Earlier today President Trump welcomed Ireland’s Prime Minister Leo Varadkar to the White House and held a mini press conference in the Oval Office.

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The Bureau of Labor Statistics (BLS) released some important data today surrounding the state of the U.S. economy. The first release shows the current CPI (consumer price index) or rate of inflation:

(BLS Release) […] The all items index increased 1.5 percent for the 12 months ending February, a smaller increase than the 1.6-percent rise for the 12-months ending January. The index for all items less food and energy rose 2.1 percent over the last 12 months, a slightly smaller figure than the 2.2-percent increase for the period ending January. The food index rose 2.0 percent over the past year, its largest 12-month increase since the period ending April 2015. In contrast, the energy index declined 5.0 percent over the last 12 months. (read more)

As noted above, energy prices are 5.0% lower year-over-year; this is a significant reason for the current low inflationary rate.  Also energy prices (fuel, gas, oil) disproportionately impact the middle-class as an unavoidable cost.  Lower gas prices (currently down 9.1%) help middle-America, and also have a downstream impact of lowering product transportation costs.
An overall annual rate of inflation at 1.5 percent is exactly on target.  CTH has been predicting this energy-based outcome for more than three years:
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National Security Adviser John Bolton appears with Maria Bartiromo to discuss recent reports that Kim Jong-un is moving toward more nuclear testing.
Obviously that discussion moves quickly into the influence of China and Chairman Xi Jinping.
The frustrating question no-one ever seems to ask is not “if” China controls the DPRK government, but rather “to what extent”?
It has become more obvious in the past few years that North Korea’s Chairman Kim Jong-un has much less control over officials and military leadership within his own government than previously thought.
Does Chairman Xi and Beijing structurally control everything around Kim? Is Kim a hostage; forced to ride a dragon he doesn’t control?  I think the answer is yes.

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Once people start to realize that China controls North Korea as a proxy province, then the discussion can evolve toward the true nature of the challenge, and the way President Trump is precariously negotiating a hostage release while refusing to pay the ransom.
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National Economic Council Chairman Larry Kudlow appears on Fox News Sunday to discuss economic policy, budgets and taxes. Since the discussion is the economy, Wallace quickly puts on his doomsday hat.

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National Economic Council Director Larry Kudlow discusses the February jobs report, wage gains, stimulus from the European Central Bank, and President Trump’s ongoing trade confrontation with China.  [Solid Interview]
Chairman Kudlow notes some interesting dynamics at play including the recent National Household employment survey which showed 225k additional workers resulting in a drop in the overall unemployment statistics to 3.8%

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Additionally, the globalist-minded Wall Street crowd are disappointed that a March summit between Chairman Xi and President Trump has been scuttled. In aggregate terms, this cancellation backdrops USTR Robert Lighthizer’s strong granular demands of the Chinese delegation toward contractual enforcement terms. It is most likely Chairman Xi is not happy with the feedback he is receiving from his team. Too bad.
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President Donald Trump and First Lady Melania Trump welcome Czech Prime Minister Andrej Babis and Madame Monika Babisova to the White House in advance of a bilateral meeting between the two leaders. [Video and Transcript]

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[Transcript] Oval Office – 1:55 P.M. EST – PRESIDENT TRUMP: Well, thank you very much. It’s a great honor to have the Prime Minister of the Czech Republic. Prime Minister Babiš and Mrs. Babiš, thank you very much for being here. It’s a great honor. Great country.
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White House trade adviser Peter Navarro has been a core member of the U.S. trade team providing a brutally honest perspective toward how specific trade engagements can directly benefit the U.S. economy and U.S. worker.
Navarro has gained a reputation as a trade hawk, specifically as it relates to confronting the one-sided trade schemes of China.  However, that encapsulation doesn’t accurately reflect Mr. Navarro’s value.
The Big Club hates him.  Yes, Navarro is hated and opposed by all the right people.  He might be rough around the edges, but he fights… for ‘America First‘.
Navarro is unapologetic in openly calling attention to the process where Wall Street, the multinationals (corporations and banks) have gained power and influence over politicians in Washington DC.  Wall Street funnels hundreds-of-millions to Tom Dohohue, President of the U.S. Chamber of Commerce.  Donohue controls an army of K-Street lobbyists who purchase politicians and sell their CoC created legislation.
Specifically because he calls attention to the brutal truth of a corrupt process, he has become the target of attacks from Wall Street’s beneficiaries, the big club and Decepticon senators who take massive campaign bribes from Tom Donohue.
In a recent Op-ed, Peter Navarro highlights how the Trump economic team is delivering on a promise for structural global trade reform that directly benefits the U.S. economy, U.S. workers, and Main Street USA.
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White House Council of Economic Advisers Chair Kevin Hassett discusses the U.S. economy’s 2.6 percent growth in the fourth quarter, and the outlook for the U.S. economy through the rest of 2019.

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Notice how most of the financial pundits are focusing on what the “global economy” needs; specifically what the EU and China need to do to gain economic growth.  From that position, the U.S. trade reset is adverse to their financial interest; those financial interests are driven by Wall Street not Main Street.
Economic nationalists who understand the concept of ‘America First’ focus on what the USA economy needs, and do not accept a position that the U.S. should acquiesce our position to benefit the economic needs of other nations.  That’s the primary difference.
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Earlier this afternoon President Donald Trump met with Austria’s Chancellor Sebastian Kurz [Video and Transcript below] Additionally, the president answered questions from the White House media on current events and issues including the section 232 auto-tariffs, the upcoming visit to the DPRK, AG Bill Barr and Andrew McCabe.

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[Transcript] – Oval Office 1:52 P.M. EST – PRESIDENT TRUMP: Hello, everyone. Thank you very much. And it’s great to be with the Chancellor of Austria. We have a tremendous relationship, long term, with Austria. And we’re going to be discussing numerous things — immigration — today. But we’re also discussing trade. We have a very big trade presence and a very good relationship on trade. We do a lot of business with each other.
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Commerce Secretary Wilbur Ross has completed the section 232 investigation on the auto industry, reviewing the sector as a vital economic interest for continued national security.

The content of the investigative finding is unknown. The Commerce Department has privately delivered the 232 report directly to the White House. However, with the possibility of the report empowering President Trump to implement 20 to 25% import auto tariffs industry executives are proactively going bananas.
An important aspect here is that the USMCA (U.S., Mexico and Canada) agreement exempts the trilateral North American pact from any auto tariff fear. If the vehicle consists of 75% North American (USMCA) content, there’s no tariff.
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