Perhaps the status of the economy in China is even worse than many have suspected.  An interesting public statement from their State Council today highlights a promise by China to support jobs during their current economic downturn.

Against the backdrop of Hong Kong’s protests toward Beijing oppression, a rebellion of the people against the command authority is the single-most feared action by those in charge of government.  If the economy is in worse position than previously thought, this latest statement might explain some of Beijings’ recent trade and economic concessions.

(Reuters) – China will step up support for employment to cope with rising pressure on job security due to internal and external challenges, the cabinet said on Tuesday, as the world’s second-largest economy slows.

Simultaneous downturns in the services and manufacturing industries pose a major problem for authorities seeking to keep a lid on unemployment and prevent social unrest as economic growth decelerates to near three-decade lows.

“At present, China’s employment situation is generally stable, but risks and challenges at home and abroad are increasing and the pressure to stabilise employment is increasing,” the State Council said in a statement.

The government will attach equal importance to creating new jobs and safeguarding existing jobs, and make more effort to head off risks of unemployment, it said.

China will step up financial support for private and small firms, including implementing targeted reserve requirement cuts and encouraging banks to boost long-term loans to small firms in the manufacturing sector, the cabinet said. (read more)

There are always lags within economies based on adverse conditions.  The economic landscape today is likely the surfacing of economic conditions six months ago (+/-).

It was always a question of when the devaluing of currency and over-use of state subsidies to cover financial gaps caused by the trade conflict would surface.  Perhaps Beijing is responding to the beginning of those consequences?…

Following a Christmas eve call to U.S. service members, President Trump answers questions on a variety of topics from the press pool.  [Video Below]

Earlier this morning Commander-in-Chief President Donald Trump hosted a Christmas Eve video teleconference with members of the Army, Marine Corps, Navy, Air Force, and Coast Guard to thank them for their service and wish them a merry Christmas.

Participating on the call were: ♦ARMY Unit: 103 Sustained Command, Location: Camp Arifjan, Kuwait Captain Roxanna Flores.  ♦MARINE CORPS Unit: Task Force Southwest 19.2, Location: Camp Shorab, Afghanistan, Brigadier General David Odom. ♦NAVY
Unit: USS Forest Sherman (DDG 98), Location: Gulf of Aden, Commander Frank Azzarello.  ♦AIR FORCE Unit: 20th Attack Squadron, Location: Whiteman AFB, Missouri
Lieutenant Colonel Daniel Wassmuth; and ♦COAST GUARD Unit: CG Air Station Sitka,
Location: Sitka, Alaska, Captain Michael Frawley.  [Video Below]

Jumping Ju-Ju Bones, Santa cancelled the recession!!

According to the latest data stats from last weekend, Saturday holiday shopping in the U.S. was more than $34.4 billion in sales.  That’s the largest single day in the history of U.S. retail sales.  Higher wages, record employment, low inflation, consumer confidence and economic security means more disposable income… boy howdy, these numbers are huge.

Keep in mind U.S. retail sales account for two-thirds of U.S. GDP growth. Wow:

(MSM-Bloomberg) Holiday shopping set records over the weekend, with Super Saturday sales reaching $34.4 billion, the biggest single day in U.S. retail history, according to Customer Growth Partners.

“Paced by the ‘Big Four’ mega-retailers — Walmart, Amazon, Costco and Target — Super Saturday was boosted by the best traffic our team has seen in years,” said Craig Johnson, president of the retail research firm.

Job growth and fatter wallets, along with stronger household finances, have put consumers in a buying mood this season, Johnson said. And more of them are shopping online. As retailers offer improved web platforms, online spending so far this season has accounted for 58% of sales growth from a year earlier, he said.

Super Saturday’s results topped Black Friday’s $31.2 billion in sales by 10%. The next biggest shopping days were Dec. 14, with $28.1 billion, and Cyber Monday, with $19.1 billion. (more)

Tax cuts and regulatory reform; USMCA trade agreement negotiated and passed; Mexico halting illegal migration flows; new central American amnesty agreements; border wall under construction; lower energy costs; lower and stabilized fuel costs; highest blue collar wage gains in decades; largest resurgence of manufacturing jobs in 50 years; Korea-US trade agreement (KORUS); U.S-Japan trade agreement; U.S-China trade agreement (phase-1); withdrawal from Trans-Pacific multinationals (TPP); dissolution of Paris climate treaty; approval for ANWR energy development; five new gasoline refineries; U.S. energy independence; U.S. worlds largest producer of energy; LNG energy exports; elimination of excessive federal regulations; SNAP reforms; 3.5% unemployment; largest employed U.S. workforce in history; 150,000 employer registrations to U.S. trade-skills apprenticeship; seven new industrial steel manufacturing plants; low and stable 1.5% inflation; highest GDP growth amid industrial nations; highest consumer confidence in decades; highest small business confidence in decades; 7.3 million jobs available (JOLTS); one year net employment gain 2.4 million workers; two supreme court justices; no new wars; NATO countries stepping up defense financing; troops coming home; pay raises for military; VA Choice created; right-to-try legislation passed; U.S. embassy in Jerusalem; North Korean hostages released; ISIS destroyed, caliphate dismantled; al-Bagdadi dead.  These are just a few of President Trump’s recent accomplishments off the top of my head:

Donald J Trump was the only candidate in 2016 who knew how to use China’s panda playbook against them.  Thus, when you plant your tree in another man’s orchard, don’t be surprised when he charges you to harvest your own apples…

BEIJING (Reuters) – China will lower import tariffs on over 850 products from Jan. 1, including frozen pork and frozen avocado, the finance ministry said.

It will also further lower import tariffs on some information technology products from July 1 next year, said the ministry, in a statement on its website. (link)

Today President Trump will be speaking at Turning Point USA’s Student Action Summit in West Palm Beach, Florida.  The anticipated start time is 5:00pm ET:

WH Livestream Link – Fox News Livestream Link – NBC Livestream Link

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An interesting tweet from President Trump today with a clearly coded message to North Korean Chairman Kim Jong-un.  Within the message President Trump notes an ongoing dialogue with Chinese Chairman Xi Jinping about Kim’s status.

The hostage negotiations happening against the backdrop of a negotiated ransom, the U.S-China “phase-one” trade agreement:

BEIJING (Reuters) – China will make good on a pledge to purchase more than $40 billion per year of U.S. agricultural products under the recently agreed Phase 1 trade deal between the two countries, China’s top agriculture consultancy said on Friday.

Chinese purchases of agricultural goods are expected to increase to $40 billion to $50 billion annually over the next two years under the deal aimed at resolving the long-running trade war between the world’s top two economies, according to U.S. Trade Representative Robert Lighthizer.

The deal has yet to be signed, fuelling scepticism over whether China will be able to import such a large amount of U.S. farm products.  (read more)

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“Complicated business folks,… complicated business”…