A contrast in interviews between the obtuse Jake Tapper and Maria Bartiromo discussing the Trump administration efforts to reopen the economy. While Bartiromo still leans toward policy initiatives to bail out her Wall Street allies, the doomsayers who never focus on solutions. The previous economic package is working and delivering positive results.
As White House economist Kevin Hassett noted yesterday, any phase-4 relief package would be very specifically targeted -as tax incentives, not spending- toward only those companies and industries that are negatively impacted during earnest efforts to reestablish their footing.
National Economic Council Chairman Larry Kudlow appears for a Sunday interview with CNN’s Jake Tapper on the topic of the economy, recovery and re-opening. Tapper has to pretend not to know things, like how an extra $600/week (COVID unemployment) is a real disincentive for people to return to work.
Earlier today President Trump delivered remarks at the 2020 United States Military Academy at West Point Graduation Ceremony. [Video and Transcript Below]
[Transcript] – THE PRESIDENT: Thank you, General, and hello cadets. On behalf of our entire nation, let me say congratulations to the incredible West Point Class of 2020. Congratulations. Everyone have a good time, enjoy yourselves, because we are here to celebrate your achievements, and great achievements they are. Let us also recognize your remarkable Superintendent, General Darryl Williams, for his outstanding stewardship. General, thank you very much. Great job. Thank you. (Applause.)
Few words in the English language and few places in history have commanded as much awe and admiration as West Point. This premier military academy produces only the best of the best, the strongest of the strong, and the bravest of the brave. West Point is a universal symbol of American gallantry, loyalty, devotion, discipline, and great skill. There is no place on Earth I would rather be than right here with all of you. It’s a great honor.
Across this hallowed plain have passed many of the greatest and most fearsome soldiers that ever lived. They were heroes who drove thundering columns of Sherman tanks into the heart of a wicked empire. They were legends who unleashed the fury of American artillery upon our enemies on remote islands and distant shores.
They were titans who strode through cannon blast and cavalry charge, and stared down our foes through gray clouds of smoke and shrapnel. They were the Army Rangers who led the way up jagged cliffs, the Airborne soldiers who rained down justice in the dark of night, the infantry whose very sight meant liberation was near, and the mighty forces who sent tyrants, terrorists, and sadistic monsters running scared through the gates of hell. No evil force on Earth can match the noble power and righteous glory of the American warrior.
I have no doubt that the young men and women before me today will add your names to this eternal chronicle of American heroes. You will go forth from this place adored by your countrymen, dreaded by your enemies, and respected by all throughout the world. Someday, generations of future West Point cadets will study your legacy. They will know your deeds, they will celebrate your triumphs, and they will proudly follow your example.
To the 1,107 who today become the newest officers in the most exceptional Army ever to take the field of battle, I am here to offer America’s salute. Thank you for answering your nation’s call.
On this special occasion, we are delighted to be joined by Congressman Steve Womack, Secretary of the Army Ryan McCarthy, Assistant Secretary Casey Wardynski, and Army Chief of Staff General James McConville, an old grad from the class of 1981.
Let’s also express our appreciation to General Curtis Buzzard, General Cindy Jebb, and all of the wonderful instructors, coaches, and faculty members who are continuing West Point’s two-century tradition of unrivaled excellence.
To all of the parents, grandparents, and family members watching this ceremony from your beautiful home: Even though you could not be here today, we know this day could never have happened without you. Your love and sacrifice have given America these phenomenal men and women. Cadets, please join me in sending your parents and families the heartfelt thanks that they so richly deserved. They’re all watching right now. Please. (Applause.) Thank you very much.
The depth and breadth of the U.S. Military’s contributions to our society are an everlasting inspiration to us all. I want to take this opportunity to thank all members of America’s Armed Forces in every branch — active duty, National Guard, and reserve — who stepped forward to help battle the invisible enemy — the new virus that came to our shores from a distant land called China. We will vanquish the virus. We will extinguish this plague.
I also want to thank the men and women of our National Guard who respond with precision to so many recent challenges, from hurricanes and natural disasters, to ensuring peace, safety, and the constitutional rule of law on our streets. We thank every citizen who wears a uniform in selfless service to our nation.
The members of this class have come from every state in our union. You have come from the farms and the cities, from states big and small, and from every race, religion, color, and creed. But when you entered these grounds, you became part of one team, one family, proudly serving one great American nation.
You became brothers and sisters pledging allegiance to the same timeless principles, joined together in a common mission to protect our country, to defend our people, and to carry on the traditions of freedom, equality, and liberty that so many gave their lives to secure. You exemplify the power of shared national purpose to transcend all differences and achieve true unity. Today, you graduate as one class, and you embody one noble creed: Duty, Honor, Country.
Every graduate on this field could have gone to virtually any top-ranked university that you wanted. You chose to devote your life to the defense of America. You came to West Point because you know the truth: America is the greatest country in human history, and the United States Military is the greatest force for peace and justice the world has ever known.
The survival of America and the endurance of civilization itself depends on the men and women just like each of you. It depends on people who love their country with all their heart and energy and soul. It depends on citizens who build, sustain, nurture, and defend institutions like this one; that is how societies are made and how progress is advanced.
What has historically made America unique is the durability of its institutions against the passions and prejudices of the moment. When times are turbulent, when the road is rough, what matters most is that which is permanent, timeless, enduring, and eternal.
It was on this soil that American patriots held the most vital fortress in our war for independence. It was this school that gave us the men who fought and won a bloody war to extinguish the evil of slavery within one lifetime of our founding. It was the graduates of West Point — towering figures like McArthur, Patton, Eisenhower, and Bradley — who led America to victory over the sinister Nazis and imperial fascists 75 years ago. It was under the leadership of West Point graduates like the legendary General Matthew Ridgway that the Army was at the forefront of ending the terrible injustice of segregation.
It was Army strength that held the line against the brutal opposition and oppression from Communism. And it has been thanks to patriots like you that America has climbed to new heights of human achievement and national endeavor.
This is your history. This is the legacy that each of you inherits. It is the legacy purchased with American blood at the crest of Little Round Top, on the crimson beaches of Normandy, in the freezing mud of Bastogne, and the dense jungles of Vietnam. It is the legacy of courageous, selfless, faithful patriots who fought for every inch of dirt with every ounce of strength and every last scrap of heart and drive and grit they had.
And they did it because they believed in the undying principles of our founding. They did it because they cherished their homes, their faith, their family, and their flag. And they did it because when they came to this school, they were taught to hold fast to their love of our country; to cherish our heritage, learn from it, and build upon it. That is what young Americans are taught here at West Point. That is the legacy that you carry forward as second lieutenants in the United States Army, and you must never forget it.
Through four long years, you have honed your skills, trained your mind and body, overcome every obstacle, and earned your place of pride in the Long Gray Line. You made it through the rigors of R-Day and Beast, the intensity of CLDT, and weeks of training in the blistering heat. You have pushed yourselves far beyond every limit imaginable.
Some of you have even pushed the limits a bit too much. So for any cadets who have not finished walking off their hours, as Commander-in-Chief, I hereby absolve all cadets on restriction for minor conduct offenses, and that is effective immediately. Congratulations. (Applause.) That’s a nice one, isn’t it? Don’t you feel better now? (Laughter.)
Surviving the 47-month experience is never easy, but only the class of 2020 can say it survived 48 months. And when it comes to bragging rights, no one can boast louder than the class that brought Navy’s 14-year football winning streak to a screeching halt. You did that. I happened to be there. (Applause.) I happened to be there. That’s right. That was a big day. I was there. You beat Navy and brought the Commander-in-Chief’s Trophy back to West Point for two straight years. So we say, “Go, Army, go.”
This graduating class secured more than 1,000 victories for the Black Knights, including three bowl victories, 13 NCAA team appearances, and a Women’s Rugby Championship with the help of somebody that I just met: 2019 MVP, Sam Sullivan. Fantastic job. Thank you. A fantastic job. (Applause.) Five cadets won national boxing championships, and Adaya Queen brought home two. Brendan Brown earned the title of Powerlifting National Champion.
In academics, 38 cadets have earned fellowships to continue their studies, including First Captain Dane Van de Wall, who received one of the most prestigious awards in academia: the Rhodes Scholarship. Congratulations, Dane. It’s a great achievement. Thank you. Congratulations. (Applause.) Great achievement.
But no one modeled the values of the soldier-scholar quite like Lindy Mooradian. Lindy earned both the highest overall class standing and the highest physical program score. She has published scientific research in a prominent journal and set five new records on the athletic track. Lindy, incredible job. Where is Lindy? Where is Lindy? (Applause.) For somebody that did so well, they didn’t give you a very good seat, Lindy. (Laughter.) We have to talk about that. Congratulations.
Right now, America needs a class of cadets that lives by your motto: “With Vision, We Lead.” We need you to carry on the spirit of the great General Ulysses S. Grant. Soon after assuming overall command, following three years of Union setbacks, General Grant encountered someone heading north to Washington during the Battle of the Wilderness: “If you see the President,” Grant said, “tell him from me that whatever happens, there will [never] be no turning back.”
We need you to be as visionary as Patton, who as a young man in 1917, became the first soldier assigned to the Army Tank Corps. One month into the job, he saw the future, writing, “If resistance is broken, and the line pierced, the tank must and will assume the role of pursuit cavalry and ride the enemy to death.” Under Patton’s leadership, that’s exactly what they did.
We need you to be as bold and determined as the immortal General Douglas MacArthur, who knew that the American soldier never, ever quits. After leaving the Philippines for Australia at a low point of the Pacific War in 1942, MacArthur famously vowed, “I shall return.” For two years, he then took great strategic risks and placed himself often in personal danger. On October 20th, 1944, McArthur stepped off a landing boat, strode through knee-high water, and proclaimed, “People of the Philippines: I have returned. By the grace of Almighty God, our forces stand again on Philippine soil.” He then called upon the islands’ brave people to rise up and join the fight. America’s momentum was unstoppable.
These great leaders were not afraid of what others might say about them. They didn’t care. They knew their duty was to protect their country. They knew the Army exists to preserve the republic and the strong foundations upon which it stands: family, God, country, liberty, and justice. They were true, tough American patriots. That is what our country needs, especially in these times, and that is what you are.
Each of you begins your career in the Army at a crucial moment in American history. We are restoring the fundamental principles that the job of the American soldier is not to rebuild foreign nations, but defend — and defend strongly –our nation from foreign enemies. We are ending the era of endless wars. In its place is a renewed, clear-eyed focus on defending America’s vital interests. It is not the duty of U.S. troops to solve ancient conflicts in faraway lands that many people have never even heard of. We are not the policemen of the world.
But let our enemies be on notice: If our people are threatened, we will never, ever hesitate to act. And when we fight, from now on, we will fight only to win. As MacArthur said: “In war, there is no substitute for victory.”
To ensure you have the very best equipment and technology available, my administration has embarked on a colossal rebuilding of the American Armed Forces, a record like no other. After years of devastating budget cuts and a military that was totally depleted from these endless wars, we have invested over 2 trillion — trillion; that’s with a “T” — dollars in the most powerful fighting force, by far, on the planet Earth. We are building new ships, bombers, jet fighters, and helicopters by the hundreds; new tanks, military satellites, rockets, and missiles; even a hypersonic missile that goes 17 times faster than the fastest missile currently available in the world and can hit a target 1,000 miles away within 14 inches from center point.
For the first time in 70 years, we established a new branch of the United States military: the Space Force. It’s a big deal.
In recent years, America’s warriors have made clear to all the high cost of threatening the American people. The savage ISIS caliphate has been 100 percent destroyed under the Trump administration, and its barbaric leader, al-Baghdadi, is gone, killed, over. And the world’s number-one terrorist, Qasem Soleimani, is likewise dead.
As Commander-in-Chief, I never forget for one instant the immense sacrifices we ask of those who wear this nation’s uniform. Already, you have known the crushing pain of losing a brother in arms. Today, we remember an extraordinary cadet who made the supreme sacrifice in an accident last year: C.J. Morgan. We are deeply moved to be joined by his father, Christopher Morgan. And C.J. was something very special. Christopher is a Secret Service Agent. A tough guy. Great guy. Great son, who is looking down right now. Christopher, I want you to know that we will carry C.J.’s blessed memory in our hearts forever. Thank you very much. (Applause.) Thank you.
Tomorrow, America will celebrate a very important anniversary: the 245th birthday of the United States Army. Unrelated, going to be my birthday also. (Laughter.) I don’t know if that happened by accident. Did that happen by accident, please? But it’s a great day because of that Army birthday.
And as you know, the Army’s first Commander-in-Chief, General George Washington, called the fort that stood on this majestic point “the most important post in America.” Its strategic location on the Hudson River was vital to our war for independence. If British ships gained control of this river, they would have divided our young nation in two. So American soldiers stretched a massive metal chain across the waters of the Hudson, from West Point all the way to Constitution Island. I saw a piece of that chain. It’s incredible. No enemy ship even dared try to cross. Every link in that great chain was formed from over 100 pounds of pure American iron, mined from American soil, and made with American pride. Together, those links formed an unbreakable line of defense.
Standing here before you more than two centuries later, it is clearer than ever that General Washington’s words still hold true. West Point is still the indispensable post for America, the vital ground that must not lose. And the survival of our nation still depends on a great chain reaching out from this place — one made not of iron, but of flesh and blood, of memory and spirit, of sheer faith and unyielding courage.
Today, each of you becomes another link in that unbroken chain, forged in the crucible known as the United States Military Academy, the greatest on Earth. It has given you soldiers that you can rely on to your right and to your left. And now we are entrusting you with the most noble task any warrior has ever had the privilege to carry out: the task of preserving American liberty.
As long as you remain loyal, faithful, and true, then our enemies don’t even stand a chance, our rights will never be stolen, our freedoms will never be trampled, our destiny will never be denied, and the United States of America will never be defeated. With the grace of God and the heroes of West Point, America will always prevail. Nothing will stand in your way, nothing will slow you down, and nothing will stop the West Point Class of 2020 from achieving a true and lasting victory.
God bless you. God bless the United States Army. And God bless America. Congratulations. Thank you very much. Thank you. (Applause.)
On Thursday President Trump sat down for an extensive interview with Fox News host Harris Faulkner while in Dallas Texas. The lengthy interview was broadcast Friday.
Ms. Faulkner uses subtlety to present her emotional perspectives as facts; however, within the wide-ranging interview President Trump focuses on common sense perspectives, approaches and sensible applications of policy surrounding U.S. law enforcement reform.
White House economic adviser Kevin Hassett appears on Fox News to discuss how the U.S. has been able to turn around the economy faster than expected. FED Chair Powell has a negative outlook on the economy (Powell supports Blue states), while President Trump has a positive outlook on the economy (Trump supports Red states).
Hassett admits the unusual internal dynamic around the Red States having strong economic growth but Blue States having negative results. Clearly this distinction is by design. Democrats are so blinded to their ideology they are willing to put their citizens through intentional economic hardship just so they can try to hurt the president.
The official business part of the RNC convention will still take place in Charlotte, North Carolina, presumably still August 24-27, with a limit of only six delegates per state permitted. The RNC already said the 2020 RNC platform will remain unchanged from the 2016 version. However, the fun events typically associated with conventions, such as Mr. Trump’s acceptance of the nomination, will now be held in Jacksonville, Florida.
According to the New York Times the acceptance speech and event will take place August 27th at the VyStar Veterans Memorial Arena, which holds 15,000 people. However, a note of caution… there is no official announcement of the Jacksonville date(s) from the RNC.
Earlier today, President Donald Trump participated in a roundtable with faith leaders, law enforcement officials, and small business owners at Gateway Church in Dallas, Texas.
Local participants include: Attorney General Ken Paxton, Texas; Vernell Dooley, Chief of Police, Glenn Heights, Texas; Michael Mata, President, Dallas Police Association; Fred Frazier, 1st Vice President, Dallas Police Association and Commissioner on the President’s Commission on Law Enforcement and the Administration of Justice; Jaime Castro, 3rd Vice President, Dallas Police Association; Manny Ramirez, President, Fort Worth Police Officers Association; Pastor Robert Morris, Senior Pastor, Gateway Church Bishop Harry Jackson, Senior Pastor at Hope Christian Church, Beltsville, Maryland; Dr. Robin Armstrong, Physician and Advisory Board Member; Jack Brewer, Chief Executive Officer of the Brewer Group; Jon Ponder, Founder of Hope for Prisoners and Will Douglas, Owner, Crimson Care Pharmacy Group
During the discussion Bill Barr gives his perspective of the issues as United States Attorney General:
If we think they’ve thrown the kitchen sink at us, just wait. The Trump campaign has announced the restart of Keep America Great rallies to begin in Tulsa Oklahoma on June 19th. [Tickets Here] And with that announcement we can immediately predict the apparatus of the resistance forces will once again start pushing the COVID-19 narrative.
My response, SCREW ‘EM.
I refuse to live on my knees.
“Rally to the standard” is a call to arms when a situation is critical, there is no time for lengthy debate, and optimal solutions are needed. The COVID-19 virus was weaponized for political purposes against us and our economy. Nothing they attempt now to try and retake that position should be taken seriously.
Decades of living with one foot in a flip-flop and the other in a wingtip lends itself to a rather odd set of life-skills and friendships; and we’re at the point where we each of us needs to ignore the nonsense and go about living our best life. We’re worth it.
President Trump is subjecting himself to ridiculous attacks by an insufferable corporate media press corps. The result of all these attacks has been to expose a resistance ideology that rots our nation; and now we can rally again behind him.
CTH is often criticized for being too accurate outlining the schemes, and not putting enough emphasis on what actions can be done -by ordinary Americans- to counteract the duplicity and corruption amid DC politicians. Well, last year we outlined exactly what YOU can do when we wrote “STAND“.
It is the responsibility of each of us to stand, defiantly if needed, and support a President who is waging a battle against multiple adversaries on our behalf. “Stand” means be visible. “Stand” means let your voice be heard. “Stand” means telling your republican representatives what your expectations are. They represent us; WE are the people.
Why is this important?
Well, we cannot, we must not, count on Republican politicians to do the right thing. If there is one lesson we have all learned through the years it is that our representatives will only do the right thing if We The People demand it… loudly.
As we bear witness, anyone trying to convince us this entire assembly of our union is headed in the right direction, well, they might want to revisit their proximity to the 2020 election ballpark. Because they’re not just out of the city – they’re also out of the same state the election ballpark is located in….. Then again, the media know that.
David Mamet had a famous saying, essentially: …‘in order for democrats, liberals, progressives et al to continue their illogical belief systems they have to pretend not to know a lot of things’… By pretending ‘not to know’ there is no guilt, no actual connection to conscience. Denial of truth allows easier trespass.
This hate-filled Democrat ideology relies on our willingness to accept their lies, falsehoods, and scripted presentations; and then demand we grant benefit amid their seeds of doubt.
The intelligence apparatus of our nation was weaponized against our candidate by those who controlled the levers of government. Now, with sanctimonious declarations they dismiss accountability.
Deliberate intent and prudence ensures we avoid failure. The course is thoughtful vigilance; it is a strategy devoid of emotion. The media can call us anything they want, it really doesn’t matter…. we’re far beyond the place where labels matter.
We’ve watched the ridiculing of cops, the riots, and the lack of support for laws, or their enforcement. We’ve been absorbing all that. We’ve been exposed to violence upon us by paid operatives of the organized DNC machine. We know; the media trying to hide it doesn’t change our level of information.
Cold Anger is not hatred, it is far more purposeful.
Foolishness and betrayal of our nation have served to reveal dangers within our present condition. Misplaced corrective action, regardless of intent, is neither safe nor wise. We know exactly who Donald Trump is, and we also know what he is not.
He is exactly what we need at this moment.
He is a necessary, defiant and glorious fighter.
He is our weapon.
Cold Anger is not driven to act in spite of itself; it drives a reckoning.
The awakened American middle-class insurgency, led by Donald Trump, is an existential threat to the professional political class and every entity who lives in/around the professional political class. Their entire political apparatus is threatened by our insurgency. The political industry, all of corrupt governance, is threatened by our support through Donald Trump.
Decision time.
You know why the entire apparatus is united against President Trump. You know why the corrupt Wall Street financial apparatus is united against President Trump. You know why every institutional department, every lobbyist, every K-Street dweller, every career legislative member, staffer, and the various downstream economic benefactors, including the corporate media, all of it – all the above, are united against Donald Trump.
Donald Trump is an existential threat to the existence of a corrupt DC system we have exposed to his disinfecting sunlight. Donald Trump is the existential threat to every entity who benefits from that corrupt and vile system.
This man has faced opposition that would overwhelm any other President. Our chosen President is constantly attacked by those holding a corrupt, conniving and Godless leftist ideology. It is our job now to stand with him, firm on his behalf.
To respond we must engage as an insurgency. We must modify our disposition to think like an insurgent. Insurgencies have nothing to lose. If insurgents are not victorious the system, which controls the dynamic, wins. However, if insurgents do nothing, the same system, which controls the dynamic, also wins.
Do nothing and we lose. Go to the mattresses, and we might win. The choice is ours.
Right now, through November 2020, every day is Saint Crispins day.
If we are mark’d to die, we are enow To do our country loss; and if to live, The fewer men, the greater share of honour. God’s will! I pray thee, wish not one man more. By Jove, I am not covetous for gold, Nor care I who doth feed upon my cost; It yearns me not if men my garments wear; Such outward things dwell not in my desires. But if it be a sin to covet honour, I am the most offending soul alive. No, faith, my coz, wish not a man from England. God’s peace! I would not lose so great an honour As one man more methinks would share from me For the best hope I have. O, do not wish one more! Rather proclaim it, Westmoreland, through my host, That he which hath no stomach to this fight, Let him depart; his passport shall be made, And crowns for convoy put into his purse; We would not die in that man’s company That fears his fellowship to die with us. This day is call’d the feast of Crispian. He that outlives this day, and comes safe home, Will stand a tip-toe when this day is nam’d, And rouse him at the name of Crispian. He that shall live this day, and see old age, Will yearly on the vigil feast his neighbours, And say ‘To-morrow is Saint Crispian.’ Then will he strip his sleeve and show his scars, And say ‘These wounds I had on Crispian’s day.’ Old men forget; yet all shall be forgot, But he’ll remember, with advantages, What feats he did that day. Then shall our names, Familiar in his mouth as household words- Harry the King, Bedford and Exeter, Warwick and Talbot, Salisbury and Gloucester- Be in their flowing cups freshly rememb’red. This story shall the good man teach his son; And Crispin Crispian shall ne’er go by, From this day to the ending of the world, But we in it shall be remembered- We few, we happy few, we band of brothers; For he to-day that sheds his blood with me Shall be my brother; be he ne’er so vile, This day shall gentle his condition; And gentlemen in England now-a-bed Shall think themselves accurs’d they were not here, And hold their manhoods cheap whiles any speaks That fought with us upon Saint Crispin’s day.
Throw aside the sense of discomfort and bear witness to the evil we oppose. Do not turn your eyes from the hatred focused in our direction. Stand firm amid the solace of our number and resolve to the task at hand.
Those who oppose our efforts are merely vile parasites quivering as they stare into the Cold Anger furnace of righteousness.
President Trump travels to Dallas, Texas, today to participates in a roundtable at the Gateway Church Dallas camput. The topic is the Transition to Greatness: Restoring, Rebuilding, and Renewing. Anticipated start time 4:00pm ET.
The COVID shutdown was an exceptional event. The consequences from the shutdown do have ripple effects; however, the strength of the underlying economic foundation is now coming back into focus as the rebound starts taking shape.
Last week most economic analysts were stunned by the 2.5 million jobs added to the economy in May. As we shared earlier, the result wasn’t so surprising when you consider the framework of the Paycheck Protection Program (PPP) worked exactly like President Trump and Treasury Secretary Mnuching planned. The incentives within the PPP program did what they were intended to do; small and mid-sized businesses retained or rehired their employees.
Inside the foundation of the Trump Main Street economy, the cement that binds the America-First policy, are a series of pre-established economic policies that specifically targets middle-class workers. The foundation is made strong by net wage gains and earnings amid mid-tier workers; those wage gains are made more important by policies that keep inflation in check.
Blue-collar workers, on average, were fortunately positioned to ride-out the COVID shutdown. With the shutdown over; Main Street now quickly fires back into action.
The demand for mortgage applications rose five percent last week, resulting in year-over-year growth over 13 percent. Again, this result stuns the experts. Demand for home purchases remains high and people are confident in their income security to make big decisions on home financing. The visible strength of Main Street cuts against the naysayers and doomsayers who thought the COVID shutdown would collapse the economy. It didn’t.
It did not, because (a) the shutdown was an exceptional event; and (b) the underlying foundation is stronger than the blow it took from the COVID sledgehammer.
(Via CNBC) “The recovery in the purchase market continues to gain steam, with the seasonally adjusted index rising to its highest level since January,” said Joel Kan, an MBA economist. “Purchase activity increased for the eighth straight week.”
Pent-up demand from the spring market, along with low interest rates are fueling a surprisingly quick recovery in home buying. As local economies open up, so do open houses, but there is still a severe shortage of homes for sale. (read more)
President Trump’s Main Street policies are directly responsible for the strength in the middle-class. The media apoplexy over stunningly positive economic news is directly related to how much damage a positive economy does to the Antifa/BLM strategy to divide our nation through class warfare. A thriving Main Street economy is antithetical to the objective.
A thriving Main Street means an expanding U.S. middle-class. As the middle-class expands it becomes more difficult to organize outrage based on division.
The ruling elites deny this fundamental truth, but the rust-belt did not create itself.
The erosion of the U.S. manufacturing base -and Main Street- was an outcome of policy. Both Republicans and Democrats participated in this process. Democrats claim, falsely, to be champions of the middle-class; but their narrative is refuted by the actual results of their policy. Both parties are deep in the pockets of Wall St multinationals.
Many people call for a third party in politics without realizing President Trump represents the first second party DC has seen in decades. That’s why he is opposed by both wings of the same legislative bird.
Through dependency the political elites begin their role to decide who gets what part of their limited and controlled economic pie. Economic intervention, supported by both wings, in the spending process is what has allowed political interests to retain control.
Main Street and the freedom within the free market is a problem for command and control economic systems. Wall St global financial systems, controlled by a limited number of large institutional multinationals, are much easier to control.
Remember the catch phrase “too big to fail” in the banking system? The DC ruling class said a small group of banks controlled too much wealth. So they instituted ‘banking reform’. The result was even fewer banks that were even bigger. The outcome was the exact opposite of what they said was the purpose. Their policy made the problem worse.
President Trump’s America First agenda is specifically a benefit to Main Street and the middle class. In the banking sector treasury policy and targeted deregulation focused on creating more community banks and credit unions to benefit Main Street. That’s exactly what happened. By focusing on Main Street, Trump and Mnuchin fixed what the uniparty congress did not. [Arguably, congress purposefully and willfully did not.] Smaller, more nimble, banks are now positioned to assist small and medium Main Street businesses.
President Trump’s domestic and global political opposition recognize that his trade and economic policies have reversed much of their control. There are trillions at stake, that’s the financial motive for the opposition. However, a lack of control over the economic outcome; meaning President Trump creating more pies; means not only do they lose control over the money, they also lose control through diminished political power.
America-First is a program focused on Main Street and it expands the middle class. That is why during President Trump’s first term the wealth gap actually started to narrow for the first time in decades. The wage growth for line-level or blue collar workers was/is rising faster than the supervisory wages. This is a uniquely trumpian effect from a return to economic policies that benefit Main Street USA workers.
More jobs means the value of labor to do those jobs increases. This economic path is against the interests of coastal elites and the politicians they pay to retain the wealth gap.
When the economy was shut-down by the COVID virus, it was an unnatural economic event. Everything inside the U.S. economy including: the number of workers; the growth in wage rates; the availability of jobs; the lack of inflation; the expansion of investment, was the strongest in our history. However, when everything was stalled all of that positive architecture, the policy that created the outcome, did not go away.
U.S. economic conditions were being driven by internal economic activity that was no longer as dependent on global drivers. When the underlying economic strength is domestic, it makes sense the economy can restart much faster because the activity is not dependent on outside global stimulus. In essence, the USA can rebound much faster because we are NOT dependent on the restart of other global economies. Again, another uniquely positive attribute that is enhanced by ‘America-First’ policies.
China, Obama, Pelosi and Schumer can, and did, attempt to throw a COVID wrench in the expanding U.S. economy. However, they cannot undo the foundation President Trump had already established. Those America-First policies will again work in our favor; and yes, when President Trump says he “can do it again” his confidence is based on that underlying foundation.
Trump may not articulate it, but he knows the U.S. economic independence he has already achieved through three years of advanced policy to benefit Main Street. He knows the trade agreements, the cutting of regulation, the unleashing of energy development and the weight of tariffs on imports all mean the best place for investment is inside the U.S.A.
That fundamental structure did not change, and is not going to change.
A recent example – Remember the previously mentioned policy focus on deregulated community banks and credit unions to assist Main Street? Perhaps a sidebar is important:
SIDEBAR: Trump and Mnuchin viewed the entire U.S. banking system as too monolithic and generally positioned to the benefit of Wall Street and not Main Street. As such their approach toward regulation was to split the regulatory financial system into two segments according to the size of the bank (or financial entity).
Big institutional banks (more than $10 billion) retained comprehensive regulation over their practices; however, smaller banks do not have the same level of regulatory and compliance mandates. This approach is the modern era financial outlook that, like MAGAnomics, is entirely new and bold.
“we do not support a separation of banks from investment banks, we think that would have a very significant problem on the financial markets, on the economy, on liquidity; and we think that there is proper things that potentially we could look at around regulation, but we do not support a separation of banks and investment banks.”
~ Treasury Secretary Steven Mnuchin testifying to the Senate Banking Committee, May 18th 2017
At first blush that statement from Secretary Mnuchin might seem to run counter to the Trump administration’s prior policy statements outlining a preference for a reinstatement of some form of “Glass-Steagall” regulatory separation between commercial banking and investment banking. However, it doesn’t.
When combined with the totality of Mnuchin’s testimony before the Senate Finance Committee, Mnuchin was saying the “too big to fail” (‘too big to succeed’) issue has created a problem for lending liquidity. Specifically, if divisional separation is required – the banks’ best interests would naturally put the investment division ahead of commercial lending and the liquid capital within the overall U.S. economy would shrink.
Back in July 2010 when Dodd-Frank banking regulation was passed into law, there were approximately 12 to 17 banks who fell under the definition of “too big to fail”.
Meaning 12 to 17 financial institutions could individually negatively impact the economy, and were going to force another TARP-type bailout if they failed in the future. Dodd-Frank regulations were supposed to ensure financial security, and the elimination of risk via taxpayer bailouts, by placing mandatory minimums on how much secure capital was required to be held in order to operate “a bank”.
One large downside to Dodd-Frank was that in order to hold the required capital, all banks decreased lending to shore-up their liquid holdings and meet the regulatory minimums.
Without the ability to borrow funds, small businesses had a hard time raising money to modernize or create new business. In the big picture, growth in the larger economy is hampered by the absence of capital.
Another downstream effect of banks needing to increase their liquid holdings was exponentially worse. Less liquid large banks needed to purchase and absorb the financial assets of more liquid large banks in order to meet the regulatory requirements. Indeed this is exactly what happened.
In 2010 there were approximately twelve “too big to fail banks”, and that was seen as a risk within the economy, and more broad-based banking competition was needed to be more secure.
Unfortunately, because of Dodd-Frank, by 2016 those twelve banks had merged into only four even bigger banks that were now even bigger risks; albeit supposedly more financially secure in their liquid holdings. This ‘less banks’ reality was opposite of the desired effect.
The four to six big banks (JP Morgan-Chase, Bank of America, Citigroup, Wells Fargo, US BanCorp and Mellon) now control $9+ trillion (that’s “TRILLION). Their size is so enormous that small number of banks now control most of the U.S. financial market.
Because they control so much of the financial market, instituting a Glass-Steagall firewall between commercial and investment divisions (in addition to the Dodd-Frank liquid holding requirements), would mean the capability of small and mid-size businesses to get the loans needed to expand or even keep their operations running would stop.
2010’s “Too few, too big to fail” became 2016’s “EVEN FEWER, EVEN BIGGER to fail”.
That’s the underlying problem for a Glass-Steagall type of regulation now. The Democrats created Dodd-Frank which:
•#1 generated constraints on the economy (less lending),
•#2 made fewer banking options available (banks merged),
•#3 made top banks even bigger.
This problem is why President Trump and Secretary Mnuchin created a parallel banking system of smaller community and credit union banks that are external to Dodd Frank regulations and can act as the primary commercial banks for small to mid-sized businesses, ie. “Main Street”.
This intended banking design of smaller, more connected to Main Street lending, is why President Trump and Secretary Mnuchin did not support the CFPB banking rule that allowed lawsuits against all financial entities.
The goal of “Glass Steagall”, ie. Commercial division -vs- Investment division, is actually being achieved by generating an entirely new system of banks under different regulation. The currently remaining ten U.S. “big banks” operate as “investment division banks” per se’, and are subject to larger regulatory requirements. However, the lesser regulated community banks/credit unions operate as the “Commercial Side” benefiting Main Street.
Instead of fire-walling an individual bank internally within its organization, the Trump/Mnuchin plan actually created a fire-wall the banking ‘system’ within the U.S. internally. Hope that makes sense. SIDEBAR ENDS –
The success and efficiency of the Paycheck Protection Program for small and medium business was a direct result of that earlier banking regulation and policy change. Brilliantly, Mnuchin used the architecture of the FDIC system to guarantee the loans so the small nimble banks could move quickly. The FDIC was used an an underwriter of sorts for the affiliated lenders; and removed any risk.
PPP borrowers who use small to mid-sized banks or local credit unions were able to get fast access to the funds and retain or re-employ their workforce. Those businesses who operate through the big banks, did not get the same responsiveness. [Again, a good lesson for small business owners…. keep your banking as local as possible.]
The rapid response rate for PPP loans by smaller banks is specifically and directly responsible for the May jobs result of 2.5 million gains. Even in crisis the America-First foresight pays dividends.
The far left is hoping to curtail the strength of the economy; that’s why the blue state governors are fighting against reopening. However, the organized protests of thousands of people gathering together have made their best COVID shutdown arguments moot.
We must not allow the media and politicians to demand keeping restrictions on the economy when we know the underling control mechanism, the social distancing effort, was entirely based on politics. Their support for the protest crowds proves that point.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
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