AI Summary
5 min readThe MeidasTouch Podcast host opens with a blunt summary of Donald Trump’s Friday: a catastrophic jobs report, frantic social media posts claiming victory over Iran, and a regime media apparatus spinning job losses as good news. The episode is a rapid-fire indictment of the Trump administration’s economic record, its foreign policy posturing, and the gap between official messaging and ground-level reality.
The July Jobs Report: Lost Jobs, Revised Figures, and Real Wage Pain
The headline number is stark. The U.S. economy lost 23,000 jobs in July, far below the consensus expectation of 80,000 to 90,000 jobs gained. The damage went deeper. The Bureau of Labor Statistics revised the May and June reports down by a combined 103,000 jobs — meaning the economy added far fewer jobs over the spring than originally reported. The host frames this as part of a pattern: “all of the jobs reports under the Trump regime have been pretty bad.”
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What you'll learn
- 1 (02:15) **Catastrophic July Jobs Report** - The host breaks down the worst jobs report in recent history, showing a net loss of 23,000 jobs and major downward revisions.
- 2 (04:46) **Fox News Spins Disaster as "Goldilocks"** - The host plays clips of Maria Bartiromo and co-hosts celebrating the job losses as ideal for corporate profits and the market.
- 3 (09:09) **Kevin Hassett's Desperate Spin** - The host analyzes the White House economic advisor's attempt to blame the job losses on a World Cup hangover and reduced immigration.
- 4 (10:40) **Trump's Embarrassing "Iran War" Posts** - The host examines Trump's social media meltdown, where he repeatedly declares "I won the war" with Iran.
- 5 (11:08) **Saudi Arabia Ditches U.S. Security Umbrella** - The host reveals that Saudi Arabia has entered a new military alliance with Turkey and Pakistan because they no longer trust U.S. protection.
- 6 (11:43) **Bessent's Secret Currency Intervention** - The host explains how Treasury Secretary Bessent secretly sold Euros to prop up the Japanese Yen, screwing over the European Central Bank.
- 7 (12:26) **Pete Hegseth Calls Pentagon "Department of War"** - The host notes that the Secretary of Defense, who couldn't run a small non-profit, is now calling the Pentagon the "Department of War."
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Show Notes
MeidasTouch host Ben Meiselas reports on Donald Trump’s catastrophic Friday after a disastrous job report and a disastrous report on Trump’s war in Iran.
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