I'm going to be honest with you — sending this makes me nervous. We traveled
into the Utah desert to film what we thought was the dying breath of American
energy. What our cameras caught on the other side of that site is something
we've been legally discouraged from describing in writing.


 


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Sep 2, 2026



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I'm going to be honest with you — sending this makes me nervous.

We traveled into the Utah desert to film what we thought was the dying breath
of American energy.

<[link removed]>
What our cameras caught on the other side of that site is something we've
been legally discouraged from describing in writing.

Three separate people told us not to publish this footage.

We're publishing it anyway — because what's coming out of that ground could
represent thelargest economic revival this country has seen in a century, and
the people who stand to lose the most from that are counting on you never
finding out.

Click to learn more
<[link removed]>
 

 


Today's Market Update For You
JOLTS Showed 7.271 Million Job Openings in July — Below the 7.3 Million
Estimate — With June Revised Down by177,000, Flagging Another Potential NFP
Miss When the August Employment Report DropsFriday at 8:30 a.m. ET
The July Job Openings and Labor Turnover Survey, released Tuesday by the
Bureau of Labor Statistics, showed7.271 million open positions — landing below
consensus estimates ranging from7.33 to 7.36 million — with hires holding
steady at roughly5.1 million, separations flat at a matching level, and quits
falling to3.056 million at a 1.9% quits rate. The headline miss is the smaller
part of the story. The more significant detail is the revision: June openings,
originally reported at7.359 million, were marked down by 177,000 to 7.182
million — the largest downward adjustment since 2025 — extending a pattern in
which the initial JOLTS reading consistently overstates the underlying demand
signal. Professional and business services hiring fell by188,000 in July, a
sector-specific deterioration that stands as the softest detail in an otherwise
steady-on-the-surface report.

The analytical implication for Friday's August nonfarm payrolls release is
direct. JOLTS is a lagging indicator — Tuesday's data describes July, while
Friday's print covers August — but the pattern of downward revision establishes
a baseline. July's−23,000 nonfarm payrolls print arrived after a June JOLTS
reading that was itself later revised down; the June revision now confirmed in
Tuesday's data is the most telling signal that the underlying labor market
softening is more pronounced than initial prints have conveyed. Consensus for
Friday's August report is centered on+55,000 to +60,000 jobs added — a rebound
from July's decline but still well below the pre-conflict monthly average —
with the unemployment rate expected to tick from4.1% to 4.2% as labor force
participation recovers and average hourly earnings projected to slow to3.1%
year over year. The labor data corridor — JOLTS Tuesday, NFP Friday, CPI
September 11, FOMC September 16 — compresses every remaining Fed signal into 15
days.
July JOLTS — The Numbers and the Revision Problem


July Job Openings (Actual)7.271Mvs. 7.300M–7.360M estimate; pro & business
services hiring −188K
June JOLTS Revision−177KLargest downward revision since 2025; from 7.359M to
7.182M — pattern of overstating demand

Friday Aug NFP Consensus+55K to +60KRebound from July's −23K; unemployment
rate expected to tick to 4.2%
Data Corridor to FOMCJOLTS (Sep 1) → NFP (Sep 4) → CPI (Sep 11) → FOMC
decision (Sep 16)Every remaining Fed signal compressed into 15 days
Friday's NFP — Four Scenarios and What Each Means for September 16

August NFP Outcome Fed and Market Implication

Strong rebound (+100K+)September hike odds rise toward 70%+; CPI becomes the
final arbiter
In-line (+50K–+70K)Odds hold near 57%; CPI September 11 remains the deciding
data point
Soft miss (0K–+30K)Hike odds retreat toward 40–45%; MUFG and Goldman hold
thesis validated
Second negative print (below 0K)September hike effectively off the table;
Barclays forced to reverse call; Nasdaq rallies sharply
The JOLTS revision pattern suggests the August print carries a
higher-than-usual miss probability — but the quits rate at 1.9% and stable
layoffs confirm the labor market is cooling without collapsing.
The quits rate of 1.9% is the most structurally informative number in
Tuesday's release. Quits are the leading indicator of worker confidence —
people only voluntarily leave jobs when they are confident better opportunities
are available — and at1.9%, the rate sits at its lowest level since early 2021,
well below the2.5–3.0% range that characterized the tight labor market of 2022
and 2023. A low quits rate implies lower wage growth pressure: workers not
actively shopping the market do not have the leverage to demand substantial pay
increases at renewal, which is the transmission mechanism the Fed is relying on
to bring wage-driven services inflation back toward the2% target. If the quits
rate has genuinely settled at1.9% rather than temporarily dipping, the wage
inflation channel is already doing what the Fed's rate hikes were designed to
force — providing a structural argument for the hold camp that the data, rather
than further tightening, is doing the work.

Sources: BLS JOLTS Release · Crypto Briefing · FXStreet · PNC Economics ·
Financial Juice


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