US Raw Steel Production Highest Level Since February

After rising 0.7 percent last week, US raw steel production highest level since early February, as mills operated at an ACUR of 73.3 percent. In the corresponding week last year, mills operated at an ACUR of 79.6 percent. Thus far this year mills have operated at an ACUR of 72.5 percent, producing prox 49,000,000 tons, down from the nearly 53,000,000 tons produced in the like period last year.

Chicago Fed National Activity Index (CFNAI) for June

Led by improvements in production and employment related indicators, the CFNAI moved up to +0.08 in June from -0.08 in May…the index’s 3 month moving average (CFNAI-MA3) edged up to -0.01 in June from -0.07 in May. June’s CFNAI-MA3 suggests that growth in national economic activity was very close to its historical trend. The economic growth reflected in this level of the CFNAI-MA3 suggests limited inflationary pressure from economic activity over the coming year.”

The Conference Board Leading Economic Index (LEI)

The LEI for the US increased 0.6 percent in June to 123.6 following a 0.8 percent increase in May and a 0.6 percent increase in April.

The upward trend in the US LEI seems to be gaining more momentum with another large increase in June pointing to continued strength in the economic outlook for the remainder of the year. Housing permits and the interest rate spread drove the latest gain in the LEI, while labor market indicators such as average workweek and initial claims remained unchanged.”

Ataman Ozyildirim
Director, Business Cycles and Growth Research, at the Conference Board

Theodore Roosevelt in 1919 said…

We should insist that the immigrant who comes here does so in good faith become 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 birth place or origin.
But this is predicated upon the man’s becoming in very fact an American and nothing but an American. If he tries to keep segregated with men of his own origin and separated from the rest of America, then he isn’t doing his part as an American. There can be no divided allegiance here…
We have room for but one language here, and that is the English language, for we intend to see that the crucible turns our people out as Americans, of American nationality, and not as dwellers in a polyglot boarding-house; and we have room for but one soul loyalty, and that is loyalty to the American people.”

The “Deal”

We started the week with the knowledge that the president has circumvented the 60 day review time frame granted the Congress and sent his bullshit “deal” to the United Nations which immediately ratified it. This is the single most ill-conceived plan to feed one’s own ego I have ever witnessed. Just like his health care bull, which is now and will continue to cause economic distress here at home, this “nuclear deal” with our enemy will cause huge problems in the US and around the globe. The sheer stupidity of allowing these scumbags access to a nuclear warhead arsenal, possession of anti-ballistic missiles and whatever armaments they care to buy is beyond comprehension. What has he done? I don’t know what I am missing here because many people are fine with this deal. I do not understand…

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.