President Trump Participates in Spirit of America event – Video and Transcript…


Earlier today President Trump participated in a showcase celebrating products made in the USA.  [Video and Transcript Below]

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[Transcript] –  THE PRESIDENT: Please. Very nice. Thank you. Big day. It’s my pleasure to welcome you all to the beautiful, great White House and to host this magnificent showcase of America’s incredible small businesses. I just got to witness some beautiful product.

Today, we received outstanding news from all over our country, really. The United States economy has added almost 5 million new jobs in the month of June. That’s shattering all expectations and shattering all records — historic records. History of our country, we’ve never added anywhere near that.

And last month, we also broke the record, but now we shattered it. Much higher than even last month. This is the largest monthly jobs gain in history. We added 2.1 million leisure and hospitality jobs, 740,000 retail jobs, 568,000 education jobs and healthcare jobs, 357,000 service jobs — and very importantly to me, because you know what’s happening with manufacturing, where we’re bring it back because we’ve made incredible trade deals — so manufacturing jobs are coming back, and we added 356,000 manufacturing jobs. Incredible. Incredible numbers. All records.

African American workers made historic gains, the likes of which we’ve never had before, with 404,000 new jobs in June. That’s a record, and that’s the highest number ever. We had 700,000 new jobs over the last two months for African American workers; that’s the highest ever. And both — both months are the highest. We shattered last month’s record. That was a record, and we shattered it.

Hispanic employment is up by 1.5 million jobs. Great businessmen and women, and they’re up 1.5 — think of it — million jobs. Hispanic.

Eighty percent of small businesses are now open. New business applications have doubled since late March. America’s economy is coming back much stronger than ever anticipated by most people, almost all people, because these numbers were — even the most optimistic people, these numbers are being doubled and tripled over what they thought would be possible.

We’re grateful to be joined today by Secretary of Commerce Wilbur Ross. Thank you very much, Wilbur. Thank you very much. You’re doing a great job.

Every company here today embodies true American excellence. Your stunning craftsmanship — I just witnessed some of it; it’s incredible — it’s treasured and prized all over the world. The product you make is like none other. And your spirit for America and the greatness of our country is unrivaled.

With us are workers who make decorative American flags from Virginia; fly-fishing reels from Florida; grills from Illinois; pies from North Carolina — they look very good to me; coffee from Oklahoma; ice cream from Maryland; and sunscreen and baseball bats from Texas. With unmatched skill and devotion, you make the goods and build the products that proudly bear the wonderful phrase, “Made in the USA.” You’re seeing that more and more: “Made in the USA.”

We’re bringing our jobs back because of trade deals. We have great trade deals, and jobs are coming back. And we have a lot of great trade deals right now under negotiation. We got to get them done as quickly as possible.

The small businesses represented in this room continue a great and noble American heritage. You’re entrepreneurs, artisans, creators, craftsman who forge your own path, made your own products, and provide good-paying jobs for our citizens. Incredible jobs, incredible people, and they truly are artisans. And you’re doing it all with American hands, American heart, and American pride.

Several of these companies are entirely veteran-owned and operated. Especially as we approach Independence Day, I want to thank the courageous men and women who’ve served their country in uniform. We vow to honor your sacrifice by forever defending the rights, freedoms, and principles you risk your entire life to defend.

Following the arrival of the plague from China — and that’s what it is; it’s a plague and it should have never happened. China should have never let that happen, but China did allow it to happen. We just signed a brand-new trade deal, and the ink wasn’t even dry when this came over.

But we raced into action to save our nation’s small businesses. We passed over $3 trillion in historic relief measures — $3 trillion; think of that — including over $670 billion for the Paycheck Protection Program, a tremendous success, as you can see by the numbers.

To keep small-business workers on the payroll, I signed a bill providing federally funded paid sick leave and paid family leave for American workers. Things that have never been done. We’re allowing businesses to defer paying their income tax. And we expanded tax refunds very substantially.

Thanks to our efforts and the incredible resilience of our nation’s small businesses — and I really think we can add the foundation that we built. We built the greatest economy ever built, and that foundation was so strong that, instead of coming weakly back or going in the other direction — because this is coming back, and we haven’t totally succeeded yet; we will soon. But we haven’t killed all of the virus yet.

And yet, you look at these numbers — and that’s based on a very strong foundation that we built, a foundation like no other; a foundation that, had we not been attacked by this virus, this horrible virus — we were doing things and had things planned that nobody else had ever even thought of: paying off debt; building numbers, the likes of which nobody has seen. And yet, next year, we’ll be in a position where, I believe, in a certain respect, I think we’ll even be stronger than we would have been because of what we’re doing.

But only that strong foundation allowed us to be up here today talking about these record-setting job numbers and other numbers that we’re producing, because America’s economy is now roaring back to life like nobody has ever seen before. Nobody has ever seen numbers like this.

In May, retail sales surged by nearly 18 percent. That’s a record. We recently saw the best 50-day increase in the history of the stock market. So we had 50 days — go back a couple of weeks — we had 50 days, the likes of which we’ve never had in the history of the stock market, which to me means jobs.

And it’s lifting up 401(k)s and retirement savings for American workers. We’re doing numbers like nobody has ever seen before. Take a look at 401(k)s. In a pandemic, we’re almost even with where we were before the pandemic started, and nobody would have said that was possible — nobody at all.

We built the greatest economy in the history of the world, and we’re now doing it again. And I think we’ll do even better the second time than we did the first time, unless somebody comes along and says, “Let’s raise taxes on everybody.” And they’re raising taxes not only on corporations — they’ll just go to another country, and they’ll do just fine — but they’re raising taxes on people and middle-income people, and they’re losing jobs.

So you can’t allow that to happen. That will be — all of this incredible job that we’ve done will go down like that. It will be a terrible, terrible sight. It might even be a 1929 situation. So you have a chance to have the greatest numbers in history. You’re almost there.

We’re almost back to where we were from the standpoint of stock market. Think of that. But you’ll have a crash like you’ve never seen before. If you put the wrong person in office, you’ll see things that you would not have believed are possible. They want to raise taxes, they want to raise regulations. You know, a big part of what we’ve done is by cutting regulation. We’ve cut regulation more than any President in the history of our country, whether they’re there for four years, eight years, or in one case, more than that. Nobody even came close. And we’re doing much more. We have regulation, but it’s proper regulation, not strangulation.

We’re also tapping into the talent, genius, and the drive of our people to kill the virus. We’re speeding the delivery of new treatments, including anti-viral steroids, convalescent plasma, and other therapies. We have therapeutics that are really, really looking good, and this includes two drugs that have proven effective: remdesivir and dexamethasone, which is having a tremendous trial. And we’ll see how that all happens.

But we have three vaccine candidates. We’ve had many more, but three are really, really looking good, and I think you’re going to have an answer to that very soon. Three vaccine candidates are now in trial, with three more to start very shortly. These are all great companies. They’ve had tremendous success with other problems in the past.

And we’re accelerating production through Operation Warp Speed. Plus, we have our military ready, so that should we get — whether it’s therapeutic or vaccine — our military is ready, logistically ready. These are the best in the world to get it out to everybody as soon as we have it. And we think we’re going to have it soon.

As we prepare to celebrate the Fourth of July, let us renew our devotion to this nation, to its citizens, and the eternal values that define our past and shape our future.

I’m going to Mount Rushmore on July 3rd. We’re going to have a tremendous evening. It’s going to be a fireworks display like few people have seen. It’s going to be very exciting. It’s going to be beautiful.

They’ve been wanting to do that for years — fireworks. They used to do it many years ago, and, for some reason, they were unable or unallowed to do it. They just weren’t allowed to do it. And I opened it up, and we’re going to have a tremendous July 3rd. And then we’re coming back here, celebrating the Fourth of July in Washington, D.C.

And I want to also thank all of law enforcement. The job you’ve done is incredible. We signed a bill. If you play with our monuments or our statues, you go to jail for 10 years. It’s amazing how it all stops so fast. Stops so fast. We let the local authorities handle it as long as possible, but ultimately we said, “Let’s step in.” And we stepped in and it stopped. Ten years in jail if they do what they were doing.

So we’re very proud of law enforcement. We want to thank law enforcement. Really great job. Our military has been incredible. Our National Guard has been just incredible all over.

I’m glad to see, in Seattle, they took care of the problem, because as they know, we were going in to take. We were ready to go in and they knew that too. And they went in and they did what they had to do.

We’re a nation committed to equal and abundant opportunity for citizens of every race, color, religion, and creed. The American Dream is the sacred birthright of every American child, and that’s what we have, is we have the American Dream. And nobody is going to shatter the American Dream — not the anarchists, not the agitators, not the fools, not the looters. They’re not going to have any impact on the national dream — the national dream like no other.

That’s why we’re here today, to ensure that every citizen can achieve their dream, achieve their destiny, and realize their full and extraordinary potential. That is how we will renew, rebuild, and restore America.

We’ve done an incredible job in a three-and-a-half-year period, a job like nobody thought would be possible to be done. And we’re doing it again, and we’re doing it, I believe, bigger and better and stronger than ever before. You’re going to see that next year. And unless it’s tampered with, we’re going to have a year next year like no other. It’ll be a phenomenal year, a successful year.

And we’ll have our best job numbers ever next year. We’ll come back stronger and more prosperous than ever before. Next year will be — I think it’ll be one of the — from an economic standpoint, the greatest or one of the greatest economic years we’ve ever had.

So I just want to thank everybody for being here. I want to thank all of these incredible artisans and business people for showcasing your amazing products. And I just want to leave you by saying very important words: God bless America.

Thank you all very much. Thank you. Thank you very much. (Applause.)

END 12:08 P.M. EDT

Record-Setting Job Gains of 4.8 Million in June During Partial Economic Reopening….


Most “experts” had been forecasting around 2.5 million jobs recovered in June; however, payrolls rose by 4.8 million, far exceeding expectations.  The Bureau of Labor Statistics report [Available Here] shows job recovery across-the-board, with a major bounce back in the leisure and hospitality sector gaining 2.1 million jobs.

The June jobs growth of 4.8 million was a big leap from the 2.7 million in May.  Notably the May report was also revised upward by 190,000.  The June result is easily the largest single-month for job gains in U.S. history.

Topline Data:

  • In June, employment in leisure and hospitality increased by 2.1 million, accounting for about two-fifths of the gain in total nonfarm employment.
  • In June, employment in retail trade rose by 740,000, after a gain of 372,000 in May.
  • Employment increased by 568,000 in education and health services in June.
  • Employment increased in the other services industry in June (+357,000), with about three-fourths of the increase occurring in personal and laundry services (+264,000).
  • In June, manufacturing employment rose by 356,000.
  • Construction employment increased by 158,000 in June, following a gain of 453,000 in May.

Overall the jobs result shows the U.S. economy is coiled like a spring… compressed by the COVID-19 shutdown, yet waiting to release and bounce back quickly.   The underlying economic activity is waiting to explode as U.S. consumers have not spent trillions in income earnings due to the shutdown.

Once the economy is re-opened, there will be extremely rapid economic growth as a result of pent-up demand.  The key is just doing it…. just opening.

(Via CNBC) Nonfarm payrolls soared by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday.

Economists surveyed by Dow Jones had been expecting a 2.9 million increase and a jobless rate of 12.4%. The report was released a day earlier than usual due to the July Fourth holiday.

[…] “Today’s announcement proves that our economy is roaring back. It’s coming back extremely strong,” President Donald Trump said in a news conference about an hour after the numbers were released. He pointed specifically to a sharp drop in the unemployment for Blacks that fell from 16.8% to 15.4%. “These are historic numbers.”  (read more)

Another Step in a Much Bigger Picture – FCC Formally Designates Hauwei and ZTE Technology as National Security Risks…


~ Why We Must Re-Elect President Trump ~

Today the Federal Communications Commission (FCC) formally designated Chinese’s Huawei Technologies Co and ZTE Corp as posing as posing national security threats to the United States. This designation and declaration blocks U.S. firms from tapping an $8.3 billion government fund to purchase equipment from either company.

(Source pdf)

This is an important step toward eliminating Huawei 5G data risks within U.S. telecommunication networks.  Additionally, the designation will have the forward impact of restricting U.S. allies from linking networks if they use Huawei/ZTE components.

(Via Reuters) – The U.S. telecommunications regulator voted in November 5-0 to issue the declaration and proposed requiring rural carriers to remove and replace equipment from the two Chinese companies from existing U.S. networks. “We cannot and will not allow the Chinese Communist Party to exploit network vulnerabilities and compromise our critical communications infrastructure,” FCC Chairman Ajit Pai said in a statement Tuesday. (more)

This is another policy alignment from the Trump administration toward the ongoing confrontation with China.  Beijing will not be happy; and this follows only a day after the Trump administration removed the ‘special trade status’ afforded to Hong Kong.

President Trump and all executive branch offices are strategically targeting China from multiple simultaneous angles.  The scale of the strategy is very comprehensive.

This FCC position today aligns with the Commerce Department (Wilbur Ross) setting up new advanced chip manufacturing in the U.S. which will facilitate further decoupling from China.   Taiwan Semiconductor Manufacturing Co (TSMC) announced in May they will build an advanced chip manufacturing facility in Arizona. A manufacturing facility for advanced 5 nanometer chip manufacturing is a steep investment decision costing around $10 billion.

Economic decoupling by a thousand paper cuts.

President Trump has been methodically advancing an economic position for several years that showcases a remarkable duality.

On one hand President Trump demands that China increase purchases from the U.S. to offset the trade imbalance; this approach is Trump using a deliberate panda mask and includes praise each time Beijing responds positively.  China expected this approach.

However, on the other hand President Trump has been removing the tentacles of Chinese economic influence both in the U.S. and globally.  This approach deconstructs the One Belt – One Road plan of Beijing; this approach is Trump using the dragon strategy.  China did not see this part coming.

The duality of the panda mask and the dragon strategy is very unique for Beijing to confront because it is the exact same strategy used by China.  By expressing a public panda mask, yet concealing the underlying dragon moves, President Trump’s policy to China is a mirror of their own economic plan.

Historic Chinese geopolitical policy, vis-a-vis their totalitarian control over political sentiment (action) and diplomacy through silence, is evident in the strategic use of the space between carefully chosen words, not just the words themselves.

Each time China takes aggressive action (dragon) China projects a panda face through silence and non-response to opinion of that action;…. and the action continues.

The CCP dragon has a tendency to say one necessary thing publicly, while manipulating another necessary thing privately.  The Art of War.

President Trump is the first U.S. President to understand how the CCP dragon hides behind the panda mask.  He has now exposed that historic playbook to the world.

First President Trump got their attention with tariffs.  Then… On one hand President Trump has engaged in very public and friendly trade negotiations with China (panda approach); yet on the other hand, long before the Wuhan virus, Trump fractured their global supply chains, influenced the movement of industrial goods to alternate nations, and incentivized an exodus of manufacturing (dragon result).

It is specifically because he understands that Panda is a mask that President Trump messages warmth toward the Chinese people, and pours vociferous praise upon Xi Jinping, while simultaneously confronting the geopolitical doctrine of the Xi regime.

In essence Trump is mirroring the behavior of China while confronting their economic duplicity.

There is no doubt in my mind that President Trump has a very well thought out long-term strategy regarding China. President Trump takes strategic messaging toward the people of china very importantly. President Trump has, very publicly, complimented the friendship he feels toward President Xi Jinping; and praises Chairman Xi for his character, strength and purposeful leadership.

To build upon that projected and strategic message – President Trump seeded the background by appointing Ambassador Terry Branstad, a 30-year personal friend of President Xi Jinping.

To enhance and amplify the message – and broadcast cultural respect – President Trump used Mar-a-Lago as the venue for their first visit, not the White House.  And President Trump’s beautiful granddaughter, Arabella, sweetly serenaded the Chinese First Familytwice in Mandarin Chinese song showing the utmost respect for the guests and later for the hosts.

All of this activity mirrors the duplicity of China.  From the November 2017 tour of Asia to the January 2020 China phase-1 trade deal, President Trump has been positioning, for an economic decoupling and a complete realignment of global trade and manufacturing.

Remarkably, at the same time… inch by inch… President Trump has been able to keep the international financial markets stable while he has moved to completely reset global trade.

For those who follow carefully, you can see President Trump advancing public positions against China at strategic times that keeps the multinational corporations on the U.S. stock exchange from major losses.  Forward policy, then pause.  Forward policy, then pause.  Within this process the financial markets pull back, then regain… pull back, then regain.

This very strategic approach keeps the overall wealth (value) within the U.S. market, while the decoupling is fundamentally taking place.   Smart U.S. corporations have made, and/or are making, shifts in their forward business decisions to offset the inevitable end.

It is quite remarkable to stand back and watch how the Trump administration is accomplishing the reversal of decades of exfiltration of wealth, and returning jobs and manufacturing back to the U.S through the America First agenda.   No other person could have ever accomplished this.

Unfortunately, this success also explains the opposition. Those who have aligned their personal affluence by selling the wealth of the U.S. are fighting like hell to stop President Trump from Making America Great Again.

Guaranteed Basic Income & Marxists


COMMENT: Dear Mr. Armstrong,
Thank you!!! for opening our eyes to the scary new world in which we live in. Are there more Socialist/Marxist to other political groups?

Our neighbor is a professor at a major university in South Florida with a Doctorate in Nursing. She recently shared with us her strong ideologies and political views which caught us a little off guard. We started off talking about COVID 19. She definitely refuted anything we had to say regarding the virus and any information we provided (which of course we learned from your blog and the many videos from Drs working on the frontline). She said, that we should be following the WHO, the NIH, and not so much the CDC. We are sad because she conveyed to us, “ let’s leave the leadership of the future to the youth, of course, this is where she has direct influence. Well, here are some of her responses to our questions. She is 100% on board with disbanding the police. And in mentioning the economy, She feels just leave it to artificial intelligence/robotics. We suddenly had a flashback of the robots you showed in an earlier video on your blog and their capabilities, and how they could be used to police our country. We then said, What about jobs? She blatantly expressed that she was for a guaranteed basic income for all. She said, Europe is more socialistic than the United States, as though that was the way it should be. She came out and literally said, she was a “Marxist”. We were shocked. We were always democrats as many of our friends are still. Thanks to you and your blog that we stumbled upon one day. She ended by stating there are “more of her than us”. We are assuming that she means Marxist/Socialist.

We are no longer leaning left or consider ourselves Democrats. Most of our friends consider us “trump lovers” and they will not accept any of our thoughts or reasoning. And when they reveal their point of view, it’s always an example of one person and how they were so unjustly treated. Never do they provide the big picture. We forwarded Michael Moore’s new movie to one of our friends and their email response was “what happened to Michael Moore….he use to make great movies.

Keep up the good work. There are many people who are listening.

Cheers,
Mj

REPLY: The greatest mistake these people make is they have no respect for human nature. Some people are thieves while others are honest. Some women have no problem selling their bodies to the highest bidder and others will not wear even a two-piece bathing suit. One thing is certain: not everyone will be willing to stay home and just watch TV and never work. They assume if they hand out guaranteed basic income that everyone will be happy. They are judging everyone by themselves. We are all NOT the same. Some people hate work and others are addicted to it. I could never sit home, not work, and just watch TV.

I am probably more Libertarian. I respect that there are many versions of human nature. The object is FREEDOM, and I strongly disagree with those who always want to seize politics to FORCE their view upon the rest of society, as Bill Gates and his crew are doing right now. Trump gave the WHO 30 days to explain their false forecasts or he would cut off all funding. They REFUSE to reply. Just ask a simple question — why did they refuse to respond if they are so perfect?

Eat Your Winnamins – New Home Sales Skyrocket 16.6% Blowing Past Expectations…


Jumpin’ ju-ju bones… New home sales jumped a whopping 16.6% in May, blowing past the estimates of a 2.9% rise.  The May increase in sales is nearly 13 percent higher than the same month one year ago.

Home sales are a key indicator of economic health because purchases of homes requires (1) income, a stable job; and (2) an optimistic financial outlook from the buyer.

Sales of new single-family homes jumped 16.6% in May from April, to a seasonally adjusted annualized pace of 676,000, the Census Bureau reported Tuesday. The median economist estimate was for 640,000, according to Bloomberg data.

In addition to a larger-than-expected monthly surge, May sales were nearly 13% higher than a year ago. As the US economy reopens, people are flocking back to the housing market in droves — the rosy sales are a rebound from three months of declines ending in April. (LINK)

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Will the Dollar Crash?


QUESTION: Good morning from Greece Martin!! It will be very interesting to have your comment on Steven’s Roach interview at CNBC about an upcoming dollar collapse due to the ballooning US deficit.

My respect for your job,
JA

ANSWER: This is the typical myopic nonsense. All they ever do is look at the quantity of money and focus exclusively on the United States. There is a dollar shortage because around the world people fear their own governments. About 70% of all paper dollars are outside the USA. With the prospect of Europe canceling their currency and their inability to sell debt, they will push to convert all debt to perpetual bonds without notice; the dollar will be the LAST to crack. Make no mistake about it — the dollar will crack for that is the Monetary Crisis Cycle. But this comes in stages.

These economists look at domestic numbers and always rely on the Quantity Theory of Money, and they have been dead wrong ever since 2009. The dollar would crash if Trump lost the election, for then the Democrats would join the socialists of Europe. Pelosi already tried to slip in the “digital dollar” in preparation of also canceling the currency to enforce raising taxes.