A NAFTA Conversation With Commerce Secretary Wilbur Ross…

Commerce Secretary Wilbur “Wilburine” Ross sits down for a big picture conversation to discuss the upcoming NAFTA (North American Free Trade Agreement) trade renegotiation.

This interview is well worth the time to understand the dynamics and objectives of the Trump administration.

.

We are incredibly blessed to have Wilbur Ross, Steven Mnuchin (Treasury) and Robert Lighthizer (U.S. Trade Rep.) as the leading edge of the new America-First economic revitalization.

These U.S. policy titans of trade, finance and commerce are the most comprehensively well-skilled people we have had assembled in our lifetime.

Also, semi related, there’s some confusion about the leading economic indicators, specifically the messaging, coming from the Bureau of Labor and Statistics.

We repeat a familiar refrain for emphasis: This new economic dimension is uncharted territory. The BLS and the larger FED policy groups have no accurate way to present economic data that runs in conflict to their reference points.

Additionally, there’s a political angle within the federal bureaucracy that is partisan and inherently predisposed to undermining the policy outcomes of the Trump administration.

You will notice several incongruities in most of the BLS financial reports.  Cue today’s audio/visual demonstration within a single article:

  • …”Roughly 180,000 new jobs each month are needed to keep up with demand in the labor force.”
  • …”U.S. employers added 138,000 net new jobs to the rolls last month.”
  • …”the jobless rate, also declined to 4.3% from 4.4%, hitting the lowest level since 2001.”
  • (link)

See the incongruity?

If it takes 180,000 jobs each month to retain stasis, and the economy only added 138,000 jobs, then how does the unemployment rate decrease from 4.4 to 4.3%?

The FED and BLS are unable to reconcile what is happening within the economy because they have no reference point for what happens within the time and space between the two economic engines (Wall Street and Main Street).

Just like their “rate of inflation” measures do not include high consumables (food, fuel and energy prices), so too does their employment measure miss any jobs disconnected from actual GDP outputs.

The ADP payroll stats (actual payrolls spent), do a better job accounting for those who are involved in the pre-economy manufacturing work force.  Think of it like a house being built.

During the construction period of a home all of the workers are being paid but there is no end product to provide a valuation.  After the home is built it has an immediate value that becomes part of the GDP.

President Trump’s economic policies (and the investments therein) are in the building stage, currently not part of the larger economic valuation.

…”Average hourly earnings, a closely-watched metric, rose 0.2% during the month, as expected, putting year-over-year wage gains at 2.5%. The figures help reinforce the idea consumer spending, and therefore overall economic growth, will see a bounce.”…

According to BLS stats, wages increased May ’16 -vs- May ’17 by 2.5%.  In my opinion this is significantly underestimated.  Wage rate growth is much higher on ADP payrolls, but yet unrecorded because the end product created by the worker is not yet recorded in the economy.

Last point, and I mean this will all sincerity… THANK YOU for voting for President Donald Trump. No-one else understood; no-one else was even close to understanding what was needed; and no-one else could have, or would have, assembled the economic team we have leading our national economy.

Every single positive economic outcome for you, your family, your children and your grandchildren is directly and specifically due to your vote for President Trump.

Thank You just doesn’t seem to convey the scope of appreciation.

Truly.

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This entry was posted in Canada, Economy, Education, energy, Environmentalism, EPA, Legislation, media bias, Mexico, President Trump, Trade Deal, Uncategorized, US dept of agriculture, US Treasury. Bookmark the permalink.

130 Responses to A NAFTA Conversation With Commerce Secretary Wilbur Ross…

  1. PreNanny says:

    The death knell of the EU from Wilburine Ross’s lips:
    “Germany is part of the EU we cannot negotiate with them directly.”

    Calm as a cuke he uttered those words, history folks we are living in VERY historic times.
    Thanks for the video Sundance German heads are exploding.
    MAGA

    Liked by 2 people

  2. enfield88 says:

    It was strange but great to see a Trump Secretary being treated with respect and cordiality at a “Bipartisan” event. No gotcha attempts, no caterwauling whiny interruptions from the media, no rudeness and no sign of partisan vitriol. Just informed, rational and inquisitive questioning and sincere appreciation for his attendance at the event. The U.S. is incredibly blessed as Sundance wrote to have Wilbur on its side as the “leading edge…”

    Liked by 2 people

  3. Paul Killinger says:

    Nor does “Thank you” begin to convey our heartfelt appreciation for the timely, coherent and exhausting efforts you continue make on behalf of those of us who reside in our nation’s once proud “Forgotten America.”

    Thanks again, sundance!

    Liked by 3 people

  4. DHarvey says:

    I love listening to Wilbur Ross. He states his thoughts succinctly, precisely and then stops talking. I LOL every time he does this :). Man are we fortunate to have him literally volunteer his time for 4 years to turn things around for our country and get us heading in the right direction from a trade standpoint.

    Liked by 3 people

  5. Grandma Covfefe says:

    The magic word “WALL” is what did it for me. Being a Native SoCalifornian, I have waited 35 years for someone to seriously talk about a wall, and Donald J. Trump did just that. The extra bonus? Donald J. Trump is a businessman, not another lawyer or community activist, etc. I came from a large family of business owners, so we get Mr. Trump.

    We slowly weaned ourselves of TV news and struggled to find good source of real news. Breitbart was one source at the time. It was a Gordon Freeman who had been posting on Breitbart that caught my attention. What he posted paralleled to my thoughts, as if he was writing my thoughts. I was thrilled. After his third posting, I noticed he’d also posted a website following his comments. I clicked onto it and it led me straight to Sundance, and home.

    Sundance’s thoughts is so right on, and clicks with our opinions. He even helped me to finally connect some thoughts I had held in for decades that were perplexing and I couldn’t put a finger on why the ‘facts’ were off.

    So, Hats off to you, Sundance, too. We so appreciate the time and work you put into thisvery intelligent and informative blog.
    It was done with guts and glory, cold anger and laughter, and with a heart full of love and patriotism.
    The Treepers completed this circle of love, prayer and patriotism. I am home in the Treehouse,……finally. Caturday helped a lot, too. Meow

    God Bless all of you, my very bestiest family
    And Thank you to our very dear President Trump and his cabinet.

    Grandma Covfefe (formerly LoveofUSA)

    Liked by 1 person

  6. dayallaxeded says:

    WILBURINE!!! 🎆
    Every time his name is printed, it should look like that.

    On the other hand, there’s just no type face or print convention that can convey the awesomeness of the one who nominated WILBURINE!!! 🎆 OUR POTUS may have to do. Joining with SD in thanking all who joined us in supporting and voting for PDJT!

    Most of all, thanks to God Almighty for his mercy upon us and the guard and guidance He gives to PDJT and all of us!

    Like

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