Retired ICE Director Tom Homan appears on Fox News to discuss the latest illegal immigrant enforcement action in Mississippi.
(Reuters) – U.S. immigration authorities arrested nearly 700 people at seven agricultural processing plants across Mississippi on Wednesday in what federal officials said could be the largest worksite enforcement operation in a single state. (read more)
In a remarkable admission today on Twitter AFL-CIO Labor Union President Richard Trumka supports the principle of illegal alien workers taking the jobs of American workers. This is quite a bucket of sunlight upon a previously hidden agenda.
It is quite remarkable to see a large U.S. labor union now standing in support of illegal workers in the U.S. There was a time, throughout the history of labor unions, when some of the strongest immigration voices were against American worker displacement. Apparently that time is passed.
The United Food and Commercial Workers (UFCW) union was recently impacted by a federal immigration authority raid in Mississippi; which resulted in almost 700 illegal alien workers being identified and removed. In addition to the unlawful border entry, most of the illegal workers used fake documents, fake identifications and stolen social security numbers to falsify employment eligibility.
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It is hard to believe but it’s been three years since we first outlined what would happen if candidate Donald Trump’s “America First” policy was implemented. Specifically how the Federal Reserve would essentially become disconnected and functionally obsolescent for a few years. As a result of the evidence visible, we are in a unique position to explain.
Staying in the big picture, a disconnected Fed was very predictable. In the past 35 years the Wall Street multinationals gained as cheap money flowed overseas to start global manufacturing operations; Main Street USA suffered. When you reverse this process by punishing the multinationals (tariffs), shifting the global supply chain, and changing the best location for investment dollars, Main Street USA benefits. President Trump August 7th tweets statement:
Notice the “we are competing against other countries” part of the statement. This is key to understanding what is in the future. The Wall Street ‘multinationals’, corporations making and selling goods, are invested in production within other countries.
On one hand, Wall Street loves cheap money (low fed rates). However, on the other hand Wall Street multinationals are invested in overseas manufacturing; and those corporations don’t want to see the retention efforts of China and the EU undermined with a lower dollar value (lower fed rate). So Wall Street is schizophrenic (check the stock market).
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Wow. Go Wilburine! U.S. Commerce Secretary Wilbur Ross has slapped a whopping $4.4 billion countervailing duty on Chinese cabinet manufacturers. The rate of manufacturing subsidy identified within the ‘wood cabinet‘ study shows a massive 229% subsidy rate via discounted land, free lumber, electricity, raw materials, direct grants from government and discounted loans from Chinese banks to enhance export incentives.
The current study and duty only applies to wood cabinets and vanities, but if you ever wondered how come Chinese furniture is so cheap, well, it’s not a stretch to consider those same subsidy rates likely apply to their household furniture and wood products.
(Bloomberg) Add $4.4 billion in imported cabinets to the long list of Chinese goods slapped with U.S. levies in the escalating trade dispute between Washington and Beijing.
The Commerce Department said Tuesday it will ask the U.S. Customs and Border Protection to collect cash deposits from importers of the wooden cabinets and vanities from China based on subsidy rates of as much as 229%. Commerce issued a preliminary determination in response to a petition filed earlier this year by the American Kitchen Cabinet Alliance, alleging at least $2 billion in harm from the Chinese shipments.
CTH writes a great deal about President Trump’s economic policies, and how those policies are reversing the decades-long erosion of the middle-class. Factually, substantively and empirically the workers of America are gaining ground. Bigger and better than before, and far beyond what anyone else could have delivered.
This is not a theoretical exercise. The execution of a broad-based economic and global trade reset is underway. Today’s economic results, the growing strength of our U.S. economy, is a testament to the success of MAGAnomic policy being delivered. These results, when fully realized, will secure our economic future and last for generations.
All of that said, there is something we don’t emphasize enough: The team of Secretary Mnuchin, Secretary Ross, USTR Lighthizer, Trade and Manufacturing advisor Navarro and NEC Director Larry Kudlow, face a scale of opposition almost unfathomable in modern political terms. There are trillions at stake; hundreds of the most powerful financial interests in the world are against them; and yet this team is succeeding.
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National Economic Council Chairman Larry Kudlow, appears on CNBC to discuss the U.S-China trade conflict that led to yesterday’s stock market drop. Additionally, Kudlow notes the strong key performance indicators that highlight the strength of the U.S. Main Street economy.
White House trade and manufacturing policy advisor Peter Navarro, appears with Lou Dobbs to discuss the current status of the U.S.-China trade conflict.
Within the interview Navarro discusses the impact of China devaluing their currency as a strategy to avoid U.S. tariffs on Chinese imports. WATCH:
Beijing has once again used their proxy province of North Korea to launch small two short-range ballistic missiles as leverage in the U.S. and China trade confrontation.
WASHINGTON – For the fourth time in less than two weeks, North Korea has fired projectiles into the Sea of Japan, a U.S. official said.
The two projectiles, fired on Tuesday morning local time, were assessed to be similar to the short-range ballistic missiles tested by North Korea last week, the official said. (read more)
Moments later President Trump and Treasury Secretary Steven Mnuchin fired a counter-missile directly into the heart of Beijing’s trade currency manipulation:
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China needs to buy dollars to backstop their own currency (¥uan). When China trades with the U.S. they hold the return dollars as a peg against their weak currency. Remove the flow of dollars (lessen exports) and they start to run out of strong pegged currency.
What is happening today is not as much direct devaluation by China; rather they are intentionally allowing their currency to drop in value, in an effort to lower export prices and off-set any tariffs from the U.S. Simultaneously, Beijing is spending internally, burning cash, to keep their economy from weakening. Their Yuan burn rate is greater than the influx of higher valued dollars needed to hold their position.
They cannot keep this position indefinitely.
First, here’s a solid interview with former CEO Gerald Storch on how the currency devaluation leads to lower prices for U.S. consumers. Again, emphasizing the point that U.S. consumers are not paying for the tariffs against China. Watch:
President Trump’s MAGAnomic trade 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 repost an earlier dive into how MAGAnomic policy interacts with multinational Wall Street, the stock market, the U.S. financial system and perhaps your personal financial value. Again, reference and source material is included at the end of the outline.
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