Consumer Confidence Hit Lowest Level Since September 2017
After two consecutive months of improvement, in June Consumer Confidence hit lowest level since September 2017.” Said Lynn Franco, Senior Director of Economic Indicators at the Conference Board
The Conference Board Consumer Confidence Index declined in June, following a May increase. The Present Situation Index, based on consumers’ assessment of current business and labor market conditions also decreased.
New Home Sales Dropped in May
New home sales dropped 7.8% to a 626,000-unit pace during May. Despite the monthly decline, lower mortgage rates and builder discounts have led to an overall improving trend and sales are up 4.0% on a year-to-date basis. Wells Fargo
Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to -0.05 in May from -0.48 in April. Three of the four broad categories of indicators that make up the index increased from April but only one of the four categories made a positive contribution to the index in May. The index’s three-month moving average, CFNAI-MA3, moved up to -0.17 in May from -0.37 in April.
US Drill Rigs Running Down by Two Last Week
There were 967 drill rigs running in the US, down by two from the last update. Meanwhile, Canadian drilling increased by 12 to 119 rigs.
US Raw Steel Production was 1,873,000 Tons Last Week
In the week ending June 22, 2019 US raw steel production was 1,873,000 tons at a capacity utilization rate of 80.5 percent. Thus far this year US mills have produced prox 46,870,000 tons compared to the prox 44,288,000 tons produced in the like period last year.
Manufacturing Activity Little Changed in June
The Federal Reserve Bank of Richmond released its Fifth District Survey of Manufacturing Activity for June 2019 and reports manufacturing activity was little changed in June. The composite index dropped slightly from 5 in May to 3 in June, resulting from a drop in the employment index, while the two other components, shipments and new orders rose slightly.
The US Census Bureau May 2019 Advance Report on Manufacturers’ Shipments, Inventories and Orders
- New orders for manufactured durable goods in May decreased 1.3%. the decrease, down three of the last four months, followed a 2.8% April decrease.
- Shipments of manufactured durable goods in May, up following two consecutive monthly decreases, increased 0.4%
- Inventories of manufactured durable goods in May, up ten of the last eleven months, increased 0.5 percent following a 0,4 percent April increase.
The 1.3% drop in durable goods orders is mostly aircraft weakness and Boeing’s struggles. The details were better with upticks in core capital goods orders and shipments, but the factory sector remains under pressure. Wells Fargo
Q1 GDP is 3.1% Annual Growth Rate
The “third” and final estimate of first quarter 2019 GDP is 3.1 percent annual growth rate, according to the Bureau of Economic Analysis (BEA)
Texas Factory Activity Accelerated Output in May
The Federal Reserve Bank of Dallas released its June 2019 Texas Manufacturing Survey with results showing Texas factory activity continuing to expand in the month. The production index, a key measure of state manufacturing conditions, rose from 6.3 to 8.9, indicating output growth accelerated from May.
The Midwest Economy Index Reached Its Lowest Level Since February 2010
The Midwest Economy Index (MEI) fell to -0.28 in April, reaching its lowest level since February 2010. Contributions to the May MEI from two of the four broad sectors of nonfarm business activity and all five Seventh Federal District states decreased from April.
We are getting dueling banjo’s in economic data this week…
The MNI Chicago Business Barometer Increased by 1.6 Points in May
Despite the pick-up in sentiment, the survey does point to a softening in business, as indicated by the three-month moving average slipping to a two-year low. The rise in business confidence was led by Production and New Orders. New Orders increased for the first time in three months. Production picked up to match its three-month average.
The Democratic Debates … in Two Installments
On Wednesday evening, 10 Democratic hopefuls took the stage to debate each other’s platform proposals for the presidency of the United States. Everyone is entitled to everything, free of charge (not really “free” though, is it.) according to each of them. I went to bed after thirty minutes…after laughing, then vomiting. I get to do it again tonight.
Exactly what is income inequality? Does the CEO of GM get the same pay as the guy or gal working at McDonald’s? Is this what they want? Someone accomplishes more, and is therefore compensated more and that is not fair? Where is the fairness in that idea? Riddle me this Batman; will our Senators and Congressmen and women or accept that for themselves? Nope. Just like the healthcare bullshit they have forced on us-not them. It is total bullshit with these people.
I do not understand why the Supreme Court would rule against a census question asking what one’s citizenship is. It is only common sense to know who is or is not a citizen of our country.
Screw Iran and the camel they rode in on. We will not start it, but we WILL finish it…decisively
All this ranting against large corporations on the debates last night…where do they think people will work if there were no large corporations? Think about the small businesses that are created by doing business with large corporations. We all know this; wealth radiates from those synergies. This is all bullshit from the left, attempts to vilify capitalism. Socialism, in reality, is government control of everything we do. As a people, we must reject these radical ideas. Capitalism built this country; it guarantees choice and freedom. This is OUR country and OURS it will stay.
Last night EACH candidate approved of FREE HEALTHCARE for all of those here ILLEGALLY. Where does this shit come from? BUILD THE WALL, MAKE IT TALL AND DEEP INTO THE EARTH. NO TUNNELS AND UNABLE TO BE SCALED.
…”one had to concern oneself with the rational, not the insane-that one had to seek that which was right, because the right answer always won-that the senseless, the wrong, the monstrously unjust could not work, could not succeed, could do nothing but defeat itself.” Ayn Rand
More idiocy:
Our Congress, on Tuesday, voted to spend $4.5 BILLION on the welfare of children brought ILLEGALLY into our country who are being detained at our southern border. Due to the tremendous number of illegal crossings, border security has been overwhelmed, we do not have the infrastructure or the people, to properly care for them. We should not have to. Nancy Pelosi says the President is “scaring the children…” Doesn’t matter to her or any Democrat, that they have been forced to walk hundreds of miles in order to get here, many are not even related to the people who claim to be their parent(s). This is totally absurd. We have American veterans who are not receiving the care they need and deserve. We have American citizens living on the streets. Where is the money to care for our own people? The $4.5 billion would build the security wall the president wants. People cannot walk through a wall. I am so tired of this bullshit.
More idiocy:
The commie socialist son-of-a-bitch, Bernie Sanders, has proposed the waiver of $1.5 trillion in student loan debt. Of course, this is obviously pandering for votes. Who pays for that Bernie? Not you. We do, you and I and our children and their children. How about putting some constraints on our higher education institutions? These liberal enclaves have 100’s of millions of dollars in endowment funds. They preach socialism to our children; indoctrination is what it is, and it needs to be stopped.
I have said before and I still maintain that our overpaid legislators are steering us-by lack of action-toward a recession and they want it early to mid-next year. These are truly a bunch of treasonous, useless fucks. Pardon my English, they are so very aggravating and self-serving. In their quest for power they are basically telling you to go screw yourself and screw the country, which they obviously do not give a shit about.
WE ARE NEARING OUR INDEPENDENCE DAY CELEBRATION. THOSE WHO FORMED OUR COUNTRY FOUGHT TO GET OUT FROM THE OPPRESSION OF A TYRANNICAL GOVERNMENT. THE MORONS RUNNING FOR OFFICE AND THOSE WHO FOLLOW THEIR TWISTED IDEOLOGY (because they do not comprehend the consequences), WANT A RETURN TO THAT SAME TYPE OF TYRANNY, TO KEEP YOU NEEDING THEM, UNDER THEIR THUMB, SO TO SPEAK. WE, YOU AND I, ARE NOW THE SAME AMERICAN MILITIA OF 243 YEARS AGO. THIS IS WHY WE MUST PROTECT THE 2ND AMENDMENT. IF WE MUST TAKE UP ARMS TO PROTECT OUR COUNTRY, OUR FREEDOMS, THEN SO BE IT. I AM READY TO FIGHT. GOD HAS BLESSED AMERICA, WE MUST PROTECT AND DEFEND HER FOR OURSELVES, OUR CHILDREN, OUR GRANDCHILDREN AND THOSE TO FOLLOW, AS OUR VETERANS AND FALLEN HEROES HAVE ALL DONE THROUGHOUT OUR HISTORY. WE MUST NOT LET THEIR SACRIFICE BE IN VAIN.
As an American citizen, how do you want our country to move forward for you and your family:
SECURE BORDERS? OPEN BORDERS?
MORE GOVERNMENT? LESS GOVERNMENT?
A STRONG MILITARY? A WEAK MILITARY?
LESS TAXATION? MORE TAXATION?
LESS GOVERNMENT REGULATION? MORE GOVERNMENT REGULATION?
FAIR TRADE AGREEMENTS? QUID PRO QUO TRADE AGREEMENTS?
PROPER CARE FOR OUR VETERANS? DON’T CARE FOR OUR VETERANS?
MERIT BASED IMMIGRATION? THE SHIT WE HAVE NOW?
RESPONSIBLE HELP FOR THE POOR? THROW MONEY AT THE PROBLEM?
TEACH AMERICAN HISTORY TO OUR CHILDREN? ERASE AMERICAN HISTORY?
RESPECT OUR FLAG? DON’T GIVE A SHIT?
SAY THE PLEDGE OF ALLEGIANCE IN SCHOOL? WHAT IS THAT?
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform XX Entitlement Reform
Business Tax Reform XX Education Reform X
Healthcare Reform Veterans Administration Reform X
Rebuild our Military X Trade Reform X
Secure our Borders (The Wall) XX Lead the world from the front XX
Help for the poor XX Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS XX Extreme Vetting XX
Conservative Supreme Court nominees XX American Jobs XX
I will track these campaign promises and will check them off as each is accomplished adding those I have missed as they become apparent. This is quite an agenda and will be difficult to achieve all in one term, but I believe the American people are behind him and know these things need to be done. Now, if he can get our legislators to support him instead of fighting him….
“MAKE AMERICA GREAT AGAIN”
and
“KEEP AMERICAN GREAT”
Have a great weekend…. God bless America!
Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.
If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.
By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.
TEDDY ROOSEVELT ON IMMIGRANTS IN AMERICA…1907
In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person’s becoming in every facet an American and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag…We have room for but one language here and that is the English language…and we have room for but one sole loyalty and that is a loyalty to the American people.”</blockquote
