Leftists love to trot out Christine Lagarde as the pontificating elite to defend their multinational interests.  Recently the former IMF leader was elected to take control of the European Central Bank.   As a direct result, Ms. Lagarde is now taking an adverse position toward a strong U.S. economy and decrying the ‘America-First’ policies of President Trump that have removed the tentacles of global financial control.
If you follow trade, finance and the interests of the multinationals, this is actually quite funny.  In this first brief interview segment Ms. Lagarde, has the elitist audacity to warn President Trump that lowering U.S. interest rates defeats the agenda of the EU.  She doesn’t put it in those terms, but watch and we’ll explain:

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Notice how Lagarde magnanimously claims that lowering interest rates when the U.S. economy is strong, and the U.S. unemployment rate is at historic lows, could lead to rising prices inside the U.S.  Too damned funny; how very kind of the EU to be worried about U.S. consumers… (pro tip: they ain’t).
What she’s really worried about is the dynamic that President Trump has created that is crushing the globalists. Let’s expand.
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Speaker Nancy Pelosi has a plan, at least the collective ideology behind her has a plan.  Her recent trip to Jordan and Afghanistan are part of that plan; everything is essentially connected.    Pelosi will do whatever is needed to hamper the U.S. economy in an effort to weaken President Trump’s relection bid.  Blocking the USMCA is part of that aspect.
The visit to Jordan and Afghanistan was purposeful ground work in preparing to seed the narrative that President Trump’s withdrawal from mid-east conflict is evidence of dangerous foreign policy.  Again, just like the USMCA stall, the larger goal is to weaken the President in advance of 2020.  Everything is connected.
National Economic Council Director Larry Kudlow appears to be realizing the Democrat’s hatred for ‘America-First’, which weakens their personal financial position, is their driving ideology.

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Commerce Secretary Wilbur Ross discusses the negotiations with China and the possibility of agreement on ‘Phase-1’ aspects prior to December.  Secretary Ross is not necessarily optimistic the agreement will be made based on Beijing’s outlook toward the enforcement mechanisms and forced compliance. Ross also discusses Brexit from the position of mutual benefit.
On the subject of USMCA Secretary Ross outlines the only reason for Democrats to hold back ratification is Pelosi’s politics. [Only 20 legislative days left in 2019] Mr. Ross discusses the options if Pelosi refuses to take up ratification.  On this subject the commerce secretary does not sound optimistic.

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Trying to find the details within the U.K-EU Brexit deal is more difficult than finding evidence of a Yeti.  The negotiating team secrecy is inherent to the way the elites within the European systems work. Essentially the “betters” rule the proles by hiding the details and relying upon the electorate to “trust” the outlined framework of their elected superiors.
Hiding details is a feature within the European system and the way the government looks at their role.
That said, tomorrow British members of parliament will begin debating the deal for the UK to exit the EU.  The deal was modified by Boris Johnson.  A backgrounder:

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Farage is concerned, rightly, about how the framework of the EU customs union is constructed to influence the UK after Brexit.  From what can be determined there’s a triggering mechanism where the UK and EU begin a lengthy process to construct a UK trade agreement with the EU after Brexit takes place.
Within that post-Brexit automatic trade-framework is where the European Union is seeking to retain their influence over the United Kingdom. However, it is not accurate to overlay EU influence too heavily, and here’s why….
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Earlier today Nancy Pelosi was questioned about why the House was not voting to pass the USMCA trade agreement.  Speaker Pelosi immediately fell back upon her talking point: “we are working toward yes.”   This is complete hogwash.  There are no discussions. Pelosi is doing what Pelosi does best, politicizing anything positive for the U.S. economy in a concerted effort to undermine Trump in 2020.
Here’s what is going on.
Nancy Pelosi and her far-left ideologues entered an agreement with their Canadian liberal allies and Justin Trudeau to stall the USMCA passage.
Trudeau’s government ideologues agreed not to call the USMCA up for a vote in the Canadian parliament.
Speaker Pelosi is waiting to see if Trudeau can win re-election.  If Canada re-elects Trudeau on October 21st, Pelosi will announce the labor provisions are not strong enough within the USMCA deal; discussions with the Trump administration are not resolving the issues; the U.S. workers are not protected enough, and she is tabling any vote.
Speaker Pelosi will then wait until after the 2020 election.  The purpose is political.
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Earlier today President Trump met with Italian President Matarella and held a press availability in the oval office prior to bilateral discussions. [Video and Transcript below]

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[Transcript] – PRESIDENT TRUMP: Well, thank you very much. It’s a great honor to have the President of Italy with us. He is a man of great distinction. He’s highly respected in this country. And it’s nice to have you at the White House. Thank you very much, Mr. President.

We’ve had a great relationship with Italy for a long time. I don’t think it’s ever been closer than it is now. We have won a $7.5 billion award from, as you know — I guess it’s been pretty big news. And I know that this is against the European Union and World Trade — good ole World Trade. For a long time, they’ve been taking advantage of the United States. And I know Turkey is going to talk to us about their share of it because they feel they shouldn’t have to pay so much.

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Commerce Secretary delivered a speech to the Federalist Society today as he explained U.S. trade policy under President Trump and the long-term goals and objectives.

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Hat Tip OverTheMoonbat for making sure we didn’t miss this segment from last week.  This video also explains why Larry Kudlow, Secretary Mnuchin, Secretary Ross and Peter Navarro have tended to spend more time discussing economic policy with CNBC analysts than Fox Business.   However, before watching, it is worth revisiting the background.

For three years CTH has explained the challenge in dealing with, or renegotiating with, the Beijing, China ideology.  Encapsulated thus in 2018:

[…] China has no cultural or political space between peace and war; they are a historic nation based on two points of polarity. They see peace and war as coexisting with each other.
China accepts and believes opposite or contrary forces may actually be complementary, interconnected, and interdependent in the natural world, and they may give rise to each other as they interrelate to one another. Flowing between these polar states is a natural dynamic to be used -with serious contemplation- in advancing objectives as needed.
Peace or war. Win or lose. Yin and Yang. Culturally there is no middle position in dealings with China; they are not constitutionally capable of understanding or valuing the western philosophy of mutual benefit where concession of terms gains a larger outcome. If it does not benefit China, it is not done. The outlook is simply, a polarity of peace or war. In politics or economics the same perspective is true. It is a zero-sum outlook.
If it does not benefit China, it is not done !

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Steve Bannon is at his best when he explains how the Chinese Communist Party (CCP) use their power in economics -against the capitalist view of profit- to erode the values of western companies and corporations.   Good points made in this interview.

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Here is the video and transcript from the Oval Office press announcement by President Trump and Chinese Vice-Premier Liu He.   USTR Lighthizer and Secretary Mnuchin also provided some insight into “Phase-One” of the U.S-China trade agreement.

[Transcript] – PRESIDENT TRUMP: Well, thank you very much. We’ve had a lot of very big news and some very good news today. But I’d like to hold this for China. There’s nothing bigger than what we’re doing with China. I think it’s important that these are the questions that are asked. And, as you know, we have the Vice Premier of China, one of the most respected men in all of China, and the world, for that matter. And we have great respect for him, a great friendship with him.
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