Back to episode — Episode 2917 CWSA 08/04/25
Context —
off a bunch of his accomplishments. "But this dope Charlamagne would vote for Sleepy Joe or Kamala. Remember one year ago our country was dead. Now it's the hottest country anywhere in the world. MAGA." Do you remember back before you were completely accustomed to the way Trump is, if he had done something like this, like spent an hour of his weekend coming up with a bunch of insults for one rand…
← Previous segment →ate that at some point you'll say see I told you that these tariffs would cause a problem, but then we will later find out that that was temporary and that maybe it wasn't caused by tariffs at all.
So expect some up and downs in the economy and people are going to blame the tariffs or not blame the tariffs and nobody knows because economics is just guessing.
Well, the head of the BLS, which would be the Bureau of Labor Statistics, the commissioner of that is the one who got fired for revising the employment numbers on the jobs report from really looking good to almost nothing. And the revisions were not just small changes. The revisions were like from a six-digit number to a five-digit number. I mean these are really big, just ridiculously big revisions.
Now, so Trump fired the BLS commissioner and he's getting a lot of pushback. People like Larry Summers. I just saw him appear. Larry Summers. And poor guy. He doesn't look like things are going well for him. I don't know if he's got a health problem or what, but he doesn't look good. And he was pointing out, Larry Summers is no friend of President Trump, was pointing out that this is exactly the kind of authoritarian stuff that authoritarians do when they're being all authoritarian.
Now, it's a good point. Sorry, I got some kind of a cold or something. It's a good point. How many of you thought you were going to have a perfectly normal day only to learn that the commissioner of the BLS, a thing which we don't remember what it is or I don't, got fired. Oh, how can you live in such an authoritarian country when the person whose name I don't remember was fired from the organization I'd never heard of? That's so authoritarian. I don't know how we can survive that.
But here's my take. My understanding is that the person putting together the numbers was a let's say a captive to the process and the process was something like we don't have all the right numbers so we're just going to guess for the numbers we don't have updated. Apparently it's just something like that. And then as the actual numbers do come in, then they replace their wild ass guesses with actual numbers. And sometimes it's so wildly different that it looks like you couldn't possibly have designed a system to do this intentionally, but it's designed in a way that it's kind of guaranteed that that's going to happen.
Now, I do agree with firing
Context —
that person because here's what that person should have done. Here are the numbers, but they're preliminary and they're only accurate to within like a thousand percent. Which means you would understand they're useless. Now if you were the boss, you'd say, "Hey, wait a minute. You're acting like your organization is terrible." Because if that's your best estimate is within a thousand percent of bei…
Next segment → →