President Trump delivers remarks during “Our Pledge to America’s Workers,” at the the White House.  Anticipated start time 2:30pm EST
UPDATE: Video Added

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More fantastic MAGAnomic numbers today to bolster the great news from yesterday.  ADP/Moody’s private payroll analysis shows 227,000 jobs gained in October, and September’s revised actual payroll numbers increased from 218k to 230k.
The ADP hiring analysis reflects continued strong jobs growth across the U.S. with private sector employment increasing by 227,000 jobs in October.  This exceeds the earlier projections where analysts were expecting 189,000 new jobs added during the month.

The October payroll increase was the highest since February 2018.   Additionally, the Bureau of Labor Statistics released their latest employment cost summary today showing overall wage growth in September of 2.8% year-over-year.
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First the wonky stuff.  The Conference Board Consumer Confidence Index (CBCCI) has jumped again for October and now measures the highest current sentiment among consumers since 2000.   The CCI now stands at 137.9 (1985=100), up from 135.3 in September.   Additionally, the future outlook of consumers, known as the “Expectations Index” (consumers’ short-term outlook for income, business and labor market conditions) increased from 112.5 last month to 114.6 this month.  More DATA winnamins.
What does that mean?  Well, it means middle-America feels GREAT about now, next week, next month, and well into next year.  Additionally, now that the winnamins are starting to catch up to them, the pontificating wonkified actuaries will begin to project a splendidly “strong” holiday season.  Duh!  They’re always playing catch-up. LOL.

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The key to understanding MAGAnomics is to focus on the middle-class.  If the middle-class is thriving and doing well, all of the economic indicators will tell the same story.  MAGAnomic benefactors (ordinary working people outside the investment class) are scantly impacted by the Stock Market.
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House Ways and Means Committee Chairman Kevin Brady discusses the current economic growth and the GOP policy initiatives behind tax proposals.
Chairman Brady emphasizes an intent to make the current middle-class tax cuts permanent in the next legislative session if Republicans can do well in the midterm election.  One of the benefits from previously ‘unexpected’ (by CBO) MAGAnomic growth is the baseline calculations for ‘revenue neutral’ did not factor in the current GDP growth rate.  [All previous Congressional Budget Office forecasts were underestimated.]
As Rep Brady outlines President Trump is committed to empowering Main Street, not Wall Street, as the driving force behind U.S. economic growth. [The essence of MAGAnomics.]  Every.Single.Trump.Policy targets support to Main Street. Period.

The Commerce Department, Bureau of Economic Analysis (BEA), has released the first estimate of the third quarter GDP growth for June, July and August 2018 (full pdf below).  The rate of economic growth in Q3 is estimated at 3.5%, exceeding most forecasts of slightly more than three percent.  The second quarter growth was 4.2%.
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Senator Ron Johnson is Chairman of the Senate Homeland Security Committee with direct oversight over the Department of Homeland Security.  Chairman Johnson is interviewed by Maria Bartiromo on current events including the Central American migrant caravan moving toward the southern U.S. border; and the vulnerabilities with Chinese cyber-hacking.

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The Commerce Department, Bureau of Economic Analysis (BEA), has released the first estimate of the third quarter GDP growth for June, July and August 2018 (full pdf below).  The rate of economic growth in Q3 is estimated at 3.5%, exceeding most forecasts of slightly more than three percent.  The second quarter growth was 4.2%.

“Defying ‘conventional wisdom’ once again, 3.5 percent growth is the latest sign that the Trump economy continues to surge,” said Secretary of Commerce Wilbur Ross. “The President’s actions from deregulation to tax reform have supercharged the American economy, driving it to new heights.”

Overall the 3.5% growth is exceptionally strong.  To see the data bolstering a positive future forecast I would draw attention to Table 2 (lines 43 through 49) and the analysis for net impact over Exports/Imports.  The heavy import number delivered a net subtraction of 1.78% from GDP growth; that’s a result of a large increase in imported durable goods [likely anticipatory holiday inventory buildup].

As you can imagine from your own shopping experiences, durable goods inventories generally climb in the third quarter as companies increase inventory in preparation for holiday sales in quarter four.  The growth in the buildup of this inventory is significantly higher than historic trend; this means companies are forecasting strong consumer demand for goods in Q4, the holiday season.
Further support for a booming Q4 purchase prediction can be found in the current 4% growth of consumer spending.  With wages growing (3.8% avg), and with an incredibly strong jobs market, people are making large purchases with confidence.  Additionally, price data in the current GDP report shows inflation at a 1.6 percent annualized pace.
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Earlier today President Trump delivered remarks at the U.S. Department of Health and Human Services about ongoing efforts to lower the cost of prescription drugs.  Introducing a new set of HHS and FDA pharmaceutical reforms.  Excellent initiative.

[Transcript] U.S. Dept of HHS – 2:14 P.M. EDT – THE PRESIDENT:  Thank you very much.  Thank you.  It’s a big day.  It’s a very important day.  (Applause.)  Thank you.  Please.
Thank you very much, Secretary Azar, for your tremendous leadership.  This really is an important day for me.  I’ve been talking about drug price reductions for a long time.  And now we’re doing things that nobody was, let’s say — because I’m speaking on behalf of all of us — bold enough to do.  And they’re going to have a tremendous impact.
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Well, there it is.  Quietly within the deliberate words from Vice-President Mike Pence a revelation that explains the origination of the Central American invasion force.  For those who are not deep in the geopolitical weeds, the subtlety can pass unnoticed; for those who travel within the deepest international conflicts, Pence’s words here are as subtle as a brick through a window:

[…] “Financed by Venezuela; and sent North to challenge our sovereignty and our border”…

[wpvideo tXWLlFMs]
Announcing the migrant caravan is “financed by Venezuela” is a direct notification the Central American invasion force is being funded by Russia and China.  Venezuela doesn’t have any money to sustain its own operational government – let alone a 10,000 person convoy.  Venezuela is entirely reliant upon massive investment from Russia and China.
In fact China owns 49% of Venezuela’s state run PDVSA energy production. A collateral system where Beijing takes oil as payment for prior loans the Maduro regime cannot pay back.  With the crippling treasury department sanctions President Trump put on Venezuela last year, Trump has punched Maduro and Xi-Jinping hard.
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President Trump delivers remarks during a meeting between federal and state leaders. The conference is held to emphasize coordination between federal officials and their direct contacts at the state level.

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Senator Lindsey Graham discusses the death of Saudi critic Jamal Khashoggi and the response from the Kingdom of Saudi Arabia.

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