Another week – another set of weekly economic data – another upward forecast of anticipated 4th Quarter GDP growth.  Two weeks ago the Fed raised the 4th quarter growth projection to 3.2%. Last Week they revised that up to 3.8%. This week they have revised it upward again to 3.93%

Oh, the winning…. squeeze the kids.  REMEMBER:

…”Hold on to your economic britches peeps – throw dem ju-ju bones out the windows – grab hold of the young-un’s, squeeze em tight and introduce them to ‘capitalism unchained’. We are in uncharted MAGA territory now. Q4 will be well beyond 3.2% 3.8%  3.9%… Well Beyond.”…

MAGAnomics is a generally common sense approach toward achieving dynamic growth in the U.S. economy. Left-leaning U.S. economic experts (most of them) are gnashing their teeth as the America-First MAGAnomic principles are paying YUGE initial dividends.
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Earlier this morning, while departing the White House for a fundraiser in New York, President Trump delivered remarks on last night’s historic senate tax vote.  Additionally, the President answered a question about Michael Flynn’s plea deal:

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WHITE HOUSE STATEMENT: President Donald J. Trump applauds the Senate for passing the Tax Cuts and Jobs Act. The Senators who voted for these historic tax cuts did a great service to their constituents as they supported putting America first, growing the economy, and rebuilding our great country.
The policies in this bill will cut taxes for hardworking families and put our economy on a path of sustainable economic prosperity and job creation. We have a once-in-a-lifetime opportunity to reclaim Americas great destiny. The Administration looks forward to working with Congress to fulfill the promise we made to deliver historic tax cuts for the American people by the end of the year. (link)
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UPDATE: 1:49am EST The final Senate Tax Reform Bill Passes 51-49.  Senator Bob Corker was the lone republican voting against the bill.

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There’s a big con job just over the horizon.  All of the elements are there.  The timing, the platform, the personalities, the discussion topics, etc., it’s a familiar script.  CTH would like to direct attention to this interview which took place last night on Laura Ingraham’s new Fox News show.  Listen carefully to three elements:
♦On Tax Reform – on one side of Rubio’s ‘full-throated‘ mouth he wants higher taxes on corporations 22% -vs- 20%. In the almost the same breath, inside the same argument, he says “it’s not their (the government’s) money”.   Try to reconcile that.
♦On DACA – [Remember, three months ago President Trump gave congress six months to fix DACA]  Rubio says the “Deferred Action for Childhood Arrivals” (DACA) program is not the “Dreamers”.  What? Yes it is. The childhood arrivals ARE the so-called ‘dreamers’.
♦However, much more importantly, listen to what is said on “chain migration“.  Ingraham asks if Rubio supports “chain migration”.   Rubio says no, then immediately says: “I’ve always agreed to limiting chain migration to immediate family members”. WHAT? That is chain migration.

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President Donald J. Trump will give a speech in St. Charles, MO on tax reform. The event will take place at the St. Charles Convention Center.  Anticipated start time 3:00-3:30pm
UPDATE: Video Added

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Office of Management and Budget Director Mick Mulvaney appears on CNN today with Jake Tapper to discuss the Tax Reform Bill and the current Senate version.
Tapper has the ‘Media Matters’ talking points cued up; however, unfortunately for Tapper, Mulvaney knows the intricacies and swats the annoying gnatter chat. Actually, in the $30k example provided by Tapper – Mulvaney went easy on him.

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Interestingly, Mick Mulvaney was also appointed to be the interim head of the CFPB this week; which has ramifications for left-wing economic control loons far greater than the tax reform package.  [More on that later.]  OMB Director Mick Mulvaney also appeared on CBS with John Dickerson (below):
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There is a notable intent to talk down the economy amid almost all financial news providers.  However, despite their negative tone the economic reality continues to surpass their Eeyore disposition.
October’s U.S. housing starts jumped +13.7% to 1.29 million units and now begins to catch up with the underlying economic data.
You’ll note CTH discussed how housing would be regionally specific as the larger Main Street MAGAnomic policies were implemented.
Capital expenditures by home builders and home purchasers are the biggest financial decisions for most American workers.
Due to the deliberate factors involved, home purchasing is the largest railroad car in the economic train; it is also positioned in the rear of the economic sequencing.  However, when home building takes off the entire economic train gains momentum.

(Via Reuters) […] The sharp rebound in home construction reported by the Commerce Department on Friday was also driven by robust gains in the Northeast and Midwest regions.
The broad recovery could ease concerns about the housing market, which has been a drag on economic growth since the second quarter. The report added to labor market, manufacturing and retail sales data that have pointed to strong economic momentum as the year winds down.

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There are many people taking notice of modern politics for the first time in their lives. There is also some confusion noticed between two groups who talk above and around each other. Two groups communicating from two entirely different sets of understanding.  Perhaps it is valuable to reset the larger frames of reference and provide clarity.
Many, heck, most people think when they vote for a federal politician -a representative- they are voting for a person who will go to Washington DC and write or enact legislation. This is the old-fashioned “schoolhouse rock” perspective based on decades past.
There is not a single congress person who writes legislation or laws.
In 2017 not a single member of the House of Representatives or Senator writes a law, or puts pen to paper to write out a legislative construct. This simply doesn’t happen.
Over the past several decades a system of constructing legislation has taken over Washington DC that more resembles a business operation than a legislative body. Here’s how it works right now.
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Multinational corporations and foreign governments spend hundreds of millions in Washington DC lobbying House and Senate politicians to retain trade positions.  It’s generally a legal bribery business where congressional representatives get rich by selling their votes to corporations and foreign governments.
Most of you already know the game: It’s a big club, and we -the working class- ain’t in it.
Fortunately for us, President Trump won the election without funding from the big corporations and lobbyists within the U.S. political system.  As such they cannot influence Trump’s decisions on economic policy matters and trade; and President Trump rarely invites them into the White House for policy meetings.
Specifically because the lobbyists don’t have access to the White House they rely on their purchased politicians in the House and Senate to influence the administration.

The multinational corporations and multinational banks are against the U.S. removing ourselves from multilateral trade agreements.  Those institutions rely on being able to manipulate the U.S. consumer market – EXPLAINED HERE.  The biggest influence agent, and by far the biggest lobbyist spender, is Tom Donohue, President of the U.S. Chamber of Commerce, who represents the interests of the multinational corporations and Wall St.
So when you see these letters, knowing they are written by K-Street and transcribed onto legislative letterhead by political staffers, all you need to do is look at the signatures of the politicians and you can quickly identify who has been purchased by Tom Donohue:
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CTH has attempted to stay away from talking about the Alabama ‘clown show‘, all of it, since we made our position clear long before the primary run-off race.  Play stupid games, win stupid prizes etc.
My concern with the Alabama mess was a very simple MAGA issue: riding horses to polling stations does not establish a connection to the man or woman who hit the necessary alarm clock at 5:15am to pay the bills.  Those are MAGA people. That’s the essence of the Trump coalition.
The MAGA coalition I know has never been predisposed to racism, sexism, nativism, or any other kind of “ism” or “ist”, because we’ve never been not busy. It takes time to give a rats-ass about bathroom police, social justice etc. Time and energy for that, who has it?

The current position of the epic fiasco was/is entirely predictable…. warnings, deaf ears, blah-blah-blah; water under the bridge.  That said, the current race to the exits by all of the fly-by-nights (populist wallflowers) is embarrassing to see play out.
Factually, I feel sorry for Mr. and Mrs. Roy Moore… However, I don’t have a smidgen of sympathy for the noob-right financial opportunists: Steve Bannon, Laura Ingraham, Sebastian Gorka et al, or the political Roberts-The-Bruce: Ted Cruz, Mike Lee etc. Heck, I’m still waiting for the ‘Use El Chappo Money to Build The Wall‘ bill…  I digress.
So why engage now?  Well, today Rush Limbaugh weighs in in using the customary (passive aggressive/mamet principle) approach to frame the argument as: “The Roy Moore Soap Opera is Really About McConnell -vs- Bannon”.   No, no it’s not.
I understand the frame of reference, why Limbaugh views it that way, but that’s not an accurate assessment.
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