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New home construction workers. (Photo: Reuters)

The Commerce Department said Tuesday U.S. housing starts rose 4.8% to a seasonally adjusted annual pace of 1.19 million. Economists surveyed by MarketWatch had forecast a 1.17 million pace, but the figures for May–originally reported as 1.16 million–were revised down to 1.14 million.

The prior month’s data indicate a housing sector struggling to tread water in the second quarter and single-family home construction continues to run well ahead of permits, which are likely to limit gains at least in the near term.

Building permits, which foreshadow starts in the future, increased 1.5% to a 1.15 million-unit rate last month, while permits for the construction of single-family homes increased 1.0% to a 738,000-unit rate. Multi-family building permits increased 2.5% to a 415,000-unit pace.

While the housing market is being supported by loosened lending practices and a demand for rental accommodation, home building is being weighed down by labor and land shortages.

A survey of homebuilders published on Monday showed weakness in certain areas of the housing market, with builders citing government regulations, as well as shortages of lots and labor.

Groundbreaking on single-family homes, the largest segment of the market, increased 4.4 percent to a 778,000-unit pace in June. Single-family starts in the South, where most home building takes place, gained 0.5 percent.

Single-family starts jumped 31.6 percent in the Northeast and climbed 3.1 percent in West. Groundbreaking on single-family housing projects increased 7.3 percent in the Midwest.

Housing starts for the volatile multi-family segment rose 5.4 percent to a 411,000-unit pace.

The Commerce Department said Tuesday U.S. housing

[brid video=”55216″ player=”2077″ title=”Melania Trump Republican National Convention Speech 71816″]

Melania Trump made her political debut during her speech at the 2016 Republican National Convention at the Quicken Loans Arena in Cleveland, Ohio.

MELANIA TRUMP: Thank you very much. Thank you. You have all been very kind to Donald and me, to our young son Barron, and to our whole family. t’s a very nice welcome and we’re excited to be with you at this historic convention. I am so proud of your choice for President of the United States, my husband, Donald J. Trump. And I can assure you, he is moved by this great honor. The 2016 Republican primaries were fierce and started with many candidates, 17 to be exact, and I know that Donald agrees with me when I mention how talented all of them are. They deserve respect and gratitude from all of us. However, when it comes to my husband, I will say that I am definitely biased, and for good reason.I have been with Donald for 18 years and I have been aware of his love for this country since we first met. He never had a hidden agenda when it comes to his patriotism, because, like me, he loves this country so much.I was born in Slovenia, a small, beautiful and then communist country in Central Europe. My sister Ines, who is an incredible woman and a friend, and I were raised by my wonderful parents. My elegant and hard-working mother Amalia introduced me to fashion and beauty. My father Viktor instilled in me a passion for business and travel. Their integrity, compassion and intelligence reflect to this day on me and for my love of family and America. From a young age, my parents impressed on me the values that you work hard for what you want in life: that your word is your bond and you do what you say and keep your promise; that you treat people with respect. They taught and showed me values and morals in their daily life. That is a lesson that I continue to pass along to our son, and we need to pass those lessons on to the many generation to follow. I travelled the world while working hard in the incredible arena of fashion.

After living and working in Milan and Paris, I arrived in New York City twenty years ago, and I saw both the joys and the hardships of daily life. On July 28th, 2006, I was very proud to become a citizen of the United States — the greatest privilege on planet Earth. I cannot, or will not, take the freedoms this country offers for granted. But these freedoms have come with a price so many times. The sacrifices made by our veterans are reminders to us of this. I would like to take this moment to recognize an amazing veteran, the great Senator Bob Dole. And let us thank all of our veterans in the arena today, and those across our great country. We are all truly blessed to be here. That will never change.

I can tell you with certainty that my husband has been concerned about our country for as long as I have known him. With all of my heart, I know that he will make a great and lasting difference. Donald has a deep and unbounding determination and a never-give-up attitude. I have seen him fight for years to get a project done — or even started — and he does not give up! If you want someone to fight for you and your country, I can assure you, he is the ‘guy’. He will never, ever, give up. And, most importantly, he will never, ever, let you down. Donald is, and always has been, an amazing leader. Now, he will go to work for you. His achievements speak for themselves, and his performance throughout the primary campaign proved that he knows how to win. He also knows how to remain focused on improving our country — on keeping it safe and secure. He is tough when he has to be but he is also kind and fair and caring. This kindness is not always noted, but it is there for all to see. That is one reason I fell in love with him to begin with. Donald is intensely loyal. To family, friends, employees, country. He has the utmost respect for his parents, Mary and Fred, to his sisters Maryanne and Elizabeth, to his brother Robert and to the memory of his late brother Fred. His children have been cared for and mentored to the extent that even his adversaries admit they are an amazing testament to who he is as a man and a father. There is a great deal of love in the Trump family. That is our bond, and that is our strength.

Yes, Donald thinks big, which is especially important when considering the presidency of the United States. No room for small thinking. No room for small results. Donald gets things done. Our country is underperforming and needs new leadership. Leadership is also what the world needs. Donald wants our country to move forward in the most positive of ways. Everyone wants change. Donald is the only one that can deliver it. We should not be satisfied with stagnation. Donald wants prosperity for all Americans. We need new programs to help the poor and opportunities to challenge the young. There has to be a plan for growth — only then will fairness result. My husband’s experience exemplifies growth and the successful passage of opportunity to the next generation. His success indicates inclusion rather than division. My husband offers a new direction, welcoming change, prosperity and greater cooperation among peoples and nations. Donald intends to represent all the people, not just some of the people. That includes Christians and Jews and Muslims, it includes Hispanics and African-Americans and Asians, and the poor and the middle class. Throughout his career, Donald has successfully worked with people of many faiths and with many nations.

Like no one else, I have seen the talent, the energy, the tenacity, the resourceful mind and the simple goodness of heart that God gave Donald Trump. Now is the time to use those gifts as never before, for purposes far greater than ever before. And he will do this better than anyone else can… and it won’t even be close. Everything depends on it, for our cause and for our country. People are counting on him — all the millions of you who have touched us so much with your kindness and your confidence. You have turned this unlikely campaign into a movement that is still gaining in strength and number. The primary season, and its toughness, is behind us.

Let’s all come together in a national campaign like no other! The race will be hard-fought, all the way to November. There will be good times and hard times and unexpected turns — it would not be a Trump contest without excitement and drama. But through it all, my husband will remain focused on only one thing: this beautiful country, that he loves so much. If I am honored to serve as first lady, I will use that wonderful privilege to try to help people in our country who need it the most. One of the many causes dear to my heart is helping children and women.You judge a society by how it treats its citizens. We must do our best to ensure that every child can live in comfort and security, with the best possible education. As citizens of this great nation, it is kindness, love and compassion for each other that will bring us together — and keep us together. These are the values Donald and I will bring to the White House. My husband is ready to lead this great nation. He is ready to fight, every day, to give our children the better future they deserve. Ladies and gentlemen, Donald J. Trump is ready to serve and lead this country as the next president of the United States. Thank you, God bless you, and God bless America.

Melania Trump made her political debut during

[brid video=”55220″ player=”2077″ title=””We are the Champions” Trump’s Unforgettable Entrance to 2016 Republican National Convention”]

After an unforgettable entrance to the 2016 Republican National Convention, Donald Trump introduced his wife Melania at the Quicken Loans Arena. Trump, the presumptive GOP nominee, showed off his showmanship on Monday in Cleveland, Ohio.

Donald Trump, the presumptive GOP nominee, showed

[brid video=”55154″ player=”2077″ title=”Former NYC Mayor Rudy Giuliani&#39s full speech at RNC 2016″]

Former New York City Mayor Rudy Giuliani ripped into Barack Obama for failing to deliver his promises on race relations and national unity. During his speech at the Republican National Convention in Cleveland on Monday night, Giuliani invoked a 2004 keynote speech at the Democratic National Convention by then-Sen. Barack Obama, who was being groomed for a future presidential bid.

“What happened to, ‘there’s no black America, there’s no white America, there is just America?'” he asked with fire. He also spoke about his nearly 30-year relationship with Donald Trump, the presumptive Republican nominee for president.

It’s time to make America safe again. It’s time to make America one again… I know we can change it, because I did it by changing New York City from the crime capital of America to the safest large city in the United States. What I did for New York, Donald Trump will do for America!

Donald Trump has said the first step in defeating our enemies is to identify them properly and see the connections between them. To defeat Islamic extremist terrorism we must put them on defense,” he said. “If they are at war against us ― which they have declared ― we must commit ourselves to unconditional victory against them…

This includes undoing one of the worst deals America ever made ― Obama’s Nuclear Agreement with Iran that will eventually let them become a nuclear power and put billions of dollars back into a country that the world’s biggest state sponsor of terrorism.

Former New York City Mayor Rudy Giuliani

[brid video=”55217″ player=”2077″ title=”Our Heroes in Blue Darryl Glenn Republican National Convention”]

Darryl Glenn, the current Republican nominee for U.S. Senate in Colorado running to defeat incumbent U.S. Senator Michael Bennet, said American communities have become more violent under Barack Obama.

“Here’s some more facts Mr. President,” he said during his speech at the 2016 Republican National Convention at the Quicken Loans Arena in Cleveland. “Communities have become more violent under your watch.”

Darryl Glenn, the current Republican nominee for

[brid video=”55218″ player=”2077″ title=”Lone Survivor Marcus Luttrell Each and Every Life Under the Flag is Family”]

Marcus Luttrell, the real Lone Survivor and former Navy SEAL, said each and every life under the flag is family and should be treated accordingly. Mr. Luttrell, who was played by Mark Wahlberg, made his passionate “of the cuff” remarks during the 2016 Republican National Convention in Cleveland, Ohio.

“They [U.S. leaders] need to lead by example and show the American people that each and every life under the flag should be family and treated accordingly,” he said at the Quicken Loans Arena.

Marcus Luttrell, the real Lone Survivor and

Indiana Gov. Mike Pence, the 2016 Republican vice presidential nominee.

Indiana Gov. Mike Pence, the 2016 Republican vice presidential nominee.

I believe that Donald Trump was smart to pick Indiana Gov. Mike Pence to be his running mate. All things considered, it’s an encouraging development, whether Trump picked him because he truly wanted him or he did so at the strong urging of his advisers.

If he was Trump’s first choice among finalists, it’s encouraging because it shows he is comfortable with a traditional conservative who strongly self-identifies as and behaves like a devout Christian. It indicates he understands the value to the ticket in picking someone who seems to be the Antitrump in terms of personality and style — and to some extent on policy issues, as well.

If he chose him grudgingly under pressure from his confidants and consultants, it’s still mildly reassuring because it indicates that on matters of tremendous import, Trump will sometimes defer, which signals that he might very well listen to advisers on important policy matters, even when he disagrees.

Many of Trump’s defenders have assured us that even if Trump can sometimes be brash and impulsive, he would surround himself with brilliant advisers as he has done in his businesses. My concern has been that even brilliant counselors might not be able to penetrate Trump’s ego and that Trump might not be sufficiently informed on the issues to benefit greatly from wise counsel with which he instinctively disagrees.

We have seen numerous examples of Trump’s taking his own advice above that of his advisers, such as when some of them strongly cautioned him to present his “other side” to the public. Usually, he decided instead to continue letting Trump be Trump.

I acknowledge that, on the other hand, it could be a cynical move. Let’s not delude ourselves into believing that vice presidents are any more relevant than presidents choose to make them. If Trump had to be persuaded against his will to pick Pence, it may have been that the Pence advocates also convinced him that there was a big political upside to it and no substantive downside. That is, picking Pence would help Trump’s image to some unknown extent among certain remaining Republican Trump skeptics and others, but it would in no way cramp Trump’s style when governing. He could listen to or ignore his vice president at will. Even if you choose to analyze this through wholly cynical lenses, I still believe that it was a very prudent decision.

Why? Well, it’s partly because I’m not an alt-right Republican who aligns with Trump on every issue. I am a constitutional conservative who believes that the source of almost all of America’s problems today can be traced in some way to the abandonment of our founding principles and that the solution is to return to the policies of limited government.

I believe that Pence is a constitutionalist and a bona fide conservative, even if I don’t agree with him on every single issue or approve of every decision he has made. I also believe he is a good man — a man of wisdom, humility, maturity and judgment — who not only talks the Christian talk but walks the Christian walk. If Trump truly does listen to advisers as his ardent supporters claim, then Pence’s proximity to the Oval Office for the next four years could only be a positive development.

Based on what I’ve observed so far — and it’s admittedly early in the life of the Trump-Pence ticket — Pence also seems temperamentally suited to be Trump’s running mate. It is not every constitutional conservative who would feel comfortable joining the Trump ticket. It promises to be very difficult at times, especially when Trump says or does something that might make a traditional conservative cringe. Pence seems to have the ideal disposition to thread this needle — to be supportive of Trump without compromising his own principles. I choose to hope that is the case, anyway.

Apart from the “Never Trump” group — who would not vote for Trump under any circumstances — those constitutional conservatives who believe that Pence is a sellout for agreeing to run with Trump can’t have it both ways. Would they rather Trump have picked a mirror image of himself? Why can’t we just give Pence the benefit of the doubt and assume he’s doing this because he believes his decision to join the ticket is in the best interests of the nation, even if Trump was not his first choice for president?

As for me, I am gratified and encouraged by Trump’s pick and view it as a welcome development and one that I hope foreshadows more good fruit.
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I believe that Donald Trump was smart

[brid video=”55223″ player=”2077″ title=”Pat Smith “I Blame Hillary Clinton Personally for the Death of My Son””]

Pat Smith, the mother of Sean Smith, who was killed during the attack on the U.S. Consulate in Benghazi, gave an emotional speech in support of Donald Trump and slammed Hillary Clinton.

“Donald Trump is everything Hillary Clinton is not,” Mrs. Smith said during a speech Monday night at the Republican National Convention. “He’s blunt, direct and strong. He speaks his mind and his heart. And when it comes to the threat from radical Islamic terrorism, he will not hesistate to kill the terrorists who threaten American lives.”

On September 11, 2012, just a few short weeks before the presidential election, Pat’s son Sean Smith and three other Americans–U.S. Ambassador Christopher Stevens, former Navy Seals Tyrone Woods and Glen Doherty–were murdered in what then-Secretary Clinton knew at the time to be an Islamic terror attack.

“This entire campaign comes down to a single question: ‘If Hillary Clinton can’t give us the truth, why should we give her the presidency?” she asked. “That’s right, Hillary Clinton for prison. She deserves to be in stripes.”

Pat Smith, the mother of Sean Smith

Saudi-Royal-Family-AP

Members of the royal family, including Saudi Prince Alwaleed Bin Talal, left, who is one of the men allegedly responsible for funding Bin Laden. (Photos: AP/Getty/AFP)

Formerly classified, 28 pages of a probe into the Sept. 11, 2001, attacks are a mystery no longer. Their release 14 years after Congress made the rest of its report public was supposed to end suspicions of an official Saudi role in the horror. It did not.

Nearly 15 years has passed since terrorists weaponized four jetliners full of passengers. Two plowed into the World Trade Center’s twin towers. One hit the Pentagon. And another (headed to an unclear destination) crashed in a field in Pennsylvania.

Fifteen of the 19 hijackers were Saudi nationals. The locked-up 28 pages addressed possible ties between the Saudi royal family and government and some of the terrorists.

President George W. Bush withheld that section, arguing that its disclosure could jeopardize U.S. intelligence sources. Others say he wanted to protect U.S.-Saudi relations for a number of reasons, one being the Bush family’s close ties to the royal family.

The declassified pages dealt with part of a massive FBI investigation into the catastrophe of 9/11. They included reports that two of the hijackers had been in contact with suspected Saudi intelligence officials in San Diego. There was evidence of communications between an al-Qaida operative and a diplomat in the Saudi Embassy in Washington. That kind of thing.

Unsettling but no “smoking gun.” Much of the information, we are told, was preliminary and unvetted.

“We need to put an end to conspiracy theories and idle speculation that do nothing to shed light on the 9/11 attacks,” Richard Burr, chairman of the Senate Intelligence Committee, said in a statement after the 28 pages’ release.

Not so fast, responded some prominent doubters. One is former Sen. Bob Graham, who headed that same committee in 2002. “I think the linkages are so multiple and strong and reinforcing,” he recently told Yahoo News, that it’s hard not to believe that a “support network came from Saudi Arabia.”

The gun that most definitely smokes is Saudi financing of extremist Wahhabi Muslims now terrorizing and destabilizing large parts of the globe. Their hate-filled theology inspires both al-Qaida and its rival, the Islamic State.

“Donors in Saudi Arabia constitute the most significant source of funding to Sunni terrorist groups worldwide,” then-Secretary of State Hillary Clinton wrote in a 2009 cable, according to WikiLeaks. To this day, the money continues to flow into Europe, Africa and Asia.

Kosovo is a startling example. Its population had long adhered to a moderate version of Islam and viewed Americans as liberators from their Serbian foes. Then Saudi money flooded the country with mosques and radical clerics. What was a relatively easygoing European society started turning intolerant and fundamentalist.

Wahhabism authorizes the killing of Muslims who do not adhere to its strict code, never mind others. Radicalized Kosovars now intimidate and attack journalists, politicians and even old-line Muslim clerics. Many of its young are abandoning their home to fight for the Islamic State.

What once sounded outlandish — the idea that Saudi officialdom had anything to do with the Sept. 11 outrage — now seems within the realm. And that has fueled bills in Congress to let survivors of the 9/11 tragedy sue the Saudi government and others.

The Obama administration opposes such suits as a bad precedent. Its argument is a strong one, even as we understand the desire to wrest some reparation for the 9/11 tragedy.

There will never be a time to stop asking how almost 3,000 people came to be murdered on U.S. soil in a matter of hours. The declassified 28 pages may clear up some suspicions, but others remain. The questions are not going away.

Formerly classified, 28 pages of a probe

Thomas Sowell, economist, author, syndicated columnist and People's Pundit Daily contributor.

If there were a contest for the most stupid idea in politics, my choice would be the assumption that people would be evenly or randomly distributed in incomes, institutions, occupations or awards, in the absence of somebody doing somebody wrong.

Political crusades, bureaucratic empires and lucrative personal careers as grievance mongers have been built on the foundation of that assumption, which is almost never tested against any facts.

A recent article in the New York Times saw as a problem the fact that females are greatly under-represented among the highest rated chess players. Innumerable articles, TV stories and political outcries have been based on an “under-representation” of women in Silicon Valley, seen as a problem that needs to be solved.

Are there girls out there dying to play chess, who find the doors slammed shut in their faces? Are there women with Ph.D.s in computer science from M.I.T. and Cal Tech who get turned away when they apply for jobs in Silicon Valley?

Are girls and boys not allowed to have different interests? If girls had the same interest in chess as boys had, but were banned from chess clubs, that would be something very different from their not choosing to play chess as often as boys do. As for chess ratings, that is not subjective. It is based on which players, with which ratings, you have won against and lost to.

Are women and men not to be allowed to make different decisions as to how they choose to spend their time and live their lives?

Chess is not the only endeavor which can take a huge chunk of time out of your life, and unremitting efforts, to reach the top. If you want to become a top scientist, a partner in a big law firm or a top executive in a major corporation, you are very unlikely to do it working from 9 to 5, or taking a few years off, here and there, to have children and raise them.

Applying the same unsubstantiated assumption to differences in “representation” between different racial and ethnic groups likewise produces many loudly expressed grievances, political crusades, and millions of dollars from lawsuits charging discrimination — all without a speck of evidence beyond numbers that do not match the prevailing assumptions.

People who base their conclusions on hard facts often reach very different conclusions than those who base their conclusions on the preconception that outcomes would be even or random in the absence of somebody treating somebody wrong.

Something as simple as age differences among groups can doom any assumption of even or random outcomes.

If every 20-year-old Puerto Rican in the United States had an income identical with the income of every 20-year-old Japanese American — and identical incomes at every other age — Japanese Americans as a group would still have a higher average income than Puerto Ricans in the United States. That is because the median age of Japanese Americans is more than 20 years older.

People with 20 years more work experience usually make higher incomes. And age difference is just one of many differences between groups.

You can study innumerable groups in countries around the world today, or over centuries of recorded history, without finding a single example of the even or random outcomes that are used as a benchmark for determining discrimination.

Nevertheless, courts of law — including the Supreme Court of the United States — use something that has never been found anywhere as a norm to which current realities are to be compared. Billions of dollars, in the aggregate, have changed hands as a result of individual lawsuits charging discrimination.

Life is undoubtedly unfair. But that is not the same as saying that the unfairness occurred wherever the statistics were collected. The origins of this unfairness often go back to different childhood environments for individuals or different geographic or cultural settings for groups and nations.

These differences between nations, as well as differences between individuals and groups, reflect the fact that the world “has never been a level playing field,” as economic historian David S. Landes put it. Renowned historian Fernand Braudel said, “In no society have all regions and all parts of the population developed equally.”

How long will we continue to take something that has never happened, and never had much chance of happening, as a norm?

Thomas Sowell: If there were a contest

People's Pundit Daily
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