The NAHB/Wells Fargo Report Housing Market Index at Highest Level Since July 1999
Principally reflecting strengthening demand, the NAHB/Wells Fargo report the Housing Market Index (HMI) at highest level since July 1999. Wells Fargo
Architecture Billings Index (ABI) rose to highest level of the year in November. This marks the ninth reading above the 50 threshold so far this year and reflects strengthening demand for architecture services. Wells Fargo
Existing home sales rose solidly in November as sales finally had a break out month. Wells Fargo
New home sales surged 17.5 percent in November. The three-month trend is clearly strengthening.
US SBQ Steel Prices Increased $20.00 Per Ton
US SBQ steel prices have increased by $20.00 per ton for January shipment, in line with No. 1 busheling markets in Chicago. AMM
US Raw Steel Production Increased 1.6 Percent Last Week
US raw steel production increased 1.6 percent last week as mills operated at an ACUR of 72.8 percent. In the corresponding week last year mills operated at an ACUR of 67.8 percent. Thus far this year mills have produced prox 87,000,000 tons compared to the prox 83,000,000 tons produced in the like period last year. AMM
We will finish the year far below the 100,000,000 tons typically produced in a strong market. In my view, this will improve dramatically next year as the President pushes for an infrastructure spending bill, an increase in military spending and funding a wall to help keep illegals OUT of our country.
Third and Final Estimate of GDP Growth by the Bureau of Economic Analysis Comes in at 3.2 Percent
Chicago Fed National Activity Index (CFNAI) Declined in November
Led by slower growth in production related indicators, the Chicago Fed National Activity Index (CFNAI) declined to +0.15 in November from +0.76 in October. The index’s 3 month moving average (CFNAI-MA3) increased to +0.41 in November from +0.31 in October.
What do the numbers mean? A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth. Periods of economic expansion have historically been associated with values of the CFNAI-MA3 above –0.70 and the CFNAI Diffusion Index above –0.35.
Conversely, periods of economic contraction have historically been associated with values of the CFNAI-MA3 below –0.70 and the CFNAI Diffusion Index below –0.35. An increasing likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +0.70 more than two years into an economic expansion. Similarly, a substantial likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +1.00 more than two years into an economic expansion.As long as the CFNAI-MA3 is moving up…we are in good shape.
Conference Board Leading Economic Index (LEI) for the US Increased 0.4 Percent in November
The Conference Board Leading Economic Index (LEI) for the US increased 0.4 percent in November, following increases in September and October.“The US LEI rose again in November suggesting that solid economic growth will continue into the first half of 2018,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at the Conference Board.
In recent months unemployment insurance claims have returned to pre-hurricane levels. In addition, improving financial indicators, new orders in manufacturing and historically high consumer sentiment have propelled the US LEI even higher.”
December 2017 Manufacturing Business Outlook Survey Reports Continued Improvements
The Federal Reserve Bank of Philadelphia released its December 2017 Manufacturing Business Outlook Survey and reports regional manufacturing conditions continued to improve. Indexes for new orders, general activity and shipments were all positive and increased from their readings last month.
Tax Reform Passes
Both the Senate and the House of Representatives have passed the first tax reform overhaul in 30 years. Despite the bullshit the Democrats are feeding to their base, most everyone will get a tax break in 2018 and beyond.
Additionally, corporate rates and pass through rates are dropping, corporate rates significantly. In my view, the coiled spring of the American economic engine is about to be released. This country is about to explode with jobs, security, prosperity, higher wages and more.
As a result (for starters) of the passing of tax cuts, several large corporations on Thursday, have announced they will be giving large bonus’ to their employees or are raising the minimum wage at their businesses or have pledged to spend more here at home. This is capitalism at work folks. Give individuals and business more of their own earnings and they will save more, spend more, invest more.
Chuck Schumer is a complete idiot. How can he stand there and tell people they are about to get screwed when their taxes are going to go down, probably in February.
…and Nancy Pelosi is smoking crack and a lot of it. She says 80 million Americans will have their taxes rise because of this bill. That is total bullshit! What she is not saying is that the increases, should they occur in eight years as the rates sunset, will occur, but I can guarantee you that no Republican will try to take away what they have given you this week (It is after all, your money and the Democrats hate to see it go because they love to spend your money). They had no problem when Obama spent $10 trillion doubling our debt. And mark my words, if they gain control again they will stick it right up your ass.
On Friday President Trump signed thr sweeping tax overhaul into law, as well as a spending bill to keep the government open through mid-January.
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”
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.”