Blue Press Journal

Tag: economy

  • Bad Job Numbers Point to Trump’s Failed Economy Policies

    Blue Press Journal (DC) – The latest jobs report from the Labor Department has revealed a worrying trend in the US economy, with hiring decelerating to 79,000 in July, down from previous months. The unemployment rate has also ticked up to 4.3%, its highest level since 2021, exceeding expectations. This slump in job growth is a clear indication that President Donald Trump’s policies, including his trade wars, are creating uncertainty that is leaving managers reluctant to make hiring decisions.

    So far in 2025, the economy has generated a mere 85,000 new jobs per month, a significant drop from the 168,000 jobs created last year under Biden and a far cry from the average 400,000 jobs per month during the hiring boom of 2021-2023. This boom was a result of the US economy recovering from COVID-19 lockdowns, but Trump’s policies seem to be reversing this progress.

    According to Heather Long, chief economist at Navy Federal Credit Union, “The labor market is showing signs of cracking. It’s not a red siren alarm yet, but the signs keep growing that businesses are starting to cut workers.” The Labor Department’s report on Thursday also showed that the number of Americans applying for unemployment benefits rose to the highest level since June, although the number of claims remained within a healthy range.

    In a surprising move, President Trump fired Erika McEntarfer, head of the Bureau of Labor Statistics, following the weak July jobs report. Trump claimed the report was rigged against him, a statement that faced widespread criticism. This decision has raised concerns about the Bureau’s independence and the integrity of its data.

    The latest jobs report indicates that Trump’s economic policies are failing. His trade wars and uncertain decisions are causing businesses to hesitate, slowing job growth.

  • The Alarming Reality of Donald Trump’s Ignorance

    Opinion – Blue Press Journal – As the world grapples with the challenges of the 21st century, it has become increasingly evident that Donald Trump’s presidency is marked by a disturbing trend: his staggering ignorance. While his propensity for lying and throwing temper tantrums has been well-documented, it is his lack of understanding and lack of intellectual curiosity that pose the greatest threat to the nation and the world at large.

    A recent episode illustrates this point starkly. In a misguided attempt to solve Los Angeles’ wildfire problem, Trump unilaterally decided to “open up” taps to release billions of gallons of water from two reservoirs in the Sierra Nevada foothills. However, as experts quickly pointed out, not a single drop of that water could have possibly reached Los Angeles, and instead would have overflowed the banks of rivers, threatening residents in nearby communities. As one observer noted, “It was clearly nothing but a poor publicity stunt. And it was a dangerous one.”

    Fortunately, disaster was averted thanks to the quick action of local water management officials who intervened to prevent the Army Corps of Engineers from carrying out Trump’s ill-conceived order. However, the incident highlights the alarming reality of Trump’s decision-making process, which is often driven by misinformation, conspiracy theories, or sheer whim.

    As Charles Leerhsen, who co-wrote Trump’s book “Surviving at the Top” in 1990, noted, “I’ve never met anyone else remotely like him. He is and was profoundly stupid, completely lacking in intellectual curiosity.” This assessment is echoed by former top aides, including Defense Secretary James Mattis, who reportedly said Trump had the understanding of a “fifth- or sixth-grader,” and chief of staff John Kelly, who called him an “idiot.” Former Secretary of State Rex Tillerson’s description of Trump as a “moron” – later clarified as a “fucking moron” – is particularly telling.

    Trump’s ignorance has real-world consequences, particularly in the area of economic policy. His trade war, which has been broadened to target the entire world, is a prime example. Based on his flawed understanding of how tariffs work, Trump has sparked a drag on the U.S. and global economies, leading to higher prices for consumers and devastating impacts on domestic farmers and manufacturers.

    As one of his top advisers in the first term noted, Trump’s decisions often happen because he is “astonishingly ignorant.” His insistence on pursuing policies that defy evidence and expertise has little to do with ideology and everything to do with his own misinformed views. Whether it’s his claim that sea-level rise will create more oceanfront property or his certainty that other countries pay tariff revenue to the United States, Trump’s ignorance is having a profound impact on the nation and the world.

    Donald Trump’s ignorance is a notable aspect of his presidency. While his lies and temper tantrums are troubling, it is his lack of understanding and intellectual curiosity that poses a significant threat. We must recognize the dangers of Trump’s ignorance and strive for a more informed, evidence-based approach to governance. The stakes are too high to overlook this alarming reality any longer.

  • Trump’s Tariffs Dealt Significant Blow as Federal Appeals Court Rules Them “Basically All Illegal”

    Blue Press Journal (DC) – In a major setback for the Trump administration, a federal appeals court has invalidated vast portions of the president’s sweeping tariffs, ruling that he lacked the authority to impose them under the International Emergency Economic Powers Act (IEEPA) of 1977. The 7-4 decision, which upholds a lower court’s opinion, marks a significant defeat for Trump’s global trade war.

    The appellate court’s majority found that Trump’s argument, which relied on declarations of national emergencies to establish the power to enact wide-ranging taxes, was “a wafer-thin reed on which to rest such sweeping power.” The judges concluded that Trump unlawfully stretched the 1977 statute to impose the import tariffs, which affects nearly all goods from nearly every country importing to the United States.

    This ruling has significant implications, as it may require the administration to repay billions of dollars in duties, a move that customs and trade experts warn would be “a logistical nightmare.” The court emphasized that “tariffs are a core congressional power” and that there is “no clear congressional authorization by IEEPA for tariffs of the magnitude of the reciprocal tariffs and trafficking tariffs.”

    The decision affirms a May ruling from the US Court of International Trade, which also found that Trump exceeded his authority. This latest ruling is a major blow to Trump’s trade policies, which have been widely criticized for their potential to harm American businesses and consumers.

  • Federal Appeals Court Deals Blow to Trump’s Tariff Policy

    Blue Press Journal – In a significant setback to President Trump’s trade agenda, a federal appeals court rejected his claim that emergency powers justify imposing tariffs on a global scale. On Friday, the U.S. Court of Appeals for the Federal Circuit ruled 7-4 that the President’s tariffs were not authorized by the statute he cited to justify them.

    The court’s decision affirms a lower court’s ruling that the International Emergency Economic Powers Act (IEEPA) does not permit the President’s sweeping moves. The IEEPA allows the President to issue certain economic sanctions in response to an “unusual and extraordinary threat” during an emergency. However, the court ruled that this authority does not extend to the imposition of tariffs.

    The majority opinion stated, “Because we agree that IEEPA’s grant of presidential authority to ‘regulate’ imports does not authorize the tariffs imposed by the Executive Orders, we affirm.” This decision is a significant blow to the Trump administration’s efforts to refashion global trade through tariffs.

    The ruling will not take effect immediately, as the court has withheld the mandate for its decision until October 14. This delay allows the administration to appeal the decision to the Supreme Court. The Trump administration is likely to pursue an appeal, as the tariffs are a key component of the President’s trade policy.

    This decision has significant implications for ongoing trade disputes between the United States and other countries. The Trump administration’s tariffs on goods from several nations, including China, Canada, and Mexico, were justified by national security concerns and unfair trade practices. The court’s ruling suggests these tariffs may not be legally justified, potentially leading to a re-evaluation of the administration’s trade policy.

  • Stupid is as Stupid does… TRUMP Tariffs

    BLUE PRESS JOURNAL – In a move that is set to infuriate Americans and disproportionately harm his core base, President Donald Trump is eliminating the de minimis rule, a century-old exemption that allowed goods valued at $800 or less to enter the United States duty-free. This policy change, which takes effect on Friday, will subject approximately 1.4 billion packages to tariffs ranging from 10-50% or flat fees of $80, $160, or $200 per package.

    The de minimis rule was designed to facilitate trade in low-value items, reduce customs paperwork, and keep the mail moving efficiently. However, with its elimination, Trump’s latest tariff will have a devastating impact on low-wage earners and young voters, two groups that were crucial to his election victory. These demographics, which have been loyal to Trump, will now face significant price hikes on everyday items, including online purchases and gifts.

    The numbers are stark, and the consequences will be far-reaching. The tariffs will not only increase costs for consumers but also burden small businesses and e-commerce platforms that rely on international trade. The move is a stark reminder of Trump’s failed promise to bring prices down “on Day 1” of his presidency. Instead, his policies have consistently driven prices up, hurting the very people who voted for him.

    The timing of this policy change could not be worse for Trump, whose job approval ratings have been steadily declining. The elimination of the de minimis exemption will likely drive a stake deep into the heart of his already struggling ratings. Voters, who were initially swayed by Trump’s promises of pain-free tariffs paid by other countries, are now facing the harsh reality of his policies. As they begin to feel the pinch of higher prices, they will undoubtedly reevaluate their support for the president.

    Trump’s latest tariff is a self-inflicted wound that will have far-reaching consequences for his base and the American economy as a whole. As the saying goes, “stupid is as stupid does,” and this policy change is a prime example of the administration’s tone-deaf approach to trade and economics. With the midterm elections looming, it remains to be seen how voters will respond to this latest affront to their wallets. One thing is certain, however: Trump’s approval ratings will continue to suffer as the full weight of his tariffs becomes apparent to the American people.

  • Fed Governor Lisa Cook Sues President Trump Over Removal Threat

    Blue Press Journal (DC) – In a courageous move, Federal Reserve Governor Lisa Cook has filed a lawsuit against US President Donald Trump, claiming that he has no authority to remove her from office. The lawsuit, filed on Thursday, argues that Trump’s announcement on August 25 to fire Cook violates a federal law that only allows the president to remove a Fed governor for cause.  “For cause” is generally understood to mean gross misconduct, such as malfeasance (wrongdoing), neglect of duty, or significant inefficiency while in office. 

    Cook, the first Black woman to serve on the Fed’s governing body, was appointed by former President Joe Biden in 2022. Trump, a Republican, has accused Cook of committing mortgage fraud in 2021, a year before she joined the Fed. However, experts have questioned whether these transactions, which were public record at the time of her appointment and confirmation by the US Senate, constitute adequate cause for removal.

    The lawsuit raises concerns about the Fed’s independence from the White House in setting monetary policy, which may affect the global economy. Following Trump’s announcement to remove Cook, the US dollar weakened against major currencies.

    Cook’s lawyers argue Trump’s demands lack a proper basis or legal authority. Cook stated that “no causes exist under the law,” asserting that Trump has no power to remove her.

    This latest development has sparked concerns about Trump’s ongoing attempts to undermine the country’s checks and balances. Critics argue that Trump’s actions are a clear example of executive overreach, threatening the independence of institutions like the Federal Reserve.

  • The Importance of an Independent Federal Reserve: Why Trump’s Politicization is a Recipe for Disaster

    Blue Press Journal – The Federal Reserve Bank, the central bank of the United States, has long been a bastion of independence, making decisions based on economic data and expertise rather than political considerations. However, with recent attempts by President Donald Trump to politicize the Fed, there are growing concerns about the potential consequences of such a move. In this blog post, we will explore the dangers of politicizing the Federal Reserve and why other countries that have taken this path have faced significant economic challenges.

    The Risks of Politicization

    Politicizing the Federal Reserve would undermine its independence and potentially lead to a range of negative consequences, including increased inflation and economic instability. As former Federal Reserve Chairman, Ben Bernanke, once stated, “The independence of the Federal Reserve is essential to its ability to make decisions based on its mandate to promote maximum employment and price stability, rather than based on short-term political considerations.”

    CountryCentral BankOutcome
    TurkeyCentral Bank of the Republic of TurkeyHigh inflation, economic instability
    ArgentinaCentral Bank of ArgentinaHyperinflation, economic crisis
    VenezuelaCentral Bank of VenezuelaHyperinflation, economic collapse

    As the table above illustrates, countries that have politicized their central banks have faced significant economic challenges. In Turkey, for example, the government’s interference in the central bank’s decisions led to a sharp increase in inflation and economic instability. Similarly, in Argentina and Venezuela, the politicization of their central banks resulted in hyperinflation and economic crisis.

    Why Trump’s Plan is Flawed

    President Trump’s desire to politicize the Federal Reserve is particularly concerning given his own history of financial mismanagement. As a businessman, Trump has filed for bankruptcy multiple times, raising questions about his ability to make sound economic decisions. As Nobel Prize-winning economist, Joseph Stiglitz, noted, “The idea of putting the Federal Reserve under political control, particularly with someone like Donald Trump who has a history of bankruptcy, is a recipe for disaster.”

    The Federal Reserve’s politicization would risk far-reaching consequences for the US economy. Its independence is crucial for decisions based on economic data rather than political pressures. History shows that politicizing central banks can lead to inflation, instability, and crisis. We must protect the Fed’s independence from political interference.

    As former Federal Reserve Chairman, Alan Greenspan, once stated, “The Federal Reserve’s independence is a cornerstone of its ability to maintain price stability and promote economic growth.” Let us hope that policymakers will heed this warning and reject any attempts to politicize the Federal Reserve. The future of the US economy depends on it.

  • Trump’s Sudden Announcement to Fire Federal Reserve Governor Sparks Widespread Backlash and Legal Questions

    Blue Press Journal (DC) – In a shocking move, President Donald Trump announced late Monday that he would be firing Federal Reserve Governor Lisa Cook, effective immediately. The unexpected decision has sent shockwaves throughout the economic and political spheres, with many critics denouncing the move as a potentially disastrous blow to the US economy.

    The reasoning behind Trump’s decision is alleged mortgage fraud committed by Cook, claims that have yet to be substantiated or proven in a court of law. Despite the lack of evidence, Trump has seen fit to publicly declare his intention to remove Cook from her position, sparking a heated debate about the limits of presidential power and the potential consequences of such an unprecedented action.

    Cook, however, has refused to back down, stating her intention to remain on the Federal Reserve despite Trump’s announcement. The standoff has raised questions about the stability of the US financial system and the potential repercussions of a president interfering with the independence of the Federal Reserve.

    Critics, including prominent social media personality Brian Krassenstein, have been swift to condemn Trump’s move, accusing him of attempting to remove Cook without credible evidence. Krassenstein argue that Trump’s actions are a clear case of “phony projection and slander” against a distinguished public servant. Many have pointed out that Trump’s own history of questionable business dealings, his conventions of thirty five felonies and alleged misconduct make him unfit to dictate the fate of others.

    The implications of Trump’s actions are far-reaching and potentially devastating. As the first president to attempt to fire a member of the Federal Reserve Board, he sets a dangerous precedent that could undermine the independence of the central bank and destabilize the economy. With significant economic challenges already facing the US, the last thing needed is a president willing to disregard decades of rules governing the Federal Reserve.

    As the situation unfolds, Trump’s decision to fire Lisa Cook has ignited controversy that could significantly impact the US economy. Regardless of Cook’s fate at the Federal Reserve, the damage is done, and the American people will watch closely.

  • John Deere Announces Layoffs Amid Slow Farm Orders and Tariffs

    Blue Press Journal (IA) – John Deere, the leading manufacturer of agricultural equipment, has announced layoffs at three of its manufacturing facilities in Iowa and Illinois. The move comes in response to a downturn in farm commodity prices, which has negatively impacted the company’s sales and shares.

    According to a statement released by the company on Monday, August 18, 71 workers will be laid off at its foundry in Waterloo, Iowa, effective September 19. Additionally, 167 workers will be laid off in the Quad Cities area of Illinois: 115 from its harvester works in East Moline, effective August 29, and 52 from its seeding and cylinder works in Moline, effective September 26.

    Tariffs Directly Result in Layoffs

    The layoffs are a direct result of the company’s gloomy earnings report, which showed a significant decline in sales due to slow demand for farm equipment. The report, released on August 14, sent the company’s shares down 6%. The downturn in farm commodity prices has led to a decrease in farmers’ purchasing power, causing them to opt for renting machinery instead of buying.

    The ongoing trade tensions and tariffs imposed by President Donald Trump have added to the woes of farm-equipment makers. The tariffs on raw materials such as aluminum and steel have increased the cost of production, making it even more challenging for companies like John Deere to maintain profitability.

    The layoffs highlight the trade war’s impact on agriculture. Farmers, already battling low commodity prices, face rising costs from tariffs, which reduces demand for farm equipment and leads to layoffs and regional economic uncertainty.

    The announcement has raised concerns about the economic impact on communities where John Deere is a major employer. The decision to lay off workers highlights the challenges in the agricultural industry and the need to resolve trade tensions. It remains unclear how the industry will adapt to changing market conditions and what measures will be taken to mitigate the effects of tariffs.

  • The Hidden Republican Tax Increase: How Tariffs Hurt Local Resident

    Blue Press Journal – As our communities struggles with economic inequality, it’s essential to examine the impact of tariffs on our daily lives. Despite their pledges to never raise taxes, many Republican lawmakers have supported President Donald Trump’s tariffs, which essentially impose a tax on goods imported into the United States. This regressive tax increase disproportionately affects low-income Americans, exacerbating the existing economic divide.

    Tariffs are often misunderstood as a way to “make other countries pay” for their trade practices. However, the reality is that these taxes are passed on to American consumers in the form of higher prices or absorbed by businesses, ultimately harming local residents. The poor and middle class, who spend a larger portion of their income on goods, are hit the hardest by these tariffs. In contrast, wealthier individuals, who tend to save more and spend on services, are less affected.

    It’s striking that Republicans, who have long championed tax cuts and reduced funding for the Internal Revenue Service, are now supporting tax increases through tariffs. This hypocrisy is particularly egregious given the regressive nature of tariffs, which favor the interests of the wealthy and large corporations. These groups often contribute significant campaign donations to politicians, who in turn, prioritize their interests over those of everyday Americans.