President Trump has made a selection to be the new commissioner at the BLS. He will nominate E .J. Antoni who is an economist who has a history of making a living being consistently incorrect in his economic analysis and pleasing his employers.
Considering that the BLS economic data is used by business, markets --- such as the TIPS market, government --- such as setting Social Security annual adjustments, it has an internationally recognized credibility which is not appreciated by the current President who prefers data and information which must please him or else, because he knows better what reality is than anyone else.
When incompetent people think they are smart, it is known as the Dunning-Kruger Effect. Here is a 25 minute video explanation of the Dunning-Kruger Effect. It will explain what we currently see happening to our downward spiraling democracy much less what we see happening as we live in this economy.
President Trump is convinced --- or trying to convince everyone --- that the data is wrong if it does not show the "great job" he is doing and how he has made the US economy the "bestest ever" --- just look at the price of beef and the trillions of dollars added to the federal deficit by his Big Beautiful (The Big Con) Budget Bill to benefit the top 10% of the very rich. After all President Trump has personally enriched himself during his presidency to the tune of $3.4 billion by monetizing the Presidency for his personal benefit.
When Herbert Hoover did not like the BLS reports after the 1929 stock market crash from 1930 through 1932, when the BLS jobs report showed a quarter (approximately 12 1/2 million people) of the working population was out of work, and he forced the BLS Commissioner to retire, because President Herbert Hoover knew there was better information Hoover preferred. Hoover went on to lose the 1932 election.
Incompetent people who think they are smart like other incompetent people who make them look smart no matter what.
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