The CFPB was constructed by Elizabeth Warren and her progressive ideologues as an extra-constitutional government agency.  This was entirely by design.

The CFPB had two two primary, albeit unspoken, functions.  First, it was structured as a holding center for fines and assessments against any financial organizations opposed by progressives.  Second, it was a distribution hub for the received funds to be transferred to political allies and groups supportive of progressive causes.

To pull off this scheme Elizabeth Warren et al ensured it was structured to allow no congressional oversight; however, it was also structured to have no executive branch oversight – and the funding mechanism for the CFPB budget was directly through the federal reserve.  The lack of any legislative or executive branch oversight made the entire scheme unconstitutional according to an earlier court decision.

The CFPB defenders then appealed the decision to a select appellate court in Washington DC to continue the construct.  The Warren crew won the appeal; but today, in an unrelated jurisdictional ruling a New York judge affirmed the minority opinion setting up a possible supreme court pathway to get a final decision.

NEW YORK (AP) – The U.S. government’s beleaguered consumer finance watchdog agency is unconstitutionally structured, a judge said Thursday as she disqualified the agency from serving as a plaintiff in a lawsuit.

U.S. District Judge Loretta A. Preska in Manhattan reached the conclusion about the Consumer Financial Protection Bureau in a written decision.

Her ruling related to a lawsuit brought against companies loaning money to former National Football League players awaiting payouts from the settlement of a concussion-related lawsuit and to individuals slated to receive money for injuries sustained when they helped in the World Trade Center site cleanup after the Sept. 11, 2001, terrorist attacks.

She let claims brought by the New York State attorney general proceed, but dismissed those that were brought by the CPFB, saying it “lacks authority to bring this enforcement action because its composition violates the Constitution’s separation of powers.”

In ruling, Preska sided with three judges who dissented from the six-judge majority in a January ruling by the U.S. Court of Appeals in Washington. The majority found that the agency director’s power is not excessive and that the president should not have freer rein to fire that person.  (read more)

CFPB Interim Director Mick Mulvaney has already said the CFPB needs to be disassembled.

Taking the agency down is perfectly ok with the Trump administration.

Office of Management and Budget Direct Mick Mulvaney had a break-out session during the White House cabinet meeting today where he discussed part of the government restructuring and reform proposals.

We have waited a long time for this type of common sense initiative.  This is MAGA.  Some will say it can’t be done; however, if it is not attempted it most certainly will never be done. As President Trump has shared for years: “the impossible is only the starting point”; and I would not bet against this administration actually getting this accomplished.  WATCH:

First Lady Melania Trump took an unexpected visit to McAllen, Texas, today planning to visit two immigrant holding facilities where children are being housed following their illegal entry into the U.S.  The trip gave our first lady an opportunity to address officials in Texas.

“Thank you for all you do,” she told officials as she started the meeting. “Thank you so much for having me today. I’m glad I’m here and looking forward to meeting the children.” “I’d also like to ask you how I can help reunite these children with their families as quickly as possible,” she added.

When getting on a government plane at Andrews Air Force Base she wore a $39 Zara military jacket with the extraordinary message printed on the back: ‘I don’t care, do u?’

Her spokesperson said it was just a jacket.  ‘It’s a jacket. There was no hidden message. After today’s important visit to Texas, I hope this isn’t what the media is going to choose to focus on,’ Melania Trump’s communications director Stephanie Grisham told the DailyMail.com in a statement.  The first lady said she was happy to be visiting the kids.  (more)

Back in May of 2017, President Trump tasked the Office of Management and Budgets to work with all government agencies to streamline, consolidate, and improve our Federal government and make it more efficient, effective, and accountable to Americans.

Today OMB Director Mick Mulvaney begins outlining the Government Reform plan and the results of the 13-month-long review.  Introducing common sense solutions that put the American taxpayers first:

U.S. Commerce Secretary Wilbur Ross gives an interview with CNBC about how the administration’s ongoing trade initiatives are addressing U.S. products and interactions with ongoing congressional stakeholders.

One of the more recent globalist (Wall Street) approaches to fend-off President Trump’s America First trade reset has been to target the ethical position of Secretary Ross; within the interview Ross swats away press reports about his current and prior investments.

This win needs to be sipped slowly for maximum enjoyment.  

First, we would draw your attention to May 23rd, when President Trump announced an instruction to Commerce Secretary Wilbur Ross to begin a Section 301 review of the auto industry a week prior to the implementation of the Steel and Aluminum tariffs.

At the time when all media were discussing other ‘matters’ CTH pointed out the strategy that was visible in the Auto-Sector.  China, the EU (specifically Germany), and Canada were the strategic trade targets in the approach.  About a week later, Canadian Foreign Minister Chrystia Freeland snarkily announced her “sisterhood in trade” with EU Trade Minister Cecilia Malström, and how together they formed a strategy and were going to block President Trump.  They were very pleased with themselves (please watch).

Freeland and Prime Minister Justin from Canada, then strategized with Emmanuel from France and Angela from Germany on how they were going to use the G7 to embarrass President Trump on trade conflict issues via the summit; and subsequent use of media press conferences.  The entire thing back-fired, bigly.  President Trump announced the tariffs would continue until trade reciprocity improved.

Well, it’s been two weeks since the best-laid-scheme was attempted.  In the interim, the international audience has watched President Trump’s unrelenting approach toward China.

In the grand-trade-conflict; China is a big fight none of the sideline players would ever attempt.  However, the downstream consequence of the international trade team watching intently is their realization that President Trump is not bluffing.  You can hear the proverbial gulps from across the Atlantic; and the tremors up North.

Back to May 23rd, 2018, and remember the auto tariff proposal.  President Trump has made it clear that he’s more than willing to use reciprocal trade tariffs against all trade partners in getting fair and balanced trade.  He ain’t bluffing.

Well, guess what just happened?

Yup, Germany, without consulting with Emmanuel from France, just unilaterally announce the EU is willing to drop all trade tariffs against U.S. auto manufacturers as part of their strategy to fend-off steel, aluminum and crushing auto tariffs.

BERLIN—Germany’s leading auto makers have thrown their support behind the abolition of all import tariffs for cars between the European Union and the U.S. in an effort to find a peaceful solution to the brewing trade war.

The U.S. ambassador to Germany, Richard Grenell, brought the proposal for a broader industry trade pact to the Trump administration on Wednesday, according to people familiar with the situation.

Don’t overlook Angela Merkel making this announcement without consulting with Emmanuel Macron.  The German auto-sector is vital to the German economy.  Lose the support of the auto industry in Germany and Chancellor Merkel is toast.

Chancellor Merkel controls mini-brie Macron.

Emmanuel gets no respect (LOL).

What comes next?

How about the knee from Ms. Freeland’s “sister in trade“, Cecilia Malström:

(link to article)

WELLINGTON (Reuters) – The European Union is ready to engage with the United States to solve a trade row triggered by Washington’s decision to impose metal impose tariffs, E.U. Trade Commissioner Cecilia Malmstrom said on Thursday.

“We are always open to talk with the U.S. The whole EU is based on the idea that we talk,” she told a seminar. She described the tariffs as “illegal” as they contravened World Trade Organization (WTO) rules.  She also said the WTO needs rules to address China’s subsidies and dumping of its goods in markets.

Oh, that winnamin is extra tasty….

The EU is now leaving Canada naked to the trade monster that is the indefatigable Trump.  TTFN, it’s every snobby economic minister for themselves.

We must look at that video of Freeland again; just to savor the smugness of it all.

Ha,.. Ha,… Ha… stop, yer killin’ me.

Oh the winnamin.  Perfect.

Now, the EU -Germany specifically- might seem like they are attempting to gain some leverage equity here; but really they don’t get any.  U.S. automakers gain no short-term benefit from the EU dropping restrictive trade tariffs because Ford, and GM were forced to open plants in the EU to sell vehicles (prior best interests).  The benefit to dropping the 10% tariff on American autos is really non-existent; it’s the threat of the 25% Trump tariff on German autos that has the entire sector panicked.

Jaw agape Merkel never thought vulgarian Trump would ever follow through on the 25% auto tariff, until she just saw Trump go from $50 billion against China to the whopping $200 billion tariff he just announced.

When you plant your tree in another man’s orchard, you might end up paying for your own apples; it’s a risk you take…

Gadzooks, that,…. that…. that Trump, he’s serious.

However, as mentioned, there’s no gained leverage for Germany in putting dropped tariffs on U.S. autos on the table.  Almost all of the benefit is on the EU side of that proposal; and U.S. auto workers won’t gain.  Fraulein Merkel better quickly start adding to her NATO defense funding and reconsider her opposition to the Iran deal withdrawal.

Commerce Secretary Wilbur Ross is the one handling the EU trade discussion; while Lighthizer and Navarro focus on NAFTA (all three involved in China).  It is going to take much more equity on the table from the EU side for Secretary Ross to take a deal.

Hilariously, in response to Merkel’s proclaiming a zero tariff proposal; the CEO of Volvo, a Swedish brand owned by the Chinese, is well positioned to benefit because Volvo are about to launch production inside the U.S. with plans of export to the EU.  Conversely, on the losing side, GM shifted to making cars in China (Buick Encore), and Trump is nailing them with a 25% tariff.

All foreign automakers with limited U.S. operations are seriously concerned that Trump’s auto tariff threats will hurt their sales and profits, and the only way to avoid losing market share is to shift production investment into the U.S; or back into the U.S.

Strategery.

Back to Canada, and the ill-fated, now back-fired, scheme of Justin and Chrystia; standing naked and alone, as the reality of national economic interests has their former anti-Trump trade allies headed for the exits to save their industries.

Yikes, amid all of Canada’s uppity antagonism and demands for gender equity in NAFTA trade negotiations now they’re seriously exposed and more vulnerable than ever to Godzilla Trump and his “killers’.  The sight of a grinning Robert Lighthizer demands another slowly savored winnamin…. delicious.

Yup, the Canadian reality is beginning to sink in.

Stay With It:

.

What Canadians are only just beginning to realize is that Trump doesn’t bluff; he really means this stuff…  Trade equity is part of President Trump’s DNA profile.

So we should keep an eye on Justin and Chrystia…  My guess is, given the political stunt the Canadian duo just pulled at the G7 – President Trump is not inclined to take the lumps out of this one.  It is increasingly likely that POTUS might quietly remove those 1 million imported Canadian autos from their manufacturing base and deliver them to Michigan, Pennsylvania and Ohio.

Actions have consequences.

Leverage; he is the master at it.

Prior to attending a rally in Duluth Minnesota, President Trump attended a business and worker roundtable discussion to hear from business leadership in Northeast Minnesota.