President Trump recaps the latest strong economic numbers and launches the CMS Digital Health Tech Ecosystem during an event at the White House today. WATCH:
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FED Chairman Jerome Powell announced today the FED Board of Governors is keeping the interest rate at 4.25 to 4.5 percent. The Central Bank of the United States is trying to create an unsustainable debt spiral.
The goal of the FED (Central Bank) is to create a debt spiral that leads to a crisis. This is the way the Central Bank controls the activity of the smaller banks. This is the way the Central Bank keeps control over the people in America. WATCH:
Don’t pretend. Stop being a battered victim to an abusive relationship with government.
President Trump is pumping money into the USA economy through economic growth, tariff revenue, federal govt downsizing, expanded private sector employment and wage growth.
The Central Bankers are trying to drain money from the USA economy through monetary policy and control over the behavior of the smaller regional banks and credit unions.
♦ FED. The Central Bank controls interest rates.
♦ FED. The Central Bank (FED) does not control inflation.
♦ BIG BANKS. The credit creation by institutional banks, the creation of money, does create inflation.
♦ BIG BANKS. Money created by institutional banks does not come from the FED.
♦ BIG BANKS. Money created by institutional banks, via credit creation for asset purchases, creates inflation.
♦ BIG BANKS. Money created by institutional banks via credit creation for consumer spending (loans and credit cards), creates inflation.
♦ TRUMP. Money created by regional banks via credit creation for Main Street development, expands GDP, creates revenue and does not create inflation. Additionally, money created by tariff incomes and money delivered by foreign entities to the U.S. treasury for tariff offset purchases, do not create inflation.
The FED, representing the USA Central Bank and the interests of the BIG BANKS, are trying to create a massive debt spiral by keeping the interest rates high and making service on the debt unsustainable.
President Trump, representing Main Street USA, is fighting against the interests of the BIG BANKS, and trying to create revenue to avoid the debt spiral the FED is trying to create.
That’s the non-pretending reality of the situation.
Why does the FED (Central Bank) want to create a debt spiral? Because they want control over the economic activity, which includes the destruction of the smaller regional banks and credit unions who are funding the Main Street economy.
The Cental Bank want’s full control.
What the U.S. Marshalls are to the Judicial Branch; the FBI is to the DC system, and the CIA are to the bankers.
Too funny. The economic pretending is so strong almost every outlet leads the Gross Domestic Product news release by saying “better than expected.” Duh! The Bureau of Economic Analysis (BEA) releases the GDP date for the second quarter (Q2) and shows a 3.0% jump in economic growth.
We say “duh”, because it was an entirely predictable result. Why, because imports are a deduction to the GDP equation and imports dropped 30.3% in the second quarter (Table 1, line 19). We said this was going to happen because there was a surge of imported goods in the first quarter as companies tried to be proactive with orders in advance of tariffs.
That massive influx of imports made the Q1 GDP weak (-0.5%). Conversely, with all those goods delivered in the first quarter, the products were not imported in Q2 and the GDP rebounded. The lack of imports, ultimately the lack of deduction, resulted in a 5.18% positive change to the second quarter GDP (Table 2, line 47).
But wait, the winning doesn’t stop there. Remember, the Big Beautiful Bill just passed in July. That means fixed asset investment is likely to expand in Q3 because 100% expensing on capital investment was part of the BBB.
But wait, there’s more. Annual wages spiked 4.4% — double the rate of inflation (2.1%). That means people are growing their wage incomes twice as fast as prices are rising. Real wage growth is back again! Yes, REAL WAGE GROWTH.
WASHINGTON – Recession? What recession? The US economy bucked nonstop doom-and-gloom by economists — including some at Wall Street’s biggest banks — and reported stronger-than-expected growth in the second quarter, marked by a surge in hiring and wages.
Gross domestic product – the value of all goods and services produced across the US economy – jumped by a seasonally and inflation adjusted 3% in the second quarter, the Commerce Department said Wednesday.
That rebounded from a 0.5% decline in the first quarter and beat estimates of just 2.3% growth. A recession is usually defined by the GDP slipping in two consecutive quarters.
Meanwhile, private employers added 104,000 jobs last month, according to the ADP National Employment Report released Wednesday. That reversed a 23,000 drop in June and exceeded the forecast for an increase of 64,000.
Annual wages spiked 4.4% — well above the rate of inflation, which has remained below 3% despite harping that President Trump’s tariffs would jack up prices.
“Our hiring and pay data are broadly indicative of a healthy economy,” Nela Richardson, ADP’s chief economist, said.
“Employers have grown more optimistic that consumers, the backbone of the economy, will remain resilient.” (more)
This is one of those interviews that simply must be watched in its entirety. It’s long, almost 3 hours, but take the quiet time to watch and absorb the information provided by economist Professor Richard Werner.
Werner discusses something absolutely vital to understand about the nature of economics and the banking system that underpins it. You have often heard me say “there are trillions at stake” when describing the elements aligned against President Trump. Well, Werner gives context to what lies behind those trillions.
Nine years ago, as President Elect Trump won his first election, I wrote about the future of economics and the potential if a Main Street monetary and banking system was created. {GO DEEP} Richard Werner discusses the specific issue of how credit creation by regular banks actually creates money. He’s the first person I have seen speak who really gets it.
There are distinct differences between banks creating money for asset purchases (inflation), consumer purchases (inflation) and GDP growth (Main Street expansion). He simply nails it, and that is why he was put on the CIA radar.
When Werner speaks of the need for two distinct banking systems as a solution to the “inflationary” impact of money created for asset purchases vs GDP growth, he is specifically highlighting the difference between Wall Street money and Main Street money. This, in the largest measure, is exactly why President Trump and Secretary Mnuchin created the dual banking system. This is what led to the global pandemic as a tool to stop President Trump.
I cannot recommend this interview enough. However, don’t sell yourself short. Find a quiet place, quiet time, and take notes as you listen to Richard Werner outline the true and unspoken nature of how money is created.
When you understand what Werner is saying, everything the FED and Central Banks do starts to make sense. WATCH:
Behind what Werner is explaining you will find the motives to oppose President Trump. Werner doesn’t draw the connection to Trump’s policies, but when you hear him outline the history and the problem you will get it.
U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer hold a joint press conference in Stockholm after concluding the third-round of trade talks with Chinese officials.
The discussion and press availability covered U.S-China trade negotiations, economic cooperation and whether President Trump will meet Xi Jinping. Key moments include questions on tariffs, supply chains, and Beijing diplomacy. WATCH:
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Treasury Secretary Bessent notes as the U.S. economy continues strengthening, and as each trade deal with the U.K, Japan, ASEAN nations and Europe have cemented, the talks between the U.S. and China become more substantive.
With each global trade partner agreeing to terms of access to the USA market more pressure is naturally created on China to complete negotiations and affirm their position as supplier to the world’s largest market.
Following the breaking news of the U.S-EU trade deal with Commissioner Ursula von der Leyen, President Trump sits down for an extensive interview with Miranda Devine.
President Trump talks about the trade agreement with the EU in addition to overall perspectives on trade, tariffs and the goals of the America-first economy. Additionally, President Trump talks about immigration challenges, current events and the intelligence documents declassified by Director of National Intelligence Tulsi Gabbard. WATCH:
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President Trump holds a press conference aboard Air Force One en route back to the White House. Currently the press comments are audio only, but will likely have video upon arrival.
President Trump begins his remarks talking about a threat delivered by British Prime Minister Keir Starmer to the state of Israel where the U.K is threatening to recognize a Palestinian state if Israel doesn’t stop the bombing in Gaza and deliver aid to the impacted citizens. LISTEN:
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The terms Ukraine and government corruption are synonymous regardless of who is funding the schemes. After Volodymyr Zelenskyy grabbed more power by stripping two key anti-corruption agencies, the National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP), of their independence, protests erupted.
European leaders immediately noticed the intent of the power move and threatened Zelenskyy with a withdrawal of support. The current dictatorship of Zelensky and his small team then quickly reversed course. However, the damage is done, and once again Ukranian corruption is center stage.
It doesn’t matter how much western intelligence agencies and pro-Ukraine western govt officials try to hide the nature of the duck represented by Zelenskyy by calling him a swan, eventually the quacking returns – the mask drops.
UKRAINE – […] Some also cautioned that the agitation could spark a popular uprising like the one that toppled then-President Viktor Yanukovych in 2014. “We are now in the face of the most dangerous development in all the years since Maidan,” wrote Sevgil Musayeva, editor-in-chief of the Ukrainska Pravda newspaper. And like others, she hazarded that Zelenskyy’s powerful Chief of Staff Andriy Yermak was behind the move, amid signs that NABU is preparing cases against presidential insiders.
Eventually, with public uproar mounting, Ukraine’s president bowed to the pressure and agreed to restore the independence of the agencies — a new law turning back the clock is meant to be voted on Thursday.
Among the insiders currently under investigation are former Deputy Prime Minister Oleksiy Chernyshov and former Deputy Head of the Office of the President Rostyslav Shurma. Shurma was dismissed last year, after it emerged his brother was receiving green subsidies from the Ukrainian government for solar plants operating in Russian-occupied Donbas. Coincidentally, Shurma’s Munich home was raided by NABU investigators and German police in mid-July.
“It is critical not to lose the unity. To listen to people, to have dialogue, and so on,” Zelenskyy told reporters at a press briefing on Friday, explaining his about-face and consequent decision to restore the independence of the agencies in question.
QUACK!
[…] some civil society leaders think targeting the agencies is a sign that Zelenskyy and his clan-like group of aides are starting to panic about his poor polling numbers. As it stands, his chances of winning the next election, when it is eventually held, appear remote, with former armed forces commander General Valery Zaluzhny, who Zelenskyy fired after clashing over war strategy, seen as most likely to get elected.
[…] The street protests in Ukraine have put Zelenskyy on notice, and they’re an indication that patience is wearing thin. (read more)
Everywhere you travel in Europe the one constant amid the ordinary working-class is their knowledge that Ukraine is a bastion of political corruption. The summer coastline of Europe is full of Ukrainian govt officials and very wealthy Ukranian businessmen spending money, a lot of money, that everyone knows is coming from USA and European subsidy.
Visible Ukraine corruption is a joke amid those who cannot afford pretending and those in the service industries in the vacation resorts all along the European coast.
Making it all worse, is the in-your-face aspect of it very visible from the Ukrainians staying in luxury hotels, villas and opulent residences while sneering through their designer sunglasses. “Meh, or she, is Ukrainian,” is the simple response to the rudeness when noted.
There may be no love for Vladimir Putin within the muscle memory of some older populations within some former Soviet states. However, amid the working-class and the portion of the younger generation self-inoculated from western propaganda, opinion of Zelenskyy is even lower.
Eastern European support for the Zelenskyy regime is akin to U.S. support during the Biden regime. The pretending exists in media and government officials’ proclamations only.
Don’t kid yourself, the politicians know it.
The reality of the U.S-Canada economic relationship and the position of President Donald Trump is not that difficult to understand if you take all the disparate datapoints and quotes from Trump and put them into context.
During a White House meeting with Mark Carney, President Trump essentially told the Canadian Prime Minister why he was in no hurry to get to a deal with Canada.
The 35% tariffs on non-USMCA goods are going to trigger on August 1st, because the main priority of Trump -looking toward Canada- is to dissolve the USMCA.
During the May 6th oval office meeting with Carney, President Trump was discussing the USMCA and said: “As you know it terminates fairly shortly. It gets renegotiated fairly shortly.” … “This was a transitional deal, and we’ll see what happens, we’re going to start renegotiating that” … “I don’t know if it serves a purpose anymore.” …. “And the biggest purpose it served was, we got rid of NAFTA.”
To understand why President Trump wants to dissolve the USMCA {SEE HERE}. To understand the technical value of dissolving the USMCA {SEE HERE}. It’s not a complicated economic analysis; it’s common sense.
Currently, approximately 60% of the traded goods and services between the U.S. and Canada are covered by the USMCA; the remaining 40% will be hit by tariffs on August 1st at a 35% rate.
When the USMCA is renegotiated, predictably dissolved in favor of two bilateral trade agreements – one for Mexico and one for Canada, all of the U.S-Canada trade sectors will be part of the enlarged free trade negotiation. As a result, there is absolutely no motive to engage in trade discussions now.
♦ President Trump’s position is essentially to talk about the details when the USMCA is dissolved; hence, the ambivalence.
Politico is noting the Canadian trade team simply doesn’t understand this. “[D]espite months of back and forth, the terms for a deal have not yet been set, a senior government source said, with the White House informing the Canadian side that Trump is more focused on securing deals with other partners like India.”
(Politico cont..) […] Earlier this month, Canada conceded that any deal with Trump is likely to include tariffs.
Carney’s government wants stability around the tariffs Trump invoked using Section 232 of the Trade Expansion Act.
They are crushing Canada’s auto, steel, aluminum and forestry industries. Trump also plans to hit imported copper with 50 percent tariffs starting Aug. 1 — with semiconductor and pharmaceutical imports likely to follow.
Canada ultimately wants the tariffs eliminated or lowered to a fixed level that doesn’t fluctuate, the senior government official said. “If we know what world we’re going into, then we can have better plans and policies to attract investment.”
Canada’s premiers say the unpredictability is punishing the economy.
“Private investment is not growing because everybody’s on pause,” Quebec Premier François Legault told reporters last week. “They are waiting to see what will happen. I’ve been in business — it’s about the worst thing you can have is uncertainty.” (read more)
The certainty the Canadians are looking for can be found easily if they stop pretending.
(1) U.S. tariffs against non-USMCA products from Canada will go into effect on August 1st. (2) As soon as the USMCA is reopened, it will be dissolved. (3) After the USMCA dissolution, a bilateral free trade agreement between the USA and Canada will be negotiated.
Every current effort by Canada to change the nature of the trade system, between now and the reopening of the USMCA (to dissolve it), is futile.
Again, I’m not exactly sure why this reality is so challenging for the Canadian govt to understand.
Commerce Secretary Howard Lutnick describes some of the details within the new U.S-European trade agreement.
As noted, the $600 billion in regular trade products exported by the EU to the USA market will be subject to a 15% reciprocal tariff. This approach effectively ends the Marshall Plan, sets the trade terms to balance and should generate approximately $90 billion in revenue to the U.S. treasury.
U.S. tariffs on cars and auto parts are being reduced to the baseline 15 percent — a level that matches the deal notched earlier this month by Japanese automakers. In exchange, the EU has agreed to lower its car tariffs from 10 percent to zero, trade spokesperson Olof Gill said. The German companies are angry though, because the 25% tariff still applies to Mexico. So, German autos manufactured in Mexico (massive prior investment) will come to the USA with a 25% tariff.
In addition to the EU agreement to open their markets to U.S. products, private companies within the EU have committed to $600 billion in direct investment within the USA. Additionally, the EU will purchase $750 billion in U.S. energy products and with the NATO commitments previously agreed significant military purchases are anticipated. That is a major purchase agreement of $250 billion each year for the next three years.
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