President Trump and Justin from Canada hold a bilateral discussion on the sidelines of the G7 Summit in Biarritz, France. No-one is exactly sure why Justin from Canada is there; both leaders talked about the USMCA, again; and the media did not have any questions for anyone about Canada. [Video and Transcript Below]
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[Transcript] – PRIME MINISTER TRUDEAU: Well, it’s always a pleasure to sit down with President Trump. We’ve had some good conversations already, particularly on the global economy. The Canadian and American economy are doing well, partially because of the trading relationship we have and the great work we did. (more…)
Within the dynamic of the U.S -vs- China trade confrontation, CTH has long noted the Wall Street (globalist) multinationals would always go bananas. There are trillions at stake and President Trump is confronting three decades of financial influence from Wall Street’s multinational corporate lobbyists.
To the angst of Wall Street, POTUS Trump tweets the dynamic.
President Trump will not back down from his position; the U.S. holds all of the leverage and the issue must be addressed. President Trump has waited three decades for this moment. Main Street U.S.A has waited for this moment. This President and his team are entirely prepared for this battle…. Now we fight!
We are finally confronting the geopolitical Red Dragon, China!
President Trump has been brutally consistent for more than three decades on his intent and purpose with the Chinese. President Trump is the first U.S. President to understand how the red dragon hides nefarious motives behind the panda mask.
Additionally, while carrying out the objectives of the confrontation, Secretary Mnuchin, Secretary Ross, Ambassador Lighthizer and adviser Peter Navarro are well aware of Beijing’s duplicitous panda mask; POTUS Trump will never let them forget about it. (more…)
God bless Secretary of State Mike Pompeo for having the diplomatic restraint to stand next to the absolute worst diplomat on the planet and retaining his cool. Canadian Foreign Minister Chrystia Freeland stands atop her proverbial high-horse and pontificates a diatribe that only a smug leftist can deliver.
If you are familiar with world events,… and you don’t want a blood pressure cuff to explode,… then don’t watch this joint press conference. [Transcript likely later today] If you’ve ever watched two diplomats pretend to have any commonality, while simultaneously jabbing each-other in the eye, this is an audio-visual exhibition:
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To say the Trump administration and Trudeau administration are ideologically oil and water would be the understatement of the year. The U.S. and Canadian, political, cultural, geopolitical and economic outlooks are entirely divergent.
That reality is one of the reasons why an open U.S. Ambassador to Canada position is unlikely to be filled. Seriously, who wants to talk to these smug and condescending jerks? (more…)
President Trump was delivering another round of delicious Chopper Presser rebuttals to the MSM narrative engineers today, when he remarked about confronting China: “I am the chosen one”… And the media had the customary spontaneous ‘splodey head.
First, the people’s president is right, he is the chosen one. Through prayer and divine providence, we finally have a businessman fighting for Main Street USA. Secondly, it’s funny to watch an entire MSM apparatus that decries religion, suddenly searching for scripture in their anti-MAGA talking points. Too funny. Only Trump can achieve this.
Epic. Just epic. WATCH:
The Wall Street pundits are having a harder time pushing their recessionary economic narrative while the results from Main Street continue to beat expectations. Two data points continue to highlight the strength of Main Street: Home Sales and Wage Gains.
President Trump’s MAGAnomic policies are focused on delivering results to the middle-class worker and family. The middle-class American is the engine for a Main Street economy. Growing the middle-class is the key to strengthening the U.S. economy and blocking negative global economic influence. Growing the middle-class is how the U.S. economy continues to be self-sustaining. [We buy/use 80% of our own production.] Today The National Association of Realtors released data showing existing home sales rose 2.5% to a seasonally adjusted annual rate of 5.42 million units in July. Forecasters only expected 5.39 million units. The U.S. Main Street housing market is very strong.
Because the results defy pundit expectation, Reuters has to ignore the strength of Main Street and put the Wall Street spin on the results. The efforts to keep pushing a negative economic narrative are intense [Trillions At Stake]:
WASHINGTON (Reuters) – U.S. home sales rose more than expected in July, boosted by lower mortgage rates and a strong labor market, signs the Federal Reserve’s shift toward lower interest rates was supporting the economy.
President Donald J. Trump spoke by telephone with Prime Minister Boris Johnson of the United Kingdom earlier today to discuss a wide range of trade and economic issues. Prime Minister Johnson also provided the President with an update on Brexit. The President expressed great enthusiasm for his upcoming meeting with the Prime Minister at the G7 Summit in Biarritz, France. (link)
The G7 is being held August 24th – 26th. The word of a tentative post-Brexit U.S-U.K trade agreement was first released last week. The potential construct has the assembly of mutual benefit and follows a plan previously recommended by President Trump to Prime Minister Theresa May. (more…)
White House Trade and Manufacturing Advisor Peter Navarro appears on CBS ‘Face the Nation’ and ABC ‘This Week’ to outline the strength of the U.S. economy, and the current U.S-China trade reset, including tariffs.
There are trillions at stake. Food for thought – contemplate how Sunday media bookings take place. The ‘subject‘ for Sunday interview discussions, and who they need for their narrative engineering sessions (ie. interview schedules), are made by MSM *corporate media early in each week. [*U.S. Media are owned by Wall Street multinational conglomerates]
Obviously, as noted in the WH scheduling requests, the corporate MSM was planning to follow up and exploit their 48 hour engineered narrative (Tue/Wed) surrounding a false recession. Unfortunately the excellent Commerce Dept. economic data released Thursday crushed their objectives… Thus, the corporate media were tripped up mid-plan.
White House Trade and Manufacturing Policy Advisor Peter Navarro appears on CNN to debate economic policy with Jake Tapper. As customary Tapper attempts to use the Multinational Big AG talking points to identify farmers as victims.
♦The yield on the benchmark 10-year Treasury note dropped to 1.623% Wednesday for less than one hour; momentarily below the 2-year bond rate of 1.634%. The cause was a rapid influx of foreign capital, mostly from the EU (due to negative interest rates), into the U.S. to secure a return. This is not comparable to the historic ‘bond rate inversion’.
♦The biggest fallacy pushed in this interview, YET AGAIN, surrounds price impacts on Chinese imports. Tapper takes the talking points of the Wall Street multinationals, and their paid think-tanks, to push an empirically false assertion of the U.S. consumer paying for tariffs on China. Here’s the easiest refutation of that nonsense:
The Steel (25%) and Aluminum (10%) tariffs have been in place for two years.
The 25% tariff on $250 billion Chinese goods have been in place over a full year.
If the tariffs on China were impacting consumers, inflation would be much higher. In fact the exact opposite is happening. Because the protectionist Chinese and EU currency manipulation hits *ALL* imports, including non-tariff products, we are actually importing deflation.
National Economic Council Chairman Larry Kudlow appears on NBC with Chuck Todd to debate the issues surrounding current trade and economic policy. While Todd is obviously annoying, Kudlow makes two important points:
The Q3 CapEx (capital expenditure) spending reflects a domestic energy sector investment pause related to the dropped cost of oil. A fluctuation related to extraction costs and projected finished product price. [Energy companies pause on low price.]
The Sept. “Next Step” tariff delay relates to pre-contracted prices of holiday goods with the import price attached to lower dollar value at the time of contract. The delay allows the arrival of product without price impact. If products were determined with current valuations the current arrival price would have been lower (offsetting tariffs).
An interesting article in the South China Morning Post (SCMP) highlights how China is shifting their procurement priority from minerals used in manufacturing (cobalt, copper) to the acquisition of food and agriculture products. The impact is being felt throughout Africa, where mining companies are shutting down operations because Chinese demand no longer exists.
Articles like this highlight the ancillary impacts of a weakened Chinese economy.
Despite the proclamations by Beijing about their ability to withstand the withdrawal of the U.S. as a primary customer for manufactured goods, reality shows they cannot.
There is a confluence of events all leading to radical changes just below the surface. China has been burning cash to subsidize industries impacted by U.S. tariffs. Simultaneously Beijing has lowered the value of their currency in an effort to eliminate the tariff impact in the cost of their finished goods. However, as the ideological economic conflict between the U.S. and China continues, Beijing cannot hold their position indefinitely. (more…)
