Office of Management and Budget Director Mick Mulvaney appears on CNN today with Jake Tapper to discuss the Tax Reform Bill and the current Senate version.
Tapper has the ‘Media Matters’ talking points cued up; however, unfortunately for Tapper, Mulvaney knows the intricacies and swats the annoying gnatter chat. Actually, in the $30k example provided by Tapper – Mulvaney went easy on him.

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Interestingly, Mick Mulvaney was also appointed to be the interim head of the CFPB this week; which has ramifications for left-wing economic control loons far greater than the tax reform package.  [More on that later.]  OMB Director Mick Mulvaney also appeared on CBS with John Dickerson (below):
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There is a notable intent to talk down the economy amid almost all financial news providers.  However, despite their negative tone the economic reality continues to surpass their Eeyore disposition.
October’s U.S. housing starts jumped +13.7% to 1.29 million units and now begins to catch up with the underlying economic data.
You’ll note CTH discussed how housing would be regionally specific as the larger Main Street MAGAnomic policies were implemented.
Capital expenditures by home builders and home purchasers are the biggest financial decisions for most American workers.
Due to the deliberate factors involved, home purchasing is the largest railroad car in the economic train; it is also positioned in the rear of the economic sequencing.  However, when home building takes off the entire economic train gains momentum.

(Via Reuters) […] The sharp rebound in home construction reported by the Commerce Department on Friday was also driven by robust gains in the Northeast and Midwest regions.
The broad recovery could ease concerns about the housing market, which has been a drag on economic growth since the second quarter. The report added to labor market, manufacturing and retail sales data that have pointed to strong economic momentum as the year winds down.

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Multinational corporations and foreign governments spend hundreds of millions in Washington DC lobbying House and Senate politicians to retain trade positions.  It’s generally a legal bribery business where congressional representatives get rich by selling their votes to corporations and foreign governments.
Most of you already know the game: It’s a big club, and we -the working class- ain’t in it.
Fortunately for us, President Trump won the election without funding from the big corporations and lobbyists within the U.S. political system.  As such they cannot influence Trump’s decisions on economic policy matters and trade; and President Trump rarely invites them into the White House for policy meetings.
Specifically because the lobbyists don’t have access to the White House they rely on their purchased politicians in the House and Senate to influence the administration.

The multinational corporations and multinational banks are against the U.S. removing ourselves from multilateral trade agreements.  Those institutions rely on being able to manipulate the U.S. consumer market – EXPLAINED HERE.  The biggest influence agent, and by far the biggest lobbyist spender, is Tom Donohue, President of the U.S. Chamber of Commerce, who represents the interests of the multinational corporations and Wall St.
So when you see these letters, knowing they are written by K-Street and transcribed onto legislative letterhead by political staffers, all you need to do is look at the signatures of the politicians and you can quickly identify who has been purchased by Tom Donohue:
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No-where is Trump Derangement Syndrome more evident than in the position of activist Democrats now swearing allegiance to multinational trade deals.
It was only a short time ago when Democrat activists and liberal politicians demanded U.S. withdrawal from TPP and openly discussed how NAFTA was disastrous for the U.S. worker. Both Bernie Sanders and Hillary Clinton ran on pulling out of TPP etc.
Trump gets elected, actually fulfills a campaign promise and promptly pulls-out of TPP subsequently beginning to renegotiate NAFTA (with leveraged threats to withdraw); and suddenly, Democrats are joining arm-in-arm with corporate Republicans expressing their profound love for multinational trade deals. Go figure.

Round #5 of NAFTA renegotiation begins today in Mexico, absent any diplomatic trade ministers, and Canada announces their intent to use their access to congress as leverage over the executive branch in an attempt to work around President Trump:

OTTAWA (Reuters) – Canada will redouble its lobbying efforts in Congress to block any Trump administration move to pull the United States out of NAFTA, sources familiar with government strategy said, as talks to modernize the treaty run into trouble.
[…] Canadian officials say there is some considerable doubt as to whether Trump could pull out of NAFTA without approval from Congress, which makes lobbying its members so important.

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Almost everyone understands the term “re branding”. Don’t laugh when you consider the possibility of re-branding Kim Jong-un; and more importantly, as an outcome, the entire geopolitical architecture of North Korea.  Rebranding takes time. This type of re branding takes silent and subtle persuasion.

It’s not a short term process, but look for indicators like this to ever-so-slowly morph. China’s Xi Jinping seeding ploughshares over missiles needs careful and controlled fertilization.
Business suits replacing General’s uniforms would be very good for the people of North Korea. Ultimately that’s an honorable goal.
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President Trump left the Philippines a little early Tuesday after the East Asia Summit schedule was running late.  According to Reuters President Trump left Secretary of State Rex Tillerson to attend the plenary session.

[Pool Report] POTUS, wearing a blue tie, exited Marine One, walked to Air Force One, shook a few people’s hands and scaled the stairs. He entered Air Force One at 3:12 pm and waved.
Trump did not stay for family photo with the 18 members of the East Asia Summit. The event was running behind schedule and he opted to leave.
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CTH has a strong sense that when the final analysis on Venezuela’s ongoing socialist struggle is written, some years from now, the geopolitical strategy used by the Trump administration will be taught in political science classes. [Backstory Here]
As a result of horrific socialist policies, primarily driven by using oil production to maintain it’s socialist governance, Venezuela is under massive debt and desperate for cash.  The United States was one of the few remaining cash purchasers of Venezuela oil before U.S. Secretary of Treasury  Mnuchin imposed sanctions.
Previously China and Russia purchased Maduro’s oil, however their current purchases are/were all made as offsets, repayments, for prior loans.  China and Russia already own 49% of Venezuela’s state oil company PDVSA. Venezuela repays China and Russia with oil, but Venezuela needs cash revenue. It doesn’t generate additional revenue for Maduro if China and Russia purchase more oil, it only pays down the Venezuelan debt.
Venezuela needs money.  However, if anyone engages in restructured debt or further loans or bond holdings to Maduro they run the risk of running afoul of Secretary Mnuchin’s sanctions which could have a downstream effect of freezing their own banks and international financial systems from engagement with U.S. banks.
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Those who have walked in the deep weeds of geopolitical strategy know the emphasis the Trump administration has placed on ASEAN (Association of South-East Asian Nations) as a counter-balance (control leverage) to the Chinese trade and military expansion.
The ongoing trade and security relationship between the U.S. and India, as well as other regional partners, is a large part of the overarching dynamic.  The ASEAN Summit in Manilla Philippines is an opportunity for President Trump to expand the conversations; enter into deeper discussions surrounding the terms of partnership; and deepen commitments toward larger U.S. international objectives.

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The ASEAN (Association of Southeast Asian Nations) region including India, comprises a combined population of 1.85 billion people, one-fourth of the global population. From the perspective of India – “Prime Minister Modi is likely to reassert India’s push to create a global approach to deal with terrorism. He will also pitch steps to boost regional trade. One of the more significant meetings will be Prime Minister Narendra Modi’s meeting with US President Donald Trump.”
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Just love this guy. Remember to teach your kids, grand-kids, family etc. about the unknown wolverine, the third musketeer, United States Trade Rep. Robert Lighthizer.

Da Nang, Vietnam – United States Trade Representative Robert Lighthizer today released the following statement in response to President Trump’s speech on trade between the United States and the Indo-Pacific region, at the Asia Pacific Economic Cooperation (APEC) CEO Summit (emphasis mine):

“The President spoke loud and clear: the era of trade compromised by massive state intervention, subsidies, closed markets and mercantilism is ending. Free, fair and reciprocal trade that leads to market outcomes and greater prosperity is on the horizon.
“President Trump understands that too many nations talk about free trade abroad, only to shield their economies behind tariff and non-tariff barriers at home. The United States will no longer allow these actions to continue, and we are willing to use our economic leverage to pursue truly fair and balanced trade.
“I look forward to doing as the President instructed me and to pursue policies that will improve the lives of our workers, farmers and ranchers.” (link)

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All leading economic forecasters said it would be impossible for President Trump’s MAGAnomic plans to generate 3% GDP growth in the first year.  President Obama said it was impossible and Trump would need a “magic wand, or something“.
Well, three months after taking office (April-June), it was Quarter 2, and the U.S. GDP began growing over three percent.  Again in Quarter 3 (July-Sept), the same benchmark was exceeded. And now Q4 (Oct-Dec) the New York Fed says, yes, GDP growth is 3.2%.

NEW YORK (Reuters) – The New York Federal Reserve on Friday kept its view on U.S. gross domestic product growth for the fourth quarter near 3.2 percent given the dearth of economic data this week. (link)

Remember, these are forecasts within the current quarter.  CTH is specifically predicting the actual result will be much, much higher. With consumer confidence at the highest rate ever recorded (link); combined with MAGAnomics pushing down the cost of living and increasing disposable income (link); combined with wages rising (link); combined with early indicators that consumer spending this holiday season will be the biggest ever (link) and (link) and (link)….
Hold on to your economic britches peeps – throw dem ju-ju bones out the windows – grab hold of the young-un’s, squeeze em tight and introduce them to their first opportunity to see capitalism unchained; we are in uncharted MAGA territory now.  Q4 will be well beyond 3.2%…  Well Beyond.
Believe Me.
Bigly.
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