Wharton's Jeremy Siegel: There would've been a July rate cut had we known about the weak jobs data

Jeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss President Trump's firing of the head of the BLS, state of the economy, July jobs data, impact on the Fed's interest rate decision, and more.

Donald Trump graduated from the Wharton School of the University of Pennsylvania in 1968 with a Bachelor of Science degree in economics.

7:36

https://youtu.be/O-LtsTnXg-Y

>>23423651

This is important, the Fed sends out surveys to companies to get the data for the report. Over 40% of industries did not respond in time causing the worst jobs report since 1968. The Fed did not do their job to get accurate data so that’s why the jobs report was such a lie and devastating.

The Fed doesn’t even follow up to get it, they have over 380 economic data personnel and they didn’t collect in time.

Trump is right, perhaps they intentionally didn’t collect the data to give a bad jobs report. And maybe they did it for political reasons.

Watch CNBC's full interview with National Economic Council Director Kevin Hassett

White House National Economic Council Director Kevin Hassett joins 'Squawk Box' to discuss President Trump's firing of the commissioner of the Bureau of Labor Statistics following a dismal jobs report, whether the jobs numbers are rigged, state of the economy, impact of tariffs, the Fed's inflation fight, strength of the labor market, and more.

(Kevin knows how to talk to the hair on fire people that are upset Trump said the jobs report could be politically motivated, and useless Janet Yellen makes a nasty statement about Trump)

13:08

https://youtu.be/XTMgOLHRGfA

Expect the S&P 500 to reach new all-time highs in August, says Fundstrat's Tom Lee

Tom Lee, Fundstrat co-founder and managing partner, Fundstrat Capital CIO and BitMine chairman, joins 'Squawk Box' to discuss the latest market trends, state of the economy, the Fed's inflation fight, latest developments at BitMine, and more.

4:29

https://youtu.be/YmOjR9QIrpE

Forge CEO Kelly Rodriques on soaring AI valuations: These businesses are on fire

Kelly Rodriques, Forge CEO, joins 'Squawk Box' to discuss soaring AI valuations, state of the AI race, whether any of the companies will go public in the future, and more.

(For investing anons AI stocks going up and Bitmine BMNR is only at $4.00 today)

6:24

https://youtu.be/0Tj64M4odbY

Tesla approves 96 million-share award to CEO Elon Musk

6:10

https://youtu.be/ndoJF2LWGZA

Taibbi blows open the Clinton Russiagate plot: ‘No doubt anymore’

Racket News editor-in-chief Matt Taibbi discusses how the press has previously covered President Donald Trump

6:03

https://youtu.be/M4BDZe5G9a4

Trey Gowdy: This judge’s order reads like it was written by Jasmine Crockett

Acting I.C.E. director Todd Lyons discusses President Donald Trump's immigration policy and deportation efforts

==why are judges even allowed to make changes to the Article 2 powers of the President?)

6:09

https://youtu.be/5rXMqKk0xkY

Fractures appears within Democratic Party over transgender athletes competing in women's sports

The 'Big Weekend Show' co-hosts discuss the recent shift some top Democrats have shown in their stance on whether transgender athletes should be able to compete in women's sports.

5:42

https://youtu.be/Mlvr-yaXJNw

Merger may hinder free speech for conservative media: Andrew Langer | America Right Now

On Saturday's "America Right Now," Director of the Foundation Center for Regulatory Freedom Andrew Langer warned that the potential merger of Omnicom Group and IPG could threaten free speech by enabling biased advertising practices that suppress conservative media.

7:48

https://youtu.be/wSjmjIWmRvs

4 Aug, 2025 12:32

EU to wait years to replace Patriots sent to Ukraine – NATO

Providing Kiev with US-made air defense systems which are in short supply is “scary,” a source has told Euractiv

Some EU countries providing US-made Patriot air defense systems to Ukrainemay have to wait until 2032 for replacements due to a significant production backlog, a senior NATO official has said.

Ukrainian officials have for months pleaded for more US-made Patriots and ammunition. Vladimir Zelensky has saidhe hopes to receive ten more Patriot systems, with cost estimates for each battery and interceptor running as high as $1 billion and $4 million, respectively.

Several European countries have shown interest in a deal proposed by US President Donald Trump, under which they would transfer Patriot systems to Ukraine and be resupplied by Washington.

However, French Admiral Pierre Vandier, NATO’s Supreme Allied Commander Transformation, told Euractiv that the wait time for Patriot battery deliveries could reach around seven years.

A second Euractiv source offered a more upbeat assessment, noting the shipments could not be expected sooner than “a couple of years” at best.

The lengthy backlog has sparked concern andhesitation in the EU ranks, with one unnamed diplomat admitting that giving up the air defense system was “scary” – even for the sake of Ukraine, which he claimed to be “defending” the bloc.

Germany, which has recently committed to transferring three Patriot systems to Kiev, has reportedly demanded “watertight” guarantees that replacements from the US would arrive within eight months.

Meanwhile, the US push to prioritize NATO’s internal backfill has already impacted non-EU buyers.Switzerland, which ordered five Patriot systems in 2022 and expected the complete delivery by 2028, confirmed last month that it would be delayed for an unspecified timeframe due to US reallocation.

Moscow has consistently condemned Western arms shipments to Ukraine, warning they only prolong the conflict without changing its outcome. It has also accused European NATO of pursuing “reckless militarization” and portraying Russia as an “enemy” to justify a hike in weapons spending.

(How many arms and weapons did Joe give to Ukraine, only for them to turn around and sell them on the black market?)

https://www.rt.com/news/622469-eu-wait-years-patriots-backfill/

4 Aug, 2025 12:08

Kremlin urges ‘careful use of nuclear rhetoric’

Spokesman Dmitry Peskov reaffirmed Moscow’s commitment to nonproliferation after Trump announced a redeployment of nuclear submarines

The Kremlin has urged caution in making public statements involving nuclear weapons, following US President Donald Trump’s announcement that he has ordered the redeployment of two American nuclear submarines.

Last week, Trump said the vessels had been moved to “the appropriate regions”as a precautionary measure. The announcement came via his Truth Social platform.

Commenting on the decision, Kremlin spokesman Dmitry Peskovdownplayed the significance of the move, stating that “in this case, it is obvious that American submarines are already on combat patrol. This is a constant process.”

Peskov added that Moscow would prefer not to engage in such discourse or “get involved in such a controversy in any way.”

“We are very careful about any statements related to nuclear issues,” the spokesman said, stressing that “Russia takes a responsible position” and is “very attentive to the topic of nuclear non-proliferation.”

He further noted that there can be varying views within a country’s leadership on various issues, but emphasized that “the main thing, of course, is the position of President Putin.”

“We believe that everyone should be very, very careful with nuclear rhetoric,”Peskov concluded.

At a press conference on Friday, Trump defended his submarine deployment order by stating that the US “had to do that” and must always be “totally prepared” for any possible confrontation.

Neither the White House nor the Pentagon have released further details about the redeployment.The precise location of US nuclear submarines is classified, making Trump’s claim impossible to independently verify.

(This is a message to Medvedev as much as the U.S. he started the whole thing.)

https://www.rt.com/russia/622465-kremlin-careful-nuclear-rhetoric/

3 Aug, 2025 04:50

Major Russian volcano erupts for first time in centuries (VIDEOS)

Krasheninnikov erupted amid heightened nearby volcanic activity on the Kamchatka Peninsula

The Krasheninnikov volcano on Russia's Kamchatka Peninsula has erupted for the first time in modern history, after a massive offshore earthquake triggered renewed volcanic activity in the Russian Far East, local authorities have said.

The eruption occurred at 4:50am local time on Sunday, sending a 6,000-meter ash column into the air from the 1,856-meter-high peak, according to the Kamchatka Volcanic Eruption Response Team (KVERT).

“This is the first historic eruption of Krasheninnikov in 600 years,”Olga Girina, head of KVERT, told RIA Novosti. She said a lava dome was forming on the slope, with strong steam-gas emissions and a steady ash plume rising from the northern crater.

Named after explorer Stepan Krasheninnikov,the volcano comprises two overlapping stratovolcanoes within a large caldera in the Kronotsky Nature Reserve, about 50 kilometers from the regional capital, Petropavlovsk-Kamchatsky.

The last lava effusion at Krasheninnikov occurred around the year 1463, give or take 40 years. Fumarolic activity was recorded in 1963, but no eruption had been documented until now.

KVERT raised the aviation color code from green to orange and reported that ash had drifted 75 kilometers east. Deposits were observed inside the nature reserve, but none reached nearby towns.

The latest eruption followed an 8.8-magnitude earthquakethat struck southeast of Petropavlovsk-Kamchatsky on July 30, prompting tsunami alerts and evacuations across the Pacific.

In the immediate aftermath, Klyuchevskaya Sopka – one of Eurasia’s tallest volcanoes – also erupted in what officials called its strongest event in 70 years.

Other volcanoes, including Shiveluch, Karymsky, Bezymianny, and Kambalny, have shown increased activity, with the possibility of ash clouds reaching up to 10,000 meters. Authorities have advised nearby residents and visitors to stay at least 10 kilometers away from active sites.

https://www.rt.com/russia/622422-dormant-volcano-erupts-major-quake/

EU will delay planned U.S. tariffs for six months to allow for trade talks

PUBLISHED MON, AUG 4 202510:27 AM EDTUPDATED 8 MIN AGO

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Erin Doherty

@ERINPDOHERTY

WATCH LIVE

KEY POINTS

• lThe European Union will suspend its planned countermeasures to President Donald Trump’s tariffs, which were set to take effect on Thursday.

• The suspension marks a concession from the 27-member bloc, which is among the United States’ largest trading partners.

• The announcement comes after weeks of trade negotiations between Trump and European Commission President Ursula von der Leyen.

The European Union announced Monday that it will suspend for six months its planned countermeasures against the United States’ tariffs, which which were set to take effect this week.

“On 27 July 2025, European Commission President Ursula von der Leyen and US President Donald J. Trump agreed a deal on tariffs and trade,” the EU Commission spokesperson for trade said in a statement.

The spokesperson touted the agreement as restoring “stability and predictability for citizens and businesses on both sides of the Atlantic.”

“The EU continues to work with the US to finalise a Joint Statement, as agreed on 27 July,” the spokesperson said.

“With these objectives in mind, the Commission will take the necessary steps to suspend by 6 months the EU’s countermeasures against the US, which were due to enter into force on 7 August.”

The pause on the countermeasures is expected to formally take effect Tuesday.

The delay represents a concession from one of the United States’ largest trading partners, following weeks of negotiations between Trump and von der Leyen.

Trump last month announced a trade deal with the EU that included 15% tariffs on most European goods to the U.S., including automobiles.

As part of the deal, the White House said that the EU “will remove significant tariffs, including the elimination of all EU tariffs on U.S. industrial goods exported to the EU.”

Trump also said that the 27-member bloc agreed to buy $750 billion worth of U.S. energy and invest an additional $600 billion worth of investments into the U.S. above current levels.

But it’s not clear who, exactly, would make those investments, or how. The economic bloc does not have the authority to force private companies to buy U.S. oil or American grain.

An EU statement on the July deal also stressed that it was a political agreement, and “not legally binding.”

“Beyond taking the immediate actions committed, the EU and the US will further negotiate, in line with their relevant internal procedures, to fully implement the political agreement,” the statement said.

The announcement comes at the start of another big week for Trump’s trade agenda.

After weeks of shifting deadlines, Trump last week again pushed back the start date for new tariff rates to take effect. Tariffs on more than 60 countries are set to begin being collected on some shipments Aug. 7, after Trump pushed the date of implementation back from Aug. 1.

https://www.cnbc.com/2025/08/04/trump-eu-trade-tariffs.html