The disastrous jobs-numbers that were released on Friday August 1st, showing that the U.S. added only 73,000 jobs in July and a mere 106,000 jobs since May (while the U.S. economy needs to add 80,000 to 100,000 jobs each month in order to replace employees who leave the workforce for retirement or incapacity), mean that the enormous uncertainty that Trump’s tariffs have created for business planners — whose top concern is their supply-chains, which need to be planned months in advance of signing contracts with suppliers — are crashing the U.S. economy. I therefore had always had been expecting this collapse to happen, and was consequently very surprised by the favorable May and June numbers, but now they have been drastically revised downward, which suggests that the Bureau of Labor Statistics had been padding the employment numbers during those two months, and that its Commissioner had finally decided not to do it yet a third time, because that would only lead to an even bigger reality-deficit building up, and so the person would then definitely be investigated for having committed fraud. But, anyway, this supply-chain issue is the critically important one, though the U.S. press, for some reason, had been paying little attention to it. So, that problem has simply been quietly festering till now. Stand Strong: 365 Devo... Our Daily Bread Best Price: $1.76 Buy New $14.26 (as of 09:12 UTC - Details)

For example, if a supplier is in China (the biggest exporter to the U.S.) or in Mexico (the second-biggest exporter to the U.S.), then all of the unclarity till now, regarding what Trump’s tariffs would be on those countries, has made impossible for an American corporation to know whether or not to switch to importing from a different country — which would mean for the U.S. company to go through a possibly months-long searching-and-negotiating process, of finding and contracting with a different supplier, in a different country.

Trump did not start his second term on January 20th by announcing what his tariffs would be, but instead started, at that time, his own negotiating-process with all countries, in order to determine what his tariffs would be. Actually, he still is doing it. And he constantly is changing what his tariffs will be. He is thereby killing the American economy. Republicans in Congress, who have been voting for Trump’s bills, are going to have a lot of explaining to do, but the cake has, by now, already been baked for the 2026 mid-term elections; and, so, Trump will start 2027 with a Democratic-Party-led Congress, which will make Biden’s last two years in office look like a bipartisan holiday by comparison.

The announcement on August 1st by the Commissioner of the Bureau of Labor Statistics, Erika McEntarfer, was immediately followed by Trump’s firing of her. President Biden had nominated McEntarfer in July 2023, but she didn’t enter office until after the U.S. Senate approved her nomination by a vote of 88 to 8 on 11 January 2024, and her first day in office was 29 January 2024. Ever since then, she was heading the agency. Prior to her, the agency had been headed by an interim Commissioner (not confirmed by the Senate), William J. Wiatrowski, for almost a year, and he takes over now, without Senate confirmation (which the law requires), again as an interim Commissioner. So, Trump will now be getting his numbers from Wiatrowski, who had been serving from 28 March 2023, to 28 January 2024, during Biden’s Administration (and is therefore, yet again, a Biden appointee). (Irrespective of whether McEntarfer had been, as Trump claimed, falsifying the numbers during Biden’s Presidency, his having waited till now to fire her is itself a black mark upon him; and, to the international financial community, the credibility of America’s financial reports has been severely damaged by the entire incident. It shows that — regardless of McEntarfer — “The Emperor has no clothes.”)

Trump’s having immediately fired McEntarfer sent shock waves throughout the global financial community, which compounded their shock earlier in the day from the drastically revised-downward prior published jobs figures from May and June; and the result from this double-whammy will be a global collapse in the confidence-level in U.S. Treasury bonds. We are consequently experiencing a turning-point downward in the U.S. as the world’s imperial power. The U.S. empire (almost all of Europe, almost all of the Western Hemisphere, plus Israel, Japan, South Korea, Philippines, and Australia) has reached its pinnacle, and the world-center is now definitely in Asia, especially if Russia, China, and Iran, will form a mutual-defense treaty, which will be especially important to defend against America’s NATO treaty organization. If it will, and if it invites into itself any member-nation of NATO that will exit NATO, then the prospects could be bright for the world. But, otherwise, the prospects are dark, because any empire during its declining phase intensifies its aggressiveness. Simply to passively wait for the U.S. empire to end would therefore likely mean that the increasingly-desperate-to-maintain-its-hegemony U.S. Government will become even more boldly aggressive than it already is. The likely outcome from that would, of course, be World War Three (the end of the world).

“Two roads diverged in a yellow wood, and, not knowing which to choose, long I stood, peering down both as far as I could, to where they disappeared in the undergrowth. … I took one, and that has made all the difference.” An abbreviation of the classic poem about decisions, Robert Frost’s “The Road Not Taken”

But that is hardly the only indication that Emperor Trump is so desperate as to be going crazy with his failures and with his ever-rising threats and retaliations:

Also on August 1st, Trump, on his Truth Social, posted the following in reply to a statement by Russia’s #2 leader Dmitry Medvedev that if the U.S. will push things too far and force a WW3, then Russia’s “Dead Hand” automated nuclear response to an American blitz attack will still decimate the U.S., and Trump announced there that, in retaliation to what he takes as a personal insult, he is now sending two nuclear submarines right up close to Russia; Trump was, apparently, affronted by Medvedev’s statement that a WW3 would have no winners: Over the Counter Natur... Ellison, Shane Best Price: $5.81 Buy New $9.56 (as of 03:17 UTC - Details)

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Donald J. Trump

@realDonaldTrump

Based on the highly provocative statements of the Former President of Russia, Dmitry Medvedev, who is now the Deputy Chairman of the Security Council of the Russian Federation, I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that. Words are very important, and can often lead to unintended consequences, I hope this will not be one of those instances. Thank you for your attention to this matter!

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Aug 01, 2025, 12:53 PM

This article was originally published on Eric’s Substack.