The Economy Looks Far Worse Than Anyone Could Ever Imagine! Summary!

James Kaufman World News report today. Ladies and gentlemen, the economy looks worse than anyone can imagine. I'm going to give you a quick summary. ConocoPhillips announced today that it would slash up to 25% of its workforce. This means the largest independent oil and gas company in the nation will slash over 3,000 quality jobs that provide health care and other benefits to the families and employees that work there. Other oil and gas companies and big tech companies have been doing the same, as many of you already know. Now, this stated that for the first time since 2021, there are more unemployed job seekers than job openings, according to government statistics. But remember, the government says only 60% of job seekers are still being counted. i.e. as participating in the job market. No one that's been unemployed for longer than six months is counted as a participant in the job market. These statistics look much more dismal if you start comparing the quality of full-time jobs that are being eliminated versus the part-time jobs. that have been created over the last six months. You know, the jobs that don't provide a living wage and have no benefits or health care. But remember, more importantly, 40% of the people seeking jobs aren't even included in any of these statistics. More than 806,000 job cuts in the non-farm payroll category. including layoffs and firings have occurred since January 1st 2025. this number already surpasses all of 2024. yes ai is contributing to job cuts in certain areas particularly in telecom entry-level jobs and tech related roles layoffs in the telecommunications sector have increased by 1,228 percent in July 2025 alone. All of these jobs are being replaced by AI. Non-farm payroll jobs increased a total of 14,000 jobs after being revised in the month of June and only 19,000 jobs were created in May after revisions. These jobs being created are not jobs that you can live on either. These are part-time, non-living wage jobs working for pennies with absolutely no benefits whatsoever. Can you imagine going from making $150,000 or $200,000 a year with a vacation perhaps and benefits to making $12 an hour at the local fast food restaurant? Which is far from a living wage, right? More importantly, the full year revision is coming up September 9th, just a few days away. And if we're correct, it will show that another 600,000 to 900,000 in jobs that were never there and were simply imagined by the Biden Department of Labor and Statistics. Crazy. The strangest part of this is we're told government is really cracking down and cutting its waste and overhead, and you probably assume the above is a result of those measures. But the jobs above have nothing to do with government jobs and are non-farm payroll jobs only. A total of 84,000 federal government jobs have been eliminated since January 21, 2025 through July 2025. But this was offset by state and local government job creation big time. State and local governments are the only ones hiring. In June alone, 73,000 government jobs were created at the state and local levels. Wiping out any federal savings, and now in July, it is estimated that thousands more jobs will be added, with some estimates coming in as high as 80,000 new jobs. Get ready, we're all about to be on the streets, and I sure don't know whose tax money we'll be paying for all these new state and local government jobs, as I'm sure Trump won't be giving up his tariff money anytime soon. We better get that 50 basis point rate cut tomorrow, or it will be all over, except for the crying. Please, folks, share this article. Please subscribe if you haven't. And always remember, anything's possible in Bizarro World.