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 delivers remarks to the traveling press pool from Joint Base Andrews. [Video and Transcript Below]

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[Transcript] – THE PRESIDENT: So, we had a great weekend for our country. We captured a man that should’ve been caught a long time ago. Unfortunately, he wasn’t. He’s done tremendous damage. But it was an amazing display of intelligence and military power and coordination, and getting along with people. Lots of great things happened. So that was a big, big day and a big weekend, and we’re very happy about it.
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Earlier today representatives John Ratcliffe and Doug Collins react to the successful operation to capture/kill Baghdadi along with recent events surrounding the John Durham investigation shifting into a criminal probe.
First, John Ratcliffe discusses the killing of Baghdadi and the possibility of criminal indictments as the Durham investigation focuses on the origin of the Russia investigation.
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Additionally, Doug Collins discusses current events:
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Generally speaking I wouldn’t recommend watching a Chuck Todd interview especially when he’s grieving the loss of one of his own; however, this interview with National Security Advisor Robert O’Brien provides some insight into why he was selected by President Trump for the very important position.
As to Todd’s disposition… do you remember those press briefings from Saudi Arabia during Operation Dessert Storm in 1991?  The briefings where the media would shout: “where exactly are our troops located, and when will they be moving”?  Or “can you tell us exactly how many troops are positioned near the Kuwait border, how many marines will be coming ashore; and exactly what time they will be arriving?” ….
If you remember watching that stuff; and if you remember General Schwarzkopf’s belittling responses therein; this interview with Chuck Todd will have a ring of familiarity:

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What a knucklehead…
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President Trump visited South Carolina yesterday, receiving an award and delivering the keynote speech at Benedict College, a Historically Black College and University (HBCU). [Video and Transcript Below]

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[Transcript] – THE PRESIDENT: Two great gentlemen. Thank you very much. And thank you all. Please, sit down.
AUDIENCE MEMBER: We love you, President! (Applause.)
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This would appear to be one of the few positive indicators that AG Bill Barr and U.S. Attorney John Durham are indeed doing more than bondo.  The New York Times is reporting the Durham “review” has now officially moved into a full “criminal investigation”.  [All emphasis mine]

WASHINGTON — For more than two years, President Trump has repeatedly attacked the Russia investigation, portraying it as a hoax and illegal even months after the special counsel closed it. Now, Mr. Trump’s own Justice Department has opened a criminal investigation into how it all began.

Justice Department officials have shifted an administrative review of the Russia investigation closely overseen by Attorney General William P. Barr to a criminal inquiry, according to two people familiar with the matter. The move gives the prosecutor running it, John H. Durham, the power to subpoena for witness testimony and documents, to impanel a grand jury and to file criminal charges.

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House Intelligence Committee Chairman Adam Schiff is now calling current and former White House National Security Council (NSC) staff to appear before his committee to provide evidence for impeachment.  The purpose of the requests is to gather testimony from all those who disagree with President Trump’s foreign policy.
The arc of the current impeachment plan is to remove President Trump from office because he is not permitting the Bush, Clinton-Clinton, Bush-Bush, Obama-Obama foreign policy to continue.   All career bureaucrats who have advised and constructed U.S. foreign policy for maximum influence & financial gain are now fuel for impeachment.

White House Trade and Manufacturing Advisor Peter Navarro appears on Fox Business to discuss the purpose and intent of the USMCA and the ongoing China trade discussions.
What Navarro skims upon is the heart of the economic purpose behind the USMCA as requested by President Trump and constructed by USTR Lighthizer. The USMCA establishes an internal North American manufacturing system; this provides the alternative for Asian manufacturing of goods for the U.S. market.
This manufacturing system is why Mexico is “all-in” to support the USMCA. Additionally, the economic benefits within the system as constructed is exactly why Mexican President Lopez-Obrador is willing to pressure House democrats to ratify and also back-up President Trump on other geopolitical issues (immigration controls etc).

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On the Stock Market dynamic. Currently there is a great deal of investment capital waiting to see where the money should be placed. Investment in China has dropped dramatically; investment in Southeast Asia shifted, but new investment is pending this outcome. Multinationals are calculating the TCP (Total Cost of Production), and if the new USMCA is passed there will be a triggering effect of North American investment because the uncertainty will be eliminated.
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Earlier today President Trump delivered remarks about the ongoing issues with Turkey and Northern Syria from the White House.  [Video and Transcript]

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[Transcript] – THE PRESIDENT: Well, thank you very much. My fellow Americans, I greet you this morning from the White House to announce a major breakthrough toward achieving a better future for Syria and for the Middle East. It’s been a long time.
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Representative Elise Stefanik (R-New York) gives a good general perspective from a centrist, non ideological, politician.  As a member of the House Permanent Select Committee on Intelligence (HPSCI) Stefanik is at the center of the impeachment efforts undertaken by HPSCI Chairman Adam Schiff.
Ms. Stefanik has had enough of the schemes and games and is publicly calling out Chairman Schiff for his manipulation of the impeachment process.  This type of push-back is good, because Pelosi and Schiff’s crew are comfortable with the customary GOP push-back from McCarthy, Jordan, Meadows, Gaetz, Collins, Nunes etc. However, the Lawfare crowd is not prepared to deal with the optics of a more dangerous Stefanik.

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