Labor Market Gradually Cooling

The labor market gradually cooling, as the US economy created 187,000 jobs in July, the 2nd sub-200k report. The number was still strong enough to keep downward pressure on unemployment.

Texas Manufacturing Activity Declined

The Federal Reserve Bank of Dallas released its July 2023 Texas Manufacturing Outlook Survey results and reports factory activity declined in the month, according to executives responding to the survey. The production index, a key measure, held steady at -4.8, a reading indicative of modest contraction in output.

Other measures of manufacturing activity also indicated contraction. The new orders index has been in negative territory for more than a year.Perceptions of broader business conditions continued to worsen in July.

US Raw Steel Production Up from Previous Week

In the week ending July 29, 2023, US raw steel production was 1,749,000 net tons at an ACUR of 76.9 percent, up 0.5 percent from the previous week.

US Drill Rigs Running Down from Previous Week

There were 664 drill rigs running in the US last week, down five rigs from the previous week and down 103 rigs from one year ago. Meanwhile, Canadian drillers added six rigs, to 193, down eleven rigs from one year ago.

News Headlines

It is abundantly clear that the so called “Democrats” are horrified of Donald John Trump. They say Biden can beat him. That is pure horse shit, had they not cheated in 2020, Trump would still be president. Gasoline and diesel process would be about half what they are today, same for heating and cooling fuel, your food would be much cheaper, there would not be the rampant crime in our streets, the border would be secure, there would be no war in Ukraine, our military would be a deterrent, not a woke mass of idiots, and on and on.

Tuesday afternoon Trump was indicted once again, on four frivolous counts and his legal fees to date have cost some $60 million. The bastards are trying to bleed his campaign dry; he will have to appear in court which causes disorder in his campaign. That we are seeing this blatant persecution of a former president, currently the leading candidate for president in the Republican party, just confirms the preceding paragraph and should not be happening in the United States of America., especially while Joe, Hunter, Jim, and the rest of the Biden crime family walk free, no charges, no investigation by the weaponized DOJ, it is just ridiculous, especially with the preponderance of hard evidence against them.

With Congress leaving Washington for a six week summer break (because they work so hard for us), the White House last week dumped another truckload of regulations that will cost American taxpayers hundreds of billions of dollars.

The Transportation Department on Friday proposed a 696 page rule raising corporate average fuel economy (CAFÉ) standards that would effectively require 100% of new cars to be electric by 2032. This is even more aggressive than California’s EV mandate which would not ban the sale of new gas-powered cars until 2035.

Passenger cars would have to achieve 66.4 miles per gallon in 2032, up from 44.1 mpg last year. The ramp-up for trucks and SUVs is even steeper-to 54.4 mpg from 32.1 mpg. Auto makers will have no way to comply but to make more EVs.

Here is the kicker: the Energy Department is also proposing to reduce the “miles per gallon equivalent” for EVs. For example, the F-150 Lightnings rating would decline to 67 mpg from 237mpg. This means auto makers will have to produce even more EVs to meet Café mandates. They will be fined if they fall short.

A GM presentation to the White House estimated that industry penalties could total $300 billion, or about $4300 per vehicle, from 2027 to 2031. Consumers and workers will pay the cost, and for what? The administration claims the proposal will reduce CO2 emissions through 2050 by 885 million metric tons (this is another pie in the sky projection based on computer models having zero connection to reality, like all the other climate change bullshit), this is about half as much as Canada’s wildfires are “projected” to release this year.

There is much more of this crap, but I tire of writing it. If the above does not make you feel ill, I do not know what will. The bastards are out to control everything we do.

“MAKE AMERICA GREAT AGAIN”

and

“KEEP AMERICA 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.”