Amid the latest evidence that Hunter and Joe Biden are selling their ability to influence U.S. institutions to the benefit of foreign governments, I have received numerous requests to once again explain what those foreign interests are purchasing.

Understanding the purchase requires understanding the term “exfiltration” of wealth.  To understand the purchasing system, it becomes necessary to understand the underlying financial & economic constructs; the cornerstone of U.S. wealth. We begin…

President Trump is disrupting decades of multinational financial interests who use the U.S. as a host for their ideological & economic objectives. President Trump is confronting multinational corporations and the global constructs of economic systems that were put in place, by DC politicians and billionaire elites, to the detriment of the USA; ie. YOU.

There are trillions at stake.  All else is chaff and countermeasures.

We are already familiar how China, Mexico and ASEAN nations export our raw materials (ore, coking coal, rare earth minerals etc.). The raw materials are used to manufacture goods overseas, the cheap durable goods are then shipped back into the U.S. for purchase.

It is within this decades-long process where we lost the manufacturing base, and the multinational economic planners (World Trade Organization) put us on a path to being a “service driven” economy.

The road to a “service-driven economy” is paved with a great disparity between financial classes. The wealth gap is directly related to the inability of the middle-class to thrive.

Elite financial interests, including those within Washington DC, gain wealth and power, the U.S. workforce is reduced to servitude, “service”, of their affluent needs.

The destruction of the U.S. industrial and manufacturing base is EXACTLY WHY the wealth gap has exploded in the past 30 years.

(more…)

The ADP private sector payroll report [link here] reflects continued rapid recovery from the regional COVID-19 shutdowns. The monthly report shows gains of 749,000 jobs, exceeding the expected 650,000 forecast.

One of the key factors is the expiration of the disincentive via the federal COVID unemployment mechanism that provided an additional $600/month beyond normal earnings in the unemployment package. This has been a topic of many coversations in my travels as working-class businesses have been having a hard time getting people to return to work.  (more on that below)

(Reuters) Private payrolls increased by 749,000 jobs this month after rising 481,000 in August, the ADP National Employment Report showed. Economists polled by Reuters had forecast private payrolls would rise by 650,000 in September. Employment gains were spread across all industries and company size.

(more…)

When Commerce Secretary Wilbur Ross appears… PAY ATTENTION.  In this interview Secretary Ross outlines an announcement today [LINK HERE] about the U.S. will block Chinese owned WeChat, and additional security measures against TikTok.

COMMERCE – […] While the threats posed by WeChat and TikTok are not identical, they are similar. Each collects vast swaths of data from users, including network activity, location data, and browsing and search histories. Each is an active participant in China’s civil-military fusion and is subject to mandatory cooperation with the intelligence services of the CCP. This combination results in the use of WeChat and TikTok creating unacceptable risks to our national security. (more)

Additionally, Secretary Ross discusses sector-specific relief for the airline industry and U.S. farmers. On the farmer side we should all remember any confrontation with Beijing could lead to China pulling back from purchase agreements. China cannot feed itself and is dependent on imported food products, so the scale of any pull-back is not known.

DETAILS – In response to President Trump’s Executive Orders signed August 6, 2020, the Department of Commerce (Commerce) today announced prohibitions on transactions relating to mobile applications (apps) WeChat and TikTok to safeguard the national security of the United States.

(more…)

Those who have followed the Trump administration’s decoupling strategy will note the potential conflict from within this approach is a ‘nothing to lose’ proposition from Donald Trump’s perspective.

The Trump administration announced today the Department of Homeland Security, via U.S. Customs and Border Patrol, are about to start blocking the import of products from five specific entities in western China’s Xinjiang region.  The objective is to block products that come from forced Uighur labor in Xinjiang, China.

The authority comes from U.S. “Withhold Release Orders” (WRO’s) that allows U.S. Customs and Border Protection to detain shipments based on suspicion of forced-labor involvement under long-standing U.S. laws to combat human trafficking, child labor and other human rights abuses.  Ken Cuccinelli explains to Lou Dobbs.

.

At first blush this might seem detrimental to the objectives of the U.S-China Phase-One trade deal. However, if you have followed the decoupling process closely; including the warnings given by Trump to U.S. multinationals; you will note there is no specific downside to this confrontation.

(more…)

White House Senior Trade and Manufacturing Policy Advisor, Peter Navarro, appears with Maria Bartiromo to discuss the ongoing white house economic policy to continue recovering American jobs and manufacturing.  Additionally, Navarro discusses the China conflict of interest carried by the Biden campaign.

(more…)

A fifteen year argument is finally over…. We win.  Most CTH readers probably don’t even remember the reason for the name: “The Last Refuge” upon this little corner of the internet.  However, for well over a decade we have tried to share the truth behind the financial mechanisms that run Washington DC; and the primary machine has always been a completely corrupt, deceptive and anti-American U.S. Chamber of Commerce.

Against the entirety of the conservative media; and against the entirety of every organized group that ever attended CPAC; this website has attempted to educate people about the genuinely fraudulent purposes of the U.S. CoC and their President Tom Donohue.  I have written hundreds of articles over the years outlining “there are trillions at stake” and the elements of importance behind that statement.   Every single mainstream conservative voice has denied the truth; and likely most of them are probably on the CoC payroll.

Every former administration took massive payments from the CoC and allowed the Chamber to write trade agreements language for decades.  The CoC business model was to take payments from Wall Street multinationals and then write the agreements to their benefit.  Politicians were paid to keep quiet and support the CoC.  The chamber is the largest lobby organization in DC.  The chamber spends more money on influence than any other lobbying group by a massive amount.  The CoC is at the heart of DC corruption.

President Trump knew about the CoC business model; that’s why he never allowed them a seat at the ‘America First’ table.  That was the original source of our support for candidate Donald Trump.  And now, after a decade of our trying to highlight the CoC scheme and the reason for it; yesterday, the U.S. Chamber dropped their pretense and admitted they were now supporting democrats because the CoC effort can only succeed by destroying Main St.

WASHINGTON DC – The U.S. Chamber of Commerce is poised to endorse nearly two dozen freshmen House Democrats for reelection, triggering a revolt within the right-leaning organization and drawing fierce push-back from the group’s powerful GOP donors.

(more…)

United States Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and China’s Vice-Premier Liu He release a joint statement showing renewed emphasis on phase-1 purchases.

Washington, DC – Ambassador Lighthizer and Secretary Mnuchin participated in a regularly scheduled call this evening with China’s Vice Premier Liu He to discuss implementation of the historic Phase One Agreement between the United States and China. The parties addressed steps that China has taken to effectuate structural changes called for by the Agreement that will ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture, and eliminate forced technology transfer.

(more…)

Keep an eye open for information related to President Trump shifting the economic dynamic in the late summer and fall as he takes a more intense approach toward those who have acted against U.S. interests.  One such example is a restart of 10% tariffs on Canadian aluminum effective August 16th.

WHITE HOUSE – […] The Secretary has now advised me that imports of non-alloyed unwrought aluminum from Canada, which accounted for 59 percent of total aluminum imports from Canada during June 2019 through May 2020, increased substantially in the twelve months following my decision to exclude, on a long-term basis, Canada from the tariff proclaimed in Proclamation 9704.

Imports of non-alloyed unwrought aluminum from Canada during June 2019 through May 2020 increased 87 percent compared to the prior twelve-month period and exceeded the volume of any full calendar year in the previous decade. Moreover, imports of these articles from Canada continue to increase, reaching in June of this year the highest level of any month since I decided to adjust imports of aluminum articles in Proclamation 9704.

(more…)

The Bureau of Labor Statistics released the July jobs report earlier this morning.  Overall during this phase of the economic recovery the U.S. added 1.8 million jobs in July, with strong recovery in: Leisure and Hospitality (+592k), Retail Trade (+258k) and professional and business services (+170k).  [Full Report Here]

Strong steady gains continue in manufacturing, construction and transportation as more businesses begin to re-open and provide products and services into an economy with strong underlying demand.  Durable goods inventories are low, those need to be replaced.

(more…)

Well done Team U.S.A.

This is a very significant trade development as it is the culmination of a lot background work and a trilateral trade alliance based on economic nationalism. The U.S, Japan and India have been working on the Indo-Pacific trade reset for several years.

Prime Minister Shinzo Abe and President Trump already sealed their component.  Now it appears India and the U.S. have reached terms. Very important. First, the report:

NEW DELHI (Reuters) – India and the United States are closing in on a trade deal, India’s Commerce Minister Piyush Goyal said on Tuesday, after two years of negotiations.

“In the long term, I believe we have a quick trade deal which has some of the pending matters built up over the last couple of years, which we need to get out of the way quickly. We are almost there,” Goyal said at the U.S.-India Business Council’s India Ideas Summit, being conducted virtually.

(more…)