Speaker of The House Paul Ryan was interviewed by Maria Bartiromo on the current framework for the proposed Tax Reform legislation currently under construction in congressional committees.
Many of Ryan’s responses range the gambit from willful blindness (ex. how to fill the budgetary hole created by expanding medicaid; can’t see how to achieve 3% GDP growth, etc.) to outright opaque misinformation, claims congress decided to eliminate B.A.T. (they didn’t, Trump, Mnuchin, Ross did), on revenue.
It is always important to remember that Ryan’s points of advocacy all stem from the Wall Street’s lobbying complex on K-Street.  The epicenter of those interests is the crony capitalistic U.S. Chamber of Commerce (Tom Donohue).   Watch:

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CTH remains cautiously optimistic that Trump, Mnuchin, Cohn and Ross can defeat Ryan Inc on the larger tax reform issues.  However, CTH is not naive to the scope of the UniParty confrontation that will stem as an outcome.  You can hear it within Ryan’s words.
America voted for Trump’s agenda, not Ryan’s Corporate “Better Way” bulls**t !!
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President Trump’s MAGAnomic and foreign policy agenda is jaw-dropping in scale, scope and consequence. There are multiple simultaneous aspects to each policy objective; they have been outlined for a long time even before the election victory in November ’16.
If you get too far into the weeds the larger picture can be lost. CTH objective is to continue pointing focus toward the larger horizon, and then at specific inflection points to dive into the topic and explain how each moment is connected to the larger strategy.
Today we dive into how MAGAnomic policy interacts with Wall Street, the stock market, the U.S. financial system and perhaps your personal financial value.  Again, the ongoing reference and source material is included at the end of the outline.
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Short interview with Office of Management and Budget (OMB) Director Mick Mulvaney discussing ObamaCare and the potential for Tax Reform.  Unfortunately, one of the key budgetary issues with the failure of ObamaCare reform is the downstream effect on any middle-class tax reform.
Within ObamaCare’s current -mostly political- structure, the expansive growth of Medicaid means tax-paying workers will pay more for insurance premiums and will also be held captive to the need for additional revenue to pay for medicaid; a double whammy.

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Various senators deliver remarks following the collapse of their ability to reform and replace ObamaCare with any alternative.  Beginning with the controlled opposition position of Rand Paul and continuing with Mitch McConnell and the Senate GOP leadership (at 15:00 of video).

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What these insufferable politicians well understand is that any substantive tax reform will necessarily also be compromised by the flawed dynamics inside ObamaCare. That will have a negative downstream impact on any hope for economic growth. However, they are not stupid – they know this – that is their unified UniParty goal.
The increasing taxpayer costs to keep big government ObamaCare operational, for non-taxpaying medicaid recipients, means the middle-class is once again sacrificed at the altar of the Big Club.
American workers on the individual market will not only see increased insurance rates, but their income tax rates will also be higher as the need to subsidize the lower-income non-working group (medicaid) remains.
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Earlier today USTR Robert Lighthizer released President Trump’s NAFTA Objectives outline to congress and the American people.  The NAFTA renegotiations are scheduled to begin in August.
The bilateral trade negotiations with the EU (European Union), S.E.A.N. (Southeast Asian Nations), China, U.K. and all other nations will follow -individually- after the NAFTA process is complete.

It cannot be overstated how critical this is.  Please, please, understand.  There are trillions of dollars at stake.   All political opposition to President Donald Trump will increase in exponential severity as the dates of these renegotiated trade deals draws closer.  There are trillions of dollars at stake.   The entities outlined below will throw everything at the current administration in an effort to secure a better financial outcome for their interests.
Multinational Corporations, Wall Street interests and Multinational Financial stakeholders (mostly banks and foreign governments), have lobbied DC politicians for decades to create trade outcomes favorable to them.  It is, at its core, the financial and policy cancer that has distributed America’s physical and financial wealth globally. Additionally, multinational corporate media are part of this entire process and are stakeholders in the outcomes.
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President Trump delivers opening remarks to celebrate Made in The USA manufacturing week, a presidential initiative.

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In 2016 CTH first predicted the intellectual economic disconnect that would arise out of the paradigm shift in economic principles. Initially I called it “the economic third dimension” – SEE HERE.
As time progressed through the second fiscal quarter of 2017 (Jan-March) again, we noted how the Federal Reserve was exactly failing to understand this “third dimension”; the space between Wall Street and Main Street fiscal policy – SEE HERE.

Finally today, for the first time, we see a federal reserve voting official begin to question the underlying economic assumptions of the Fed. Federal Reserve Bank of Chicago President Charles Evans is the first federal official to identify the disconnect between federal economic policy and actual economic outcomes:

WASHINGTON – […] Inflation has run below the Fed’s 2 percent target over the past eight years, Federal Reserve Bank of Chicago President Charles Evans noted.
“This is a serious policy outcome miss,” he said in remarks prepared for a conference in Idaho.
[…] Even as inflation has tumbled this year, Fed officials have brushed it off, indicating that they believe that one-off factors are keeping prices low. Those include cellphone service prices cratering because of carriers bidding to offer unlimited data plans. Fed Chairwoman Janet Yellen and others have suggested that inflation is likely to head back up after those temporary price drops slow overall prices.

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White House Press Briefing – “We’ve received several inquiries on what the President — on his agenda for the past couple of days, so I’d like to read some of that out before I take your questions.”

“He’s had multiple meetings with key economic advisors, particularly on issues of trade, such as Ambassador Lighthizer, Treasury Secretary Mnuchin, Commerce Secretary Ross, NEC Director Gary Cohn, and Director of the Office of Trade and Manufacturing Policy, Peter Navarro.”

The only question is the timing. Now or after NAFTA?  It is better to have NAFTA finished prior to the confrontation? …if so, considering DPRK aspect, what is the better strategy in the space between now and the final conflict?
Remember, this battle is two decades past due and waged on behalf of the forgotten men and women of the middle-class. The purchased legislative body within Washington DC will attack our economic efforts with an intensity never before seen in this century or any century.  There are trillions of dollars at stake; this is the epic battle for middle America.
The administrative state will work earnestly to destroy these efforts on behalf of our enemy.  Along with Wall Street, every multinational corporation and multinational banking institution will be against us.
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The House Appropriations Committee has proposed a State Department budget with significant cuts of 14 percent.  However, those proposed cuts are only half of the proposed “deep state” spending cuts in President Donald Trump’s budget outline.

WASHINGTON DC – […]  The panel’s spending bill for State and Foreign Operations which includes State Department funding and other agencies and programs is $47.4 billion, an overall 17 percent cut. That figure includes $12 billion in Overseas Contingency Operations (OCO) funding that does not count toward budget caps.
The cuts, while deep, are less severe than those proposed by President Trump in his budget. The president’s blueprint would have cut State’s funding by roughly twice as much. (read more)

It might be challenging to see what this budgetary angle is to the larger aims of the Trump administration, but the spending proposal of the Trump administration is actually targeted toward a larger objective of swamp draining.  And therein, we find the entire apparatus of the administrative state, ‘deep state’, UniParty pushing back.
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Continuing to look at the new economy through the prism of the new dimension, CTH notes the manufacturing landscape is shaping itself as predicted.  However, the disclaimer should also be noted that most economic observers are stuck in old economic paradigms.

[…]  The Institute for Supply Management said Monday that its manufacturing index rose to 57.8 last month from 54.9 in May. Anything above 50 signals that factory activity is increasing. The measure now stands at its highest level since August 2014, pointing to solid economic growth. (link)

Overall the trend-line is very positive for a resurgence in U.S. manufacturing.  According to the report fifteen of the eighteen manufacturing industries surveyed posted growth in June.  Those gains included: furniture, machinery, fabricated metals, petroleum and coal sectors. One transportation equipment firm surveyed for the report said “demand is up 5 to 7 percent.”

The manufacturing base is responding (via investing) to predictable market patterns.  However, the rate of response (production investment) will increase in direct proportion to the upcoming (late summer) trade negotiations.  Please keep that in mind.

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