LEI Increased 3 Consecutive Months
The LEI increased 3 consecutive months, according to the Conference Board Leading Economic Index (LEI) for the US, which showed an increase of 0.2 percent in April following a 0.3 percent increase in March and a 0.2 percent increase in February.
The US LEI rose in April, the third consecutive increase, with a majority of the leading indicators making positive contributions,” said Ataman Ozyildirim, Director of Economic Research at the Conference Board. “Stock prices, financial conditions and consumers’ outlook on the economy buoyed the US LEI, although the manufacturing sector showed continuing weakness.
US Drill Rigs Running Dropped by One
The number of drill rigs running in the US dropped by 1 to 987 last week. Meanwhile Canadian drilling remained the same at 63 operating rigs.
US Raw Steel Production at ACUR 81.6%
In the week ending May 18, US raw steel production was 1,900,000 tons at an ACUR of 81.6 percent. Thus far this year mills have produced prox 37,525,000 tons compared to the prox 35,225,000 tons produced in the like period last year.
The US Census Bureau Monthly Advance Report on Manufacturers’ Shipments, Inventories and Orders April 2019:
- New orders for manufactured durable goods in April decreased 2.1 percent. This decrease, down two of the last three months, followed a 1.7 percent March increase.
- Shipments of manufactured durable goods in April, down three of the last four months, decreased 1.6 percent.
- Inventories of manufactured durable goods in April, up nine of the last ten months, increased 0.4 percent, following a 0.3 percent March increase
Chicago Fed National Activity Index (CFNAI) fell to -0.45 in April from +0.05 in March
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) fell to -0.45 in April from +0.05 in March. Three of the four broad categories made negative contributions to the index in April. The index’s three-month moving average (CFNAI-MA3) moved down to -0.32 in April from -0.24 in March.
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.
…”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
We believe the President of the United States is engaged in a cover-up.” Nancy Pelosi 5/22/19
A cover-up of what, exactly? That is a baseless charge, what proof does she have? I mean, it is the president of our country she is accusing. Where or what is the proof?
…then she and Chuckie traveled to the oval office to discuss an infrastructure bill of $2 trillion (or how much of it they could turn into “pork”) and how to pay for it but President Trump said no working with the Democrats until they cease their investigative nonsense…more obstruction, more resistance. Fuck ’em.
The cover-up (attempted) is being made by the Democrats, still horrified that Hillary lost 3 years ago. Had she won (God forbid), all of the corrupt things done during the Obama years would have been swept under the rug, never to be found, but the cat is out of the bag. We know most of what they did and now, hopefully, the Justice Department will bring due justice to these criminals. Obstruct and resist all you want, your time in power is near its end…all of you.
Memorial Day Mindfulness
As we enter this Memorial Day weekend, let us pause for a moment to reflect on the sacrifices made by the young men and women who have, throughout the history of our great country, made the supreme sacrifice to preserve our freedoms and to promote those same freedoms to other peoples and nations around the world. God bless the men and women of the United States military.
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.”</blockquote