The Adam Mockler Show - Fox Hosts Realize Trump's BAD NEWS LIVE!

Episode Date: December 3, 2025

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Republicans should be running for the hills this morning because the blue wave is building, my dear friend, Mr. Berman. Small businesses are suffering under the Donald Trump economy, and that is just the tip of the iceberg. Fox News hosts were shocked by an ADP private payrolls report that came out earlier this morning that missed the mark in a really unexpectedly horrific way. Economists were expecting private payrolls to increase by about 40,000. to show a recovering economy, but we missed the mark so hard that we showed negative 32,000 jobs mainly concentrated in small businesses who cited tariffs as the number one reason they are stretched in and have to lay people off or can't hire more people onto their staff. See, tariffs disproportionately hurt small businesses because they are a tax on goods that are

imported by businesses, and those small businesses only have so much capital. so it disproportionately eats in to the limited capital they have, and they can't use it to hire other people. That hurts downstream. We'll dig into the Fox News report in one second, but let's listen to the news being broken just a bit ago. Hey, Joe, yeah, a big miss on the ADP payrolls, the private payroll company saying private payroll shed 32,000 workers in November.

That's the fourth negative number in the past six months for this series. Take a look here. The estimate was for 40,000, so the street was off on this one, And how did you get there? Well, goods producing, shed 19,000 workers, service producing, shedding 13,000 workers. But the big story here, and I'll show you more detail on this, is what's happening with small business, down 120,000. Not good. Keep in mind, we had a steady-handed recovery. The economy was nowhere near perfect when Biden left office, but inflation was lower on Biden's last day than it is now. You have to uniquely be trying to mess it up to increase inflation after it's going. down. Trump administration officials struggled to spin this, but Trump himself has been posting

over the past hour throughout these bad numbers, but about random BS. He said for years, the Biden admin weaponized the justice system against their political opponents. This is just pure projection. You can say a lot of things about Joe Biden and his attorney general, Merrick Garland, but Merrick Garland was not weaponizing the DOJ. Merrick Garland was someone who was very boring in the way that he operated for the better or for the worse. You can argue either. This is all just BS. Trump's talking about they will attack, rob, lie, cheat, destroy, and decimate anyone. I mean, this guy is just freaking out. He then said, such a terrific victory from Matt Van Epps and his wonderful family last night. Dude, he underperformed by like 13 to 14 points. That is not a great victory. This is crazy cope.

While this is happening, Heather Long points out, yikes. ADP employment report shows negative 32,000 jobs lost in November. Most industries were doing layoffs. The only one still hiring are hospitality and healthcare. Look at employment by firm size. There is a case-shaped economy among firms, too. Larger companies are still hiring. Smaller firms are doing the layoffs. It's been a very tough year for small businesses due to tariffs and more selective spending from lower and middle-class consumers. It's incredibly unfortunate. This all really disappoints me, but we warn that the effects of tariffs would be exactly this. Look at it. Howard Lutnik hopping on CNBC smiling. Remember, CNBC just broke the bad news. They just broke the bad news that the economy is doing awfully. And then Howard Lutnik has to come on and spin right after. Take a listen. It's trade negotiations and deals. I do want to ask you about the recent economic data because today we learned that the private sector is losing jobs, small business getting hit really hard, negative number in front of ADP. And one of the reasons that they cite is tariffs.

They cite tariffs in the report, I'm just going to point that out. Guess how long it takes for Howard Ludnik to blame the party that's not in power, the party that doesn't have presidential power or congressional power? So do you worry about some of the economic fallout here as these tariffs really take hold? No, no, it's not tariffs. Remember, you had the democratic shutdown, right? And what do you think happens to small business?

The people who do business with the U.S. government, they know they're not getting paid, so they sort of slow down their projects. So you saw a little bit even of construction of small business down. So the Democratic shutdown hurt the numbers. And then remember, as you deport people, that's going to suppress private job numbers of small businesses. But they'll rebalance and they'll regrow. So I think this is just a near-term event. And you'll see as the numbers come through over the next couple of months, you'll see that all pass.

And next year, the numbers are going to be fantastic. I think because the jobs of building in America, you know, as Donald... Dude, next year? They said day one. They said prices would go down on day one. There'd be 90 deals in 90 days. What do you mean next year? He just spun this so far up his ass that he blamed Democrats in the shutdown for long-term losses in jobs.

As we heard, this is the fourth negative jobs report in six months. And he's blaming Democrats. The spin isn't even like funny anymore. It's just offensive. to my intelligence. Before we watch the next Howard Nutlick clip, let's listen to how Fox News spun this. They immediately said,

oh, look at the stock market is doing well off of the bad news because maybe interest rates will be lowered finally. I mean, how are you going to look at the job market, which affects every American, the job market suffering

and say that's fine because the stock market, which affects a smaller portion of Americans, is doing okay. It's there on the move right now is we just got the November ADP number, is crossing the tape right now. An unexpected loss of jobs. Sherri Casoni, tell us more. We did. We got a loss of 32,000 jobs, which in a way, markets may want it to have seen because

that give me. In a way, people may have actually want to, yeah, maybe a better shot at a rate cut for December or more of a confirmation of that. The expectation was 10,000. They also revised for October up to 47,000 from 42,000. At this point, we're still seeing about an 85% chance of a quarter rate point next week, excuse me. But again, this is the private sector job market, private, you know, this is 500,000 U.S. employers. This is the freshest data that the Fed's really going to get on jobs, Maria, ahead of that decision. A lot of the data is being stifled. And at the end of the day, what she's saying is correct. Due to the fact that the jobs came in very, very poor, people are now putting more money in the stock market because they expect a decrease in

interest rates. But Howard Nutlick will never explain that. He'll just blame it on the Democrats. and say tariffs have nothing to do with it, even though Trump is actively reversing course on his most extreme tariffs. When you walk into the grocery store, you'll see that beef prices are higher, bread prices are higher, you'll see that orange juice prices have gone up 29%. Prices across the board are higher save one or two items. I mean, eggs are an outlier in this case. And this is due to tariffs.

That's why Trump reversed tariffs on the items I just listed. We hear all the time that businesses do struggle with tariffs and the higher costs and the uncertainty that comes around that. And even if you don't think that that's happening, I mean, factory activity shrinking in November by the most in four months. We got a manufacturing report this week. And in that survey, they did cite tariffs as a reason. I mean, this is a sector that was supposed to be helped the most by what you're doing on the trade front. Yes. Look, tariffs, you know, you're overstating.

The fact is, we know, because we've studied it. that prices don't move unless tariffs are above 15%. They just don't move at all because the suppliers and the distributors eat the numbers, and that's why prices stay at the same level. You've got inflation at the same levels, you know, cut to below 3%. I mean, these are key numbers. You hear prices coming down, energy coming down. It's not tariffs.

Is energy coming down? Electricity prices are skyrocketed. Simply a matter of, there's idiosyncrasies and no in, in October with the shutdown, I think you see that pass. It's like this admin is full of cheap salesmen. Listen to how Harry Enten explains the blue wave we saw last night. It's pretty intense. Republicans should be running for the hills this morning

because the blue wave is building, my dear friend, Mr. Berman. What are we talking about here? Well, Van Epps, Matt Van Epps, the Republican candidate, he won it by nine, but this is a district that Donald Trump won by 22 points, 15 points, 17 points. This is a 13-point gain for the Democrats in terms of the margin. An excuse time for Republicans is over because I hear all about these special elections. Oh, the turnout is so low.

It's not representative of what would happen in a midterm election. The turnout last night in Tennessee's 7th District was equal to the turnout in the 2022 midterm election. So the blue wave, it seems to be building right out of center of Tennessee. We need to continue to push every single day, and we will on the Adam Ackler show. I love you all. Make sure you drop a like and subscribe below. It helps out each and every video, and I'll see you in the next one. Peace out.