Prior to the 2016 election (Oct ’16) consumer confidence measured by the University of Michigan was indexed at 87.2  Today that same confidence rating is 101.1  A stunning 15.9% increase.  Similarly, consumer expectations were indexing 76.8 in October 2016 and now stand at 91.3, an increase of 18.9%.

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Consumer confidence is at the highest level since 2004 and Americans have the brightest outlook for their economic future in decades.  The MAGAnomic data is clear. Yet even those who assemble the data interpret MAGAnomics with some false assumptions.

Nonetheless, consumers anticipate low unemployment, low inflation, small increases in interest rates, and most importantly, modest income gains in the year ahead. [True]
It is this acceptance of lackluster growth rates in personal income and in the overall economy that signifies that consumers have accepted, however reluctantly, limits on the pace of improving prospects for living standards.  [False interpretation]

With lowered costs associated with highly-consumable, albeit non Fed measured products (fuel, food, energy), average living standards actually increase.  It is a false interpretation of data to say consumer confidence/expectations are at the highest levels in fifteen years, and simultaneously say people have resigned themselves to stagnant living standards.
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This is a great interview from the perspective of seeing first hand how the disconnect between historic economic theory (Kudlow) runs into the reality of a person (Ross) who completely understands how Trade and Finance are enmeshed in a completely new economic paradigm. [The Myth of Modern Free Markets]
If you have read “The New Economic Dimension” you’ll note that Kudlow represents the economist sitting in the Atlantic, only able to see the Wall Street economy; while Wilbur Ross has a satellite perspective on both the Main Street and Wall Street economic engines.
Kudlow’s financial perspective runs into Ross’s reality about two-thirds of the way through the interview when Secretary Ross asks the question: “I bet you can’t give me an example of an economically sound investment that hasn’t found capital”.  It’s just a splendid thing to watch.

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Despite his financial-centric economic focus Kudlow is a good MAGA ally.  However, Wilbur Ross understands every single pixel of the larger economic picture, and how trade interacts with the larger U.S. economy within the Main Street -vs- Wall Street dynamic.
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CTH has noted on several occasions that many of Puerto Rico’s 78 municipal authorities control their regions in a similar fashion to mafioso families.  There is a tremendous amount of corruption within the ranks of “Mayors” on the island.  The entire system of governance is more accurately similar to third-world overlords.
This report on FEMA aid being corrupted by these same officials does not come as a surprise; indeed, unfortunately, it is the norm – not the exception.

(Puerto Rico) FBI agents in Puerto Rico have been receiving calls from “across the island” with residents complaining local officials are “withholding” or “mishandling” critical FEMA supplies — with one island official even accused of stuffing his own car full of goods meant for the suffering populace.
The accusations come in the aftermath of deadly Hurricane Maria, which devastated the U.S. territory last month.
“The complaints we’re hearing is that mayors of local municipalities, or people associated with their offices, are giving their political supporters special treatment, goods they’re not giving to other people who need them,” FBI Special Agent Carlos Osorio told Fox News.
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President Donald Trump and First Lady Melania Trump welcome Prime Minister Justin Trudeau and Sophie Gregoire Trudeau back to the White House.
By all media accounts, especially those from Canada, the primary purpose of Trudeau’s visit is to firm up support for NAFTA.  Prior to the bilateral meeting between the two leaders, Trudeau was lobbying the congressional GOPe Ways and Means Committee to rebuke the America-First economic policies of President Trump.

[Transcript Here]

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Isn’t it interesting how heads of foreign governments feel so comfortable coming to the U.S., engaging with Washington DC politicians and openly attempting to eliminate the national economic policy interests of a sitting U.S. President (and American workers)?
No, really… think about that.  If you ever needed to remind your family, friends and neighbors of how thoroughly our national economic sovereignty has been destroyed, simply put the reality of foreign leaders lobbying Washington DC to retain their global interests into the context of any conversation…. then ask them to think about it.
Name another country that would even fathom allowing such activity.
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President Trump’s MAGAnomic Main Street policy initiatives surround a very basic set of principles.  To add wealth to the middle class you: A.) increase wages, and B.) lower the cost of living.
Increasing wages is the long-term economic outcome from America-First business and corporate manufacturing policies (Secretary Wilbur Ross), in combination with fiscal policies (Secretary Mnuchin).   Subsequently, within his economic agenda, President Trump visibly engages an extraordinary amount of effort on both Commerce and Treasury.
However, there’s a part of the plan for reestablishing middle-class wealth that also comes from lowering the cost of living (high consumables).  That’s where EPA Administrator Scott Pruitt intersects with Ross and Mnuchin as Pruitt works to lower energy costs.

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Lowering energy costs has an exponential benefit to the overall economy.  Not only does it drive down the cost of domestic highly consumable products, but it also binds the building blocks of the manufacturing and production sector.  Lower energy costs offset higher wages on products manufactured for export and helps keep the U.S. competitive.
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Here we go… buckle up, and grab the popcorn.  This is the part where the “trillions at stake” comes into play…

U.S. Chamber of Commerce President Tom Donohue is now engaged in a direct fight with U.S. President Donald Trump. As would be expected, and as we specifically predicted, Tom Donohue is now specifically aligning himself with Canada and Mexico against the interests of the United States economy.

Tom Donohue gives hundreds of millions to Mitch McConnell and the crony UniParty capitalist ilk that infect Washington DC. Donohue owns the vast majority of U.S. politicians. This battle is the epicenter of lobbying usurpation, and how multinational corporations own U.S. politicians. This battle will be epic.

MEXICO CITY/WASHINGTON (Reuters) – The most powerful U.S. business lobby accused the Trump administration on Tuesday of making “poison pill proposals” to sabotage talks aimed at modernizing NAFTA, as negotiators began gathering in Washington for fresh trade talks.
[…] Speaking in Mexico City, Thomas Donohue, the U.S. Chamber of Commerce’s president and chief executive, listed several U.S. proposals that he said would undermine $1 trillion in annual trilateral trade, including a “sunset clause” to force regular negotiations.

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Ahead of a working lunch with Secretary of State Rex Tillerson and Defense Secretary James Mattis, President Trump holds a consultation meeting with former Secretary of State Henry Kissinger. Mr. Kissinger has been an arms-length foreign policy adviser since the campaign.
Undoubtedly the requested Kissinger insight would be regarding China, and more specifically regarding Beijing, and the old communist guard’s outlook toward the ongoing communist congress currently taking place in the deepest bamboo forest.
President Trump took the media opportunity to discuss a myriad of ongoing issues including the collapsing ObamaCare issues and the ongoing tax proposals.

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The meeting with Kissinger follows a familiar pattern for those who have watched the nuance of President Trump and how he advances his own ideological philosophy by listening to historic advocates with insight into what Trump considers “prior failed policy”.
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Office of Management and Budget Director Mick Mulvaney appears on Sunday Morning Futures with Maria Bartiromo to discuss the ongoing tax reform proposal and the status within congress:

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During a White House event earlier today President Donald Trump signed a Presidential proclamation designating October 6th as “National Manufacturing Day”.
One of President Trump’s top economic priorities, enmeshed in the America-First economic agenda, is to bring back U.S. manufacturing excellence as a priority to the foundation of a balanced American economy.

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REMARKS BY PRESIDENT TRUMP – AT SIGNING OF NATIONAL MANUFACTURING DAY PROCLAMATION – Oval Office – 2:05 P.M. EDT
THE PRESIDENT: Thank you very much. It’s an honor to be here with the great men and women of American manufacturing. In a few moments, I will sign a presidential proclamation declaring today National Manufacturing Day.
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CTH has called out the anti-American economic positions of the U.S. Chamber of Commerce for many years.  The U.S. CoC is the largest DC lobbying group for multinational corporations and multinational financial interests.  The CoC is at the very epicenter of the financial constructs that support the Washington DC UniParty.
When President Trump won the election in 2016 it was a thundershock to decades of work by the U.S. CoC to undermine economic nationalism in favor of global corporate interests. Within all of the economic, trade and policy discussion which subsequently flowed from the White House the CoC did not have a seat at the table.  Trump’s economic policy is adverse to the interests of The Big Club.
Today the CoC is taking a direct and adversarial position to oppose the White House and the intended framework (Trump, Ross, Lighthizer) for a renegotiated NAFTA deal.  The U.S. CoC is aligning with Canada and Mexico against the interests of the United States.
While predicted, it is a little surreal to see the U.S. CoC drop their mask so openly:

WASHINGTON DC – The Chamber of Commerce warned Friday that the Trump administration appears to be on the path to pulling out of the North American Free Trade Agreement, on the eve of the fourth round of talks to renegotiate that deal.

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