President Trump has expressed support for the continuation of the Import/Export bank. This has seemingly shocked a few people from conservative circles because the modern conservative doctrine has been to oppose the I/E bank.

However, Trump’s position hopefully does not come as a surprise to CTH readers because we identified a year ago how President Trump’s economic policies would seek to refocus the original intent of the Import Export Bank.

The key aspect is to return the IE to its “original intent“; not the bastardized Wall Street construct that exists today as a result of corrupt DC economic policies driven by the Wall Street’s legislative priorities purchased by multinational banks and corporations.

For more than three decades Wall Street has corrupted the economic policies emanating from DC.  The corrupted economic policy created the two economies previously discussed and the disconnected the engine of Main Street from Wall Street.  Yes, we originally shared this discussion in April of 2016, a year ago:

In 2009 the popular conservative opinion was to declare the Supreme Court’s Citizens United decision a win for “our side“. Of course, the decision ultimately opened the floodgates for unlimited corporate spending in elections via the new Super-PAC approach.

In 2016 90% of all American’s polled believe there is too much special interest money in politics, and both political parties no longer need the financial support of the electorate. Corporate lobbyists were always problematic, but now in a post CU world they control almost every aspect of electoral politics – including who wins elections. Citizens United wasn’t a win, its consequence was a major fail.

Within that reality you find one of the synergies between candidate Donald Trump and former candidate Bernie Sanders. The popular insurgencies supporting each candidate rail against the corrupting corporate financial influence. Party leadership? Meh, not-so-much.

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A background briefing transcript from yesterday might aid in larger understanding of White House policy and strategic objectives toward Syria, Russia, North Korea and China.

[Transcript] – SENIOR ADMINISTRATON OFFICIAL:  (In progress) — on the relationship between the leaders of the United States, our President and Premier Xi, and then applying that newly formed relationship to complex problem sets from the Middle East to Northeast Asia, and then a result in the United Nations, it helps advance our mutual interests and the interests of all civilized people.

So I think it’s difficult to portray this as anything but a really great week for our citizens and the United States.

♦  Q    Thanks so much.  Japanese media is reporting that the USS Carl Vinson is in operations with the Japanese naval forces.  As you know, they have a (inaudible.)  What happens if there is a confrontation this week between North Korean forces and Japanese and U.S. forces?  And how will you prevent this from spiraling into a broader military conflict?

SENIOR ADMINISTRATON OFFICIAL:  Well, as you heard from the President many times, we’re not in the business of trying to predict with a high degree of certainty precisely what our response is going to be.

I think what we demonstrated last week was the ability of the President’s national security team to come together, convened by the National Security Council, to look at events such as those that might occur on the Korean Peninsula, quickly analyze those events, place them in context with U.S. vital interests, establish objectives that protect American citizens and advance our interests, and then develop and present the President with options.

So we have a team that is, I think, particularly adept at doing that.  And if there were to be continued destabilizing and aggressive behavior by the North Korean regime, that’s how the national security team would respond. (more…)

Earlier today President Trump lead a discussion forum at the State Department library with cabinet members and corporate CEO’s to discuss ongoing economic policy and hear about the challenges.

One of the main challenges communicated by the business group was… wait for it.., yep, ObamaCare.  This concern is directly connected to any tax reform plans, and cuts to the heart of President Trump’s earlier economic strategy.

ObamaCare is, at the core, a massive tax program; and it becomes more difficult to navigate tax reform, with the anchor of ObamaCare dragging down opportunity for economic growth and the revenue growth that accompanies expansion.

[Transcript] 10:55 A.M. EDT – THE PRESIDENT:  Thank you all for being here.  Very much appreciate it.  I want to thank Steve Schwarzman for putting together this very incredible group of world-class business leaders.  That’s what you are.

Also, joining us are Secretary Betsy DeVos, Secretary Wilbur Ross, Secretary Elaine Chao, EPA Administrator Scott Pruitt, and my budget director, Mick Mulvaney.  That’s an easy job.  Where’s Mick?  (Laughter.)  Such an easy job.  It’s the easiest job of anybody in the government — right, Mick?

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During the February 2016 GOP primary debate candidate Trump told the world what he would do in response to continued North Korean missile aggression –SEE HERE–  In January of 2017 President Trump repeated the message –SEE HERE–

On April 6th and 7th, last week, President Trump and Chinese President Xi Jinping held a two day summit discussing trade and North Korea.   The United States and China are the two largest economies in the world.  Now see this:

A fleet of North Korean cargo ships is heading home to the port of Nampo, the majority of it fully laden, after China ordered its trading companies to return coal from the isolated country, shipping data shows.

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Today President Trump and President Xi JinPing of China conducted bi-lateral meetings to discuss ongoing concerns surrounding trade, finance, military engagement, and the need for China to assist in leverage over North Korea’s hostilities.

[Transcript] 11:22 A.M. EDT – PRESIDENT TRUMP:  I just want to say that President Xi and all of his representatives have been really interesting to be with.  I think we have made tremendous progress in our relationship with China.  My representatives have been meeting one-on-one with their counterparts from China.  And I think, truly, progress has been made.  We’ll be making a lot of additional progress.

The relationship developed by President Xi and myself I think is outstanding.  We look forward to being together many times in the future.  And I believe lots of very potentially bad problems will be going away.

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President Donald Trump and First Lady Melania Trump welcomed Chinese President Xi Jinping and his wife to a summit at Mar-a-lago, President Trump’s private Florida beach resort and residence.

President Xi and his wife were greeted by President Trump and first lady Melania Trump at the Mar-a-Lago estate before making their way to dinner.

Ahead of the dinner, Trump said he and Xi already had had a long discussion and had “developed a friendship,” and then joked, “I have gotten nothing, absolutely nothing.”

The White House said the location was selected to give the two days of discussions a more relaxed feel. A number of Trump’s top advisers were in attendance, including his daughter, Ivanka Trump, and son-in-law, Jared Kushner.  (AP report)

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According to ADP payroll processing U.S. private employers are estimated to have added 263,000 jobs in March.  This is likely more than the number employers hired in February and well above economists’ expectations.  This is the largest anticipated job growth in the past two years.

The earlier forecast by ADP National Employment Report estimated growth of 187,000 jobs, with median-range economic estimates spanning 110,000 to 225,000.  The current report is jointly developed with Moody’s Analytics.

The U.S. Labor Department’s more comprehensive non-farm payrolls report comes out on Friday and will include both public and private-sector employment.  Economists polled by Reuters were looking for U.S. private payroll employment to have grown by 175,000 jobs in March, less than the 227,000 in February – so the 263,000 estimate has caught them off guard.  The ADP results are much stronger (100,000 more) than anticipated.

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President Donald Trump was well inside his comfort zone today at the Hilton in Washington DC during a speech to the North America’s Building Trades Unions National Legislative Conference.  An epic speech, well worth watching.

For the first time ever a president who actually understand the building, trade and construction industry delivered a speech to the men and women who build America’s highways, roads, bridges, buildings and national infrastructure.   President Trump called out many of the trade union members by name.  Lots of fun:

…The era of economic surrender has come to an end.  It’s come to an end.  We have surrendered as a country to outside interests.  The era of economic victory for our country has just begun.  You will see.. Oh, you will see..

[Transcript] 12:25 P.M. EDT – THE PRESIDENT:  I know these people well, you wouldn’t believe it.  I know them too well.  (Applause.)  I know them too well.  They cost me a lot of money.  (Laughter.)  I spent a lot of money, but I love them, and they’re great, and their people are fantastic.  And nobody does it like you people, right?  Nobody.  We talked about that — incredible.  Incredible people.

So it’s great to be back with America’s builders.  (Applause.)  So did you ever think you’d see a President who knows how much concrete and rebar you can lay down in a single day?  Believe me, I know.  I know.  (Applause.)  We’re a nation of builders, and it was about time we had a builder in the White House, right?  (Applause.)  We have a builder.

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This morning President Trump and Vice-President Pence hosted a town hall on American Business.  The town hall consisted of CEOs and business leaders gathered to discuss infrastructure and the need to reduce regulations in order to help alleviate the restrictions that have plagued businesses.

[TRANSCRIPT] 10:41 A.M. EDT – THE VICE PRESIDENT:  It’s a great privilege to be able to welcome you to the White House.  Thank you so much.  I want to thank everyone involved in the Partnership for New York City — Michael Corbat, Stephen Schwarzman.

It’s an honor to have the leaders that are gathered in the room here with us today.  I know the President is on his way over, and it’s my great privilege this morning to share a few thoughts, in the midst of this important conversation on the topics that you’re covering before I introduce my friend and the 45th President of the United States.

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Oh man, THIS is epic. 

This is what happens when you take an intellectual gnat carrying nothing but ‘talking points’ (Tapper), and have them interview a Subject Matter Expert (Ross).

Secretary Wilburine hilariously flicks off the stuttering gnat with an immediate ‘Triple Farkas‘.

• Tapper: Muh “Chinese currency manipulation”?
• Wilburine: ‘I’m the Secretary of Commerce not Treasury’.

• Tapper: Muh “Well, Builder Trump used Chinese steel to build”?
• Wilburine: ‘Builders hire contractors, they purchase materials’.

• Tapper: Muh “But, but… Trump signed XO in different room”?
• Wilburine: ‘Where President Trump signs orders is not of particular concern’.

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Important note: Notice how not a single question of Commerce Secretary Wilbur Ross was related in any way to commerce or trade.

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