What a guy – is there anything he can’t do? Spooky action at a distance.
From Harris:
Vice President Kamala Harris’ campaign is blaming former President Trump for the latest negative jobs report — nearly a full term after he left office.
“Donald Trump failed Americans as president, costing our economy millions of jobs, and bringing us to the brink of recession,” Harris for President spokesperson James Singer said in a statement.
“Now, he’s promising even more damage with a Project 2025 agenda that will decimate the middle class and increase taxes on working families, while ripping away health care, raising prescription drug costs, and cutting Social Security and Medicare — all while making his billionaire donors richer.”
Notice how she sandwiches Project 2025 in there, although Trump has never had anything to do with it and has explicitly disavowed it as well. But lies are Kamala’s stock in trade.
Speaking of stocks and trades, we now have this:
Nearly everything on Wall Street is tumbling Monday as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.
The S&P 500 was down by 2.4% in midday trading and on track for its worst day since 2022. The Dow Jones industrial average was reeling by 864 points, or 2.2%, as of 11:40 a.m. Eastern, and the Nasdaq composite slid 2.7%.The drops were just the latest in a sell-off that swept the globe. Japan’s Nikkei 225 helped start Monday by plunging 12.4% for its worst day since the Black Monday crash of 1987.
It was the first chance for traders in Tokyo to react to Friday’s report showing U.S. employers slowed their hiring last month by much more than economists expected. That was the latest piece of data on the U.S. economy to come in weaker than expected, and it’s all raised fear that the Federal Reserve has pressed the brakes on the U.S. economy by too much for too long through high interest rates in hopes of stifling inflation.
The Fed might end up reversing itself on that, increasing inflation.
For many years, pundits on the right have joked about predictions concerning the economy, putting in their headlines “unexpectedly.” It’s a joke because the newspaper reports almost always use that word, which makes “experts” sound like liars or fools or both. Is their constant failure to predict such things the result of stupidity, wishful thinking, and/or the fact that they’re propagandists?
More:
The weak jobs data also triggered what is known as the “Sahm Rule,” seen by many as a historically accurate recession indicator.
“The July jobs report is being viewed as a recession warning, and the markets are responding accordingly,” said Bill Adams, chief economist at the Dallas-based Comerica Bank.
With the jobless rate unexpectedly rising, the so-called Sahm rule is now in play.
Unexpectedly.
Here’s what Trump had to say:
“Of course there is a massive market downturn. Kamala is even worse than Crooked Joe,” Trump, 78, wrote on social media Monday morning — after the Dow Jones Industrial Average plunged 1,000 points in morning trading after closing down more than 600 points on Friday.
“Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole. Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!” Trump added.