【Boss Economics World】How Trump & The Fed Are Lying To You About The Economy

welcome ladies and gentlemen to Boss Economics World where we cut through the government spin the Wall Street fluff and the feds fairy tales to bring you the raw unfiltered truth about what's really happening in the economy I'm your host the no nonsense number crunching policy bashing voice of reason here to expose the economic dumpster fire that our so called leaders have ignited buckle up because today we're diving headfirst into the latest jobs report from June 2025 a report so riddled with smoke and mirrors it might as well have been written by a magician let's roll oh look the headlines are screaming US Job Growth Smashes Expectations in June 2025 payrolls up 147,000 unemployment down to 4.1% and the stock market doing backflips like it just won the lottery sounds like a party right wrong folks this is what we at Boss Economics World call lipstick on a pig dig a little deeper and you'll see this jobs report is a masterclass in government sleight of hand propped up by temporary public sector gimmicks while the private sector the real engine of the economy is sputtering like a beat up old jalopy on its last fumes let's break this down point by point surface to core and expose the economic rot that the government and their cronies at the Fed are desperately trying to hide by the end of this you'll see why this so called economic recovery is nothing but a house of cards teetering on the edge of collapse all thanks to the mismanagement incompetence and outright recklessness of our dear leaders in Washington first up let's talk about the big shiny number driving this report 147 thousand new jobs sounds impressive right but here's the kicker nearly half of those jobs folks came from state and local government payroll's particularly in public education according to the Bureau of Labor Statistics BLS state government payroll surged by the most since early 2023 with local governments following suit wow talk about a convenient boost just in time to juice up the headlines but hold on a sec several economists including the sharp minds at Pantheon Macroeconomics are calling foul they're pointing to seasonal adjustment issues as the likely culprit behind this public sector hiring spree translation these numbers are probably inflated folks public education jobs come on we all know those are often temporary seasonal or part time gigs tied to academic calendars not exactly the kind of stable long term employment that signals a booming economy and here's the real debt punch while the government is busy patting the stats with public sector fluff private payroll's the true measure of economic health grew by a measly 74,000 the weakest since October 2024 that's less than half the headline number healthcare was the only bright spot adding 59,000 jobs but even that was the smallest gain in four months meanwhile manufacturing wholesale trade and business services all lost jobs folks this isn't job growth this is a private sector on life support with the government desperately pumping in artificial oxygen to keep the patient alive now let's zoom out and look at the bigger picture why is private sector hiring so anaemic oh I don't know maybe it has something to do with President Donald Trump's erratic bullish China shop trade policies you know the ones where he slaps tariffs on everything from Chinese semiconductors to Canadian lumber then tweets about it at 3 a m like a teenager hyped up on energy drinks according to Samuel Toombs chief US economist at Pantheon Macroeconomics the tariff tax hike restrictive monetary policy and worries about a further intensification of the trade war are weighing heavily on labor demand let's get real here folks tariffs are taxes plain and simple and who pays them not China not Mexico not Canada you do American businesses workers and consumers are the ones getting squeezed just look at the data the US trade deficit widened in may 2025 according to a separate BLS report after a record plunge in imports the prior month why because businesses are scaling back hoarding cash and bracing for the next round of Trump's trade war roulette and when businesses hunker down they don't hire they freeze hence the pathetic 74,000 private sector jobs added in June oh and let's not forget the uncertainty around Trump's signature tax legislation which is still languishing in Congress businesses hate uncertainty folks they're not going to ramp up hiring when they don't even know what their tax Bill will look like next year or whether they'll get slapped with another 25 percent tariff on their supply chain this is economic mismanagement 101 courtesy of the Trump administration now let's turn our sights on the Federal Reserve the grand wizards of monetary policy who seem to think watching paint dry is a viable strategy for managing a slowing economy Fed Chair Jerome Powell in his infinite wisdom told lawmakers that there's no rush to cut interest rates until there's more clarity on how tariffs are affecting inflation really Jerome no rush tell that to the millions of Americans who are seeing their job prospects dry up their wages stagnate and their cost of living soar here's the deal folks the feds restrictive monetary policy keeping interest rates elevated is like pouring concrete on an already sluggish economy high borrowing costs discourage businesses from investing hiring and expanding and guess what the jobs report proves it average hourly earnings grew by just 0.2% month over month in June 2025 and 3.7% year over year the weakest annual gain since July 2024 the workweek shrank to signaling that employers are cutting hours not adding jobs this is what happens when the Fed sits on its hands pretending everything's fine while the labor market cools faster than a popsicle in a deep freezer and don't let the stock markets reaction fool you Treasury yields rose and the SNP 500 climbed after the jobs report supposedly because it took pressure off the Fed to cut rates oh please the stock market isn't the economy folks it's a casino for Wall Street fat cats fueled by cheap debt and speculative bubbles meanwhile Main Street is getting crushed and the Fed is too busy naval gazing to notice but wait there's more let's talk about the Trump administration's latest brainchild what he's calling the largest mass deportation of undocumented immigrants in history sounds like a great plan right wrong this isn't just a humanitarian crisis in the making it's an economic catastrophe waiting to happen why because foreign born workers have been a major driver of US job growth in recent years according to Thursday's BLS data the size of the foreign born labor force declined for the third straight month in June 2025 hitting the lowest level this year over the past three months the foreign born labor force has shrunk by the most since 2007 outside of the pandemic let's connect the dots folks undocumented immigrants aren't just taking jobs they're filling critical labor shortages in industries like agriculture construction and hospitality kick them out and you don't just lose workers you lose consumers taxpayers and economic activity The Congressional Budget Office CBO estimated in 2024 that immigrants both legal and undocumented contributed 11 trillion dollars to US GDP annually deporting millions of them that's like taking a sledgehammer to the economy's foundation all for the sake of a political stunt and who's going to feel the pain small businesses rural communities and you guessed it the average American worker oh and let's not forget the cherry on top of this economic dumpster fire inequality the jobs report showed the unemployment rate for black Americans spiked to 68 percent in June 2025 the highest since early 2022 compare that to the overall unemployment rate of 41 percent and you've got a glaring racial disparity that the government is doing nothing to address this isn't just a statistic folks it's a crisis black workers are disproportionately stuck in low wage precarious jobs and when the economy slows they're the first to get hit meanwhile the Trump administration is too busy slapping tariffs and deporting workers to care about policies that could actually help like targeted job training programs or infrastructure investments so let's tie this all together folks what does this jobs report really tell us it tells us the economy is slowing the private sector is stalling and the government is papering over the cracks with public sector gimmicks it tells us that Trump's trade wars deportation fantasies and tax policy limbo are killing business confidence and labor demand it tells us the Fed is asleep at the wheel refusing to cut rates even as warning signs like surging jobless claims and a shrinking labor force participation rate flash red and it tells us that inequality is getting worse with marginalized communities bearing the brunt of this economic mess here's the ugly truth folks we're on the brink of a recession and it's not if but when the Conference Board's consumer confidence survey shows the gap between people saying jobs are plentiful versus hard to get is the smallest since March 2021 recurring jobless claims are at their highest since late 2021 and let's not forget the yield curve inversion a classic recession predictor that flashed again in early 2025 according to Bloomberg data all the signs are there but the government is too busy playing politics to do anything about it here at Boss Economics World we don't sugarcoat the truth this economy is a mess and it's a mess because of the clowns running the show in Washington Trump's trade tantrums deportation disasters and legislative gridlock are strangling the private sector the feds refusal to act is pouring fuel on the fire and the result a labor market on life support wages stagnating and inequality soaring all while the government tries to fool us with puffed up public sector stats so what's the fix first ditch the tariffs and stop treating trade policy like a reality TV show second scrap the deportation madness and embrace sensible immigration reform that fills labor shortages without demonizing workers third get the Fed off its high horse and cut rates before the economy tanks and finally invest in real job creation think infrastructure green energy and targeted training programs not temporary public sector fluff but hey don't hold your breath folks as long as these jokers are in charge we're stuck on this economic roller coaster and the only direction is down that's all for today folks if you're as fed up with this economic nonsense as I am smash that like button hit subscribe and share this video with everyone you know let's send a message to Washington we're not buying your spin anymore until next time this is boss economics world keeping it real keeping it raw and always fighting for the little guy peace out