Today's job numbers are bad. There's no getting around it. So Donald Trump reacted to this bad news by immediately firing the messenger. Which is really bad. "Banana republic" bad, in fact. We should all expect Trump to name the next head of the Bureau of Labor Statistics who will then dutifully report next month that "in August, America added eight million new jobs, thanks to our Dear Leader's brilliance." Because that is obviously what Trump wants to hear, instead of any proof that the fantasy world he inhabits in his head is rosier than the actual reality in which the rest of us live.

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The next few weeks could be fairly pivotal for the U.S. economy, with new monthly economic numbers being released telling us where we are now, while perhaps new tariff numbers will be imposed by the end of the week which may tell us where we are headed with the rest of the world. All of these outcomes hinge mostly on how Donald Trump's big trade war with the rest of the planet continues to play out.

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It's not exactly front-and-center in the news, but Republicans have entered a budgetary crunch time in a big way. The outcome is going to be extremely significant to hundreds of millions of Americans, but reporting on it is time-consuming and detail-oriented, so it's a lot easier to just chase whatever shiny object Donald Trump trots out for the press instead.

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Next month, America will celebrate its 249th birthday on July 4th. But the rest of the world will be much more concerned with what happens five days later, on July 9th. That is the deadline for Donald Trump's 90-day "pause" in what he calls his "reciprocal tariffs" on the rest of the world. Either countries have a new trade deal in place with the U.S. by that date, or else steep tariffs will once again be imposed upon them.

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This week, Wall Street figured out something about Donald Trump (that Vladimir Putin has known for quite a while now) and gave it a catchy name: "TACO." This stands for: "Trump Always Chickens Out."

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There are two basic ways to successfully deal with a bully: you can stand up to him, or you can laugh at him. Wall Street is apparently now taking the second route, as traders openly ridicule Donald Trump.

There's a new acronym making the rounds on Wall Street: "TACO," or (more specifically) the "TACO trade." It stands for "Trump Always Chickens Out," and it refers to the resilience of the markets after a cycle which is becoming more frequent in Trump's tariff war. The cycle starts when Trump, in a fit of pique, announces insanely-high tariffs will be levied. The market then tanks. Trump then backs off and announces he will be "pausing" the tariffs, or severely rolling them back. The market then gains back what it had lost.

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Once again, the Republican Party has laid out its real agenda, in the form of a federal budget. And once again, they have proven what their real priorities are: cutting taxes on the wealthiest Americans no matter what -- no matter who has to pay for it, or how.

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If you'll check a historic calendar (which is easy enough to do), you will clearly see that there are three possible days which could validly be celebrated as marking the end of World War II. They are: August 14th, August 15th, or September 2nd. The initial announcement of the surrender of Japan was made on August 14th, in Japan. Due to the nature of time zones, this happened when it was August 15th in America already. Then the formal surrender, which happened on the deck of the battleship U.S.S. Missouri, was signed on September 2nd. The president at the time, Harry Truman, announced the United States would celebrate what was known as "V-J Day" (for "Victory over Japan Day") on September 2nd. So that would be the most likely day you'd expect any subsequent American president to announce as a new semi-holiday, since it was when World War II actually officially ended. But you'd be wrong.

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Donald Trump hit two milestones this past week: his first 100 days in office, and his first quarter of negative G.D.P. growth. True to form, he celebrated the first of these with a rally, while blaming the second on Joe Biden. He even tried to front-load any bad economic news in the second quarter as Biden's fault too. Oh, and for good measure, Trump expressed a desire to become the next pope. Which would probably be fine with plenty of Americans -- as long as he quits his current job in order to do so.

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Which brings us to Trump's strongest point, albeit one where his polling is also falling fast. On the subject of the southern border, the public does approve of what Trump has been doing. But on the larger subject of immigration, Trump is underwater in most polls, after starting out his term with those numbers in the positive ranges.

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