Expansion Still Has Plenty of Fuel in the Tank
The expansion still has plenty of fuel in the tank, according to the Monthly Economic Outlook from the Wells Fargo Economics Group.
The advance 2nd qtr GDP data not only showed the economy grew solidly in the 2nd qtr but also showed that income growth has been much stronger over the past few years, which means the expansion has much more fuel in the tank than previously thought. Real GDP grew at a stout 4.1 percent pace during the 2nd qtr. Moreover, the underlying details were even stronger than that blowout number, with real final sales surging at a 5.1 percent annual rate as inventories were drawn down sharply.”
US Drill Rigs Running Dropped Last Week
The number of drill rigs running in the USA dropped by four last week to 1,044, led by West Virginia, down three. Canadian drilling was unchanged at 223, week on week. AMM
US Raw Steel Production Slipped Last Week
US raw steel production slipped 0.4% last week as mills operated at an ACUR of 78%. In the corresponding week last year mills operated at an ACUR of75.2%. Thus far this year mills have produced prox 55,000,000tons compared to the prox 54,000,000 tons produced in the like period last year.
Wells Fargo Small Business Survey: Q3-2018
Various measures of small business confidence began to turn up in late 2016 (November 8, the day after the election-rb) and have remained strong ever since. The most recent survey results suggest the economy’s strong second quarter momentum, which saw real GDP surge at a 4.1 percent pace, should carry over into the second half of the year.
The latest Wells Fargo/Gallup Small Business Survey showed overall Small Business Optimism surged 12 points in the third quarter and put Small Business Optimism at its highest level in the 15-year history of the survey. Both perceptions about the current state of business and expectations for future conditions rose to new highs during the quarter.
This is what I am talking about folks. Things are good now and the outlook is fantastic. Everyone needs to be made aware of the good things the Trump administration is doing for our country, that means you and I must spread the news. I implore you to share this news with everyone…left, right, middle. We must have an overwhelming victory in November to continue this prosperous path.
Potomac Watch Excerpt
The following is excerpted from an August 5, 2018 opinion article by Kimberly A. Strassel in her Potomac Watch column of the Wall Street Journal:
If the Trump administration announces its largest regulatory effort to date while the president is in the throes of a Twitter rampage, will anyone pay attention?}
NO, and thereon may lie hang the balance of Republican congressional control…what is clear is that this White House is doing an able job of whiffing one of the best political messages in decades, a reality that is demoralizing administration insiders and GOP candidates alike.
The following are just a few pieces of news out of Washington, all of which hold enormous promise for Americans.
-The EPA and Transportation Dept released a plan to ax the Obama administration’s car emission standards, saving consumers $500 billion. Dollar wise, it could be the biggest deregulation ever.
-The Treasury has recommended rescinding the “payday lending” rule, which threatens to cut-off the poorest Americans from viable credit.
-The Interior Dept proposed the first real reforms to the Endangered Species Act in decades, offering hope to tens of thousands of landowners.
-The national Labor Relations Board (NLRB) is revisiting a 2014 decision that allowed unions to poach employer email systems, part of the board’s plan to review any case that overruled precedent in the name of Obama backers.
-The Internal Revenue Service (IRS) lifted a political threat to nonprofits by allowing them to shield the names of their donors.
-The Department of Health and Human Services finalized its rule allowing more non-Obamacare insurance options to millions of Americans.
-The Senate sent a $717 billion defense authorization bill to the White House, increasing active duty strength and providing troops their largest pay raise in nine years.
-The Senate also confirmed the 24th Trump circuit-court judge.
-The Labor Dept released new numbers showing worker compensation increased 2.8% year over year, the fastest pace in a decade.
-Average home values are rising at twice that pace.
–Unemployment is at record lows.
–Second Quarter economic growth came in at 4.1%
If all of this sounds wonderful, it is, though many Americans have heard little about it. The headlines? Mr. Trump publicly lecturing his attorney general, Mr. Trump dissing Charles Koch. More about Russian collusion, more about firing Robert Mueller, China tariffs, border strife, Michael Cohen, Paul Manafort…” These are only a few of the policies this administration has instituted since day one. Trump never stops working for the American people, never. Quite frankly, his vitality and focus amaze me.
In my view everything the media focus on is a distraction, a resistance, an obstruction to the very good things this administration has done, and continues to do, for the American people. Stay informed folks. WE are the ones who must win this political battle in November, for our families, ourselves and our country.
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.”