Bread & Circus News

Tag: tariffs

  • Unemployed people are paying consultants $10K to find them a job

    Unemployed people are paying consultants $10K to find them a job

    The job market totally sucks under the unstable and reckless Trump regime, and people can’t find work they are qualified for. I constantly talk to people who have applied for 400, even 600, jobs and have not even had one interview.

    Desperate to find work, Wall Street Journal is reporting that people are paying $10,000 and more to consultants to find them new jobs.

    This is really all you ever need to know about how corporate America has been responding to the Trump administration. They aren’t hiring, and when they do, they are putting people through the ringer. It’s never been harder to find work than it is now. And sadly, the situation is only going to get worse as AI replaces more and more jobs

    But of course it’s not only AI that is replacing jobs. Many corporations are still outsourcing jobs overseas. I was just perusing Amazon‘s book publishing support jobs, and I see they are all based in India. So no, corporations are not bringing jobs back to America, they are sending more jobs overseas than ever before to recover the hit they are taking from Trump’s insane tariffs.

    But don’t worry, according to Trump supporters, we are in the Golden Age. Don’t pay attention to the flood of evidence everywhere you look to the contrary.

  • Restaurants hurting bad and closing as food prices continue to soar…

    Restaurants hurting bad and closing as food prices continue to soar…

    Donald Trump started his inauguration off by saying we were entering the Golden Age. Since that time he has boasted repeatedly about how “the cost of everything have come down and Americans are enjoying a much higher quality of life than ever before” on his watch. But is that true?

    According to restaurants and bars, that is definitely not true.

    Many food and beverage establishments are struggling. Wholesale food prices are up 17%, beef is up 21%, produce is up 10% or more, and they aren’t hiring anymore. They are cutting hours and reducing food portion sizes in order to survive.

    Case in point. Just recently, my wife and I went to a breakfast joint in our neighborhood. I was shocked that the food barely even covered my plate. They had cut the egg and hash brown size by HALF. I paid $15 for a meal that didn’t even fill me. We said we would never go there again. Since then, I found out that many of my neighbors have decided the same. Sad.

    A growing number of businesses are hurting just as bad as they did during the pandemic or worse. Many are closing for good. Consumers are eating at home way more often now. And it’s all because of continuing inflation that Donald Trump has failed to make a priority of his admin.

    I can’t help but wonder if the situation would be different if Donald Trump actually focused on bringing prices down. Instead, he is focused on punishing universities, slapping massive tariffs on all kinds of businesses, more tax breaks for the ultra rich and investor class, suing and silencing his critics, AI, crypto, expanding his Trump empire, building data centers, and now making marijuana legal and readily available to everyone in every state (as if already dumbed down Americans need one more thing to numb and sedate them).

    Given Trump’s priorities, you could never convince me that this is a man for we the working class people. This is a man who is for the elite class. He is totally out of touch with the majority of American people and our needs, and everyone will feel the pain of his apathy and ignorance on an increasing basis —until people stand up and stay “enough!”

  • Michigan governor warns Trump in private that tariffs are wrecking auto industry…

    Michigan Gov. Gretchen Whitmer met privately in the Oval Office with President Donald Trump FOR THE THIRD TIME to make a case he did not want to hear: the automotive industry he said he wants to save were being hurt badly by his tariffs.

    Sources she even brought a PowerPoint deck and showed Mr Tariffism evidence packed data proving how his tariffs are killing the auto industry and absolutely will lead to major closures, job loss, and catastrophic economic outcomes on the state of Michigan and other states.

    This is nothing short of mind blowing, considering she is a democrat who has been very critical of Trump in the past. Most Democrats avoid him like the plague. Not her. She has been to the oval office three times now, literally begging him to stop his tariffs.

    If you’ve been following this page or “operation deep truth” on Facebook, you know that we have been predicting this very outcome for months. Collapse is absolutely inevitable. Unfortunately, Trump and his team do not understand macro or microeconomics. In a quest to cement his legacy as the most innovative and powerful president of all time, they have taken a baseball bat to a highly complex trade system without any regards whatsoever about the consequences.

    Sadly, the American people are also clueless about economics, so very few people are even making any noise about it. Most people have no clue what’s coming. They blindly trust the government to take care of them and always make the right decision, even though the government has a track record of doing the exact opposite over and over and over again, including this administration.

  • Apple CEO sucks up to Trump with gold plated trophy…

    Apple CEO sucks up to Trump with gold plated trophy…

    Trump has been threatening tariffs on Apple iPhones. Apple CEO Tim Cook is very nervous about it, especially since iPhone only has 19% market share )compared to 76% for Android!) and will be going down even further as Trump’s own China-made smart phone rolls out soon.

    Cook went to the WH this week to try to convince the president that Apple was “America first” by pledging to favor American parts makers and gifting Trump with a ridiculously expensive Corning-made, gold-plated trophy. The president went on to say what a great American Cook was, despite the fact that Cook reiterated that iPhones will not be made in America.

    I have to give Cook credit. Like other savvy biz executives, he has learned there is no quicker way to this president’s heart than with flattery and gifts. Give Trump those two things, and you will have him eating out of your hand. maybe Cook is the one who should get a trophy for best suck-up.

    Too bad every business doesn’t have access to the president to tell him he’s the GOAT and hand him a trophy. The many businesses— especially small businesses, that were already operating on tiny profit margins— who are being hammered by Trump‘s tariffs have no access to him, nor does he care about their decline. Maga inc is mostly about Wall Street mega corp profits and photo opps. Everyone else can kick rocks. Hey that would make a good song.

    On that note, keep an eye out for my band’s (New World Rejects) upcoming double album called Once Upon a Crime.

  • OUCH! Consumers starting to feel pain of Trump’s insane tariff obsession…

    OUCH! Consumers starting to feel pain of Trump’s insane tariff obsession…

    There are increasing signs that Trump’s tariff TAXES are cascading down to consumer prices, as companies run out of options for keeping prices down. On average prices on imports have risen 3%, and it’s about to get a whole lot worse.

    Ever since Trump announced his “liberation day” tariffs, I have been sounding the alarm that they will lead to inflation unlike any we’ve seen in years and ultimately a recession— if not a depression. Modern America is built on global trade. It’s one thing to surgically improve trade relationships, it’s quite another to take a baseball bat to them.

    From NYT today:

    “Before Trump announced tariffs for much of the world on Thursday night – Adidas, Procter & Gamble, Stanley Black & Decker and many other large corporations told investors that they either had increased prices or planned to do so soon to offset the tariff costs.

    Companies like Walmart and the toymakers Hasbro and Mattel had already warned that tariffs would lead to higher prices.

    “We have no interest in running a lower-margin business, particularly due to tariffs,” Richard Westenberger, the chief financial officer of Carter’s, a children’s apparel maker,”

    Well duh. For the hundredth time, companies cannot absorb hundreds of billions of dollars and losses. As the CEO of a major corporation said yesterday on a conference call “we do not intend to run a low margin business.“ Well duh. I’ve said the same exact thing for months now. They have to recover their costs. They will do it through layoffs, shrinkflation, quality shortcuts, plant and location closures, and alas, price increases.

    I’d like to pause to gasp at the ignorance of Americans who can’t or won’t comprehend these fundamental principles of economics. Every day on social media, I see hoards of people celebrating Trump’s tariffs like they’re the greatest thing since sliced bread. The willful ignorance is beyond stupefying.

    Anyone, including a sixth grader, who took a moment to understand basic economic principles could see there will be terrible consequences for both America and many other countries, especially small businesses and the lower classes, who rely on lower in prices for imports that cannot be purchased in America. It’s not a matter of if, it’s a matter of when.

    One more thing. It’s a fool’s errand to judge the economy by the stock market. The stock market is being propped up by energy, AI technology, and healthcare (sick care) investments: three industries that will not lead to economic growth for the majority of Americans. If anything, those industries steal jobs, not create them.

    Get ready for hard times. Due to Trump’s ignorance and ego, and a brain-dead republic who is easily distracted and appeased by bread and circuses, the good time are gradually coming to an end.

    What will it take for Americans to wake up? Widespread poverty.

  • Trump’s waging war on us, not them

    Trump’s waging war on us, not them

    The Trump propaganda machine has been cranking out so much misinformation about tariffs and trade that only those with the highest level of discernment can see what’s really happening.

    What’s really happening is that Trump is waging war on American businesses and consumers through the implementation of anti-free trade tariffs that have cost American companies over $150 billion so far this year. Every single penny of this money will be recovered through all kinds of cost cutting mechanisms that will ultimately be paid by every consumer.

    Trump talks a very powerful game about “punishing countries for taking advantage of America,” but his tariffs are actually only punishing American companies, who have shockingly just rolled over and paid the tariffs without much protest at all— save for a small number of lawsuits, most of which have been rejected by courts.

    You might be inclined to think “The companies must know what they’re doing, there’s no way they would just part with their money and imperil their business.” but the truth is, they actually don’t know what they’re doing. They are every bit as dense as the average American consumer. Many of them are even paying the tariffs with loans.

    What’s really happening is that the tariffs have created a massive economic bubble that is worse than the real estate bubble back in 2006. There are hundreds of economic indicators warning that a recession is coming. I believe the odds are now up to 70%. When that happens, inflation is going to sort through the roof.

    Is Trump and his team really so ignorant to think companies could spend hundreds of billions of dollars on taxes and still remain solvent and profitable while prices remain stable? Shockingly, the answer to that question is yes. it’s hard to believe, but it’s true. They don’t know what they’re doing. They also don’t know what they’re doing with all of the AI technology. They are tinkering with systems that they know nothing about, all the wild, making a monetary killing on all the stocks they are invested in, such as Palantir,

    What’s really happening is an absolute bonanza for Trump and the upper upper class. They are making more money than they ever have during any presidency due to all the technology contracts, partnerships, and taxpayer money being thrown “tech infrastructure” projects that will not benefit the people whatsoever. They’re going as good right now for the 401(k) holders also, but it’s not going to last.

    Sadly, the only thing we can do now is protect our own assets, brace for impact, and wait till it falls apart for the American people to wake up and demand new leadership. Sad it has come to this. Very sad because there’s going to be a lot of pain.

  • Expert: Cut all your extra expenses NOW and brace for downturn…

    A financial expert I know, who has called every recession without fail, has always been ahead of the technology curve, and always been a reliable confidant to tell me what the economy is doing and where it’s going next, says people should cut all their extra expenses and brace for recession or even depression NOW.

    In a recent conversation, he confirmed what I have been saying about Trump’s insane tariffism all along: it’s a recipe for complete economic failure. He explained that America has totally thrived under global trade, prices have remained somewhat affordable, and small businesses have been able to compete due to low import prices, but all of that is gone now.

    He said the consequences of Trump’s tariffism are not fully seen yet because companies stocked up on inventory when Trump first announced tariffs, but as soon as that inventory is gone, product supply is going to be greatly reduced, and prices will soar. Worse, even if the tariffs are relaxed, it will take months, potentially even years, to restart the supply chain.

    While I don’t have the same deep economic experience my friend has, all of my own independent research and analysis have yielded the same prediction. it’s actually common sense because there’s no way that corporations can absorb $300 billion a year in tariff losses and still remain afloat without massive negative impacts to their business model and the overall economy.

    Trump and his team would have us believe that global trade is a horrible thing, and “globalists” are the enemies of America. But that’s not true. Global trade has been a wonderful thing for America for decades. The horrible thing is greed on the part of billionaires around the globe who are fleecing the vast majority of the people for their own selfish gain and enrichment, and that includes Trump and his friends at the very top of the food chain in America.

    Some people will claim this view is anti-American, but it is not. The greatness of America is in its diversity. Diversity of thought, diversity of people, and diversity of products which have led to incredible product choice and product innovation. Without global competition, American product innovation would be nothing. Even the muscle cars of the earlier years were in constant competition with their counterpart over overseas to make the fastest and best car.

    All that withstanding, hard times are coming because Trump is completely dismantling global trade and in the process dismantling all the companies that are reliant on it, including Ford, which just reported they will lose $2.5 billion in tariff fees this year alone. As much as they would love to make everything in America, it’s not entirely economically feasible, and forcing them to is the stuff of tyranny.

    Whatever happened to free trade? Whatever happened to the free market? Aren’t libertarian republican types supposed to protect these values rather than tear them down? The answer is yes. The problem is we don’t have libertarian Republican types in Office. We have economic totalitarians in office. And all of us are going to pay severely for it.

    So now is the time to cut all your extra expenses, start saving your money, embrace for economic impact, because it’s coming, whether we like it or not.

    Then again a lot of people are already doing just that. Vegas reports almost 15% decline and tourism. American tourism is down 15%. Theme park tickets are down 15% or more. Entertainment venues are down 15% or more. Luxury and convenience item purchases are drastically decreasing. clearly people are already pennypinching and getting ready for a huge downturn. Word to the wise.

  • Latest jobs report is all bad news for Americans and the “golden age” narrative…

    Latest jobs report is all bad news for Americans and the “golden age” narrative…

    The July jobs report was just released, and it flies in the face of Trump’s nonstop “America is the hottest economy in the world!” bantering. Employers added only 73,000 jobs, and worse, the job reports from the previous two months were revised to show radically lower hiring than previously reported.

    The government previously reported that 147,000 jobs were added in May and 125,000 jobs were added in June. They have now revised those numbers to 14,000 and 17,000 respectively. This is unheard of. Had they reported accurately two months ago, the stock market would be in shambles right now. One has to wonder if there was some sort of cover-up to bolster the “liberation day“ narrative.

    But wait. Isn’t an addition of 73,000 jobs in July good news? Not really. Of the 73,000 jobs that were added, the vast majority of them are in sick care, hospice care, home pallative care, and social work, signaling once again that Americans are sick and getting sicker all the time—and those who are awake know why. (psst it starts with a V)

    If all this wasn’t bad enough, 264,000 workers left the workforce in July unemployment rose to 4.2%. That is a whole lot of people out of work suddenly. Of course, this will have a massive impact on the economy.

    More from CNBC:

    “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 November 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.

    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.

    The report comes with questions rising about firms’ willingness to hire in the face of ongoing trade negotiations and escalating tariffs.”

    That last paragraph is important. We have been saying all along companies will pull back hiring due to the $150 billion they have had to pay in Trump tariffs. We guaranteed this would happen. It will continue to happen, as will shrinkflation and deterioration of product quality across-the-board.

    The government keeps telling us that we have entered a “golden age” and America is the “hottest place in the world,” yet most economic indicators, and more importantly real life experience, screams the exact opposite. Trump inherited a pretty good economy that would have improved more with just some gentle tweaks. Instead, he took a baseball bat to it, and we are now paying the price.

    One thing is for sure, you can’t judge the economy based on how the stock market is doing. The stock market is being held up by energy stocks, AI tech stocks, healthcare stocks, none of which actually benefit the American people, product prices, and our way of life. Stay tuned to this station for the truth. We will tell you what’s really going on— as well your pocket book. As always, don’t believe the hype. 

  • Just in: your dollar does not go as far as it did this time last year…

    Despite the nonstop flood of “golden age” economic optimism pouring out of the White House 24/7, in the real world the prices of everything continue to rise with no end in sight (which, by the way, is the reason the federal reserve will not lower the interest rate any further).

    Today the Federal Reserve is reporting that the PCE index, which measures consumer expenses and buying behavior, rose again this June by almost a half a percentage point. At present it is 2.6% higher than it was this time last year. This means inflation is not stopping in consumers are going further into debt to stay afloat.

    Then again, who needs economic indicators from the Federal Reserve statistics? Just go to your local grocery store and see for yourself. Better yet, go to Home Depot, like I just did, and buy some house paint, and prepare to have your jaw hit the floor when it rings up $47.99 a gallon As they say, the proof of the pudding is in the eating.

    Not fun fact: unless you received at least a 3% raise this year, you are indeed getting poorer, while the rich are indeed getting richer. That is the trend, and evidently most people agree…

  • Americans will now pay 15% more for Korean products like Samsung due to Trump’s new “winning” deal

    Where to even start with this. America had a $66 billion trade deficit with So Korea. There’s nothing inherently wrong with this. It’s mostly just the outcome of supply and demand: Americans demand South Korean products more than South Koreans demand American products. But Trump has been depicting trade deficits as proof that countries are ripping off Americans so he can get better import/export “deals“ and “investments“ from these countries.

    In the latest round of tariff wars, Trump claims South Korea will allow American exports to be duty-free, while South Korean imports will cost American companies and consumers 15% more than we have been paying. Trump calls this “winning.” He also says South Korea has agreed to invest billions of dollars in American infrastructure. What infrastructure? Energy infrastructure, for AI data centers. he also calls this “winning.”

    To be sure, it is in fact “winning,” but only for the technocracy and oligarchy. There will be no winning for the American people, whose jobs will be systematically deleted as more and more of these foreign funded AI data centers come into existence across America and the prices on products keep going up while the quality of products keeps tanking.