“Shark Tank” star Kevin O’Leary questioned a panelist’s claims about the economy Wednesday during “CNN NewsNight,” saying “the numbers” told a different story.
Consumer confidence increased by 12.3 points in May, the first increase in five months, according to The Conference Board, while the economy added 177,000 jobs in April. Podcaster Kmele Foster claimed that the tariffs imposed by President Donald Trump were causing job losses, leading O’Leary to step in.
“People are losing their jobs,” Foster said, with O’Leary responding, “What are you talking about? There’s no job loss in America.”
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After a heated exchange with both men talking over each other, Shermichael Singleton interjected.
“Do you not look at the unemployment numbers?” Singleton asked Foster, with O’Leary adding, “You can say that, but you better read the numbers.”
“I’m asking a question. It’s not saying anything,” Foster said, with O’Leary responding, “We’re almost at full employment. We’re almost at full — what are you talking about?!”
The unemployment rate was 4.2% in April, according to the Bureau of Labor Statistics. Former reality star Jennifer Welch jumped in.
“The economy is on fire! What are you talking about?” O’Leary asked Welch, who repeated her claim by saying, “He’s doing brand damage to the American economy. Nobody is taking us seriously.”
“What is this job loss? The economy is on fire right now,” O’Leary said.
After the exchange with Welch, Foster admitted the economy was “doing OK,” but Welch doubled down on her claim Trump was damaging America’s “brand.”
“He’s doing brand damage — brand damage to the American brand. We are a laughingstock,” Welch claimed. “We’re a laughingstock in Europe, a laughingstock in Asia. If you’re inside the Trump bubble and you’re on Twitter with all the bros, it hits hard. It’s really good.”
“That’s not what the numbers say. The number one destination for invested capital on earth is still over 50% in America tonight,” O’Leary shot back. “Tonight. Right now. So I don’t know what you‘re talking about a laughing stock. The money pours in, trillions of dollars comes to America. Why? Best place to invest on earth. Why? The economy is on fire.”
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