Builder Confidence Rose Sharply
Builder confidence rose sharply, as evidenced by the surge in new-home sales. New home sales topped expectations in July, surging 13.9% to a 901,000-unit annual rate. Sales jumped in the more affordable areas.
US consumer spending rose 1.9% in July…
US Drill Rigs Running Increased Last Week
There were 254 drill rigs running in the US last week an increase of 10 rigs from the previous week-finally. Oil is around $43.50 a barrel. This number is down 662 rigs from the same period last year. Canadian drilling moved up by 2 rigs, down 83 from the same period last year.
US Raw Steel Production Up (Again) From Previous Week
In the week ending 8/22/20 US raw steel production was 1,412,000 net tons at an ACUR of 63%, up 2.5% from the previous week.
Durable Goods Orders Up for Third Consecutive Month
Durable goods orders rose in July for the third consecutive month, rising 11.2 %. Orders for military aircraft and motor vehicles led the charge. New orders for non-defense capital goods, excluding aircraft, increased 1.9 percent, barely shy of February levels.
Chicago Fed National Activity Index Declined in July
Led by moderation in the growth of production and employment related indicators, the Chicago Fed National Activity Index (CFNAI) declined to +1.18 in July from +5.33 in June, three of the four broad categories of indicators used to construct the index made positive contributions in July. The index’s 3 month moving average (CFNAI-MA3) rose to +3.59 in July from -2.78 in June.
What is the National Activity Index? The index is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories.
Why are there three index values? Each month, we provide a monthly index (the CFNAI), its three-month moving average, and a diffusion index. Month-to-month movements can be volatile, so the monthly index’s three-month moving average, the CFNAI-MA3, provides a more consistent picture of national economic growth. The CFNAI Diffusion Index instead captures the degree to which a change in the monthly index is spread out among its 85 indicators, averaged over a three-month period.
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.
This past weekend, in addition to the now usual (Seattle, Chicago, Portland, New York, Chicago) we had riots in Denver, Co and Kenosha, Wi. More rioting, looting, arson etc. Have we had enough yet? I believe this horse shit will continue if the commies take power in November, if God sees fit to keep President Trump in office , along with majorities in the House and Senate, this anarchy will cease immediately because the president will make it so. Law and Order!
Overnight Tuesday, three people were shot, 2 killed in Kenosha. More looting, more burning…Now, BLM is confronting “privileged white folks” in restaurants demanding their racial bullshit. These are the true racists in our country, all of them encouraged by the Democrats by their lack of action against this anarchy. Time to stand up and tell them to fuck-off. Hold your ground, stand up for freedom and justice.
NBA teams are boycotting their scheduled games as a result of the Kenosha, Wi shooting. Does anyone care? Does anyone watch professional basketball? Professional sports is NOT the platform in which you share your political opinions. No one cares what you prima donnas think. Keep your mouth shut and dribble.
Geoge Floyd’s Death
George Floyd died from an overdose of fentanyl, according to the Medical Examiner report on Thursday. We have had three months of anarchy, chaos, looting, murder, arson, destruction of personal property ALL because people were encouraged to react prior to having access to ALL the facts. The same situation is happening in Kenosha, Wi. right now; without knowledge of the facts.
What we do know is the “victim” had an outstanding warrant for sexual assault and he admitted he was reaching into his car for a knife. BLM and Antifa want nothing more than chaos and the destruction of our Republic. Fuck them
As an American citizen, how do you want our country to move forward for you and your family:
SECURE BORDERS? OPEN BORDERS?
MORE GOVERNMENT? LESS GOVERNMENT?
A STRONG MILITARY? A WEAK MILITARY?
LESS TAXATION? MORE TAXATION?
LESS GOVERNMENT REGULATION? MORE GOVERNMENT REGULATION?
FAIR TRADE AGREEMENTS? QUID PRO QUO TRADE AGREEMENTS?
PROPER CARE FOR OUR VETERANS? DON’T CARE FOR OUR VETERANS?
MERIT BASED IMMIGRATION? THE SHIT WE HAVE NOW?
RESPONSIBLE HELP FOR THE POOR? THROW MONEY AT THE PROBLEM?
TEACH AMERICAN HISTORY TO OUR CHILDREN? ERASE AMERICAN HISTORY?
RESPECT OUR FLAG? DON’T GIVE A SHIT?
SAY THE PLEDGE OF ALLEGIANCE IN SCHOOL? WHAT IS THAT?
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform XX Entitlement Reform
Business Tax Reform XX Education Reform X
Healthcare Reform Veterans Administration Reform X
Rebuild our Military X Trade Reform X
Secure our Borders (The Wall) XX Lead the world from the front XX
Help for the poor XX Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS XX Extreme Vetting XX
Conservative Supreme Court nominees XX American Jobs XX
I will track these campaign promises and will check them off as each is accomplished adding those I have missed as they become apparent. This is quite an agenda and will be difficult to achieve all in one term, but I believe the American people are behind him and know these things need to be done. Now, if he can get our legislators to support him instead of fighting him….
“MAKE AMERICA GREAT AGAIN”
“KEEP AMERICAN 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.”