Council of Economic Advisers Chairman Kevin Hassett appears on Fox business to discuss the excellent October jobs report and U.S. trade talks with China.

The Bureau of Labor Statistics (BLS) releases the October 2018 jobs report and the Ju-Ju bones are jumpin’. A quarter million new jobs created, vastly exceeding all expectations. Every sector increased in jobs:

Total nonfarm payroll employment increased by 250,000 in October, following an average monthly gain of 211,000 over the prior 12 months. In October, job growth occurred in health care, in manufacturing, in construction, and in transportation and warehousing. (See table B-1.)

Health care added 36,000 jobs in October. Within the industry, employment growth occurred in hospitals (+13,000) and in nursing and residential care facilities (+8,000). Employment in ambulatory health care services continued to trend up
(+14,000). Over the past 12 months, health care employment grew by 323,000.

In October, employment in manufacturing increased by 32,000. Most of the increase occurred in durable goods manufacturing, with a gain in transportation equipment (+10,000). Manufacturing has added 296,000 jobs over the year, largely in durable goods industries.

Construction employment rose by 30,000 in October, with nearly half of the gain occurring among residential specialty trade contractors (+14,000). Over the year, construction has added 330,000 jobs.

Transportation and warehousing added 25,000 jobs in October. Within the industry, employment growth occurred in couriers and messengers (+8,000) and in warehousing and storage (+8,000). Over the year, employment in transportation and warehousing has increased by 184,000.

Employment in leisure and hospitality edged up in October (+42,000). Employment was unchanged in September, likely reflecting the impact of Hurricane Florence. The average gain for the 2 months combined (+21,000) was the same as the average monthly
gain in the industry for the 12-month period prior to September.

In October, employment in professional and business services continued to trend up (+35,000). Over the year, the industry has added 516,000 jobs.

Employment in mining also continued to trend up over the month (+5,000). The industry has added 65,000 jobs over the year, with most of the gain in support activities for mining.

In October, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $27.30. Over the year, average hourly earnings have increased by 83 cents, or 3.1 percent. Average hourly earnings of private-sector production and
nonsupervisory employees increased by 7 cents to $22.89 in October. (more data)

Vice President Mike Pence tells FOX Business’ Trish Regan the migrant caravan heading toward the U.S. southern border was organized by leftist groups in Honduras, and central America, and is partially financed by Venezuela.

Reports from European media that Croatian nationalist President Kolinda Grabar-Kitarovic will follow with the United States, Hungary and Austria and dismiss the United Nations latest global migration agreement.

(Voices of Europe) Croatian President Kolinda Grabar-Kitarovic will not sign the UN’s Global Compact for Migration (GCM), Croatian newsportal Direktno reports.

The website bases the decision on a Facebook post by Croatian TV journalist Velimir Bujanec. He asked her position on the GCM after a lot of people we’re interested in her stance.

In the answer his editorial board received, President Grabar-Kitarovic states: “Be assured I will not sign the ‘Marrakech Agreement’” (link)

Meanwhile in semi-related international news, Brazil’s president-elect Jair Bolsonaro has announced his intention to move Brazil’s embassy in Israel to Jerusalem.

Earlier today President Donald Trump delivered remarks surrounding the current state of U.S. immigration policy [initiatives here] and the approaching Central American migration.  There are approximately four migration groups traveling north.

Tonight President Donald J. Trump is holding a MAGA campaign rally at Columbia Regional Airport Hangar 350 in Columbia, MO.  President Trump is in Missouri campaigning for Republican Josh Hawley, who hopes to unseat Democratic incumbent Senator Claire McCaskill.  Anticipated arrival time for the President is 7:30pm EST / 6:30pm CST with pre-rally speakers and events ongoing.

UPDATE: Video Added

RSBN Livestream Link – Fox News Livestream Link – Alternate Livestream Link

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Ever since candidate Trump announced his intent to run for the presidency in 2015, CTH has mapped out the economic possibilities of applied MAGAnomic policy.  Once you absorb the ramifications within the intentional policy shift from Wall Street (global) to Main Street (America first), every downstream result is essentially common sense.

• Part 1 – Why I support Donald Trump – July 2015
• Part 2 – Why I support Donald Trump – August 2015
• Part 3 – Why I support Donald Trump – September 2015

One of the reasons the professional political class hate Trump is simply because he applies common sense policy built upon the cornerstone of America-first. Decades of pontificating political economic policy are dispatched; and the American economic engine roars.

The Wall Street Journal is reporting, and several media confirming, the likely nominee to replace U.N. Secretary Nikki Haley will be current State Department Spokesperson Heather Nauert.

WASHINGTON—President Trump is expected to nominate Heather Nauert as the U.S. ambassador to the United Nations, a senior administration official said.

Ms. Nauert, a former Fox News correspondent, joined the Trump administration last year and is currently the chief communications official at the State Department.

It is worth noting the date, time and general information released within an innocuous tweet today from President Donald Trump:

The geopolitical confrontation between the U.S. and China is the big picture.  There is a tremendous amount of noise surrounding other media-advanced current events; but the real issue of generational consequence is between President Trump and Chairman Xi.

In advance of the midterm election Beijing pulled-back as part of their strategy to wait out the results from the U.S. midterm election.  The ‘Red Dragon‘ play was to reengage after Trump after the election hoping for a weakened enemy.

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

The red 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 red dragon hides behind the panda mask.

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 Chairman 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.

President Trump is putting on a MASSIVE economic squeeze.

♦Squeeze #1. President Trump and Treasury Secretary Mnuchin sanctioned Venezuela and cut off their access to expanded state owned oil revenue. Venezuela needs more money. China and Russia are already leveraged to the gills in Venezuela and hold 49% of Citgo as collateral for loans outstanding.  China and Russia now need to loan more, directly.

However, China cannot engage in economic commerce with Venezuela or they risk losing access to the U.S. banking system.  Therefore all current Chinese aid to Maduro comes in the form of IOUs.  These ongoing loans are likely impossible to be repaid.

♦Squeeze #2. China’s geopolitical ally, Russia, is already squeezed with losses in energy revenue because of President Trump’s approach toward oil, LNG and coal. Trump, through allies including Saudi Arabia, EU, France (North Africa energy), and domestic production has influenced global energy prices.  Additionally, President Trump is demanding NATO countries, specifically Germany, stop supporting financial dependence on Russia.

Meanwhile, and directly connected, Russia is bleeding out financially in Syria. Iran is the financial reserve, but they too are energy price dependent and President Trump is now putting pressure on Iran vis-a-vis new sanctions and new demands on allies.

♦Squeeze #3. In 2017 Trump and Secretary Tillerson, now Secretary Pompeo, put Pakistan on notice they need to get involved in bringing their enabled tribal “extremists” (Taliban) to the table in Afghanistan. Pakistan’s primary investor and economic partner is China. The U.S. removed $900 million in financial support to pressure Pakistan toward a political solution in Afghanistan, China has to fill void.  [NOTE: Last month the World Bank began discussions about a financial bailout for Pakistan.]  Again, more one-way bleed for China.

♦Squeeze #4. China’s primary economic threat (competition) is next door in India. President Trump has embraced India as leverage over China in trade and pledged ongoing favorable trade deals. The key play is MFN (Most Favored Nation) trade status might flip from China to India. That’s a big play.  It would have massive ramifications.

♦Squeeze #5. President Trump launched a USTR Section 301 Trade Investigation into China’s theft of intellectual property. This encompasses every U.S. entity that does manufacturing business with China, particularly aeronautics and technology, and also reaches into the financial services sector.

In March of 2018 U.S. Trade Representative Robert Lighthizer completed a section 301 review of China’s trade practices.  [SEE HERE] Section 301 of the U.S. Trade Act of 1974 authorizes the President to take all appropriate action, including retaliation, to obtain the removal of any act, policy, or practice of a foreign government that violates an international trade agreement or is unjustified, unreasonable, or discriminatory, and that burdens or restricts U.S. commerce.  However, as talks with China progressed, President Trump shelved the 301 action to see where negotiations would end-up. The May and June, 2018, negotiations between the U.S. and China provided no progress.  The 301 review of China was pulled back off the shelf, and President Trump assembles his trade-war strategy.  The 301 tariffs/sanctions are currently being worked out with U.S.T.R Robert Lighthizer.

♦Squeeze #6. President Trump, Secretary Ross, Secretary Mnuchin and USTR Robert Lighthizer dissolved NAFTA. One of the primary objectives of team U.S.A. was to close the 3rd party loopholes, including dumping and origination, that China uses to gain backdoor access to the U.S. market and avoid trade/tariff restrictions. [China sends parts to Mexico and Canada for assembly and then back-door entry into the U.S. via NAFTA.]

(USMCA – Link) – [Full Details]

♦Squeeze #7. President Trump has been open, visible and vocal about his intention to shift to bilateral trade renegotiation with China and Southeast Asia immediately after Team U.S.A. concludes with NAFTA. [Current discussions with Japan are ongoing]

♦Squeeze #8. President Trump positioned the U.S. relationship with the E.U. as a massive potential loss for Europe (via Steel, Aluminum, and Auto tariffs) if they did not: (A) shift their trade relationship toward greater reciprocity; and (B) reconsider the size of their trade relationship with China.  After initially trying to push-back, Europe acquiesced.

♦Squeeze #9. President Trump has positioned ASEAN (Association of Southeast Asian Nations) as trade benefactors for assistance with North Korea. Last year the KORUS (South Korea and U.S.) trade deal was renegotiated, and announced in March. The relationship between ASEAN nations and the Trump administration is very strong, and getting stronger. Which leads to…

♦Squeeze #10. President Trump has formed an economic and national security alliance with Shinzo Abe of Japan. It is not accidental that North Korea’s Kim Jong-un fired his last missile over the Northern part of Japan. Quite simply, Beijing told him to.  However…

♦Squeeze #11. President Trump cut-off the duplicitous Beijing influence over North Korea by engaging directly with Kim Jong-un.  The open exchange and ongoing dialogue has removed much of the ability of Beijing to leverage the DPRK nuclear threat for their own economic benefit.  This dialogue was as much, if not more, about dismantling the Beijing geopolitical influence as it was about denuclearizing the Korean peninsula.  However, no-one caught on to that part of the strategy.