Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased in June from May. The index’s three month moving average (CFNAI-MA3) increased to -.026 in june from -0.37 in May, marking its fourth consecutive reading below zero. June’s CFNAI-MA3 suggests growth in national economic activity was below its historical trend.
The president last week delayed both the Individual and Employer Mandates of ObamaCare for 1 year. Do you wonder why? Here are a few reasons from a survey taken by the US Chamber of Commerce:
- 71% of small businesses said the law will make it harder to hire new employees
- Just 30% of small businesses are “prepared for the requirements of the law”
- 50 percent of businesses that will fall under the employer mandate will deal with it by cutting employee hours or replacing full time workers with part time workers
- 24 percent of small businesses that do not currently fall under the employer mandate “will reduce hiring to stay under 50 employees.”
That’s nice isn’t it? When our lawmakers and leaders should be focused on the creation of jobs and the pursuit of a healthy economy, they choose instead to saddle American job creators with more taxes and regulations which stifle hiring, stifle economic growth. Hell, it is taking us backwards already and it has not even been instituted yet. This is bull crap. The law is bull crap, its intent is bull crap. I have spent my entire career (as have most citizens) trying to overcome the garbage spewing forth from Washington in the form of taxes and regulations and useless laws levied on the American people.
- The US Federal Reserve Bank announced that Industrial Production rose 0.3 percent from May to June and 0.6 percent from the first quarter of 2013 to the second.
- The US Census Bureau reported retail sales increased 0.4 percent from May to June.
- Statistics Canada announced that factory sales in the country rose 0.7 percent from April to May.
- According to the Federal Reserve Bank of New York, the manufacturing industry in its region continued to expand in July. Additionally, the Federal Reserve Bank of Philadelphia announced that its manufacturing index increased from June to July.
- Last Friday 7/19 the Conference Board released its latest report on business. The index was unchanged in June from May, remaining at 95.3 following a 0.2 percent increase in May and a 0.8 percent increase in April.
I was on the road all last week and apologize for being late. I did see a lot of steel moving on the roads this trip and was encouraged by seeing quite a few trucks carrying steel bar. Not the case the last time I travelled…..
Do you believe this Anthony Weiner guy? He is delusional…..Mayor of New York? Right.
What about the president calling his scandals “phony”? Are you kidding me? Fast and Furious, the IRS, The Justice Department, Benghazi????? Phony scandals? Is the president delusional? It is certainly not rational thinking, political thinking, maybe. Still, no one has been held accountable for any of these occurrences and that IS a tragedy.
Hope you had a great weekend,
God Bless America