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Consumer confidence 3D gear graphic reporting the Conference Board Consumer Confidence Index.

Consumer confidence 3D gear graphic reporting the Conference Board Consumer Confidence Index.

The Conference Board Consumer Confidence Index ticked down in June following a big gain in May and now stands at 126.4 (1985=100), down from 128.8. The Present Situation Index was relatively flat, 161.1 versus 161.2 last month, while the Expectations Index declined from 107.2 last month to 103.2 this month.

“Consumer confidence declined in June after improving in May,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of present-day conditions was relatively unchanged, suggesting that the level of economic growth remains strong.”

Consumers’ appraisal of current conditions was essentially unchanged in June.

“While expectations remain high by historical standards, the modest curtailment in optimism suggests that consumers do not foresee the economy gaining much momentum in the months ahead,” Franco added.

The percentage stating business conditions are “good” fell slightly from 38.6% to 36.0%, while those saying business conditions are “bad” also fell from 12.6% to 11.7%.

Consumers’ views of the labor market was also mixed. The percentage of consumers claiming jobs are “plentiful” ticked down from 42.1% to 40.0%, but those claiming jobs are “hard to get” also fell, from 15.6% to 14.9%.

Consumers’ optimism about the short-term outlook cooled in June.

The percentage of consumers anticipating business conditions will improve over the next 6 months declined from 23.3% to 21.4%, while those expecting business conditions will worsen increased from 7.8% to 9.8%.

However, consumers’ outlook for the labor market was slightly more favorable.

The proportion expecting more jobs in the months ahead increased somewhat from 19.7% to 20.0%, while those expecting fewer jobs declined from 13.1% to 12.6%. On short-term income prospects, the percentage of consumers expecting an improvement declined from 21.4% to 18.8%, while the proportion expecting a decrease rose from 8.0% to 8.7%.

The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen. The cutoff date for the preliminary results was June 15.

The Conference Board Consumer Confidence Index ticked down in

A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. (Photo: Reuters)

A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. (Photo: Reuters)

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index covering all 9 U.S. census divisions posted a 6.4% annual gain in April, down from 6.5%. The headline NSA from S&P Case-Shiller confirms what was seen as a spring slowdown in price gains.

“Home prices continued their climb with the S&P CoreLogic Case-Shiller National Index up 6.4% in the past 12 months,” says David M. Blitzer Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “Cities west of the Rocky Mountains continue to lead price increases with Seattle, Las Vegas and San Francisco ranking 1-2-3 based on price movements in the trailing 12 months.”

The 10-City Composite annual increase came in at 6.2%, down from 6.4% in the previous month. The 20-City Composite posted a 6.6% year-over-year gain, down from 6.7% in the previous month.

“The favorable economy and moderate mortgage rates both support recent gains in housing. One factor pushing prices up is the continued low supply of homes for sale,” Mr. Blitzer added. “The months-supply is currently 4.3 months, up from levels below 4 months earlier in the year, but still low.”

Seattle, Las Vegas, and San Francisco continue to report the highest year-over-year gains among the 20 cities. In April, Seattle led the way with a 13.1% year-over-year price increase, followed by Las Vegas with a 12.7% increase and San Francisco with a 10.9% increase. Nine of the 20 cities reported greater price increases in the year ending April 2018 versus the year ending March 2018.

“Looking back to the peak of the boom in 2006, 10 of the 20 cities tracked by the indices are higher than their peaks; the other ten are below their high points,” Mr. Blitzer continued. “The National Index is also above its previous all-time high, the 20-city index slightly up versus its peak, and the 10-city is a bit below.”

Before seasonal adjustment, the National Index saw a month-over-month gain of 1.0% in April while the 10-City and 20-City Composites reported increases of 0.6% and 0.8%, respectively. After seasonal adjustment, the National Index posted a 0.3% month-over-month increase in April. The 10-City and 20-City Composites posted 0.1% and 0.2% month-over-month increases, respectively.

“However, if one adjusts the price movements for inflation since 2006, a very different picture emerges. Only three cities – Dallas, Denver and Seattle – are ahead in real, or inflation-adjusted, terms.”

Nineteen of 20 cities reported increases in April before seasonal adjustment, while 17 of 20 cities reported increases after seasonal adjustment

“The National Index is 14% below its boom-time peak and Las Vegas, the city with the longest road to a new high, is 47% below its peak when inflation is factored in.”

The S&P CoreLogic Case-Shiller U.S. National Home

Deputy Attorney General Rod Rosenstein announces the indictment of 13 Russian nationals for election meddling among other crimes on February 16, 2018. Mr. Rosenstein noted there was "no allegation in the indictment that the charged conduct altered the outcome of the 2016 election.

Deputy Attorney General Rod Rosenstein announces the indictment of 13 Russian nationals for election meddling among other crimes on February 16, 2018. Mr. Rosenstein noted there was “no allegation in the indictment that the charged conduct altered the outcome of the 2016 election.

Deputy Attorney General Rod Rosenstein and FBI Director Christopher will testify before the House Judiciary Committee on Thursday, PPD confirmed. The “Oversight of FBI and DOJ Actions Surrounding the 2016 Election” hearing on June 28, scheduled for 1:00 p.m., will be on the bombshell findings by Inspector General Michael Horowitz.

The two men, both of whom are under scrutiny for their actions amid apparent corruption and wrongdoing at DOJ and FBI, will be grilled about their agency’s and department’s behavior ahead of the 2016 election.

House Judiciary Committee Chairman Rep. Bob Goodlatte, R-Va., called on Mr. Wray and Mr. Rosenstein to testify after Mr. Horowitz’s report was released. While Mr. Horowitz refused to more forcefully condemn either FBI or DOJ, he testified that “it’s clear” the agent at the center of the Clinton email and Russia probe cases had “a bias state of mind.”

When asked about Peter Strzok — the head of FBI counterintelligence team who conducted the investigations into Hillary Clinton and then pivoted his focus to the Russia probe — Mr. Horowitz made a more definitive admission.

“I think it’s clear from the text messages we’ve talked about that he had as we say here, a bias state of mind,” Mr. Horowitz said in response.

The highly-anticipated IG report uncovered text messages between Mr. Strzok and FBI lawyer Lisa Page, with whom he was having an affair. In one of the more damning messages, Mr. Strzok vowed to prevent Donald Trump from becoming the 45th President of the United States.

Previously obtained text messages also show the two lovers discussed needing to talk to “Andy” about an “insurance policy” in the event President Trump defeated Mrs. Clinton, a reference to then-FBI Deputy Director Andrew McCabe.

“I want to believe the path you threw out for consideration in Andy’s office — that there’s no way he gets elected — but I’m afraid we can’t take that risk. It’s like an insurance policy in the unlikely event you die before you’re 40,” Mr. Strzok wrote to Ms. Page.

Mr. Horowitz also confirmed to the Senate Judiciary Committee that the IG believed “Andy” was in fact a reference to the fired FBI deputy director, who has since been fired. The inspector general referred Mr. McCabe to the U.S. Attorney for criminal charges after concluding he lacked candor (lied) under oath.

Ms. Page, along with FBI lawyer Jim Baker, both of whom worked closely with fired former FBI director James Comey, resigned from the agency in May. Mr. Strzok has been relieved of his post as head of the counterintelligence department, and moved to Human Resources (HR).

He was reportedly willing to testify before Congress. But if he doesn’t appear willingly, Chairman Goodlatte said the committee will issue a subpoena to compel his testimony. It wasn’t until as recently as last week that Mr. Strzok was escorted out of the FBI building.

Mr. Rosenstein may also be asked about his threats to retaliate against members of Congress who are conducting oversight.

Deputy Attorney General Rod Rosenstein and FBI

The Statue of Liberty in front of Ellis Island across from New York City. (Photo: AdobeStock/UbjsP)

The Statue of Liberty in front of Ellis Island across from New York City. (Photo: AdobeStock/UbjsP)

Listen to the outrage over the treatment of migrant families illegally crossing at the southern border, and you’ll no doubt catch all the cute platitudes.

Exhibit A: “This isn’t who we are as a country.”

Exhibit B: “We’re a nation of immigrants.”

Exhibit C: “The Statue of Liberty is weeping.”

Welcome to the debate over immigration. It’s rampant with historical fiction, neglects the factual record, is heavy on emotion and lacks reason and logic. It draws a moral equivalence between border jumpers and the millions of legal immigrants who traveled to and were processed at Ellis Island.

It’s estimated that 40%, or over 100 million Americans, can trace their ancestry back to at least one man, woman, or child who legally entered the country through Ellis Island. During peak years, thousands of immigrants arrived each day.

With the exception of a long and arduous journey, the legal immigration to the U.S. in the 20th century through Ellis Island has little to nothing in common with the unfettered and illegal immigration of Central Americans through the southern border.

Since the talking heads and pundits keep referring to Ellis Island to underscore “our proud history of welcoming immigrants” to the U.S., it might be useful to remind everyone about that experience.

Rewind to the 20th century.

Immigrants arriving at Ellis Island from the Old World were greeted by the Statue of Liberty. Upon their arrival, doctors examined each and every new immigrant for contagious diseases. Naturally, this was to ensure the health of the citizenry.

If the examiner found or suspected a contagious disease such as plague, cholera, typhoid or others, then the immigrant was denied entry and promptly quarantined. Child migrants under the age of 12, were sent back with one parent. Child migrants 12-years-old or older, were sent back, alone.

Fast-forward back to 2018, and the media coverage insinuates that family separation is a new concept. It is not, and even those trying to gain legal entry could be subjected to it if warranted.

Rewinding back to the 20th century, and the obligation of the examiner was to operate in the best interest of U.S. citizens. Some may find the practice of child separation cruel, but I suspect there aren’t too many parents willing to gamble with the lives of their own children.

After the medical examination, the newly arrived immigrant went through an interrogation process. An inspector interrogated arrivals over their name, age, religion, previous residence, sex, civil status, etc. They also determined whether they had any relatives residing in the United States.

Inspectors had a very short period of time to determine if the information volunteered was even true. If they determined an arrival could pose a danger to society or if any of the information was questionable, then their stay at Ellis Island was extended.

Nevertheless, even with far more restrictive conditions, only about 2% of the millions of immigrants who passed through Ellis Island were sent back.

Fast-forwarding back to 2018, and the pompous, holier-than-thou talking heads are outraged over the policy of treating lawbreakers as such and separating them from their families upon illegal arrival. If we are going to be subjected to morally-superior but badly botched references to Emma Lazarus, then at least make sure the poem is pertinent.

“Keep, ancient lands, your storied pomp!” cries she
With silent lips. “Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!”

Nowhere does it immortalize, “Send these, the cartels, parentless kids-tost to me, I lift my open borders beside the human traffickers.” At no time during the great migrations that populated the New World were the proper ports of entry wholly ignored.

Many of the Trump Administration ‘s most vocal critics have themselves claimed to “adamantly” oppose illegal immigration. Most even supported increased levels of deportations and decreased levels of legal immigration.

These very same people — including but not limited to Senator Feinstein, Chuck Schumer, Hillary Clinton and Barack Obama — believe Americans are so easily manipulated that we are either too stupid or won’t bother to YouTube their past comments.

“You have to concentrate on saying the people who should be here are the ones who come legally,” Senator Dianne Feinstein, D-Calif., said after the American voters put her in office for the first time. “The day when America could be the welfare system for Mexico is gone. The illegal immigrants who come and commit crimes… that’s not what our nation is all about.”

This manufactured outrage is all about votes. Nothing more. Nothing less. The left truly didn’t believed President Donald J. Trump would or could ever win. They believed they finally had the numbers after years of unfettered immigration to forever change the electoral map.

Unfortunately for them, the electoral map didn’t change as fast as their tone.

Unfortunately for Democrats, the electoral map didn't

Richard "The Old Man" Harrison, the patriarch of Pawn Stars.

Richard “The Old Man” Harrison, the patriarch of Pawn Stars.

“Pawn Stars” patriarch Richard Harrison, known by family, friends and fans as “The Old Man,” died at 77 after a long battle with Parkinson’s disease. He was the eldest member of the reality TV star family, which owns and operates Gold & Silver Pawn in Las Vegas, Nevada.

“Richard Benjamin ‘The Old Man’ Harrison passed away this morning surrounded by those he loved,” his son Rick said on Instagram. “He will be tremendously missed by our family, the team at Gold & Silver Pawn and his many fans the world over.”

A veteran of the U.S. Navy, “The Old Man” put up $10,000 to open the Gold & Silver Pawn store with is son in 1988. He initially lost a million dollars in the real estate market before moving to Las Vegas. It has since grown into a multi-million dollar company and hit reality show.

“We are deeply saddened by the loss of our friend Richard ‘The Old Man’ Harrison, a beloved member of the HISTORY and @pawnstars family,” the History Channel tweeted. “He will be greatly missed for his wisdom and candor. Our thoughts are with the Harrison family during this difficult time.”

Corey, The Old Man’s grandson and Pawn Stars employee, reflected on his relationship with his grandfather.

“I was lucky enough to spend 15 years of my life working with the old man,” he said. “He wasn’t just a grandfather, he was truly a best friend as well. I’m truly blessed to have had him as a mentor.”

The hit History Channel series “Pawn Stars” premiered in 2009 and has been on the air for 15 seasons.

“He was my hero and I was fortunate to get a very cool ‘Old Man’ as my dad. That I got to share him with so many others and they got to see what a great family man he was is something I am grateful to have experienced with him,” his son Rick added. “He lived a very full life and through the History television show ‘Pawn Stars’ touched the lives of people all over teaching them the value of loving your family, hard work and humor.”

“We appreciate everyone’s thoughts and prayers and ask that we are provided some privacy at this time.”

"Pawn Stars" patriarch Richard Harrison, known by

Barronelle Stutzman, center, a Richland, Washington, florist who was fined for denying service to a gay couple in 2013, looks around as she is surrounded by supporters after a hearing before Washington’s Supreme Court, Tuesday, Nov. 15, 2016, in Bellevue, Washington. (Photo: AP file)

The U.S. Supreme Court Monday granted the appeal of a florist in Washington state who was fined after refusing to sell flowers for a gay couple’s wedding. The ruling kicks the florist’s case back to the Washington state courts “for further consideration in light” of the recent decision in another similar case out of Colorado.

The case in Washington state dates back to 2013, when Barronelle Stutzman — the owner of Arlene’s Flowers and Gifts in Richland — refused on religious grounds to provide flowers in 2013 for the wedding of two longtime customers, Robert Ingersoll and Curt Freed.

Ms. Stutzman explained that as a Southern Baptist, it would violate her religious beliefs and her “relationship with Jesus Christ.” The owner and the customers hugged and the two men left. Afterward, they began posting to social media about the exchange and activist groups seized what they believed to be an opportunity.

“Rob was my customer and friend for over nine years,” Ms. Stutzman said in a statement. “I knew he was gay, and it was never an issue. I serve everyone. He enjoyed my custom floral designs, and I loved creating them for him. I would gladly serve Rob if he were to come back to my shop today.”

“The attorney general has always ignored that part of my case, choosing to vilify me and my faith instead of respecting my religious beliefs about marriage.”

Kristen Waggoner, Senior Vice President of the U.S. Legal Division at the Arizona-based Alliance Defending Freedom, argued Ms. Stutman was “an artist with a conscience who cannot separate her artistic creativity from her soul.”

File Photo: The U.S. Supreme Court (SCOTUS). (Photo: Reuters)

File Photo: The U.S. Supreme Court (SCOTUS). (Photo: Reuters)

The Alliance Defending Freedom also represented Jack Phillips, the owner of the Denver-area Masterpiece Cakeshop and plaintiff in Hughes v. United States. In 2012, Mr. Phillips refused on religious grounds to make a custom wedding cake for Charlie Craig and David Mullins, a same-sex couple.

The Colorado Civil Rights Commission ruled Mr. Phillips’ refusal violated state discrimination laws and that he had “no free speech right” to turn down Craig and Mullins’ request.

Three weeks ago, the Court tossed out a ruling against Mr. Phillips.

By a vote of 7-2, the justices ruled the proceedings before the Colorado administrative agency that considered the baker’s case were unfairly tainted by hostility to religion.

“The U.S. Supreme Court has rightfully asked the Washington Supreme Court to reconsider Barronelle’s case in light of the Masterpiece Cakeshop decision,” Ms. Waggoner said in a statement. “In that ruling, the U.S. Supreme Court denounced government hostility toward the religious beliefs about marriage held by creative professionals like Jack and Barronelle. The state of Washington, acting through its attorney general, has shown similar hostility here.”

However, the Court skirted on whether the creation and sale of custom floral arrangements or cakes to celebrate a wedding ceremony can be considered artistic expression. If so, then the Court needs to decide whether compelling their creation violates the free speech clause; and (2) whether the compelled creation and sale is against one’s religious beliefs violates the free exercise clause.

The U.S. Supreme Court reversed a lower

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)

The U.S. Census Bureau and Department of Housing and Urban Development (HUD) released new residential sales statistics showing new home sales boomed in May. Worth noting, new home sales have broken multi-decade records under the Trump Administration, driven by elevated levels of builder confidence and construction activity.

New Home Sales

Sales of new single-family houses in May 2018 were at a seasonally adjusted annual rate of 689,000, which is 6.7% higher than the revised April rate of 646,000. It is 14.1% above the May 2017 estimate of 604,000.

Sales Price

The median sales price of new houses sold in May 2018 was $313,000. The average sales price was $368,500.

For Sale Inventory and Months’ Supply

The seasonally-adjusted estimate of new houses for sale at the end of May was 299,000. This represents a supply of 5.2 months at the current sales rate.e

New residential sales statistics show new home

Director David Lynch attends the Change Begins Within: An Historic Night of Jazz to Benefit the David Lynch Foundation event in New York City on December 13, 2012. (Photo: Reuters)

Director David Lynch attends the Change Begins Within: An Historic Night of Jazz to Benefit the David Lynch Foundation event in New York City on December 13, 2012. (Photo: Reuters)

Legendary filmmaker David Lynch told The Guardian that Donald Trump “could go down as one of the greatest presidents in history.”

“He could go down as one of the greatest presidents in history because he has disrupted the thing so much,” Mr. Lynch said. “No one is able to counter this guy in an intelligent way.”

While it’s not a popular position in Hollywood or celebrity circles, the man behind “Twin Peaks,” “Mulholland Drive,” and “The Elephant Man” said it took an outsider like President Trump to move the country forward.

“Our so-called leaders can’t take the country forward, can’t get anything done,” he added. “Like children, they are. Trump has shown all this.”

Mr. Lynch claimed that he didn’t remember who he voted for during the 2016 presidential election, but added that he voted for Sen. Bernie Sanders over Hillary Clinton in the Democratic primary.

The PPD U.S. Presidential Election Daily Tracking Poll in 2016 found significant percentages of liberal voters — roughly 15% to 18%, depending on the battleground state — who backed Senator Sanders over Mrs. Clinton, in fact voted for President Trump in November.

“I am not really a political person, but I really like the freedom to do what you want to do,” he said.

[caption id="attachment_69981" align="aligncenter" width="1200"] Director David Lynch

Matt Flynn, a former Wisconsin Democratic state party chairman and current gubernatorial candidate, slammed his own party recently. He said the Democratic Party “is pickled in identity politics and victimology.”

“There is no assimilation of the party anymore.”

A majority of Americans voters agree with that assessment of the Democratic Party.

A new Rasmussen Reports survey finds 51% of likely voters see the Democratic Party as “pickled in identity politics and victimology.”

Even 44% of Democrats agree with Mr. Flynn, and another 24% of Democrats are undecided. Thirty-two percent (32%) don’t agree, but most Republicans (56%) and unaffiliated voters (53%) do.

Worth noting, with 56% agreeing with that statement, black voters are more likely than whites (50%) or voters of another race to agree (50%). A whopping 60% of men agree juxtaposed to 43% for women.

Meanwhile, nearly 8 in 10 (78%) likely voters in the U.S. believe “most politicians these days” are “more interested in campaigning on what divides us” rather than “on what brings us together.” Only 11% believe most politicians campaign on what brings us together, and another 12% are unsure.

The survey of 1,000 Likely U.S. Voters was conducted on June 19-20, 2018 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. See methodology.

A new poll finds a majority of

The Chicago Fed National Activity Index (CFNAI) was –0.15 in May, down from +0.42 in April and way below the 0.37 consensus forecast. Two of the four broad categories of indicators that make up the index decreased from April, and two of the four categories made negative contributions to the index in May.

The index’s three-month moving average, CFNAI-MA3, decreased to +0.18 in May from +0.48 in April.

The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.10 in May from +0.23 in April. Thirty-nine of the 85 individual indicators made positive contributions to the CFNAI in May, while 46 made negative contributions. Forty-three indicators improved from April to May, while 42 indicators deteriorated. Of the indicators that improved, 17 made negative contributions.

[pdfviewer width=”740px” height=”849px” beta=”true/false”]https://www.peoplespunditdaily.com/wp-content/uploads/2018/06/cfnai-june2018-pdf.pdf[/pdfviewer]

The Chicago Fed National Activity Index (CFNAI) was –0.15

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