Survey Future Indexes Positive but Declined
Survey future indexes positive but declined, according to the Federal Reserve Bank of Philadelphia August Manufacturing Business Outlook Survey results. It reports manufacturing activity in the region expanded overall, according to firms responding to the survey. The survey’s indicators for general activity, new orders, and shipments were all positive for the first time since May 2022. Expectations for growth over the next six months were less widespread, as most of the survey’s future indexes remained positive but declined.
Business Activity Declined in New York State
The Federal Reserve Bank of New York released its Empire State Manufacturing Survey results and reports business activity declined in New York State, according to firms responding to the survey. The headline general business conditions index fell, new orders and shipments fell significantly. Delivery times were steady, and inventories moved lower.
Looking ahead, firms grew more optimistic about the six-month outlook.
US Raw Steel Production Up from Prior Week
In the week ending August 12, 2023. US raw steel production was 1,737,000 net tons at an ACUR of 76.4 percent, up 0.6 percent from the prior week ending August 5, 2023.
US Drill Rigs Running Down from Previous Week
There were 654 drill rigs running in the US last week, down five rigs from the previous week which is down 109 rigs from one year ago. Canadian drillers added two rigs, to 190, down eleven rigs from one year ago.
The average mortgage rate rose this week to 7.09%, its highest level in 20 years. Bidenomics at work, haha…
The LEI Declined in July
The Conference Board Leading Economic Index (LEI) for the US declined by 0.4 percent in July. The LEI is down 4.0 percent over the six-month period between January and July 2023, a slight deterioration from its 3.7 percent contraction over the previous six months (July 2022 to January 2023). This is the sixteenth consecutive monthly decline in the LEI, signaling the outlook remains highly uncertain.
News Headlines
We know that at least $21 million dollars flowed into the Biden family thru the corrupt efforts of the president’s crack-head son, Hunter. They have created some 20 or so LLCs through which they could wash their bribe money. Additionally, though Biden himself has in the past, and continues today, to deny any involvement in his son’s or his brother Jim’s overseas business deals, there is now proof that Biden was in on at least 20 phone calls with corrupt foreign officials, all wanting a piece of Biden’s power. Lie, deflect, lie more, deflect. Where did all this money go?
How do the Marxist Democrats get away with this attack on our Constitution, the laws of our land. There seems to be no accountability for any elected official in government. And then there is Donald Trump, the 45th president of our nation who has been under attack from the left for 8 or 10 years. Monday night, he was indicted in Georgia, his fourth indictment in the last several weeks. He is accused of committing 70 or 80 felonies, with penalties of up to 650 years in prison. That is where the Democrat party wants him, behind bars.
But why is he so hated and feared? Because he did not join the “club” wherein you do the bidding of the party elites. He wanted to end all this corruption and make the USA great again. He could not, and cannot, be bought. The end result is the elites, and the politicians must do what they can to keep him from stopping their thieving ways. This is a sin against our Republic. Trump is likely innocent, many of the charges against him are frivolous and meritless, however, the legal fees are draining his campaign funds, the court dates will keep him off the campaign trail. It all smells of election interference to me, and it is, yet we all know no one will be held accountable in our banana republic.
Mayorkas: “I want to be perfectly clear; our borders are not open.” He really must think we are a bunch of clueless idiots. 8/14/23 he continues to have the nerve to say this. Amazing.
From an editorial by Janet Yellen 8/16/23 Wall Street Journal:
When I gave my first major climate speech in the late 1990’s, many still regarded the effects of climate change (the global warming) to be abstract and remote. No longer; today no one can ignore the mounting evidence of climate change’s effect on our planet and on our way of life.”
This is such political bullshit, that I have stained my pants. Climate change is making many people, like Al Gore and the crooked politicians who spend your money to enrich themselves and their buddies, very wealthy while in reality, doing little or nothing to address climate change, which is happening naturally and which we cannot control.
In a related editorial on the same day, Holman W. Jenkins, Jr. wrote the following:
The numbers bear this out. Worldwide investment in renewable energy, by some dubious measure, has exceeded investment in fossil fuels in recent years, yet this merely testifies to how inefficient such investments are in producing energy output. Cut to the chase: global CO2 emissions actually grew 12 percent faster in 2022 than energy consumption did.”
“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.”
