I always find it amusing that ABC News never publishes the excerpts of interviews (on their YouTube channel) that run counter to their political ideology. I digress…
Commerce Secretary Wilbur Ross appears on ABC to talk trade with George Stephanopoulos. Secretary Ross highlights a key point in the discussion about how post-World-War-II trade tariff policies were intentionally constructed to lift Germany, Japan and economically devastated nations after the war. This was the origin of the progressive trade association that became the WTO.
[Ross’s segment begins at 38:45 of the video below – prompted, just hit play]
Senator Joe Manchin appears on Face the Nation and highlights his support for the Trump trade initiatives. The cross-party MAGAnomic support highlights an aspect to President Trump policy that is unique to this administration. [ DEEP DIVE HERE ]
Within the aggregate MAGAnomic policy of President Trump there are two central components: taxes and trade. With the ‘tax element’ completed, the administration will likely jettison some of the Wall Street crowd as they focus on the trade issues that specifically benefit Main Street.
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The application of “economic nationalism” as a policy is adverse to the interests of multinational corporations. The multinationals have been purchasing U.S. policy through DC politicians for decades. However, the last 30+ years have seen exceptionally high increases. (read more)
Earlier today one of the more consequential meetings took place between President Trump and his economic team -vs- the professional UniParty apparatus consisting of multinational corporate-purchased Democrats and Republicans.
The policy discussion isn’t sexy or headline making from the perspective of the U.S. media; however, the resulting outcomes will have more of a bearing on you and your family than any other economic policy conflict in this administration.
On one side we have President Trump and a very focused policy and trade group containing Commerce Secretary Wilbur Ross, Treasury Secretary Steven Mnuchin and U.S. Trade Representative Ambassador Robert Lighthizer. On the other side the corporate UniParty apparatus consisting of U.S. Chamber of Commerce Republicans and Democrats.
An encapsulated view would be Main Street (Trump) -vs- Wall Street (UniParty).
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This is THE battle. This is the “trillions at stake“. Everything else is chaff and countermeasures; a war is being waged around this financial issue. Everything within the current conflict is downstream from the economic argument around these issues.
This is the epicenter of the entire institutional conflict against President Trump. This is why THE SWAMP, through all its various affiliated and indulgent enterprises – including the intelligence apparatus, are waging a battle against the disruption that is President Trump.
U.S. Secretary of Education Betsy DeVos gave a far-ranging speech Tuesday in Washington at an American Enterprise Institute conference, “Bush-Obama School Reform: Lessons Learned.”Most media reporting outlines Mrs. DeVos presentation to state ‘the era of common core education is now dead“…
The full transcript of Secretary DeVos remarks is below: [Transcript] “Thank you, Rick, for that kind introduction. Who would’ve thought that after we were last together on a panel in Grand Rapids a couple of years ago, I’d be here in this capacity today?
It’s an honor to be with all of you at an organization I have long appreciated.
AEI is now in its 80th year and in that near century, the Institute’s scholars have influenced and shaped the way Americans think about so many issues in the public square. AEI has been – and will continue to be – a treasured constant in this town of transition. And it should be noted that’s due in no small part to the leadership of Arthur Brooks, who brings a unique and compelling perspective. I’m grateful to call him a friend. (more…)
$64 billion of the current annual trade deficit with Mexico stems from the auto sector alone.
For over a decade auto manufacturers have moved to Mexico in order to import parts from Asia, assemble and install them, and then ship the completed cars into the U.S. through NAFTA without duties (tariffs).
The U.S. auto ancillary business groups (parts suppliers) have been pushed out of competition in the auto sector by this corporate profit strategy. Thousands of U.S. jobs have been lost in both the plant assembly and the ‘auto-parts’ manufacturing sector.
CTH has called attention to this bastardized supply chain for years. Foreign auto-parts, made by foreign workers, assembled into U.S. owned manufacturing, and sold as U.S. automobiles. The weird supply chain and assembly process is essentially a multinational corporate scheme (in the auto sector) which exploits one of the loopholes in the 25-year-old NAFTA agreement.
If the assembly plant was on U.S. soil the foreign (mostly Asian) parts would be taxed as imported parts. However, so long as the assembly is in Mexico (or Canada), the origin of the parts is currently irrelevant, and the finished automobile crosses the border into the U.S. avoiding the taxes using NAFTA. (more…)
Well, well, well. In what can only be described as perfectly representative of the perspectives of Canada, Mexico and the U.S., the principals within NAFTA [Robert Lighthizer (U.S.), Chrystina Freeland (Can), Ildefonso Guajardo (Mex)] showcase their unique positions during a press conference at the conclusion of round #4.
U.S. Trade Representative Robert Lighthizer begins with the elements of a statement that all parties agree upon. Not much. (Transcript added)
Next comes the smug, self-righteous, and virtue signaling Canadian economic parasite Chrystina Freeland; with an over-the-top emotional plea about how military cemeteries should form the basis of multinational trade deals because trade sectors should be based on her feelings, or something. Mexican economic parasite Ildefonso Guarjardo joins the CanMex position decrying the insufferable demands of the economic host: “we must understand that we all have limits.” Then comes the hammer. Lighthizer announces to both parasites their positions are fraught with hypocrisy and self-preservation; and the time to reset the imbalance is now. Pointing out how Canada and Mexico agreed to TPP text they are now rejecting in NAFTA, and specifically identifying how their companies have become reliant on special preferences, Lighthizer lets Canada and Mexico know that the time for their feasting on the host is OVER. Watch (transcript added below):
The distance between the parties is too significant and a diplomatic “cooling off” period of one month is agreed upon; prior to entry into round #5 which will take place in Mexico, mid-November. The goal of an agreement, if any agreement is possible, concluding by the end of the year is gone. (more…)
Well this is interesting. The Mandalay Bay hotel security guard Jesus, “Jose'” Campos, who was hailed a hero in the first week post-massacre, was supposed to appear for media interviews…. he disappeared.
Now it is reported Mr. Campos walked out of the interview venue and checked into a clinicright before the interviews were scheduled to begin:
(Via Daily Mail) Jesus Campos, the hero security guard who was shot in the Las Vegas hotel massacre, checked into a ‘quick clinic’ after vanishing moments before he was due to speak to the media for the first time since the attack.
The security guard is yet to be interviewed since he was shot by Stephen Paddock on October 1 on the 32nd floor of the Mandalay Bay hotel.
Zogby Analytics is out with a new survey of 1,300 “Likely Voters” and shows President Trump’s approval numbers are climbing and now around 45%. However, the interesting aspect of the survey is the groups showing the highest gains in approval. It won’t surprise you to discover the strongest gains in support for President Trump can be found amid the middle-class and working population of the U.S. Those who are benefiting the most from Trump’s America-First Main Street economic policy are the constituent group with the largest gains in support. Highlights:
♦Trump’s approval numbers have moved up slightly, especially among his base and a few other sub-groups not known for their support of the president.
♦When it comes to party, President Trump’s numbers are steady among Republican likely voters; he has a 76% approval/22% disapproval rating among Republicans, which is almost identical from our July poll. Among Independents, Trumps numbers have improved nearly seven points to 40% approval/50% disapproval. The president’s numbers are still down among Independents from a few months ago.
President Trump is participating in a major jobs and manufacturing announcement from the White House. It is widely expected that a major investment by Foxconn will be the centerpiece of the event.
President Trump, along with Gov. Scott Walker and other Wisconsin leaders will make the announcement that Taiwanese manufacturer Foxconn will announce it will build a new factory in Racine County. Foxconn is a partner with Apple, manufacturing technological products. That factory is expected to create 10,000 jobs. The electronics giant will build liquid-crystal display factory in Wisconsin. UPDATE: Video Added
There was a widely read Chicago Tribune op-ed written a few days ago outlining an approach to dissolve the entire state and apportion the geography to Wisconsin, Indiana, Kentucky, Missouri and Iowa. –SEE HERE– It was written tongue-in-cheek, but with an uncomfortable level of reality behind it.
Illinois has been struggling with its finances for a long, long time.
The Illinois long-term labor pension liabilities are ridiculous in the extreme. However, things just went from bad to jaw-droppingly, gobsmackingly, unbelievably worse.
According to the latest financial media reports, Standard and Poors Global Ratings agency has positioned Illinois bonds to drop below “investment” grade; that would make Illinois the first state in the nation to achieve “junk bond” status.
(Via ABC) Illinois is on track to become the first U.S. state to have its credit rating downgraded to “junk” status, which would deepen its multibillion-dollar deficit and cost taxpayers more for years to come.
