With massive civil unrest overwhelming many parts of French society, President Emmanuel Macron made a televised speech to the nation attempting to calm the anger. Macron declared a social and economic state of emergency and attempted to stop the ongoing Yellow Vest protests by announcing a special year-end bonus.
In addition to the year-end bonus, during the national address from the Elysee Palace Macron announced an increase in the minimum wage of €100 per month; a tax exemption on overtime pay; and a plan to not raise taxes on pensioners with an income less than €2,000/month.  Here’s the english version of the EU broadcast.

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When the same issues happened in Venezuela, Maduro followed a similar plan… things didn’t end well.   Macron has already committed the full weight of his police and military to crush any uprising.  Tenuous times in France.
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French President Emmanuel Macron may have maneuvered to block the growing uprising, but it’s quite possible he’ll lose his presidency in the process. French police took a much more aggressive posture this weekend.  The violence is disturbing.

In an effort to stop a replay of last week’s violence, French police moved in pre-dawn raids to round up those they identified as leaders of the Yellow Vest protest movement. In the city of Paris over 800 arrests were made by Macron’s forces and the French military were deployed. Overall, throughout France more than 1,400 arrests were made so far.
As the sun set, less organized protests continued as frustrated French set fire to cars, burned barricades and smashed windows in isolated geographic pockets within the city. Police forces were boosted to around 8,000 across Paris, with EU armored vehicles deployed in the city of lights for the first time in modern history. The pictures are stunning.
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Yikes, and a simultaneous ‘Wow’.  French President Emmanuel Macron has officially shut down Paris this weekend in his attempt to stop the “Yellow Vest” populist uprising against current political policies.
The primary tourist venues are all closed; shops ordered to close; windows boarded up; 8,000 police units dispatched to Paris and 89,000 deployed throughout the country.

PARIS (Reuters) – Paris was in lockdown early on Saturday with thousands of French security forces braced to meet renewed rioting by “yellow vest” protesters in the capital and other cities in a fourth weekend of confrontation over living costs.
The Eiffel Tower and other tourist landmarks were shut, shops were boarded up to avoid looting and street furniture removed to avoid metal bars from being used as projectiles. About 89,000 police were deployed across the country.

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The Bureau of Labor Statistics (BLS) has released the latest jobs report for November.  The U.S. economy created an additional 155,000 jobs.  The unemployment rate remains 3.7%.  The annualized rate of wage growth is 3.1%.   All good MAGAnomic news.
It’s a little funny to see the pontificating naysayers worry over results that are structurally solid and fundamentally strong.  If you had told those same knuckleheads a year ago that wages would be growing 3.1% they would have been stunned at your audacious optimism.

Things are going swimmingly. Exactly as predicted.  Wall Street (paper economy) is reacting based on an entirely new economic landscape.  Main Street USA (read economy), the Blue/White collar middle-class, is dancing and singing carols en-route to buy the fancier set of Christmas decor this year… Who’s better than our economy?  Nobody, baby, no-body…  Throw them ju-ju bones out the windows.  Here’s the data:
BLS Report: Total nonfarm payroll employment increased by 155,000 in November, compared with an average monthly gain of 209,000 over the prior 12 months. In November, job gains occurred in health care, in manufacturing, and in transportation and warehousing. (See table B-1.)
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Background first:  There’s a massive shifting of manufacturing in the auto-industry and President Donald Trump is at the center of it.  The USMCA trade agreement is the newly constructed Trump fulcrum underneath the structure of all auto manufacturing.  POTUS Trump has shifted the location of this fulcrum through auto-tariffs; and the final determinations therein are still ongoing.
On Tuesday, POTUS invited the EU auto executives to the White House.  No doubt Trump, the executive businessman, was seeking to understand their position on how the EU crew will comply with a 75% USMCA rule of origin…. and feel-them-out over what leverage he could apply (tariff threshold) to enhance their manufacturing relocation decision.

Example: With tariff at 2.5% they won’t move anything just pay the duty; however at 10% or higher they might move engine building or transmission building to North America etc to get inside the rules of origin threshold.  Trump was likely exploring the Mercedes, VW and BMW perspectives while Angela Merkel was gnashing her teeth… “curse you villian”.
President/Businessman Trump is setting up a future for high-wage U.S. manufacturing workers.  POTUS is in apex predator mode… the combination of USMCA and tariff possibilities are like blood in the water surrounding: Dr. Dieter Zetsche (Mercedes), Dr. Herbert Diess (VW), and Dr. Nicholas Peter (BMW); while Trump asks questions.
Mike Manley the new CEO of Fiat Chrysler wants nothing to do with that scenario.  He ain’t about to get in the water.  Swimming with Trump? Oh, hell to the no:
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White House trade adviser Peter Navarro appears on Fox Business to discuss the possibility of trade deals between the U.S. and China.  Navarro explains the Buenos Aires dinner meeting and how Chairman Xi outlined his position on three buckets of U.S. concerns.
Charles Payne is going bananas because he doesn’t understand what happens in the space between two different sets of economic policy benefactors:  Wall Street and Main Street.
Wall Street is going to lose ground; period.  Their financial interests are dependent on retaining the status-quo multinational/global economic systems.  President Trump is supporting Main Street over the interests of Wall Street.  Stocks that are centered on U.S. blue-collar companies, domestic benefits, will grow; all other multinational stocks will not.

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Within the dynamic of the U.S -vs- China trade confrontation, CTH noted the Wall Street (globalist) multinationals would likely go bananas.  There are trillions at stake and President Trump is confronting three decades of financial influence from the corporate lobbyists.   To the angst of Wall Street, POTUS Trump tweets the dynamic:
President Trump has been brutally consistent for more than three decades on his intent and purpose with the Chinese.  President Trump is the first U.S. President to understand how the red dragon hides behind the panda mask.
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Breaking overnight the French government is attempting to stem the growing civil unrest by announcing they will suspend the plan to implement the upcoming fuel tax.  However, the Yellow Vest protests have grown to personify much more than a new fuel tax.
The protests have morphed into a much larger anger about the influence of a disconnected elite political class, personified by President Emmanuel Macron, over the lives of the ordinary French citizen.  The fuel tax was the last straw, the underlying issues remain.

(Via Associated Press) PARIS (AP) — French Prime Minister Edouard Philippe is to announce a suspension of fuel tax hikes, a major U-turn in an effort to appease a protest movement that has radicalized, French media reported Tuesday.
Both Le Monde newspaper and France Info radio said the planned increase, which has provoked riots, will be suspended for several months. Philippe is also expected to announce other measures aimed at easing tensions, just three weeks after claiming that the government would not change course and remained determined to help wean French consumers off polluting fossils fuels.

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One of the less discussed aspects to President Trump’s economic cabinet is the careful selection of specific members who operate above the financial influence of ‘The Big Club’. Commerce Secretary Wilbur Ross and Treasury Secretary Steven Mnuchin are two key positions able to focus on economic nationalism without worrying about undue influence from the globalist lobbying pressure of Tom Donohue and the U.S. CoC.
The baseline of financial independence, and disconnect from self-interest, is unique in our lifetime; and allows the resulting execution of economic policy to focus, very deliberately, on America First objectives.  Secretary Mnuchin discusses the China confrontation:

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A lengthy interview (recently released) between Greta Van Susteren and President Donald Trump at the G20 summit in Argentina.  The topics include: the USMCA trade agreement; the conflict between Russia and Ukraine; overall global trade; issues within the global climate change economy; Brexit, China, the U.S. economy and immigration.
As most CTH readers are aware MAGAnomic policy, economic nationalism, is the largest focus of President Trump.  Beyond all other issues, this is the POTUS priority. Within this interview the president walks through the geopolitical issues and interests for the U.S. economy.  Well worth watching:

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