National Economic Council Chairman Larry Kudlow appeared on Fox News to discuss the latest GDP figures from the Bureau of Economic Analysis (BEA).
Keep in mind when contemplating ‘sustainable growth’, all of the current underlying economic activity is during the phase of transition between Wall Street policy (last 30 years) and Main Street policy (Trump).  We are in the space between the two economic approaches; two engines – SEE HERE.

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How will we know when the two economic engines have crossed paths?  There is an easy answer:  Under MAGAnomic Main Street policies inflation is disconnected from FED monetary policy.  In the real economy inflation is connected to wage rates.  When inflation and wage rates reach growth equity (over two quarters), that’s when the Main Street economic engine will have caught and passed Wall Street. We’re close.  Watch.
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MAGAnomics

The Bureau of Economic Analysis (BEA) has released the second quarter estimate in GDP growth at 4.1%, the highest rate of growth since 2014.  Here’s the non-spin review along with an embed copy of the actual report [full pdf below] to include all tables:

Gross domestic product (GDP) is the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment; the net result of exports of goods and services, and government consumption expenditures and gross investment.

Along with the first estimate of Q2 GDP Growth at 4.1% (exceptionally strong), the BEA increased the Q1 growth rate to 2.2% (previously 2%).
Growth in U.S. exported goods was massive at 13.3% [Table 1, line 17] That is HUGE.
Growth in U.S. imported goods was very small at 1.0% [Table 1, Line 20] That is great.
The combination of massive increases in exports, and minimal growth in imports, led to a net increase in overall GDP from exports of 1.06%. [Table 2, line 45] Let that sink in.
WE DID NOT DEDUCT from GDP growth due to the net result of imports/exports. We actually exported more goods than we imported.
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This afternoon President Trump will deliver remarks on tariffs, trade and jobs in Granite City, Illinois following his tour of the Granite City Works steel plant.  The anticipated start time was 3:40pm; however, POTUS is running approximately 30 mins behind schedule.
UPDATE: Video Added

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Originally outlined a year ago. Reposted by request, because we are watching it play out in real time: Believe me, at the heart of the professional/political opposition the issue is the money; there are trillions at stake.

President Trump’s MAGAnomic trade and foreign policy agenda is jaw-dropping in scale, scope and consequence. There are multiple simultaneous aspects to each policy objective; they have been outlined for a long time even before the election victory in November ’16.
If you get too far into the weeds the larger picture can be lost. CTH objective is to continue pointing focus toward the larger horizon, and then at specific inflection points to dive into the topic and explain how each moment is connected to the larger strategy.

Today we repost an earlier dive into how MAGAnomic policy interacts with multinational Wall Street, the stock market, the U.S. financial system and perhaps your personal financial value. Again, reference and source material is included at the end of the outline.
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Earlier today key congressional leadership met with top DOJ officials to reconcile the lack of compliance from the DOJ in document production for oversight.  Judiciary Chairman Bob Goodlatte, Oversight Chairman Trey Gowdy, Representative Mark Meadows and Representative Jim Jordan met with Deputy Attorney General Rod Rosenstein and DOJ staff including U.S. Attorney John Lausch.
In the past several weeks Deputy Attorney General Rosenstein has been blocking production of records; refusing to answer questions about his participation in the fraudulent FISA renewal, and protecting the interests of Special Counsel Robert Mueller from inquiry.  Articles of Impeachment:

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What happens when you add winning to MAGAnomics, and sprinkle a little media trolling?

You enter the rarefied space of “Winfinity”…

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The White House has announced an unanticipated joint press statement/availability between President Trump and EU President Jean Claude Juncker to be held at approximately 4:00pm EST in the Rose Garden.
Apparently the EU has agreed to President Trump’s terms on lowering industrial tariffs to enhance U.S. trade opportunities; lower non-tariff barriers to increase agricultural trade, and committed to increased import of LNG (liquid natural gas) to offset Russian energy dependence.  THIS is a developing story….
UPDATE: Video Added

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EU President Jean Claude Juncker arrives sober at the White House to discuss the ongoing negotiations between the EU position(s) on multiple issues and U.S. interests and concerns as outlined by President Trump.
There are a few primary issues: An ongoing trade reset, and the pending U.S. sanctions against Iran.  Both issues hold significant financial and economic ramifications for the European Union.  Additionally, the construct of Brexit (the U.K. exit from the EU) will determine how the structure of any bilateral trade deal will be made with Britain.  All three issues are enmeshed as President Trump leverages U.S. economic power and access to the U.S. market.

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Agriculture Secretary Sonny Perdue appears on Mornings With Maria to discuss the $12 billion bridge-aid for farmers during the ongoing trade negotiations; and concerns over the impact of tariffs.  [Expanded Backstory Here]

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Not surprisingly Secretary Perdue notes the U.S. and Mexico are close to a deal within the agriculture sector. Mexican President-elect Lopez Obrador (AMLO) campaigned heavily on correcting the same BIG-AG multinational trade issues that President Trump is confronting.
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Former DOJ lawyer, and special counsel assigned to former FBI Deputy Director Andrew McCabe, Lisa Page, testified before congress on her knowledge of the issues and details surrounding the Trump investigation known as “spygate”.  As a result of that testimony, House Oversight and Judiciary Committee members are now seeking additional documents from the DOJ.
It is likely the documents relate to the State Department’s involvement in the overall counterintelligence investigation;, as well as McCabe’s role in coordinating the activity by FBI agent Peter Strzok.

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It is worth noting that Andrew McCabe originally contradicted Lisa Page about the media leaks he was coordinating. It was Lisa Page presenting evidence to support her version of events that led to the Page/Strzok text messages being delivered to IG and INSD investigators.
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