The Competence Vote…

From the first moment when he announced his intent to run for President of the United States in 2015, Donald Trump was very clear on one specific aspect to his view of why people would vote for him.  As a candidate, he repeated it often:

So the reporter said to me the other day, “But, Mr. Trump, you’re not a nice person. How can you get people to vote for you?”

I said, “I don’t know.” I said, “I think that number one, I am a nice person. I give a lot of money away to charities and other things. I think I’m actually a very nice person.”

But, I said, “This is going to be an election that’s based on competence, because people are tired of these nice people. And they’re tired of being ripped off by everybody in the world.”

President Donald J Trump continues to highlight that message today:

It’s funny, from time-to-time people ask “how is CTH consistently able to predict what Donald Trump will do about a complex issue”?  In reality the answer is simple, go back and re-read his hour long campaign kick-off speech. [See Here]

Donald Trump, now President Trump, is one of the most consistent people in history when it comes to his big picture views; and also his big picture solutions.  There are small shifts, and slight changes in the direction toward the solution, but ultimately the big picture destination is consistent.

Specifically because President Trump works on optimal solutions toward the goal destination, his objective, the non-politician takes a different approach than would be expected from a typical politician.  Ultimately this is how Trump is able to accomplish so much more in a similar amount of time; he’s not poll-testing the route.

Each big goal, each major objective, has a series of way-points.  The process for reaching those way-points is independent and entirely based on the goal itself.  Politicians look at this approach and think of it as inconsistent, because the travel is not subject to a specific map that is always followed.

Because President Trump’s search for ‘optimal travel’ is not based on a prior path – but based on each unique destination, the goal is more predictably reached.  In many ways it is just common sense.

Competence in policy is not measured by endless planning, discussion and debate… it is measured by results.  Achieving results requires action.  Start the journey and head to the way-point; reach the initial objective – evaluate, and immediately measure the next way-point; repeat until you reach the destination.

[…] So we need people— I’m a free trader. But the problem with free trade is you need really talented people to negotiate for you. If you don’t have talented people, if you don’t have great leadership, if you don’t have people that know business, not just a political hack that got the job because he made a contribution to a campaign, which is the way all jobs, just about, are gotten, free trade terrible.

Free trade can be wonderful if you have smart people, but we have people that are stupid. We have people that aren’t smart. And we have people that are controlled by special interests. And it’s just not going to work.

[…]  I love China. The biggest bank in the world is from China. You know where their United States headquarters is located? In this building, in Trump Tower. I love China. People say, “Oh, you don’t like China?”

No, I love them. But their leaders are much smarter than our leaders, and we can’t sustain ourself with that. There’s too much— it’s like— it’s like take the New England Patriots and Tom Brady and have them play your high school football team. That’s the difference between China’s leaders and our leaders.

They are ripping us. We are rebuilding China. We’re rebuilding many countries. China, you go there now, roads, bridges, schools, you never saw anything like it. They have bridges that make the George Washington Bridge look like small potatoes. And they’re all over the place.

We have all the cards, but we don’t know how to use them.

We don’t even know that we have the cards, because our leaders don’t understand the game.

We could turn off that spigot by charging them tax until they behave properly. (Cont…)

Trump’s China Tariffs Spawn $30 Billion in New U.S. Farm Bailouts: No End in Sight

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Best “Recession” Ever – Retail Sales Show “Unexpected” Growth in August -AND- Despite Tariffs Import Prices Drop…

The recession-hoping pundits took more blows to their remaining credibility today when both the Commerce Department and the Bureau of Labor Statistics (BLS) deliver excellent economic results from August that continue to exceed MSM expectations.

The Commerce Dept. announced that retail sales climbed by 0.4 percent in August, twice as high as the 0.2 percent analysts had predicted. The result highlights retail sales strength of more than 4 percent year-over-year.   These excellent results come on the heels of blowout data in July, when households boosted purchases of cars and clothing.

The better-than-expected number stemmed largely from a 1.8 percent jump in spending vehicles. Online sales, meanwhile, also continued to climb, rising 1.6 percent. That’s similar to July, when Amazon held its two-day, blowout Prime Day sale. (link)

(Via Reuters) Retail sales rose 0.4% last month, lifted by spending on motor vehicles, building materials, healthcare and hobbies. Data for August was revised slightly up to show retail sales increasing 0.8% instead of 0.7% as previously reported.

Economists polled by Reuters had forecast retail sales would gain 0.2% in August. Compared to August last year, retail sales advanced 4.1%. Retail sales have increased for six straight months, the longest such stretch since June 2017. (more)

Doesn’t look like middle-class America is overly concerned about the noise coming from the pundits.   Likely that’s because wages are higher, inflation is lower, and consumer confidence is strong….  MAGAnomics is working.

Additionally, remember all those MSM hours and newspaper column inches where the professional financial pundits were claiming Trump’s tariffs were going to cause massive increases in prices of consumer goods?

Well, exactly the opposite is happening [BLS report]  Import prices continue to drop:

[Table 1 – BLS report link]

This is a really interesting dynamic that no-one in the professional punditry will dare explain.  Trump’s tariffs are targeted to specific sectors of imported products.  [Steel, Aluminum, and a host of smaller sectors etc.]  However, when the EU and China respond by devaluing their currency, that approach hits all products imported, not just the tariff goods.

Because the EU and China are driving up the value of the dollar, everything we are importing has become cheaper.   Not just imports from Europe and China, but actually imports from everywhere.   All imports are entering the U.S. at substantially lower prices.

This means when we import products we are also importing deflation.

This price result is exactly the opposite of what the pundits were predicted back in 2017 and 2018 when they were pushing the rapid price increase narrative.

Because all the export dependent economies are reacting with such urgency to retain their access to the U.S. market, aggregate import prices are actually lower now than they were when the Trump tariffs began:

[…]  Prices for imports from China edged down 0.1 percent in August following decreases of 0.2 percent in both July and June. Import prices from China have not advanced on a monthly basis since ticking up 0.1 percent in May 2018. The price index for imports from China fell 1.6 percent for the year ended in August.

[…]  Import prices from the European Union fell 0.2 percent in August and 0.3 percent over the past 12 months.

[Page #4 – BLS Report, pdf] – BLS press release

Panda Hungry – China Buys Soybeans, Exempts Pork and Beans From Additional Tariffs…

In a quiet admission of food dependency, China purchased 600,000 tonnes of soybeans yesterday (link), and simultaneously announced that U.S. pork and soybean imports would be exempt from further tariff increases.

The surface message Beijing is selling, surrounds their magnanimous panda narrative of reaching out to diminish trade friction.  However, below the surface everyone knows China cannot feed itself,and if food prices keep rising they could likely have growing unrest.

Beijing’s decision to not enhance tariffs of pork and soybeans is very self serving; particularly because China owns Smithfield foods, the largest producer of U.S. pork.  In essence China has lessened tariffs against their own company.

(SCMP) China has announced that it will exclude imports of US soybeans, pork and other farm goods from additional trade war tariffs, opening the door for significant purchases of agricultural products.

The official Xinhua News Agency reported on Friday that China’s National Development and Reform Commission and the Ministry of Commerce made the exemption in response to the US’ decision of postpone an increase in the tariff rate on $250 billion of Chinese goods from October 1 to October 15.

It comes after US President Donald Trump spoke on Thursday of the possibility of an “interim trade deal” over the coming weeks.

Beijing will allow Chinese businesses to purchase a “certain amount of farm products such as soybeans and pork
” from the United States, according to the Xinhua report. “China’s market is big enough and there’s great potential to import high-quality US farm products.” (read more)

Now we can see why Vice-Premier Liu He asked President Trump to postpone the tariffs on Chinese products from October 1st to October 15th.

Manipulative panda needed the two-week delay as the basis for a face-saving move.

Likely Beijing was already going to make the bean purchases and exempt the pork products etc.  China has no choice, they need the food.  However, making the purchase as a stand alone would make them appear weak…. So Beijing asks President Trump for a two-week delay,… then they make the purchase,…. and then they position the purchase as a response to the two-week delay.

Typical panda.

POTUS knew….

Donald J. Trump


President Trump Delivers Remarks During Republican Dinner – Baltimore, Maryland, 7:15pm EDT Livestream

Tonight President Trump will be delivering remarks at the 2019 House Republican Conference Member Retreat Dinner from Baltimore, Maryland.  The anticipated start time is 7:15pm EDT.

WH Livestream Link – RSBN Livestream Link – Fox News Livestream Link



President Trump Impromptu Presser Departing the White House – Video and Transcript…

Chopper pressers are the best pressers.  Departing the White House for a flight to Baltimore, Maryland, attending a republican conference dinner, the President pauses to hold an impromptu press conference with the media pool on a variety of topics.

[UPDATE – Video and Transcript Below]


[Transcript] THE PRESIDENT: Thank you everybody. So, the stock market is up again, and we’re very close to a new high. It would be over 100 times, I believe. You’ll check it. But many, many times, we set the record. So we’re very honored by that. We’re having a tremendous couple of weeks. A lot of good things are happening.

I got a call from heads of China. The call was directed to my people, actually. And they asked whether or not it would be possible to delay the hit on the tariffs up to 30 percent from 25 percent — would it be possible to take it off of the October 1st date. We gave them a two-week — in honor of President Xi, we gave them a two-week reprieve. And so, we’ll be doing the tariffs on October 15th, instead of October 5th or 1st.

They were going to be set on October 1st; we’re moving it to October 15th because they’re having their 70th anniversary. And I will do that, again, in honor of President Xi.

And that’s it. Any questions.

Q Mr. President, are you considering Secretary Pompeo to also be the National Security Advisor?

THE PRESIDENT: No, I wouldn’t. I think he’s fantastic, but I actually spoke to Mike Pompeo about that, and he decided — and he and I — I get along with him so well. We have a lot of the same views, and a couple of a little different views. But he likes the idea of having somebody in there with him, and I do too.

I think that we’ll have an answer for you — we have — we have 15 candidates. Everybody wants it badly, as you can imagine. And we’ll probably next week sometime make that decision. And we look forward to that.

Q (Inaudible) 15 candidates. Yesterday, you said you had five candidates.

THE PRESIDENT: We had. We have at least 10 more. A lot of people want the job. And we — it’s a great job. It’s great because it’s a lot of fun to work with Donald Trump. And it’s very easy, actually, to work with me. You know why it’s easy? Because I make all the decisions. They don’t have to work.

Q Mr. President, you called Baltimore, at one point, “rodent-infested.” What’s your message to the people of Baltimore now, as you head to Baltimore?

THE PRESIDENT: Well, I look forward — we’re going to Baltimore right now. I look forward to it. We’re going to be with the Republican congressmen, and I think it’s going to be a very successful evening.

We’re — we had a tremendous election on Tuesday, and you saw the results on Tuesday night. One gentleman was Dan Bishop. He was not doing so well three or four weeks ago. We got the message out and he won the election. He was losing substantially and he ended up winning fairly easily. That’s Dan Bishop. And Greg Murphy won by a lot more than it was expected. He won by many points. And a lot of people thought that was going to be a close race.

So we won two seats in Congress on Thursday, and I guess the press didn’t talk about it too much. They would have if they lost, but they won. The Republicans had a great night on Tuesday.

Q Are you considering any kind of interim deal with the Chinese, where they make a commitment on intellectual property and agriculture?

THE PRESIDENT: Well, it’s something that people talk about. I’d rather get the whole deal done. We’ve taken in many, many billions of dollars of tariffs. I’d rather get the entire Chinese done — look, if we’re going to do the deal, let’s get it done.

A lot of people are talking about it, and I see a lot of analysts are saying an interim deal, meaning we’ll do pieces of it — the easy ones first. But there’s no easy or hard. There’s a deal or there’s not a deal. But it’s something we would consider, I guess.

But we’re very — we’re doing very well. We’re doing very well. I did the little bit of a delay in honor of President Xi because it’s their 70th anniversary in China.

Q Mr. President, what do you expect out of the debate tonight?

THE PRESIDENT: Well, it’s too bad I’m going to miss it. I’m going to have to have it somehow taped. I didn’t even tell them about that, so maybe it’s not that important. But it is important.

Look, it’s going to be very interesting. I look forward to going home. I’m going to have to watch it as a rerun because many of you are coming to Baltimore with me.

I don’t expect too much difference. I mean, you have three people that are leading. I sort of think that those three people are going to take it to the end. It’s going to be one of those three, I think. But you never know in politics, do we? You know better than I. You never know in politics.

Q Out of those three, who do you think your strongest opponent is?

THE PRESIDENT: I think — you know, look, they all have their weaknesses and their strengths. I think that they’re very different. You certainly have a lot of different voices up there. But it would look to me like it would be Elizabeth Warren. And it looks like Joe, maybe, will be able to get there. Maybe not. I don’t know. And certainly Bernie is there. He’s number three.

But I think that — because they’re so far in the lead — the three of them. And if you remember, I’m sure you forget my Republican primaries, but I went to the lead at the very beginning and stayed there. It’s — you know, if you don’t make a really major mistake, he should be able to make it. I would imagine Biden would be able to make it if he doesn’t make any major mistakes. We’ll see what happens.

Q The man that you called “my African American” at your rally in 2016, he says he’s leaving the Republican Party because you’re pursuing a pro-White agenda. What’s your reaction to that?

THE PRESIDENT: Yeah, go ahead. Go ahead. What?

Q What do you — what do you say to him? What do you say to — he used to be a supporter of yours?


Q He’s — it’s a supporter of yours.

Q Do you have any answer for —

Q He’s a supporter of yours that used to be a supporter, and then he’s not anymore.

THE PRESIDENT: I don’t know who you’re talking about.

Q He’s the man that you pointed out at the rally and called “my African American.” He used to support you.

THE PRESIDENT: I don’t know. We have tremendous African American support. I would say I’m at my all-time high.

Q (Inaudible.)

THE PRESIDENT: I don’t think I’ve ever had the support that I have now. And I think I’m going to do very well with African American.

Q But do you think he’s wrong?

THE PRESIDENT: African American support is been the best we’ve had, and I think a lot of it has to do with the fact that, from an employment and unemployment — both — employment and unemployment —

Q But do you think he’s wrong? Do you think he’s wrong that you’re pursuing a pro-white agenda?

THE PRESIDENT: Well, I think this. I think this. It’s very simple: We have the best numbers we’ve ever had for African Americans, in terms of employment and unemployment. So I think we’re going to do very well.

Q Have you made any decisions on guns or ethanol today?

THE PRESIDENT: So, we had a big meeting on guns and we had a big meeting on ethanol. We had a great meeting with Chuck Grassley, Joni Ernst, Mike Rounds. We had a — Kim was there, Iowa. Kim was there. We had some terrific people. John Thune.

We had a meeting on ethanol. We had a meeting on guns. Separately, and different people. And I think we made some good progress on background checks and guns. I think we had a great meeting on ethanol, for the farmers. I think we had — our ethanol meeting was a great meeting. Let’s see what happens.

But there’s been nobody better to farmers than Donald Trump, that I can tell you. I think we made a lot of progress on ethanol, and I think we made a lot of progress on guns. Yes.

Q Will you meet with Kim Jong Un this year? You will meet Kim Jong Un sometime this year, Mr. President?

THE PRESIDENT: At some point, yes. He will — certainly they want to meet. They’d like to meet. I think it’s something that will happen. And we’ll see. But Kim Jong Un — I think something can happen. Yeah.

Q President Trump, on the military — on military construction funds: Senator Tim Kaine says you’re putting national security at risk, and Democrats are calling for a vote to overturn your national emergency. What’s your response to that and would you reconsider (inaudible) projects?

THE PRESIDENT: We need the wall for purposes of national security. The military is behind it all the way. Any project that they may delay a little bit, it’s only a delay. They’ll get built. But the wall is something that we need. We’re going to be building hundreds of miles of walls. We have, as you know, a Supreme Court decision, which was outstanding.

We also had a Supreme Court decision yesterday on asylum. And that was a very, very big decision. And it was a 7-2 decision. The asylum decision was very big, but we had a very good decision on the wall and wall funding.

And the wall is going up as we speak. We intend to have, approximately, you know, maybe something short of 500 miles of wall. That would be almost everything that we need. About 500 miles is what we need. And we’re going to be very close to that by the end of next year.

Q The House Judiciary Committee approved a resolution defining the panel’s investigation — the impeachment investigation. Are you concerned at all —


Q — that they’re moving forward, potentially, on this?

THE PRESIDENT: We’ve done the best job of any President in two and a half years of — in office. Our economy is incredible. Rules, regulations — everything that we’ve rolled back have really led to a resurgent economy. If you look at all of the things we’ve done for the military, if you look at what we’ve done for the vets, if you look at everything we’ve done from an economic standpoint to a national security standpoint, I think our country is in one of the best conditions that it’s ever been in. I think the economy may be the strongest it’s even been in the history of our country.

And people know we’re doing a great job. They do play politics, and they continue to play politics. And a lot of people think that’s the only way. But you know what? Most people think that helps me. It’s really an embarrassment to our country. We’ve done a great job.


Q Thank you. Mr. President, Kim Jong Un wants new conditions for negotiation with the United States. Are you accept the new conditions for the negotiations?

THE PRESIDENT: Well, we’re going to see. I think that North Korea would like to meet. I think you probably have heard that. I can tell you that Iran wants to meet and China wants to make a deal. So we have a lot interesting things going on. Okay?

Q Mr. President, should Andrew McCabe be charged?

THE PRESIDENT: Well, I haven’t seen the Andrew McCabe situation. I really don’t know about it yet. I heard it was big news before, but I have not been able to find out exactly what happened with Andrew McCabe. Something happened that was very big. It was just breaking as I was — walked out. But I haven’t seen it yet.


Q Mr. President, what exactly have you and the First Lady told Barron about vaping?

THE PRESIDENT: We haven’t told him anything except, “Don’t vape. Don’t vape.” We don’t like vaping. I don’t like vaping.

Q Mr. President, do you think Nancy Pelosi is scared to impeach you?

THE PRESIDENT: I don’t think she’s scared of anything. I think she’s a smart woman and I think she knows exactly what she is doing.

We have the strongest economy in the history of our country. We’re about ready to break the record again on the stock market. We’ve broken the record on jobs. African American — we just broke the record again. You know that.

If you look at Hispanic American, Asian American, the best — the best employment and unemployment numbers in the history of our country. With women, we’re at 71 percent. Seventy-one years. Think of this, 71 years. The best numbers in 71 years.

No, I think we’ve done a great job. There are those that say the best job in the history of our country, for the first two and a half years. So, pretty much, that’s the story.

Q (Inaudible) deal on guns? And what will you do with the NRA?

THE PRESIDENT: So we had a big meeting today on guns. We had a big meeting today on ethanol. Both meetings went very well. A lot of progress was made, I believe, on the background checks and various things having to do with guns. We’re dealing with the Democrats. And we’re dealing — I think we’re dealing very well. It seems like they’d like to do something. And I think that I can speak for Republicans: They’d like to something.

We’ll see what can happen, but we’re always protecting our Second Amendment. I want to make it clear: Our Second Amendment will be protected fully.

Q Mr. President, how was John Bolton holding you back on Venezuela, sir?


Q How was John Bolton holding you back on Venezuela? Do you want more in military —

THE PRESIDENT: Well, we’re dealing on Venezuela right now. It’s going to be a very interesting period of time. We’re also trying to help a lot of Venezuelans who are dying. They have no food. They have no water. And we are trying to help. A lot them have escaped, so to speak, into Colombia and different places. We’re trying to help those people that have been able to get out.

But we are dealing with a lot of things having to do with Venezuela. My attitude on Venezuela is a very tough one. And, frankly, my attitude on Cuba is a very tough one. And, in a way, they go hand in hand, because Cuba has always made it possible for Venezuela to do what they’re doing. And, frankly, that’s ending now. And, likewise, Venezuela, through the oil, took care of Cuba. A lot of that is ending right now.

Q Have you seen any evidence that the Israelis have been spying on you and the White House?

THE PRESIDENT: I don’t believe that. No, I don’t think the Israelis were spying on us. I really would find that hard to believe.

My relationship with Israel has been great. You look at Golan Heights. You look at Jerusalem — with moving the embassy to Jerusalem becoming the capital. You look at even the Iran deal — what’s happened with Iran. Iran is a much different country right now than it was two and a half years ago. It’s a much — it’s in a much different position.

No, I don’t believe that. I wouldn’t believe that story. It could — anything’s possible, but I don’t believe it.

Q Are there any Democrats debating tonight that you actually respect?

THE PRESIDENT: I respect all of them.

Q All of them?

THE PRESIDENT: I respect every one. Let me tell you: It takes a lot of courage to run for office. I respect all of them.

See that? I’m getting to be much better as a politician. You never thought you’d hear that answer.

Q You said you had this big meeting on guns today. Are you going to support strengthening background checks? Yes or no?

THE PRESIDENT: I think so. It depends, really, on the Democrats. It depends on whether or not the Democrats want to take your guns away — because there’s a possibility that this is just a ploy to take your guns away — or whether or not it’s meaningful. If it’s meaningful, we’ll make a deal.

If this is a movement by the Democrats to take your guns away, then it’s never going to happen because we’re never going to let that happen. We will always be there for our Second Amendment.

So, we’re going to see. If the Democrats want to make a deal, we could make a deal.

Q Mr. President, how important are the Israeli elections next week?

THE PRESIDENT: Very important.

END 6:03 P.M. EDT

Peter Navarro Outlines Changes in USPS Mail Subsidy for Chinese Shipments…

During an interview with Fox Business Maria Bartiromo White House Trade and Manufacturing Advisor Peter Navarro outliness how the USPS, the postal system, has been heavily subsidizing “incoming mail of a number of countries to the tune of hundreds of million dollars a year.”  Navarro notes he is meeting with foreign ambassadors and representatives of the State Department at the Blair House in Washington, D.C., to work on changes to the current mail system.

Additionally, Navarro explained that he will be traveling to Geneva, Switzerland, on Sept. 23 for a third “Extraordinary Congress” and there will be two issues/options on the ballot: (1) allows all countries in the postal union to self-declare rates, ending a terminal dues system that costs countries to subsidize incoming mail. (2) A “multispeed approach,” allowing the U.S. to self-declare rates immediately.

Treasury Secretary Steven Mnuchin: “the China tariff delay is a good will gesture, nothing more”…

The European Central Bank (ECB) announced Thursday an indefinite supply of fresh asset purchases and deeper cuts to interest rates, into negative territory, as it tries to prop up the ailing euro zone economy.  These are EU financial counter-measures to the geopolitical trade realignment triggered by U.S. President Trump.

The EU is driving down the value of their currency in an effort to help prop-up the French and German economies that are dependent on exports.  In essence, the financial and economic positions of the EU and China are connected.  The more pressure the U.S. (Trump administration) puts on China, the less China can purchase from the EU.

With that as the backdrop, Treasury Secretary Steven Mnuchin holds an impromptu press conference outside the White House on China trade, Huawei and the bond market.



Best “Recession” Ever – MAGAnomics: Inflation 1.7%, Wage Growth +3.5%, Real Worker Earnings +1.8%…

A series of very strong internal economic evaluations today from the Bureau of Labor Statistics (BLS) and the U.S. Department of Labor (DOL) show the Main Street economy is perfectly positioned with maximum benefit to the U.S. middle-class.

First, despite two years of doomsayer predictions from Wall Street’s professional punditry, saying Trump tariffs on China would create massive inflation…. It Ain’t Happening!  Overall year-over-year inflation is hovering around 1.7 percent [Table-A BLS]; that’s a low inflation rate.  Rate has firmed up now with less month-over-month fluctuation, and the rate remains consistent.   [See Below]

A couple of important points.  First, unleashing the energy sector to drive down overall costs to consumers and industry outputs was a key part of President Trump’s America-First MAGAnomic initiative.  Lower energy prices help the worker economy, middle class and average American more than any other sector… Except ‘food at home’.

Which brings us to the second important point.  Notice how food prices have very low year-over-year inflation, 0.5 percent.  That is a combination of two key issues: low energy costs, and the fracturing of Big Ag hold on the farm production and the export dynamic:

(BLS) […] The index for food at home declined for the third month in a row, falling 0.2 percent. The index for meats, poultry, fish, and eggs decreased 0.7 percent in August as the index for eggs fell 2.6 percent. The index for fruits and vegetables, which rose in July, fell 0.5 percent in August; the index for fresh fruits declined 1.4 percent, but the index for fresh vegetables rose 0.4 percent. The index for cereals and bakery products fell 0.3 percent in August after rising 0.3 percent in July. (link)

For the past twenty years food prices have been increasingly controlled by Big Ag, and not by normal supply and demand.   The commodity market became a ‘controlled market’. U.S. food outputs (farm production) was controlled and exported to keep the U.S. consumer paying optimal prices.

President Trump’s trade reset is disrupting this process.  As farm products are less exported, the cost of the food in our supermarket becomes reconnected to a ‘more normal’ supply and demand cycle.  Food prices drop and our pantry costs are lowered.

Lower gas prices, energy prices and lower food prices again provide greatest benefit to the U.S. middle-class.   More MAGAnomics at work.  It is critical to understand this dynamic because there are current political candidates like Elizabeth Warren who are openly stating (as a matter of policy) they intend to stop this middle-class price benefit:

Be forewarned, this Warren policy would be devastating to working class Americans.

Back to the good news….

In combination with low inflation on the items that matter, U.S. wage growth is exceeding 3.5 percent.   Subtract the inflation of 1.7 percent from the wage growth of 3.5 percent and you get Real Earning Growth of +1.8 percent.

…”From August 2018 to August 2019, real average hourly earnings increased 1.8 percent, seasonally adjusted.”… (BLS Link)

Any time worker earnings grow faster than the rate of inflation the lifestyle of the middle-class improves.   People simply have more money to save, spend or upgrade.  It’s simply common sense economics.

The last big of extra good news on the internal U.S. economy (not wall street), comes from the number of people who no longer need unemployment benefits.   The U.S. Dept. of Labor highlights today that fewer people are claiming unemployment:

Sanctimonious and Disrespectful Neil Cavuto Defends Wall Street Chinese Investments…

Fox News host Neil Cavuto is well known for broadcasting an hour long infomercial for the U.S. Chamber of Commerce and Wall Street daily.  White House manufacturing and trade advisor Peter Navarro interrupts Cavuto’s multinational talking points to explain a Pro-U.S. trade initiative that will help level the playing field.  Things go downhill….