Construction Spending Fell 0.8% During May

Construction spending fell 0.8% during May and broad-based declines overshadow upward revisions to prior months’ spending. Residential remains weak while public spending continues to boost nonresidential. Wells Fargo

The Institute for Supply Management June 2019 Report on Business

The report shows economic activity expanded in June and the overall economy grew for the 122nd consecutive month according to the nation’s supply executives.

The report was issued by Timothy R. Fiore, CPSM, CPM, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee:

The June PMI registered 51.7%, a decrease of 0.4 percentage point from the May reading . The New Orders Index decreased 2.7 points, the Production Index increased 2.8 percentage points, the Employment Index increased 0.8 percentage point. The Inventories Index dropped a modest 1.8 percentage point.”

Comments from the panel reflect continued expanding business strength, but at softer levels; June was the third straight month with slowing PMI expansion.”

Economic Growth is Forecast to Slow This Year

According to participants in the Chicago Fed‘s annual Automotive Outlook Symposium (AOS), the nation’s economic growth is forecast to slow this year and then moderate close to its long-term average in 2020. Inflation is expected to decline in 2019 and edge higher in 2020. The unemployment rate is anticipated to move down to 3.6% by the end of 2019 but then tick back up next year.

Light vehicle sales are predicted to decrease from 17.2 million units in 2018 to 16.8 million units in 2019 and then to 16.6 million units in 2020.

US Drill Rigs Running Unchanged from Last Week

There were 967 drill rigs running in the US as of this update. No change from last week. Meanwhile Canadian drilling increased by 5 rigs to 124.

US Raw Steel Production Last Week at ACUR 79.5%

In the week ending June 29 US raw steel production was 1,851,000 tons at an ACUR of 79.5 percent. Thus far this year mills have produced prox 48,611,000 tons compared to the prox 46,103,000 tons 46,103,000 tons produced in the like period last year.

…”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

As you can see …

Oh, say can you see by the dawn’s early light
what so proudly we hailed at the twilight’s last gleaming?
Whose broad stripes and bright stars thru the perilous fight,
O’er the ramparts we watched were so gallantly streaming?
And the rocket’s red glare, the bombs bursting in air,
Gave proof through the night that our flag was still there.
Oh say does that star-spangled banner yet wave
O’er the Land of the Free and the Home of the Brave?

Be thankful and proud that you live in this wonderful country. We are free to choose, free to achieve, free to work and free to play. If you see an American Veteran on Independence Day, thank them for what you are able to enjoy as an American, for it is by their sacrifices and those made by the men and women of our armed forces over the past 243 years that have guaranteed these right which so many take for granted. God bless the United States of America.

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”

and

“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.”</blockquote