Folks we are already at a 2.6% GDP after the second quarter. Keep in mind that was our President’s first quarter under his full leadership. Barry was around for 20 days in the first quarter. No surprise that GDP was a miserable 1.2% in the first quarter.
Last night I wrote about what our President has done through Secretary Zeinke, Perry and Pruitt to set our country up to be Energy Independent and soon to be Energy Dominant!
This also sets up the bilateral deals our Wilburine and Lighthizer are about to renegotiate. We have Energy to sell in the form of Coal (up 61%) and LNG. South Korea has recently agreed to purchase $15 billion dollars of LNG. Poland received their first shipment of LNG in June. Croatia is building a floating LNG pipeline on their island of Turik to be able to provide American LNG throughout the other Three Seas Countries. Ukraine is about to go all in on our coal.
Our Energy push has led us to a point that it will become sound economics to manufacture in the US again. We are on the cusp of that happening! When we turn that corner, MAGA will become so much easier. 3% to 4% GDP becomes possible even without Healthcare or Tax Reform ever occurring. Foxconn just invested $10 billion dollars in Wisconsin with the hope of purchasing three additional factories across the US.
Walmart is ready to pull the trigger on US Manufacturing! They would need 1.5 million workers.
From the article linked above:
Walmart Stores Inc (NYSE:WMT) on Wednesday unveiled a “policy roadmap” to create 1.5 million new jobs and “renew” the U.S. manufacturing sector. The 10-point plan (viewable below) aims to “recapture” an estimated $300 billion in imported consumer goods and spur growth in domestic manufacturing.
“As we’ve worked over the last four years alongside our suppliers toward our goal to source an additional $250 billion in products that support American jobs, we’ve learned a great deal about the challenges our suppliers face in domestic manufacturing,” said Cindi Marsiglio, Vice President for U.S. Sourcing and Manufacturing. “The good news is we’ve also learned how to overcome the challenges and, because of our experience, Walmart is uniquely positioned to help facilitate broad engagement in accelerating the expansion of U.S. manufacturing.”
The Institute for Supply Management (ISM) reported last month its closely-watched manufacturing index (PMI) came in at 57.9 in June, beating the 55.1 consensus forecast. It was the strongest reading in almost 3 years, since August 2014.
Under the Trump Administration, Walmart believes there is an opportunity to cut into the $650 billion of consumer goods that are currently imported, including furniture, cookware, and sporting goods.
“Every $100 billion of retailer spend that is on-shored has the potential to create over 500,000 direct manufacturing jobs, which could potentially result in an additional 1.5 million indirect jobs,” the “Policy Roadmap to Renew U.S. Manufacturing” states. “With the right policies and industry tactics, the U.S. can strengthen our manufacturing industry and drastically reduce long-term unemployment by both driving job creation and upskilling a workforce capable of excelling in newly created manufacturing positions.”