The gaslighting from the liars on Fox trying to deflect the damage Trump is doing to the economy onto Biden continues. We’ve watched this nonsense from Newt Gingrich, Larry Kudlow and countless others, and this Friday it was Maria Bartiromo and Charles Payne’s turn.
As Mediaite reported, this was just ahead of the jobs report they knew was going to be awful being released during a week where Trump already tanked the stock market with his idiotic trade war and wobbling threats on tariffs.
CHARLES PAYNE: We are already in a labor crisis and we don’t see it on the front end. You won’t see it on Thursdays initial jobless claims. You see it through attrition. People are leaving work and no one is being hired. And that’s what ADP also backed up.
Also, hours work hours are getting longer and wage growth is getting slower. That’s where the labor crisis is going to show up. And that’s where it’s going to start to hurt us.And I think already the street’s looking at three rate cuts this year. Maybe [Jay] Powell says something that makes him think that could be the more. Between the jobs report and Powell’s comments. We could even see even more, because that’s going to be one of the things that pulls this market out of out of a tailspin.
MARIA BARTIROMO: Yeah, but if you’re expecting three rate cuts that look, if we get three rate cuts by the fed, that means you’re talking about a dire financial situation. You’re talking about recession! Three rate cuts– recession!
CHARLES PAYNE: Right now with with just 10% of the population buying 50% of the goods and all of the so-called excess cash. Long gone from the bottom bottom, you know, 75% of this country, most people are already in a recession. Most people have been in a recession. And when I went to the polls in November, they were in a recession.
So a lot of this stuff doesn’t show up in official data. Almost every economic data point that we use needs to be rejiggered. And relooked at.
The GDP number that do you why why do we even talk about U3 when we should be looking at the U6 employment number? Almost everything that we use to measure our economy is so way off that there’s a massive disconnect between Wall Street economists and Main Street, and that’s why you get the things that we got in November.
MARIA BARTIROMO: All right. We’ll see if Joe Biden’s recession shows up.
