Today in Politics, Bulletin 183. 8/1/25

… Epstein victim Virginia Giuffre’s family is outraged that Trump just had Ghislaine Maxwell moved to a minimum security prison in TX after her meeting with his former criminal defense attorney Todd Blanche: “It is with horror and outrage that we object to the preferential treatment convicted sex trafficker Ghislaine Maxwell has received. Maxwell is a sexual predator who physically assaulted minor children on multiple occasions, and she should never be shown any leniency. Yet, without any notification to the Maxwell victims, the government overnight has moved Maxwell to a minimum security luxury prison in Texas.”

… “This is the justice system failing victims right before our eyes. The American public should be enraged by the preferential treatment being given to a pedophile and a criminally charged child sex offender. The Trump administration should not credit a word Maxwell says, as the government itself sought charges against Maxwell for being a serial liar. This move smacks of a cover up. The victims deserve better.”

… Bloomberg reported that senior officials at the FBI’s Record/Information Dissemination Section were told to redact Trump’s name out of the Epstein files after FOIA requests were made: “Michael Seidel, the section chief of RIDS who worked at the FBI for about 14 years, was quite vocal and pushed back on the directives. Then, a couple of months ago, Seidel was told he could either retire or be fired. He chose the former and quietly left the FBI.”

… “While reviewing the Epstein files, FBI personnel identified numerous references to Trump in the documents. Dozens of other high-profile public figures also appeared, the people said. In preparation for potential public release, the documents then went to a unit of FOIA officers who applied redactions. The people familiar with the matter said that Trump’s name, along with other high-profile individuals, was blacked out because he was a private citizen when the federal investigation of Epstein was launched in 2006.”

… Dismal employment news on Trump’s economy continues to get worse every month. The jobs report was issued today and it came in at only 73,000 jobs for July, which was well below estimates. To make things even worse, the June and May totals were revised sharply lower, down by a combined 258,000 from previously announced levels. The unemployment rate rose to 4.2%.”

… The June total came down from a previously reported 147,000, while the May count fell to just 19,000, revised down by 125,000.

… Naturally, Trump posted that the report was rigged: “In my opinion, today’s Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad. But the good news is, our Country is doing GREAT!”

… In a real Soviet/N. Korea style move, Trump then announced that he is firing the statisticians who compile the data to replace them with his own political hacks: “I was just informed that our Country’s ‘Jobs Numbers’ are being produced by a Biden Appointee, Dr. Erika McEntarfer, the Commissioner of Labor Statistics. We need accurate Jobs Numbers. I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY. She will be replaced with someone much more competent and qualified.”

… We will never be able to trust these numbers again.

… The head of the Bureau of Labor Statistics under Trump during his first admin, William Beach: The totally groundless firing of Dr. Erika McEntarfer, my successor as Commissioner of Labor Statistics at BLS, sets a dangerous precedent and undermines the statistical mission of the Bureau.

… Economist Ernie Tedeschi: “I've worked closely with Erika. I know of no economist who is more data-focused and devoted to truth in statistics. She never shied from speaking truth to power when the data were disappointing. Nothing would be worse for US credibility than political meddling in our economic data.”

… Tom Nichols, foreign policy writer for The Atlantic: “This is how the old Soviet Union managed its statistics: Make sure the people doing the statistics knew what was expected of them.”

“We are pleased to report from the new MAGA Patriotic Bureau of Labor Statistics that thanks to Leader Trump employment is up 10 million jobs for the month of August!”

… Trump then flew to Bedminster to play in the Senior Championship at his golf course this weekend. More on that later.

… Trump also blamed Fed Chair Powell, as I predicted he would do multiple times over the past few months as soon as he tanked the economy: “Jerome ‘Too Late’ Powell, a stubborn MORON, must substantially lower interest rates, NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”

… Jordan Weissmann with Yahoo Finance: “A president demanding lower interest rates in order to reduce the federal cost of borrowing, with no regard for inflation, is basically the textbook case for why central bank Independence is important.”

… Heather Long, chief economist at Navy Fed Credit Union, to CNBC: “This is a game changer jobs report. The labor market is deteriorating quickly.”

… Luke Tilly, chief economist at Wilmington Trust: “This is the slowdown that we’ve been expecting. Firms are facing a very different cost structure. They need to adapt to a new cost structure, which means holding off on hiring.”

… CNBC: “There were few signs of strength in the July jobs count, with gains coming primarily from health care, a sector that has continued to show strength in the post-Covid recovery. The group added 55,000 jobs, easily leading the way. Social assistance also contributed 18,000 jobs. The two sectors combined for some 94% of the job growth.”

… Bloomberg’s Joe Weisenthal: “Basically the only sectors of the US economy that are adding jobs are healthcare and social assistance. Here's your 73K jobs just in those two categories.”

… Financial editor James Surowiecki: “Trump took an economy that's fully integrated into the global economy, where many companies rely on imported parts to make their own products and many others sell imported products, and slapped a massive tax on all those companies. Of course that was going to slow hiring.”

… Democratic Strategist Max Burns: “Has there been another time in modern history where monthly employment numbers have been miscalculated by 90%? Upwards? It's hard not to read an intent to deceive into such a massive, and repeated, miss.”

… Journalist Jamie Dupree: “May-June-July is the weakest 3-month period of job growth since COVID. If you throw out 2020, it's the weakest 3-month period since 2010 and the aftermath of the Great Recession.”

… Sen. Chris Murphy (D-CT): “Unsurprising bad jobs report. Just 73,000 added in July, and most of those were health care. Even worse, May and June jobs numbers revised down by 258,000. Awful. Companies don't want to create jobs in Trump's chaos economy with weakening rule of law and rampant corruption.”

… Trade policy analyst Jacob Jensen: “Let’s see what industries were most impacted by May and June revisions. Adjusting for each industry’s total employment, the largest downward revisions were: - Government - Construction - Retail Trade - Transportation/Warehousing - Durable Goods. This could have something to do with tariffs as nearly each of the above relate to trade.”

… “The household survey, which is used to compile the unemployment rate, was even worse than the establishment survey of total payrolls gains. That showed a decline of 260,000 workers, with the participation rate edging down to 62.2%, the lowest since Nov 2022. A more encompassing unemployment indicator that includes discouraged workers and those holding part-time positions for economic reasons rose to 7.9%, its highest since March.”

… Bloomberg: “In addition, long-term unemployment heated up. Average weeks unemployed jumped to 24.1, the highest level since April 2022, while the level of those out of work for more than 27 weeks to 1.82 million, the most since December 2021 and about one-quarter of all the unemployed.”

… Ger Doyle, North America regional president at Manpower Group: “Today’s report adds weight to signs of a slow but persistent cooling trend. While the labor market is not in crisis, hiring momentum continues to soften, and pressures are beginning to build.”

… Fox Business commentator reacting to the jobs report on air: "This was a very weak report. The revisions certainly to May and June are very concerning. I'm surprised that unemployment is just at 4.2%. We do see a softening jobs market. I'm concerned about the labor market."

… Bloomberg: “US factory activity contracted in July at the fastest pace in 9 months, dragged down by a faster decline in employment as orders continued to shrink. The Institute for Supply Management’s manufacturing index decreased 1 point last month to 48. The gauge has been below 50, which indicates contraction, for 5 straight months, suggesting producers are stepping up efforts to control costs amid higher tariffs and softer demand. Govt figures this week showed sluggish consumer spending and business investment in the first half of the year.”

… In the midst of all this wonderful news, Trump announced big new tariffs on these countries which took effect today: Afghanistan 15% Algeria 30% Angola 15% Bangladesh 20% Bolivia 15% Bosnia and Herzegovina 30% Botswana 15% Brazil 10% Brunei 25% Cambodia 19% Cameroon 15% Chad 15% Costa Rica 15% Côte d`Ivoire 15% Democratic Republic of Congo 15% Ecuador 15% Equatorial Guinea 15% Falkland Islands10% Fiji 15% Ghana 15% Guyana 15% Iceland 15% India 25% Indonesia 19% Iraq 35% Israel 15% Japan 15% Jordan 15% Kazakhstan 25% Laos 40% Lesotho 15% Libya 30% Liechtenstein 15% Madagascar 15% Malawi 15% Malaysia 19% Mauritius 15% Moldova 25% Mozambique 15% Myanmar (Burma) 40% Namibia 15% Nauru 15% New Zealand 15% Nicaragua 18% Nigeria 15% North Macedonia 15% Norway 15% Pakistan 19% Papua New Guinea 15% Philippines 19% Serbia 35% South Africa 30% South Korea 15% Sri Lanka 20% Switzerland 39% Syria 41% Taiwan 20% Thailand 19% Trinidad and Tobago 15% Tunisia 25% Turkey 15% Uganda 15% United Kingdom 10% Vanuatu 15% Venezuela 15% Vietnam 20% Zambia 15% Zimbabwe 15%.

… Economist Justin Wolfers: “The government employs thousands of data analysts, our statistical agencies collect millions of data points, conference rooms full of trade economists spend decades studying how to make sense of it all, and he's inside the residence scribbling numbers with a sharpie, isn't he?”

… Trump’s Trade Rep. Jamieson Greer on Fox Business: "These are the highest level of tariffs that we've seen. And this is a great deal for the country. The president’s view is maybe just imposing a tariff is better than a trade deal."

… Host Maria Bartiromo: How many more trade deals should we expect by the end of the year? Greer: “It depends on the president. As the president puts it, a tariff is a deal.”

… CNBC: “Switzerland is officially on holiday Friday for the country’s national day. But many market watchers have been hauled back to their desks by news overnight that they have been hit with a 39% tariff rate by the WH. That came as a shock to the Alpine nation. That is hugely significant, with the US accounting for around a sixth of Switzerland’s total exports.”

… Stefan Brupbacher, Director of the Swiss Federal Council: “I am stunned. These tariffs are based on no rational basis and are arbitrary. This decision puts tens of thousands of jobs in the industry at risk.”

… Beat Wittmann, chairman of Porta Advisors: “The US leads a zigzagging unilateral war on tariffs and this unpredictability imposes a rising risk premium on financial assets. This will lead to a weakening of the Swiss economy, the Swiss Franc and the Swiss equity market, particularly the all-important export sector.”

… CNN asked Trump’s Chair of Economic Advisors Stephen Miran about an auto parts maker in Detroit that just had to layoff 100 workers and specifically blamed tariffs. Miran: “It's always convenient to blame political changes when your business fails.”

… Sen. Tim Kaine (D-VA) on MSNBC: "We have a trade SURPLUS with Brazil, but President Trump has announced a 50% tariff. Why? Because they don't like the fact that Brazil is prosecuting a friend of his for corruption and an attempt to overturn the election. And he's using an emergency power to do it. How is it an emergency for America when Brazil tries to prosecute a corrupt official."

… OK Schools Chief Ryan Walters, currently embroiled in controversy over getting busted with porn on his screen at work, will now require teachers to take a MAGA Exam to get certified. Fox: “OK will be the first state to require teachers from liberal-leaning states to take a test to show they align with OK’s curriculum standards. Walters said the state is working with conservative think tank PragerU on developing the test for teachers.”

… “The ‘America First’ Test will include basic questions about American history, civics, and ‘common sense.’” Walters: “If you are a teacher coming to Oklahoma from woke states, you will NOT be indoctrinating our kids with a liberal agenda. In Oklahoma, we are proud to have America First values.”

I did my best to keep up with everything today but it was an insane news day with lots of twists and turns. No breaks today from 6AM-6PM to make this one happen. I’m looking forward to day off tomorrow where it supposed to be 74 and sunny here. Heading to Old Orchard Beach which has been hit hard by the Canadian tourism boycott (which I understand), so we are going to support some of the family-owned local businesses.

Next Bulletin will be my big weekend recap on Sunday night. If you missed yesterday’s Bulletin, you can find it here.

… Daily Mail: “Canada is quietly siphoning off America's most essential workers - and experts warn it could deal a catastrophic blow to an already crumbling US healthcare system. Canada is aggressively poaching doctors, nurses and health professionals, offering simpler systems, universal care and a political climate many in the liberal-leaning field may prefer to life under Trump. The exodus is accelerating at a stunning pace. Between Nov 2024-April 2025, the Medical Council of Canada saw a staggering