Today’s job report shows a loss of 92,000 jobs in February. My conclusion from Trump’s overhaul of the department that compiles these statistics has been that we’d be receiving reports that “showed” the jobs situation as being considerably better than what the prior method would have produced. If the best the new guys can do is to show a considerable jobs loss for the month, this says to me that the domestic economy is in considerably worse shape than I’d thought.
I also find it striking that the Trump narrative on Iran has shifted so quickly from bombing to invasion.
Oddly enough, the US market is showing relative strength since the attack on Iran has begun. This seems to imply that the damage Trump’s Iran policy is doing to the rest of the world will be greater than the harm to the US. Presumably, this is because of Iran’s increasing production of easy to refine light sweet crude.