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Monday, February 13, 2017

Trump-Trudeau meet; CNN misses the point

The top three stock indices reached record highs today as investors reacted to Trump meeting with Canada's Justin Trudeau. They made it clear that nothing changes between Canada and the United States if we dump NAFTA.

This reassurance is another reason why stocks are up 9 percent (on average) since we elected Trump three months ago.

Canada is not the problem. Mexico is. Canada does not dump its welfare cases here. Canada does not nationalize our companies there. Canada isn't a narco state. Canada shares our values as the roots of both nations spread from England and not Spain.

The trade deficit favors Canada right now, but trade with Canada also helps support 7 million jobs in the US. To be sure, Canada needs us more than we need her, but she is a good trading partner.

So how did CNN report the Trump-Trudeau meeting?


From CNN:
Trump defends travel ban as Trudeau looks on
President Donald Trump offered an unapologetic defense of his travel ban during a joint news conference Monday with Canadian Prime Minister Justin Trudeau, saying the US "cannot let the wrong people in."
Trudeau, meanwhile, made clear that he holds a different view of the issue but said it was not his place to come to the US and "lecture" Trump on the controversial policy.
Trade? What's that? That was bumped to Paragraph 13. Also, CNN failed to mention that Canada's immigration laws are tougher than the USA's.

The New York Times got the point:
Justin Trudeau and Donald Trump Discuss U.S.-Canada Trade
Prime Minister Justin Trudeau of Canada met for the first time Monday with President Trump, attempting to bridge gaps in style and strategy between the two leaders.
Few issues are as high on a Canadian leader’s agenda as the country’s ties with the United States, a warm relationship that was reflected in Mr. Trudeau’s unusually close relationship with former President Barack Obama. Many of Mr. Trump’s policies, particularly his protectionist stance on trade, are chilling for Canada, which counts on trade with the United States for about 25 percent of its gross domestic product.
A statement issued after the two leaders met suggested that Mr. Trudeau had largely succeeded in achieving his goals.
But the well-being of the nation is secondary to CNN because it pushes an anti-Trump agenda.

Back when it was the only cable news network, CNN could get away with burying the news rather to push a leftist agenda.

No more.

From CNBC:
President Donald Trump has repeatedly slammed the North American Free Trade Agreement, but he signaled Monday that one of the United States partners in the deal could face more drastic changes than the other.
After Trump met with Canadian Prime Minister Justin Trudeau at the White House, the leaders touted the neighbors' trade relationship, with Trudeau signaling they wanted to continue "effective integration of our two economies." Trump has repeatedly slammed NAFTA as a drag on American jobs, but said he thinks the U.S. gets a worse deal from its southern neighbor, Mexico, than from Canada.
"We have a very outstanding trade relationship with Canada. We'll be tweaking it. We'll be doing certain things that are going to benefit both of our countries. It's a much less severe situation than what's taken place on the southern border," Trump said at a joint White House press conference with Trudeau.
That reassured the market, which climbed.

Trump's hint of unrolling a new tax policy shortly also encouraged investors.

The real story is Trump plans to grow the economy without globalism. Trade is nice, but it must be fair. Investors notice.

From Reuters:
U.S. equity indexes hit record highs on Monday, with the benchmark S&P 500's market value topping $20 trillion as investors bet tax cuts promised by President Donald Trump would boost the economy.
Trump vowed last Thursday to make a major tax announcement over the next few weeks, adding fuel to a rally that had stalled amid worries about the potential impact of his protectionist trade stance and a lack of clarity about other policy reforms.
The S&P 500 has surged about 9 percent since Trump's Nov. 8 election, boosted by expectations he would lower corporate taxes, ease regulations governing banks and increase infrastructure spending.
Trump has also held high-profile meetings with senior executives from automakers and Silicon Valley technology companies.
"Day after day, corporate executives from a variety of industries are being brought to the White House to consult with the president. Business does seem to be back in the driver's seat, and I think that's why people are willing to pay up a little bit more for stocks," said Jamie Cox, managing partner of Harris Financial Group in Richmond, Virginia.
Far from destroying the world economy through America First policies, President Trump is reviving the global economy by working with god allies to make free trade fair.

This is the real story.

Too bad CNN missed it.

@@@

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14 comments:

  1. CNN didn't miss it; they ignored it. Doesn't fit Their Narrative, doncha know.

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  2. I love the smell of MONEY in the morning. Thank you, Mr. Trump

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  3. If CNN wasn't in airports I doubt anyone anywhere would see it at all.

    ReplyDelete
    Replies
    1. My observation is that CNN is playing in the airport, but few are watching.

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    2. Yeah, all you see these days are people with their heads buried in their smartphones or devices.

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  4. By the way, while I like the idea of an expanding portfolio, whenever my wife asks if it means that we have more money I reply that it's fake money and that it could disappear any moment.
    On the other hand, if you recall the parable of the talents it is practically a commandment not to keep money somewhere that it is not productive. When I was a kid I used to wonder what the guy did wrong who buried it. After all he only got one. Found out later that it was over a years wages for the average man.

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    Replies
    1. The CNN talent, now there's a bunch that really ought to be buried.

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    2. But they have no talent.

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    3. Nice set-up, by the way.
      Badaboom.

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    4. Actually, from a strictly Jewish perspective, the servant that hid his talent was the good guy and was punished for NOT collecting interest on it. Loan interest isn't allowed under Jewish principles. The parable shows that evil people who use others and take from them get rewarded while those who try to do what is right will be punished. - Elric

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  5. Trudeau looked completely under President Trump's control.

    I got the willie's thinking about this sentence - 'Trudeau’s unusually close relationship with former President Barack Obama" - was he rasslin' with Obama and Branson last week?

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  6. The best many outlets could talk about was Baby Trudeau's limp-wristed reaction to Trump's handshake.

    Go figure.

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  7. Canada just makes me nervous. Looking at that stupid kid that they elected as *Prime Minister* confirms my suspicions and makes me more nervous. Pretty much the entire nation all smooshed up right next to our border? Maybe we need a fence or wall up there, too.

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  8. "Far from destroying the world economy through America First policies, President Trump is reviving the global economy by working with god allies to make free trade fair."

    Heh- I'm SO glad that finally we have a President who has "god" allies. (But I'd have capitalized that word, myself!)

    It's such a relief to have a President who isn't trying to be God himself (I won't forget the 'Black Messiah') and who isn't allied with the Devil (not sure if I'm joking- the person last in the office did a lot of things that only Satan would love.)

    So- not a typo, serendipity!

    ReplyDelete