ADP employment numbers are worse than expected. Auto sales crash. The housing market is stabilizing and people are taking advantage of the rates not rising and in some cases lowering. The Belt and Road initiative is now sweeping through Europe, the US is still not engaging but is sending reps to evaluate. The [DS][CB] are doing exactly what we thought they were going to do, they are trying to crash the economy so it can be blamed on Trump. Trump says healthcare will not happen until 2020, the new deal is going to be amazing. The [DS] is panicking, they are so afraid that they are now attending group therapy. Mark Meadows and Jim Jordan want access to Michael Cohen’s transcripts. Nellie Ohr lied about her ham radio to congress. D’s introduce a bill to allow illegals to work in government. Maduro allows RC aid into the country. The Chinese woman that was apprehended in Mar-a-Lago might be an employee of a social media giant.
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Current News – 04.03.2019
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- ADP disappointed, adding just 129k jobs in March (well below the expected +175k and only just above the 125k lowest estimate of analysts). This is the weakest growth in employment since Sept 2017…
Under the hood, Small businesses shrank their employee base, as Construction lost 6k jobs…
- “March posted the slowest employment increase in 18 months,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.
- Auto sales in the U.S. wrapped up an ugly first quarter with dismal results for the month of March
- General Motors saw deliveries drop 7% for the quarter, with all four brands falling
- Chevy Silverado was down 16%
- Chevy Suburban dropped 25%
- Fiat Chrysler sales fell 7.3% (estimates were for a decline of 6.4%)
- Jeep sales fell 11%, continuing the February trend of SUV demand drying up
- Toyota sales fell 3.5%
- This beat estimates for the month, but still showed softness
- Toyota also fell 5% for the first quarter, hurt by a decline in demand for its Corolla
- Nissan sales were down 5.3% in March
- Nissan’s first quarter sales were down 11.6%
- Deliveries fell 23% for its Infiniti brand
- Ford sales were down 5% in March, according to industry data
- The company is expected to show a 2% decline for the quarter
- Honda saw a 4.3% percent increase, as passenger car sales rose more than 4%.
- Accord sales were up 5%
- As mortgage-rates have collapsed to their lowest since Jan 2018, mortgage apps have soared (led by refis).
Note that the rate shift tends to lead applications by around 3-4 weeks, suggesting there is more to come on this mini refi-boom.
In fact purchase mortgage applications growth slowed in the last week, rising just 3.4%; as refinancings exploded 38.5% WoW – the biggest weekly jump since Feb 2015
Perhaps the most ominous sign of all of this is the explosion in Adjustable-rate Mortgages – the second biggest surge since January 2001…
- Xi Jinping’s visit to Europe confirms the reality of an ongoing global transformation of a world dominated by the United States to a pluralistic one composed of different powers collectively shaping a multipolar world.
- Europe therefore finds itself in fortuitous position, balanced as it is between its old world links to the United States on the one side and the fledgling Eurasian one being ushered in by Russia and China on the other.
- Countries like Germany and France, but even the United Kingdom, have long implemented commercial policies that encourage integration between the countries of the Eurasian supercontinent. In 2015, the United Kingdom was among the first Western countries to join the Chinese Asian Infrastructure Investment Bank (AIIB), which finances projects of the Belt and Road Initiative (BRI).
- The Chinese BRI mega project kicked off in 2014 with the ambitious goal of integrating trade between China and Europe by sea and by land, in the process incorporating all the countries in between. The idea, as a natural consolidation of trade, is to shorten the delivery times of goods by rail and integrate sea routes. The project covers not only ports and rail lines but also the construction of technological infrastructure to achieve global interconnectivity using the 5G technology developed by the Chinese tech giant Huawei.
- What Washington continues to misunderstand is why certain European countries are so determined to embrace the opportunities offered by the East. Italy’s recent example is quite easy to understand. The Italians hope that the BRI will provide much needed stimulus to their production industry, which has been in the doldrums in recent years. The desire for Chinese capital to give a boost to the export of Italian-produced goods is the driving force behind the proposed agreement between Beijing and Rome.
- In addition to the obvious and natural desire for capital, there is also the idea of ensuring energy supply,
- “With the 16+1 cooperation plan between Central and Eastern European nations and China, several countries signed memoranda of understanding with China to jointly build the BIS. So far, the governments of 16 Central and Eastern European countries have signed memoranda of understanding on BIS cooperation with China. Currently, 171 cooperation agreements have been reached with 123 countries and 29 international organizations under the BIS “.
- The United States will not send high-level officials to attend China’s second “One Belt, One Road” summit in Beijing this month, a U.S. State Department spokesman said on April 2, citing concerns about financing practices for the initiative.
- almost 40 foreign leaders would take part in the summit due to be held in Beijing in late April.
- The first summit for “One Belt, One Road” (OBOR, also known as Belt and Road), which envisions rebuilding the old Silk Road to connect China with Asia, Europe and beyond with massive infrastructure spending, was held in 2017 and attended by Matt Pottinger, the senior White House official for Asia.
- There are no such plans this year.
- “We will continue to raise concerns about opaque financing practices, poor governance, and disregard for internationally accepted norms and standards, which undermine many of the standards and principles that we rely upon to promote sustainable, inclusive development, and to maintain stability and a rules-based order.
- “We have repeatedly called on China to address these concerns,” Palladino added.
- Washington was considering sending a lower-level staffer from the U.S. embassy to observe and take notes on the conference but not to participate, though a final decision has not yet been made.
- The International Monetary Fund calls this a “delicate moment” for the global economy as many countries are in the midst of a slowdown. Resolving President Trump’s trade war and Brexit could go a long way toward preventing a deeper slowdown, the IMF said.
- Lagarde said growth has been slowing largely because of trade tensions and financial tightening last year. But she went on to say that the U.S. Federal Reserve has reversed course in a way that will “benefit” the world economy. The Fed no longer plans any interest rate increases this year, and it is ending its asset reduction, which Trump and Wall Street wanted. That leaves Trump’s tariffs and Brexit as the major factors weighing on the world economy, the IMF said.
The plan to have the FED raise rates [steep incline beginning Mar 2019] in an effort to ‘kill’ the economy prior to 2020 P_elec is known and planned for.
Structure change coming?
- President Donald Trump warned Republicans Tuesday that they would continue to lose elections if they run away from health care.
- The president spoke to Republicans at the annual National Republican Congressional fundraiser dinner, immediately noting that Republicans were not in the majority anymore, a theme that he returned to throughout his speech.
- “We have to win, we have to take back the House,” Trump said. “What really lost it and really helped us lose it was health care because we didn’t have an alternative.”
- He elaborately imitated a confused Republican congressman who did not have an answer to the high cost of health care.
- “You got to confront it!” he said. “Republicans should not run away from health care, you can’t do it, you’re going to be clobbered.”
- He admitted that Senate Majority Leader Mitch McConnell did not appreciate his latest push on health care, but warmed to the idea once he realized that the vote would take place after the 2020 elections. Trump said it was essential for Republicans to campaign on health care.
- “It’s been a tough subject,” he acknowledged. “If we stay away from that subject, we’re going to lose, because it’s too important.”
- He noted that Republicans beat Democrats on issues like border security, a strong military, taxes, and other issues, but that Democrats could win elections on health care alone.
- “They have health care right now, we have to take that away from them,” Trump said.
- Kamala Harris has gone off the deep end again.
- While delivering comments to the Human Rights Campaign fundraiser in Los Angeles, Harris appeared to come out of the closet regarding her psychological problems since President Donald Trump was elected. This is what fear and panic look and sound like, take a listen
- Trump derangement syndrome in action.(Starting at the 11:45 mark:)
- On Wednesday, The Coolidge Reagan Foundation —a First Amendment watchdog— filed another complaint against Rep. Alexandria Ocasio-Cortez (D-NY), this time targeting Ocasio-Cortez and her campaign manager,
- Spanning nearly 50 pages and levying more than 20 counts against Ocasio-Cortez, Chakrabarti, and the entities they created to carry out an unlawful, “dark money” scheme, the complaint provides the most in-depth analysis of Ocasio-Cortez’s various campaign finance violations to date.
- According to a complaint filed with the Federal Election Committee (FEC) in March, two PACs founded by Alexandria Ocasio-Cortez’s top aide, Saikat Chakrabarti funneled over $1 million in political donations into two of his own private companies, reported the Washington Examiner.
- Today The Coolidge Reagan Foundation filed more charges.
In the complaint’s words
“[Ocasio-Cortez and Chakrabarti] engaged in a brazen scheme involving multiple political and commercial entities under their control to violate federal election law, circumvent federal contribution limits and reporting requirements, and execute an unlawful subsidy scheme. This scheme allowed Ocasio-Cortez to gain an unfair advantage by receiving illegally excessive contributions and illegally subsidized campaign services.”
- You can read the complaint here.
- The House Judiciary Committee chaired by Rep. Jerry Nadler (D-NY) voted Wednesday to authorize a subpoena to compel the Department of Justice (DOJ) to hand the Mueller report over to Congress.
- Passing by a margin of 24-17, the resolution authorizes subpoenas for special counsel Robert Mueller’s full report, as well as its underlying evidence.
- Attorney General William Barr did not comply with an April 2 deadline set by Nadler, who has criticized the four-page summary of conclusions on what is believed to be a nearly 400-page report.
- Barr and Mueller are currently working to redact sensitive information ahead of the report’s full public release, which Barr should be ready by mid-April or sooner, according to comments made by Barr to lawmakers last week.
- Republican North Carolina Rep. Mark Meadows is accusing Democrats of playing politics in their attempt to subpoena special counsel Robert Mueller’s final report on the investigation into Russian interference in the 2016 presidential election.
- The report found no evidence of collusion between the campaign of President Donald Trump and Russia, according to a summary released by Attorney General Bill Barr.
- Meadows said, “This was not a transparency subpoena. This was a 2020 subpoena,” Meadows said. “It’s all political theatre. It has nothing to do with getting to the truth.”
- Meadows said that he and other Republicans see the subpoena as an effort to weaken Trump ahead of his re-election bid next year. “Let’s take this for what it is,” he said. “This is all about trying to disparage the President of the United States.”
- Republican Reps. Jim Jordan and Mark Meadows pressed the House Intelligence Committee on Tuesday to provide them access to transcripts from Michael Cohen’s closed-door appearances before the panel in February and March.
- “Every Member of the House of Representatives — whether Republican or Democrat — should not tolerate witnesses who lie before Congress,” Jordan, R-Ohio, and Meadows, R-N.C., wrote in a letter to House Intelligence Committee Chairman Adam Schiff, D-Calif., and ranking member of the committee Devin Nunes, R-Calif. “This is a matter that goes directly to the integrity and credibility of the institution.”
- According to Jordan and Meadows, both members of the House Oversight and Reform Committee, Cohen made “demonstrably false statements” when he appeared in February before their panel. In February they submitted a criminal referral to the Justice Department urging the agency to investigate statements made by Trump’s former attorney, including his denial that he was interested in working for the White House.
- House Oversight Committee Chairman Elijah Cummings, D-Md., has disagreed with the pair’s characterization of Cohen’s testimony, casting doubt on whether Cohen actually wanted to work in the White House — citing salary limitations. In their letter, Jordan and Meadows said Cummings “promised” accountability if Cohen lied and “is now delaying action on referring Cohen on the purported basis that he first needs to review” Cohen’s testimony to the intelligence panel.
- The Republican pair are requesting the House Intelligence Committee vote to grant them access to the transcripts to mitigate Cummings’s concerns on the matter.
- It always seemed sketchy that at the same time Nellie Ohr began communicating with Christopher Steele and other governmental participants associated with the Steele Dossier, May 2016, she applied for a Ham Radio License [FCC LINK]:
- During congressional testimony, Nellie Ohr was asked when and why she obtained the Ham radio operators license. Ms. Ohr testified she obtained the license in 2015, “well before” she began working for Fusion GPS. Obviously this statement conflicts with the public FCC record showing she obtained the license in May 2016.
- (Transcript Link)
- Just to make sure the public FCC link date was accurate, Techno Fog filed a FOIA request to verify the application and approval date. The result was confirmation of May 23, 2016:
- The application date matches the FCC public information record of May 23rd, 2016. So it’s now confirmed that Nellie Ohr lied to congress.
- If, as Mrs Ohr claimed, this was just taking up a hobby, an innocuous and unrelated event in the life of a former CIA contract employee, then why lie about it?
- Judiciary Committee Chairman Sen. Lindsey Graham, R-S.C., vowed to bring former FBI Director James Comey back to Capitol Hill to testify about the origins of the Russia investigation.
- “Millions of Americans believe that the top level of the Department of Justice and the FBI, they wanted Clinton to win and Trump to lose,” Graham said “They manipulated the law to let her off, manipulated the facts and the law to go after Trump and that’s a big deal to a lot of people.
- “It’s not my job to find out if crimes were committed,” he said. “It’s my job [to provide] oversight of the executive branch. Did they bend the rules, did the break the rules to get an outcome? Did they mislead the FISA court, do we need to change the rules about FISA courts?”
- “Are there any rules at all about counter-intelligence operations? Why did you not tell Trump? You told Feinstein she had somebody on her staff working with China, why didn’t you go to Trump to tell him about suspicions about Russia? Was it a backdoor attempt to get into his campaign?
- Graham repeated his call for a special prosecutor to investigate the investigators.
- Senate Democrats are introducing legislation that would make so-called “Dreamers” eligible to work on Capitol Hill.
- The bill — spearheaded by Sens. Kamala Harris (D-Calif.), Catherine Cortez Masto (D-N.M.) and Dick Durbin (D-Ill.) — would expand the eligibility for a job as a congressional staffer or intern to include Deferred Action for Childhood Arrivals (DACA) recipients, who were brought into the country illegally as children.
- “Many of them are dedicated to public service, and it makes no sense to deprive Congress of this homegrown talent pool,” he added.
- The bill, according to a statement from Harris’s office, would apply to employment in both the House and Senate. Rep. Ann Kirkpatrick (D-Ariz.), has introduced the legislation in the House.
- The White House is exploring all executive authorities in existing law that will allow an aggressive crackdown on illegal immigration and legal immigration fraud, senior adviser to the president Stephen Miller said
- “There’s going to be an aggressive effort to utilize every existing authority in statute,” Miller announced, explaining that several authorities exist in immigration laws passed by Congress throughout history, including the 1996 Illegal Immigration Reform and Immigrant Responsibility Act.
- Miller noted that the White House is “systematically reviewing all authorities that are already on the books, both in terms of cracking down on illegal immigration and […] the abuse of our legal immigration system.” The targeted abuse actions include illegal immigrants who overstay temporary visas, “combatting or addressing legal benefit seeking in the legal immigration system.”
- there are approximately 1 million illegal aliens in the United States with final removal orders that still remain at large — Miller gave one example of the type of executive action the administration can take. The presidential adviser noted that existing law has a statute that allows for a “significant financial penalty” for every single day that an alien resides in the country after being ordered removed.
- “This law has been on the books for a very long time and has not been utilized.
- The government of New Zealand has put forward legislation that would ban the majority of semi-automatic firearms.
- Prime Minister Jacinda Ardern vowing to double down on gun control in the wake of the Christchurch mosque massacres.
- Now it appears that she is following through with her word.
- This proposed ban includes the types of weapons used in the massacres— two semi-automatic weapons and a shotgun.
- New Zealand immediately enacted several gun control measures on March 21. Police Minister Stuart Nash claims that the bill now being considered, which is a more extensive ban, would be enacted on April 12 should it pass. New Zealand legislation bans all military-style semi-automatic weapons and assault rifles.”
- The Red Cross says the Maduro regime is allowing it to distribute aid in Venezuela. Maduro government has reached an agreement with the International Federation of the Red Cross (IFRC) to scale up the humanitarian activities inside Venezuela.
Russia has sent military personell to Venezuela I wonder if Maduro feels more secure with Russia
Yesterday we talked about the Chinese Woman who was apprehended in Mar-a-Lago, she had a laptop, thumbdrive with malware and today we are hearing that she might have worked for google.
Two linkedin links point to Google, the question is, is this the same person