Payrolls Crashed and Markets Hit Record Highs Anyway

Solving America's Problems · Aug 10, 2026 · 15m

Payrolls fell 23,000 in July against a consensus near +80,000, and the unemployment rate dropped anyway. Jerremy Alexander Newsome and Dave Conley read that as a labor force shrinking by 264,000 rather than a job market healing. Dave ties it to people leaving the country entirely — which pushes inflation up, not down, especially in skilled trades and services. Diesel, gas and jet fuel now run 45% above February, and Iran has named its price to reopen the Strait of Hormuz: lift the naval blockade, withdraw forces, pay war reparations, release frozen assets. Google reported $9.11 earnings…