Chris McGlade recites his 2018 poem “The Right To Hate”, from his hometown in the north of England. A working man’s view of left-wing intolerance.
Earlier today President Trump signed an Executive Order requiring Federal agencies to focus hiring on the skills job seekers possess, rather than focusing on whether they earned a college degree. The order requires Federal agencies to revise and update outdated Federal job qualification standards and candidate assessments, improving the quality and competency of the civil service.
The order implements best practices already adopted by private sector leaders to promote equity and inclusion. As a result of this reform, talented individuals with apprenticeships, technical training, and apt backgrounds will have greater opportunity to pursue careers in the Federal civil service. [Video and Transcript of Workforce Meeting]
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[Transcript] – THE PRESIDENT: Nice to see you. Thank you very much. Busy time.
MS. TRUMP: Absolutely.
THE PRESIDENT: We’re making a lot of progress with the whole situation that came in from a place called China, as you probably know. You probably see. But we have a little work to do, and we’ll get it done. We’re having some very good numbers coming out in terms of the comeback — the comeback of our nation. And I think it’s going very rapidly and it’s going to be very good. But right now, we’re in that process of building.
There is a lot of weird financial data in/around Nike that is coming to a head. For those who track issues closely, Nike is using the COVID-19 issues to hide the Kaepernick effect.
Everyone remembers Nike went all-in on their social justice model and made a corporate decision to make Black Lives Matter activist Colin Kaepernick the image of their brand.
In their latest financial results Nike is reporting a net quarterly loss of $790 million…. That’s a big deal. However, given the defensive excuses over the COVID-19 shutdown, that loss alone isn’t the big story. Their year-over-year sales are down 38%, which tells us the downward spiral has been happening for a lot longer than a quarter.
How bad were their results? To give you some perspective most financial analysts in the industry were looking for a profit target around seven cents per share. The result Nike reported was a loss of 51 cents per share. That is a massive disparity.
In my opinion, having tracked MAGA and Anti-MAGA companies and effects, what Nike was doing in much of last year was hiding and deferring income losses due to sales declines. They did this because the larger goal was to hide the impact of their branding shift. Nike didn’t want people to know how much backlash they faced, so they used every mechanism possible including inventory manipulation to avoid showing losses.
Commerce Secretary Wilbur Ross appears on Fox News with Stuart Varney to discuss a change in federal hiring policy. However, within the interview Ross notes some key economic data that has a very solid predictor value for economic growth.
Both the spending rates and the savings rates for Americans are at all time highs. The COVID-19 lockdown has limited purchase options, leading to less initial spending; however, consumers have a lot of recent cash reserve as shown in their rate of savings.
Ross is right, within this dynamic, as soon as economic limits are removed, the spending will boost the economy very quickly.
Earlier today President toured Fincantieri Marine shipyard and delivered remarks about the historic $5 billion dollar contract the Administration recently granted Fincantieri Marinette Marine. This is the first visit by a sitting President to the city of Marinette, Wisconsin.
Fincantieri Marinette Marine is a United States subsidiary of Italian enterprise Fincantieri, one of the world’s largest shipbuilders, the shipyard was established in 1942 to meet America’s growing demand for naval construction.
The Trump Administration’s contract to build up to ten new guided missile frigates worth nearly $5.5 billion, will secure the future of the shipyard. Fincantieri plans to invest $130 million in upgrades to the facility, add approximately 1,000 jobs and projects that the investment will create 15,000 additional jobs in the Wisconsin and Michigan supply chains.
[Transcript] – THE PRESIDENT: Thank you. Thank you. Yeah, it’s a good song, isn’t it though? Lee Greenwood.
And thank you very much. I’m thrilled to be here with you on this incredible summer day in Wisconsin on the edge of the beautiful Lake Michigan — that is beautiful too; I know it well — with the legendary workers of Marinette Marine. And you now have a lot of contracts because of the United States government. You’re going to — you’re going to be so busy. (Applause.) You’re going to be so busy. I know you went through a little bit of a hard time; not anymore. Not anymore. Got you covered for years.
Jumpin’ ju-ju bones… New home sales jumped a whopping 16.6% in May, blowing past the estimates of a 2.9% rise. The May increase in sales is nearly 13 percent higher than the same month one year ago.
Home sales are a key indicator of economic health because purchases of homes requires (1) income, a stable job; and (2) an optimistic financial outlook from the buyer.
Sales of new single-family homes jumped 16.6% in May from April, to a seasonally adjusted annualized pace of 676,000, the Census Bureau reported Tuesday. The median economist estimate was for 640,000, according to Bloomberg data.
In addition to a larger-than-expected monthly surge, May sales were nearly 13% higher than a year ago. As the US economy reopens, people are flocking back to the housing market in droves — the rosy sales are a rebound from three months of declines ending in April. (LINK)
In the economic balancing act toward China Larry Kudlow represents the good cop, Peter Navarro represents the bad cop and President Trump navigates the market responses. Neither person is factually in conflict with the other; the nuance is in the expression and each person has a role to play. Sometimes teeth, sometimes not. It depends on need.
Last night trade advisor Peter Navarro noted the U.S. position with China and trade is still in a state of serious conflict. This is accurate, and a more confrontational posture has been expressed by President Trump. Today Larry Kudlow moderates the Navarro position to lessen the Wall St. concern over a looming decoupling. It’s all a dance.
The need for nuance becomes clear as we watch Stuart Varney pushing the Wall Street concern angle on behalf of U.S. multinationals. The administration does not want to spook the stock market while they deal with a China confrontation. WATCH:
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Kudlow represents the panda mask. Navarro represents the eagles claw. President Trump advances or retracts each position as he controls the market response. The objective is a slow, steady, smiling decoupling that doesn’t unnerve anyone… but the direction is always toward the decoupling.
President Trump is delivering the proverbial economic death by a thousand paper cuts.
An interesting new discovery amid revelations into the background motives of President Obama to weaponize the intelligence apparatus against his political opposition.
Today former Trump campaign foreign policy advisor Walid Phares identified himself as the fifth target in the August 2, 2017, Rosenstein scope memo. [The redacted section above] With this admission/discovery a more interesting background makes sense.
(Via John Solomon) […] Phares is speaking out for the first time, suggesting that one of the motives of those who made the allegations and sustained the investigation was to hamper the early Trump presidency’s foreign policy goals, including the 45th president’s long-promised plan to cancel the Obama-era Iran nuclear deal.
White House Trade Policy Advisor Peter Navarro outlines what many CTH readers are aware of. John Bolton begged for the job and enlisted Sean Hannity and Mark Levin to get advanced recommendations. That’s how he got in. However, as National Security Advisor John Bolton never understood the President Trump doctrine, using economics to achieve national security objectives. Underline it, highlight it, that’s the primary issue.
In this interview Navarro goes full wolverine on Bolton, and deservedly so. What Navarro outlines is the truthful reality. You can tell because it aligns at every level with what we watched every day while John Bolton was in the administration. God bless Navarro for truthfully calling the baby ugly. WATCH:
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John Bolton felt unimportant in the world of geopolitics because President Trump relied on the economic team of Secretary Mnuchin, Secretary Ross, USTR Lighthizer and Trade Advisor Peter Navarro to achieve national security objectives.
Bolton was the knuckledragger at the end of the table, useful as leverage, where Trump could point to him and say lets make a deal to keep the warmongers like this guy out of the picture. Bolton’s biggest problem was with that Trump doctrine.
The Big Con.
What Senator Josh Hawley called the fraud of “the conservative bargain” is taking on an entirely new light thanks to the work of The National Pulse in what should be a game-changing expose’ on just who is funding, or should we say ‘controlling’, key aspects of expressed U.S. conservatism.
President Trump, in a tenuous alignment with Senate Majority Leader Mitch McConnell, has previously said the list of judicial nominees presented, considered, nominated and confirmed, were assembled and vetted by two specific groups: The Federalist Society and the Heritage Foundation; both of whom claim to hold conservative outlooks.
As a result, it’s a little more than concerning to discover that both organizations are being funded by the ultra-left wing Google ideology. Yes, the same Big Tech outlet currently working on an advanced directive to block, control, censor and eliminate conservative speech on-line, is financing the organizations who claim to support conservative speech.
That revelation should get some attention…. but it won’t… because the same conservative pundits who are in place to get the attention of conservative Americans, and ultimately control what outrages should garner the attention of conservative thinkers, are financial benefactors of the same organizations under the control of their left-wing financing.
Think about that carefully.
Let that sink in.
Things starting to make sense now?