Whenever we discover a financial analyst who understands the new dimension in U.S. economics (rare) it is worth revisiting them from time-to-time. Allianz chief economic adviser Mohamed El-Erian was one of the first MSM pundits to: (a) accept the disconnect between Wall Street and Main Street via de-globalization; and (b) begin to explain why that matters in the era of Trump.
El-Erian appeared this morning on Fox Business News to discuss President Trump’s re-imposition of steel and aluminum tariffs on Brazil and Argentina. Additionally El-Erian discusses trade tensions, market outlooks, consumer strength, recession fears, and the drag the rest of the world is placing in the U.S. economy.

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The U.S. economy is strong; all the fundamentals are solid. However, the multinationals on Wall Street -invested overseas- are more exposed. There is nothing that China and the EU can do to stop the de-globalization process; and efforts to stimulate their economy, more quantitative easing (pumping money) while the global supply chains are being shifted, are futile… they need “structural reform.”  The multinationals are holding cash, waiting to see how it plays out.
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The leaders of the twenty-nine NATO member nations are scheduled to meet next week in London, England.  Amid consistent pressure on the member states for increased defense spending to live up to their prior 2014 promises (Wales summit); and with NATO economies in a stalled geopolitical stasis due to their attachment to China (5G telecom), Russia (Nordstream II), and Iran; this summit holds increased possible ramifications.
This NATO summit could very well expose the duplicity and hypocrisy of the EU depending on how far U.S. President Donald Trump is willing to call them out.
There are going to be a lot of nervous snake handlers around the table(s), and with the U.K. elections in the near future there is a great deal at stake. The summit is Tuesday and Wednesday.  Here’s the White House background briefing:
[Transcript] – SENIOR ADMINISTRATION OFFICIAL: Good morning, ladies and gentlemen. I just want to thank everyone for being here today, Friday after Thanksgiving.
Just up front, this call is going to be on background, attribution to a senior administration official, and there will be an embargo on the contents of this call until it’s completed.
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Today President Trump has traveled to Pittsburgh, Pennsylvania to deliver remarks at the 9th annual Shale Insight conference.  Anticipated start time 3:40pm EDT.
UPDATE: Video Added

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Perhaps the only institution more corrupt than the Obama intelligence apparatus, writ large, was/is the Clinton constructed U.S. State Department.  Foggy Bottom is appropriately named as the septic tank for the Administrative State.
Former President Barack Obama carved out a segment of the financial indulgence, and thereafter purchased the acquiescence of Team Clinton, when he handed Dame Hillary the keys to the State Dept as an outcome of the 2008 election.  Barry from Chicago and his fellow travelers would weaponize the domestic apparatus, and Hillary could graft the international effort; thus, the compact was sealed…

The institutional bile, filth and corruption embedded within the the U.S. State Dept. is an outcome of an organization whose sole purpose is to generate credentials for leftists on their curriculum vitae; curry income for pontificating academics who have done absolutely nothing of inherent value in life; and advance ruling class ideologies through control of foreign policy.  The Birkenstock peaceniks, promote the global elitist ruse, demand accolades from the subservient proles, and use Hollywood as their PR division.
Therefore it comes as no surprise a four-year internal self-investigation of their own complicity results in little more than a carefully worded 9-page letter admitting, essentially, mistakes were made by allowing Secretary Clinton to construct a parallel communication network to avoid public scrutiny of her graft and scheme operations.

WASHINGTON – State Department identified nearly 600 security violations in its now-completed review of email records of dozens of former agency officials and aides to former Secretary of State Hillary Clinton.

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Folks, if you did not live and fight in the era of Andrew you might not see the master-level agitprop on display here.  This is epic and so well done.
The most well constructed agitprop is when you take the opposition message, infiltrate the constituency, and then advance the message to its logical conclusion.   If done effectively the audience will support the messenger while having no clue what is happening. WATCH:

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The Oscar worthy agitprop, delivered only by the best in the art form, leave all sides of the political spectrum wondering ‘is this real?’  This young lady has delivered.  Well done.
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President Trump tours a new cardboard manufacturing plant in Ohio with plant owner Anthony Pratt and Australian Prime Minister Scott Morrison.   During the tour President Trump stopped to make remarks to the traveling press pool:

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This is interesting.  CNN’s Martin Savage traveled to the democrat stronghold in Minnesota to talk about the 2020 election.  Much to the angst of the production unit they discover thousands of Minnesota voters have switched to support President Trump.

“Thousands of people switching and changing their politics?”  ….Yes, why yes they are.

The two key issues highlighted in the interviews surround President Trump’s economic policies: “he’s the party for jobs”; and President Trump’s immigration policies: “Ilhan Omar is not popular here.”   WATCH:

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President Donald Trump and Australian Prime Minister Scott Morrison will be holding a joint press conference from the East Room at approximately Noon ET.
[UPDATE: Video Added, Transcript will follow]

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Iranian backed Houthi terrorists used ten drones to attack Saudi oil production facilities in Saudi Arabia’s eastern province.  The attack caused Saudi Arabia to shut down half of their crude production facilities; repairs are underway.

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In response to the attack President Trump called Crown Prince Mohammad Bin Salman (MbS) to offer his support:

White House – Today, President Donald J. Trump spoke with Crown Prince Mohammad Bin Salman of the Kingdom of Saudi Arabia to offer his support for Saudi Arabia’s self-defense. The United States strongly condemns today’s attack on critical energy infrastructure. Violent actions against civilian areas and infrastructure vital to the global economy only deepen conflict and mistrust. The United States Government is monitoring the situation and remains committed to ensuring global oil markets are stable and well supplied. (read more)

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An interesting line-up of scheduled meetings (bilats) for U.S. President Donald Trump as the first official full day of the G7 Summit agenda takes place.
French President Macron has scheduled summit priorities around gender studies, global inequities, climate issues and planetary justice. However, the majority of international media focus will likely be on President Trump and Boris Johnson’s economic discussions.

♦ 2:15am EST / 8:15am CEST – THE PRESIDENT participates in a working breakfast with Prime Minister Boris Johnson of the United Kingdom of Great Britain and Northern Ireland, Biarritz, France
♦ 3:20am EST / 9:20am CEST – THE PRESIDENT departs Hotel du Palais en route to Centre de Congrès Bellevue, Biarritz, France
♦ 3:25am EST / 9:25am CEST – THE PRESIDENT arrives at Centre de Congrès Bellevue, Biarritz, France, the primary venue for the G7 Summit.
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