Council of Economic Advisers Chairman Kevin Hassett appears on Fox Business news to discuss the impact of the Federal Reserve’s interest rate hikes on the Main Street economy and the state of the Wall Street stocks.
The key metric is to accept what’s happening around us.  Fed rate hikes are hurting Wall Street (investment class).  However, Fed activity is not yet impacting Main Street.  This is because the two economic engines (Wall St. -vs- Main St.) are so far apart.

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Part Two of this interview (and expanded review) is below:
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Much misplaced anger is visible.  President Trump wants the southern border wall; he is being opposed by every interest who doesn’t want it.  The people in DC who are opposed to border security, are the people who write the laws.  I’m not talking about congress; I’m talking about the real people who actually write the laws, the lobbyists.
Right now Majority Leader Mitch McConnell and Minority Leader Chuck Schumer are writing a short-term continuing resolution to fund government and avoid a shutdown.
They know President Trump is quite comfy with a shutdown.
Why would republican Mitch McConnell take such an action that puts the republican President in a position of opposition and compromise?
Because he wants to, that’s why.
President Trump said he wouldn’t sign another CR that didn’t fund the border wall.  Right now Mitch and Chuck are writing a CR that doesn’t fully fund the border wall.  Why would Mitch McConnell do that? Because he want’s to that’s why.  UniParty !
Mitch McConnell, Chuck Schumer, Nancy Pelosi and Paul Ryan are working to put a take it or leave it bill in front of the President and force him to accept it.  Republicans currently control the House and Senate.  Why would McConnell and Ryan put President Trump into that position?  Because they want to, that’s why.
That’s who you should be mad at, not President Trump.
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CEA Charman Kevin Hassett is a happy MAGAnomic warrior as he continues to explain the disconnect between the strength of the U.S. economy -vs- the world; and how the disconnect impacts the multinationals (Stock Market).

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The interview is in two segments. Part II is below:
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CTH has pointed, repeatedly, toward a very specific economic and financial dynamic  because President Trump is uniquely focused on Main Street’s “real economy“.
Everything happening in/around the financial markets is very predictable when you focus on understanding the principles of Main Street MAGAnomics and how those basic principles diverge from Wall Street’s “paper economy”.
President Trump is clawing back American wealth; inch by inch… bit by bit.  This is the full monty.  This is economic nationalism. This is for all the marbles.
This is it.
Everything is happening in a very predictable sequence. Few understand the MAGAnomic reset, and what was predicted to happen in the space between disconnecting a Wall Street economic engine (globalism and multinationals) and restarting a Main Street economic engine (nationalism/America-First).  In 2015, 2016, 2017, 2018 CTH explained where we would be today. With current Wall Street events, perhaps it is worthwhile remembering the dynamic.
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If you’ve followed the MAGAnomic discussion threads you will likely appreciate this interview much more than the typical Fox Business viewer.
In this interview White House Council of Economic Advisers Chairman Kevin Hassett discusses the recent rise in retail sales and why he is optimistic about GDP growth.
Additionally, at the 03:00 point of the interview he is questioned about the disconnect between the exceptional growth in the U.S. economy -vs- the current status of the Wall Street stock market.  Hassett points directly to the ‘multinational‘ disconnect.

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Via Commerce Dept – “Advance estimates of U.S. retail and food services sales for November 2018 were $513.5 billion, an increase of 0.2 percent from the previous month, and 4.2 percent above November 2017. Total sales for the September 2018 through November 2018 period were up 4.3 percent from the same period a year ago.”
Two-thirds of U.S. GDP stems from U.S. consumer sales. Growth of more than 4% year-over-year is excellent and forms the basis for the increases in forecast GDP.
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I apologize in advance for my shortcomings in trying to de-wonk multinational economics and the financial constructs that impact, at the core, the U.S. worker and consumer.  It’s a big issue to tackle in digestible portions.  However, that said some inflationary statistics are presenting an opportunity for expanded discussion.
Reuters has an article out today highlighting inflationary data as released by the Bureau of Labor Statistics (BLS) [DATA HERE]. The overall summary is the Consumer Price Index is stable or flat reflecting low inflation on measured goods; however, that’s not the part that bears emphasis.   Instead I would direct attention to this:

The Fed’s preferred inflation measure, the core PCE price index excluding food and energy, increased 1.8 percent year-on-year in October, the smallest gain since February, after rising 1.9 percent the prior month. It hit the U.S. central bank’s 2 percent target in March for the first time since April 2012.

At the heart of the controlled monetary system; at the epicenter of the multinational global control mechanisms; inside the offices of the global economic elites; there is a system of financial manipulation with tentacles that reach into your pocket.  This system seems hard to understand, but it is critical to do so… so we need to try and understand it.
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Early this morning China transmitted and interesting tweet position that was/is a transparent display of their panda mask. In essence the panda play was a call for team USA to drop the zero-sum outlook and seek a win/win. Given the historic nature of Chinese negotiations the tweet was rather funny. However, it does highlight the dance.
Additionally, a few hours later President Trump tweeted about ongoing U.S-China trade discussions and something to watch for:
Moments ago we received the first indications of Chairman Xi’s panda play:

(Via Wall Street Journal) China agreed to reduce tariffs on U.S. autos to 15%, down from 40% currently, during a phone call with U.S. officials that opened the latest round of trade talks aimed at settling a trade dispute festering between the world’s two largest economic powers, according to a person familiar with the matter.

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The Bureau of Labor Statistics (BLS) has updated the data for the number of jobs that are available in the U.S. economy.  More than 7 million jobs are available for an estimated unemployed labor force (job seekers) of approximately 6 million.
Additionally, what is interesting to note is the sectors where the rate of available jobs is increasing the most. [See Table A – as below]  What you can clearly see is the rate of highest job openings is within the Main Street economy (blue and white collar).

To consider the state of the economy; and contrast the punditry opinion of the economic strength therein; it is important to look at what types of jobs are growing.
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CTH has never hidden our disgust for the corrupt lobbying enterprise known as the U.S. Chamber of Commerce, and their President Tom Donohue.  No internal organization in modern history has done more to harm American workers and American industry than the U.S. Chamber of Commerce.  Their fraudulent and corrupt enterprise is a toxic threat to our economy.
Today the U.S. Chamber of Commerce issues a statement denouncing the trade strategy of the Trump administration and announcing their lobbying support for the USMCA trade agreement is contingent upon the removal of Steel and Aluminum tariffs.

As the Washington Times writes: “The Chamber had previously complained that the deal’s language limiting protections for investors and stiffening of the “rules of origin” for when autos can be duty-free were problematic.”  Put another way: Wall Street is angry their multinational constructs are not supported, and protecting U.S. workers from the predatory nature of global outsourcing is bad for their controlled market schemes.
Ultimately, Donohue’s biggest complaint -revealed by historic review- is that his organization didn’t get to write the USMCA trade agreement and were stopped from selling their special interest carve-outs to their corporate clients.
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I hope y’all are hanging in there with me today because each of these Sunday posts is essentially an audio-video chapter in one singular book.  A stunningly deep book that explains the entire purpose of Trump from his/our perspective.
Here is an absolutely perfect, and in many ways jaw-dropping, interview with the head of the International Monetary Fund Christine Legarde.   It would be easy to write 10,000 background words on this singular interview alone. Decades of advanced globalist monetary/trade policy -vs- the recent uprising in economic nationalism.  THAT is the significant backstory at work here.
As her homeland France erupts in turmoil, elitist Legarde represents the personification of why those flames are present.  Freedom -v- Serfdom, with messaging from a control agent of the cloistered class.  However, here’s the stunner… pay real close attention at 04:34 of this interview where Legarde outlines the analysis (IMF economic model) where the IMF is forecasting U.S. GDP growth….  what number does she share?  WATCH:

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Did you hear that?
3.7% GDP growth for the U.S. is projected by the international financial community [global bankers].   This is the head financial liberal for the global elitist class admitting Trump has more than doubled the growth rate of the U.S. economy in two years.   Remember, simultaneous to this, when adjusted for inflation, the rest of the world is stagnant to shrinking in the same measure.
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