I figure it this way: If President Trump can name a government website after himself — the upcoming TrumpRx.gov prescription site — then I can name economics and recessions after him.
Thus we now have the words Trumpcession and Trumpnomics. Folks, you saw them here first, as I’m sure there will be copycats out there on social media and probably in the traditional media as well.
To wit, the latest news is that one million jobs have been lost this year already (through October). The figure is 44 percent higher than for all of 2024.
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A lot of the job losses can be attributed to artificial intelligence (AI) taking over for humans, but another patch of the jobless total can be attributed to Trumpnomics — tariffs and, yes, even DOGE layoffs, along with a virulent bout of inflation that Trump still hasn’t defeated.
“Some industries are correcting after the hiring boom of the pandemic, but this comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes,” Andy Challenger, chief revenue officer for Challenger, Gray and Christmas, the firm issuing the jobs report, said in a statement.
The recent elections — though held in typically Blue States — did show that voters were ready to vote Demofiend (and worse in Mamdani’s case, for communism) because of “affordability” issues and a weak job market.
Now, on top of that, the stock indices this week decided to claw back viciously at the gains made since a near market collapse on April 2, Trump’s self-declared Independence Day, when retaliatory and punitive tariffs were announced.
October is typically a bad month for stocks, so there may be no surprise there. But those living paycheck to paycheck are certainly struggling, what with rising food prices, insurance premium hikes, rent and housing inflation, and fewer paths to get ahead. AI, you’re too damned good.
The paycheck-to-paycheck crowd now accounts for 67 percent of all Americans.
Mr. Trump, there indeed may be reason to worry about the midterms in 2026. Republicans and MAGAistas, how about 2028 and the Senate and Presidential races?
