4.8 • 965 Ratings
🗓️ 6 August 2025
⏱️ 4 minutes
🧾️ Download transcript
Let's talk about Trump picking a replacement for Labor Stats....
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0:00.0 | Well, howdy there, Internet people, it's Bell again. So today, we're going to talk about |
0:08.2 | Trump picking a replacement for labor stats. So we got an interesting question that's worth |
0:14.9 | talking about, even though there isn't a clear answer. It's worth talking about because it gives us a little glimpse of the |
0:22.6 | trouble that Trump's desire to fire the calculator has already caused. If you missed it, |
0:29.3 | the Bureau of Labor Statistics released a jobs report, and it wasn't as rosy as Trump wanted it. |
0:36.4 | He claimed it was the fault of the commissioner because numbers were revised down and convinced |
0:43.0 | his base that revisions were abnormal, even though they all go through more than one revision. |
0:50.3 | So here's the question. |
0:53.0 | How does he get someone qualified to run BLS now? |
0:56.0 | Does he even want someone qualified? |
0:59.0 | If he doesn't get someone qualified, isn't that going to damage the economy and increase uncertainty? |
1:07.0 | Does he understand how bigly he's messed up? |
1:10.0 | This is nuts. We've always had numbers we could trust |
1:14.4 | my entire career. Now, I don't know what to advise. The answers? I don't know. I don't think so. |
1:24.1 | Yes. I doubt it. A little bit more in depth. I don't know how he's going to get someone |
1:31.2 | qualified to run BLS now. The people who can do that job are either high-end managers |
1:37.9 | who could be CEOs or their economic gurus, or maybe both. Why would an economic guru go to work for somebody |
1:47.6 | who seems like they will require them to put out bad numbers and destroy their career? |
1:53.6 | An economist who knowingly puts out bad numbers to the public is done. There's no coming back from |
2:00.3 | that. That seems like what he wants. So, he won't |
2:04.7 | get any good one wanting the job. High-end managers who could be CEOs won't want to be tied to bad |
2:11.9 | numbers either. So the odds are that he'll end up with a loyalist, which is probably what he wants. |
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