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Elections

A supporter of Donald Trump dons a T-shirt with a new twist on an old joke targeting Hillary Clinton during a rally in Tampa, Florida on Tuesday, July 31, 2018. (Photo: Laura Baris/People's Pundit Daily)
A supporter of Donald Trump dons a T-shirt with a new twist on an old joke targeting Hillary Clinton during a rally in Tampa, Florida on Tuesday, July 31, 2018. (Photo: Laura Baris/People’s Pundit Daily)

Governor Ron DeSantis announced on Twitter he has suspended Susan Bucher as Palm Beach County Supervisor of Elections, effectively immediately.

“Today, we turn our attention to the need to restore faith in our elections processes here in Florida,” he tweeted. “During the 2018 General Election, Florida had 65 out of 67 counties that ran good elections.”

“Supervisor Bucher demonstrated she was unable to comply with the laws of our state and her duties as the Supervisor of Elections and failed to accurately report information related to the number of ballots that had been cast,” he added. “For these reasons, I am suspending Susan Bucher as Palm Beach County Supervisor of Elections, effective immediately.”

Governor DeSantis defeated Democrat Andrew Gillum last November, a race only the PPD Election Projection Model accurately predicted. Per state law, the margin triggered an automatic machine recount, resulting in a margin of victory of 33,683 votes, a loss of 1 vote for the victor.

Palm Beach County and Broward County repeatedly violated state election laws on Election Day and in the days following the election, failing to report vote totals and categories by deadlines as is require.

Florida state laws were passed on a bipartisan basis following the 2000 presidential election, and are designed to raise red flags for voter fraud.

“It is time to turn the page in Palm Beach County to ensure accountability and transparency from our elections officials.”

Governor Ron DeSantis has suspended Susan Bucher

Economy

Consumer Spending and Consumer Sentiment. (Photo: AP)
Consumer Spending and Consumer Sentiment. (Photo: AP)

The Survey of Consumers in January posted its lowest reading since Donald Trump was elected President of the United States. The preliminary reading on consumer sentiment came in at 90.7, way below the 97.0 consensus forecast.

The Current Economic Conditions fell from a final reading of 116.1 in December to 110.0 in January. The index is only slightly down from 110.5 measured this month one year ago.

“Consumer sentiment declined in early January to its lowest level since Trump was elected. The decline was primarily focused on prospects for the domestic economy, with the year-ahead outlook for the national economy judged the worst since mid 2014,” Richard Curtain, chief economist for the Survey of Consumers, said.

“The loss was due to a host of issues including the partial government shutdown, the impact of tariffs, instabilities in financial markets, the global slowdown, and the lack of clarity about monetary policies.”

The Index of Consumer Expectations, which was presenting the warning signs, fell from 87.0 the month prior to 78.3. That’s also down from the 86.3 one year ago.

“Aside from the direct economic impact from these various issues on the economy, the indirect effect meant that half of all consumers believed that these events would have a negative impact on Trump’s ability to focus on economic growth,” the economist added.

In 2018, the Survey of Consumers posted its strongest yearly average for consumer sentiment in 18 years. Over the past half century, sentiment was higher in only two other time periods: 1964-65 and 1997-2000.

“While the January falloff in optimism is certainly consistent with a slowdown in the pace of growth, it does not yet indicate the start of a sustained downturn in economic activity,” Mr. Curtain continued. “It is the strength in personal finances that will continue to support consumption expenditures at favorable levels in 2019.”

Mr. Curtain noted that those periods correspond to the two longest prior periods of economic expansions since the mid 1800’s. If it continues for another five months, those records will be broken.

“Nonetheless, consumers now sense a need to buttress their precautionary savings, which is typically done by reducing their discretionary spending,” he concluded. “Evolving job and wage prospects, which were slightly weaker in early January, are critical to extending the current expansion.”

The preliminary reading on consumer sentiment for

Economy

Manufacturing Output Posted the Largest Gain Since February 2018

Industry production 4.0 and technology concept, depicting factory production on a conveyor belt with factory operational workers in uniform. (Photo: AdobeStock)
Industry production 4.0 and technology concept, depicting factory production on a conveyor belt with factory operational workers in uniform. (Photo: AdobeStock)

Industrial production rose 0.3% in December after increasing by 0.4% in November, meeting the consensus forecast.

For the fourth quarter (Q4), total industrial production has risen at an annual rate of 3.8%.

In December, manufacturing output gained a solid 1.1%, its largest gain since February 2018. The output of mines also rose solidly at 1.5%.

However, warmer-than-usual temperatures lowered the demand for heating, pushing down the index for utilities by a whopping 6.3%.

At 109.9% of its 2012 average, total industrial production was still 4.0% higher in December than it was a year earlier.

Capacity utilization for the industrial sector rose 0.1 percentage point in December to 78.7 percent, a rate that is 1.1 percentage points below its long-run (1972–2017) average.

Industrial production rose 0.3% in December after

Economy

Manufacturing Business Outlook Survey Tops Forecast Range

A manufacturing assembly line at the Heinz factory in Pittsburgh, Pennsylvania. (Photo: Courtesy of Heinz)
A manufacturing assembly line at the Heinz factory in Pittsburgh, Pennsylvania. (Photo: Courtesy of Heinz)

The Philadelphia Federal Reserve’s Manufacturing Business Outlook Survey indicated a clear acceleration in factory activity for the Mid-Atlantic. The general activity indicator came in at 17, beating the consensus forecast and exceeding the highest end of the range.

The consensus forecast was expecting a reading of 10.0, and forecasts ranged from 6.1 to 14.0.

Last month, the index showed some deceleration, as have other region factory activity surveys. For nearly two years, the concern has been overheating and analysts will look to the next few months for balance.

Earlier this week, the Empire State Manufacturing Survey barely indicated growth.

Overall, more than 30% of the manufacturers reported increases in activity, while 13% reported decreases. The new orders index increased 8 points to 21.3, the highest reading in 6 months.

The Philadelphia Federal Reserve's Manufacturing Business Outlook

Economy

U.S. jobless claims graph on a tablet screen. (Photo: AdobeStock)
U.S. jobless claims graph on a tablet screen. (Photo: AdobeStock)

The Labor Department (DOL) said jobless claims fell another 3,000 to a seasonally adjusted 213,000, easily beating the forecast. The 4-week moving average declined by 1,000 to 220,750.

Forecasts ranged from 219,000 to 225,000, with a consensus of 221,000.

The advance seasonally adjusted insured unemployment rate was unchanged at a very low 1.2% for the week ending January 5. The advance seasonally adjusted number for insured unemployment during the week ending January 5 was 1,737,000, an increase of 18,000.

The previous week’s level was revised down by 3,000 from 1,722,000 to 1,719,000.

The 4-week moving average came in at 1,728,500, an increase of 8,000 from the previous week’s revised average. The previous week’s average was
revised down by 750 from 1,721,250 to 1,720,500.

Worth noting, there were 13,498 former federal civilian employees claiming unemployment insurance benefits for the week ending December 29, a gain of 2,123 from the previous week.

It is highly likely this is the early result of the extended partial government shutdown.

Still, no state was triggered “on” the Extended Benefits program during the week ending December 29.

The highest insured unemployment rates in the week ending December 29 were in Alaska (3.4), Connecticut (2.9), New Jersey (2.7), Rhode Island (2.5), Montana (2.4), Massachusetts (2.3), Minnesota (2.3), Pennsylvania (2.2), California (2.1), and Washington (2.1).

The largest increases in initial claims for the week ending January 5 were in New York (+26,297), Georgia (+10,798), Texas (+3,815), South Carolina (+3,280), and Alabama (+3,003), while the largest decreases were in New Jersey (-8,016), Ohio (-5,701), Michigan (-4,830), Iowa (-3,575), and Massachusetts (-3,429).

The Labor Department (DOL) said jobless claims

Video

On this episode of Liberty Never Sleeps, Tom explains how Donald Trump is driving the Left nuts with the shutdown, and how he can use that to his advantage.

*Ocasio The Bloody
*The SOTU address
*The Sky is Falling with Government
*Sick Migrants
*Giuliani’s Comment

Closing Music on podcast provided by The Dead Cat Bounce*

Bumper Music:

Barracuda- Heart
We’ve Got a World that Swings- Jerry Lewis
You Might Think- The Cars
Summer Breeze- Seals And Croft
It’s Still Rock And Roll To Me- Billy Joel

On this episode of Liberty Never Sleeps,

Economy

Inventory Growth, Interest Rates Fuel Sharp Gains for Second Straight Week

A graphic concept depicting a young family and a mortgage application for a home. (Photo: AdobeStock)
A graphic concept depicting a young family and a mortgage application for a home. (Photo: AdobeStock)

The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey finds applications increased 13.5% for the week ending January 11, 2019. The Market Composite Index is now at its highest level since February 2018.

The seasonally adjusted Purchase Index increased 9% from one week earlier to its highest level since April 2010. The unadjusted Purchase Index increased 43% compared with the previous week and was 11% higher than the same week one year ago.

“Mortgage applications rose to their strongest level in years last week, with purchase applications rising to the highest since 2010, and refinance applications up to their highest level since last spring,” said Mike Fratantoni, MBA Senior Vice President and Chief Economist. “Uncertainty regarding the government shutdown, slowing global growth, Brexit, a more patient Fed, and a volatile stock market continued to keep rates from increasing.”

On an unadjusted basis, the Index increased 45% compared with the previous week. The Refinance Index increased 19% from the previous week to its highest level since March 2018.

“The spring homebuying season is almost upon us, and if rates stay lower, inventory continues to grow, and the job market maintains its strength, we do expect to see a solid spring market,” Mr. Fratantoni added. “The 11% gain in purchase volume compared to last year is a promising sign.”

The refinance share of mortgage activity rose to the highest level since January 2018, at 46.8% of total applications. That’s up from 45.8% the previous week. The adjustable-rate mortgage (ARM) share of activity rose to its highest level since October 2014, at 9.2% of total applications.

The average loan size for refinance applications reached a survey high at $353,100.

“Borrowers with larger loans tend to be more responsive to a given drop in mortgage rates, and we are seeing that so far in 2019,” Mr. Fratantoni also noted. “Furthermore, borrowers with jumbo loans are also more apt to take adjustable-rate mortgages as opposed to fixed-rate loans. Thus, it is not surprising to see the ARM share at its highest level since 2014.”

“These borrowers may also feel more confident taking an adjustable-rate mortgage given the expectation of a more patient Fed.”

The FHA share of total applications rose slightly from 10.3% the week prior to 10.9%. The VA share of total applications fell to 10.4% from 11.6%. The USDA share of total applications also ticked down marginally to 0.5% from 0.6%.

Average Rates

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) remain unchanged at 4.74 percent, with points decreasing to 0.45 from 0.47 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last
week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) increased to 4.53 percent from 4.52 percent, with points increasing to 0.31 from 0.28 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.76 percent from 4.70 percent, with points increasing to 0.52 from 0.47 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to its lowest level since April 2018, 4.13 percent, from 4.16 percent, with points increasing to 0.45 from 0.35 (including the origination fee) for 80 percent LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 5/1 ARMs increased to 4.08 percent from 4.05 percent, with points remaining unchanged at 0.32 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

Mortgage Bankers Association (MBA) Press Release

The MBA Weekly Mortgage Applications Survey rose

Video

On this episode of Liberty Never Sleeps, host Thomas Purcell discusses how liberalism causes more problems than it solves.

*Little Salad Jokes
*Being the Problem Not the Solution
*Appointing Idiots
*Here They Come Again
*California Mudslides

Liberty Never Sleeps Banner

Closing Music on podcast provided by The Dead Cat Bounce*

Bumper Music:

Cool Change- Little River Band
The Gambler- Kenny Rogers
Owner of a Lonely Heart- Yes
Sweet Home Alabama- Lynrd Skynrd
A Cowboy’s Work is Never Done- Sonny and Cher
We Don’t Need Another Hero- Tina Turner

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On this episode of Liberty Never Sleeps,

Politics

William "Bill" Barr served as the 77th Attorney General of the United States and was nominated to serve as the nation's top cop again by President Donald Trump on December 7, 2018.
William “Bill” Barr served as the 77th Attorney General of the United States and was nominated to serve as the nation’s top cop again by President Donald Trump on December 7, 2018.

On December 7, 2018, President Donald Trump announced that he would nominate William “Bill” Barr to replace Jeff Sessions as Attorney General. Mr. Barr served as the 77th U.S. Attorney General from 1991 to 1993, under George H.W. Bush.

Democrats on the Senate Judiciary Committee are demanding concessions and commitments from the nominee, even though the party has a decades-long history of supporting him.

In August 1991, Mr. Barr took over the Justice Department (DOJ) as Acting Attorney General after Richard Thornburgh resigned to campaign for the U.S. Senate.

Only 3 days later, 121 Cuban inmates awaiting deportation to Cuba seized 9 hostages at Talladega federal prison. He directed the FBI’s Hostage Rescue Team to assault the prison and end the hostage crisis.

The result was a best-case scenario, with agents rescuing all hostages without loss of life. Mr. Barr cites this decision as his greatest accomplishment at DOJ, and it earned him bipartisan praise.

President H.W. Bush was impressed with his management of the hostage crisis and, a few weeks later, nominated him to be the nation’s top cop.

The LA Times called his two-day nomination “unusually placid” because he was supported by both Republicans and Democrats on the Senate Judiciary Committee.

The committee, which is now led by Chairman Lindsey Graham, R-S.C., and Ranking Member Dianne Feinstein, D-Calif., approved his nomination unanimously by a vote of 14 to 0.

Joe Biden, who chaired the committee at the time, said Mr. Barr showed a “commitment to the public interest above all else.”

“You’re going to be a good Attorney General,” then-Chairman Biden said at the hearing. “You’re sharp, you’re smart.”

He was confirmed by voice vote by the full U.S. Senate just 36 days after the nomination was announced, and was sworn in as Attorney General on November 26, 1991.

Senate Minority Leader Chuck Schumer, D-N.Y., then-chairman of the House Crime and Criminal Justice Subcommittee, also praised the man his members now want to back into a corner.

“Mr. Barr has proven to be a capable deputy attorney general. He did a good job of helping run the department in troubled times.”

Senator Patrick Leahy, D-Vt., still a member of the Senate Judiciary Committee, not only praised Mr. Barr but said he would be “an independent voice for all Americans – not just the President.”

Worth noting, that is precisely the issue Democrats are now raising, demanding he commit under oath and penalty of perjury.

Senate Judiciary Committee Democrats are now demanding

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