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riversedge

(77,473 posts)
Sun Aug 10, 2025, 08:33 PM Aug 10

'Highly dangerous': Trump nominee says president's new move will backfire on the economy

Source: raw story



David McAfee August 10, 2025 9:27AM ET


A Donald Trump nominee came out swinging on Sunday against the president and a White House economist, saying their recent actions could be "highly dangerous."
........................

But the numbers provided by Moore are suspect, according to his "good friend" and fellow Trump appointee.

"Beach—who Moore said he’s known for 30 years and calls a 'good friend' —called those numbers 'the strangest thing in the world,'" according to the report, which noted that Beach "found problems across the board."


......................

"Trump’s suspicions are more than just puzzling, Beach said. They were also 'highly dangerous.' Markets rely so heavily on trust in the jobs report data, he said, that the damage from Trump’s words and actions has likely already happened," according to the report. "Drawing on his experience in the private sector, he explained that uncertainty in some metrics forces business leaders to widen their 'margin of error' when making investments, which can kill deals. If companies doubt the accuracy of federal statistics, he warned, they’ll eventually turn to alternative measures."....................



Read more: https://www.rawstory.com/trump-highly-dangerous-backfire-economy/

17 replies = new reply since forum marked as read
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Irish_Dem

(73,702 posts)
1. Trump is directly benefiting from crashing the economy.
Sun Aug 10, 2025, 08:48 PM
Aug 10

He does nothing unless it helps him personally.

bluestarone

(20,172 posts)
2. I believe that he has a goal to completely destroy our country.
Sun Aug 10, 2025, 08:57 PM
Aug 10

The only people that have the power to stop this BULLSHIT, have there head in the sand, and don't give a dam shit what happens.

Irish_Dem

(73,702 posts)
3. He wants to steal as much money as possible.
Sun Aug 10, 2025, 09:06 PM
Aug 10

And to ruin the US as ordered by our enemies.

And the billionaires want access to US assets as well.
And to be allowed to break the law to scam citizens.
And tax cuts.

Irish_Dem

(73,702 posts)
5. Putin loves starting civil wars in various countries.
Sun Aug 10, 2025, 09:10 PM
Aug 10

The citizens destroy themselves from within.

slightlv

(6,493 posts)
9. I believe the only people who could stop the bullshit are deeply invested in the bullshit, themselves.
Sun Aug 10, 2025, 10:11 PM
Aug 10

The rich always find ways to make money on tragedy and disruption. trump just takes more off the top first.

Irish_Dem

(73,702 posts)
14. Exactly, they are not protecting Trump. They are protecting themselves.
Mon Aug 11, 2025, 05:20 AM
Aug 11

Their wealth and power are the only thing that matters.

wolfie001

(5,971 posts)
6. repuke rubes are such base masochists
Sun Aug 10, 2025, 09:13 PM
Aug 10

I think they like getting abused especially by millionaires and billionaires. Sick mf'ers.

Wiz Imp

(6,750 posts)
7. Stephen Moore must be the most dishonest "economist" in the world.
Sun Aug 10, 2025, 09:54 PM
Aug 10

In this case, he's even more dishonest than Trump, because Trump is legitimately clueless about the numbers. Moore knows the process for developing the numbers and is dishonestly manipulating the numbers himself to make a point that is 100% false. William Beach is correct - The first bar—labeled as an August jobs revision—used a preliminary estimate that was later revised downward in February, meaning the number on the chart didn’t match the official final figure, Beach said. Beach also argued the benchmark revision figure on the chart was incorrect and didn’t align with BLS’s published data. The last bar, labeled “total revisions,” was mathematically flawed, he said, because it added benchmark revisions to monthly revisions, even though the benchmark already incorporates those monthly changes—“like counting the same apple twice and pretending you had two.” Moore knows he's lying but doesn't care - that's the point. Trying to get people to believe the lies is what's important to him. To hell with the truth.


You want a real conspiracy? Additionally, during the press conference, Moore said the income figures came from unpublished Census Bureau data. So how the hell did a non-government employee get access to non-published Census data? That is truly scandalous.

Wiz Imp

(6,750 posts)
11. More dishonesty from Stephen Moore
Sun Aug 10, 2025, 11:08 PM
Aug 10
https://www.cjr.org/united_states_project/stephen_moore_heritage_foundation_paul_krugman_kansas_city_star.php
Moore had written:

No-income-tax Texas gained 1 million jobs over the last five years; California, with its 13 percent tax rate, managed to lose jobs. Oops. Florida gained hundreds of thousands of jobs while New York lost jobs. Oops.


In any case, Abouhalkah found, Moore’s numbers were wrong even for 2007-12, in ways that complicated the “low taxes = more jobs” message. As Abouhalkah wrote in a column this week:

Texas did not gain 1 million jobs in the 2007-2012 period Moore measured. The correct figure was a gain of 497,400 jobs.

Florida did not add hundreds of thousands of jobs in that span. It actually lost 461,500 jobs.

New York, with [its] very high income tax rates, did not lose jobs during that time. It gained 75,900 jobs.

Oops, indeed.


The Kansas City Star basically banned him from their editorial pages after this:

After errors were found in Moore's data, he sought to correct the errors with different data that were also incorrect. Miriam Pepper, editorial page editor for the Star stated "I won't be running anything else from Stephen Moore."

thought crime

(736 posts)
16. Stephen Moore credibility stands at absolute zero.
Tue Aug 12, 2025, 12:23 PM
Aug 12

Along with Lawrence Kudlow, the Baghdad Bob of economics, anything Stephen Moore says is tainted. His presence just shows the complete corruption of any institution he is associated with.

FakeNoose

(38,442 posts)
15. Thanks for the link
Mon Aug 11, 2025, 09:03 AM
Aug 11

The OP article leads to another link, on the same topic but more about Stephen Moore:

(no paywall) https://archive.ph/1VUMV

" Two Trump-appointed economists—and longtime friends—are clashing over Trump’s jobs data"


myohmy2

(3,651 posts)
10. trump...
Sun Aug 10, 2025, 10:15 PM
Aug 10

...and the capitalists are systematically destroying the economy...

...that must be in the Constitution...

...nobody's doing anything about it...

...

Wiz Imp

(6,750 posts)
12. Moore is not just a dishonest hack, he's a lunatic.
Sun Aug 10, 2025, 11:17 PM
Aug 10

Some excerpts from Wikipedia

Moore supports abolishing the income tax, and replacing it with a national sales tax.

Moore rejects the scientific consensus on climate change. In 2009, he described climate change as "the biggest scam of the last two decades." In columns and op-eds, Moore called those with concerns about climate change "Stalinistic" and has accused climate scientists of being part of a global conspiracy to obtain money via research grants. In an April 2019 interview, Moore said that the Federal Reserve should not consider the economic impacts of climate change in decision-making.

Moore wrote a 2014 Kansas City Star opinion piece entitled, "What's the matter with Paul Krugman?," responding to Krugman's earlier opinion piece "Charlatans, Cranks and Kansas," which had discussed a recent major tax cut in Kansas. Moore said that job creation had been superior in low-taxation states during the five years ending June 2009 following the recession. After errors were found in Moore's data, he sought to correct the errors with different data that were also incorrect. Miriam Pepper, editorial page editor for the Star stated "I won't be running anything else from Stephen Moore."

In a 2014 op-ed in the Washington Times, Moore cited the role of a "culture of virtue" in America's economic success, writing, "What is irrefutable is that marriage with a devoted husband and wife in the home is a far better social program than food stamps, Medicaid, public housing or even all of them combined."

Moore has often expressed support for some variation of a gold standard. In 2015, he declared, "We have got to get rid of the Federal Reserve and move towards a gold standard in this country!" Few economists support a gold standard.

During a 2016 debate on the minimum wage, Moore stated, "I'm a radical on this. I'd get rid of a lot of these child labor laws. I want people starting to work at 11, 12."

n 2018, Moore and Laffer wrote the book Trumponomics, in which they lauded the Trump administration's economic policies and criticized the economic performance of the George W. Bush years. Trump endorsed the book in a March 2019 tweet. In the book, Moore and Laffer argue that the Trump administration's 2017 tax plan would raise GDP growth rates to as much as 6% and not increase budget deficits. In a 2019 review of the book, conservative N. Gregory Mankiw, an economics professor at Harvard University and head of the Council of Economic Advisors under President George W. Bush, described the book as "snake-oil economics," writing that Moore and Laffer's analysis was based on "wishful thinking" rather than "the foundation of professional consensus or serious studies from peer-reviewed journals."

Moore asserted in a December 2018 appearance on CNN that the Federal Reserve was causing deflation in the economy, although Commerce Department data showed there was consistent inflation. In April 2019, Moore asserted deflation was "the whole reason the economy was so poor in late 2018," although inflation was 2.2% in the fourth quarter of 2018.

In September 2018, Moore wrote a Wall Street Journal opinion piece entitled, "The Corporate Tax Cut Is Paying for Itself," in which he asserted that "faster-than-expected growth has produced a revenue windfall." Corporate tax receipts for the fiscal year ended September 2018 were down 31% from the prior fiscal year, the largest decline since records began in 1934, except for during the Great Recession when corporate profits, and hence corporate tax receipts, plummeted.

Moore was married to Allison Moore until 2011. In 2012, a Virginia court held Moore in contempt of court for failing to pay his ex-wife $300,000 in spousal support, child support, and other obligations in his divorce settlement.

In January 2018, the IRS obtained a tax lien against Moore for $75,328 in unpaid federal taxes, interest, and penalties, alleging Moore had filed a "fraudulent" tax return in 2014.

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