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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 showed Mid-Atlantic factory activity cooled in July, but remained strong. The index came in at a strong 19.5, though lower than the 22.0 median economic forecast.

But data indicating future weakness are masked by the headline number. While the Manufacturing Business Outlook Survey has been positive for 12 straight months, July’s reading is the lowest since President Donald J. Trump was elected in November.

The new orders index, at 2.1, fell more than 20 points in the month for the worst reading since August last year. Nearly 31% of respondents reported a rise in new orders this month, down from 45% in June.

The unfilled orders index showed continued strength at 7.2, the employment index came in at 10.9, and selling prices at 9.0. But all three are at their weakest since December.

Manufacturing Business Outlook Survey

Source: Philadelphia Federal Reserve Manufacturing Business Outlook Survey of Mid-Atlantic factory activity.

The shipments index came in at a strong 12.2, but it’s the lowest rate of growth since September 2016. The workweek, still positive at 3.8, was the lowest since November.

The Philadelphia Federal Reserve's Manufacturing Business Outlook

Weekly Jobless Claims Graphic. Number of Americans applying for first-time jobless benefits.

Weekly Jobless Claims Graphic. Number of Americans applying for first-time jobless benefits.

The Labor Department (DOL) said Thursday initial jobless claims fell sharply and far more than expected for the week ending July 15, 2017.  The advance figure for seasonally adjusted initial claims was 233,000, a decline of 15,000 from the previous week’s revised level and much stronger than the 246,000 forecast.

No state was triggered “on” the Extended Benefits program during the week ending July 1 and no special factors influenced the data.

The four-week moving average–widely considered a much less volatile gauge–came in at 243,750, a decline of 2,250 from the previous week’s revised average.

The highest insured unemployment rates in the week ending July 1 were in Puerto Rico (3.0), New Jersey (2.5), Alaska (2.3), Connecticut (2.3), Pennsylvania (2.2), Rhode Island (2.0), California (1.9), Massachusetts (1.9), Illinois (1.7), and New York (1.7).

The largest increases in initial claims for the week ending July 8 were in New York (+13,871), Michigan (+8,645), Kentucky (+6,213), Ohio (+4,624), and Puerto Rico (+3,551), while the largest decreases were in California (-8,217), Missouri (-2,773), Massachusetts (-2,000), New Jersey (-1,838), and Connecticut (-1,794).

The Labor Department said Thursday initial jobless

Sen. John McCain, R-Ariz., speaks to reporters at the U.S. Capitol in Washington, May 10, 2017. (Photo: AP)

Sen. John McCain, R-Ariz., speaks to reporters at the U.S. Capitol in Washington, May 10, 2017. (Photo: AP)

Sen. John McCain, R-Ariz., was diagnosed with cancer after doctors at the Mayo Clinic Hospital in Phoenix found a brain tumor during surgery. On Friday, July 14, the 80-year-old senator had a nearly 2-inch blood clot removed from his left eye.

“Subsequent tissue pathology revealed that a primary brain tumor known as a glioblastoma was associated with the blood clot,” the hospital said in a statement. “The Senator and his family are reviewing further treatment options with his Mayo Clinic care team. Treatment options may include a combination of chemotherapy and radiation.”

According to his office, Sen. McCain is “in good spirits as he continues to recover at home with his family in Arizona.” Senate Majority Leader Mitch McConnell said a vote on health care would be delayed until Mr. McCain recovered, but now it’s unclear when that will be.

“Further consultations with Senator McCain’s Mayo Clinic care team will indicate when he will return to the United States Senate,” his office said in a statement.

Scans done since the procedure–a minimally invasive craniotomy with an eyebrow incision–show that the tissue of concern was completely resected by imaging criteria.

“The news of my father’s illness has affected every one of us in the McCain family,” Meghan McCain, the senator’s daughter and media personality said in a statement. “My grandmother, mother, brothers, sisters, and I have endured the shock of the news, and now we live with the anxiety about what comes next.”

Republican leaders commented on the news shortly after it broke.

“Senator John McCain has always been a fighter,” President Donald J. Trump said in a statement. “Melania and I send our thoughts and prayers to Senator McCain, Cindy and their entire family. Get well soon.”

Sen. McCain ran for president twice, unsuccessfully. He ran for but lost the Republican nomination in 2000, when George W. Bush went on to defeat Al Gore. He ran again in 2008, capturing the nomination in 2008 only to lose to Barack Obama in the general election.

“John McCain is a hero to our Conference and a hero to our country,” Senate Majority Leader McConnell said in a statement. “He has never shied from a fight and I know that he will face this challenge with the same extraordinary courage that has characterized his life. The entire Senate family’s prayers are with John, Cindy and his family, his staff, and the people of Arizona he represents so well.”

Meghan, who is also a Fox News co-host for the afternoon show “Outnumbered,” said the senator

“It won’t surprise you to learn that in all this, the one of us who is most confident and calm is my father,” she wrote on Twitter. “He is the toughest person I know. The cruelest enemy could not break him. The aggressions of political life could not bend him. So he is meeting this challenge as he has every other. Cancer may afflict him in many ways: but it will not make him surrender. Nothing ever has.”

Sen. John McCain, R-Ariz., has been diagnosed

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

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

The Supreme Court allowed the Trump Administration to more strictly enforce its travel ban on refugees until a federal appeals court rules. It’s another victory, albeit temporary, for the president’s executive oder, banning travelers from six Muslim-majority countries identified as hotbeds of terrorism.

The Court in June reinstated President Donald J. Trump’s travel ban until oral arguments were heard in October, 2017. The ruling exempted a large swath of refugees and travelers with a “bona fide relationship” to a person or an entity in the U.S.

But they did not define those relationships, only saying they could include a close relative, a job offer or admission to a college or university.

The Department of Justice (DOJ) filed a Motion to Clarify and Application for Stay after Hawaii Attorney General Douglas S. Chin sought a broader definition pertaining to those permitted to enter the U.S.

However, the Court refused the government’s request to clarify the definition of “close familial relationships.” In not doing so, it leaves the more expansive definition than the government had wanted.

That includes grandparents, grandchildren, brothers-in-law, sisters-in-law, aunts, uncles, nieces, nephews and cousins to a list that already included a parent, spouse, fiance, son, daughter, son-in-law, daughter-in-law or sibling already in the U.S.

Judge Watson, a leftwing appointee made by Barack Obama, said refugees working with resettlement agencies in the U.S. are considered to have a “close” relationship and must be admitted.

The Supreme Court put the expanded definition on hold and said the 9th Circuit Court of Appeals, the most liberal and overturned court in the land, can now consider both issues.

Justices Samuel Alito, Neil Gorsuch and Clarence Thomas would have blocked Judge Watson’s order in its entirety. The three justices also said last month they would have allowed President’s Trump travel ban to take full effect, leaving the order only needing the support of two justices when it eventually is heard.

The Supreme Court ruled 9-0 in June Mr. Trump did in fact use valid executive authority.

President Trump’s executive order came on the heels of the Department of Homeland Security (DHS) revealing nearly a third of the 1,000 domestic terrorism cases currently being investigated by the Federal Bureau of Investigation (FBI) involve those admitted to the U.S. as refugees.

Officials said some of those 300 came to “infiltrate” the U.S., while others were radicalized once they were in the country. The report represented the first official solid tie between the refugee resettlement program and an increase in domestic terrorism.

The People’s Pundit Daily (PPD Poll) Big Data Poll has repeatedly found majority support for President Trump’s executive order.

The Supreme Court allowed the Trump Administration

In this Thursday, Dec. 6, 2012, photo a new home is constructed in Pepper Pike, Ohio. US home construction surges 12.1 percent in December to end best year since 2008. (Photo: AP)

In this Thursday, Dec. 6, 2012, photo a new home is constructed in Pepper Pike, Ohio. US home construction surges 12.1 percent in December to end best year since 2008. (Photo: AP)

The U.S. Census Bureau reported Wednesday that U.S. housing starts and building permits both rose in June for the first time in four months.

The New Residential Construction Report for June shows housing starts gained 8.3% a 1.215 million annualized rate, with single family units up 6.3% to an annualized rate of 849,000. Multi-family units were up 13.3% to 366,000.

That topped the median economist forecast calling for an annual 1,170,000 rate and the prior 1,122,000 rate revised up from the initially reported 1,092,000.

The regional breakdown shows the Northeast led the way followed by the Midwest. Starts in the West are up slightly and are down noticeably in the South.

Permits overall rose 7.4% to an annual rate of 1,254,000, with single family permits up 4.1%. That also beat the forecasted annualized rate of 1,206,000 and the prior 1,168,000 rate.

Completions were also positive, gaining 5.2% overall to a 1.203 million rate led by multi-family units. Homes under construction are unchanged at 1.070 million.

The second quarter data ends on a positive note, but overall the pace is lower than in the first quarter. Housing starts averaged 1.164 million in the second quarter juxtaposed to 1.238 million in the first. Permits averaged 1.217 million juxtaposed to 1.260 million.

The U.S. Census Bureau said Wednesday that

United States Postal Service (USPS) clerks sort mail at the Lincoln Park carriers annex in Chicago, Illinois on November 29, 2012. (Photo: Reuters)

United States Postal Service (USPS) clerks sort mail at the Lincoln Park carriers annex in Chicago, Illinois on November 29, 2012. (Photo: Reuters)

The United States Postal Service (USPS) broke federal law to help Hillary Clinton and other Democratic candidates during the 2016 election cycle. According to a report by the Office of Special Counsel (OSC), the USPS “engaged in systemic violations” of the Hatch Act, a federal statute that significantly limits political activities of federal employees.

The investigation was launched after Sen. Ron Johnson, R-Wis., the Chairman of the Senate Committee on Homeland Security and Governmental Affairs, brought a constituent complaint to the Office of Special Counsel in October.

The constituent was identified as a USPS employee who alleged the Postal Service “incurred unnecessary overtime costs” and “improperly coordinated” with the National Association of Letter Carriers (NALC). The NALC released members for several weeks of “union official” leave without pay to participate in campaign work.

“The law’s purposes are to ensure that federal programs are administered in a nonpartisan fashion, to protect federal employees from political coercion in the workplace, and to ensure that federal employees are advanced based on merit and not based on political affiliation.​​​​ ” — Office of Special Counsel

Collective bargaining terms do permit federal employees to do limited political work while on leave, but the OSC report said USPS showed a “bias” favoring Democrats in 2016. The complaint said the NALC “chose members who [redacted] described as ‘activists’ who were capable of doing this work to participate in the release program in each ‘battleground’ state.”

The OSC agreed the operation was fueled to help Democrats. It specifically cited grassroots campaign work such as door-to-door canvassing, phone banks and other get-out-the-vote efforts.

“The Labor 2016 program sought to ‘elect Hillary Clinton and pro-worker candidates across the country,’” the OSC report concluded.

The investigation turned up 97 members of the NALC who requested leave without pay to participate in grassroots campaigning. The NALC, which endorsed Mrs. Clinton in June of 2016, paid USPS workers using the Letter Carrier Political Fund, which is the union’s PAC (political action committee).

That’s illegal.

According to the report, 82% of the work took place in 2016 battleground states, including Florida, Nevada, North Carolina, Ohio, Pennsylvania and Wisconsin. Mrs. Clinton lost all but Nevada, where she eked out a win.

Acting Special Counsel Adam Miles also said the NALC provided lists of letter carriers participating in campaign activity to a senior labor relations official, who emailed the lists to USPS officials across the country. Mr. Miles said those local officials “interpreted the communications as directives” from USPS headquarters.

Local supervisors initially voiced their concerns, but were overridden by regional USPS supervisors.

“We concluded that the USPS practice of facilitating and directing carrier releases for the union’s political activity resulted in an institutional bias in favor of NALC’s endorsed political candidates, which the Hatch Act prohibits,” Mr. Miles said in prepared testimony before the Senate Homeland Security Committee on Wednesday.

USPS Postmaster General Megan Brennan claimed in her prepared testimony that USPS did not seek to assist the NALC’s “favored candidates.” She insisted the Hatch Act violations were “unintentional” and that USPS has granted leave for NALC political activity for 20 years.

“As a federal entity, the USPS must remain politically neutral,” Mr. Miles added. “In many localities, the Postal Service is a citizen’s primary point of contact with the federal government, reinforcing the need for strict adherence to the letter and the spirit of the Hatch Act.”

However, as is more often than not the case in Washington D.C., government agencies and officials will not be held accountable for breaking the law. The OSC said “all things considered, disciplinary action is not warranted.”

“OSC identified institutional Hatch Act issues not exclusively attributable to any one employee, so disciplinary action is not appropriate in this case,” the report concluded. “But USPS must prevent future violations through changes in its practices regarding union official LWOP.”

The OSC said the United States Postal

[brid video=”153033″ player=”2077″ title=”Hannity Rips Republicans Get the Job Done Or Get Out of Washington”]

Sean Hannity absolutely ripped “useless” Republicans for their “epic failure” on ObamaCare during his opening monologue Tuesday. The Fox News conservative opinion anchor thrashed “the do nothing Republican Congress” for not moving the Trump agenda.

“This is not an option,” he said. “If you don’t do your job, many of you will be fired.”

Hannity also called on Mitch McConnell to “step aside” if he can’t get the job done, giving credit to Speaker Paul Ryan, R-Wis., for at least getting a bill through the House.

Fox News host Sean Hannity absolutely ripped

A sold sign is seen outside a house built by KB Home in Golden, Colorado, United States October 27, 2009. (Photo: Reuters)

A sold sign is seen outside a house built by KB Home in Golden, Colorado, United States October 27, 2009. (Photo: Reuters)

The Weekly Mortgage Applications Survey by the Mortgage Bankers Association (MBA) gained 6.3% for the week ending July 14, 2017. The Market Composite Index, a measure of mortgage loan application volume, increased 33% juxtaposed to the prior week on an unadjusted basis and by 7% from the prior year.

Refinance applications share of mortgage activity gained to 44.7% of total applications, up from 42.1% for the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 6.7% of total applications.

The share of total applications for the Federal Housing Administration (FHA) gained to 10.7%, up from 10.4% last week. The Veteran Administration (VA) share of total applications fell to 10.7%, down from 11.5% the week prior. The share for the Department of Agriculture (USDA) was 0.7%, unchanged from the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances–defined as $424,100 or less–remained unchanged at 4.22%, with points decreasing to 0.31 from 0.40 (including the origination fee) for 80% loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA fell to 4.10%, down from 4.12%. Points decreased to 0.30 from 0.40 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.48%, down from 3.50%. Points decreased to 0.39 from 0.45 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs remained unchanged at 3.32%, with points decreasing to 0.21 from 0.31 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

The MBA Weekly Mortgage Applications Survey, which has been conducted every week since 1990, covers over 75% of all U.S. retail residential mortgage applications. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

The Weekly Mortgage Applications Survey by the

Former Utah Gov. Jon Huntsman. (Photo: Reuters)

Former Utah Gov. Jon Huntsman. (Photo: Reuters)

President Donald J. Trump will formally nominate former Utah Gov. Jon Huntsman as ambassador to Russia, the White House confirmed on Tuesday.

Gov. Huntsman, who ran for the Republican presidential nomination in 2012, also served as U.S. Ambassador to China under Barack Obama from 2009 to 2011. He served as ambassador to Singapore under George H. W. Bush and Bill Clinton from 1992 to 1993.

Currently, he is serving as the chairman of both the Atlantic Council, a premier foreign policy think tank and the Huntsman Cancer Foundation. The moderate Republican is the son of Jon M. Huntsman, the billionaire head of global chemicals producer Huntsman Corporation.

President Donald J. Trump will formally nominate

President Donald Trump, second from left, with Vice President Mike Pence, left, shakes hands with Senate Majority Leader Mitch McConnell, R-Kty., center, before the start of a meeting with House and Senate leaders at the White House. (Photo: AP)

President Donald Trump, second from left, with Vice President Mike Pence, left, shakes hands with Senate Majority Leader Mitch McConnell, R-Kty., center, before the start of a meeting with House and Senate leaders at the White House. (Photo: AP)

Senate Majority Leader Mitch McConnell, R-Kty., said Tuesday the upper chamber will hold a procedural vote to repeal ObamaCare early next week. People’s Pundit Daily is told the decision was made after consulting with the White House, which wants lawmakers on the record.

“We’ll have the vote on the motion to proceed to the repeal early next week,” Leader McConnell said on the floor of the U.S. Senate.

Liberal Republican Senators Susan Collins (Maine), Shelley Moore Capito (W.Va.) and Lisa Murkowski (Alaska) basically killed the effort to repeal ObamaCare by announcing they would not support the effort without a replacement. It was the latest defeat for the slim Republican Senate majority on health care, which followed another effort to corral conservatives with the Consumer Freedom Amendment.

That fell apart on Monday and President Donald J. Trump called on Congress to vote on repeal of the law and replacement it at a later date.

From Left to Right: Sens. Susan Collins, Maine, Lisa Murkowski, Alaska, and Shelley Moore Capito, West Virginia. (Photos: AP)

From Left to Right: Sens. Susan Collins, Maine, Lisa Murkowski, Alaska, and Shelley Moore Capito, West Virginia. (Photos: AP)

Sens. Murkowski and Capito both voted “Yes” on the exact same bill in 2015, when Republicans voted 52-47 to repeal ObamaCare because they knew it would be vetoed by Barack Obama. Sen. Collins voted “No” in 2015.

Now that Republicans have the chance to cast a meaningful vote with a president willing to sign it, they caved. It’s perhaps the biggest broken political promise in modern U.S. history, rivaling Barack Obama’s “if you like your plan/doctor” vow.

President Trump wants to move on to tax reform and let the politicians suffer the consequences of their inaction and broken promises.

“I think we’re probably in that position where we’ll let ObamaCare fail,” he said. “I’m not going to own it… We’ll let ObamaCare fail and then the Democrats are going to come to us.”

Senate Majority Leader Mitch McConnell, R-Kty., said

People's Pundit Daily
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