News Roundup! Best Recession Ever, The Panda Doesn’t Want To Become Dinner, Wilburine Drops the Hammer On China’s Ceramic Tiles, PDJT Tweets An Article About His Judicial Armada, Over 100+ Vacancies To Go, Thankfully Presidential Democrats Want To End Coal & Fracking…..

The Commerce Department and the Bureau of Labor Statistics (BLS) delivered more excellent economic results from August that continue to exceed MSM expectations.

The Commerce Dept. announced that retail sales climbed by 0.4% in August, twice as high as the 0.2% analysts had predicted. The result highlights retail sales strength of more than 4% year-over-year.

https://www.foxbusiness.com/economy/august-retail-sales

From the article linked above:

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.

https://www.reuters.com/article/us-usa-economy-idUSKCN1VY1IE?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5d7bdcdfaae53e00013acf36&utm_medium=trueAnthem&utm_source=twitter

From the article linked above:

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.

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

This means that we are importing deflation.

https://www.bls.gov/news.release/ximpim.nr0.htm

From the link above:

[…]  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.

From the article linked above:

The U.S. Census Bureau reported business inventories gained 0.4% (±0.1%) to $2,042.6 billion in July, edging out the forecast in a positive sign for third-quarter (Q3) gross domestic product (GDP). Inventories were up 4.8% (±0.4%) from July 2018.

Forecasts for July ranged from a low of 0.1% to a high of 0.4%. The consensus forecast was 0.3%. Estimates are adjusted for seasonal variations but not for price changes.

From the article linked above:

More than 1.2 million American households moved to above $50,000 in annual income between 2016 and 2018, according to Census Bureau data released on Sept. 10, a sign of a growing middle class.

The data is a boon to President Donald Trump, whose platform is centered on a strong economy and promises of increased prosperity.

While in 2016, some 58.5 percent of households enjoyed more than $50,000 in total money income, the share rose to more than 60 percent in 2018. The median household income, meanwhile, rose by nearly 2.3 percent—with all figures adjusted for inflation.

The Panda is frightened that if 1.4 billion people can’t afford to eat because of his actions, they will eventually decide to eat him.

From the article linked above:

Privately run Chinese firms bought at least 10 boatloads of U.S. soybeans on Thursday, the country’s most significant purchases since at least June, traders said, ahead of high-level talks next month aimed at ending a bilateral trade war that has lasted more than a year.

The soybean purchases, which at more than 600,000 tonnes were the largest by Chinese private importers in more than a year, are slated for shipment from U.S. Pacific Northwest export terminals from October to December, two traders with knowledge of the deals said.

Also on Thursday, the U.S. Department of Agriculture (USDA) reported China bought 10,878 tonnes of U.S. pork in the week ended September 5, the most in a single week since May.

U.S. meat traders have been anticipating a pork shortage in China due to an outbreak of African swine fever, a fatal pig disease that has reduced the Chinese herd by a third since it arrived in the country more than a year ago.

The Chinese government is trying to frame it that because our President pushed back the tariff increase timeline from October 1st to October 15th, they decided to purchase our soybeans and pork.

THEY ARE FULL OF SHIT!

https://www.scmp.com/economy/china-economy/article/3027163/china-exempt-us-pork-and-soybeans-additional-trade-war

From the article linked above:

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.”

Meanwhile our Wiburine decided to drop the hammer on China’s ceramic tiles.

I love the fact that our President tweeted this yesterday. With the Democrats stating they want to take away our 1st and 2nd Amendments, the Federal Courts become even more important to a majority of Americans. Keep in mind that 20% of Americans that voted for our President in 2016 did so because of the vacancy on the Supreme Court.

From the article linked above:

The Senate confirmed President Trump’s 150th judicial nominee, continuing his and Senate Majority Leader Mitch McConnell’s goal of shaping a more conservative judiciary.

A total of 152 judges have been confirmed since the beginning of Trump’s presidency, as of Wednesday.

“This is a historic milestone,” Judiciary Chairman Lindsey Graham said in a statement Wednesday. “These conservative judicial appointments will impact our nation for years to come.”

Graham, 64, said the Judiciary Committee plans on continuing to “push through highly qualified, conservative judges.”

The latest nominations mean Trump has seen over 100 district court judges confirmed, along with over 40 circuit court judges and two Supreme Court picks.

The great news is that there are still over 100 vacancies to fill.

https://www.uscourts.gov/judges-judgeships/judicial-vacancies

From the link above:

  • U.S. Court of Appeals – 4 vacancies
  • U.S. District Courts – 91 vacancies
  • U.S. Court of International Trade – 2 vacancies
  • U.S. Court of Federal Claims – 9 vacancies
  • TOTAL – 106 vacancies

I love that the Democrat Presidential candidates continue to push the end of coal and fracking if they are elected President.

From the article linked above:

All Darrin Kelly wanted for the energy workers in Western Pennsylvania was that the Democratic presidential hopefuls would talk to them before going to war against shale.

That opportunity slipped away last Friday when Elizabeth Warren joined Bernie Sanders in calling for a total fracking ban.

“On my first day as president, I will sign an executive order that puts a total moratorium on all new fossil-fuel leases for drilling offshore and on public lands. And I will ban fracking — everywhere,” Warren tweeted.

“It is disappointing that any national candidate would not come in here and want to talk to the men and women of this area first before unilaterally making that decision,” said Kelly, a charismatic Pittsburgh firefighter who is also the head of the powerful and influential Allegheny Fayette Labor Council. They represent workers stretching from Pittsburgh to the borders of Maryland and West Virginia.

“The natural gas industry employs well over 40,000 people just in this region alone,” Kelly said. “Countless more indirectly, providing economic opportunity for generations of families and communities that had been hollowed out by the demise of manufacturing and coal in this area.

Donald Trump won Pennsylvania with just over 40,000 votes in 2016.

He knows what happens when the energy labor force in Western Pennsylvania isn’t behind the Democratic nominee.

“You cannot win the presidency if you are a Democrat without Pennsylvania,” Brauer reminds bluntly.

 

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