Raw Steel Output Rose 1.4% Last Week to an ACUR of 79.8%

Chicago Fed National Activity Index (CFNAI)

The CFNAI released on Monday reports:

Led by slower growth in production related indicators, the CFNAI edged down to +0.12 in June from +0.16 in May. The index’s 3 month moving average (CFNAI-MA3), decreased to +0.13 in June from +0.28 in May, marking its fourth consecutive reading above zero. June’s CFNAI-MA3 suggests that growth in national economic activity was somewhat above its historical trend.

Friday 7/25 – Highlights from US Census Bureau advance report on Durable Goods Manufacturers:

  • New orders for manufactured durable goods in June increased 0.7 percent
  • Shipments of manufactured durable goods in June, up four of the last five months, increased 0.1 percent
  • Unfilled orders for manufactured durable goods in June, up fourteen of the last fifteen months, increased 0.8 percent
  • Inventories of manufactured durable goods in June, up fourteen of the last fifteen months increased 0.4 percent

From the Bureau of Economic Analysis (BEA) 7/30/14

Real gross domestic product-the output of goods and services produced by labor and property located in the US-increased at an annual rate of 4.0 percent in the second quarter according to the advance estimate released by the BEA.

This is the first of three reports on second quarter GDP. The second estimate for second quarter GDP will be released on August 28, 2014.

US raw steel output

… rose 1.4 percent last week from the previous week as mills operated at an average capacity utilization rate (ACUR) of 79.8 percent. It was the highest weekly level since June 2012. In the corresponding week last year mills operated at an ACUR of 77.3 percent. Thus far this year mills have operated at an ACUR of 76.8 percent.

Friday 8/1 – Institute for Supply Management July 2014 Manufacturing Report on Business:

Economic activity in the manufacturing sector expanded in July for the 14th consecutive month and the overall economy grew for the 62nd consecutive month. The July PMI (Purchasing Managers Index) registered 57.1 percent, an increase of 1.8 percentage points from June’s reading of 55.3, indicating expansion in manufacturing for the fourteenth consecutive month.

  • The new orders index increased 4.5 percentage points
  • The production index increased 1.2 percentage points
  • Employment grew for the 13th consecutive month, increasing 5.4 percentage points
  • Inventories of raw materials decreased 4.5 percentage points, contracting after five months of consecutive growth.

Comments from the panel are generally positive, while some indicate concern over global geopolitical situations.”

 Israel v Hamas

I do not understand the continual blame Israel is receiving in its current conflict with Hamas. In the Wall Street Journal today they blame Israel for an attack on a UN shelter for displaced Palestinians. In the meantime, Israel has found rockets located at three UN shelters. What does the world want from these people? This is war, there are unwanted casualties in war, especially when your enemy hides rockets and munitions in hospitals, places of worship, shelters and among innocent people etc.

The answer is simple: you want to stop the war, the killing of innocents? Agree to living in peace, no more rockets, no more attacks on Israel or the Israeli people. Unfortunately, this will not happen, as Hamas has sworn to pursue the complete destruction of Israel and the Israeli people. So, Israel must defend itself and its people. The Israelis clearly want to live in peace but, it becomes quite difficult, when your neighbors openly want you destroyed and continually lob rockets at you. Now, with the discovery of the cross- border tunnel systems from Gaza into Israel, the Israeli government is compelled to locate and destroy them in order to protect its citizens and property. Who would not proceed in the same manner??? This is all bullshit.

The following was written in May 1968 by Eric Hoffer:

Yet at this moment, Israel is our only reliable and unconditional ally. We can rely more on Israel than Israel can rely on us. And one has only to imagine what would have happened last summer had the Arabs and their Russian backers won the war to realize how vital the survival of Israel is to America and the West in general.”

‘I have a premonition that will not leave me; as it goes with Israel so will it go for all of us. Should Israel perish, the Holocaust will be upon us.”

Wall Street Journal 7/31/14

Look around you, Muslim terror is everywhere in the world. No Muslim leaders here or anywhere denounce the hatred spewed by the radicals; they just let it continue to happen. It is a very bad situation and our government lacks the cojones (that’s balls in English) to stand up to this crap.

Cease Fire! Cease Fire!

Agreed upon by Hamas and Israel, a 72 hour cease fire was called, starting Friday morning; then the Israeli military reported a suicide bomber blew himself up as its forces were trying to plug up Hamas tunnels near the southern Gaza city of Rafah and one of their soldiers was missing in action, and may have been captured during the ensuing clash…Cease Fire over (Wall Street Journal)

Back home

US employers added 209,000 jobs in July, a slowing, but hiring remained robust with broad based payroll gains, evidence of continued strength in the labor market and the broader economy. Unemployment ticks up to 6.2%
….And the Congress goes on vacation…..

Remember:

Fast & Furious-providing weapons to criminals leading to a loss of American life. No one held accountable. The president was unaware.
The loss of 4 American lives at our embassy in Benghazi, Libya. No one held accountable. The president was unaware.
The IRS targeting conservative political groups for tax-exempt status. No one held accountable. The president was unaware.
The National Security Administration eavesdropping on the phone calls of American citizens. No one held accountable. The president was unaware.
The software program created for the Affordable Healthcare Act, at a cost of $1 billion (thus far) and 3 ½ years to “perfect”, has been unusable to the American people. No one held accountable. The president was unaware.
Spying on our Allies, specifically Angela Merkel of Germany. No one held accountable. The president was unaware. (Although these things go on knowingly between countries all the time, the fact that our president denies knowledge of this is just another sign of his incompetence as the leader of the most powerful country on the planet).
“If you like your current insurance plan you can keep it. Period” Barack Obama
“If you like your doctor, you can keep him. Period” Barack Obama

Have a great weekend and….

Hug your children and grandchildren, tell them you love them.
Buy American made products whenever you can.
Hire a Veteran: they are patriots, honest, hard working, disciplined, loyal…. and …. They need and deserve our support.

God Bless America