Horrific coincidence that might not entirely be a coincidence.  A Ukraine 737 Airliner, Flight 752 from Tehran to Ukraine, is lost shortly after take-off.  The incident takes place only hours after Iran fires ballistic missiles into Iraq targeting U.S. bases.

Video of the plane crashing shows the airliner in flames as it nears the ground and explodes.  Some preliminary reporting indicated the flight might have been accidentally shot down by Iranian anti-aircraft defenses.  [Note: All early details are sketchy]

(Via Daily Mail) A Ukrainian passenger plane carrying 170 passengers and crew has crashed near Tehran just three minutes after takeoff.
The plane had taken off from Imam Khomeini International Airport when it suffered ‘technical problems’, Iranian State TV reported.
Unverified video footage tweeted by the BBC’s Iran correspondent, Ali Hashem, appeared to show the plane burning in the sky before crashing in a huge explosion.

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Wait,… what? Who cancelled the recession?

Remember when the financial media and democrats were assuring everyone the U.S. economy was g.u.a.r.a.n.t.e.e.d to enter a recessionary phase? Well, apparently MAGA Trump cancelled it… with the help of millions of U.S. middle-class workers who are spending their wage increases, bigly.
The Bureau of Economic Analysis releases the third quarter (Q3) GDP growth estimate today, and the overall Q3 GDP growth is +1.9 percent. However, behind the economic growth stats the scale of U.S. Main Street strength is the real story.

[BEA pdf link – table 3]

Main Street consumer spending was up $64 billion on goods and $36 billion on services. As those who follow MAGAnomics closely will remember, the Main Street economy is founded upon middle-class spending. Strong jobs, wage growth, low taxes, low inflation, and low energy costs, means more disposable income.  Disposable income grew 4.5% in the third quarter.
The U.S. economy is strong because approximately 80% of everything produced inside our economy is consumed inside our economy. As long as the underlying jobs market stays strong, consumer spending leads to self-fulfilling economic expansion. Main Street is doing very well.
The weakness is Wall Street investment into expanded production of goods in the U.S.
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President Trump was scheduled to meet with House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer for a discussion over an infrastructure spending bill.  However, after partisan remarks by Nancy Pelosi accusing President Trump of a cover-up, any hope of negotiating an infrastructure bill collapsed.  President Trump is angered:

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In the aftermath of GM’s announcement to close the Lordstown, Ohio, auto assembly facility, President Trump worked earnestly to get GM to sell the facility and save jobs for the region.  Today President Trump and GM CEO Mary Barra announce the likely sale to Workhorse Group pending UAW union approval.

Washington (AFP) – General Motors Wednesday announced plans to invest $700 million in Ohio and to sell a shuttered plant to a company that makes electric trucks, drawing cheers from President Donald Trump who has assailed the US automaker for cutting American jobs.

“GREAT NEWS FOR OHIO!” Trump tweeted, revealing the details ahead of the company’s official announcement.

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President Trump holds a mini press conference with Small Business Administration head Linda McMahon to announce her departure.  During the presser President Trump also answers questions on a variety of current events. [Video and Transcript Below]

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[Transcript] Mar-a-Lago – Palm Beach, Florida, – 4:17 P.M. EDT
THE PRESIDENT: Well, thank you very much. Linda McMahon has done an incredible job as the head of the Small Business Administration. She has been a superstar. The fact is that I’ve known her for a long time. I knew she was good, but I didn’t know she was that good. She has been one of our all-time favorites. It was just so smooth. She’s helped so many people in the world of small business.
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While the MSM financial/wage reporting is two days apart from the BLS “JOLTS” release on job openings, the relationship is direct and connected.
CNBC is noticing the upward wage pressure is focused heavily on the middle-class workers and lower end of the labor market; another KPI (Key Performance Indicator) the economy is stronger than most financial pundits are admitting:

CNBC – The recent jump in paychecks has come with an unusual characteristic, as workers at the lower end of the pay scale are getting the greater benefit.
Average hourly earnings rose 3.4 percent in February from the same period a year ago, according to a Bureau of Labor Statistics report last week. That’s the biggest gain since April 2009 and seventh month in a row that compensation has been 3 percent or better.

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Fox News is reporting that Deputy AG Rod Rosenstein is anticipated to resign mid-March and be replaced by a hand-picked deputy by AG William Barr.  Initial reporting is that Jeffrey Rosen will be the replacement.

FOX – Deputy Attorney General Rod Rosenstein is expected to leave his role at the Justice Department by mid-March, a senior DOJ official told Fox News on Monday. (read more)

This timeframe would align with prior reporting that Rosenstein would exit mid-March simultaneous to the completion of the Robert Mueller investigation.

NBC REPORT WASHINGTON — Deputy Attorney General Rod Rosenstein, who had been overseeing the special counsel investigation, plans to step down after Robert Mueller submits his report, according to administration officials familiar with his thinking.

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The White House announces the primary trade negotiators who will be heading to China next week for another round of trade discussions.  In the background, yesterday President Trump announced there was no planned meeting between himself and Chinese Chairman Xi, which would indicate there is still a considerable distance between the trade delegations.
USTR Robert Lighthizer is the tip-of-the-spear, and has been very direct about his approach.  Lighthizer stated that without very specific, actionable and measurable deliverables included in the terms of agreement, the March 1st tariff increase will proceed without impairment.

[White House] Today, President Donald J. Trump announced the members of an official United States delegation to China to discuss the trade relationship between the two countries. United States Trade Representative Robert Lighthizer and Secretary of the Treasury Steven Mnuchin travel to Beijing for principal-level meetings that will take place from February 14 through February 15, 2019. These meetings will be preceded by deputy-level negotiations that will begin on February 11, 2019, led by Deputy United States Trade Representative Jeffrey Gerrish.

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Cory “Spartacus” Booker rallies his presidential coalition to advocate for the Green New Deal by comparing bovine flatulence regulation to the U.S. moon landing and defeat of World War II Nazism.
The over-their-head irony is that “Nazism” is technically national socialism; which is exactly the current point of political advocacy within the Spartacus coalition. WATCH:

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Tomorrow, Friday January 4th, the U.S. Labor Department will release the December jobs report which will offer an in-depth look at the labor market including: job additions, the unemployment rate, the labor participation rate and actual wage growth.
In the interim, the ADP National Employment Report provides a monthly snapshot of U.S. nonfarm private sector employment based on actual transactional payroll data. Their review of national payroll ledgers shows a stunning; 271,000 jobs added in December.

(link to ADP data – link to pdf)

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