Recession Risks Grow as US LEI Continues to Decline
Recession risks grow, as the Conference Board Leading Economic Index (LEI) for the US decreased by 0.8 percent in June, after declining 0.6 percent in May. The LEI was down 1.8 percent over the first half of 2022.
The US LEI declined for a fourth consecutive month suggesting economic growth is likely to slow further in the near-term as recession risks grow,” said Ataman Ozyildirim, Senior Director of Economic Research at the Conference Board. “Consumer pessimism about future business conditions, moderating labor market conditions, falling stock prices and weaker manufacturing new orders drove the LEI’s decline.
I don’t know if this has changed but in years past, 3 months of declining LEI announced recession. That would mean we are already in it. No one knows how deep or long this will last. Buckle up.
US Raw Steel Production Down from Prior Week
In the week ending 7/16/2022, US raw steel production was 1,738,000 net tons at an ACUR of 78.9 percent. Production for the week was down 0.6 percent from the prior week.
US Drill Rigs Running Up from Previous Week
There were 756 drill rigs running in the US last week, up four from the previous week, up 272 rigs from one year ago. Canadian drillers added 16 rigs, to 191, up 16 from the previous week, up 41 rigs from one year ago.
Total Housing Starts Fell in June
The 1.559 million-unit pace registered during the month marks the slowest pace since September 2021. Single family starts dropped 8.1 percent for the fourth consecutive monthly decrease, which drove the decrease. Wells Fargo
Manufacturing Activity in the Region Declined Overall
The Federal Reserve Bank of Philadelphia released its July 2022 Manufacturing Business Outlook Survey and reports manufacturing activity in the region declined overall, according to firms responding to thee survey. The survey’s indicators for current general activity and new orders declined further into negative territory.
The Southern Border Rages On
The Democrats do not give a rat’s ass about our southern border, women and children are being raped, sodomized, made into sex slaves, are being trafficked by the drug cartels. People are being murdered. People are dying while on their journey to America. What is wrong with these legislators of ours? Has our government become so corrupt that the lives of innocent men, women and children mean nothing to them but a fucking vote? Shameful …
Treason in Ukraine
Meanwhile, the fighting continues in Ukraine. Apparently Zelenski this weekend, fired about 15 people in his trusted inner circle for spying for the Russians. I must wonder if any of these treasonous bastards are still alive. I hope not.
Mask Mandates & Monkeypox
As if we couldn’t see this coming prior to the November mid-terms;
Mask mandates are being re-instated in-where else but California. People are lining up elsewhere to get monkey pox vaccines. Why? Unless you are a homosexual you have little chance of contracting the virus. Additionally, it is ugly, but not deadly. All this fear mongering by the left is aimed at allowing mail-in ballots for the mid-terms. These fucking commies will stop at nothing to keep their unlawfully begotten powers.
Deleted Secret Service Text Messages
OBSTRUCTION OF JUSTICE??: the US Secret Service text messages sent on the day the US Capitol was breached have been deleted!
A number of texts from Jan. 5 and Jan. 6,2021 “were erased as part of a device-replacement program,” (if you believe that, I would like to sell you some ocean-front property in Oklahoma) Joseph Cuffari, the Department of Homeland Security’s inspector general.
The deletions were done after Cuffari’s office requested records as part of its evaluation of the events at the Capitol on Jan. 6, 2021.
Global Chip Shortage
The US has been forced over the past two years, to navigate a global semiconductor shortage, which has affected the day-to-day lives of nearly every American…The US share of global chip manufacturing has declined to 12% today from 37% in 1990.” WSJ
Naturally, who can we lay blame to but our politicians who seem to love filling their pockets with money at the expense of the American citizens who have blindly elected them. Fortunately, as soon as this week the Senate will hold a vote on funding the Chips Act, which would provide $52.2 billion in grants and $24 billion in tax credits to the profitable US semiconductor industry (to repair previous trade giveaways?). Within minutes, the bill turned into a $250 billion bipartisan spending spree. None of these expenditures are necessary and will only serve to enrich the politicians and their buddies.
Anyway, Nancy Pelosi has access to the agenda of Congress, she knew in advance this bill was on the way to the floor. Consequently, before it was announced to the public, her husband, Paul, invested $1 million in semiconductor manufacturer Nvidia which is up 16% this week. Are the Pelosi’s about to benefit from the infusion of taxpayer cash? You bet. Nancy says she owns no stock and pleads innocence. We all know she has insider information and her husband just traded on that information. Illegal? Yes. Will anyone be held accountable? Of course not.
Greenwood Park Mall Shooter
In case you were unaware, last Sunday at a mall in Greenwood, Indiana an unidentified shooter killed two shoppers before being gunned down by an armed American citizen. We must protect our right to keep and bear arms to defend ourselves, our family and friends.
Pain at the Pump
Did you hear our Transportation Secretary, Mayor Pete, say emphatically that dems are allowing the pain at the pump in order to force people toward electric vehicles? He can shove it up his ass, where he happily shoves everything else. Loser…
Since I was a boy, back in the 1950’s, I have seen in school and on TV at home; famine, drought, heat waves, sub-freezing weather, floods, earthquakes, fire, volcanic eruption and all manner of what used to be called “natural catastrophe’s.” Now it is all about global warming, no, global cooling, no, climate change. The heat wave in the US and in Europe this summer is nothing more than the earth doing what she does. The climate freaks will have none of it. The idiot in the Oval office will soon make a statement about the heat wave and will call it an emergency threat to mankind, that we must act, now! It is all bullshit. Emergency powers granted to the president are meant for extreme but temporary situations. They were not instituted so this president could run around the Congressional duty to legislate.
Do you ever wonder why We the People do not have a say in all this? The progressives are shoving this crap down our throats to enrich themselves and their buddies and we cannot have an opinion? That is just wrong.
Biden Tests Positive for Covid
On Thursday the White House advised the American people that the idiot in the Oval office has covid-19. He has had 4 vaccinations and 2 boosters. A lot of good it did him…and anyone else foolish enough to get vaccinated is also in danger. Yes, you can contract covid again, even if you have been vaccinated, but people are dying from the vaccine and many are experiencing serious side effects that no one planned on.
“MAKE AMERICA GREAT AGAIN”
“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.”