Fake News Eating Crow Again
A blockbuster U.S. jobs report showing 162,000 jobs created is contrasted with Canada’s 40,000 job loss under Mark Carney. Treasury Secretary Scott Bessent tells Steve Bannon that Wall Street and major outlets like the Financial Times and The Wall Street Journal stoke economic panic and spread “fake news.” Bessent cites a misframed story about Norway’s sovereign wealth fund shifting from Treasuries into higher-yield Fannie and Freddie securities.
The episode frames today’s challenge exiting from a “Red Queen economy.” America must grow productivity fast enough to outrun debt, China’s advances, and infrastructure and skills obsolescence, all while coping with Biden-era inflation and spending. This spotlights the Trump administration workforce initiatives, including expanded training and Pell Grant use and the new Foundry School—an advanced manufacturing program with a Stanford curriculum and international PAX Silica partners.
Finally, it covers President Donald Trump’s executive orders aiding ranchers’ beef processing and the Department of Justice antitrust scrutiny of major meatpackers and retailers. Here’s more from Promethean Updates.
