Residential Construction Gathering Momentum

Residential construction gathering momentum despite higher interest rates. Total housing starts soared 21.7% over the month of May to a 1.63-million-unit annual pace. While total starts are still down 15.5% on a year-to-date basis, May’s surprising upturn was the strongest since October 2016 and the eighth largest monthly gain since at least 1959. Wells Fargo

US Raw Steel Production Up from Previous Week

In the week ending June 17, 2023, US raw steel production was 1,743,000 net tons at an ACUR of 77.5 percent, up 0.2 percent from the previous week ending June 10, 2023.

CFNAI Decreased in May

Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) decreased to -0.15 in May from +0.14 in April. Two of the four broad categories of indicators used to construct the index decreased from April, and three of the four categories made negative contributions in May. The index’s three-month moving average, CFNAI-MA3, increased to -0.14 in May from -0.20 in April

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.

The Conference Board Leading Economic Index (LEI), fell for the fourteenth straight month in May.

News Headlines

We have a tragedy brewing beneath the sea. A submersible vessel, with 5 passengers, departed on a journey to the wreck of the Titanic. They are now lost at sea. There is no sound coming from the deep and at 13,000 feet (the depth at which the wreck lies), there is no light and likely a maze of dangerous wreckage. As of Wednesday morning, they are assumed to have around 240 hours-worth of oxygen remaining. All available assets are involved in the search. Our prayers go out for the crew and their families during this very trying time.

As of Thursday morning, the submersible Titan has not been located. The oxygen supply has likely been depleted. We must pray for the souls lost at sea.

Thursday afternoon 3:00PM debris from the submersible Titan has been located 1600 feet from the wreckage of the Titanic. There are obviously no survivors. Rest In Peace and may your surviving families and friends find peace through their God.

On Tuesday, Hunter Biden had been charged and has plead guilty to 3 Federal charges. It has only been 5 years since the investigation was started. According to the news, he was offered a sweetheart plea deal for failure to pay taxes in 2017 & 2018 to the tune of $100,000.00 each year, on income of well over $1 million each year. That’s pretty good earnings for a crack addict who has never worked. Additionally, he lied on a federal firearm application, the possession of which was against the law. This piece of shit will be sentenced to probation. There seems to be some question as to whether or not a prosecution for the family money laundering scheme will be pursued.

This is a bit ridiculous; don’t you think? They put Al Capone in jail for tax evasion (and many others) and how many folks today are behind bars for lying on a federal firearms form and further, having a firearm in their possession when under disability?

Now it’s Friday and word has come out of the obstacles placed by the Department of Justice on investigators pursuing the truth about the Biden crime family. The Biden administration as well as Attorney General Garland simply squashed the investigations. This is the United States, and this shit is not supposed to happen here, but we are ruled by tyrants and this behavior will only get worse. I pray to God the American people wake up to this. We must get rid of the vermin which have infested our government with corruption.

The known liar, Adam Schiff (D-Calif) was censured by the House this week for perpetuating the notion there was collusion between Trump’s 2016 campaign and Russia. He lied by saying he had evidence, which was never produced, and all his lies were debunked by the Mueller Report. And yet, Californians continue to elect this fool to legislate for them. It’s uncanny.

A censure resolution is a punitive action that can be undertaken by the House to discipline members for actions that fall short of grounds for expulsion from the lower chamber. Schiff is only the 25th member of the House in American history to face such an action out of over 10,500 who have served in the House.

“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.”