The Trump campaign has announced a MAGA rally for Saturday April 28th in Washington, MI, the same night and time as the White House Correspondent’s Dinner 07:00 pm (EST). The rally venue is Total Sports Park, and doors open at 4pm EST.
Total Sports Park – 65665 Powell Road, Washington, MI 48095 Doors open 4:00pm and rally start time 7:00pm.
After a round of golf together earlier today President Trump joins with Vice President Mike Pence to host Prime Minister Shinzo Abe and his delegation for a working lunch between close allies. Japan is well positioned for a golden-trade-ticket. A joint press conference will follow later in the day.
QUESTION: Mr. Armstrong, regarding your recent post about War, does this topic also relate to some hidden agenda about decreasing the world population?
Thank you as always for your insight!
Yours, JL
ANSWER: There does not appear to be such a coordinated agenda. This is a few agencies who fear they are becoming redundant like NATO and need to create a situation to justify their existence. Furthermore, it also involves intelligence and military agencies in a few countries that need to also show their importance. There is no grand scheme to create World War III. This is unfolding as a series of events that are being justified for separate distinct reasons.
Trump needs to appear hardline against Putin to demonstrate that he is NOT beholding to Putin for rigging the elect6ion as Hillary has told the world. Trump is misguided on Trade, as every other politician has been since World War II. That has awakened the sleeping giant of China, whose debt to GDP exceeded 250% going into the end of 2017 compared to 103.7% for the USA going into the end of 2017. It was stupid to attack China for an international trade deficit before anyone took the chance to actually investigate the numbers,
QUESTION: The coalition agreement in Germany provided for criminal sanctions against companies of any size. Naturally, the large companies can withstand such an attack. Small business cannot. Do you see this as another push over the cliff for Europe since Germany is the pillar of the EU economy?
Thank you from Berlin
HS
ANSWER: Unfortunately, this new provision was demanded by the SPD. It allows for major suits through the back door which will destroy small business and expose them to financial risks that may make it just impossible to do business. Major companies like VW can weather the storm of a criminal action. This allows even for antitrust proceedings in price agreements. People will be able to allege and off you go on with years of investigation that may lead even nowhere. Even the closure of a production plant that violates environmental guidelines will be actionable. The list goes on and on. While the administrative offense law can impose fines. here we are looking at actually criminal prosecutions. When criminal actions become profitable to the accusor, tyranny flourishes.
This is one more step at the exact wrong moment that will only further restrain economic growth when it becomes too risky for small business.
The SPD in Germany is a left-wing socialist party that still believes in exploiting the rich in true Marxist fashion. Now that the SPD gained power in a coalition with Merkel, the German economy is in perfect alignment with our Economic Confidence Model pointjng down into 2020. The SPD leadership has made it very clear that they will raise taxes on the rich out of fairness as they see it for everyone should have the same net income at the end of the day. They call this “fairer financing of state tasks and a correction of social inequalities.”
The SPD will now push its tax policy ahead to the detriment of Germany and Europe as a whole. Despite all the historical evidence that raising taxes reduces jobs and economic benefits for the people, they just cannot escape the idea that someone has more than they do and to hell with the studies. They will also go after not just high incomes, but are looking at asset taxes and of course their most hated practice of all – leaving something for your children. They intend to raise inheritance taxes to fund state tasks which is really a code word for state pensions.
So far, the SPD has not publicly stated which citizens are the rich. This has always been a huge problem. Even in the USA, the definition of the rich started at $5 million and has moved down to $250,000, and then it has moved down to a household income of $250,000. The easy way to raise taxes is to constantly redefine who are the rich by lowering that definition and then apply it to household income. The day most likely will come when it is applied to children earning income while still living at home. The hard internal struggle to create a new the grand coalition with the CDU will have a devastating impact economically upon Germany. The SPD now finally gets control to impose their socialist agenda.
The upper house in Britain has overruled the people trying to keep the UK in the EU which would destroy the British economy. The upper House of Parliament backed calls to remain in the EU customs union after Brexit. The House of Lords voted 348 to 225 to amend the government’s EU Withdrawal Bill in a real insane move. This will now return to the House of Commons where the defeat is likely to spur renewed opposition to the whole BREXIT issue.
The amendment would now require the government to report to Parliament by October 31st on exactly what steps it has taken to remain in the customs union. This vote clearly shows that the House of Lords is seriously out of touch with economic reality. London is the financial center and it is THE market that dwarfs all of Europe combined. The entire posturing of Brussels to try to take trading the Euro away from Britain is based upon the fear that they can not control the Euro. They have outlawed shorting government bonds and they would like that power over the currency as well.
By tinkering with the Free Trade portion, they are disrupting the entire process and laying the seeds to overturn BREXIT entirely. Thank God Maggie is not here to witness these machinations. She was devastated when her cabinet stabbed her in the back to try to take the pound into the Euro. Had it not been for the attack on the pound which forced it to leave the ERM, Britain would have been completely destroyed by John Major’s government. They just do not comprehend what Europe is all about – Maggie did!
During the Easter holiday weekend, CIA Director Mike Pompeo traveled to Pyongyang North Korea and met with Kim Jong Un, laying the groundwork for an upcoming summit between Kim and President Trump. There were no leaks about the meeting.
“We’ll either have a very good meeting or we won’t have a good meeting; and maybe we won’t even have a meeting at all, depending on what’s going in. But I think that there’s a great chance to solve a world problem.” ~ President Trump
While the majority keep bashing the Federal Reserve, other central banks seem to escape any criticism. The European Central Bank under Mario Draghi has engaged in what history will call the Great Monetary Experiment of the 21st Century – the daring experiment of negative interest rates. A look behind the scenes reveals that this experiment has been not just a failure, it has undermined the entire global economic structure. We are looking at pension funds being driven into insolvency as the traditional asset allocation model of 60% equity 40% bonds has failed to secure the future with negative interest rates. Then, the ECB has exceeded 40% ownership of Eurozone government debt. The ECB realizes it can not only sell any of its holdings ever again, it cannot even refuse to reinvest what it has already bought when those bonds expire. The Fed has announced it will not reinvest anything. Draghi is trapped. He cannot stop buying government debt for if he does, interest rates will soar. He cannot escape this crisis and it is not going to end nicely.
When this policy collapses, forced by the free markets (no bid), CONFIDENCE will collapse rapidly. Once people no longer believe the central banks can control anything, the end has arrived. We will be looking at the time at the WEC. We will be answering the question – Can a central bank actually fail?
When government attempt to persuade the people to their side, the rhetoric becomes so blatant it is stunning that so many people just believe what they are told. The typical tactic is always to paint your enemy as some “monster” as Trump just called Assad. You must always demean an opponent and the simple fact that they engage in that tactic exposes the sad fact that this is a deliberate manipulation. When it comes to the Russian President Vladimir Putin, the West portrays him as a dictator, strongman, bad person, and some sort of crazed Russian patriot who wants to dominate the world somehow. All this rhetoric is what we call phase ONE, laying the seeds to justify engaging in war.
This Reuters article is framed around Mexico making a surprise announcement they will support the U.S. steel tariff against China by shutting down the NAFTA back door on that specific trade segment…. However, the bigger story is Mexico’s admission/concession to the U.S. trade position that Canada and Mexico structure access to the U.S. market inside their trade deals with other nations.
With a Marxist about to win the July 1st election; and with certain nationalization of private industry soon to follow; and with free capital markets anticipating and responding by shifting investment into the U.S.; Mexico proposes to close the fatal flaw in NAFTA.
MEXICO CITY (Reuters) – The ministers leading the renegotiation of the North American Free Trade Agreement (NAFTA) could meet again on Thursday in Washington as they push for quick progress, Mexican Economy Minister Ildefonso Guajardo said on Monday.
Guajardo said he had spoken to Canadian Foreign Minister Chrystia Freeland on Monday and would talk to U.S. Trade Representative Robert Lighthizer on Tuesday to see about agreeing a trilateral meeting in Washington on Thursday.
Speaking after meeting with steel industry executives, Guajardo also said if that the United States imposed steel tariffs, Mexico might seek to mirror the move against some countries in order to prevent them from using Mexico to elude the duties.
Teams of trade experts from the United States, Mexico and Canada have been meeting for weeks to try to narrow their differences on NAFTA, and Guajardo said a total of 10 chapters of a revised deal were now concluded or virtually settled.
But he did not expect major announcements on Thursday. “Thursday is about starting to work through the list of issues pending. The truth is the horizon going forward is a horizon of a couple of weeks,” Guajardo told reporters.
By shipping parts to Mexico and/or Canada; and by deploying satellite manufacturing and assembly facilities in Canada and/or Mexico; China, Asia and to a lesser extent EU corporations, exploited a loophole.
Through a process of building, assembling or manufacturing their products in Mexico/Canada those foreign corporations can skirt U.S. trade tariffs and direct U.S. trade agreements. The finished foreign products entered the U.S. under NAFTA rules.
Why deal with the U.S. when you can just deal with Mexico, and use NAFTA rules to ship your product directly into the U.S. market?
This exploitative approach, a backdoor to the U.S. market, was the primary reason for massive foreign investment in Canada and Mexico; it was also the primary reason why candidate Donald Trump, now President Donald Trump, wanted to shut down that loophole and renegotiate NAFTA.
This loophole was the primary reason for U.S. manufacturers to relocate operations to Mexico. Corporations within the U.S. Auto-Sector could enhance profits by building in Mexico or Canada using parts imported from Asia/China. The labor factor was not as big an aspect of the overall cost consideration as cheaper parts and imported raw materials.
All nuanced trade-sector issues put aside, the larger issue was always how third-party nations will seek to gain access to the U.S. market through Canada and Mexico. [It is the NAFTA exploitation loophole which has severely damaged the U.S. manufacturing base.] That’s why this trade admission by Canada and Mexico is stunning.
[…] U.S. President Donald Trump has driven the renegotiation of NAFTA, arguing that the deal has hollowed out American manufacturing to the advantage of lower-cost Mexico.
Trump has threatened to use other measures, such as slapping import tariffs of 25 percent on steel and 10 percent on aluminum, to gain leverage over Mexico and Canada in the NAFTA talks. Both countries have been initially exempted from the tariffs.
Guajardo said that if Mexico remained exempt, the government would consider mirroring any U.S. tariffs on countries with which Mexico did not have a free trade agreement.
Otherwise Mexico could become a “back door” for Asian imports the United States wanted to discourage, Guajardo said. (read more)
Oh SNAP.
That is one heck of an admission. However, the qualifier: “on countries with which Mexico did not have a free trade agreement“… is sketchy. Yet even within that qualifier Mexico and Canada are admitting to their exploitation; that’s a big admission.
We shall wait and see where this new development goes, because there’s no way that Trump and Lightizer are going to watch Mexico and Canada admit to what they do with Steel/Aluminum, and not demand they apply the same “mirror standard” to other aspects, industries, materials and sectors of the agreement.
By admitting to the flaw on Asian imports, Mexico is opening the negotiation door to all product sectors. This is the FATAL FLAW we did not anticipate Mexico and Canada ever agreeing to close.
Can/Mex must really be anticipating a U.S. withdrawal, otherwise they would never make the admission public. However, again, all of this said, it’s almost an impossible loophole to close unless Canada and Mexico agree to allow the U.S. to dictate the terms for their future bilateral trade agreements.
From the POTUS Trump position, NAFTA always came down to two options:
Option #1 – renegotiate the NAFTA trade agreement to eliminate the loopholes. That would require Canada and Mexico to agree to very specific rules put into the agreement by the U.S. that would remove the ability of third-party nations to exploit the current trade loophole. Essentially the U.S. rules would be structured around removing any profit motive with regard to building in Canada or Mexico and shipping into the U.S.
Canada and Mexico would have to agree to those rules; the goal of the rules would be to stop third-party nations from exploiting NAFTA. The problem in this option is the exploitation of NAFTA currently benefits Canada and Mexico. It is against their interests to remove it. Knowing it was against their interests President Trump never thought it was likely Canada or Mexico would ever agree. But he was willing to explore and find out.
Option #2 – Exit NAFTA. And subsequently deal with Canada and Mexico individually with structured trade agreements about their imports. Canada and Mexico could do as they please, but each U.S. bi-lateral trade agreement would be written with language removing the aforementioned cost-benefit-analysis to third-party countries (same as in option #1.)
The issue of Canada and Mexico making trade agreements with other nations (especially China), while brokering their NAFTA access position with the U.S. as a strategic part of those agreements, is a serious issue that cannot adequately be resolved while the U.S. remains connected to NAFTA. …*UNLESS* Canada and Mexico agree that U.S. trade tariff amounts will always be the floor for their own trade deals with other nations.
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