This is exactly what we wanted. Folks, these people are really sickos. They're really vile. They're really evil. Like, I'm not trying— this isn't like a debate. No, these are evil humans who hate us, and they hate you. Here, watch this for Watch this for yourself. It's crazy. Here, play this clip.

Yep.

And we also have revisions actually for June and other revisions. Lauren, do you have those numbers? Revisions for June, Maria, down by 37,000. May down by 66,000. Combined, 103,000 fewer jobs created in the months of May and June. Maria. Yeah. And that is all about the market reaction today is all about what this means for the Federal Reserve. Louis Navarro, how do you want to allocate capital in this environment where once again we're talking about Goldilocks, a Goldilocks macro story.

Yeah. You know, the last I looked, FactSet was forecasting 47.4% annual earnings growth for the S&P this year. But that was before Palantir's blowout results. So we might, might hit 50% earnings growth on the S&P right now. That's unbelievable. And you just can't ignore all these good earnings.

In contrast, look at what's going on in Canada. Canada added 75,000 new jobs in July, and its unemployment rate is the lowest in 2 years. And the Canadian stock market is doing good too. You could do both at the same time, growing at a significantly higher percentage than here in the United States. As Donald Trump says, oh, the Canadians are nasty, they're nasty, 51st state. Canada is being led by someone who's a former central banker, lead central banker in Canada and in England, and he is running the country efficiently. And that's not to say there aren't issues. That's not to say it isn't hard. That's not to say the tariffs don't hurt everybody, including Canada, but he's doing his best and he's being transparent with the people and he's behaving like a grownup. How about that? Here you have Kevin Hassett not behaving like a, like a grownup. He's Trump's national economic advisor. And he, this guy's like the biggest liar. You've seen this scumbag before. I show you, you know, a lot of videos with him. So he comes out after all these horrible reports and he just tries to act like, well, actually we had 100,000 jobs we gained.

The only reasons you see these loss, he says, is government jobs were lost, illegal immigrants, we cut down on illegal immigrants, he said, and we've lost hospitality jobs because the World Cup is over now. Really? That's you. You expect us to believe this crap? Here, play this clip.

Jobs number is out for July. Employers are cutting 23,000 jobs last night. That's well below the number we were expecting to add, about 80,000. Unemployment rate did drop lower, 4.1%. Let's get a take on that now from the White House. Kevin Hassett, National Economic Council Director. Sir, good day to you and thank you for coming back here. Great to be here. Just give me a How do you read it? Strength, weakness.

Go.

Yeah. So the strength is what we've seen before— construction workers, manufacturing workers and so on. The weakness in this number were really just two things: government workers and a sort of rebound from all the employment we got from the World Cup because the World Cup was ending. And so if you throw out the World Cup and the government workers, we actually had a number that was about 100,000, which is about what we—

as I noted at the outset, more posts from Donald Trump 12 hours ago, 2 hours ago. He's posting this repeatedly. A must-read: Donald Trump won the war in Iran. So that's where we're at. Do you realize how embarrassing this is for our country? I mean, think about what Iran thinks when they see Donald Trump post things like that. Trump won the Iran war. What do you think China thinks? What do you think Putin thinks? What do you think Kim Jong-un thinks? What do you think Xi Jinping of China thinks? I'll tell you what MBS in Saudi Arabia thinks. Saudi Arabia just entered into a military alliance with Turkey. They already had one with Pakistan, and they announced any strike on Saudi Arabia is a strike on Turkey and Pakistan in order to try to deter the Houthis, because the Saudis believe they were protected by the US security umbrella, which doesn't exist anymore. So now they need Turkey's help and Pakistan's help in order to try to stave off a Houthi attack within Saudi Arabia. People view the US as so utterly weak and unreliable. I mean, what do you even think the European Central Bank thinks when Treasury Secretary Bessant unloaded all of these euros in order to prop up the Japanese yen without even telling the European Central Bank bank.

But just think, the US screwed over the European Central Bank, sold all of these euros to fund billions of dollars to prop up the Japanese yen, to prevent the Japanese from selling American treasuries, um, so that the yen doesn't fully collapse. It's like the craziest Ponzi scheme, and everybody sees it, and our corporate news is like, oh, oh, it's Goldilocks, it's just right, it's Goldilocks. Pete Hegseth, the Secretary of Defense who couldn't even run a small veterans nonprofit group without mismanaging it, and now he's in charge of the Defense Department and he calls it the Department of War. He posts, Trump won the Iran War. It's so damn pathetic. It's so damn pathetic. Trump gave an interview with Punchbowl. That's a news entity that covers Capitol Hill. And Donald Trump's main point on this Punchbowl interview data centers in everybody's backyard, that we need to put a data center right in your backyard, right in your community. It's liquid gold. If you want to be rich, Trump says, listen to him, you better have a data center. It means lower taxes for you. It means better quality of life. You need a data center in your backyard.

As Donald Trump is invested in all of these data center and data center adjacent companies, he's such a sick, vile piece of, you know what I'm gonna say, trash. Play this clip.

Data centers going. So if I were a governor, I would want data centers so badly, I'll cut taxes. I mean, taxes are going to go way down because this is a tremendous source of income.

Two more quick questions.

We can't let China beat us at this. You know, a lot of people think that the, the campaign that's being put on is being paid for by China. A lot of people—

and you—

we have President Xi coming here in a couple of weeks. And we're going to have a great time, but I've got to talk to someone about it. But I don't blame them. We do things and they do things. But a lot of people think that because they are losing to us in AI.

One of the more on Donald Trump saying data centers need to be put everywhere. Let's play this clip.

I saw Texas the other day sort of is against data centers. I think it's a mistake. And I'm not taking positions or I'm just thinking it's a mistake. Because there are other communities that want it. When a community wants it, it means a lot of money is going to come into that community.

Unsightly, potentially.

Well, I don't think they're unsightly. I mean, I'm looking at some of these data centers, the most incredible buildings I've ever seen. They go for 2.5, 3 miles. They're 3 miles by 3 miles.

They're necessary for the technology.

They are tremendously important for the economics. I mean, it's— this is— for Texas to say no to data centers is mistake in the sense that it could be bigger than oil. I mean, data centers could be bigger than oil. You have the Texas oil, and there are a lot of communities that want to put—

And then Trump was asked a question about all of his stock trades, enriching himself to billions of dollars, giving himself tax immunity. And Trump's like, I don't know any of that. My, my little, my little boys handled that. My little kids. You know how he treats Eric and Don Jr. like there's some like little children running around? These are grown adults who are clearly involved, in my opinion, in these various machinations and schemes with Donald Trump. They're good kids. They're good kids. If Donald Trump says they're good kids, we know that these are the worst, most vile, sick things, and they carry the sickest, most disgusting last name imaginable that will go down in history to be the most despicable, stained word imaginable. Trump. Here, play this clip.

But they want to do a bill and in the bill they want me to be different than everybody else on the—

So you're against that, it would sound like.

Well, I don't mind putting it in a blind trust. I don't run my stuff anyway. I let my kids run it. But, and I never even talked, I never talked to them about things. If they want to go into it, you know, they're not involved in government. I don't talk to 'em about government. I don't talk to 'em about much other than to say, I love you kids. You know, they're good kids. But we don't want to see China take over crypto. I don't want to see China win with AI.

Now I found this notable as well. This didn't get a lot of attention, that Trump will be hosting mining CEOs as the regime seeks minerals for defense supply chains. They're doing a mining CEO meeting right now. That's what they're doing, mining CEOs. While the American people are in a jobs recession, the mining CEOs are coming to town and the regime media says that we're in a Goldilocks economy and things could not be any better right now. Let me show you this clip of Trump before I get into this article where he says the economy— he should get a 150% mark, that the economy is not just 100%, it's 150% good. Here, let me just play this and then I'll go into the mining CEOs. Here, play this clip.

Yeah, and it's because of me. Uh, Biden was against all this. I don't think Biden had any idea what, what it was. What it was. But our country right now is doing better than it's ever done. You know, when I see polls on the economy, I should have 150%, not 100%. Oh yeah. Because we have the greatest, this is the golden age of America. What's being built now in this country has never ever been built. And we are literally in the golden age of America.

You know what's notable though, when I looked at this mining CEO article in Ground News, And it's being mostly covered on the right. And by the way, this is one of the reasons that I use Ground News, and it's a research tool that I use every morning when I prepare these videos. And, uh, they're probably the best tool I use to help me stay objective in my reporting. You see, Ground News is an app and a website that pulls in thousands of articles from around the world. It organizes them by story to show you how the left, center, and right are framing the story differently. It shows you if corporate conglomerates are behind the story, if independent media is behind the story. It lets you compare reporting on the same issue in one place from different sources so you can draw your own conclusions. Like in the article I just shared with you, I was surprised there's no one on the left covering that these mining CEOs are heading to the White House at the same time Trump has just made our economy as like horrible as it's been with this horrific jobs recession taking place.

I think that deserve— I think that contrast deserves the right amount of attention. Ground News has this dedicated Blindspot feed. It's a personal favorite of mine, which highlights stories being disproportionately covered on either side of the political aisle. Look, I believe in Ground News so much and I use it so much. We're going to offer you 40% off the same Vantage plan that I use for my research. So just go click the link in the description or go to ground.news/mtn or scan the QR code up here. It's one of the biggest discounts they've ever offered. If you want to support this channel and get a clearer understanding of the world, try out Ground News. Go to ground.news/mtn or you can hit that QR code. Now in that same interview with Punchbowl, Donald Trump said Iran is begging to make a deal. They're begging to make it. But I thought you won, Donald. Haven't you been posting that you won? Here, play this clip.

Guys like that get in, they'll destroy this country.

You said yesterday— you spoke up, you just talked about Nevada. You said yesterday gas prices— correct me if I'm wrong— they might go up again a little bit.

You said no, no, that's only if I have to do another hit. Okay, so I mean, they'll only go down or if we make a deal. They want to make a deal. They want to make a deal. Look, it's obvious. They don't want to be hit, okay? They want to make a deal. So we'll see, because you're seeing—

and now Treasury Secretary Bessant is out there saying, you know what, we don't even need the Strait of Hormuz anymore. He says in just a few years, the Strait of Hormuz will just be another body of water. And I would say that more than 50 or 70% of the energy is now going through underground pipelines. So this is Again, this is how they surrender. This is how they change the goalposts, right? So now the Strait of Hormuz doesn't even matter, right? Because Iran and Oman are about to make a deal where Iran controls the strait. Now it's just another waterway. We don't even need it. It's irrelevant. It's irrelevant. Do you see how these con artists, these Bernie Madoff, these scammers act? Now we don't even need the Strait of Hormuz. It's just, it's just a body of water. We don't even need the Red Sea. It's just a body of water. We don't need any straits. The Strait of Gibraltar. We don't need any straits. Okay, we may have needed straights in the prior administration, but now we're beyond straights because we figured we all have a plan and, and don't actually look at the data which shows that jobs are being lost.

Let's just say we're in a Goldilocks economy and things are just right. Watch what this vile thing says here. Play this clip.

There's some who've speculated the straight will never go back to being the way it was before.

What would you say?

I, I would say I would take I think they're saying that in a doomsday sort of way. I would say it in another way. The Strait is never going back to the way it was because the Iranians have used or tried to use it as a choke point. What we are going to see over the next 2 years, the Strait's gonna become irrelevant. It is going to become just another body of water. And I would say that more than 50 or 70% The energy that moves through the strait now is gonna go through underground pipelines.

And then Bessin says his foot is on the throat of the people in Iran, and they're really struggling right now, and everybody's scared of us. Play this clip.

We're never gonna let 'em have a nuclear weapon. Right. They, we had Epic Fury, which was the kinetic portion. At Treasury, we did Economic Fury, What goes little publicized is, you know, on the kinetic side, Air Force is wiped out, Navy's wiped out, a big portion of their missiles, more importantly, their missile production. On the economic side, we have them by the throat, and they've got 150, 180% food inflation, not able to pay the troops. I think shortly, maybe even today, tomorrow, we are going to see, see an agreement, uh, 30, 60-day ceasefire, and, um, strait will be open. Energy prices should come down.

They're really scared of us. Okay, no wonder Saudi Arabia needs to make a deal with Turkey right now. They're really scared of us. No wonder the Wall Street Journal just reported that U.S. intel finds that Putin could test NATO's resolve with a limited incursion. And now it's believed that Putin is not afraid to strike NATO as he sees utter weakness in the US and that the US has depleted its interceptors and its ATACMS and the HIMARS. Yeah, you think they're scared of us? Uh, Besant, uh, despite international sanctions, North Korea just generated an estimated $22 billion in foreign revenue. Between 2022 and 2025 through arms sales and military support to Russia, as Kim Jong-un does ballistic missile, cruise missile, and other tests and brags about their nuclear arsenal on a daily basis. But you don't hear a peep from our corporate news about that. You don't hear a peep from Trump about it because they're weak. Because they're— but you'll hear about it here on the Midas Touch Network. That's what's going on right now. We'll keep you posted every step of the way. Hit subscribe. Let's get to 7 million subscribers. Also check out WTF America, the book I wrote with my brothers.

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