Consumer Confidence Index Improved
The Conference Board Consumer Confidence Index improved in May, following an increase in April.
Consumer confidence posted another gain in May and is now back to levels seen last fall when the index was hovering near 18-year highs.” Said Lynn Franco, Senior Director of Economic Indicators at the Conference Board.
US Drill Rigs Running Down 4 From Previous Week
There were 983 drill rigs running in the US last week, down four from the previous week, meanwhile, Canadian drilling increased by 15 rigs to 78.
US Raw Steel Production at ACUR 81.3%
In the week ending 5/25 US raw steel production was 1,892,000 tons at an ACUR of 81.3 percent. Thus far this year mills have produced prox 39,417,000 tons compared to the prox 37,033,000 tons produced in the like period last year.
Fifth District Manufacturing Activity Moderate in May
The Federal Reserve Bank of Richmond released its Fifth District Manufacturing Survey for May 2019 and reports manufacturing activity was moderate in the month. The composite index inched up as shipments and new orders held fairly flat. Firms reported growth in spending and positive overall business conditions and remained optimistic about growth in the coming months.
Texas Manufacturing Activity Continued to Expand in May
The Federal Reserve Bank of Dallas released its Texas Manufacturing Outlook Survey and reports activity continued to expand in May, albeit at a slower pace, according to business executives responding to the survey. The production index fell and most other measures of manufacturing activity also suggested slower expansion in the month.
Q1 GDP Reports 3.1% Growth
The Bureau of Economic Analysis (BEA) released its “second” estimate of Q1 GDP and reports the US economy grew at a 3.1 percent annual rate. The “first” or “advance” estimate of Q1 GDP growth was 3.2 percent. The “third” and final estimate will be released around this time next month with more complete information.
Midwest Economy Index Decreased
The Midwest Economy Index (MEI) decreased to -0.04 in April from +0.21 in March. Contributions to the April MEI from three of the four broad sectors of nonfarm business activity and all five Seventh Federal Reserve District states decreased from March…
We knew going into today’s report that last months increase in personal spending was the biggest sequential increase (+0.9%) in about a decade. What is remarkable here is that not only did that number get revised higher, to +1.1%, but the April increase of 0.3% still came in stronger than expected, even after accounting for a decline in spending on autos.
Typically when you get a big monthly surge it is followed by a payback in the next month. The back-to-back gains here mark the largest two-month pickup in over seven years.” Wells Fargo
…”one had to concern oneself with the rational, not the insane-that one had to seek that which was right, because the right answer always won-that the senseless, the wrong, the monstrously unjust could not work, could not succeed, could do nothing but defeat itself.” Ayn Rand
Bob Mueller’s Public Statement
The Shit Show will continue: Bob Mueller made a public statement on Wednesday in which he said he found no collusion by the Trump administration and the Russians, that the Russians tried in several ways to tamper with our election and the American people should be aware of that. He also said that he would not exonerate the president (his job is to charge with a crime or not-only) of obstruction, that he would leave it to the Congress. He outlined or alluded to NO crime. But the Democrats, ahhh, the Democrats, seized on this as an opportunity to begin impeachment proceedings…but for WHAT CRIME? This really is a shit show.
Our Congress is worried about impeachment (which can go nowhere), open borders, welfare, housing and medical attention for illegals, the climate, letting children, felons and illegals vote, etc. etc. while the world around us is on fire. Thank God we have a Commander-in-Chief trying his best to handle and solve REAL life problems, domestically and internationally. If only he could get our legislators to work with him to effect positive change.
Bart Starr’s Passing
We lost another good guy this Memorial Day weekend with the passing (no pun intended) of the great Bart Starr who died Sunday at 85 years of age. In his career Mr. Starr led the Green Bay Packers to five championships. A true class man. RIP
Immigration & Tariffs
Here we go again: The president will levy a 5% tariff on any item coming into the USA from Mexico on June 10-IF THE MEXICAN GOVERNMENT FAILS TO STOP THE INFLOW OF ILLEGALS COMING FROM MEXICO INTO THE UNITED STATES. The poor bastard is getting ZERO help from the Congress to stop this problem. What is it people want him to do? Just open our borders to anyone who cares to cross the border? It is pure insanity that he is forced to do this because his own legislators will not act. I say BRAVO to President Trump. Fuck these illegals and fuck these swamp creatures who look out for themselves and their selfish aspirations only. WAKE UP PEOPLE, THE WOLVES ARE AT THE DOOR…
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”
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.”</blockquote