Dr. Peter Navarro

The ISM manufacturing index historically has been the gold standard to measuring whether manufacturing in the economy is in expansion or recession.

It's a diffusion index, 0 to 100, and the magic number is 55.

Anything over 50 signals that manufacturing is expanding and therefore manufacturing jobs are expanding.

Now, go back in a time capsule to August 2022.

That was the last time the ISM manufacturing index was above 50.

Biden destroyed our manufacturing sector.

And by the way, buried the lead talking about today's jobs report.

It reveals a total of 2 million jobs that were overestimated by Biden leading in to the 2024 election.

It was arguably the most, how do you call it?

It's like a shell game, unethical, immoral, had the cooperation of bureaucrats,

at Commerce and Labor in order to pull that kind of magic trick off.

And it was total BS.

And the fact that... Here's how I tie this together.

The fact that 2 million jobs were overstated, phantom jobs, explains now why the ISM Manufacturing Index couldn't get above 50.

Got it?

So this is a big deal.

What's been perplexing me, Steve, is why...

The ISM has been underperforming as a good index during Trump years now because all of these other indices, which I mentioned, S&P Manufacturing, PMI, Federal Reserve Industrial Production, Manufacturing Productivity, Durable Goods, they're all pointing to a manufacturing renaissance under Trumpnomics, and that's what we got.

Bottom line is, look, I understand better than most the pain people are suffering, both from inflation and the uncertainty of the job situation.

All we can do in Trump land is provide the best possible policies to stimulate the economy and make sure mega folks, blue collar manufacturing workers and the supply chains that tie into them, including service sector jobs,