Weak Jobs Report Draws Criticism; Can Trumpism Survive Donald Trump? | Morning Joe | MSNBC

June 16, 2019 posted by

yeah well President Trump tweeted over the weekend quote if President Obama made the deals that I made both at the border and for the economy the corrupt media would be helling them is incredible and a national holiday would immediately they declare right etc etc etc and then he does his best Rodney Dangerfield by saying I don't get no respect well unfortunately for the president some of his toughest critiques are now coming from the conservative Wall Street Journal editorial board who wrote this about the week job numbers that arrived on Friday mica well he says employers added a mere seventy five thousand jobs last month but even these paltry gains were erased by the Labor Department's downward revisions for April and March job growth has averaged one hundred and sixty-four thousand this year compared to two hundred and twenty three thousand in 2018 and two hundred and seventeen thousand during Barack Obama's second term the jobs trend this year is going in the wrong direction the unemployment rate held at three point six percent that's the lowest in 50 years but workers don't appear to be leaving the sidelines like they were last year the US labor force has lost five hundred and eighty three thousand workers since January the first spring time declined since 2013 as we learned in the Obama years monetary policy alone can't overcome bad fiscal trade or regulatory policy the May jobs report is a flashing yellow light that mr. Trump needs to settle his trade wars and get back to promoting growth again that from The Wall Street Journal editorial board Steve Ratner he that that expression yellow blinking light is an expression that you actually used on Friday before the Wall Street Journal editorial was written we have been hearing despite again numbers that just on the surface look extraordinary 50 year unemployment rate lows and and and and and other other really positive areas of economy we're starting to hear concerns in the markets starting to hear concerns from about blinking yellow lights blinking red lights tell us about this economy what can we expect well that is of course the $64,000 question we're in one of those inflection points where it's really hard to know for sure but what you have going on at the moment are really two factors that are that are interacting in a way that's kind of unfortunate one you have a general economic slowdown going on around the world for a whole variety of reasons Europe is a mess China we talked about a little bit at the end of the previous hour has its own set of challenges and so forth and the US was on a sugar high which you couldn't possibly maintain anyway so you had a drop particularly in manufacturing output in industrial production around the world it's even turned negative in some important countries but then you layer on top of that Trump's trade policies which have completely discombobulated businessman put them in a position of not really knowing how to plan how to organize their businesses how to decide on where their supply chain should be starting to move supply chains out of China and into Southeast Asia all of these are very disruptive practises situations that they have to address and so it is caused a real pulling back even the capital expenditure investment numbers that Trump has been trumpeting no pun intended have started to weaken and so what the Wall Street Journal is saying quite rightly is don't use economic tools as a foreign policy weapon focus on the economy focus on your follow up foreign policy but try to keep them separate and try to remember why at least we the Wall Street Journal will for you which was because of your policies of deregulation and tax reform and thing and promoting trade not trying to curb trade and so it the economy of the world's economy is very much at an inflection point and as I said on Friday if you look at things like the bond market which is a pretty accurate predictor of the future it is flashing if not red certainly yellow lights at this point in terms of the possibility that we could tip into a recession sometime in the neck year and all the implications that has for Trump's re-election because that is of course the one issue that he's been able to promote himself on yeah and Robert Costa you had investors and middle-class Americans going from worrying about the impact on their jobs and on their wallets of a trade war with China – a trade war with Mexico of course tell us about the Republicans response to both of these trade wars it seemed last week that the Republicans were an open revolt so this deal that Donald Trump pulled together with the Mexicans whether it's a real deal or not real deal whether it's a new deal or no deal we'll find out in the weeks to come but was that was that made necessary that quote deal made necessary because of the Republican revolt on the hill about this trade war with Mexico The Wall Street Journal editorial echoes what many of my sources Republican lawmakers heard from the business community in their states in district over the weekend there's a sense that the Federal Reserve and a possible coming rate cut could sustain the market but they really have fear about the trade war both with China and with Mexico specifically with Mexico if you're in the Midwest and in with China as well and on immigration there is some skepticism on background if not always publicly at this moment against President Trump steel because they know that border with the southern border of Mexico 600 miles long and they also know that President Lopez Obrador of Mexico was eager to cut a deal and they're gonna have a wait-and-see mentality they know this White House wants to play to the GOP base the head of 2020 because Congress isn't appropriating much for the wall at all and so they know the president wants to is eager to show action but they also have a wait-and-see approach is this actually going to stop the migration coming up from Central America that's something conservatives are eyeing already it is is this a for the election in 2020 is it really all about the stock market numbers the job numbers the unemployment numbers and is that gonna be what in the end determines where the President Trump gets the second term given that that's what he's run on given that that's what he's played as a big trump card I think so I think they will play a role it's always been the case at least among the chattering classes that it's the economy stupid that matters more than anything I think those real around the kitchen table issues or concerns for everyday ordinary families how they manifest themselves even though we have the lowest unemployment rate however we can describe it folks are still trying to figure out how they're going to pay their pay for college for their kids how they're gonna make sure they have food on the table how they're gonna pay their bills and the like but what I'm interested in in this moment is that this you know Trump truly believes in tariffs he without evidence he believes in the economic value of terrorists tariffs and so what what I'm thinking about is this an ideological dispute within the Republican Party that's now in full view because Trump comes in office in some ways skeptical of what Bannen and others call the globalist right so he doesn't believe in the post-world War two consensus he doesn't believe in the underlying logic that was NAFTA he doesn't believe in the in the philosophy of the economy the global economy so are we seeing here on the front page in the editorial page of The Wall Street Journal the ideological dispute within the Republican Party that is trumpism in full view at this point one of my oh good go ahead go ahead jump I share my obsession quickly I does trumpism survive Trump and to go to Professor glass point you have this ideologically incoherent moment right to go The Wall Street Journal you so want free men free ideas and free good luck free trade right so the free flow of people the free flow of ideas the free flow of goods you know this is not a coherent chapter in that story so to what extent it was this a genuine conversion of philosophy on the part of the Republican Party I think de minimis I think this is a marriage of convenience that they're gonna end up regretting well and John if you go through that checklist of what the Republican Party has stood for what the conservative movement has been about from Edmund Burke through Russell Kirk through William F Buckley through Ronald Reagan it is it's free trade it's free markets it is a challenge to the Russian Menace it is the standing united with our northern Atlantic allies it is all the things well it's it's suspicions I mean whether you're talking about JFK speaking in Berlin Ronald Reagan speaking in Berlin right they believed you use the power of the presidency to promote freedom at home and abroad and not just in warfare but more importantly for those too with their words they stood with the people of Berlin they stood with the people of Eastern Europe they stood for democracies over totalitarianism that has been the core of at least the Republican Party I grew up with the Republican Party that I learned about it you know at the feet of my father that's what the Republican Party that's what conservatism was once about this moment appears to only be about Trump unlike reaganism that's why I don't think trumpism survives Donald Trump you know Joe I was gonna ask you about just that exact point that you just pointed out trumpism John use the phrase trumpism as if it were an ideology attributable to the Republican Party it's a series of symptoms symptoms it's not a philosophy it's not ideology it's rooted in ignorant of things around us it's rooted in ignorance of the impact of tariffs the widespread impact of tariffs so my question to you would be Joe I know what his answer would be what happens to the Republican Party when trumpism either fades away dimin he loses whatever what happens to those people who are in our of it right now I think and I do think I agree with your a description of trumpism I also think that it's we would be we would make a mistake to ignore its salience and its power is populist power to move people because it's so elemental it's nativist it's in a phobic I mean so these are recurring features in American life that ebb and flow right now they're flowing we need to find a way to ebb my own sense historically is this is entirely about characters destiny this is entirely about who steps forward to be the post trump figure and I think we all know I have no specific knowledge here but just watching it the day after the 2020 election win or lose for the president Mike Pence is going to be trying to cash in these chips you know he has he is there's a you know he is put into this guy in a bear hug and he's gonna want something back it seems to me and so what who are the people who will step forward and say we want a restoration drama we want to make America truly great again whatever the phrase is I think it depends I think the future the problem party depends on who steps forward to lead it but I also there were there would sorry go ahead I was just saying I also think Mike that part of what is going to say to these people who are for Trump at the moment who believe in from that it really didn't work out so well is what's going to happen likely to happen in the economy over the next year year and a half and I think we're going to get to the next election and you're going to have Democratic candidates and maybe even some saying are you really better off than you were four years ago the economy is going to be slower there's a possibly gonna be in recession and most importantly there's literally nothing in Trump's policies that help the people in Pennsylvania and in Michigan in Wisconsin who elected him he's not made them better off by one iota and I think they're going to find themselves that this is not really what we signed up for and that's an uncontrollable element right yeah there is and you you have people that right now are grasping they've been grasping for the past 15 16 years searching for hope so many people who voted for Donald Trump across those states we keep mention also voted for Barack Obama in 2008 they voted for George W Bush in 2004 voted for Democratic congressman who helped elect Nancy Pelosi speaker in 2006 two years after electing Barack Obama in 2008 elected the tea party to Congress to check him in 2010 two years after that of course they went back we elected Barack Obama to check the Tea Party two years after that they elected Republicans again to check Barack Obama and the Donald Trump got elected in 2016 but you talked about Mike Pence I can tell you what's going to happen to Mike Pence the same thing that happened to george w bush's people that were all around him they will not be welcomed into polite society inside or outside of the republican party is mica as you know because unfortunately you had to read them I've written three books and they're all the same book right and they all talk about how republicanism and how conservatism fails when they spend too much money when they become big big government Republicans well you know and so many other people know the grief I caught from 2004 through 2008 for criticizing george w bush i was hammered incessantly guess what january 21st 2009 suddenly everybody agreed with me conservatives agreed with me republicans agreed with me of course they didn't say we were wrong for kicking you-know-what out of joe for the past four years but suddenly it was safe to say what i had been saying for four years once george w bush left and another conservatives were saying at The Wall Street Journal editorial page in 2004 already talking about big government republic ism on the pages of The Wall Street Journal editorial page in 2004 so there were a few other conservatives criticizing Bush's big government republicanism me get the same thing will happen here Donald Trump right now was in power he will not be in power at some point and when that happens this quote restoration will come as easily as let's say a nikki Haley nomination or a Marco Rubio nomination trumpism lives and dies politically with Donald Trump there is no second act there is no future this is a man who supported gun control his entire life this is a man who supported the bank bailouts this is a man who supported abortion his entire life this is a man who in 2009 think about this in 2009 talked about nationalizing the banks I'll say it again a decade ago Donald Trump supported the big Wall Street bank bailout and even said he would be fine if the federal government nationalized the banks there is no trumpism after Trump because Donald Trump believes in nothing other than power and when that power is gone trumpism evaporates with it thanks for checking out MSNBC on YouTube and make sure you subscribe to stay up to date on the day's biggest stories and you can click on any of the videos around us to watch more 4 Morning Joe and MSNBC thanks so much for watching


38 Replies to “Weak Jobs Report Draws Criticism; Can Trumpism Survive Donald Trump? | Morning Joe | MSNBC”

  1. Pete says:


  2. Cort says:

    The economy is working great, for the richest people in the country, in terms of the stock market. The average middle class, working class person in the country, is swimming in debt.

  3. markman manmark says:

    satan's news channel

  4. Billy Boy says:

    Man all of you trump haters are a hate group. Spread hate like a cancer for what? None of you even voted before he ran.

  5. Bonnie McCormick says:

    He only believe in himself not doing what's right.

  6. Bonnie McCormick says:

    Obama doesn't give hoot what that man think about him. He seem to be obsessed with President Obama and jealous.

  7. Robert Cronin says:

    Trillions of dollars later and nothing to show for it…

  8. William Saunders says:

    This clown lives in constant fantasy

  9. sunshinethrutheice says:

    I gotta wonder why Joe is so hung up on the Republican party of the past, especially his precious Reagan. The Republicans keep voting in celebrities (Reagan, Schwarzenegger, Trump) because the party policies and ideas only benefit the rich and have done nothing to improve the middle or lower classes. In order to dupe the public they find celebrity showmen who can razzle-dazzle the ignorant voting public while they destroy the country from within. Does anybody in their right mind believe that when the Dems get in that these so called "fiscal conservatives" won't be shouting we need to balance the budget now and it shouldn't matter that we blew the budget out of the water during our tenure. Yes, even Joe's precious Reagan blew up the budget. And how do they want to balance the budget, why by taking away money from education, health care, veterans, infrastructure, etc…but God forbid, don't touch the military industrial complex..we gotta keep that war machine running. Vote for Sanders or Warren and put the fear of retribution in these Republicans, they so deserve to grovel at the feet of the middle and poor of this country, their time is over.

  10. T H says:

    It always takes a year or two for the effects of fiscal policies to actually show up. Trump spent the start of his presidency taking credit for Obamas recovery post economic crash.

  11. ShelliSnowpig78 says:

    Cannot unsee the vagina-neck on the thumbnail!!!!!!!

  12. James Thompke says:

    I am not trying to figure how I will be able to retire, but when I will end it.

  13. Steve Pax says:

    now republicans have to go after children because everyone else knows what a sham of lies deceit and avarice those opportunists are

  14. Betelhem H says:

    Somethings not right we know Trump has all his loyalist in key positions and one of the things Trump said frequently during Obama era how the employment numbers and economics numbers were doctored or cooked up. We now know Pres Trump is that type of person that blames other for things he may be guilty of himself. So it now time to take a closer look at the real numbers.

  15. Brenda Buchanan says:

    Just shows he has been riding on obama's coat tails can you imagine if he would have taken office after Bush where we would be😨

  16. Alta Montgomery says:

    I'm saying that's what I'm saying Mika under this president did jobs in our businesses are leaving by the doesn't look at all the companies that went out of business when Donald Trump took off this look at the auto industry at the Obama got us out of a recession and brought that Auto industry back look how many people are losing jobs deer look at the farmers who can employ anybody the jobs and leaving look at the gas prices look at high gas prices is look how high are food prices is we are in worse shape than ever before and it's going to get worse under this administration because the only people he's catering to is the wealthy businessman corporations oil companies in big business companies he's not catering anything or doing anything for the middle class in the working-class we still working two to three jobs to make in meats we need somebody in that white house who is going to past taxes for us the middle person not the top 1% this already rich and wealthy in that business person we had suffered under this administration and it then got so worse and it's getting worse so you can hardly make ends meet

  17. Querent2000 says:

    Back to the Repig Normal. Now that Trump has done what he can to sabotage the economy, the Obama upgrades just aren't woking anymore.

  18. redstart67 says:

    Obama was never given the credit he deserved for taking an economy he inherited that was in deep recession & verging on a worldwide depression after the global crash of 2008 & turning it around with his economic stimulus that returned the US to stronger economic growth than any of the austerity policies followed by the EU or UK managed. His trends have persisted into Trump's term when Trump lost no time in claiming them as his own achievements & the political spin from the Republican party was only too happy to criticize his amazing economic turnaround & then claim the results as their own, simply to get the tax cuts for the wealthy passed! All the economic trends set in motion by Obama are hailed as Trump's achievements when all they really have done is explode the govt deficit with the tax cuts & also explode the trade deficit & blow the increases in the stock market with Trump's disasterous tariff wars & economic ignorance! Jobs trends, stock trends, etc were all set on motion years before Trump with only the Republican rhetoric changing but the political partisanship will not be remembered by history as economists of the future will hopefully give Obama's administration the credit they deserved for avoiding a worldwide economic depression, saving the American automobile industry & repairing the runs of the economy left by the previous Republican administration, with its tax cuts & two unpaid for wars, even before the global crash caused by deregulation of Wall street! The ONLY thing that current Republicans seem to care about were the tax cuts for the wealthy, with everything else, even the Tea Party bleating about govt debt & the deficit suddenly vanishing from their concerns?! America can't even be honest about things that can so easily be checked which allows any two bit huckster on Fox to spin things in the most preposterous manner & Trump to try & talk up his "record breaking economy" as all the indicators, such as poor jobs figures, tanking stocks & exploding deficits in trade & govt debt, all tell a very different story but so long as the wealthiest got those tax cuts, they happily play along with the Fantasist in Chief & his secret trade agreements, even as he explains that Kim is "only firing off little missiles, so that's fine" & Mexico has agreed amazing terms that are secret!!!! How much BS can you all take over the pond? The rest of the world sure doesn't buy it, which is why Trump gets so upset if he can't have Fox on permanently! And he accuses others or pushing Fake News?!!! Astonishing!

  19. Irene Pearse says:

    Trump is very dangerous, he will not win the next election and there will be problems

  20. Shala Taebi says:

    There's no philosophy or ideology to Trump. Tariffs for Trump is a tool for threat, punishment, and bullying. That's all he knows how to do.

  21. Chris Estrada says:

    AMERICA WILL BE GREAT AND BETTER AGAIN AFTER WE GET RID OF TRUMP ASAP!!!!! The people did not put Trump in power Russia did and now its time for the people we have representing us on both sides Democrats and Republicans to get him out!

  22. madboyreadynow28 says:

    The media and Republicans keep pushing Jobs and stock market but us regular Americans dont see the benefits of any of this. All we know is were working our a$$es off and many of us working several jobs and a ton of over time to make more money and still it's not enough. We want the pinch and squeeze to end. We are killing ourselves working and working and have nothing to show for no time to spend with our children. We need prices to go down from car payments to housing and food. These tariffs are making the price of everything to go up. We can't take 4 more years of Trump.

  23. L B says:

    I wonder when will Donald’s deaf, dumb, blind sheep will understand, Don the Con is for no one but himself.

  24. james fiaco says:

    The Russians are providing the North Korean with their Internet.  So what we should be preparing for is a cyber attack that shuts down all our power grids.  Just imagine if our nuclear facilities didn't have the capabilities of cooling down the core we would have a meltdown.   Just imagine since all our power grids are electronic what it would be like if we had no power from coast-to-coast for three months.  Will be worse than the people that had to live the dark ages.  Just imagine if we didn't know where to ship any of our supplies especially medical.   Cyber warfare is cheap effective fast efficient extremely devastating.  Trump is making it a lot easier for these countries to be able to dominate America for the first time throughout its history.

  25. Sharon Rinkiewicz says:

    MSNBC you are clueless about the economy. Most people don't have stocks, so don't point to the stock market. Low unemployment rates are not reliable. If you factored in people who gave up looking for a job, if you factor in the underemployed, ect the actual unemployment rate would be about 25%. How is that good?

  26. LovinLife says:

    Many of the Trump Supporters being hurt by Trump's policies still support Trump and willing to vote for him again in 2020. Thanks to the Electoral College, Trump could very well win again if Americans Voters refuse to come out and vote like they did in 2016.

  27. Leslie Killam says:

    They don't give brownie buttons to liars.

  28. Kano71 says:

    Progressives have a plan that will drive millions of exciting high value new jobs.

  29. Jamaican Voodoo Posse says:

    What deal has he made ?

  30. Kano71 says:

    Record deficit that trump increased 2 trillion with his corporate wealth fare giveaway and declining jobs. There is a very very bad time coming for America. Most Americans are living paycheck to paycheck so when this recession hits it will be catastrophic for most Americans.

  31. Tixe 100 says:

    trump still thinks the Central Park Five are guilty.
    trump and his party puts children in cages to suffer and die alone.
    trump doesn’t understand government and doesn’t respect the Americans who actually make it function.
    trump lies more than any person that any of us knows.
    trump and his party gave America’s fiscal and natural resources to a few wealthy people.
    trump and his party don’t respect the law, whether scientific or established by mankind.
    trump and his party will damage the economy and the Democrats will repair it but hold no one to account, as usual, ensuring that the cycle will continue.
    These new House members have their work cut out for them—they’re the future, time is short, and they know it. I’m with them.

  32. Adam Duncan says:

    when is the billionaire money gonna start tickling down?

  33. C Ger says:

    trump is a small time crook in an arena of professional mob bosses

  34. Robert Montano says:

    And the final answer is ! We cannot go the way of his casino" s and his marriage'' his totally miscreant life . I e . Impeachment Now !

  35. Anthony Butler says:

    The end result of erratic and ill advised Policies is disaster; America will be paying for Trump's incompetence for years to come…

  36. David Edwards says:

    The thumbnail confused me. I thought this was a documentary on WWII Italy, and the picture was Mussolini.

  37. Herschel1738 says:

    In democracies, we tend to declare national holidays for national events (July 4th) or groups of national importance (President's Day, Memorial Day). It is SOP for narcissistic dictators to want a holiday declared for themselves PERSONALLY. So, I declare April 1st "National Trump is a Stable Genius Day."

  38. abraham oriowo says:

    I said this in June last year when the idea of TRUMP USING TARIFFS bluff for a dumb purpose I said that he will run the Economy to a recession
    it sounds like I was talking rubbish and the idiots that keep deleting my comments from CNN MSNBC. Why are people really think TRUMP has a basic Economy knowledge he doesn't. He is the most ignorant you will ever get in the economy if as a businessman you are Bankcroft 4 times is that a sign of knowing how successful business operates. I heard one of the fools that was cheering him up telling porkies that China is paying the 25% Tariffs really this how ignorance the people that surrounds him is. If the big USA want to fight back, the remedy is what America is been good at which is what basically international trade is all about what you are good at against other countries and what is it, TECHNOLOGY that is the USA POWER. That is the only way you can win the war, not by Tariff. When you see a fool like Trump putting down renewable revolution where American should have lead the race Trump madness has pull all the gain backward to Coal imagine that. Mark my words there is a lot of porkies
    that is coming out of White House that is very disturbing like Trump doesn't understand the role of RESERVE BANK when he said he wanted to be
    dictating their function that is just to show how ignorant he is. American people, you need to get Trump and his ignoramus Cabal out of Government. May the USA succeed Peace!!

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