Chopper pressers are the best pressers; even when they are from the tarmac at LAX in California.  Moments ago President Donald Trump talked to the press pool with his newly named national security adviser, Robert O’Brien.  [Video below Transcript ADDED]

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[Transcript] – THE PRESIDENT: Thank you very much. We’re with Robert O’Brien, who, as you know, is the new National Security Advisor. He’s worked with me for quite a while now on hostages, and we’ve had a tremendous track record with respect to hostages. Robert can tell you about it.

But we brought a lot of people back home and we haven’t spent any money. So, that’s good, because you can’t do the money thing. If you do the money thing, all of a sudden it will double and triple and quadruple. You’ll say, “What’s going on?”

So, Robert has been fantastic. We know each other well. And maybe, Robert, say a few words. Please.

AMBASSADOR O’BRIEN: Great. Thank you. Look, it’s a privilege to serve with the President and to — and we look forward to another year and a half of peace through strength. We’ve had tremendous foreign policy successes under President Trump’s leadership. I expect those to continue.

We’ve got a number of challenges, but there’s a great team in place with Secretary Pompeo and Secretary Esper, Secretary Mnuchin, and others. And I look forward to working with them and working with the President to keep America safe and continue to rebuild our military and really get us back to a peace-through-strength posture that will keep the American people safe from the many challenges around the world today.

Q Mr. O’Brien, what advice do you have for the President about the situation in Saudi Arabia and any possible military strike on Iran?

AMBASSADOR O’BRIEN: Yeah, so we’re looking at those issues now and getting briefed up. And I think Secretary Pompeo is in Saudi Arabia now or is just coming home. And any advice that I give the President will be something I give him confidentially. But we’re monitoring that situation closely.

Q And, Mr. President, any update on your thinking?

THE PRESIDENT: Yeah, I have nothing to report yet. We’ll probably be speaking to you tomorrow, maybe the next day. But nothing to report. But it hasn’t changed very much. I think my thinking pretty much remains the same. And we haven’t learned much that we didn’t know. But there is — there is a certain — a guarantee factor. We’re really at a point now where we know very much what happened.

Yes.

Q Lindsey Graham said sanctions aren’t enough. Will you do more on Iran?

THE PRESIDENT: We’ll see what happens. We’ll see. You’ll watch.

Peter.

Q Mr. President, should Rouhani come to New York next week?

THE PRESIDENT: Excuse me?

Q Should President Rouhani come to New York next week for (inaudible)?

THE PRESIDENT: I really don’t know. I really don’t know. That’s up to him. I mean, I’m — it’s not up to me. It’s up to him. We’ll see what happens.

Q (Inaudible) visas from Iranians to come?

THE PRESIDENT: Well, we’re going to see what happens. I would let them come. If it was up to me, I would let them come.

I’ve always felt the United Nations is very important. I think it’s got tremendous potential. I don’t think it’s ever lived up to the potential it has, but I would certainly not want to keep people out if they want to come. So, that would be up to them.

Q (Inaudible) Senator Graham, who said that the failure to strike Iran this summer was a sign of — taken by Iran as a sign of weakness?

THE PRESIDENT: No, I actually think it’s a sign of strength. We have the strongest military in the world now. And I think it’s a great sign of strength. It’s very easy to attack.

But if you ask Lindsey, ask him: How did going into the Middle East — how did that work out? And how did going in Iraq work out?

So, we have a disagreement on that. And, you know, there’s plenty of time to do some dastardly things. It’s very easy to start. And we’ll see what happens. We’ll see what happens.

I think we have a lot of good capital. If we have to do something, we’ll do it without hesitation.

Q Mr. President, do you agree with the Secretary — Mr. Pompeo — that the attacks in Saudi were an “act of war”? And if so, what’s the response on the U.S. end?

THE PRESIDENT: He just came out with a statement. He spoke to me a little while ago. And we’ll have an announcement. Okay?

Q What does Mr. O’Brien bring to the table that you were looking for that maybe you didn’t get through Mr. Bolton?

THE PRESIDENT: It’s very interesting. Mr. O’Brien is highly respected. He was highly respected by so many people that I didn’t even know really knew him. He did a tremendous job on hostage negotiation — really tremendous, like unparalleled. We’ve had tremendous success in that regard. Brought home many people. And through hostage negotiation, I got to know him very well myself. But also, a lot of people that I respect rated him as their absolute, number-one choice.

So, you know, I think we have a very good chemistry together, and I think we’re going to have a great relationship. He is a very talented man.

Q Mr. President, would you raise more sanctions on Iran today?

THE PRESIDENT: I did.

Q Would you announce more sanctions on Iran? What will they include?

THE PRESIDENT: We’ll be adding some very significant sanctions onto Iran.

Q And what will they include, sir?

THE PRESIDENT: We’ll be announcing it over the next 48 hours.

Q And you said that there will be a further announcement on Iran. Are you looking at a military strike?

THE PRESIDENT: We’ll see what happens.

Q What are the options, Mr. President, that you’re considering? You just said that there were some very bad things you’re thinking about.

THE PRESIDENT: Well, there are many options, as you know, Phil. There are many options. And there’s the ultimate option, and there are options that are a lot less than that. And we’ll see. We’re in a very powerful position. Right now, we’re in a very, very powerful position.

Q When you say “the ultimate option,” are you talking about a nuclear strike?

THE PRESIDENT: No, I’m saying “the ultimate option,” meaning go in — war. No, I’m not talking about — I’m not talking about that ultimate option. No.

Q Okay.

THE PRESIDENT: Right?

Q How do you see the role of National Security Advisor changing with Mr. O’Brien?

THE PRESIDENT: I think it’s a very important role. It’s really a role that, if the President respects the person that’s the advisor, I think it really plays a very, very important role.

Okay? Thank you. Peter, thank you.

Q You’re heading to the border today?

THE PRESIDENT: We’re going to the border later. Are you all with me?

Q Yes.

THE PRESIDENT: We’re going to show you a lot of wall. We’re building a lot of wall. We won the big case and a couple of other cases, as you know. We’re building a lot of wall.

So, we’ll be talking. We’ll be talking to you later on. Okay?

Q Have you spoken to Netanyahu?

THE PRESIDENT: I have not. Those results are coming in, and it’s very close. Do you have any updates? Any updates? Because you people usually should know before the President, right?

Q Are you suspicious at all about the results?

THE PRESIDENT: No, I’m not. No, I’m not. Everybody knew it was going to be very close, and we’ll see what happens. And, look, our relationship is with Israel. We’ll see what happens.

Thank you. Thank you everybody.

END 10:41 A.M. PDT

Housing starts (and permits) have been a long-term key performance indicator for the economic stability and strength of Main Street USA for generations. Across all key metrics, the economics of middle-class America is defined by confidence in housing. A strong housing market reflects worker/purchaser confidence in their economic position.

The U.S. Commerce Department reports today that U.S. housing starts and permits has reached a 12-year-high. [data here] This is a key point because it cuts to the heart of the difference between a thriving Main Street economy and the disconnect surrounding issues with Wall Street (multinational) financial markets.

WASHINGTON (Reuters) – U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction accelerated, suggesting that lower mortgage rates were finally providing a boost to the struggling housing market.

The report from the Commerce Department on Wednesday also showed permits for future home construction rose to levels last seen in 2007. Housing and manufacturing have been the weak spots in the economy, which is now in its 11th year of expansion, the longest in history.

The jump in home-building activity last month added to strong retail sales data in suggesting the economy continues to grow moderately and is probably not flirting with a recession as has been flagged by financial markets. (read more)

Housing lags behind other jumps in retail sales because housing is the biggest financial commitment made by U.S. workers.  A new home purchase, first purchase or upgrade, is the biggest decision for most American workers and families.   Since President Trump took office wages and worker benefits have increased substantially; more than a million people have now moved into the middle-class.

Again, for emphasis, there are two distinct economic metrics that are disconnected and intentionally conflated by Wall Street pundits, financial media and political opportunists therein who speak through the prism of economics.   The Main Street economy is thriving; the Wall Street financial economy -heavily influenced by multinational investment- is not thriving.

The two economic engines (Wall St. -vs- Main St.) were decoupled by corporate political influence, over U.S. economic policy, 30-years ago.  Wall Street is a paper financial market influenced by U.S. multinational interests.  Main Street is a blue-collar market influenced by the internal strength of the U.S. consumer, workers, wages and internal U.S. dynamics.

President Trump’s MAGAnomic policy is structured to the benefit of Main Street.  Real investment by domestic companies providing American jobs taking place inside the U.S.  The results of focusing on America First, generates more domestic jobs, a larger demand for U.S. workers, pressure on higher wages & subsequent increased consumer spending.   Homes and home purchases are an outcome of that internal economic strength.

The global market can, and likely will, retract.  The gains or losses of investment markets are not necessarily attached to Main Street outcomes. Wall Street overseas investments have less value when economic policy directs majority benefit to Main Street.  However, isolated from the external investment issue, the U.S. Main Street economy can simultaneously thrive due to growth internally within the domestic U.S. economy.

Robert C O’Brien (pictured left) is currently the State Department’s special presidential envoy for hostage affairs.  A founding partner of the Los Angeles-based law firm Larson O’Brien.

NYT – Mr. O’Brien served with Mr. Bolton when he was President George W. Bush’s ambassador to the United Nations and has advised Republican candidates like Mitt Romney, Scott Walker and Ted Cruz. In both the Bush and Obama administrations, Mr. O’Brien worked on an initiative to train lawyers and judges in Afghanistan.  (link)

People describe O’Brien as similar to his friend John Bolton without the virulent twitchy trigger finger. In his capacity as special envoy for hostage affairs, O’Brien wrote a letter to Swedish prosecutors urging them to release A$AP Rocky.  According to CBS O’Brien’s work “on Rocky’s case endeared him to Jared Kushner, the president’s son-in-law and one of his top advisers.”

CBS’s Margaret Brennan gives a good outline here: