There was an emergency virtual meeting of the Texas Republican Executive Committee last night after Governor Abbott signed an executive order requiring masks and social distancing, and banning assemblies of more than 10 people.
After nearly three hours of babbling, someone finally called the question, and the executive committee voted to hold the convention in Houston as planned.
Also, the Collin County Judge issued a blanket approval of any assembly of 10 or more to counter the Governor’s usurpation of the legislature. Republicans are madder than hornets at Abbott. I do not think he could win an election for dog catcher after this.
Last week during a Rockwall City Council emergency meeting, one city Councilman moved to cancel all July 4th activities. It was voted down 4-1. Also, a doctor was censured and resigned from a health board for inflating Covid numbers.
Our church is in the Rockwall 4th of July parade tomorrow morning. When asked about the Governor’s dictatorial mandate, the mayor replied that people have been cooped up long enough, and we need this 4th of July celebration.
A lady at church in her 50s had all the symptoms (cough, fever, loss of taste/smell, tiredness) for a week, and her Covid-19 test came back positive today. She is feeling better, though, and never had to be hospitalized.
Hopefully, the herd immunization will strengthen and cases will subside. Constant restrictions are limiting social (here) immune response.
-DB
REPLY: I have been running the models perhaps hoping for a different outcome but it’s always the same. September to November 2020 is going to see rising tension. It is clear that this virus is being used for political purposes and NEITHER side will accept the result in November. I added a section in the Great Reset which people can pull down as an update where the United States is now calling for a one-world government and that all politicians should come together and join under their banner. This is a major political coup that is unfolding on a global scale, but they are focusing on getting rid of Trump so they can include the United States along with Europe.
PLEASE keep in mind that while the dollar may end up as a safe haven for Europe, DO NOT expect that to last beyond 2 years at best. There is nothing which is permanent as we head into 2032. Even the 2020 election may end up in the Supreme Court.
This whole thing is a major effort to take over the world economy for all the socialistic programs that are collapsing. Europe has endured 6 years of negative interest rates with no stimulation. They can no longer raise money to fund programs. The days of perpetually borrowing have come to an end. This coup is all about seizing the system for what they see is a global revolution when people realize that everything they counted on from the government will not be there.
Hidden well down at the foggy bottom of the scaremongering is the reality of what the power-crazed, hate-spewing, fear mongering Democrats are really up to
The long Trail of Tears leading to November 3rd Election Day is covered with broken bits of toppled statues and defaced monuments. In the 123 days before Election, people are deliberately being herded down an election trail, driven by fear that a pandemic that has already shut down the world of commerce will be striking again—any day now.
Some people who already lost jobs in Pandemic, Round One, and found new ones, will lose them again in Dr. Anthony Fauci’s Pandemic, Round Two.
Now that thousands of city and town mayors and their councils are bowing to the pressure of the anarchy of the street mobs, it will be a horror a day, even a horror by hour, as the main means of keeping the fearful in lockdown.
Overnight our world’s become a surrealistic digital one where nothing seems normal any more.
Most citizen society has been shut out from the the normal life it lived before the pandemic hit, making it a society of sad, lost and bewildered souls.
As just one indication of how far this has all gone: No one makes it into Sunday church service without registering first and wearing a mask in the same churches where many have gone with their parents since childhood.
With all social media on Election Standby and a complicit media amplifying the words of ‘expert’ Dr, Anthony Fauci predicting there will soon be 100,000 U.S. pandemic cases a day, scare mongering dominates the “News”.
Hidden well down at the foggy bottom of the scaremongering is the reality of what the power-crazed, hate-spewing, fear mongering Democrats are really up to.
It’s all about the Democrats’ return to power through the covert theft of Election 2020, one where they and not the electorate will be the voters, courtesy of a “non-partisan”, 100% MAIL-IN-VOTE.
Meanwhile survival means that the shunned masses must live the next 123 days—one day at a time.
Time flies, and by the end of this day, one of the 123 days will already have passed.
Patriots, you may not be able to get into your community church without first registering and then wearing a mask— but you can still pray most fervently in that inviolate church called HOME.
Day One of the 120 leading to Election has almost passed by. Ditto for Day 2, tomorrow.
For this piece, we have to enter the official world (of the insane)—-where everyone is quite sure a new coronavirus was discovered in China and the worthless diagnostic tests mean something and the case numbers are real and meaningful. Once we execute all those absurd maneuvers, we land square in the middle of yet another scandal—-this time at our favorite US agency for scandals, the CDC.
The Stark inference The Atlantic somehow failed to grasp
(To read about Jon’s mega-collection, The Matrix Revealed, click here.)
I’ll give you the key quotes, and then comment on the stark inference The Atlantic somehow failed to grasp.
“We’ve learned that the CDC is making, at best, a debilitating mistake: combining test results that diagnose current coronavirus infections with test results that measure whether someone has ever had the virus…The agency confirmed to The Atlantic on Wednesday that it is mixing the results of viral [PCR] and antibody tests, even though the two tests reveal different information and are used for different reasons.”
“Several states—-including Pennsylvania, the site of one of the country’s largest outbreaks, as well as Texas, Georgia, and Vermont—-are blending the data in the same way. Virginia likewise mixed viral and antibody test results until last week, but it reversed course and the governor apologized for the practice after it was covered by the Richmond Times-Dispatch and The Atlantic. Maine similarly separated its data on Wednesday; Vermont authorities claimed they didn’t even know they were doing this.”
“‘You’ve got to be kidding me,’ Ashish Jha, the K. T. Li Professor of Global Health at Harvard and the director of the Harvard Global Health Institute, told us when we described what the CDC was doing. ‘How could the CDC make that mistake? This is a mess’.”
“The CDC stopped publishing anything resembling a complete database of daily [COVID] test results on February 29. When it resumed publishing test data last week [the middle of May]…”
The number media and government and related con artists deploy to scare the people and justify lockdowns and use to stop reopening the economy
First of all, the CDC’s basic mission is publishing disease statistics on an ongoing basis. Reporting partial data flies in the face of what they’re supposed to be all about.
But the big deal, of course, is combining results from two different tests—-the PCR and the antibody—-and placing them in one lump.
I’ve read the Atlantic article forwards, backwards, and sideways, and it appears the experts believe only PCR viral tests should be used to count the number of COVID cases.
So here is a takeaway I find nowhere in the Atlantic article: COMBINING THE TWO TESTS WILL VASTLY INFLATE THE NUMBER OF CASES.
I’m not talking about categories like “rate of infection” or “percentage.” I’m talking about plain numbers of cases.
Some PCR tests will indicate COVID and some antibody tests will indicate COVID, and adding them together will pump up the number of cases. You know, that big number they flash on TV screens a hundred times a day.
“Coronavirus cases jumped up again yesterday, and the grand total in the US is now…”
THAT number.
The number media and government and related con artists deploy to scare the people and justify lockdowns and use to stop reopening the economy.
The brass band circus with flying acrobats and elephants and clown numbers.
Somehow, these “mistakes” always seem to result in worse news, not better news
Therefore, I’m not characterizing what the CDC is doing as a mistake. They’ve managed to create the illusion that absolute case numbers are higher than they should be.
Somehow, these “mistakes” always seem to result in worse news, not better news. The “errors” are always on the high side rather than the low side.
Case in point: the computer prediction of COVID deaths in the UK and US made by that abject failure, Neil Ferguson, whose track record, going back to 2001, has been one horrendous lunatic exaggeration after another. His 2020 projections of 500,000 COVID deaths in the UK and two million in the US were directly used to justify lockdowns in many countries.
The CDC, back in 2009, stopped reporting the number of Swine Flu cases in the US—-while still claiming that number was in the tens of thousands. I’ve written in great detail about the scandal, which was exposed by then-CBS investigative reporter, Sharyl Attkisson. The CDC stopped counting cases, because the overwhelming percentage of tissue samples from patients was coming back from labs with no sign of Swine Flu or any other kind of flu. And yet, in a later retrospective “analysis,” the CDC claimed that, at the height of the “epidemic,” there were 22 MILLION cases of Swine Flu in the US.
Going all the way back to 2003 and SARS, the CDC and other public health agencies around the world hyped the dangers to the sky; the final official death count, globally, when the dust cleared? 800.
SO HOW MANY COVID CASES SHOULD WE SUBTRACT TO GET THE ACTUAL NUMBER?
There is a tradition of lying on the high side, blowing up figures in order to create the illusion of destruction.
CDC? Mistake? The agency is certainly incompetent. But that’s just the beginning of the story.
The only time they say there is no danger is when they’re lying about the effects of vaccines.
My headline for the Atlantic article would read: SO HOW MANY COVID CASES SHOULD WE SUBTRACT TO GET THE ACTUAL NUMBER?
And the first paragraph would go this way: “Just when governors are trying to reopen their economies, a gigantic case-counting deception at the CDC is taking the wind out of their sails. The millions of Americans suffering financial devastation could be pushed back into a hole. Who is screaming to high heaven about THAT on the nightly news? No one. Why not?”
President Trump and First Lady Melania travel to Keystone, SD at Mount Rushmore to celebrate Independence Day. President Donald Trump will be delivering remarks at South Dakota’s Mount Rushmore Fireworks Celebration. Event scheduled for 10:00pm ET; however, livestreams are ongoing. [Links Below]
The publicly sold narrative is Canadian PM Justin Trudeau holding out on a celebratory USMCA visit to Washington DC over worries about U.S. steel and aluminum tariffs. However, the background issue is Justin maintaining his “resistance” bona-fides during a U.S. election year.
Mexican President Andres Manuel Lopez Obrador is coming, but Justin has all those pesky political optics to worry about. Or something….
OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau said on Friday he was still unsure whether he would go to Washington D.C. next week to celebrate a new North American trade treaty, citing concern about possible U.S. tariffs on aluminum.
Mexico’s President Andres Manuel Lopez Obrador, who is due to meet U.S. President Donald Trump next week, has said he would like Trudeau to attend.
“We’re still in discussions with the Americans about whether a trilateral summit next week makes sense,” Trudeau said in a news conference. “We’re obviously concerned about the proposed issue of tariffs on aluminum and steel that the Americans have floated recently.”
U.S. national security tariffs on imported steel and aluminum – including from Canada and Mexico – were a major irritant during negotiations for the United States-Mexico-Canada trade deal, which was reached last year and entered into force on July 1.
But now, U.S. Trade Representative Robert Lighthizer is considering domestic producers’ request to restore the 10% duty on Canadian aluminum to combat a “surge” of imports. (link)
A Henry Ford Health Clinic study shows significant decreases in the death rate among patients to used Hydroxychloroquine as a treatment. Many U.S. media outlets are ignoring the result; however, even CNN has admitted the “surprise” study findings.
MICHIGAN – A Henry Ford Health System study shows the controversial anti-malaria drug hydroxychloroquine helps lower the death rate of COVID-19 patients, the Detroit-based health system said Thursday.
Officials with the Michigan health system said the study found the drug “significantly” decreased the death rate of patients involved in the analysis.
The study analyzed 2,541 patients hospitalized among the system’s six hospitals between March 10 and May 2 and found 13% of those treated with hydroxychloroquine died while 26% of those who did not receive the drug died.
Among all patients in the study, there was an overall in-hospital mortality rate of 18%, and many who died had underlying conditions that put them at greater risk, according to Henry Ford Health System. (more)
Speaking to reporters at the White House, Peter Navarro, drew attention to the Michigan study as well as another in New York. Navarro pointed out that media opposition to the treatment has likely resulted in unnecessary death.
NAVARRO – “A new study came out from Henry Ford hospital system that shows that if we take the medicine hydroxychloroquine In early treatment, we can observe a more than 50% reduction in mortality, without any adverse effects.”
“Now what, what, practically, that means is that if we had been using hydroxychloroquine at the very beginning, we could have saved 10s of thousands of lives already. And moving forward If hydroxychloroquine is used under the advice of the physician in early treatment, this study suggests that we could save hundreds of thousands of American lives over time and perhaps millions worldwide.”
“And the same day that that came out, a similar study came out from Mount Sinai Hospital system, which had a similar conclusion that hydroxychloroquine basically lowers the mortality rate.”
Navarro said he found it “reprehensible” only two outlets covered the news and reflects a “very strong bias media.”
“This is an undue and unnecessary fear of medicine is the use of more than six decades relatively safely. This is a drug that is regularly prescribed for lupus, rheumatoid arthritis, pregnant women take it. It’s, it’s a drug that that has gotten this hysterical bad rap, on the basis of the media selectively pro promoting studies which on their face are flawed studies. (more)
The media manipulation of the political discussion has so divided our nation that people have actually been killed by the efforts of fake news and their Democrat allies. All of this collective resistance has created a toxic stew of distrust and unease in the American people. Distrust and division are extreme; and there’s a very good reason why so many Americans are angry toward the media and those who are weaponizing news.
Obviously CNN has to ignore all the column inches and hours of broadcast where they politicized the treatment. As often said: in order for left-wing ideologues to maintain the fallacies within their political positions, they must pretend not to know things….
This is very interesting. The document described in the video below is available HERE. Research into state health regulations by Fog City Midge shows that new guidance for the definition of COVID-19 positive infections is likely the biggest background cause in a dramatic upswing in positive test results. WATCH:
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This revelation would explain exactly why those who construct the reporting systems are pushing so hard for contact tracing. According to the new guidance anyone who comes into contact with a person who tests positive is now also considered positive. [pdf link]
Nice convenient way to inflate the infection rate. The verified source is Here
In order to support the most important political objectives of the DNC writ large in the 2020 election, COVID-19 hype is essential:
♦Without COVID-19 panic Democrats cannot easily achieve ‘mail-in’ voting; which they desperately need in key battleground states in order to control the outcome.
♦Without COVID-19 panic Democrats cannot shut down rallies and political campaigning efforts of President Trump; which they desperate need to do in key battleground states.
♦Without COVID-19 panic Democrats cannot block the campaign contrast between an energetic President Trump and a physically tenuous, mentally compromised, challenger.
♦Without COVID-19 panic Democrats do not have an excuse for cancelling the DNC convention in Milwaukee; thereby blocking Team Bernie Sanders from visible opposition while protecting candidate gibberish from himself.
♦Without COVID-19 panic Democrats do not have a mechanism to keep voters isolated from each-other; limiting communication and national debate adverse to their interests. COVID-19 panic pushes the national conversation into the digital space where Big Tech controls every element of the conversation.
♦Without COVID-19 panic Democrats cannot keep their Blue state economies easily shut-down and continue to block U.S. economic growth. All thriving economies are against the political interests of Democrats.
♦Without COVID-19 panic Democrats cannot easily keep club candidate Joe Biden sealed in the basement; where the electorate is not exposed to visible signs of his dementia.
♦Without COVID-19 panic it becomes more difficult for Big Tech to censor voices that would outline the fraud and scheme. With COVID-19 panic they have a better method and an excuse.
♦Without COVID-19 panic Democrats cannot advance, influence, or organize their preferred presidential debate format, a ‘virtual presidential debate’ series.
[Comrade Gretchen Whitmer knows this plan, hence she cancelled the Michigan venue]
All of these, and more, strategic outcomes are based on the manufactured weaponization of the COVID-19 virus to achieve a larger political objective. There is ZERO benefit to anyone other than Democrats for the overwhelming hype surrounding COVID-19.
It is not coincidental that all corporate media are all-in to facilitate the demanded fear that Democrats need in order to achieve their objectives. Thus there is an alignment of all big government institutions and multinationals to support the same.
Earlier today President Trump participated in a showcase celebrating products made in the USA. [Video and Transcript Below]
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[Transcript] – THE PRESIDENT: Please. Very nice. Thank you. Big day. It’s my pleasure to welcome you all to the beautiful, great White House and to host this magnificent showcase of America’s incredible small businesses. I just got to witness some beautiful product.
Today, we received outstanding news from all over our country, really. The United States economy has added almost 5 million new jobs in the month of June. That’s shattering all expectations and shattering all records — historic records. History of our country, we’ve never added anywhere near that.
And last month, we also broke the record, but now we shattered it. Much higher than even last month. This is the largest monthly jobs gain in history. We added 2.1 million leisure and hospitality jobs, 740,000 retail jobs, 568,000 education jobs and healthcare jobs, 357,000 service jobs — and very importantly to me, because you know what’s happening with manufacturing, where we’re bring it back because we’ve made incredible trade deals — so manufacturing jobs are coming back, and we added 356,000 manufacturing jobs. Incredible. Incredible numbers. All records.
African American workers made historic gains, the likes of which we’ve never had before, with 404,000 new jobs in June. That’s a record, and that’s the highest number ever. We had 700,000 new jobs over the last two months for African American workers; that’s the highest ever. And both — both months are the highest. We shattered last month’s record. That was a record, and we shattered it.
Hispanic employment is up by 1.5 million jobs. Great businessmen and women, and they’re up 1.5 — think of it — million jobs. Hispanic.
Eighty percent of small businesses are now open. New business applications have doubled since late March. America’s economy is coming back much stronger than ever anticipated by most people, almost all people, because these numbers were — even the most optimistic people, these numbers are being doubled and tripled over what they thought would be possible.
We’re grateful to be joined today by Secretary of Commerce Wilbur Ross. Thank you very much, Wilbur. Thank you very much. You’re doing a great job.
Every company here today embodies true American excellence. Your stunning craftsmanship — I just witnessed some of it; it’s incredible — it’s treasured and prized all over the world. The product you make is like none other. And your spirit for America and the greatness of our country is unrivaled.
With us are workers who make decorative American flags from Virginia; fly-fishing reels from Florida; grills from Illinois; pies from North Carolina — they look very good to me; coffee from Oklahoma; ice cream from Maryland; and sunscreen and baseball bats from Texas. With unmatched skill and devotion, you make the goods and build the products that proudly bear the wonderful phrase, “Made in the USA.” You’re seeing that more and more: “Made in the USA.”
We’re bringing our jobs back because of trade deals. We have great trade deals, and jobs are coming back. And we have a lot of great trade deals right now under negotiation. We got to get them done as quickly as possible.
The small businesses represented in this room continue a great and noble American heritage. You’re entrepreneurs, artisans, creators, craftsman who forge your own path, made your own products, and provide good-paying jobs for our citizens. Incredible jobs, incredible people, and they truly are artisans. And you’re doing it all with American hands, American heart, and American pride.
Several of these companies are entirely veteran-owned and operated. Especially as we approach Independence Day, I want to thank the courageous men and women who’ve served their country in uniform. We vow to honor your sacrifice by forever defending the rights, freedoms, and principles you risk your entire life to defend.
Following the arrival of the plague from China — and that’s what it is; it’s a plague and it should have never happened. China should have never let that happen, but China did allow it to happen. We just signed a brand-new trade deal, and the ink wasn’t even dry when this came over.
But we raced into action to save our nation’s small businesses. We passed over $3 trillion in historic relief measures — $3 trillion; think of that — including over $670 billion for the Paycheck Protection Program, a tremendous success, as you can see by the numbers.
To keep small-business workers on the payroll, I signed a bill providing federally funded paid sick leave and paid family leave for American workers. Things that have never been done. We’re allowing businesses to defer paying their income tax. And we expanded tax refunds very substantially.
Thanks to our efforts and the incredible resilience of our nation’s small businesses — and I really think we can add the foundation that we built. We built the greatest economy ever built, and that foundation was so strong that, instead of coming weakly back or going in the other direction — because this is coming back, and we haven’t totally succeeded yet; we will soon. But we haven’t killed all of the virus yet.
And yet, you look at these numbers — and that’s based on a very strong foundation that we built, a foundation like no other; a foundation that, had we not been attacked by this virus, this horrible virus — we were doing things and had things planned that nobody else had ever even thought of: paying off debt; building numbers, the likes of which nobody has seen. And yet, next year, we’ll be in a position where, I believe, in a certain respect, I think we’ll even be stronger than we would have been because of what we’re doing.
But only that strong foundation allowed us to be up here today talking about these record-setting job numbers and other numbers that we’re producing, because America’s economy is now roaring back to life like nobody has ever seen before. Nobody has ever seen numbers like this.
In May, retail sales surged by nearly 18 percent. That’s a record. We recently saw the best 50-day increase in the history of the stock market. So we had 50 days — go back a couple of weeks — we had 50 days, the likes of which we’ve never had in the history of the stock market, which to me means jobs.
And it’s lifting up 401(k)s and retirement savings for American workers. We’re doing numbers like nobody has ever seen before. Take a look at 401(k)s. In a pandemic, we’re almost even with where we were before the pandemic started, and nobody would have said that was possible — nobody at all.
We built the greatest economy in the history of the world, and we’re now doing it again. And I think we’ll do even better the second time than we did the first time, unless somebody comes along and says, “Let’s raise taxes on everybody.” And they’re raising taxes not only on corporations — they’ll just go to another country, and they’ll do just fine — but they’re raising taxes on people and middle-income people, and they’re losing jobs.
So you can’t allow that to happen. That will be — all of this incredible job that we’ve done will go down like that. It will be a terrible, terrible sight. It might even be a 1929 situation. So you have a chance to have the greatest numbers in history. You’re almost there.
We’re almost back to where we were from the standpoint of stock market. Think of that. But you’ll have a crash like you’ve never seen before. If you put the wrong person in office, you’ll see things that you would not have believed are possible. They want to raise taxes, they want to raise regulations. You know, a big part of what we’ve done is by cutting regulation. We’ve cut regulation more than any President in the history of our country, whether they’re there for four years, eight years, or in one case, more than that. Nobody even came close. And we’re doing much more. We have regulation, but it’s proper regulation, not strangulation.
We’re also tapping into the talent, genius, and the drive of our people to kill the virus. We’re speeding the delivery of new treatments, including anti-viral steroids, convalescent plasma, and other therapies. We have therapeutics that are really, really looking good, and this includes two drugs that have proven effective: remdesivir and dexamethasone, which is having a tremendous trial. And we’ll see how that all happens.
But we have three vaccine candidates. We’ve had many more, but three are really, really looking good, and I think you’re going to have an answer to that very soon. Three vaccine candidates are now in trial, with three more to start very shortly. These are all great companies. They’ve had tremendous success with other problems in the past.
And we’re accelerating production through Operation Warp Speed. Plus, we have our military ready, so that should we get — whether it’s therapeutic or vaccine — our military is ready, logistically ready. These are the best in the world to get it out to everybody as soon as we have it. And we think we’re going to have it soon.
As we prepare to celebrate the Fourth of July, let us renew our devotion to this nation, to its citizens, and the eternal values that define our past and shape our future.
I’m going to Mount Rushmore on July 3rd. We’re going to have a tremendous evening. It’s going to be a fireworks display like few people have seen. It’s going to be very exciting. It’s going to be beautiful.
They’ve been wanting to do that for years — fireworks. They used to do it many years ago, and, for some reason, they were unable or unallowed to do it. They just weren’t allowed to do it. And I opened it up, and we’re going to have a tremendous July 3rd. And then we’re coming back here, celebrating the Fourth of July in Washington, D.C.
And I want to also thank all of law enforcement. The job you’ve done is incredible. We signed a bill. If you play with our monuments or our statues, you go to jail for 10 years. It’s amazing how it all stops so fast. Stops so fast. We let the local authorities handle it as long as possible, but ultimately we said, “Let’s step in.” And we stepped in and it stopped. Ten years in jail if they do what they were doing.
So we’re very proud of law enforcement. We want to thank law enforcement. Really great job. Our military has been incredible. Our National Guard has been just incredible all over.
I’m glad to see, in Seattle, they took care of the problem, because as they know, we were going in to take. We were ready to go in and they knew that too. And they went in and they did what they had to do.
We’re a nation committed to equal and abundant opportunity for citizens of every race, color, religion, and creed. The American Dream is the sacred birthright of every American child, and that’s what we have, is we have the American Dream. And nobody is going to shatter the American Dream — not the anarchists, not the agitators, not the fools, not the looters. They’re not going to have any impact on the national dream — the national dream like no other.
That’s why we’re here today, to ensure that every citizen can achieve their dream, achieve their destiny, and realize their full and extraordinary potential. That is how we will renew, rebuild, and restore America.
We’ve done an incredible job in a three-and-a-half-year period, a job like nobody thought would be possible to be done. And we’re doing it again, and we’re doing it, I believe, bigger and better and stronger than ever before. You’re going to see that next year. And unless it’s tampered with, we’re going to have a year next year like no other. It’ll be a phenomenal year, a successful year.
And we’ll have our best job numbers ever next year. We’ll come back stronger and more prosperous than ever before. Next year will be — I think it’ll be one of the — from an economic standpoint, the greatest or one of the greatest economic years we’ve ever had.
So I just want to thank everybody for being here. I want to thank all of these incredible artisans and business people for showcasing your amazing products. And I just want to leave you by saying very important words: God bless America.
Thank you all very much. Thank you. Thank you very much. (Applause.)
Following a stunning and optimistic jobs report, President Trump, Treasury Secretary Mnuchin and National Economic Council Chairman Larry Kudlow held a press conference to discuss the economy. [Video and Transcript Below]
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[Transcript] – THE PRESIDENT: Well, thank you very much, everybody. Appreciate it. This is mostly an economic conference, and we have Steve Mnuchin with us, Larry Kudlow.
I’d like to just announce the spectacular news for American workers and American families and for our country as a whole. There’s not been anything like this — record setting. It was just put out that the United States economy added almost 5 million jobs in the month of June, shattering all expectations.
I was watching this morning, and the expectations were much lower than that. The stock market is doing extremely well, which means, to me, jobs. That’s what it means: jobs. This is the largest monthly jobs gain in the history of our country. The unemployment rate fell by more than 2 percentage points down to just about 11 percent. We’re down to the 11 percent number. We started at a number very much higher than that. As you know, we broke the record last month, and we broke it again this month in an even bigger way.
This news comes on top of May’s extraordinary jobs report, which was revised upwards, by the way, to 2.7 million jobs; it was 2.5. That was last month, and that was a record setter, but it actually got a little bit better. We revised it, and it was revised upward to 2.7 million jobs for a combined total of 7.5 million jobs created in the last two months. And that’s a record by many millions of jobs. So it’s 7.5 million jobs created in the last two months alone.
Today’s announcement proves that our economy is roaring back. It’s coming back extremely strong. We have some areas where we’re putting out the flames or the fires, and that’s working out well. We’re working very closely with governors, and I think it’s working out very well. I think you’ll see that shortly.
In June, we added 2.1 million leisure and hospitality jobs; 740,000 retail jobs; 568,000 education and healthcare jobs; 357,000 service jobs — these are all historic numbers — and 356,000 manufacturing jobs. And manufacturing looks like it’s ready to really take off at a level that it’s never been before. And a lot of that has to do with our trade policy, because we’re bringing manufacturing back to our country. And these take a long time to get — to get going, and they’re now going.
So these are historic numbers. I’m really happy when I see 356,000 manufacturing jobs, and that’s just a small number compared to what it will be soon because of our great trade deals.
African American workers — really happily for me — made historic gains with 404,000 jobs added last month alone, and that’s a record. And the second largest jump will be last month — and what we have, if you add the two months together, it’s 700,000 jobs for African American workers added in the last two months. And that’s a record by a lot.
Likewise, Hispanic employment is up by 1.5 million jobs, a record by a lot. Hispanic employment up 1.5 million jobs.
Three million more women were employed in the month of June, a record. Never had a number like that.
Workers with a high school education or less made the biggest strides of all. So people that have just a high school education, or have less than a high school education — with unemployment, those without a high school diploma dropped a full 3.3 percentage points; that’s the largest drop in recorded history.
Eighty percent of small businesses are now open. Eighty percent. And we think we’re going to have some very good numbers in the coming months because others are opening. And especially as we put the flame out — getting rid of the flame; it’s happening.
New business applications have doubled since late March. That’s a number that is not even thinkable to achieve this early into a pandemic. The latest ISM Manufacturing Report rose 10 percentage points, with new orders jumping a remarkable 25 percentage points — all a record.
Consumer confidence, which is great — that’s a great number to me because that means confidence is really good. If you don’t have good consumer confidence — it’s like life: If you don’t have confidence, you’re not going to do very well. Consumer confidence has risen 12 points since April. And six-month job expectations hit the all-time — an all-time high.
So think of that for a second: With all we go through, with all of the trials and tribulations that we read about every night — much of it totally fake news, fortunately. And if the consumer didn’t get it, you wouldn’t have good consumer confidence. We have — consumer confidence has risen 12 points since April, an all-time high. Think of that.
Retail sales surged an astonished — astonishing 18 percent. So retail sales went up an astonishing 18 percent in May. That’s the largest increase in the history of our country. That’s a tremendous number, 18 percent. The number of — and what it means to me is jobs.
The number of unemployed Americans reentering the labor force rose by 43 percent, and fewer workers are dropping out of the labor force than before.
And the crisis is being handled. You know, if you look — we were talking this morning — something to think about — China was way early and they’re getting under control just now. And Europe was way early, and they’re getting under control. We followed them, with this terrible China virus, and we are likewise getting under control.
Some areas that were very hard-hit are now doing very well. Some were doing very well, and we thought they may be gone and they flare up, and we’re putting out the fires. But other places were long before us, and they’re now — it’s like life; it’s got a life. And we’re putting out that life, because that’s a bad life that we’re talking about.
But all of this suggests that workers are confident about fighting a new job.
The stock market is soaring with the best gains in over 20 years. In the second quarter, the Dow Jones increased 18 percent. This is in a quarter — 18. These are not numbers that people have heard about. It’s the best in 33 years. The S&P 500 increased by almost 20 percent, the best since 1998 for the quarter. And NASDAQ increased over 30 percent, the best since 1999.
And we had a 50-month — if you look over a long period of time, a phenomenal number. But if you look since the election, we’ve gone up — the Dow went up close to 45 percent. The S&P 500 went up 47 percent, and NASDAQ composite went up — getting close to 100 percent. So these are numbers that are not numbers that other presidents would have. And they won’t have it. The only thing they can kill it is a bad president or a president that wants to raise taxes.
You want to raise taxes? This whole thing — your 401(k)s will drop down to nothing, and your stock market will drop down to nothing. This is not just luck, what’s happening; this is a lot of talent.
All of this incredible news is the result of historic actions my administration has taken working with our partners in Congress to rescue the U.S. economy from a horrible event that was formed, took place in China, and came here. And they could have stopped it. They could have stopped it. Nobody likes to write that, but they could have stopped it. They know it, and I know it.
Through the Paycheck Protection Program, we’ve extended over $520 billion in loans to nearly 5 million small businesses, saving and supporting the jobs of tens of millions of American workers. This has been a tremendous success; levels that nobody has ever seen before. But we saved all of those — all of those jobs and all of those small businesses. And some will be large businesses soon, perhaps.
We also rushed urgently needed relief to millions and millions of hardworking taxpayers. They got that directly, and we’re working on a phase four. We’re working with Congress. That work has started. Steve Mnuchin can give you a little briefing. We’re talking about payroll tax cuts, we’re talking about more money being infused. And it comes back to us. It comes back. It’s all coming back. It’s coming back faster, bigger, and better than we ever thought possible. These are the numbers. These are not numbers made up by me; these are numbers.
We’ve implemented an aggressive strategy to vanquish and kill the virus, and protect Americans at the highest risk, while allowing those at lower risk to return safely to work. That’s what’s happening.
Our health experts continue to address the temporary hotspots in certain cities and counties. And we’re working very hard on that. We’re — the relationship with the governors is very good. We made a call — Mike Pence made a call just yesterday and said, “What do you need?” Not one governor needed anything. They don’t need anything. They have all the medical equipment they can have. Thank you, U.S. government.
They have all of the ventilators they have — you know, we’re giving many ventilators and selling, in some cases, and giving when needed. But we’re — we’re the ventilator king. We’re now producing thousands of ventilators — thousands of ventilators a week.
And we’re helping other countries. And other countries are desperately in need of ventilators, because this is now at 189 countries. That changes all the time, that number. Our last count is 189 countries, and many of them don’t have money and they — almost all of them don’t have a capacity to build a ventilator, which is hard to build — very complex, very expensive. Very big, in many cases. We’ve done an incredible job. So we have assembly lines building ventilators, and we’re building thousands a week.
All of these people are working with governors and local officials to restore best practices, and that’s what we’ve done. That includes face coverings, social distancing, testing, and personal hygiene. Wash your hands.
State officials will decide how rapidly to open their economies. That’s largely up to them. If we see something that’s egregious, we’ve gotten involved with a couple of them where we thought it was unfair. We’d like to see churches opened quickly. And some of them just don’t want to do that. In New York, we got a great ruling from a judge — thank you, Judge — that they can open.
If these best practices are implemented, then the hotspots can be calmed quickly. And we understand this horrible disease right now. We didn’t understand the disease at all. We did the right thing. We closed it up. We would have lost millions of lives. We’ve done a historic thing. We would have lost millions of lives. And now we’re opening it up, and it’s opening up far faster than anybody thought even possible, and more successfully.
And as I said, you’re going to have a fantastic third quarter. It’ll be a third quarter, the likes of which nobody has ever seen before, in my opinion. And the good thing is the numbers will be coming out just prior to the election, so people will be able to see those numbers. The fourth quarter, likewise, will be extremely good. And maybe most importantly, from the standpoint of our country itself, next year will be a historic year. Next year is going to be an incredible year for jobs, for companies, for growth. Things are happening like nobody would have thought possible.
I do want to comment: Boeing, as you know, is moving along in their process. It’s been a very hard process, a very complicated progress — process, but they have made tremendous, tremendous gains. And they’re going for approvals on the aircraft, the 737 Max. They’re also starting to do some real business.
So I just want to congratulate Boeing. They’ve been through so much. I think it was probably the greatest company in the world. I used to say it was the greatest company in the world, and then it ran through a very tough period of time.
But I just want to say that Boeing has made tremendous progress in a short period of time, and other companies I don’t even have to talk about because they’re all setting records, every one — virtually every one of our great companies are setting records.
So I want to thank everybody for being here today. These are historic numbers in a time that a lot of people would have wilted; they would have wilted. But we didn’t wilt, and our country didn’t wilt. And I’m very honored to be your President.
Thank you very much. Thank you.
SECRETARY MNUCHIN: So let me just make some additional comments. And, first of all, we couldn’t be more pleased with the results. Today, again, between this month and last month, that’s about 8 million jobs, 8 million people we put back to work because of the CARES Act and working with Congress.
I think, as you know, people thought we would have 30 million people unemployed. Fortunately, we never got to that. So, 8 million jobs back, but our work is not done. Our work won’t be done until every single American who lost their job because of COVID gets back to work.
And there’s no question — I want to thank the Senate and the House for working with us — there’s no question these programs are working. I also want to thank them for extending the PPP.
As I’ve said, it’s our priority when we get to the CARES 4 bill in July, we will look to work with the House and Senate on a bipartisan basis to repurpose that money. We have about $130 billion left. There are going to be a number of businesses that are particularly hard hit, and we’ll be looking to give those businesses additional money. So CARES 4 will be much more targeted for the businesses that continue to need work, but there is no question that this is working.
And we look forward to continuing this progress. Again, I think 8 million jobs, really extraordinary.
Now, let me just make one other comment: Director Kudlow and I are not wearing masks up here because we’ve both been tested this morning. Okay? And that’s the only reason. But even with that, we did social distance. So I’m pleased to see you’re all wearing masks.
I’m going to let Director Kudlow make a few comments, and then we’ll both be happy to take questions.
MR. KUDLOW: Thanks, Steven. Just briefly, underscoring these high-frequency indicators, you know, it’s a difficult thing to do. We haven’t had much experience with these pandemics. But I will say this: The Apple mobility index is a very important index. It’s a real — literally a real-time daily indicator, and we’re not seeing any declines. It’s still strengthening, even, I might add, in some of the southwestern states which have difficult hotspots.
Housing demand and housing surveys are just soaring. Automobile demand now expected for the third quarter, about 10 million-plus production units. The trucking surveys look very, very strong.
And the Dallas Fed survey — I don’t recall if it was in the President’s notes — because it’s obviously in Texas, a bad hotspot — the Dallas Fed survey, which goes to the end of the month, has not yet shown any declines. Now, it may; I’m not going to rule that out.
And I would say as a general matter, these job numbers, as good as they are — erasing a third to a half of those who are unemployed — there’s still a lot of hardship and a lot of heartbreak in these numbers. I understand that. And the economy is on its way back. We have a ways to go.
I will, however, continue to reference the Congressional Budget Office, which is looking for a very strong third quarter and second half, and a number of private surveys and private forecasters who see the same story on the V-shaped recovery. And with good policies and leadership, 2021 can be a big bang year, and we will be able to get back to the peak levels of 2019. So I believe we’re well positioned. I think we have a lot more work to do; I get that.
And as Steven mentioned, we’ll see how the policy discussions go later this month. Thanks.
SECRETARY MNUCHIN: Sure, go ahead.
Q Mr. Secretary, are you concerned to see new unemployment claims rising? We’re at 1.4 million layoffs last week, and that number is actually going up, not going down. Are you concerned about that?
SECRETARY MNUCHIN: Well, let me just say again — I want to just say we’re going to be concerned until every single person is back to work.
Now, when you look at these numbers, I think it’s tough enough to predict economic numbers in normal times. In these times, you have to look at all these numbers in the entirety. So what I would say on that is, there’s a lag on the unemployment claims. I think you also know many of the states we set up front are completely backed up.
So, no, I would focus on — the jobs numbers are the most accurate numbers, the trend of 8 million jobs back. But having said that, I’m concerned until we get everybody back to work.
Q Obviously, this is good news today, no question about it, but it’s also obvious that the crisis that is surging through Sun Belt states — record number of cases nationally yesterday — threatens all of these economic gains. Many states are throwing their re-openings into reverse.
What additional actions is the administration going to take to stop that? Will the administration, and will the President specifically, call on Americans to wear masks? And why don’t we have, rather than you guys celebrating good news that’s already happened — why don’t we have the Coronavirus Task Force up here giving briefings on how to get under control what is obviously not under control, as Anthony Fauci said this week?
SECRETARY MNUCHIN: Well, let me just say, I am on the Coronavirus Task Force, so I’m happy to answer a few of those questions.
I can’t comment on the schedule of briefings. I’m not aware of that.
The President specifically put in his speech encouraging Americans to wear masks, social distance, and hygiene. Because he’s the President of the United States and people are not around him — close — and the people who are around are tested, I don’t think he needs to wear a mask.
But the rest —
Q But doesn’t he want to show people?
SECRETARY MNUCHIN: But the rest — but the rest of us, absolutely. And the President supports wearing masks. I was at the House this week testifying. I’m sure you saw my picture with Chair Powell on the Wall Street Journal; I never thought we’d have a picture like that. But, yes, we are encouraging Americans to wear masks.
Now, unlike last time, as I’ve said — and, yes, I realize the numbers of cases; we’re monitoring that carefully. We’re monitoring the hospital capacity. Let me just say, I’ve been briefed on where we are on vaccines and virals. I’m very encouraged we’ll have things by the end of the year.
So, yes, we’re going to be careful. And I wouldn’t say “reverse”; I would say the states appropriately are pausing certain things, like bars and gyms, which obviously are the more contagious types of things. And I think the states are acting appropriately.
Yes.
Q Thank you, Mr. Secretary.
MR. KUDLOW: Excuse me. To Jon’s question, there is — Jon, look, Deborah Birx has been down in Arizona and Texas. So they have take — put a team in play, and CDC is doing more of that. And what they’re doing is working with local officials — government officials, but health officials — to really reemphasize what I call the list of best practices. And I think that will do the trick. And if you have to phase out — as Steven said, if you phase out bars, so be it, for a few weeks.
I think some places might’ve been over-exuberant and now have to come back and get back to these best practices of distancing and masks and testing and personal hygiene.
Q But, Larry, the President just said a few minutes ago that we’re getting this under control. It is obvious to anyone watching that it is not under control, and Anthony Fauci said so out loud this week.
SECRETARY MNUCHIN: I think what — I think what Dr. Fauci said is that if people don’t take these things seriously —
MR. KUDLOW: Yeah.
SECRETARY MNUCHIN: — okay? — that the numbers could continue to spike. So —
Q They’re spiking right now.
SECRETARY MNUCHIN: Again, what I’d say is: The numbers are up; we’re obviously watching this very carefully. We think that there is the right balance, and we’re working with the states on the health issues and the economic issues.
We’ll go to the next question.
Q So, Mr. Secretary, there is a record number of new infections every day. Does the White House regret encouraging states to open as quickly as it did? And do you think some of that is backfiring?
SECRETARY MNUCHIN: No, absolutely not. I think we’ve had a very careful plan — again, working with the states. This is primarily the state’s responsibility, but working with the states.
And again, I think there’s plenty of places we can get people back to work safely. I can tell you, in the Treasury, we’re going to take more people back. We are social distancing. We’re checking people’s temperature at times.
There is a safe way to reopen the economy, and we’re going to do that carefully.
Yes.
Q So what lesson are you taking from what’s happening?
Q Mr. Secretary, a lot of Americans are worried about what’s going to happen with schools in the fall for kids. And there’s a real economic argument that, without schools, a lot of the workforce can’t actually truly return to work. What is the administration doing about this? How are you working on it? Are there strategies that you’re trying to employ?
SECRETARY MNUCHIN: We’re working with schools and universities. Again, I think in most cases, schools will be able to open safely. Some schools will need to spend money. One of the things we’ll look at in CARES 4 is if we need to give money to schools to properly equip their areas. I think that’s something that will be high —
Q You would support additional funds to schools?
SECRETARY MNUCHIN: Absolutely. We want to make sure that kids are safe and that if there is money that schools need to spend to safely have people in classrooms, social distance, spread things out, change hours — these are all the things we’re looking at.
Q Mr. Secretary, can you assess the current need for American families in a phase four bill? I mean, in the spring, you said that a very big number was needed. What’s the current need?
SECRETARY MNUCHIN: I think it’s too early to tell. And that’s the reason why we’re — we’re waiting. We’ve spent an unprecedented amount of money. We have authorization of $3 trillion. That’s an extraordinary amount of money. A lot of that money is not in the economy yet. We’re continuing. That’s why we’re extending things like the PPP.
And before we go back to Congress — and I’m already having conversations with certain members of Democrats and Republicans to get ideas, but we want to see the economic numbers. As I said earlier, people thought we were going to have 30 million people unemployed right now. Fortunately, we’re about 15 million unemployed. We had 5 million people unemployed before this, so we got 10 million to put back to work.
The President is committed to do what we need to do in the next bill to protect kids, protect jobs, protect liability.
Yes, in the back.
Q Mr. Secretary, if you take a look at the President’s Twitter feed over the past few days, he tweeted a video of a supporter yelling, “white power.” He’s been tweeting a veto threat if the — if military bases are named away from Confederate generals. He’s been tweeting a lot about Confederate statues and not wanting them to come down.
We’re in the middle of a pandemic. Is the President more focused on preserving or celebrating the Confederacy than getting this pandemic under control?
SECRETARY MNUCHIN: Let me just say, I think the President is focused on everything. I think this issue of statues and everything else is a complicated issue.
There was an op-ed in the Wall Street Journal from the Cardinal in New York about the Bible and everybody other than Mary and Jesus Christ. I think it’s a very complicated issue. We need to have a balanced view of history.
Q Should the President apologize for the “white power” video? Because he hasn’t.
SECRETARY MNUCHIN: Again, I’m not — we’re here to talk about economics.
We’ll take one more question in the back.
Q Mr. Secretary —
SECRETARY MNUCHIN: In the back. Yes.
Q Mr. Secretary, where is the Treasury Department on sending stimulus checks to mixed-status families. There is a lawsuit that was allowed to proceed. Are you guys going to be doing that anytime soon, or are you going to leave it to the courts to decide whether the Treasury Department has to do it?
SECRETARY MNUCHIN: I’m sorry, I didn’t understand the question. What’s the question? On stimulus checks?
Q To mixed-status families, so parents of undoc- — of American-citizen children, people who are married to undocumented —
SECRETARY MNUCHIN: Our position is that legal Americans, American citizens should get the payments. That’s our focus. If people are here illegally, they’re not going to get economic payments. So —
Q Even if they have —
SECRETARY MNUCHIN: But let me just say we’re very focused on — as part of the next CARES Act, we’re going to serious consider whether we’re going to put more payments and direct payments over — it worked very well.
Thank you, everybody.
Q How much state and local aid? How much aid for state and local governments?
SECRETARY MNUCHIN: We’ll consider that. We’ll have discussions.
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