The new Trade Agreement between Mexico and Canada (USMCA) and the United States over which Trump has been so criticized for was obviously necessary from a number of perspectives. The new USMCA is drafted as a new stand-alone trade agreement, rather than amendments to NAFTA. It includes transition provisions dealing with NAFTA, some modifications to those provisions taken from NAFTA, and a dozen new chapters. Whereas NAFTA included 22 chapters, the new agreement has 34. Beyond the criticism, the new chapters include those on labor, the environment, digital trade, and macroeconomic policy. The USMCA also includes annexes covering alcohol and proprietary food formulas as well as bilateral side letters on distinctive products, auto safety standards, biologics, cheese names, wine, water, research and development expenditures, and Section 232.
There were different safety standards everyone was using and then NAFTA did not include anything to do with the INTERNET and the new digital era.
QUESTION: Hello Mr Armstrong,
I read your blog since many years (i live in France) and i’m really impressed by Socrates … You have said that the $ will going to rise against the € and it’s exactly what’s happened !!
You have said that the Dow Jones will rise into 26 000 points and will go on into 40 000 points and the Dow rise since the elction of Trump and we are going to live what Socrates has predicted !!
INCREDIBLE because all the interview and news that i have seen were going to explain that it will be the contrary. Is it the slingshot which is going to happen ? Are we waiting the rise of the Gold before to have the final signal ?
You have always said that the Gold, the $ and the Dow will rise together when the slingshot will begin … are we to this moment ? or is it too early ?
Thanks Mr Armstrong and good things to you and your team.
LB
ANSWER: Absolutely everything is connected. If you get one right, then the rest must follow. It is really impossible to have one market moving opposite of everything else. It is sort of like the world is in a Great Depression and it is impossible for one politician in one country to reverse the trend of the world. So the world economy is very much like a set of dominoes. It is impossible to reverse the trend and it just has to play out. We are not yet ready on the gold. As you can see, gold has been declining in dollars as well as euros. The markets have been consolidating waiting as people are trying to figure out if this the big crash or not. The majority keep calling for the end of times. This has been the MOST hated Bull Market in history. They keep calling for the crash ever since 2009.
National Economic Council Chairman Larry Kudlow appears on Sunday Morning to talk about the U.S.MCA agreement; the state of the economy; and the ongoing MAGAnomic efforts within restructured trade deals.
Ms. Maria Bartiromo knows the weeds, and is smart enough to see the new dimension within an economy as it moves away from Wall Street toward Main Street. Kudlow discusses the surfacing MAGAnomic evidence within wage growth and blue-collar benefits. The conversation then goes international. Good discussion.
In Part II of the Chairman Nunes interview today, Maria Bartiromo discusses the state of the economy, the downstream political consequences from the Kavanaugh smear job, and the mid-term elections.
QUESTION: Hi Marty,
Can you help us better understand the dynamics of the sovereign debt crisis as it relates to US Treasuries? I know we are in a global debt crisis, which will also impact US Treasuries but it seems like short treasuries is the current consensus (I believe they are currently at the biggest net short position in recent history). Since most people need to be wrong, does this suggest that as global debt unwinds that perhaps US Treasuries may still have another rally in them before the final crash?
Thank you for any insight into what we know to be the greatest bubble.
Looking forward to the WEC!
SB
ANSWER: We have to always look at markets collectively from a global perspective, and also separating the long-term from the short-term trend. It is sort of the saying you can win the battle, but lose the war. This is the same thing. In the case of interest rates, the long-term is clearly staring at higher rates square in the eyes. However, then we have shifts in trend within the short-term. For example, domestically, you have this pervasive hatred of the stock market and as an evergreen tree, they have been perpetually bearish since 2009. They have not wavered in that forecast because they have blinders on and make forecasts solely upon a flat model limited to patterns and domestic analysis at best. Therefore, there will be these bouts of flight to quality sell stocks and buy bonds. We have NOT yet crossed the Rubicon in interest rates. We still have not yet elected the 4th Monthly Bearish Reversal. When we do, the 30-year will signal the debt crisis is in full gear.
Now we have to look at this market from a Hedge Fund Manager’s world. My decision has to be made on a global scale – not domestic. This boils down to you are a prince and your father compels you to ask one of the three ugliest girls in town for a date for political reasons for the realm. So, you choose the prettiest of the three ugly sisters as they say. This is what happens internationally. You have to have money in debt because you are trying to also be diversified (I do not always agree with that strategy). Hence, the euro looks like death warmed over, political chaos is brewing, so you have to push money out the door to other currencies. Hence, the dollar keeps rising and the political rhetoric against Trump is desperate to hide the trend that his strategies have been working on bringing capital home and renegotiating NAFTA. So with the dollar strong, euro in crisis, you have no choice but to buy Treasuries even if for short-term plays.
Consequently, you can be correct that the long-term trend is UP UP AND AWAY for interest rates. However, the devil is lurking behind every rock along the path. You may be correct on the war, but lose a fortune of the short-term corrections. Hence, we have not yet crossed the Rubicon. When we do, it will be time to shout very loud so our readers will hear. We can see that the chart patterns between dollars and euro in the 30-year Treasuries is as different as night and day.
President Donald Trump calls in to Judge Jeanine Pirro weekend television program after the Senate confirmed Justice Brett Kavanaugh to the Supreme Court.
During a private ceremony following the Senate confirmation vote, Judge Brett Kavanaugh took the constitutional oath of office with Chief Justice John Roberts presiding. The judicial oath ceremony was conducted by retired Justice Kennedy.
WASHINGTON DC – Judge Brett Kavanaugh was sworn in as the 114th Supreme Court justice late Saturday, just hours after the Senate voted to confirm him to the nation’s highest court after a rancorous confirmation battle.
Kavanaugh was sworn in by Chief Justice John Roberts in a private ceremony, accompanied by his wife and children. It means that now-Justice Kavanaugh will begin hearing cases before the court on Tuesday.
[…] Sen. Joe Manchin, D-W.Va., was the sole Democrat to vote “yes.” Sen. Lisa Murkowski, R-Alaska, was a “no,” but voted “present” as a courtesy to Sen. Steve Daines, R-Mont., who was attending his daughter’s wedding in Montana. (read more)
(Judicial Oath delivered by retired Justice Kennedy – for whom Kavanaugh clerked)
Tonight President Trump heads to Topeka, Kansas, where GOP Congressman Kevin Yoder is in a tight race against his Democratic opponent, Sharice Davids. President Trump is likely to talk about Supreme Court Justice Brett Kavanaugh, who was confirmed to the senate earlier today and sworn in at the Supreme Court in a private ceremony.
The venue is the Kansas Expocentre, and the anticipated start time is 6:30pm CT / 7:30pm ET, with pre-rally speeches and speakers ongoing.
First Lady Melania Trump has visited Ghana, Malawi and most recently, Kenya. The White House official Flikr Stream has incredible pictures – SEE HERE. Each picture has a brief paragraph explaining the context and subject matter. Very enjoyable review.
The Bureau of Labor Statistics (BLS) release the first estimated September jobs report earlier today [Details Here] reflecting 134,000 new jobs added last month. However, that’s not the story – The BLS revised August upward +69,000, and July +18,000.
The cumulative jobs gained 134k + 87k equals 221,000 new jobs. Lowering the unemployment rate to 3.7% the lowest unemployment statistic since 1969.
First, a note on the *revisions*. How did the BLS underestimate (twice) the August jobs report by 70k ? This is stunning: 201k -vs- 270k. That’s a 30% error rate? Someone’s head needs to roll, because it looks like politically motivated statistical sandbagging.
BLS – […] The change in total nonfarm payroll employment for July was revised up from +147,000 to +165,000, and the change for August was revised up from +201,000 to +270,000. With these revisions, employment gains in July and August combined were 87,000 more than previously reported. After revisions, job gains have averaged 190,000 per month over the last 3 months.
(BLS) Total nonfarm payroll employment rose by 134,000 in September, compared with an average monthly gain of 201,000 over the prior 12 months. In September, job gains occurred in professional and business services, in health care, and in transportation and warehousing. (See table B-1.)
Employment in professional and business services increased by 54,000 in September and has risen by 560,000 over the year.
Health care employment rose by 26,000 in September. Hospitals added 12,000 jobs, and employment in ambulatory health care services continued to trend up (+10,000). Over the year, health care employment has increased by 302,000.
In September, employment in transportation and warehousing rose by 24,000. Job gains occurred in warehousing and storage (+8,000) and in couriers and messengers (+5,000). Over the year, employment in transportation and warehousing has increased by 174,000.
Construction employment continued to trend up in September (+23,000). The industry has added 315,000 jobs over the past 12 months.
Employment in manufacturing continued to trend up in September (+18,000), reflecting a gain in durable goods industries. Over the year, manufacturing has added 278,000 jobs, with about four-fifths of the gain in the durable goods component.
Within mining, employment in support activities for mining rose by 6,000 over the month and by 53,000 over the year.
Employment in leisure and hospitality was little changed over the month (-17,000). Prior to September, employment in the industry had been on a modest upward trend. Some of the weakness in this industry in September may reflect the impact of Hurricane Florence. (read more)
National Economic Council Chairman Larry Kudlow discusses formally and informally:
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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