Shortly before the president signed an executive order on affirming first amendment rights on college campuses yesterday, President Trump sat down for an extensive interview with Maria Bartiromo.
The interview covers a wide range of topics with a primary focus on the U.S. economy, ongoing trade discussions and issues that impact the U.S. workforce. One of the granular issues that surfaces is a subject we discuss frequently, the value of the ‘chicken tax‘; the 25% tariff on imported trucks and SUV’s.   WATCH:

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LOL, an interesting albeit typically lighthearted discussion with CEA Chairman Kevin Hassett on the budget proposal and status of U.S.T.R trade talks with China.

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National Security Adviser John Bolton appears with Maria Bartiromo to discuss recent reports that Kim Jong-un is moving toward more nuclear testing.
Obviously that discussion moves quickly into the influence of China and Chairman Xi Jinping.
The frustrating question no-one ever seems to ask is not “if” China controls the DPRK government, but rather “to what extent”?
It has become more obvious in the past few years that North Korea’s Chairman Kim Jong-un has much less control over officials and military leadership within his own government than previously thought.
Does Chairman Xi and Beijing structurally control everything around Kim? Is Kim a hostage; forced to ride a dragon he doesn’t control?  I think the answer is yes.

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Once people start to realize that China controls North Korea as a proxy province, then the discussion can evolve toward the true nature of the challenge, and the way President Trump is precariously negotiating a hostage release while refusing to pay the ransom.
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The White House has announced that Brazil’s President Jair Bolsonaro will visit with President Trump on March 19th for bilateral discussions.  The media are framing the visit around the ongoing crisis within Venezuela; however, there’s also an important element as it relates to the panda dance.
President Donald Trump and President Jair Bolsonaro both have a strong nationalist perspective and share a common geopolitical outlook.
In fact, during the 2018 election many dubbed Bolsonaro the ‘Brazilian Trump‘.  President Bolsonaro also made headlines last year when he said he was open to a U.S. military base and alliance.
Yes, it’s true the turmoil in Venezuela is a likely top issue for discussion, but the U.S. and Brazil are now aligned with a commonality toward China…. and it just so happens the U.S. and Brazil are #1 and #2 in production of China’s number one import, soy beans.
China has an almost unquenchable thirst for soybeans, which are crushed to make cooking oil and used in the protein-rich animal feed ingredient soymeal.  The U.S. is the worlds largest producer of soybeans at 108 million metric tonnes. Brazil is the second largest producer with around 87 million metric tonnes.
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National Economic Council Director Larry Kudlow discusses the February jobs report, wage gains, stimulus from the European Central Bank, and President Trump’s ongoing trade confrontation with China.  [Solid Interview]
Chairman Kudlow notes some interesting dynamics at play including the recent National Household employment survey which showed 225k additional workers resulting in a drop in the overall unemployment statistics to 3.8%

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Additionally, the globalist-minded Wall Street crowd are disappointed that a March summit between Chairman Xi and President Trump has been scuttled. In aggregate terms, this cancellation backdrops USTR Robert Lighthizer’s strong granular demands of the Chinese delegation toward contractual enforcement terms. It is most likely Chairman Xi is not happy with the feedback he is receiving from his team. Too bad.
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The BLS employment report for February is very underwhelming with a mere 20,000 new jobs calculated and results that fall far short of expectations.  The recent private sector ADP payroll report showed 183,000 gains.  Despite the low reported jobs gains, the national unemployment number dropped to 3.8%.
Further confounding the low February BLS calculations, revisions to December and January were upward. December’s jobs were revised up from +222,000 to +227,000 (gaining 5k), and the change for January was revised up from +304,000 to +311,000 (+7k). With these revisions, employment gains in December and January combined were 12,000 more than previously reported. Job gains now average 186,000 per month over the last three months.
On a very positive note the calculated wage growth continues to reflect a tight labor market where employers are increasing wages well beyond inflation. “In February, average hourly earnings for all employees on private nonfarm payrolls rose by 11 cents to $27.66, following a 2-cent gain in January. Over the year, average hourly earnings have increased by 3.4 percent.” That is the strongest sustained wage growth in a decade.

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Economic analysis can get weedy…. so a simple way to look at productivity is to think about baking bread in your kitchen.
If you were going to bake 4 loaves of bread it might take you 2 hrs start to finish. However, if you were going to bake 8 loaves of bread it would not take you twice as long because most of the tasks can be accomplished with simple increases in batch size, and only minor increases in labor time. Your productivity measured in the last four loaves is higher.
Economic Productivity is measured much the same way, within what’s called a production probability equation. Additionally, if two hours of your time are worth $40, each of four loaves of bread costs $10; but if you make 8 loaves in the same amount of time the labor cost is only $5/per loaf.
From 2007 through 2017 the average rate of productivity increase was 1.3%. In the fourth quarter of 2018 productivity was 1.9%.  That means total business output increased as more product was demanded from within the business operation. Throughout the economy people just wanted more stuff.  However, the most important numbers for MAGAnomics (Main Street USA) center around manufacturing and durable goods.
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White House trade adviser Peter Navarro has been a core member of the U.S. trade team providing a brutally honest perspective toward how specific trade engagements can directly benefit the U.S. economy and U.S. worker.
Navarro has gained a reputation as a trade hawk, specifically as it relates to confronting the one-sided trade schemes of China.  However, that encapsulation doesn’t accurately reflect Mr. Navarro’s value.
The Big Club hates him.  Yes, Navarro is hated and opposed by all the right people.  He might be rough around the edges, but he fights… for ‘America First‘.
Navarro is unapologetic in openly calling attention to the process where Wall Street, the multinationals (corporations and banks) have gained power and influence over politicians in Washington DC.  Wall Street funnels hundreds-of-millions to Tom Dohohue, President of the U.S. Chamber of Commerce.  Donohue controls an army of K-Street lobbyists who purchase politicians and sell their CoC created legislation.
Specifically because he calls attention to the brutal truth of a corrupt process, he has become the target of attacks from Wall Street’s beneficiaries, the big club and Decepticon senators who take massive campaign bribes from Tom Donohue.
In a recent Op-ed, Peter Navarro highlights how the Trump economic team is delivering on a promise for structural global trade reform that directly benefits the U.S. economy, U.S. workers, and Main Street USA.
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U.S. Trade Rep Robert Lighthizer’s work on the U.S-China trade negotiations is easily the most technically challenging and legally complex trade deal in the history of U.S. Commerce.
Lighthizer is not focused on selling more U.S. product, he is focused on bigger issues and enforcement therein.
Think about it.  This is a deal between a U.S. open market economy and a communist controlled closed market economy in China.  No nation has a comprehensive trade deal with China on anything except individual business sectors.
Despite China’s entry into the World Trade Organization, no nation has ever achieved anything close to an aggregate FTA (Free Trade Agreement) with China.  This deal would be the first comprehensive deal, and as such Lighthizer is essentially mapping out an agreement that all other nations could follow….  This is big-league.
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The Canadian government shocked the professional financial and economic media with their latest fourth quarter GDP release showing the economy has essentially come to a grinding halt at 0.1% growth.  [Compare to U.S. GDP growth of 3%]
The Canadian Q4 GDP growth isn’t one percent, it’s one-tenth of one percent: 0.1%, essentially halted; but everyone discussing this is missing something very important.
First, The Financial Post headline:

[FP] Canada’s economy practically came to a halt in the final three months of 2018, in a much deeper-than-expected slowdown that brings the underlying strength of the expansion into doubt.
The country’s economy grew by just 0.1 per cent in the fourth quarter, for an annualized pace of 0.4 per cent, Statistics Canada said Friday from Ottawa. That’s the worst quarterly performance in two and a half years, down from annualized 2 per cent in the third quarter and well below economist expectations for a 1 per cent annualized increase.

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