Earlier today President Trump attended a business and economic growth roundtable discussion in Miami Florida. The forum discussion was focused on the administration policy for economic growth.
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President Trump and Japanese Prime Minister Shinzo Abe are expected to meet today in Mar-a-largo to discuss regional issues surrounding upcoming North Korea summit and trade initiatives between the U.S. and Japan.
The Eagle and the Arrow – An Aesop’s Fable
An Eagle was soaring through the air. Suddenly it heard the whizz of an Arrow, and felt the dart pierce its breast. Slowly it fluttered down to earth. Its lifeblood pouring out. Looking at the Arrow with which it had been shot, the Eagle realized that the deadly shaft had been feathered with one of its own plumes.
Moral: We often give our enemies the means for our own destruction.
The United States economy is the Eagle; the shaft is Wall Street; the feather is the U.S. middle-class, and the archer is U.S. Chamber of Commerce President Tom Donohue.
Need proof? Please, don’t take my word for it, read:
Tom Donohue: Tonight feels like a gathering of old friends. Five years ago, I had the pleasure of being in this beautiful city to help start a hemispheric business dialogue, and I’m pleased to be back in Lima for this year’s CEO Summit of the Americas.
[…] I also want to talk a little about the priorities within our government. Because, as everyone knows, many of the policy decisions coming out of Washington today not only impact the U.S. economy and its businesses and workers, but indeed those across this hemisphere and around the world.
[…] The Chamber has helped lead the fight to protect the status of more than one million people who are at risk of deportation. It makes no sense to send one million talented workers back to their home countries when we don’t have enough labor to get the job done in our own. This includes the young men and women who were brought to our country as children through no fault of their own—known as “the Dreamers”—as well as hundreds of thousands of individuals who are working in the U.S. under temporary protected status.
President Trump will give remarks regarding tax cuts for American workers. Anticipated start time 1:45pm EST
UPDATE: Video Added
House Speaker Paul ‘Omnibus’ Ryan announced earlier today he is not seeking re-election in November. During a press conference announcement, after meeting with House lawmakers, Omnibus-Ryan stated his primary motivation was so he could spend more time with his wife and children. Omnibus-Ryan stated he did not want his kids to only remember him as a “weekend Dad.”
“If I am here for one more term, my kids will only ever have known me as a weekend Dad — I just can’t let that happen.”
Speaker Paul Ryan is a truly good man, and while he will not be seeking re-election, he will leave a legacy of achievement that nobody can question. We are with you Paul!
— Donald J. Trump (@realDonaldTrump) April 11, 2018
National Economic Council Director Larry Kudlow appears on Bloomberg News to discuss U.S-China trade confrontations, the use of tariffs, and the potential for negotiations between the two nations:
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Obviously – with the ongoing issues surrounding NAFTA, and China’s exploitation of the fatal flaw therein, in combination with President Trump confronting the dragon behind the false Panda mask, the fight for MAGAnomic America-First policy execution is entering a new phase….
The multinational interests who benefited from the prior U.S. global trade approach are increasingly desperate. There are trillions at stake.
Today President Trump is traveling to White Sulphur Springs, West Virginia, to deliver remarks at a tax reform meeting and roundtable. The President is anticipated to deliver remarks to the audience at approximately 2:25pm EST:
Neil Cavuto is the defender of multinational Wall Street interests. Cavuto’s boss, Rupert Murdoch has a well known insider nickname: “Mr. Wall Street”… The Murdoch operations (Fox News and Wall Street Journal among them) are ideological advocates for multinational corporations and historic globalist trade practices; to the detriment of the U.S. middle-class. Cavuto and Murdoch are aligned with U.S. Chamber of Commerce President, Tom Donohue, in all things related to Big Multinational Trade.
In this interview there is a very apropos example of the twisted disconnect evident in the multinational corporate media perspective. Please watch the part that begins around 04:55 and listen closely to Cavuto:
…”and we’re really seeing the effect on the folks who have to pay the bills for this sort of thing … we’re already seeing soybean prices coming down; we’re seeing pork related prices coming down … folks are taking it on the chin, what are you telling them?”… etc.
There it is. Did you catch it?
In discussing futures Cavuto sounds the alarm for “Soybean prices coming down.” “Pork prices coming down”; and “the folks “taking it on the chin.”
Now, think. What Neil Cavuto is saying is that U.S. food futures prices are forecast to come down. In that scenario who exactly is taking it on the chin?
Who is it that Neil Cavuto sees losing out in his position? It’s not the family going to the grocery store… they will see lower prices… so who are these “folks” losing out?
The final quantification of the Bureau of Economic Analysis fourth quarter GDP growth rate was released today, reflecting an anticipated increase from the prior two estimations. The last revised estimation of GDP growth (February) was +2.5%, the final revised estimate is +2.9% growth.
A massive increase in consumer spending (+4%) around the October through December 31st time-frame (Q4) was offset by those dollars purchasing a large portion of imported products. The GDP growth deduction from import purchases was 1.99%. [See table #2, line 50 pdf here]
In short, American consumers spent significantly more than usual in the holiday season; however, many of those purchases were foreign goods.
From the BEA Report – Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2017 (table 1), according to the “third” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.
Without apology CTH continues to state all opposition to President Trump finds the epicenter of motive behind the economic policy. There are trillions at stake.
Yes, there are ideological differences, but do not doubt for a moment the existential threat is the core principle behind America-First economics.
Multinational corporations and global financial interests have more than a generation of effort invested within the modern trade and economic constructs that President Trump is challenging head-on.
Politicians do not construct legislation, K-Street lobbyists do. Hundreds of millions have been spent purchasing politicians as a sales force to protect those financial interests. Challenge their financial trade schemes and you are threatening the livelihood and financial systems that generate massive wealth for very powerful people. Additionally, the downstream effect threatens the affluence of the professional political class.
That said, there are American interests who will benefit, it’s just not popular within the cocktail party circuit to admit it:
(Bloomberg) China’s plan to counter U.S. import tariffs may throw global aluminum and steel traders into a tizzy, but the net result could be a boon for American primary-metal producers.
The retaliatory plan to slap tariffs on U.S. aluminum scrap and some steel products may boost American supplies, lowering raw-material prices, says Zaner Group LLC’s Peter Thomas. That could coax some metal producers to restart unused capacity in Rust Belt states if infrastructure spending picks up.
In 2008 the American taxpayer was a “client without a voice” when Citi-Group demanded a financial bailout. TARP followed as the largest bailout in history, and Citibank got the biggest bailout of all:
The final report from the Congressional Oversight Panel found that between TARP, the FDIC, and the Federal Reserve, Citigroup received the most federal funding during the financial crisis for a total of $476.2 billion in cash and guarantees. (link)
Fast forward ten years and now Citibank announces their intent to restrict business enterprise engaged in the Second Amendment, firearm sales. The motive is transparent; leadership within Citi-group are opponents to gun ownership and they have now made a decision to use their financial business as a weapon to enforce their political beliefs:
[…] Today, our CEO announced Citi is instituting a new U.S. Commercial Firearms Policy. […] Under this new policy, we will require new retail sector clients or partners to adhere to these best practices: (1) they don’t sell firearms to someone who hasn’t passed a background check, (2) they restrict the sale of firearms for individuals under 21 years of age, and (3) they don’t sell bump stocks or high-capacity magazines. This policy will apply across the firm, including to small business, commercial and institutional clients, as well as credit card partners, whether co-brand or private label. (more)
It is important to keep in mind that all three issues outlined by Citibank are not unlawful; these are social policies around firearm sales that Citibank is initiating on their own. If you follow the underlying policy to a reasonable outcome, the same approach could be taken toward barring auto dealers (who use Citi-financial products) from selling gasoline powered automobiles, because the people running Citibank are environmentalists.