Back to episode — Episode 2948 CWSA 09/04/25
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just heard horrible things and it was every day and it was continuous and lots of people were involved. Now one of the things preventing any of them from naming names might be that they'd all signed settlements in court because there was some large amount of money for settlements. And they're just not allowed to talk about it without risking losing whatever substantial money they got. And so that…
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Exactly. So this is Axelrod with good advice for his team, which is you need to stop acting like you're pro-crime. You know that's my version of it. But his version is why don't you act a little bit more like you're legitimately anti-crime, if I could paraphrase it.
I would give you the additional advice. Here's my advice. Don't join any group that needs that kind of advice. Don't ever join a group that needs to be advised to not take the side of the criminals. That's the best advice you'll ever get.
Well, there's a whole bunch of employment and job numbers coming out and they don't look so hot. They're not terrible, but they're moving in the wrong direction. Don't know if that's because all our numbers are bad and nothing's reliable or because, I don't know, weather sometimes. Maybe because of the threat of tariffs. So it might be temporary. I don't know.
But for the first time the unemployed workers outnumber the number of jobs since 2021. But you know 2021 wasn't that long ago. So *The Hill* was reporting that. And then the open jobs fell down a little bit but I don't know that our numbers are that accurate. We can tell that things move a little bit.
And yeah, so anyway, then jobless claims were up to 237,000. They thought it would only be 230,000. So that's a little bit worse. So all the job stuff is a little softer. And some of the oil companies have announced that they're cutting. ConocoPhillips might cut 20 to 25%. But that's coming off a few high years because oil was expensive and therefore they had big profits during the original Ukraine situation, but things have settled down there. They had a couple other oil companies looking to make pretty big employment cuts.
But if you put it all together, because the economy is a weird thing and not as predictable as common sense tells you it should be, that might be the reason that the interest rates get cut because generally if employment is looking bad and inflation is somewhat under control, that's when you get the rate cuts. And when you get the rate cuts, that's really good for the economy and really good for the stock market. So bad jobs report equals weirdly maybe things are going to speed up in the next few months.
And the *Washington Examiner* says that the Trump economy has raised optimism to a fou
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r-year high. So it's still not more than 50% but 44% now, which is much higher than it used to be. Think things are on the right track. So as I often remind you, the economy is based on expectations and resources. We usually can find ways to get the resources in today's world. So the expectations are what are kind of dominant. And when people think things are going in the right direction, then th…
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