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Unleash Prosperity Hotline
Issue #1320
08/04/2025
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1) Is the BLS Mostly BS?

On Friday afternoon, Trump fired Erika McEntarfer, the head of the Bureau of Labor Statistics. Trump was angry that the Friday jobs report for July recalculated downward - by some 250,000 - the BLS's initial estimates of employment for May and June.

Trump is right to complain that the BLS jobs numbers are less and less accurate over time and these bad estimates impair economic policy making.

But what we have here is the classic bias known as Hanlon's Razor: "never attribute to malice what can be explained by incompetence."

The BLS's jobs estimates are increasingly unreliable snapshots of what is going on in the real economy. The monthly revisions shoot up and mostly way down from the initial headline numbers more than ever.

A major reason is the response rate on the employer surveys is way down.

The Biden jobs estimates have ALREADY been revised downward by a gigantic 800,000 from the original monthly estimates, and our spies at the BLS tell us to expect further downward revisions of as much as 500,000 more phantom jobs. That would mean close to 1.5 million phantom jobs under Biden.

We hope the new BLS hire fixes the mechanics of job estimation so we get accurate reads in the months and years to come.
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2) Green New Deal Was Once All the Rage, Now It's Passé

Joe Biden hailed the "Green New Deal" as a signature achievement of his four years in office. But now, as Trump dismantles much of that agenda, the Left is acting as if it's political cyanide.

Over the past three months, liberals in Congress mentioned the "Green New Deal" only six times in their social media and in floor statements. During the same period, conservatives couldn't talk about it enough. They mentioned "Green New Deal" 337 times, universally condemning it as an expensive, elitist scam on the taxpayer.
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Even worse news for the climate industrial complex is that Rep. Alexandria Ocasio-Cortez of New York and Sen. Ed Markey of Massachusetts, haven't bothered to reintroduce their signature resolution calling for a 10-year national mobilization to promote a "clean energy" economy.

Here’s why: Support for the Green New Deal has fallen with two key constituencies. When independent voters are asked if they think it's important to expand wind and solar power over fossil fuels, independent voters are 20 points less likely to agree than they were in 2020. As for minorities, they are skeptical they can enjoy a middle class lifestyle if the economy is put under a green thumb.

Democratic Senator Ruben Gallego of Arizona ([link removed]) offers a good explanation for the pushback among working class Americans: Every Latino man wants a big-ass truck. Nothing wrong with that."

Support for renewables is shrinking fast while fossil fuels are back in vogue:
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3) Have You Heard the One About "Greenhushing?"

With the climate change agenda rapidly losing public support, thanks to the astronomic costs of going green, businesses and governments are reversing their absurd green anti-fossil fuel commitments.

So to save face, the climate change crazies are finding a way to ensure their religious followers that the green agenda is alive and well. The Economist magazine, which went to the dark side on climate issues some 20 years ago, now says "taken as a whole, companies are quietly making progress on their climate goals."

Mmm Hmm. Sure they are.

The Economist has even promoted a new term called "greenhushing," which is when "companies stay quiet about pursuing their emissions-reduction goals."
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This makes no sense. No one but an imbecile really believes that all these economically masochistic climate policies will actually change the planet's temperature. (The enviros' own models show that the global temperature changes would be minuscule.)

For corporate America, genuflecting to the climate change police has always been a PR campaign. It's an expensive form of virtue signalling that allows firms to say: "Look at us! We care about the planet."

But what good is virtue signaling if you cover it up?
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4) Idaho Rules!

Our VoteWithYourFeet.net ([link removed]) website is up and running and attracting lots of attention in its first week of being posted to the world.

One question we've been asked by readers is: Which states in percentage terms have lost and gained the most people and money?

Here are the results. Idaho is the biggest winner over the past decade. Nine of the 10 fastest risers are red or pink states.

The biggest loser is DC.
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5) Portland Is Latest City Ruined by Progressive Rule

Nordstrom, the luxury department store, celebrated the 75th anniversary of its first store in Portland, Oregon, this year. But it may not be around to see a 76th anniversary.

Portland Mayor Keith Wilson says he recently had a talk with Nordstrom's CEO, who informed him he wasn't sure if his store could stay open in downtown Portland. Why? Portland has never recovered from the Black Lives Matter riots of 2020 and the ongoing explosion of the homeless population.

If Nordstrom left, it would be following the lead of REI, the recreational gear company that exited last year due to robberies and theft. During the same period, Walmart and Macy's also closed all their stores.

Ironically, it wasn’t long ago that Portlandlandia was a shopping Mecca in the Pacific Northwest in part because, unlike Seattle, it had a zero sales tax.

But Portland's demise is a reminder that lawlessness is one of the worst taxes of all.
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6) Stop Hogging the Covers

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