NEC Chairman Larry Kudlow appears with Maria Bartiromo to discuss the current economy and the state of MAGAnomics. Kudlow discusses how the central beneficiaries of MAGAnomics are blue-collar workers and Main Street companies.
The Bureau of Labor Statistics (BLS) releases the October 2018 jobs report and the Ju-Ju bones are jumpin’. A quarter million new jobs created, vastly exceeding all expectations. Every sector increased in jobs:
Total nonfarm payroll employment increased by 250,000 in October, following an average monthly gain of 211,000 over the prior 12 months. In October, job growth occurred in health care, in manufacturing, in construction, and in transportation and warehousing. (See table B-1.)
Health care added 36,000 jobs in October. Within the industry, employment growth occurred in hospitals (+13,000) and in nursing and residential care facilities (+8,000). Employment in ambulatory health care services continued to trend up
(+14,000). Over the past 12 months, health care employment grew by 323,000.
In October, employment in manufacturing increased by 32,000. Most of the increase occurred in durable goods manufacturing, with a gain in transportation equipment (+10,000). Manufacturing has added 296,000 jobs over the year, largely in durable goods industries.
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Well, there it is. Quietly within the deliberate words from Vice-President Mike Pence a revelation that explains the origination of the Central American invasion force. For those who are not deep in the geopolitical weeds, the subtlety can pass unnoticed; for those who travel within the deepest international conflicts, Pence’s words here are as subtle as a brick through a window:
[…] “Financed by Venezuela; and sent North to challenge our sovereignty and our border”…
[wpvideo tXWLlFMs]
Announcing the migrant caravan is “financed by Venezuela” is a direct notification the Central American invasion force is being funded by Russia and China. Venezuela doesn’t have any money to sustain its own operational government – let alone a 10,000 person convoy. Venezuela is entirely reliant upon massive investment from Russia and China.
In fact China owns 49% of Venezuela’s state run PDVSA energy production. A collateral system where Beijing takes oil as payment for prior loans the Maduro regime cannot pay back. With the crippling treasury department sanctions President Trump put on Venezuela last year, Trump has punched Maduro and Xi-Jinping hard.
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National Economic Council Director Larry Kudlow discusses the outlook for U.S. economic growth, the jobs market, training and vocational initiatives and the expansion of benefits and wages for blue-collar workers.
Interior Secretary Ryan Zinke discusses one of the epicenter issues surrounding U.S. economic growth and the importance of energy independence. Secretary Zinke discusses the objective within reaching a production output of 14 million barrels per day of U.S. Oil and natural gas by 2020.
Energy independence is one of the specific examples of creating another economic pie, as opposed to trying to carve up and distribute existing ones. Energy is one of our biggest and underappreciated assets. Think about how GDP growth expands when the economy adds an entire export sector that was previously non-existent.
Secretary of the Interior Ryan Zinke is joined by Southern Ute Indian Tribe Councilman Adam Red to discuss boosting U.S. oil production, drilling on the Ute Indian Tribe’s land, deregulation and reforming regulations such as the Endangered Species Act.
Earlier today President Donald Trump welcomed a group of American workers into the Oval Office for a discussion of removing “red tape” and barriers to economic expansion.
The Bureau of Labor Statistics has released some remarkable economic data today. There are more than seven million current job openings [See Here] and the year-over-year average wage gains are 3.3% [See Here]
Tonight President Donald Trump his heading to Council Bluffs, Iowa, where he will hold another MAGA rally in advance of the 2018 mid-terms. President Trump is anticipated to make an announcement about a review for enhanced ethanol use.
President Trump is scheduled to appear at 7:30pm ET, with pre-rally events ongoing:
UPDATE: Video Added
Hold on to your MAGA caps there’s a winner wonderland ahead. According to the latest ADP private payroll release today, private sector payrolls grew by a stunning 230,000 jobs in September. [They were anticipating 185k] Massive jobs gains amid small, medium and large sized companies (report here).
This comes on the heels of the latest stats on paychecks which show *average* wage gains around 2.6% over last year. Key word “average“. There are multiple job sectors with wage increases of four to seven percent; well above the rate of consumer price inflation.
(Via CNBC) Job growth surged in September to its highest level in seven months as the economy put up another show of strength, according to a report Wednesday from ADP and Moody’s Analytics.
Private companies added 230,000 more positions for the month, the best level since the 241,000 jobs added in February and well ahead of the 168,000 jobs added in August.
Every quarter, CNBC surveys its Global CFO Council to gain insight into the status of the current global economy. The CFO council is comprised of Chief Financial Officers of the world’s largest 113 companies that combined are worth nearly $5 trillion. Interestingly the council is comprised almost exclusively of multinational corporations who are generally opposed to President Trump’s MAGAnomic trade reset.
However, in the third quarter survey the CFO’s note that only one economy in the world is currently improving, the United States.
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