President Trump was delivering another round of delicious Chopper Presser rebuttals to the MSM narrative engineers today, when he remarked about confronting China: “I am the chosen one”… And the media had the customary spontaneous ‘splodey head.
First, the people’s president is right, he is the chosen one. Through prayer and divine providence, we finally have a businessman fighting for Main Street USA. Secondly, it’s funny to watch an entire MSM apparatus that decries religion, suddenly searching for scripture in their anti-MAGA talking points. Too funny. Only Trump can achieve this.
Epic. Just epic. WATCH:
The Wall Street pundits are having a harder time pushing their recessionary economic narrative while the results from Main Street continue to beat expectations. Two data points continue to highlight the strength of Main Street: Home Sales and Wage Gains.
President Trump’s MAGAnomic policies are focused on delivering results to the middle-class worker and family. The middle-class American is the engine for a Main Street economy. Growing the middle-class is the key to strengthening the U.S. economy and blocking negative global economic influence. Growing the middle-class is how the U.S. economy continues to be self-sustaining. [We buy/use 80% of our own production.] Today The National Association of Realtors released data showing existing home sales rose 2.5% to a seasonally adjusted annual rate of 5.42 million units in July. Forecasters only expected 5.39 million units. The U.S. Main Street housing market is very strong.
Because the results defy pundit expectation, Reuters has to ignore the strength of Main Street and put the Wall Street spin on the results. The efforts to keep pushing a negative economic narrative are intense [Trillions At Stake]:
WASHINGTON (Reuters) – U.S. home sales rose more than expected in July, boosted by lower mortgage rates and a strong labor market, signs the Federal Reserve’s shift toward lower interest rates was supporting the economy.
President Donald J. Trump spoke by telephone with Prime Minister Boris Johnson of the United Kingdom earlier today to discuss a wide range of trade and economic issues. Prime Minister Johnson also provided the President with an update on Brexit. The President expressed great enthusiasm for his upcoming meeting with the Prime Minister at the G7 Summit in Biarritz, France. (link)
The G7 is being held August 24th – 26th. The word of a tentative post-Brexit U.S-U.K trade agreement was first released last week. The potential construct has the assembly of mutual benefit and follows a plan previously recommended by President Trump to Prime Minister Theresa May. (more…)
White House Trade and Manufacturing Advisor Peter Navarro appears on CBS ‘Face the Nation’ and ABC ‘This Week’ to outline the strength of the U.S. economy, and the current U.S-China trade reset, including tariffs.
There are trillions at stake. Food for thought – contemplate how Sunday media bookings take place. The ‘subject‘ for Sunday interview discussions, and who they need for their narrative engineering sessions (ie. interview schedules), are made by MSM *corporate media early in each week. [*U.S. Media are owned by Wall Street multinational conglomerates]
Obviously, as noted in the WH scheduling requests, the corporate MSM was planning to follow up and exploit their 48 hour engineered narrative (Tue/Wed) surrounding a false recession. Unfortunately the excellent Commerce Dept. economic data released Thursday crushed their objectives… Thus, the corporate media were tripped up mid-plan.
White House Trade and Manufacturing Policy Advisor Peter Navarro appears on CNN to debate economic policy with Jake Tapper. As customary Tapper attempts to use the Multinational Big AG talking points to identify farmers as victims.
♦The yield on the benchmark 10-year Treasury note dropped to 1.623% Wednesday for less than one hour; momentarily below the 2-year bond rate of 1.634%. The cause was a rapid influx of foreign capital, mostly from the EU (due to negative interest rates), into the U.S. to secure a return. This is not comparable to the historic ‘bond rate inversion’.
♦The biggest fallacy pushed in this interview, YET AGAIN, surrounds price impacts on Chinese imports. Tapper takes the talking points of the Wall Street multinationals, and their paid think-tanks, to push an empirically false assertion of the U.S. consumer paying for tariffs on China. Here’s the easiest refutation of that nonsense:
The Steel (25%) and Aluminum (10%) tariffs have been in place for two years.
The 25% tariff on $250 billion Chinese goods have been in place over a full year.
If the tariffs on China were impacting consumers, inflation would be much higher. In fact the exact opposite is happening. Because the protectionist Chinese and EU currency manipulation hits *ALL* imports, including non-tariff products, we are actually importing deflation.
National Economic Council Chairman Larry Kudlow appears on NBC with Chuck Todd to debate the issues surrounding current trade and economic policy. While Todd is obviously annoying, Kudlow makes two important points:
The Q3 CapEx (capital expenditure) spending reflects a domestic energy sector investment pause related to the dropped cost of oil. A fluctuation related to extraction costs and projected finished product price. [Energy companies pause on low price.]
The Sept. “Next Step” tariff delay relates to pre-contracted prices of holiday goods with the import price attached to lower dollar value at the time of contract. The delay allows the arrival of product without price impact. If products were determined with current valuations the current arrival price would have been lower (offsetting tariffs).
An interesting article in the South China Morning Post (SCMP) highlights how China is shifting their procurement priority from minerals used in manufacturing (cobalt, copper) to the acquisition of food and agriculture products. The impact is being felt throughout Africa, where mining companies are shutting down operations because Chinese demand no longer exists.
Articles like this highlight the ancillary impacts of a weakened Chinese economy.
Despite the proclamations by Beijing about their ability to withstand the withdrawal of the U.S. as a primary customer for manufactured goods, reality shows they cannot.
There is a confluence of events all leading to radical changes just below the surface. China has been burning cash to subsidize industries impacted by U.S. tariffs. Simultaneously Beijing has lowered the value of their currency in an effort to eliminate the tariff impact in the cost of their finished goods. However, as the ideological economic conflict between the U.S. and China continues, Beijing cannot hold their position indefinitely. (more…)
On Thursday June 20, 2019, Canadian Prime Minister Justin Trudeau traveled to Washington DC for a meeting with Speaker Nancy Pelosi and democrat leadership. After the political ideologues held the meeting, Trudeau and Canadian Foreign Affairs Minister Chrystia Freeland tabled the Canadian ratification on the USMCA trade agreement.
It was obvious both groups of avowed leftists agreed to stall the USMCA for politics. On August 13th White House emissary National Security Advisor John Bolton met with Britian’s Chancellor of Exchequer Sajid Javid, and the public became aware of efforts toward a six month post Brexit U.S-U.K trade agreement that would become effective on November 1st, 2019; immediately the day after Brexit was official.
On August 14th Speaker Nancy Pelosi quickly rushed a press release saying the House would never support that interim U.S-U.K trade agreement, using cover story of worry about Ireland/Northern Ireland peace accord. Beyond all the talking points the baseline reason for Pelosi’s opposition is Democrats do not support Brexit. Both the immediacy and the construct of the counter-maneuver by Pelosi were noted. [House in recess].
Immediately after the deal between President Trump and Prime Minister Boris Johnson became public; an intense international media effort began to push a narrative of the “U.S. heading to a recession”. The group of corporate financial media interests; those who advance the interests of Wall Street and are adamantly adverse to a global trade reset; and the political opposition to Donald Trump, began using a recession talking point in unison. (more…)
After federal authorities raided seven chicken processing facilities in Mississippi last week evidence is now surfacing (within probable cause affidavits – full pdf below) of willful and intentional illegal hiring practices. But don’t look for all the employers to be prosecuted. The Washington Post has an excellent outline of the seven facilities citing dozens of instances where evidence shows each company knew they were hiring people who were not legally eligible for work.
In a surprising number of cases the illegal employees were arrested by Border Patrol in California, Texas, New Mexico and Arizona and released on electronic-monitoring programs, including ankle bracelets, to await court dates.
According to the affidavits federal authorities tracked the GPS locators on some of the employees and found they were illegally working in all of the facilities. During interviews with the workers they stated how friends and family members in Mexico and Guatemala told them where to go for work in Mississippi. (more…)
Early on Tuesday United States Trade Representative Robert Lighthizer announced the modification of “next step” tariffs on Chinese products. [See Here] “Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.”
President Trump responded to the delay/modification when questioned in New Jersey. President Trump noted a “very productive” phone call between Lighthizer and Vice-Premier Liu He of China:
[Transcript Segment] – […] Q Why did you make the decision on the tariffs, to delay the implementation of the tariffs?
THE PRESIDENT: Only to help, I think, a lot of different groups of people. And we had a very good talk yesterday with China — a very, very productive call. I think they want to do something. I think they’d like to do something dramatic. I was not sure whether or not they wanted to wait until a Democrat has a chance to get in. Hopefully that’s not going to happen because the economy would go to hell in a handbasket very fast.
