President Trump delivers opening remarks to celebrate Made in The USA manufacturing week, a presidential initiative.
Sometimes we just sits and thinks… and sometimes we just thinks and laughs… This truly is the greatest of times to be alive and engaged. All, because, Trump stuff.
After reminding ourselves there’s no longer an actual media apparatus (per se’) in the historic sense of assembling facts, just facts, that explain situations; we once again see a brutal example of an answer to a simple economic question ignored by media.
Yesterday, within a MAGAnomics discussion thread, the question was asked:
♦ How long do you think the Chinese economy can sustain itself? When will it run out of steam? Could you maybe add some meat to the bone of what a trade war may look like with China, in terms of what we can expect to happen?
My own reply was rather simplistic:
♦ A trade confrontation with China will remove the cloak of capitalism and show the true colors of totalitarian control behind the Chinese economic mask. Confronting China’s Oz, economically, is simply sending in Toto (Wilbur Ross) to pull back the curtain. Easy peasy.
As if on cue… here comes Xi Jinping to deliver the audio visual demonstration. (more…)
OMB Director Mick Mulvaney has an explanatory outline, promoted by the White House, explaining the administration’s economic principles: “MAGAnomics”.
Introducing MAGAnomics
By Mick Mulvaney – Wall Street Journal – July 13, 2017
If the Trump administration has one overarching goal, it’s to Make America Great Again. But what does this mean? It means we are promoting MAGAnomics—and that means sustained 3% economic growth.
For most of our nation’s modern history, a healthy American economy meant one that grew at roughly 3.5%. That was the average growth rate between the late 1940s and 2007. Since then, it has hardly topped 2%.
The difference between those two growth rates is staggering. If the American economy had grown at only 2% between the end of World War II and 2000, average household income would have been roughly $26,000 instead of $50,000.
(more…)
In 2016 CTH first predicted the intellectual economic disconnect that would arise out of the paradigm shift in economic principles. Initially I called it “the economic third dimension” – SEE HERE.
As time progressed through the second fiscal quarter of 2017 (Jan-March) again, we noted how the Federal Reserve was exactly failing to understand this “third dimension”; the space between Wall Street and Main Street fiscal policy – SEE HERE.
Finally today, for the first time, we see a federal reserve voting official begin to question the underlying economic assumptions of the Fed. Federal Reserve Bank of Chicago President Charles Evans is the first federal official to identify the disconnect between federal economic policy and actual economic outcomes:
WASHINGTON – […] Inflation has run below the Fed’s 2 percent target over the past eight years, Federal Reserve Bank of Chicago President Charles Evans noted.
“This is a serious policy outcome miss,” he said in remarks prepared for a conference in Idaho.
[…] Even as inflation has tumbled this year, Fed officials have brushed it off, indicating that they believe that one-off factors are keeping prices low. Those include cellphone service prices cratering because of carriers bidding to offer unlimited data plans. Fed Chairwoman Janet Yellen and others have suggested that inflation is likely to head back up after those temporary price drops slow overall prices.
Wow. Sorry to drop so much substance into a single news day, but there’s so much going on around the geopolitical world it’s, well, stunning.
[And we still haven’t been able to even catch up with T-Rex’s multi-nation shuttle diplomacy over Qatar yet…. sheesh. –> CLICK HERE FOR QUICKIE LOL]
U.S. State Department spokesperson Heather Nauert delivers a press briefing to highlight a great deal of what is going on. Video and Transcript below:
U.S. Treasury Secretary Steven Mnuchin appears on This Week with democrat swamp guardian George Stephanopoulos. Once again it takes half the interview to get past the Russia, Russia, Russia narrative to the larger more substantive issues of Trade Policy, Tax Reform, Budgets, Debt and Healthcare.
First Lady Melania Trump wore a purposeful red jacket today as she was seated at the G20 during President Trump’s remarks to the summit leaders with Chinese President Xi Jinping seated next to him.
While in Warsaw Poland last Thursday President Trump was asked about possible action against North Korea:
“I have some pretty severe things we’re thinking about. Doesn’t mean we’re going to do them. I don’t draw red lines.” … “It’s a shame they’re behaving this way and they’re behaving in a very dangerous manner, and something will have to be done about it.” (link)
Today during a bilateral meeting with China’s President Xi Jinping President Trump reinforced the message:
President Trump, at the start of his meeting Saturday in Germany with Chinese President Xi Jinping, called the Asian nation a “great trading partner” and said the increasing North Korea nuclear threat will eventually be resolved “one way or the other.” (link)
The left-wing media are trying desperately to put their best-face-spin on their concessions to President Trump surrounding climate change and free/fair trade provisions included within the G20 Communique.
However, the verbiage directly and specifically paves the way for the U.S. team to begin leveraging economic market power with unilateral trade agreements.
Hamburg (AFP) – US President Donald Trump won key concessions on climate and trade Saturday from world leaders at the most fractious G20 summit to date, in exchange for preserving the unity of the club of major industrialised and emerging economies.
In a final statement agreed by all 20 economies, 19 members including Russia, China and the European Union acknowledged Trump’s decision to go his own way on taking the US out of the 2015 Paris climate accord.
The upcoming NAFTA trade discussions between the U.S., Mexico and Canada will be more interesting, and far more consequential, than any trilateral trade discussion in our lifetime. We can anticipate dozens of congressional masks to drop each day as the tentacles of their financial interests and corporate donors will gain a level of sunlight never before seen.
For the first time in our lifetime the corporatist’s within the U.S. CoC lobby will be neutered, and Republicans owned by Wall Street will have no choice but to openly rail against America while embracing their friends in the MSM.
White House – President Donald J. Trump met today with President Enrique Peña Nieto of Mexico during the G20 Summit in Hamburg, Germany. President Trump emphasized the strong bilateral relationship that the United States enjoys with Mexico and noted the importance of renegotiating NAFTA to help workers in both countries.
President Trump thanked President Peña Nieto for Mexico’s partnership on the Central America Conference last month. The leaders also discussed regional challenges, including drug trafficking, illegal migration, and the crisis in Venezuela. (link)
Video Below
Secretary of State Rex Tillerson and Treasury Secretary Steven Mnuchin outline the past 48 hours of diplomatic discussions within the framework of the G20.
**Remember** as you read this transcript, e.v.e.r.y.t.h.i.n.g eventually boils down to economics and the seismic geopolitical shifts currently underway. (See Bottom for Important Detail)
[Transcript] 7:18 P.M. CET – SECRETARY MNUCHIN: Hi, everybody. I just want to highlight very briefly, and then Secretary Tillerson will go on, and then afterwards we’ll both answer a few questions.
But President Trump has had a very, very significant few days. I think, as you know, we went to Poland on Wednesday. In Poland, he met with 12 different leaders. We had bilats with Croatia and with Poland, as well as 10 other leaders at the Three Seas Conference where we talked about energy — the importance of the energy markets, the importance of supplying independent energy, infrastructure and opportunities there. I think, as you know, the speech which was just incredibly well-received, is part of our “America First But America Not Alone.”