OMFG trump’s crashing out

just saw Peter Navaro get interviewed on

Bloomberg as to why why would the BLS

fail so miserably in their jobs report.

Is it because they're being political or

do they just suck at their jobs? In this

video, I'm going to give you a breakdown

of what nobody's actually telling you

about why these numbers suck as much as

they do. Jack, where are we going, by

the way?

>> We're going to Japan. That's right, cuz

we're sick of trying to this crap. We're

getting out of here. But remember, never

forget, release the files. Expires

tonight at 11:59. Meet Kevin. Get

lifetime access. Meet Kevin.com. Get the

course. Okay, so listen. Here's what's

going on. So Peter Navaro gets on

Bloomberg and tells us, look, the BLS

chief had to be fired by Donald Trump,

which is totally like a classic

dictatory move, but it's okay. You know,

I'm not trying to be like anti-MAGA

here. I'm trying to get everybody to

piss me off. That's my goal. Okay,

that's why I said that. I did it on

purpose so you could get mad at me. The

Supreme Court basically gave him a

license to do that. So in fairness, the

Supreme Court's like, "Yo, bro, if you

don't like the heads of your, you know,

agencies, you have the right to fire

them. Just don't touch the Federal

Reserve because if you touch the head of

the Federal Reserve, you were touching a

quasi governmental unique governmentish

agency that you should not be touching."

The Supreme Court was very specific

about that. Now, this is where a lot of

people get into like, why are we paying

for the Federal Reserve? Usually, the

Federal Reserve actually pays us when

they pay out like zero on their deposits

uh and they hold treasuries that earn

yield and they just give all that extra

profit back to the United States. Things

have reversed now because we're paying

out on money markets essentially, right?

Zero uh zero risk money markets at four

and a half. we're paying out way more

than you might earn on certain

treasuries which might only be yielding

like 39 on a two-year, right? So that's

where the Fed loses money. Anyway,

that's really beside the point. What

what really matters here is what is

Peter Navaro saying and what is he

missing? So what Peter Navaro is doing

is he's saying look the Bureau of Labor

Statistics obviously sucks because

either and this is why Donald Trump not

only is eligible to fire the head of the

BLS because of the Supreme Court

standard uh and ruling, but also because

of the two factors. Number one, they

either suck at doing their job because

they're politically manipulating the

data to try to make Donald Trump look

bad. Donald Trump prefers that argument.

Or number two, they are just incompetent

and fail at collecting data. So why do

you need more context to this? Because

obviously politically that's a very easy

thing to say. Oh, this is either uh

designed to be political or these people

just suck. Okay. Well, what if it's

neither of those? Is that possible? Yes,

it actually is. The reason it's possible

is the following.

When the Bureau of Labor Statistics

releases labor reports, they generally

release job reports on the first Friday

of a month. In this case, it was

literally August 1st, which means they

are really only reporting realistically

data that they've collected for the

first 3 weeks of July. And the reality

is Americans are really bad at turning

in these labor surveys or picking up the

phone to answer the phone calls from the

surveyors who conduct surveys on either

employers via the payroll survey, the

establishment survey, or the household

survey where they call people at their

homes, right? problem is when that rate

plummets to like a 30% response rate,

you get really big holes in the data.

And 6 weeks later when people call you

and go, "Oh, hey, yeah, I know you

reached out for information about what

happened in June. Sorry I got busy in

life and I didn't get back to you for,

you know, six extra weeks. Here's what

actually happened at our business or

here's how many jobs I have." Then they

have the concrete data that finally

trickled in and they're like, "Oh, all

right." Then you have your first set of

revisions, but then you still don't have

a 100% response rate. So you use new

data that comes in over time as well as

making revisions every quarter for that

black hole of data you have to try to

understand, oh, okay, what's actually

going on in the labor market? Guess how

many people who get deported answer the

phone call from the Bureau of Labor

Statistics? Like zero. So all of these

things have to get filled in with

adjustments. And these adjustments are

really hard. Now look, I'm not here to

shill for the Bureau of Labor

Statistics, but let's just make this

like hands down as simple as possible.

collecting data and giving you jobs data

on the country

uh at at the moment of uh uh you know

the first Friday of the very next month

is insane. This is why ADP volatility

the private survey which they literally

use payrolls data because they're a

payroll processing company

even they can't get it straight. They

make revisions and even they have insane

volatility. So when you put all of that

together, it's the private companies

have trouble doing this. So what you're

asking of these entities is actually

really hard. But nobody gives a flying

hoodie about any of that. All people

care about is Democrats are going to go,

"Ah, see it's maggot policies back at it

again." These planes are so sick coming

in. They're so big, man. I love

>> two story. I love the big pee pees.

>> Hey yo,

>> I guess it's not technically a private

plane. Anyway, so um Lauren's getting

anxious. She's got that anxious look. We

should get going. Let's let's get going.

Uh so then, uh okay, then you got the

MAGA folks that are like, "Oh, this is

just the Biden economy. They're

purposefully trying to screw us." The

data is always volatile. And guess when

it is most volatile, when it is painful

to report payrolls data, when you're

losing your job or you're an employer

and you're having to fire people, that's

when you least want to report data.

That's when you least want to answer the

phone. That's when you least want to

report to these or respond to these

surveys because you're like, I I don't

have time for this. I've got I've got to

just make ends meet, right? That's what

it comes down to. So, we got to go.

Yeah. Here, take mine. You need

passports, too? Oh, yeah. Here you go. I

understand. Would you mind taking that

and then take this as well? Jack, hold

on a second. Let me finish my video. All

right, there you go. All the Okay, cool.

So, um,

what does this mean? Like, what's the

bottom line takeaway for all of this?

Well, you have to also remember what

just happened. We just had somebody who

quit at the Federal Reserve, Cougler.

She was a Biden appointee. She was a

voting member at the Fed. I think she

was probably pressured out. Donald Trump

doesn't like people telling him the

reality of what's happening in the world

if unless it aligns with exactly what he

wants. This means expect more

volatility. Now, best case scenario, we

keep people like JPO and independent

people as long as possible who at least

have some coonas to fight back a little

bit so at least we can get somewhat of

neutral data. Hopefully. Hopefully.

Everybody's got bias, right? Let's just

be real about that. My biggest fear is

what happens when we get two years down

the road and let's say we're in a deep

recession or whatever and everybody's

been replaced with knee benders. How are

we ever going to trust the comeback?

Right? That's the hardest part. And

that's why we try to get politics out of

data. It's why we try to get politics

out of the Fed so that yes, when you go

through the normal phase of the business

cycle, at least when you're on the

comeback, you can trust it. You could

believe in it. these kind of

appointments or firings or whatever make

that harder. Now, I don't know the head

of the BLS, so who knows? Maybe they

screwed up. And frankly, the data has

been all freaking over the place. Again,

it makes sense when the data is most

critical, when it is most important to

get the most accurate data. We get the

lowest survey responses and the least

accurate data. And I'll tell you,

there's only one thing that we can

guarantee. Number one, you could

subscribe to this guy. What's What's

your channel name?

>> Meet Jack.

>> Meet Jack. And you could use coupon code

release the files before 11:59 tonight.

>> Also, you should call it a plane plane.

Like it's just like a regular plane.

Like a plane.

>> A plane plane. OP. P. Yeah. Plane plane.

>> But do you get it? Like it's not just

like the plane like the aircraft like

one's the plane that's the aircraft and

one's like just like a plane.

>> Oh, it's generic. Like if like a plain

white vanilla plane.

>> Wow. You got anything to say?

>> Nope.

>> Comment the video. Oh, she's ducking.

She's ducking away. But look at that

beautiful hair.

Get off.