News Roundup! Happy Thanksgiving, More Stock Market Records, 3rd Quarter Real GDP Rate Revised Upward, Durable Goods & Business Investments Crush the Consensus, USMCA Will Be Voted On Before the End Of the Year, NY Fed Admits PDJT Was Right About Tariffs, Decoupling Is Well Underway, PDJT Signs the Hong Kong Human Rights & Democracy Act, Trump Supporters Continue To Speak Out, PDJT Drives Them Crazy With His Tweets, Jon Voight…..

I want to wish the Q Tree/U Tree family a Happy Thanksgiving! Each and everyone of you have brought me so much joy in my life. I am thankful for each and everyone of you!

The Economic WINNING over the past three days has been incredible. For the 3rd consecutive day, the Stock Market set new records (DJIA, S&P 500, Nasdaq Composite and Russell 2000).

From the article linked above:

Stocks rose slightly on Wednesday, building on their record-setting run after the release of stronger-than-forecast economic data.

The S&P 500 climbed 0.4% to 3153.64 while the Nasdaq Composite advanced 0.7% to 8705.18. The Dow Jones Industrial Average gained 42.32 points, or 0.2%, to 28,164. The averages posted fresh intraday records and notched their fourth straight day of gains.

The Second Estimate for the 3rd Quarter was released yesterday. The real GDP rate was adjusted upward from 1.9% to 2.1%.

https://www.bea.gov/news/blog/2019-11-27/gdp-increases-third-quarter

From the link above:

The revision to GDP reflected upward revisions to inventory investment, business investment, and consumer spending.

The increase in consumer spending reflected increases in both goods (notably recreational goods and vehicles as well as food and beverages) and in services (led by housing and utilities as well as food services).

Additionally, the Commerce Department released data showing U.S. core capital goods orders increased 1.2% in November, the largest gain since January; and more data on home sales shows a staggering 31.6% increase year-over-year.

From the article linked above:

The U.S. Census Bureau reported the advance estimate for durable goods orders unexpectedly gained in October, easily beating the consensus forecast. New orders for manufactured durable goods rose by $1.5 billion or 0.6 percent to $248.7 billion.

While forecasts ranged from a low of -1.8% to a high of 0.7%, the consensus forecast was -0.7%.

Core capital goods gained 1.2%, easily beating the consensus. Forecasts for the core ranged from a low of -0.5% to a high of 0.3%. The consensus was 0.1%.

The Atlanta Federal Reserve GDPNow forecast went from 0.4% real GDP rate in the 4th Quarter to 1.7%. That was a +1.3% adjustment.

From the article linked above:

The advance for initial jobless claims fell 15,000 to a seasonally adjusted 213,000 for the week ending November 23.

Forecasts for the headline weekly jobless claims ranged from a low of 215,000 to a high of 221,000. The consensus forecast was 218,000.

Lagging data made history.

The advance seasonally adjusted insured unemployment rate fell to 1.1% for the week ending November 16, the lowest ever on record.

The advance number for seasonally adjusted insured unemployment during the week ending November 16 fell by 57,000 to 1,640,000, the lowest level since August 4, 1973 when it was 1,633,000.

Nancy Pelosi is feeling extreme pressure from her Democrat colleagues that are desperate to show their constituents that they actually care about bettering our country rather than destroying it.

She is also feeling tremendous pressure from AMLO (President of Mexico). Earlier this week, he sent a second letter to Nancy Pelosi urging USMCA ratification.

AMLO has been saying that the labor provisions within the USMCA trade pact are already being put in place by his country. He is destroying Pelosi’s BS labor concerns to avoid ratification.

https://news.yahoo.com/nafta-ministers-meet-washington-wednesday-232849953.html

From the article linked above:

The three trade ministers from the United States, Canada and Mexico are set to meet in Washington on Wednesday to discuss the deal to replace NAFTA, seven people familiar with the plans told POLITICO.

The meeting involving U.S. Trade Representative Robert Lighthizer, Deputy Canadian Prime Minister Chrystia Freeland and Mexican Undersecretary for North America Jesús Seade comes as the Trump administration is nearing a compromise with House Democrats to make changes to the USMCA.

Lighthizer has been negotiating with a group of nine House Democrats to address four main concerns involving the pact’s labor, environmental, enforcement and drug pricing provisions.

Any changes to the text would have to be approved by Canada and Mexico before the Trump administration can finalize the agreement and send it to Congress for a vote. Canada is expected to accept changes to the text without issue.

FOX Business’ Maria Bartiromo announced yesterday morning that her sources are saying a USMCA vote is possible next week.

The truth shall set you free!

The New York Federal Reserve made an admission two days ago. They admitted everyone was wrong. Our President’s 2017 tariffs against China did not lead to increased U.S. consumer prices (link below).

https://libertystreeteconomics.newyorkfed.org/2019/11/who-pays-the-tax-on-imports-from-china.html#.XdzIgxIIK7w.twitter

The Fed also said imports of the Chinese products affected by U.S. tariffs have fallen by an annualized $75 billion. That’s an enormous chunk of business U.S. purchasers have shifted to Japan and other Southeast Asian countries.

The great news is that decoupling is well underway!

Pundits were wondering if our President would sign into law the Hong Kong Human Rights and Democracy Act. They thought our President wouldn’t do so because it may stop the Phase 1 trade deal from happening.

Our President signed the Act yesterday into law.

https://publicpool.kinja.com/subject-statement-by-the-president-1840073808

From the link above:

Today, I have signed into law S. 1838, the “Hong Kong Human Rights and Democracy Act of 2019” (the “Act”). The Act reaffirms and amends the United States-Hong Kong Policy Act of 1992, specifies United States policy towards Hong Kong, and directs assessment of the political developments in Hong Kong.

Certain provisions of the Act would interfere with the exercise of the President’s constitutional authority to state the foreign policy of the United States. My Administration will treat each of the provisions of the Act consistently with the President’s constitutional authorities with respect to foreign relations.

~  President Donald J Trump

It requires the U.S. to review all of the democracy issues within Hong Kong to assess whether any Chinese violations to Hong Kong autonomy are happening.  If so, the U.S. can take remedial steps to punish China.

https://www.govtrack.us/congress/bills/116/s1838/summary

From the link above:

The Hong Kong Human Rights and Democracy Act would require the State Department annually re-certify Hong Kong’s autonomous nature, in order for the so-called “special treatment” the U.S. affords Hong Kong to continue.

Our President shows once again from his actions that the last thing he is worried about is a trade deal with China. His ultimate goal is to destroy the Chinese Economy.

Americans are thankful for PDJT!

Candace Owens is the worst nightmare for the Democrats, MSM, Leftists, Never Trumpers etc. She truly is a gift to our President and our country!

What I love most about our President is how he drives the Democrats, MSM Leftists, Never Trumpers etc. crazy with his Twitter account. The tweet from yesterday has them losing their minds.

Normal Americans absolutely loved it! After just 12 hours, the tweet has 485,000 likes.

God bless Jon Voight!

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