Small Business Optimism Reaches Historic Level
Small business optimism reaches historic level, according to the National Federation of Independent Business (NFIB) Small Business Optimism Survey, which rose 3.0 points in May, reaching the second highest level in the 45 year history of the survey. Wells Fargo
US Stainless Steel Prices Rose
Stainless steel prices in the US rose this month due to higher surcharges, with market participants broadly in agreement that mills will implement a July base price increase. AMM
US Raw Steel Production Eased Last Week
US raw steel production eased 0.1 percent last week as mills operated at an ACUR of 74.8 percent. In the corresponding week last year mills operated at an ACUR of 74.9%. Thus far this year mills have produced prox 40,000,000 tons slightly above the prox 39,600,000 tons produced in the like period last year.
I don’t understand what’s going on out there. The mills continue to raise prices, but production is going backwards. Why? To create supply issues? Because orders have fallen off?
The effects of auto tariffs on American consumers and US inflation should be limited. Canada and Mexico are the trading partners with the most to lose from US tariffs on automobiles. Wells Fargo
Short Term Interest Rates Rise
The Federal Reserve Bank, on Wednesday, raised short term interest rates by a quarter of a point (.25%). There will likely be two more hikes this year.
Business Inventories Increased
Business inventories increased 0.3 percent in April amid steady sales. The recent improvement in the inventory-to-sales ratio justifies a return to trend growth in inventories this year, which will offer a slight boost to GDP. Wells-Fargo
Empire State Manufacturing Continued to Grow
The Federal Reserve Bank of New York released its Empire State Manufacturing Survey and reports business activity continued to grow, according to firms responding to the June 2018 survey. General business conditions climbed 5 points, indicating a faster pace of growth than in May. Both the new orders index and the shipments index showed ongoing solid growth.
President Trump met with North Korean leader Kim Jong Un in Singapore over the weekend. He presented ideas to Kim on the value of a change in the way his country is operated…from a constricted and repressive dictatorship to a free and vibrant economy. They ended with an agreement to begin the process of denuclearization.
Mr. Jong Un liked the idea presented to him and must certainly see the value of freedom and economic prosperity for his people.
Naturally, the Democrats are deriding the summit, complaining that nothing was accomplished, complaining that Trump gave away too much (he gave away nothing). What a useless and ridiculous argument they present. The Democrats have nothing good to offer the American people. No ideas for prosperity, no ideas on education, no ideas on security, no ideas on healthcare, no ideas on infrastructure. Nothing, zero, as Hillary would say “a big nothing burger” …that is exactly what you will get if the liberal Democrats take control of the Congress in November.
DeNiro Good Fella Gone Bad
Robert DeNiro has become a complete idiot…from Good Fella to Bad Fella. Sad, very sad.
Inspector General Report on FBI HRC Probe Released
The Inspector General released his much-awaited report on the “‘investigation into the Hillary Clinton email scandal. Though the media is saying the report absolves the FBI and DOJ of “bias,” that is far from the truth. It very carefully states that
our review did not find DOCUMENTARY OR TESTIMONIAL EVIDENCE directly connecting the political views these employees expressed in their text messages to the specific investigative decisions we reviewed.”
Put another way, he never caught anyone writing down: Let’s start this Trump investigation so we can help Hillary win. From an opinion piece by Kimberly Strassel in the 6/15/18 Wall Street Journal
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.”