White House Trade and Economic Advisor Peter Navarro takes a well deserved victory lap on the latest U.S. consumer sales news. The Census Bureau report, yesterday, highlighted that consumer sales remain strong at +0.6% – significantly higher than all economists forecast [DATA HERE].
Retail sales growth is important, because approximately two-thirds of the U.S. GDP growth is driven by consumer sales. With inflation low, retail sales high, and with a previously reported drop in U.S. imports, the ¹second quarter GDP is likely to be much stronger than anyone previously predicted. Thus, Peter Navarro is leaning forward against the naysayers.
This is essentially a repeat of the 2017/2018 economic outcome from President Trump’s first term in office. The tariffs, which are applied to the ‘cost’ side of the dynamic, are mostly being absorbed by major producing nations who are reliant upon export to the U.S. market. Simultaneously, the tariffs are generating income – essentially exfiltrating foreign wealth and returning those funds to the USA; a complete reversal of the rust-belt dynamic. WATCH:
What Peter Navarro outlines is the core of MAGAnomics. This is also the baseline for our CTH assembly in support of economic nationalism, which is why we ended up in conflict with the Chamber of Commerce Republicans.
Tariffs are a tool to leverage reciprocal trade, and as long as nations like China continue taking measures to subsidize their exports, the tariffs simultaneously take wealth (those subsidies) from Beijing and return it to the USA.
This reality has always been the model we predicted would be successful for Americans, and I will remind everyone that ONLY DONALD TRUMP could deliver this MAGAnomic program. Everything else, Epstein, Musk, etc. is chaff and countermeasures deployed by both Democrats and Republicans in an effort to take back control of the money flow.
Remember, Democrats want power – Republicans want money. Democrats use money to get power, while Republicans use power to get money. This is how the two wings of the DC UniParty vulture maintain status.
You can see that if you take away the money, Democrats lose power. Simultaneously if you take away control of the money, the Republicans go bananas. This dual reality forms the baseline of the elite club opposition against President Trump.
At the core of the opposition you find money, control of the USA treasury as a weapon. When you understand that aspect, you understand the motives of Federal Reserve Chairman Jerome Powell.
FED Chair Powell’s refusal to lower interest rates is an attempt to assist both wings of DC by trying -and failing- to influence the money flows. Democrats support Powell’s approach because they want power. Republicans are willfully blind to Powell’s approach because they want to get back in control of the money.
Pro-America economic policy, MAGAnomics, is like kryptonite to Washington DC.
¹The second quarter GDP (April, May, June) will be reported on the last Friday in July.
We just returned from shopping for our Grandson’s birthday. The shopping center was packed! Vehicles and shoppers everywhere! It reminded me of Christmas shopping. From here outside of Tampa, everyone looks very happy.
Yet at the local Walmart prices remain high. I don’t understand it.
Walmart has increased their prices in similar fashion as anazon did when they no longer operated on losses every year. It seems Walmart has the entire brick and mortar consumer base isolated, so now they’ll jack up the price bc you have hardly anywhere else to go.
Trump’s emerging challenge:
Restoring COMPETITION to EVERY Industry!
… Break up the Oligarchs & Monopolies.
… Give Small Business & Entrepreneurs a chance.
Dollar General stores too. They’re making a mint on everything in my blue state!
I’m in a blue state too! THAT’S THE PROBLEM!!! Gotta change it to RED!!!
I do not shop at Walmart and try to support more and local retailers. Also so much of Walmart inventory comes from chine, and I prefer to purchase products from other nations.
They are a Chinese distributor so the tariff apply to the original distribution point in China.
Back to school shopping perhaps?
Gas in my area is down 29 cents in 2 weeks
$5.19 today at Shell for premium in San Diego.
Has it come down ?
It’s down about 50 cents in the past 7 months. Not much compared to the price of crude oil. California refineries supply Arizona and Nevada so they are pretty high as well. Newsom is shutting down two refineries here which reduces the gasoline inventory.
$3.50 now in Idaho for regular gas. Gone up from below $3 to this in a few weeks.
Food prices now reflecting the cost of diesel returning to $4.
I’m in some other part of the country that doesn’t see the good news yet.
Reduction in the price of oil just gives California Democrats an excuse to insert more use taxes to pad Newsome’s budget deficit. They find any way or excuse to keep California gas prices among the highest in the nation and help themselves in the process and a majority of the California electorate are just dumb enough to fall for their BS.
When we have illegals voting what do you expect?
If we’d been successful in recalling him we’d probably be in a much better position right now, but I truly believe the democrats Cheated their way into power and are cheating to hold on to it.
I paid $2.58/gal last week in Oklahoma.
$2.49 here in central Texas. Love the beauty & weather of San Diego.
I’ll be headed through in a few weeks. God’s country, Texas is
I love it that TX charges zero tax on food
Hard to believe but the peoples republic of Massachusetts doesn’t charge tax on food either! (Restaurants yes, retail no)
Gov Younkin did that in Virginia. Then the Northern Virginia counties promptly reimposed it at the county level. Now we all pay our 10% tithe to the Dems on the county board. No worries, Dems will still get reelected as their followers do what they are told.
Unfortunately the weather doesn’t pay the bills as we Californians know all too well (at least some of us). Others are just slow to catch on.
Especially here in the Mojave Desert.
$3.67 here in Louisiana
Wow. 2.83 in western Louisiana
3.99 regular san diego.
Cosco gas
Got gas in St. Augustine for $2.83 last week.
$3.98 at Wawa in Fairfax, Virginia. Hope you enjoy California.
Oh, and I forgot, regular at Wawa is $2.95.
Ha Ha… I paid $2.65/gal in Tennessee last week.
$2.63 here in the Georgia mountains.
Gas here in St. Pete FL was $2.78 yesterday
I remember gas at 17.9 cents a gallon at Webbs City back in the day. It was 25.9 to 29.9 cents a gallon normally, it was during a gas war and the line was two blocks long, I was in that line. Those were the days. It’s just over $3 a gallon up here in Cripple Creek/Victor now.
Check it out at wEBBS cITY, sT. pETE fL
Check it out. Webb’s City, St. Pete Fl. Gas at 19.9 cents a gallon. 1961. Hopefully my copy and paste works.
Yep, there’s some distance to go. I purposely took note of what it was on Trump 1.0’s last day in office: $1.82 for Unl Reg. It is now floating between 3.09/2.99; maybe 20c less at the casino on the reservation. But there is some improvement to be made. The communists have lots of rhetoric, but don’t like actual numbers. This is gratifying.
I remember gas wars. Those were the days!
I can remember when the gallon wheels advanced faster than the dollar wheels.
$2.86/gal today in Suffolk County, Long Island. For the last 6 months the price has varied between about $2.84 and $2.96, so not much change. I’ll take it, but I remember those $1.95/gal prices in 2020. I’m sure we’ll get back down there eventually.
Regular is $2.99 a gallon at Top Tier stations in Rhode Island. I don’t buy the cheaper gas anymore because of quality.
Gas in my area goes up and down inexplicably from around 3.19, then drops to 2.79, then launches back up. The good thing is that, for the last couple months, the new Sheetz stations have been doing a gas price war in certain pockets of the metro area, and I have rerouted my commute a bit to hit prices as low as 2.39. Other surrounding stations were also forced to lower in the vicinity of the new Sheetz and have to be losing money, which is maybe why it’s higher in other parts of the city to compensate.
As a musician, I have definitely noticed a drastic increase in price in foreign made instruments (which will never be made here).
So those companies raised the price to keep their profit margin impacted by tariffs
I have the same scenario. Gas went from about $2.82 to $3.29 this week. Glad I’d just filled up.
The Iran bombing and the threatened sanctions on Russian oil have increased the price of oil by 10% in the past few weeks.
Now, EU is sanctioning Russian oil! It never ends. It seems like there are many outside forces working hard to keep the price of oil high!!!
I paid $3.89/gallon for premium this morning in Houston.
I don’t see much of a downside to the manufacturers producing musical instruments in the United States for local sale with reasonable margins. Aside from availability of specific hardwoods like teak or mahogany.
I recall something about one case of mahogany imported from India into the United States held up in customs. The one that was held up on specious grounds during the Obama years. I also remember the manufacturer making a popular limited run of acoustic guitars of that wood thanks to the publicity.
Domestic guitar prices were already sky high and the quality isn’t much better than some of the Indonesian/Korean and even Chinese made axes. Fender/Gibson/PRS are all overpriced for USA made products – which is touted as a selling point. The Mexican made Strats (Player series) is really close to on par with the USA counterparts. I was preparing to buy a Japanese made Ibanez AZ Prestige (because I just loved it) and since I first considered, the price has gone up 300 bucks. Similar with Keyboard – Yamaha prices are up a couple hundred, etc….
Some good bargains can be had at pawn shops. I once had a musician husband who bought all of his instruments there.
I recall that Yamaha did manufacture electric guitars and drum kits way back in the day. I assume that they got out of the guitar line, at least.
I live in the area that is home to best American acoustic guitar, C.F. Martin. Did you know that Martin dipped their toes in the electric guitar/bass markets in the late 70s to the mid 80s?
Would love to see Elkhart, Indiana come back as the town that produces brass and
windwood instruments. Bought a Conn Trombone with paper route money in 1968. Still
have it. Selmer, Bundy, King…. all made in Elkhart, back in the day. We need to have towns/cities
that are identified with what they produce.
Dayton: GM, NCR, Fridgedaire, back in the day. Waukegan, Illinois…. Johnson outboards, before
Canada bought them out and shut them down. Back in the day, you could meet somebody from
out of state and ask them where they worked at. If they said, say Polaroid, or Bausch and Laumb,
or Owens Corning, you could name what town they lived in, or around.
We need to bring back local economies while we can. I won’t even get into what I think about what
Wall Street has done over the last 60 years to destroy what we had. Bring it back.
Yes, you are correct on Elkhart. I remember touring one of the workshops (Selmer maybe) as a kid. The workers there were all older and were true craftsmen. If I remember correctly the companies didn’t hire/train replacements because even then they were planning to offshore. The craftsman made good money but were very, very talented and worth every penny. One of the challenges now is many schools have cut back on “extras” like band so they can fund the outrageous teachers unions so they demand for instruments isn’t what it once was.
On a happier note Gibson guitars has a plant in Bozeman MT so maybe you can still get a USA made guitar.
Wasn’t a brand of RVs or camping trailers built in Elkhart?
I have also noticed the same trend in central Florida over the last 6 months. It’s predictable. Prices will drop over a 2 week period to $2.80 something a gallon and the next day, it will shoot back up to $3.19 a gallon. And back and forth it goes. Almost like clockwork.
Best explanation I have heard is the refinery capacity can’t keep up since so many have been shut down and new ones are next to impossible to get permits for.
There is only half of the number refineries operating in the U.S. since 1980.
Interesting. We are slammed with Sheetz in Western Maryland/Pennsylvania and our gas is still 3.19 Thursday.
The last time I heard of a gas war was growing up as a kid in Texas.
What area are your Sheetz stores in? I am in east central PA.
Gas here has gone up $2.70 gal. Eggs didn’t come down and food prices are steady going up. $7.99 for 5lbs of red potatoes. Last week $5.99.
My wife has pointed out that food prices at Albertsons, Ralph’s and Walmart are rising again! Not good unless oil starts to get below $60 and stay there. Unfortunately, there are many global political interests working hard to raise the price of crude oil!
I’m sure this is the # 1 headline on CNN right now.
I just watched a 15+ minute interview with Navarro on Bloomberg and he made lots of very good points:
I watched the interview on my Substack — but I’m subscribed to Navarro’s feed. You probably can’t watch it, but you could try this link:
https://substack.com/inbox/post/168522776
Thanks for posting the summary. Navarro is always spot on.
Stay tuned for a summer of “Fireworks at the Fed” as the new DOJ investigation and prosecution fire up!
Communist Oregon is still 3.99 for regular, 4.25 for diesel. Would guess our gas is coming from refineries in California if any are still operational. Think Private Equity has entered the grocery business. If we don’t eliminate PE a-holes they will eliminate us. Surprised I’m not seeing action from 47. This is right up his alley. All the key steps taken to revive industry will be moot if PE can rampage unchecked.
Across the river it’s $4.25 a gallon
I was out shopping today and went to five different stores and those stores were busy. I was surprised at how busy they were. Most of the people I talked to while standing in line were shopping for wedding and school attire. Where I live gas is now $2.64 a gallon down .20cent from just a week ago.
I am a Trump supporter! Great to hear that gas and eggs are down. In my world, that’s about the only da%# thing(s). Coffee (which is important to me) is up about 300% since a few years ago, and just about everything else. Income, the same or less! Who can afford to eat out any more? It’s getting harder to eat in. I guess this is okay if your income rises with the tide but I haven’t experienced that side of it!
Same here, but hubs and I are seniors on a very small income. After paying bills and buying food and gas there’s not much left. It’s infuriating. But I really feel for people with children.
Gas in Northern Utah still hasn’t dropped. Patiently waiting.
We’re waiting in SoCal too.
27 Billion dollar surplus in June. Maga! Trump was right again
From what I read, some economists believe that the increase in sales numbers is due in part to higher prices. They also note that the figures are not adjusted for inflation. In June, the Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year, marking the highest annual rate since February, which suggests sales numbers are being inflated in part by higher prices. How much is anyone’s guess.
Other possible factors include consumers trying to avoid price increases from future tariffs. August 1st. is when the steep tariffs come into effect, barring any further postponements by Trump. Car sales last month were up as buyers tried to beat the increases coming on August 1st. The fact is, Peter Navarro is not respected by other economists. He is considered something of a charlatan.
It is too bad the Fox host didn’t question Navarro on these other factors. When Neil Cavutto was in that time slot he would have asked probing questions, but this Will Cain guy is just a cheerleader for the administration. I think it is way too early to break out the Champagne and declare economic victory over the rest of the World.
North Central MD (WNW from Baltimore City)
gasoline (Reg) is $3.03 to $3.19 /gal per “Gas Buddy” app (about $0.45/gal down from a month ago)
eggs $6 – $8 /doz. (about $1.00 down from two months ago) today at Safeway
Safeway, Martins, & Weis grocery store prices generally level or up from 2 weeks ago. (nothing has dropped in price; some items have significant price increases). We don’t shop at Costco or Walmart so no price report from them.
I shop Walmart and yesterday I paid $2.72 for a dozen large eggs here Melbourne Fl.
The Genius Act PO signed by PDJT for earthly crypto dominance is the ABSOLUTELY LAST THING the Fed Res wanted…. The Fed is dooooooooooooomed
Sundance, this is one of those posts that makes me feel like I just washed my face and feel clean and refreshed.
Thank you.
“PANICAN” love it! Admire this gentleman who worked and continues to work so hard for all of us!
Beware of the carnival barkers. Half Ass and ill thought out Tear Affs are going to have very dramatic unintended consequences…
U.S. Corn COLLAPSE Just Got Worse — 88% of Exports Wiped Out in DAYS
China Just Crushed The American Car Industry—Ford, GM And Tesla Face Collapse
Lions and tigers and tariffs…….. Oh my.
Heh.
Harry, don’t let the Grokodiles have you for lunch:
Elon Musk publicly criticized Peter Navarro, a senior trade adviser to President Donald Trump, in April 2025, calling him a “moron” and “dumber than a sack of bricks” in posts on X. The feud stemmed from Navarro’s comments on CNBC, where he described Musk as a “car assembler” rather than a manufacturer, claiming Tesla relies on foreign parts from countries like Japan, China, and Taiwan. Navarro argued for domestic production, aligning with Trump’s tariff policies aimed at boosting U.S. manufacturing. Musk countered that Tesla produces the most American-made cars, citing their high U.S. content and vertical integration, and dismissed Navarro’s claims as “demonstrably false.” -grok
Ain’t much going to happen on the drive to re-industrialize America until the morons and mental midgets that transferred most of the west’s industrial and technological legacy to china are dealt with eh? Man the NWO elites are even dumber than the neocons…
Imma get expert advice from a dude named “Audrey” LOL
Today Gas in my area is $ 2.79,
Drove to Kalifornia over the July 4th week/weekend (from N. Idaho). Talk about dystopian societies. Eastern Washington looked somewhat normal (if you stay out of the cities). Oregon was just a pit, from East to West to Central. There was a marked difference in restaurant service. People smiled, but it was fake smiles, i.e. a fake politeness. Buy a Subway sandwich in Idaho and Oregon, and you have two entirely different products. In Oregon, the bread was stale, some of the veggies and meat, questionable, and the hygiene behind the counter, or the bathrooms, don’t ask. This isn’t just one place, but several. When I reached Kalifornia, even though I expected the $5 gas, it was a shock at the pump. Ever see a middleclass mom putting in $10 of gas and leaving the pump? Is it a wonder why? “Weird” was on display everywhere we went. The Costco crowd in Idaho is a guy and wife and kids in Little League uniforms having Ice cream and a slice of pizza after shopping. The Costco crowd in California was NOT American, not in dress, culture, nor language, nor they way they treated other people. They were a self-entitled acting bunch.
It’s difficult to put your finger on the differences, really. It’s almost something you feel, a creepy if not threatening feeling. You ~~KNOW ~~ that you have absolutely NOTHING in common with almost anyone in that very large store, teaming with humanity. (No, it’s not a “racist” feeling – you can stuff that right now. I’m the only “white person” in my own family. They’d tell you if I were any flavor of racist.)
Things may be bustling in Florida and Idaho, but WA, OR, and CA are like crossing the East German “iron curtain”, an entirely different country than “America”, (and this is coming from a person who grew up in, and raised a family in California).
Not in my part of California, thank God.
I am in Central Florida and I don’t see any savings at the pump or grocery store either.
The fake news continue to minimize the calamity of the Pennsyalvania shooting because they ignore the death of Corey Comperatore and the wounding of David Dutch and James Copenhaver. The event should not have happened. By the grace of G-d, President Trump remains our President.
Cheapest gas in NH is $2.69 in Rochester NH. Local farm just increased egg prices to $4/dozen. I’ll still take it.
Very few people bargain. It ‘s O.K. to haggle. It’s a challenge to be a shopper. Many, many, many vendors offer a discout on stuff. I remember in the good ole days buying a ten piece box of day-old, cold chicken from KFC for one-half list price. No more. Now that make a chicken and dumpling with older chicken. I bought a electric smoker at Home Depot for $0.26. It was reduced off list because of a dent, it wasn’t the current style, and I used their $25.00 coupon with a new credit card to complete the purchase.
I learned to shop from my Nana in Tallulah. She was the best.
I have always been a huge NPR fan ever since I was old enough to have money to spend. For me NPR means………
Never Pay Retail.
Donner and Blitzen
Tear through the sky
Raining good fortune
Love from a high
Donner and Blitzen
Just drove from Albuquerque, New Mexico to Yukon, Oklahoma last week. Texas and Oklahoma prices were around $2.50/gallon while New Mexico was pushing $3/gallon. On top of that we were surprised recently when our home/auto insurance cost was reduced. Our grocery costs have remained steady even though we are making healthier choices as a result of MAHA information. Things are definitely better for my family.
I’m an art show vendor, I do art fairs. People are not spending like they use to.
I forward your work wherever I can, brother SD.