Earlier today President Donald Trump welcomed a group of American workers into the Oval Office for a discussion of removing “red tape” and barriers to economic expansion.

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[Transcript] – Oval Office – 11:15 A.M. EDT – THE PRESIDENT: Thank you very much, and welcome to the Oval Office. On Monday, I traveled to Florida and Georgia to meet with first responders and to visit with those affected by the devastation of Hurricane Michael. And yesterday, Mike Pence traveled also to the two states and he saw devastation like he’s never seen before. We’re in the same category. It was something. Something horrible.
Thousands of federal employees and military personnel have been deployed to assist in the massive recovery effort. One of the biggest we’ve ever done, and we’ve had some pretty big hurricanes. This was just about at the top.
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For more than three decades all U.S. economic policy was elevating Wall Street and diminishing Main Street. As a result the middle America blue-collar workers have not had wage gains keeping up with inflation for over 30 years… Then came the era of Trump.

MAGAnomic policy is based around a very simple free-market process.  Increase domestic economic investment; expand new business and expansion in existing business; that expands the need for employment; drive those jobs, jobs, jobs and watch wages rise naturally as employers compete over an increasingly valuable labor pool.

Business Insider – The pharmacy-chain owner Walgreens Boots Alliance announced Thursday that it will make investments of about $150 million to boost mainly its in-store wages in fiscal 2019 in wake of President Donald Trump’s tax reforms.
[…] US retailers are scrambling to keep workers as they look for opportunities with higher pay and attractive benefits. The US unemployment rate fell to a 48-year low of 3.7% in September. According to the Bureau of Labour statistics, there were 757,000 retail-job openings across the United States in July, which is about 100,000 more than a year ago.

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Very funny: “President Trump’s policies have re-jiggered the incentive system in the economy.”  …Well, that’s a slightly different wording than CTH has used since 2016, but what Mr. Kudlow is highlighting is how POTUS has uncoupled the U.S. economic engine from Wall Street investment and re-coupled it to Main Street investment. [Go Deep]
Then comes the funniest pundit question ever…. “where is this disconnect coming from?”
Too funny.  Long-term CTH readers likely joining me in laughing at the predictability of it all.   [“Disconnect” January 2016]  or [“Disconnect” July 2017]

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The Fundamentals of MAGAnomics HERE

Understanding the “Disconnect” HERE

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President Trump began opening remarks, prior to Senate Bill 3508, with discussion surrounding Hurricane Michael and the ongoing recovery efforts.
The Save Our Seas Act involves the administration confronting foreign nations who dump trash and debris into the oceans. All forward U.S. trade agreements will include passages forcing trade partners to control oceanic trash and debris.

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[Oval Office Transcript] – 11:27 A.M. EDT – THE PRESIDENT: Okay. Thank you very much. I very much appreciate your being here. We have hurricane reports on Hurricane Michael. Unbelievably destructive, powerful.
The one good thing we can say — we were just discussing — is that it was the fastest hurricane anybody has seen. It just was speedy. If it wasn’t, there would be absolutely nothing left. It was incredibly powerful. You’ve seen the destruction.
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H.R. 1551 The Music Modernization Act – closes loopholes in our digital royalty laws to ensure that songwriters, artists, producers, and providers receive fair payment for the licensing of music.

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[White House ] 11:57 A.M. EDT – THE PRESIDENT: I know you’ve been waiting for this for a long time, you folks. Right? For a long time. Hi, Shelley. Hi, everybody. They’ve been working on this for years and years and years. And I guess certain entertainers have been taken advantage of — but no longer, because of Trump. Can you believe it? (Laughter.) Who would think? Who would think?
But I’m thrilled — I know so many of you. I mean, it’s just great. And I definitely know your music, and you’ve done a great job.
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Everything is happening in a very predictable sequence. Few understand the MAGAnomic reset and what was predicted to happen in the space between disconnecting a Wall Street economic engine (globalism and multinationals) and restarting a Main Street economic engine (nationalism/America-First).  In 2016 CTH explained where we would be today. With current Wall Street events, perhaps it is worthwhile remembering the CTH forecast.

Originally outlined far more than a year ago. Reposted by request.

President Trump’s MAGAnomic trade and foreign policy agenda is jaw-dropping in scale, scope and consequence. There are multiple simultaneous aspects to each policy objective; however, many have been visible for a long time – some even before the election victory in November ’16.
If we get too far in the weeds the larger picture is lost. CTH objective is to continue pointing focus toward the larger horizon, and then at specific inflection points to dive into the topic and explain how each moment is connected to the larger strategy.

Today we repost an earlier dive into how MAGAnomic policy interacts with multinational Wall Street, the stock market, the U.S. financial system and perhaps your personal financial value. Again, reference and source material is included at the end of the outline.
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National Economic Council Chairman Larry Kudlow appears on Sunday Morning to talk about the U.S.MCA agreement; the state of the economy; and the ongoing MAGAnomic efforts within restructured trade deals.
Ms. Maria Bartiromo knows the weeds, and is smart enough to see the new dimension within an economy as it moves away from Wall Street toward Main Street.  Kudlow discusses the surfacing MAGAnomic evidence within wage growth and blue-collar benefits. The conversation then goes international. Good discussion.
The Koala even gets a little cross about China…

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In Part II of the Chairman Nunes interview today, Maria Bartiromo discusses the state of the economy, the downstream political consequences from the Kavanaugh smear job, and the mid-term elections.

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Hammer it home Pete, keep hammering it home.  “U.S. Economic Security is U.S. National Security”; and by extension global security. Those words were first spoken by Commerce Secretary Wilbur Ross to an international audience at Davos in 2017.
In the almost two years since first proclaimed, President Trump and the economic team have been executing economic policy to hit on this key message.  Trade deals, internal regulatory policy, tax policy, monetary policy, education policy and modern workforce initiatives are all inherently tied together to ensure U.S. National Security.
In the big picture President Trump is earnestly focused on rebuilding the American middle-class because the blue-collar and white-collar middle-class jobs are the heart of the American economic security.  All of these policies are connected to the middle class because it is the middle class that strengthens America.
This is an important conversation.  Learn it, teach it. Spread the importance of it:

Part-Two of the interview below:
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The Bureau of Labor Statistics (BLS) release the first estimated September jobs report earlier today [Details Here] reflecting 134,000 new jobs added last month.  However, that’s not the story – The BLS revised August upward +69,000, and July +18,000.
The cumulative jobs gained 134k + 87k equals 221,000 new jobs. Lowering the unemployment rate to 3.7% the lowest unemployment statistic since 1969.

First, a note on the *revisions*.  How did the BLS underestimate (twice) the August jobs report by 70k ?  This is stunning: 201k -vs- 270k. That’s a 30% error rate?  Someone’s head needs to roll, because it looks like politically motivated statistical sandbagging.

BLS – […] The change in total nonfarm payroll employment for July was revised up from +147,000 to +165,000, and the change for August was revised up from +201,000 to +270,000. With these revisions, employment gains in July and August combined were 87,000 more than previously reported.  After revisions, job gains have averaged 190,000 per month over the last 3 months.

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