National Economic Council Director Larry Kudlow discusses the outlook for U.S. economic growth, the jobs market, training and vocational initiatives and the expansion of benefits and wages for blue-collar workers.
Interior Secretary Ryan Zinke discusses one of the epicenter issues surrounding U.S. economic growth and the importance of energy independence. Secretary Zinke discusses the objective within reaching a production output of 14 million barrels per day of U.S. Oil and natural gas by 2020.
Energy independence is one of the specific examples of creating another economic pie, as opposed to trying to carve up and distribute existing ones. Energy is one of our biggest and underappreciated assets. Think about how GDP growth expands when the economy adds an entire export sector that was previously non-existent.
Secretary of the Interior Ryan Zinke is joined by Southern Ute Indian Tribe Councilman Adam Red to discuss boosting U.S. oil production, drilling on the Ute Indian Tribe’s land, deregulation and reforming regulations such as the Endangered Species Act.
Earlier today President Donald Trump welcomed a group of American workers into the Oval Office for a discussion of removing “red tape” and barriers to economic expansion.
The Bureau of Labor Statistics has released some remarkable economic data today. There are more than seven million current job openings [See Here] and the year-over-year average wage gains are 3.3% [See Here]
Tonight President Donald Trump his heading to Council Bluffs, Iowa, where he will hold another MAGA rally in advance of the 2018 mid-terms. President Trump is anticipated to make an announcement about a review for enhanced ethanol use.
President Trump is scheduled to appear at 7:30pm ET, with pre-rally events ongoing:
UPDATE: Video Added
Hold on to your MAGA caps there’s a winner wonderland ahead. According to the latest ADP private payroll release today, private sector payrolls grew by a stunning 230,000 jobs in September. [They were anticipating 185k] Massive jobs gains amid small, medium and large sized companies (report here).
This comes on the heels of the latest stats on paychecks which show *average* wage gains around 2.6% over last year. Key word “average“. There are multiple job sectors with wage increases of four to seven percent; well above the rate of consumer price inflation.
(Via CNBC) Job growth surged in September to its highest level in seven months as the economy put up another show of strength, according to a report Wednesday from ADP and Moody’s Analytics.
Private companies added 230,000 more positions for the month, the best level since the 241,000 jobs added in February and well ahead of the 168,000 jobs added in August.
Every quarter, CNBC surveys its Global CFO Council to gain insight into the status of the current global economy. The CFO council is comprised of Chief Financial Officers of the world’s largest 113 companies that combined are worth nearly $5 trillion. Interestingly the council is comprised almost exclusively of multinational corporations who are generally opposed to President Trump’s MAGAnomic trade reset.
However, in the third quarter survey the CFO’s note that only one economy in the world is currently improving, the United States.
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There has been a great deal of background activity in the past 72 hours surrounding the U.S. and Canada trade negotiations. However, some of that activity has become more brutally obvious; a deal is not likely to happen.
Against growing visibility the Canadian team of Justin Trudeau and Chrystia Freeland were intent on using opposition to Trump for maximum domestic gain, President Trump declined a bilateral meeting with Justin from Canada at the U.N. General Assembly; and today U.S. Trade Representative Robert Lighthizer told a group an agreement was unlikely.
Additionally, in a video taken today during the U.N. luncheon it is clear President Trump has no time for the political schemes of Justin Trudeau. The moment happens at 02:45 of the video below:
Foreign Minister Chrystia from Canada is in Washington DC today meeting with U.S. Trade Representative Robert Lighthizer. There are conflicting reports as to the possibility of a trade deal being reached. Canada is heavily relying on internal pressure from the U.S. Chamber of Commerce lobbying group to sway/leverage the negotiation in their favor.
From the Canadian negotiation position every syllable and syntax is viewed through the prism of politics. From comments amid all the Canadian participants and interests, they view President Trump as the only adversarial U.S. entity in the bilateral discussion. As a consequence of this outlook, all Canadian leverage efforts are targeted toward political opposition of President Trump; with assistance from a U.S. congress that has been purchased by Wall Street lobbyists to align with Canada against U.S. interests.
Peel all the layers away and ultimately this is the political position from which Canada is negotiating. All-in-All, the most likely outcome is NO DEAL.
In order for Canada to accept or join, via a NAFTA 2202 modification, they would need to agree to the U.S-Mexico modification terms. For Canada they would have to:
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Earlier today President Trump hosted a meeting with the key administration officials executing the workforce initiatives programs. The programs include expanded vocational training, private-public partnerships for education, and expanded investment in skills training for a modern American workforce.
The National Council for the American Worker is the executive agency tasked with execution of the policies and working with various state and local officials to help increase the skills training for U.S. workers. With a MAGAnomic expanding economy; and with all of the subsequent jobs growth; and with a revitalization of U.S. manufacturing; the workforce initiatives are keys to sustaining successful growth for American workers.
