Industrial Production Contraction for Fifth Straight Month Points to Dimmer US Growth

A slew of recent soft economic data has fueled fresh expectations of dimmer US growth, underscoring the already-anemic economy’s unusual vulnerability to even fleeting shocks…. The Fed on Friday reported US industrial production contracted in April for the fifth straight month, down a seasonally adjusted 0.3% from the month before…Wall Street analysts are now marking down estimates for second quarter growth and many expect the first to get revised down into negative territory…Few economists believe the US is actually near recession despite the dismal performance.”

Wall Street Journal 5/16/15

U.S. Raw Steel Production

US raw steel output rose 2.4 percent last week as mills operated at an ACUR of 72.1 percent. In the same period last year mills operated at an ACUR of 77.3 percent. On the year mills have operated at an ACUR of 72.3 percent, down from the same period last year when the mills were running 77.0 percent.

Economic News

US home building surged in April to the highest level since before the recession began, a sign of a thaw in the housing market during the crucial spring selling season.”

~ WSJ 5/20/15

The Chicago Fed National Activity Index (CFNAI) released 5/21/15

Led by gains in employment related indicators the CFNAI moved up to -0.15 in April from -0.36 in March. The index’s 3 month moving average (CFNAI-MA3) increased slightly to -0.23 in April from -0.27 in March. April’s CFNAI-MA3 suggests that growth in national economic activity was somewhat below its historical trend.”

Though still in negative territory, this is an improved report from the prior month and has, for the moment, avoided the onset of contraction.

Manufacturing Business Outlook Survey, May 2015

On 5/21/15 the Philadelphia Fed released its May 2015 Manufacturing Business Outlook Survey:

Manufacturing activity in the region increased modestly in May, according to firms responding to the survey. Indicators for general activity, new orders and shipments were positive, but remain at low readings.”

Conference Board Leading Economic Index (LEI), April 2015

Also on 5/21/15 the Conference Board Leading Economic Index (LEI) for April was released:

The LEI increased 0.7 percent in April to 122.3 (2010=100), following a 0.4 percent increase in March and a 0.2 percent decline in February. April’s sharp increase in the LEI seems to have helped stabilize its slowing trend, suggesting the paltry economic growth in the first quarter may be temporary, however, the growth of the LEI does not support a significant strengthening in the economic outlook at this time. The improvement in building permits helped to drive the index up this month, but gains in other components, in particular the financial indicators, have been somewhat more muted.”

~ Ataman Ozyildirim, Economist at the Conference Board

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The Clintons

Hillary and Bill Clinton earned more than $25 million in speaking fees in the last year and a half. This is capitalism and I do not begrudge anyone for earning money…..just sayin’

After 28 days of silence, Hillary finally answered some questions yesterday (5/19). She also stated she wants the State Department to release her emails ASAP. Thing is, she and her staff have sanitized the emails and what they will release likely hold no information of value. This is bad. She is playing the American people for a bunch of idiots and if we let her get away with all this bullshit-we are.

Fri 5/22/2015 …The State Department will release emails at 12:30pm EDT Friday that former Secretary of State Hillary Clinton sent and received in the aftermath of the 2012 attacks on an American diplomatic facility in Benghazi, Libya.” Wall Street Journal

So, it took nearly THREE years for these emails to be turned over…. Does ANYONE doubt that these emails are all that is left of what she scrubbed clean? How stupid do they think we are? It’s a joke. These Clintons…they are like Bonnie & Clyde, just running around, doing whatever they want, just hair this side of legal. Everyone knows it. They have been doing it for years, we have been catching them for years and yet, here she stands, on the precipice of assuming the most critical position on the planet. What are people thinking? Is there no longer any common sense?

Boston Marathon Bomber Sentencing

Friday afternoon came the news that Dzhokhar Tsarnaev was sentenced to death for his role in the Boston Marathon bombing two years ago. I am sure they will appeal though it should not be allowed. We have that piece of crap on video going about his business. Fry him NOW, save us from feeding, clothing and housing him. Better yet, tie him to a pole and put a ticking bomb at his feet.

Islamic State

Over the weekend Islamic state seized control of the western city of Ramadi, capitol of Iraq’s largest province after military officials ordered security forces to retreat.

On Saturday it was reported that US Special Operations forces conducted a raid in eastern Syria that killed a senior leader from Islamic state and captured his wife, also thought to be a member. Additionally, much digital data has been collected from the site.

 

Take a moment this Memorial Day weekend to acknowledge the sacrifices so many Americans have made in order that we enjoy the great treasure of freedom. God Bless them.

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.

Remember these tidbits as the election cycle grinds on:

  • Fast & Furious-Americans killed by guns supplied to the drug cartels…by the Department of Justice-Eric Holder presiding. The president was clueless. No one held accountable
  • Benghazi: Four Americans killed in an assault described as the result of a viral video. This was proved to be a false narrative. This was in fact, a planned act of terror. The president was clueless. No one even knows where he was as this went down. No one held accountable
  • “At this point, what difference does it make?” Hillary Clinton as Secretary of State
  • The IRS targeting of conservative groups and individuals. No one held accountable, Lois Lerner is on paid vacation and has refused to testify. The president was clueless. No one held accountable
  • Hillary using a private server for correspondence during her term as Secretary of State against the orders of the president. She thought “it would be more convenient…” Though the records were due when she left office, they were not submitted, subpoenas were issued, which she ignored for two years. Finally, she released 30,000 of some 60,000 alleged emails then she deleted the rest of the emails and will NOT turn over the server for investigation.