Consumer Sentiment Remains Elevated
At 98.4, consumer sentiment remains elevated. Confidence has been resilient in the face of trade uncertainty and could be a concern going forward. Personal finances were a bright spot in this month’s report.
Texas Manufacturing Outlook Survey Reports Factory Activity Continued to Expand in July
The Federal Reserve Bank of Dallas released its Texas Manufacturing Outlook Survey and reports Texas factory activity continued to expand in July. The production index, a key measure of state manufacturing conditions moved up, indicating growth continued at roughly the same pace as in June.
Other measures of manufacturing activity suggested a slightly faster expansion in July. The new orders index edged up; the growth rate of new orders index rebounded. The capacity utilization index also inched up. Perceptions of broader business conditions were less negative in July.
Conference Board Consumer Confidence Index Rebounded in July
The Conference Board Consumer Confidence Index rebounded in July following a decrease in June, driven by an escalation in trade and tariff tensions,” to its highest level this year,” said Lynn Franco, Senior Director of Economic Indicators at the Conference Board.
Consumers are once again optimistic about current and prospective business and labor market conditions. In addition, their expectations regarding their financial outlook also improved.”
US Drill Rigs Running Down 8
There were 946 drill rigs running in the US last week, down 8 from the previous count. Canadian drilling increased by 9 rigs to 127.
US Raw Steel Production at ACUR 80.9%
In the week ending July 27 US raw steel production was 1,884,000 tons at an ACUR of 80.9 percent. Thus far this year mills have produced prox 56,081,000 tons at an ACUR of 81.1 percent, compared to the prox 53,431,000 tons produced in the like period last year.
Midwest Economy Index (MEI) Decreased in June
The Midwest Economy Index (MEI) decreased to -0.31 in June from -0.22 in May.
Contributions to the June MEI from three of the four broad sectors of non-farm business activity.
On Wednesday the Federal Reserve Bank lowered short term interest rates by 0.25%
July 2019 Manufacturing ISM Report on Business
The Institute for Supply Management (ISM) released its July 2019 Manufacturing ISM Report on Business: Economic activity in the manufacturing sector expanded in July and the overall economy grew for the 123rd consecutive month say the nation’s supply executives in this latest report.
The report was issued on Thursday by Timothy R. Fiore, CPSM, CPM, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee:
The July PMI registered 51.2 percent, a decrease of .05 percentage point from the June reading. The New Orders Index increased 0.8 percentage point, the Production Index decreased 3.3 percentage points.”
Comments from the panel reflect continued expanding business strength, but at soft levels. July was the fourth straight month of slowing PMI expansion. Demand expansion resumed, with the New Orders Index recording marginal growth.”
Construction Spending Fell in June
Construction spending fell 1.3% in June, following a 0.5% drop the prior month. Large declines in public works projects were behind most of the overall drop. Wells Fargo
Additional Tariff on Chinese Products
President Trump said the US would impose a 10% tariff on an additional $300 billion in Chinese products beginning September 1, after trade talks this week failed to yield any significant results.
In my view, the trade war with China is one the United States MUST win. We have been getting openly screwed by China for decades and no member of EITHER party has had the balls to stop it. FINALLY comes Donald J. Trump, to take a stand for America and the American people. Yes, many of us in business and as consumers will suffer a bit in the short term, but once this is finally settled-and it will be, conditions will improve markedly.
Unemployment Held Steady at 3.7%
Employers added jobs at a steady pace in July and unemployment held steady at 3.7%, a historically low level, signs of an assured labor market despite a broader cooling of economic momentum. Non-farm payrolls rose by 164,000, the Labor Department said.
…”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
Criticisms of Baltimore
What is beyond comprehension to me is the way the liberals charge, as racist, most everything our president says, when in reality, there is no evidence of racism in anything he says or does. This past weekend for instance, President Trump brought to light the despicable, deplorable conditions which exist in the city of Baltimore. Much the same as he has called out San Francisco, Los Angeles, Detroit and other bastions of democrat control. These cities and others are rotting away while the politicians and their cronies become very wealthy.
The city of Baltimore has been represented in Congress by Elijah Cummings for decades. Much of the inner city is in fact, in a deplorable condition. The pictures are there to see, reports have been written about these terrible conditions. Bernie Sanders himself said Baltimore was like a third world country in 2015. No rage after his statement.
Mr. Cummings has become a millionaire during his tenure while the good people of Baltimore live in conditions which should be, and are, unacceptable to any American citizen. Mr. Cummings should be ashamed of himself for allowing this to happen under his watch, especially since the federal government has given billions of dollars to aid the residents of the city. Where did the money go, Mr. Cummings? Who else has the balls to call him out but President Trump?
This IS the greatest and most benevolent country on the planet, those legislators who are complicit in allowing American citizens to live like this, in any American city, should be removed from office and their accumulated wealth taken from them and given to those for whom it was intended. This is disgusting, sickening, that any American should have to exist in a rat and crime infested city, in this country, in the 21st century. This is the result of liberal, Democratic policies, there is no question about it. Wake up people! Raise your voice, do not be silent.
By the way, there is a videotape, now 20 years old, of the honorable Elijah Cummings calling Baltimore “a drug infested” city. Such hypocrisy.
Hamza bin Laden, is Dead
It currently appears as though the son of Osama bin Laden, who had vowed revenge on the US for killing his murderous father, has also been killed. I piss on the fire that flamed his rat ass.
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”
“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