Economic analysts had forecast another month of job losses around 9 million; however, the ADP payroll report shows a much better result with 2.76 million jobs lost in May. The surprising difference between expectations and results is giving increased hope a quicker rebound may be possible.

The ADP results were so much better than expected that White House economic advisor Kevin Hassett said he has to check the data twice.  The data was released while Hassett was in the middle of an interview with Maria Bartiromo on Fox Business.

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The key is getting rid of these nonsensical shut-down rules.  As the lack of social distancing concern amid the protests has shown, the shut-down fears, rules and regulations are over-hyped and baseless. However, the blue state governors continue to fight economic re-engagement as they look to maximize negative economic impact for political gains.

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Secretary of State Mike Pompeo appears on Fox News with Maria Bartiromo to discuss current events surrounding China and their aggression toward Hong Kong.

Within the discussion Secretary Pompeo outlines how the Trump administration is currently in the process of changing multiple levels of cabinet regulations (treasury, trade, state and commerce) and U.S. policy as it pertains to the new geopolitical threat presented by a new and more hostile Chinese Communist Party approach.

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Chopper pressers are the best pressers.  President Trump delivers remarks departing the White House to travel to Florida.  The President thanked the secret service agency for their actions securing the White House as organized Antifa riots, arson, looting and mayhem break out in every metropolitan area controlled by Democrats.

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President Trump tweeted his review of the Antifa riots earlier today.

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Earlier today President Donald Trump led a roundtable discussion with industry leaders on reopening the American economy. President Trump noted his administration built the greatest economy in American history before COVID-19 and is already at work on the “transition to greatness” to restore well-paying jobs and prosperity to all Americans.

Participating in the discussion with President Trump is: Larry Kudlow, Director of the National Economic Counsel; Ambassador Debbie Birx, M.D., White House Coronavirus Response Coordinator; Kevin Hassett, Senior Economic Advisor to the president; Tim Pataki, Deputy Assistant to the President and Director of the Office of Public Liaison; Treasury Secretary Steven Mnuchin and Labor Secretary Eugene Scalia.

External participants: Geoff Ballotti, President and CEO, Wyndham Hotels & Resorts; Brian Goldner, Chairman of the Board and CEO, Hasbro; David Hoffmann, CEO, Dunkin’ Brands; Gary Kelly, Chairman of the Board and CEO, Southwest; Rodney McMullen, Chairman and CEO, Kroger; Oscar Munoz, Executive Chairman, United; Brad Smith, President, Microsoft and Sonia Syngal, CEO, Gap Inc.

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The Dept. of Labor released weekly unemployment data showing an additional 2.1 million workers filed new unemployment compensation claims last week; bringing the total claims to over 40 million since the Wuhan virus mitigation effort shut down the U.S. economy.

However, there is some good news within the data.   The “continuing claims”, meaning those who have been collecting unemployment compensation for at least two weeks, is now at 21 million.  That’s a drop of almost four million from the prior week and signals that jobs are returning as the state economies begin reopening.

Additionally, the Bureau of Economic Analysis (BEA) released the second estimate of the first quarter Gross Domestic Product.  The estimate moved the prior contraction of -4.8 percent slightly lower to a newly revised estimate of -5.0 percent.

With the first quarter at -5.0 percent (Jan, Feb, March) and a guaranteed much larger contraction in the second quarter (April, May, June) it is now a certainty we will officially be labeled “in a recession” when the Q2 numbers are released on the last Friday of July.  The media is using the data lag to narrate, and drag-out discussion of negative economic news, as long as possible.

There are some indicators the rebound will be strong (home sales, housing starts, mortgage applications, consumer confidence) but the key to both a wide and deep recovery is putting people back to work as quickly as possible.

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Commerce Secretary Wilbur Ross contrasts the importance of the latest U.S. SpaceX launch in an era when China is increasingly expressing communist control over Hong Kong.  Within the interview Secretary Ross outlines the likelihood of an economic response toward Beijing to countermand aggressive geopolitical ambitions.

Shifting high-tech industrial manufacturing away from China, back to the United States, is an important component in the strategic U.S. economic approach.

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White House Trade and Manufacturing Advisor Peter Navarro has a good discussion with Martha MacCallum about the economy, White House economic policy and the focus in the aftermath of the COVID crisis to reemphasize an industrial resurgence in the U.S.

As Navarro outlines the focus of the administration policy is on Main Street and driving the main street economy that overwhelmingly benefits middle-class workers.

That said, when questioned about President Trump’s recent tone toward China, Navarro hints toward what many expect… President Trump is going to deliver a very deliberate, very strategic, very focused and very painful economic blow to Beijing.  WATCH:

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Many people foresaw this likely happening and today it begins. Twitter has intervened in the tweets and speech of the President of the United States to review, censor and use their own perspectives to countermand the opinions of President Donald Trump.

By taking this position Twitter has put themselves into the position of arbitrating the opinions of general speech. This is a remarkable shift in the control mechanism of the platform which will likely have ramifications.

However, beyond the intervention, it is worth pointing to the specific issue that has triggered their decision. Note the issue of greatest concern to the command authority of Twitter is specifically mail-in ballots; this is not accidental.

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Michigan Governor Gretchen Whitmer addressed the issue of her husband attempting to use his position to get their personal boat prepped and in the water prior to Memorial day so they could enjoy the holiday. The Michigan governor said her husband was joking when he told the boat storage operator he was the husband of the governor and asked if that would move him up in the line of requests.

Additionally Governor Whitmer highlights how the citizens of Michigan are victimizing her; including scary men who have surrounded her home while carrying “automatic weapons.” Whitmer says the COVID-19 virus has created an undue hardship on her and her family, and she is burdened by hurt feelings and wounded sensibilities.  Whitmer personifies what happens when left-wing moonbats are allowed to gain political power.

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Additionally (below), Whitmer denies reports that her family violated her own stay-home orders and traveled to their second home. She insists her husband only traveled to their second home to rake leaves by moonlight for one, or, well, maybe two days… or something.

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China is signaling they will drop the panda illusion and take a full frontal dragon approach toward Hong Kong. Chairman Xi Jinping is deploying, some say he has already deployed, the Ministry of State Security – China’s leading intelligence agency – into Hong Kong to begin formal control through national security laws.

The move appears to be a direct signal that communist Beijing will not longer accept or allow Hong Kong’s current autonomous status as a free democracy. Beijing signaling “enough is enough”, and Hong Kongers are rightly concerned.  If Xi follows through, we can expect to see even more protests and confrontations; and the possibility President Trump will remove the “special trade status” the U.S. gives to Hong Kong.

Right now Hong Kong is exempt from U.S. tariffs and other economic measures the U.S. has deployed against China.  If Beijing takes full control, that could quickly change.

(Reuters) – Beijing appears determined to stamp out any renewed rebellion against the Communist Party’s authority over the former British colony. China’s largely rubber-stamp parliament, the National People’s Congress, is preparing to circumvent the city’s lawmaking body, the Legislative Council, in drafting the new laws.

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