White House Economic Council Chairman Larry Kudlow discusses the August jobs report and the latest on China trade negotiations. Main Street USA is thriving, and the U.S. economy is very strong.
The Bureau of Labor Statistics released the August Jobs Report showing 130,000 jobs added during the month. Year-over-year wage growth remains 3.2%, with a very strong three month wage growth showing gains of 4.2%.
Overall the top line growth of 130k jobs sounds modest; but jumpin’ ju-ju bones, the data underneath the top line is extremely strong and highlights exactly why wage rates have been rapidly increasing over the past three months. [Table A – BLS Report]
With a tight labor market we are seeing the natural upward pressure on wages. In the past four months wage rates have increased 4.2% [Table B-3], and from the employment data it appears those large wage incentives are bringing people back into the workforce.
Year-over-year the number of employed Americans has grown by 2,274,000 people.
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This is another one of the rare interviews where an American CEO calls out the specifics of how Wall Street greed created the China problem that pummeled Main Street.
Cambria CEO Marty Davis discusses the root of the trade issues with China and President Trump’s efforts to address the problem. He accurately calls attention to the origin of the issue; and then brilliantly explains the current consequences of decisions made by an alignment of Wall Street interests and powerful U.S. politicians.
CTH readers will notice a significant amount of similarity in the words and phrases Mr. Davis uses to describe the issues. This guy gets it.
This is well worth nine minutes of your time. Mr. Davis really gets it, and is not afraid to call the baby ugly. His criticisms are so spot-on accurate they made Maria Bartiromo uncomfortable in broadcast. These things are usually not said. Must Watch:
Boy howdy if ever there was an article that showed the layers and ramifications of President Trump’s global trade reset, this is a good one. The multinational media do not want American voters to understand the dynamic, because if we did people would catch-on to how the global economy was structured upon removal of U.S. wealth…
Reuters is reporting on a significant drop in German industrial orders, and they specifically point to diminished orders from the U.K (small part) and China (big part) as the cause. However, the analysis stops at the part where China’s lack of industrial orders is the leading contribution to retraction in the German export sector.
What the financial analysis does not approach (ie. the third rail of multinational corporate admission that must never be outlined), is the reason why Chinese orders for German industrial goods have dropped.
The problem for China, and ultimately for Germany, is that Trump’s trade reset has stopped a big amount of U.S. wealth from arriving in Beijing. Simultaneously, Beijing is countering Trump’s tariffs by devaluing their currency. The rebound economic impact is doubled. China has: (1) less income; and (2) less value within their own currency.
Where does this dynamic show up?…. Anytime China is going to buy something.
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CTH readers are well versed in the dynamics of the Panda mask -vs- Dragon motives of China. Therefore we are able to discuss events without the MSM financial filter; which is narrated specifically to the benefit of multinational interests. Always keep that in mind.
Everything needed to understand the latest panda narrative from Beijing is identified in this simple paragraph:
(Beijing) […] The talks were supposed to have resumed this month but China’s commerce ministry said Vice Premier Liu He, Beijing’s pointman on trade, agreed to October in a phone call with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday. (more)
First, anything from Vice Premier Liu He is panda-speak; he is a tool in the process of Chinese narrative engineering. All former trade negotiation authority held by Liu He was stripped by Chairman Xi Jinping. Commerce Minister Zhong Shan is the real voice of Xi and the Beijing authority.
Second, what exactly is Beijing selling? An “October phone call”…. and that manipulates markets for the multinationals on Wall Street. A friggin’ announcement of a phone call?
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ADP Payroll analysis for August reflects continued strong gains in the jobs market beating all expectations from the financial pundits. The official government stats will be released tomorrow (private and public sector); in the interim the ADP payroll of private sector job creation shows that Main Street continues to be very strong.
(Reuters) U.S. private employers added 195,000 jobs in August, above economists’ expectations, a report by a payrolls processor showed on Wednesday.
Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 149,000 jobs, with estimates ranging from 110,000 to 175,000.
Looking over how much corrupt Hillary Clinton dirt the intelligence community hid in the 2016 election, the big picture aspects deserve an expanded discussion.
In the larger picture it is clear the Obama administration weaponized the institutions of government to target his/their political opposition. It is also increasingly clear a Hillary Clinton administration would have monetized the U.S. government.
President Obama’s team used the DOJ, CIA, FBI and IRS to target their opposition. The intelligence apparatus was weaponized; one small example that scratches the surface is the FBI/NSA database exploitation. Black files on DC politicians, private sector groups and individuals facilitating leverage, and we are still seeing the ramifications.
When Patrick Byrne recently discussed his role within the “political espionage” operations, he is describing this exact process; not coincidentally he also seems to have retreated into a safe-space.
Big multinational interests, Big Pharma, Big Ag, Big Global Banking interests, etc, were exclusively supporting both President Obama and candidate Clinton. The domestic politics of the U.S. were/are tools toward an end; and, so long as the person occupying the oval office did not interfere with Big Club objectives, they too would benefit financially.
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After benefiting from ridiculous preferential treatment by the World Trade Organization under “emerging nation” status for the past two decades, Beijing now turns to the WTO and files a complaint against the U.S. over recent tariffs and countervailing duties.
The substance to Beijing’s complaint is silly. China claims there was a “leadership agreement” during the Osaka G20 summit not to apply additional tariffs. However, the latest round of U.S. tariffs on China were in response to Chinese tariffs applied after Osaka. Bottom line, Beijing is playing political games.
China, once again playing the wounded panda routine, is trying to set up a narrative that President Trump has broken his word. That’s the cornerstone of their position, and they know such a complaint won’t go anywhere at the WTO; the complaint is really for the use, exploitation, and consumption by President Trump’s political opposition, domestic and international. (emphasis mine)
HONG KONG/GENEVA (Reuters) – China has lodged a complaint against the United States at the World Trade Organization over U.S. import duties, the Chinese Commerce Ministry said on Monday.
President Donald J Trump has issued the following proclamation in celebration of Labor Day 2019 and the vitality of the American worker:
[White House] On Labor Day, we recognize the remarkable American workers who comprise the greatest labor force in the world. American workers are the heart and soul of our Nation’s economic resurgence. Since my first day in office, I have followed through on my promise to fight for an agenda that puts American workers first.
My Administration’s pro-growth policies have enabled countless Americans to reclaim the dignity of work and reap the rewards of our thriving economy. Since my election, the American economy has added more than 6 million new jobs, and for the past 17 months, the unemployment rate has held near record lows. In 2017, as the unemployment rate decreased, the rates of injuries and illnesses in the workplace also declined. Additionally, employers are paying higher wages, which are rising at the fastest pace in a decade. Jobs are consistently becoming available faster than people can fill them.
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There are two sets of documents that outline a very specific picture. Robert Mueller’s lead FBI Agent David Archey made sworn declarations to the court, without knowledge of FBI “whistleblower” information provided to DOJ Inspector General, Michael Horowitz.
There is a distinct conflict within the IG report on James Comey (and memos) [Available Here] and the David Archey declarations [Available Here]. However, beyond the conflict there’s an even more alarming picture of how Robert Mueller was deployed, when all the information is overlaid in a timeline. A very clear picture emerges; very clear.
In June 2017 CNN (and other media) filed a FOIA suit to gain the Comey memos. As the lawsuit progressed through a lengthy battle -where the Mueller team did not want to turn over those memos- Mueller’s lead FBI agent, David Archey, made sworn declarations to the court. Those statements became known as the “Archey Declarations”. Inside those declarations agent Archey provided a specific outline of the FBI and the memos.
Note the date – Agent Archey states the “investigative team” came into full possession of the Comey memos: “on or by May 12th, 2017,”…
[Page #3 of Exhibit A – Archey Declarations]
The “investigative team” would be Andrew McCabe, Bill Priestap, Peter Strzok, Lisa Page, and then James Baker as lead counsel for the group. The “Director’s staff” would be James Rybicki, who is identified by Archey as having “maintained” possession of the memos.
So this “small group”, particularly James Rybicki, is the center of the team. This team is also confirmed by the IG Horowitz report. This team had the memos on May 12th, 2017.
Now we move into the aspect where the motives and ideology become clear when we look at the IG custodial record of the memos, as outlined by the Supervisory Special Agent in charge of Comey’s documents within the IG report, compared to the Archey declarations.
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