Office of Management and Budgets (OMB) Director Mick Mulvaney outlines the structure, intents and purposes of the Trump administration Fiscal Year 2018 Budget. “The Taxpayers Budget”.
Sip slowly, this explainer was hard to write. There is a considerable amount of perplexed frustration following on the heels of Treasury Secretary Steven Mnuchin testifying to the Senate Banking Committee earlier today and specifically saying:
02:20 Glass-Steagall? “we do not support a separation of banks from investment banks, we think that would have a very significant problem on the financial markets, on the economy, on liquidity; and we think that there is proper things that potentially we could look at around regulation, but we do not support a separation of banks and investment banks.”
That statement runs counter to the Trump administration’s prior policy statements outlining a preference for a reinstatement of some form of “Glass-Steagall” regulatory separation between commercial banking and investment banking.
In essence when combined with the totality of Mnuchin’s testimony before the committee, Mnuchin is saying the current “too big to fail” (‘too big to succeed’) issue has created a problem for lending liquidity. Specifically, if divisional separation is required – the banks best interests would naturally put the investment division ahead of commercial lending and the liquid capital within the overall economy would shrink.
I think we have a handle on what the administration is doing based on the executive orders signed and explained earlier. Bear with me…
President Donald Trump held an informal luncheon with news reporters and TV anchors today in advance of the upcoming international visit. Brett Baier reports President Trump was relaxed, warm and comfortable and showing no change in disposition from all prior encounters. Most of the discussion was off the record, however the president did release the following response to a question from one of the participants at the meeting:
Reporter Question: “You made a point about the special counselor and and you believe it hurts this country” —
President Trump: “I believe it hurts our country terribly, because it shows we’re a divided, mixed-up, not-unified country. And we have very important things to be doing right now, whether it’s trade deals, whether it’s military, whether it’s stopping nuclear… all of the things that we discussed today. And I think this shows a very divided country.
It also happens to be a pure excuse for the Democrats having lost an election that they should have easily won because of the Electoral College being slanted so much in their way. That’s all this is. I think it shows division, and it shows that we’re not together as a country. And I think it’s a very, very negative thing. And hopefully, this can go quickly, because we have to show unity if we’re going to do great things with respect to the rest of the world.”
~ President Donald J Trump
The last federal budget was signed into law in September of 2007 for fiscal year 2008 by George W Bush. It has been almost an entire decade since the worlds largest economy, the United State of America, had a federal budget to control spending:
Senator Tom Cotton, Senator Ben Sasse, Senator Chuck Schumer
President Trump understands what lies at the heart of the opposition. DO YOU?
♦Multinational corporations purchase controlling interests in various national industry and economic elements of developed industrial western nations.
♦The Multinational Corporations making the purchases are underwritten by massive global financial institutions, multinational banks.
♦The Multinational Banks and the Multinational Corporations then utilize lobbying interests to manipulate internal political policy of the targeted nation state(s).
♦With control over the targeted national industry or interest, the multinationals then leverage export of the national asset (exfiltration) through trade agreements structured to the benefit of lesser developed nation states – where they have previously established a proactive financial footprint.
The ‘America First’ Trade Doctrine upsets the entire construct of this multinational export/control dynamic. President Trump focuses exclusively on bilateral trade deals with specific policy only looking out for the national interests of the United States.
Under President Trump’s Trade positions the exfiltration of U.S. national wealth is essentially stopped. This puts the multinational corporations, globalists who previously took a stake-hold in the U.S. economy with intention to export the wealth, in a position of holding interest of an asset they can no longer exploit.
If you can see the ramifications and grasp the inherent anger, you can begin to understand the severity of the opposition to President Trump. Again, President Trump knows. WATCH:
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All of these media efforts are intended to stop this agenda from happening. There are trillions of dollars at stake. President Trump will not let corporatist opposition and media block his goal. Politics might be downstream from pop culture, but pop culture is downstream from Economics. It’s always the economics stupid.
Newly confirmed U.S. Trade Representative Robert Lighthizer accepts his presidential commission today completing the cabinet of U.S. President Donald J Trump.
Together with his daughter, Claire, and son, Bob Jr., Robert Lighthizer was sworn in by Vice-President Mike Pence. A really wonderful ceremony.
Listen carefully to Lighthizer’s words which begin around 09:00 – HE IS NOT KIDDING OR OVERSTATING. BELIEVE IT.
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Trade Rep. Lighthizer joins a U.S. trade team including Commerce Secretary Wilbur Ross and U.S. Treasury Secretary Steven Mnuchin. Together with exceptional underlying staff and trade policy support members they represent the strongest U.S. trade policy team in our lifetime.
The WINNING future looks exceptionally bright.
To understand the larger objectives of the G7 Financial Ministers meeting it is important to understand the three-decade global financial construct they seek to protect. Global financial exploitation of national markets:
♦Multinational corporations purchase controlling interests in various national elements of developed industrial western nations.
♦The Multinational Corporations making the purchases are underwritten by massive global financial institutions, multinational banks.
♦The Multinational Banks and the Multinational Corporations then utilize lobbying interests to manipulate the internal political policy of the targeted nation state(s).
♦With control over the targeted national industry or interest, the multinationals then leverage export of the national asset (exfiltration) through trade agreements structured to the benefit of lesser developed nation states – where they have previously established a proactive financial footprint.
The ‘America First’ Trump-Trade Doctrine upsets the entire construct of this multinational export/control dynamic. Team Trump focuses exclusively on bilateral trade deals with specific policy only looking out for the national interests of the United States.
Under President Trump’s Trade positions exfiltration of U.S. national wealth is essentially stopped. This puts the multinational corporations, globalists who previously took a stake-hold in the U.S. economy with intention to export the wealth, in a position of holding interest of an asset they cannot exploit.
If you can see the ramifications, and can grasp the inherent anger, you can begin to understand the severity of the opposition to President Trump.
Andrew Breitbart truthfully stated: “politics are downstream from pop culture”. However, what Andrew never fully digested was that “Pop Culture” is downstream from “Economics”. Show me the opposition to President Trump and his policy objectives, and I’ll show you an entity with a vested financial interest in that opposition. Domestic or foreign opposition, it matters not – the financial motives are the same.
Last week commerce Secretary Wilbur Ross delivered remarks at the 47th Annual Washington Conference of the Americas. Within his remarks Wilburine explains the new U.S. administration’s strategy to increase overall commerce while reducing the trade deficit.
The Q&A begins around 19:00 and Secretary Ross explains what the Chinese “One-Belt One-Road” means to U.S. Trade. If you are interested in economic policy and how it will effect your daily lives this is a great watch. Remember, this is raw source material where you can make your own judgements about what is said/happening without the filter of the media telling you what is said/happening.
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When you understand what is outlined in honest explanations like this you can destroy the talking points of oppositional voices. This is the intellectual armament that helps you to discuss with your friends and families and cut through the media nonsense. The important battle-space is between our ears.
To understand the China ‘One-Belt / ‘One-World’ economic trade forum it becomes necessary to understand how structurally weak the Chinese economy was created.
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People often talk about the ‘strength’ of China’s economic model; and indeed within a specific part of their economy -manufacturing- they do have economic strength. However, the underlying critical architecture of the Chinese economic model is structurally flawed and President Trump with his current economic team understand the weakness better than all international adversaries.
Lets take a stroll and lightly discuss.
China is a central planning economy. Meaning it never was an outcropping of natural economic conditions. China was/is controlled as a communist style central-planning government; As such, it is important to reference the basic structural reality that China’s economy was created from the top down.
This construct of government creation is a key big picture distinction that sets the backdrop to understand how weak the economy really is.
Two great interviews with Commerce Secretary Wilbur Ross, aka “Wilburine”. Secretary Ross is easily the most comprehensively well-versed trade policy commerce secretary in modern history, perhaps ever.
Wilburine is discussing the recent U.S./China trade breakthrough. –BACKSTORY HERE– Additionally, at 08:30 of the interview Ross discusses NAFTA against the backdrop of the Senate not yet accepting his “letter of intent” to renegotiate the agreement. Secretary Ross discusses how Robert Lighthizer’s confirmation should help speed up the senate process.
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In substantive terms the bigger aspect to remember is how much more leverage there is in bilateral trade negotiations than multilateral agreements.
The Trans-Pacific-Partnership (TPP) would have held the U.S. hostage to agreements that in many cases were against our interests and to the benefit of the larger group of TPP nations. Former Secretary of State John Kerry stated openly: while China was not part of the original TPP framework, the participating nations held open a back door for China to enjoin.
Because President Trump pulled away from TPP, the U.S. is able to negotiate terms for trade with our market that may have specific and purposeful benefit exclusive to the United States. This is critical as we review current negotiated bilateral deal with China.