The latest 2nd quarter (April – June) GDP growth estimates have been revised to show an increase of 3.1% breaking the economic threshold of three percent President Trump established as a growth goal. Economists snarked it would never happen.
However, perhaps even more interesting for CTH readers who have been following MAGAnomic predictions, are the numbers inside the economy and the downstream activity within an economy focused on Main Street instead of Wall Street.

Here’s the presentation from Reuters.  I’ve pulled out some paragraphs that specifically relate to earlier discussions on the New Economic Dimension, and possible behavior.  It’s happening folks. What we earlier thought might happen is now happening.

WASHINGTON (Reuters) – The U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity.
Gross domestic product increased at a 3.1 percent annual rate in the April-June period, the Commerce Department said in its third estimate on Thursday. The upward revision from the 3.0 percent rate of growth reported last month reflected a slightly faster pace of inventory investment.

(more…)

Welcome to the dimension of bizarro world that is so far away from reality it creates it’s own gravity and inverts itself.   This position is actually being broadcast on national television.  Simon Rosenberg appeared on Tucker Carlson’s TV show to defend illegal immigration.  In his position he attempts an economic defense that he has carefully written out for recitation.

.
Rosenberg claims that because illegal aliens represent 5% of the population, and because the U.S. GDP is around $20 trillion – the economic value of illegal aliens is $1 trillion.
Let that sink in.  Simon Rosenberg is saying the U.S. Gross Domestic Product is an outcome of, or connected to, the size of the U.S. population.
For clarity.  There is absolutely NO relationship between the size of a nation’s population, any nation, and their Gross Domestic Product (GDP).  The GDP is simply the combined value of all goods and services produced in a country, minus their imported goods.  It has no relationship to how many people function within the country.
(more…)

An interesting report out of Washington DC highlights President Trump considering an executive order to allow health insurance policies to be sold across state lines.  Given the scope of the flexibility granted to HHS within the original ObamaCare construct this seems rather plausible.
Additionally, this report gains accuracy when considering how the corporate media apparatus have been targeting HHS Secretary Tom Price in the last several days. Attacking people of influence based on their threat level to the corporate administrative state is how DC and their corporate media apparatus work together.

WASHINGTON DC –  President Trump is preparing an executive order to allow people to purchase health insurance across state lines, a reform conservatives have long championed as a way to bring costs down and stir greater competition in the national marketplace.
The executive action gives the White House a chance to follow through on at least one promise related to healthcare reform after Senate Republicans’ second attempt to overhaul Obamacare failed this week. Kentucky Sen. Rand Paul first mentioned the action during a TV appearance Wednesday morning, saying Trump was considering taking matters into his own hands.

(more…)

President Donald Trump talked to reporters before a scheduled trip to Indiana and touched on the Alabama GOP senate primary, the state of the GOP health care bill, his tax plan and the controversy over the NFL protests:

(more…)

Whoo-doggies, Wilburine ain’t messing around with this dispute.
U.S. aerospace manufacture Boeing filed an unfair trade complaint against Canadian aerospace company Bombardier stating the Canadian government was subsidizing the manufacturing of 100- to 150-seat large civil aircraft.  Canada does subsidize their airline manufacturing, everyone knows this is true – even Canadians admit it.

Boeing was seeking an 80% import tariff on purchase contracts from U.S. airline carriers.  Secretary of Commerce Wilbur Ross looked into the trade dispute and agreed with the position of Boeing.  However, the Commerce Dept. did not stop at 80%. Wilburine estimated, then initiated, a whopping 219.63% countervailing duty assessment against Bombardier.
U.S. Commerce Department Announcement:

Today, U.S. Secretary of Commerce Wilbur Ross announced the affirmative preliminary determination in the countervailing duty (CVD) investigation of 100- to 150-seat large civil aircraft from Canada, finding that exporters of this merchandise received countervailable subsidies of 219.63 percent.
The Commerce Department will instruct U.S. Customs and Border Protection to collect cash deposits from importers of 100- to 150-seat large civil aircraft based on these preliminary rates.
“The U.S. values its relationships with Canada, but even our closest allies must play by the rules,” said Secretary Ross. “The subsidization of goods by foreign governments is something that the Trump Administration takes very seriously, and we will continue to evaluate and verify the accuracy of this preliminary determination.”

(more…)

President Trump and U.S. Secretary of Treasury Steven Mnuchin are is using the newly constructed sanctions authority to punish eight North Korean banks and 26 bank workers living abroad.
The Office of Foreign Asset Control (OFAC) sanctions (full outline below) rely on an executive order President Donald Trump signed last week to target North Korea’s access to the international banking system. The Trump/Mnuchin action comes as as a separate outcome from the recently passed United Nations sanctions package targeting North Korea.

The eight banks are all in North Korea. The Treasury Department says the 26 individuals are North Korean nationals employed by those banks who work in Russia, China, Libya and the United Arab Emirates.
Treasury Secretary Steven Mnuchin says the U.S. is targeting those “across the globe” who facilitate financial transactions for North Korea. He says it’s part of the effort to isolate North Korea over its nuclear weapons program. (link)

Treasury announcement below.
(more…)

Earlier today President Trump joined with Labor Secretary Acosta, Education Secretary DeVos and Ivanka Trump to sign an executive memorandum highlighting expanded STEM and Computer Science education access to students.

[Transcript] – 3:04 P.M. EDT –  THE PRESIDENT: Well, thank you all. It’s a great pleasure to be here with Secretary DeVos, Secretary Acosta, and Ivanka. I also want to express my appreciation to Representatives Bradley Byrne, Susan Brooks, Lamar Smith, and Virginia Foxx. Thank you all for being here. Thank you. Thank you very much for being with us. And Mimi Walters, thank you very much. Thank you, everybody. Thank you, Susan.
I want to just talk about leadership. It’s the most important issue. We need leadership in this country — women and girls and for every child in America, represented by all of the incredible students here today. These are great students. Are you all good students?
PARTICIPANTS: Yes!
(more…)

For those who have followed the months-long strategy of President Trump toward North Korea and China, the latest words from China fall squarely into place. Unfortunately for those who have not followed the approach, the consequential nuance will be lost.
What is happening publicly is entirely predictable when we accept what is happening privately, against the backdrop of activity that has taken place since February of this year.
Remember the Trumpian objective of creating the “Magnanimous Panda” as you read these latest words from Beijing:

UNITED NATIONS (Reuters) – Reacting to remarks by North Korea’s foreign minister on Monday, China’s U.N. Ambassador Liu Jieyi told Reuters the escalating rhetoric between North Korea and the United States was getting too dangerous and the only solution was negotiations.
North Korea’s Foreign Minister Ri Yong Ho told reporters that President Donald Trump had declared war on North Korea and Pyongyang reserves the right to take countermeasures, including shooting down U.S. bombers even if not in its air space.

(more…)

Round three of NAFTA begins this weekend in Canada.  According to a leaked possible itinerary obtained by Reuters the auto-sector “rules of origin” will be discussed on Tuesday or Wednesday.
The auto sector rules of origin have been exploited by China to send auto manufacturing parts into Mexico, including massive electronic components, where they are assembled and shipped into the U.S. under NAFTA.  This trade maneuver is an exploitation, a back-door per se’, of the NAFTA agreement by China which Secretary Ross and USTR Robert Lighthizer are committed to stopping.
Secretary Wilbur Ross explains in this recent CNBC interview. WATCH:

(more…)

Puerto Rico has been devastated by Hurricane Maria.  CTH can confirm there is almost no communication with the majority of those impacted by the devastating impact of Hurricane Maria.   Local officials are using satellite phones to gain residents the ability to contact their friends and family in the U.S. mainland. Critical infrastructure has been severely compromised.  Cell phone service is sporadic to non-existent.
Adding to and amplifying the problem was a general dependency on government assistance, by a large portion of the population, for basic needs prior to the storm.  The comfort of dependency has now worsened the desperation of the people on the island.

(Via Fox News) A humanitarian crisis grew Saturday in Puerto Rico as towns were left without fresh water, fuel, power or phone service following Hurricane Maria’s devastating passage across the island.

A group of anxious mayors arrived in the capital to meet with Gov. Ricardo Rossello to present a long list of items they urgently need. The north coastal town of Manati had run out of fuel and fresh water, Mayor Jose Sanchez Gonzalez said.

“Hysteria is starting to spread. The hospital is about to collapse. It’s at capacity,” he said, crying. “We need someone to help us immediately.”
(more…)