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Post by soonernvolved on Jun 21, 2020 4:50:43 GMT -6
Trump Tulsa Rally Summary: Crazed man tells long story to a small crowd about a slow walk down a short ramp. Translation: President spends over an hour & a half on stage talking to 16,000 supporters after said supporters were threatened with violence, told they would die due to Coronavirus, etc & over 3 million watched said rally on streaming services and it was ruled a “failure”. Yet, Biden is a success by drawing in around 20-30 people & only 60 viewing on streaming services,(for two events in the past week) & he routinely gets his states messed up, forgets what he’s saying, etc in fifteen minute script written talking points? If that belief let’s you sleep at night, go with it.
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Post by soonernvolved on Jun 21, 2020 5:22:55 GMT -6
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Post by Dotard 20 on Jun 21, 2020 7:54:49 GMT -6
Bwahaha...attendance was under 6k, less than a third of the arena loser
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Post by Dotard 20 on Jun 21, 2020 7:57:39 GMT -6
And the ones that did show up were subhuman, white trash
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Post by redrex on Jun 21, 2020 8:06:11 GMT -6
Bwahaha...attendance was under 6k, less than a third of the arena loser You are clueless-----As usual you are wrong -----go ask the people that were there how full it was-----------But I am sure your handlers, the people that think for you told you that only 6,000 showed up. Try thinking for yourself sometime it will be a new experience
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Post by redrex on Jun 21, 2020 8:07:07 GMT -6
And the ones that did show up were subhuman, white trash You already look like a fool----Don't make it worse
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Post by Dotard 20 on Jun 21, 2020 8:46:28 GMT -6
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Post by Dotard 20 on Jun 21, 2020 11:09:39 GMT -6
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Post by soonernvolved on Jun 21, 2020 14:12:35 GMT -6
And what must scare the devil out of Democrats is the number of online viewers! 6.7 million were watching President Trump’s rally online last night!
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Post by soonernvolved on Jun 21, 2020 14:13:56 GMT -6
Bwahaha...attendance was under 6k, less than a third of the arena loser You are clueless-----As usual you are wrong -----go ask the people that were there how full it was-----------But I am sure your handlers, the people that think for you told you that only 6,000 showed up. Try thinking for yourself sometime it will be a new experience I’ve seen reports of between 12,000 to 16,000 attendees.
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Post by soonernvolved on Jun 21, 2020 14:16:34 GMT -6
Earlier Sunday, Trump campaign manager Brad Parscale issued a statement on the rally attendance:
Trump campaign statement on bogus claims of ticket hacking
“Leftists and online trolls doing a victory lap, thinking they somehow impacted rally attendance, don’t know what they’re talking about or how our rallies work. Reporters who wrote gleefully about TikTok and K-Pop fans – without contacting the campaign for comment – behaved unprofessionally and were willing dupes to the charade. Registering for a rally means you’ve RSVPed with a cell phone number and we constantly weed out bogus numbers, as we did with tens of thousands at the Tulsa rally, in calculating our possible attendee pool. These phony ticket requests never factor into our thinking. What makes this lame attempt at hacking our events even more foolish is the fact that every rally is general admission – entry is on a first-come-first-served basis and prior registration is not required. The fact is that a week’s worth of the fake news media warning people away from the rally because of COVID and protestors, coupled with recent images of American cities on fire, had a real impact on people bringing their families and children to the rally. MSNBC was among outlets reporting that protesters even blocked entrances to the rally at times. For the media to now celebrate the fear that they helped create is disgusting, but typical. And it makes us wonder why we bother credentialing media for events when they don’t do their full jobs as professionals.”
– Brad Parscale, Trump 2020 campaign manager
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Post by soonernvolved on Jun 21, 2020 15:14:36 GMT -6
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Post by Dotard 20 on Jun 22, 2020 1:34:27 GMT -6
I think we have over estimated the intelligence of trump supporters
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Post by soonernvolved on Jun 22, 2020 5:13:22 GMT -6
I think we have over estimated the intelligence of trump supporters Let’s see. Over 6 million watched the livestream of President Trump’s rally, plus between 12-16,000 attended. We can now contrast that to Biden’s two appearances which brought in around 40 combined people & only 60 online streamers, but sure let’s not get into facts as they are hurtful lol. Also, no mention on the news of how BLM blocked the entrances to the rally,(police had to remove them), nor how they threatened violence & antagonized the peaceful Trump supporters.
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Post by soonernvolved on Jun 22, 2020 11:42:59 GMT -6
Lol. South Korea is calling out Bolton’s falsehoods. Yet, the MSM is quiet on this one: www.dailywire.com/news/south-korea-bolton-substantially-distorts-facts-around-trump-kim-summitSouth Korea: Bolton ‘Substantially Distorts Facts’ Around Trump-Kim Summit South Korea is disputing former national security adviser John Bolton’s account of President Trump’s negotiations with North Korean dictator Kim Jong-un. Bolton has written a memoir of his time in the White House under Trump titled “The Room Where It Happened.” The book is scheduled for release on Tuesday, though many excerpts have already appeared in the press. A South Korean security official says that Bolton’s version of the events surrounding three U.S.-North Korea summits that took place from June 2018-June 2019 is “distorted.” In his book, Bolton claims that South Korean President Moon Jae-in set unrealistic expectations for the talks while pursuing his own agenda to unify the Korean peninsula. Bolton describes Moon as “schizophrenic,” according to Reuters. “It does not reflect accurate facts and substantially distorts facts,” South Korea national security adviser Chung Eui-yong said, adding that Bolton’s published account of internal deliberations between the heads of state set a “dangerous precedent.” “Unilaterally publishing consultations made based on mutual trust violates the basic principles of diplomacy and could severely damage future negotiations,” Chung said. Trump has responded forcefully to the book, denying its claims and attacking Bolton as a “wacko.” “Wacko John Bolton’s ‘exceedingly tedious’ … book is made up of lies [and] fake stories. Said all good about me, in print, until the day I fired him. A disgruntled boring fool who only wanted to go to war. Never had a clue, was ostracized [and] happily dumped. What a dope!” Trump tweeted on last week, quoting a New York Times review critical of Bolton’s book. The U.S. Department of Justice has sued to block the book from being published, claiming that Bolton violated rules against publishing classified information. Copies of the book have already been released to the press, however, so the lawsuit is largely moot for the sake of protecting any privileged information. D.C. Circuit Court Judge Royce Lamberth ruled in the case on Saturday denying a Trump administration request to block the book’s publishing date. Lamberth also warned Bolton that if the former national security adviser did not receive approval from the administration before publishing the book, he could forfeit his $2 million book advance and possibly more. “Bolton has gambled with the national security of the United States,” Lamberth wrote in his decision, according to The New York Times. “He has exposed his country to harm and himself to civil (and potentially criminal) liability. But these facts do not control the motion before the court. The government has failed to establish that an injunction will prevent irreparable harm.” Trump cheered the ruling, tweeted that it was a “BIG COURT WIN against Bolton.” “Bolton broke the law and has been called out and rebuked for so doing, with a really big price to pay. He likes dropping bombs on people, and killing them. Now he will have bombs dropped on him!” Trump said
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Post by soonernvolved on Jun 22, 2020 12:31:43 GMT -6
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Post by soonernvolved on Jun 22, 2020 12:44:15 GMT -6
So embarrassing:
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Post by soonernvolved on Jun 22, 2020 17:03:40 GMT -6
www.breitbart.com/politics/2020/06/22/watch-black-man-harassing-trump-supporters-shocked-see-black-supporter-among-crowd/Watch: Black Man Harassing Trump Supporters Shocked to See Black Supporter Among Crowd A black anti-Trump agitator was stunned to see a black Trump supporter on Friday among the crowd who had lined up to attend the president’s Saturday campaign rally in Tulsa, Oklahoma. The black Trump supporter, Deron Slater — who is also the Director of Member Relations of BLEXIT Minnesota — later spoke to Breitbart News about his support for President Trump. I want to make sure that I have an informed opinion, not just an opinion — I want to be on the right side of history,” said Slater, who added that the Democrat Party today is the same Party that former President Abraham Lincoln had to fight against, and that it has always been Democrats that wanted segregation and Jim Crow laws. “I call them modern-day plantations,” added Slater of many inner cities in the U.S. today. “You get your provision, no education, a lot of violence to keep people oppressed, and you sell them a false narrative, that the white man is against you, you are oppressed.” “This is America, this is the land of opportunity,” he added. “And when you look at history, you can be anything that you want to be, all you have to do is work hard at it. And so they talk about, ‘There’s income inequality.’ No, a lot of people don’t want to put in the same amount of effort, so there’s effort inequality.” Slater also noted that when rioters destroyed businesses in recent weeks “they actually hurt more minorities,” as black-owned and minority businesses were targeted. “Their victim mentality created real victims, and they don’t understand that,” said Slater. “I have been trying to do this for 17 years, to wake up my country,” he added. “If you don’t check liberalism, this is what you’re gonna get. So now we have this country where everything is polarized, so much racial tension on the false pretenses.” Slater also mentioned his dismay over hearing former vice president and current presidential candidate Joe Biden declare that if black Americans are unsure whether to support him over President Donald Trump in the November election, “then you ain’t black.” “That’s the problem that’s wrong with America,” reacted Slater. “Your intellect, who you are as a person, has nothing to do with you race. Nothing.”
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Post by soonernvolved on Jun 22, 2020 17:05:28 GMT -6
www.breitbart.com/politics/2020/06/22/trump-halts-foreign-visa-worker-programs-to-free-up-600k-u-s-jobs-for-americans/Trump to Halt Foreign Visa Worker Programs to Free Up 600K U.S. Jobs for Americans President Trump will expand an executive order on Monday, halting a series of visa programs that bring hundreds of thousands of foreign workers to the United States to take American jobs. The order will halt the inflow of foreign worker pipelines until at least December 31. The visa programs suspended include: H-1B visas, who take white-collar U.S. jobs H-4 visas, who are the spouses of H-1B visa holders H-2B visas, who take blue-collar nonagricultural U.S. jobs L visas, who take white-collar U.S. jobs J-1 visas, who take a variety of blue-collar and white-collar U.S. jobs “Obviously American workers have been hurt, and it’s nobody’s fault that the coronavirus hit, but it did do a blow to the economy and to businesses who were furloughing and laying people off, and we want to make sure that Americans get hired into those spots,” said Department of Homeland Security (DHS) Acting Deputy Secretary Ken Cuccinelli. Altogether, the order is expected to free up about 600,000 American jobs for the more than 30,000,000 Americans who are jobless mostly due to the Chinese coronavirus crisis. That includes about 287,000 U.S. jobs freed up for Americans that would have otherwise been taken by H-1B, H-2B, and L-1 visa workers, according to Cuccinelli. Halting the J-1 visa program through the end of the year is set to free up about 97,000 U.S. jobs that would have otherwise gone to foreign workers. The order will be up for expansion within 30 days and reviewed every 60 days after that date. Those reviews include evaluating all regulations relating to visa programs. Cuccinelli credited the April order’s 60-day review process for giving the administration time to consider Monday’s expansion. The order includes a handful of exemptions, such as an exemption for foreign au pairs who arrive on J-1 visas to do low-wage nanny work for mostly wealthy American households. Also exempted are H-2B visa workers taking U.S. jobs in the food industry, J-1 visa workers taking U.S. jobs in coronavirus-related medical research or treatment, and the Optional Practical Training (OPT) visa program, which delivers foreign graduates to multinational corporations at discounted wage rates. DHS Secretary Chad Wolf and Secretary of State Mike Pompeo are given authority to exempt visa workers from the order if they are deemed “necessary to facilitate the immediate and continued economic recovery of the United States.” A DHS official told Breitbart News the exemption is for specific foreign visa workers who are vital to putting Americans back to work. “The president is confident this is going to be very popular with the American people,” Cuccinelli said. “It’s proven popular thus far — to start clearing this space … and it is the kind of thing that, frankly, some people on the other side of the aisle have supported in the past.” Indeed, reductions to overall immigration in the middle of mass unemployment are hugely popular with Americans. In April, nearly 80 percent of Americans said they wanted immigration halted to the U.S. during the crisis and amid mass unemployment. This month, majorities of 55 to 85 percent of voters in ten swing states said they want less immigration at the moment. Every year, the U.S. admits about 1.2 million legal immigrants on green cards to permanently resettle in the country. In addition, another 1.4 million foreign workers are admitted every year to take American jobs. Often, Americans are fired and replaced by visa workers. Many are forced to train their foreign replacements. This is the first time in American history that a president has used this particular executive order authority to reduce annual legal immigration levels, one administration official said. Trump’s authority over immigration, like all other presidents, is vast and broad. In June 2018, the U.S. Supreme Court reaffirmed the president’s control over legal immigration. In Trump v. Hawaii, the court stated that presidents have extraordinarily broad discretion to admit or exclude foreign nationals from the U.S. when they believe doing so is in the national interest.
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Post by soonernvolved on Jun 22, 2020 17:07:16 GMT -6
www.breitbart.com/politics/2020/06/22/donald-trump-sets-regulation-to-end-cheap-labor-h-1bs/Donald Trump Sets Regulation to End Cheap-Labor H-1Bs President Donald Trump has ordered his deputies to issue regulations to stop companies from using H-1B workers as cheap-labor substitutes for American graduates. “His goal here is to ensure that businesses, as they rehire coming out of the coronavirus economic hit, that they have to hire American workers first,” said Ken Cuccinelli, the deputy secretary at the Department of Homeland Security (DHS). The regulation change is being announced on June 22 alongside an executive order that reduces the inflow of blue-collar and white-collar migrants into U.S. jobs. The regulation change is huge because it will allow hundreds of thousands of young Americans to get starter jobs in the software and accounting sectors, said reform advocates. Under current rules, most young Americans are excluded from the sectors because Fortune 500 companies can import and exploit many H-1B gig-workers on short term, low-wage contracts. The draft regulation says that each year’s supply of 85,000 H-1B visas will be given to the companies that offer the highest salaries, and it says all H-1B employees must be paid above median wages. That draft regulation is being fought tooth-and-nail by Fortune 500 companies because it will deliver a huge pay increase to American graduates. In 2017, for example, 65 percent of H-1B workers were paid fair below-median wages for working jobs in New York, according to federal data collected by SAITJ.org. “Basically, we’re going to get rid of the 17 [percentile tier] and 30 [percentile tier] and set it at the 50th percentile … [or] tier three. And the intent here is to eliminate the bottom two tiers from a pay standpoint to open up those jobs for Americans,” Cuccinelli told Breitbart News June 22. The policy also tells the Department of Labor to rewrite the Labor Condition Application (LCA) regulatory process. This is important because companies must get an approved LCA before they can request H-1B visas from DHS. The new rules will require that companies who ask for H-1B visa workers must show that the foreign workers will not bump Americans out of jobs — even when the Americans are employed by other companies. For example, Disney hired an Indian company in 2012 to take over various jobs, including Disney’s software jobs in Orlando. The Indian company, HCL, asked for and got the H-1Bs for Disney by swearing only that the new H-1Bs would not displace other HCL workers in the United States — regardless of the intended harmful impact on Americans. “We’re going to bring that to an end, to a screeching halt,” Cuccinelli said. “The president has ordered us to close that loophole. We’re going to do that by regulation. Again, this will be a permanent change.” Under the new rules, HCL will have to promise that the new H-1Bs will not displace Americans in other companies, including the Disney workers. Under the law passed by Congress, Labor Department officials must quickly approve LCAs if they are correctly filled out. “The president wants to move toward a more merit-based immigration system,” said Cuccinelli. “You’ve heard him talk about ‘the best and the brightest,’ but he wants to do that in a way that protects American workers.” The proposed shift from the current lottery to highest-paid, first-served is welcomed by the white-collar activists who pushed for Trump to follow through on his 2016 campaign promise. Trump said in March 2016, “I will end forever the use of the H-1B as a cheap labor program, and institute an absolute requirement to hire American workers first for every visa and immigration program. No exceptions.” “That’s a step forward, absolutely,” said Hilarie Gamm, a co-founder of the American Workers Coalition. She continued: The thousands of Americans working with AmWorkCo to reach out to President Trump and his administration are grateful and excited to see any movement in the right direction. The American Workers Coalition has staged a grassroots campaign to contact the White House and the media, and to share the stories of displacement and economic hardship suffered by American professionals and their families … We may not be millionaires, but we all are voters, and the Trump administration in such a tight election year needs to listen to our voice. “There’s time to celebrate, but we’re going to be cautious,” said Kevin Lynn, founder of U.S. Tech Workers, adding: This is a success. Is it perfect? No, but we’re going to work towards the perfect. And it is an example of reform that would not exist without the involvement of the [white-collar] grassroots. Regardless of what I feel about a politician, when they do things I don’t like, I will let them know it. When they do things I do like, I will also let them know. I would encourage our base to say “This is what we like, thank you,” and then to mend what is not perfect. Most H-1B workers are hired in blocs to perform lower-skilled, routine software or accounting jobs. Very few perform high-skilled tasks that cannot be accomplished by Americans. These H-1B workers are usually cheaper than Americans, but U.S. CEOs prefer them because they are compliant, controllable, and disposable. U.S. executives know that visa workers are not immigrants. The visa workers have almost no legal rights in the United States and will rationally work long hours for many years in the hope of getting paid with a green card that allows them to escape India or China. In contrast, American professionals are a labor headache for CEOs, C-suite executives, and hiring managers. They argue with their managers, demand time off on the weekend, quit for other opportunities, go on local TV when their department is laid off, testify in court when low-quality products cause damage, and they also try to develop innovative products. Roughly 1.3 million white-collar visa workers are employed by tech companies, insurance companies, banks, manufacturers, hospitals, and universities. This growing legal population also hides a growing population of illegal professionals, many of whom overstay their visas and get lower-wage work in Indian-run subcontracting companies. For example, Indian companies use B-1 training visas to import Indian workers for low-wage work alongside the legal H-1Bs. Many young American graduates are getting displaced by this pipeline of Asian workers, a Facebook employer told Breitbart News. “I personally know people who lost their jobs because of that and are now living in camper vans,” he told Breitbart News. The skilled U.S. graduates “are working minimum-wage jobs, at fast food restaurants, at receptionist jobs, just to make ends meet,” he said, adding that some have since joined the Antifa protests rather than develop novel software products
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Post by soonernvolved on Jun 22, 2020 17:08:44 GMT -6
www.breitbart.com/politics/2020/06/22/trump-to-close-loophole-that-gives-50k-u-s-jobs-to-border-crossers-every-year/Trump to Close Loophole that Gives 50K U.S. Jobs to Border Crossers Every Year President Trump’s Department of Homeland Security (DHS) will eliminate a loophole in the asylum system that gives out work permits to about 50,000 border crossers every year. As part of a broader effort to reduce illegal and legal immigration while more than 30 million Americans are unemployed, DHS will issue a regulation that prevents border crossers from quickly obtaining work permits to take American jobs without securing asylum. DHS Acting Deputy Secretary Ken Cuccinelli said more than 50,000 work permits are issued annually to border crossers who have not filed for asylum, had their asylum claims adjudicated, or who have committed crimes. The regulation, Cuccinelli said, eliminates “the incentive to file asylum applications for the purpose of getting a work permit. … We’re closing a tremendous number of loopholes in that system.” Border crossers will no longer be able to secure work permits “unless and until your asylum claim is actually adjudicated and you’re found to be an appropriate asylee.” The administration expects wage and job gains for America’s working class by closing the loophole, as most of all the jobs held by this group of foreign nationals are in blue-collar industries. Before the Chinese coronavirus crisis, Trump had successfully driven down illegal immigration through a legal wall that helped secure month-after-month wage hikes for working-class Americans. In December 2019, just a couple of months before the crisis, the tightened labor market helped the bottom 25 percent tier of American workers get the largest wage hike compared to all other wage earners.
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Post by soonernvolved on Jun 23, 2020 6:30:29 GMT -6
www.dailywire.com/news/breaking-trump-authorizes-feds-to-arrest-anyone-who-vandalizes-statues-on-federal-propertyBREAKING: Trump Authorizes Feds To Arrest Anyone Who Vandalizes Statues On Federal Property President Donald Trump announced early on Tuesday morning that he has “authorized” the federal government to arrest anyone who vandalizes statues or monuments on federal property. The announcement from the president comes after rioters have destroyed numerous statues of former presidents in recent days, including statues of George Washington, Thomas Jefferson, and Ulysses S. Grant. “I have authorized the Federal Government to arrest anyone who vandalizes or destroys any monument, statue or other such Federal property in the U.S. with up to 10 years in prison, per the Veteran’s Memorial Preservation Act, or such other laws that may be pertinent,” Trump tweeted. “This action is taken effective immediately, but may also be used retroactively for destruction or vandalism already caused. There will be no exceptions!” Last night, Trump weighed in on the rioters who tried to destroy a statue of former President Andrew Jackson earlier in the day, writing: “Numerous people arrested in D.C. for the disgraceful vandalism, in Lafayette Park, of the magnificent Statue of Andrew Jackson, in addition to the exterior defacing of St. John’s Church across the street. 10 years in prison under the Veteran’s Memorial Preservation Act. Beware!” Secretary of the Interior David Bernhardt responded to the latest destruction of property by the rioters, writing the following statement on Twitter: I just left Lafayette Square where another so called “peaceful protest” led to destruction tonight. Let me be clear: we will not bow to anarchists. Law and order will prevail, and justice will be served. The scope of the violence and destruction since the protests started weeks ago have been significant. Criminals have vandalized national memorials and monuments, ignited sacred sites, attacked law enforcement officers, and destroyed countless businesses. The Lincoln Memorial and World War II Memorial were previously defaced, and now the Andrew Jackson Statue in Lafayette Square has been defaced by criminals who sought to topple the statue recognizing the seventh President of the United States. Law enforcement officers ensured that this would not happen. Across the country, some elected leaders of our cities have expressed enthusiasm and support for these criminals, exhibiting an undeniable unwillingness to protect law abiding citizens and their property. We live in the greatest country in the world, and I thank our dedicated law enforcement officials who stand tall against these coordinated attacks and seek peace and justice for all. The destruction of historical statues and monuments across the country was sparked by the death of George Floyd a month ago. Floyd’s death triggered riots, looting, and violence across the country, which morphed into activists going after Confederate statues. The activists quickly moved on from the Confederate statues to vandalizing statues of America’s presidents, the man who wrote “The Star-Spangled Banner,” a notable person from the Catholic church, and a Holocaust memorial.
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Post by soonernvolved on Jun 23, 2020 8:12:51 GMT -6
President Trump: last night we stopped an attack on a great monument, the monument of Andrew Jackson in Lafayette Park, and I just want to thank the police force they did a great job… Really they did a great job. They stopped it cold. Numerous people are in jail and going to jail today. People are already there. But we’re looking at long term sentences under the act, we have a very specific Monument’s Act. We are looking at long term jail sentences.
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Post by kcrufnek on Jun 23, 2020 9:10:54 GMT -6
I saw icky there. He had on his BSM shirt - Black Spunk Matters.
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Post by kcrufnek on Jun 23, 2020 9:11:37 GMT -6
SS says the number going through the metalometer was 12K.
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Post by soonernvolved on Jun 23, 2020 10:16:41 GMT -6
SS says the number going through the metalometer was 12K. So, between 12-16,000 attended the rally & over 11 million viewed it online through streaming services then? Such a failure lol
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Post by redrex on Jun 23, 2020 10:30:29 GMT -6
I saw icky there. He had on his BSM shirt - Black Spunk Matters. It comes in the kit his handlers send him
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Post by soonernvolved on Jun 23, 2020 11:33:16 GMT -6
www.breitbart.com/politics/2020/06/23/donald-trump-previews-executive-order-to-prosecute-hoodlums-toppling-statues/President Donald Trump on Tuesday at the White House said he would soon issue an executive order against the organized mobs toppling and defacing statues and monuments across the United States. “We are looking at long-term jail sentences for these vandals and these hoodlums and these anarchists, and agitators,” Trump said. “They’re bad people. They don’t love our country, and they’re not taking down our monuments.” The president commented after an organized mob tried to topple a statue of former President Andrew Jackson at the Battle of New Orleans in Lafayette Square across from the White House. “I will have an executive order very shortly, and all it’s really going to do is reinforce what’s already there but in a more uniform way,” he said. He said that state governments like Seattle were “very weak” and that the federal government was standing ready to assist them to fight off the radical left groups. “These are not protesters by the way, these are anarchists and other things, if these hoodlums come around and these states can’t handle it, we are ready and willing to help,” he said. The president also previewed his upcoming executive action on Twitter.
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Post by soonernvolved on Jun 23, 2020 11:41:36 GMT -6
www.breitbart.com/economy/2020/06/23/new-home-sales-surge-16-6-smashing-expectations/Sales of new homes in the United States surged higher in May as the economy reopened. Sales of new single-family houses rose to a seasonally adjusted annual rate of 676,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 16.6 percent above the revised April rate of 580,000 and is 12.7 percent above the year-ago level. Economists had expected a more modest bounce of just 2 percent to a pace of 636,000 from the previously reported 623,000. The actual increase was much steeper because of the downward revision for April and May’s sales rate coming in higher than expected. The huge boost in home sales in May suggests the economy is recovering faster than expected. New home sales are only a small part of the housing market but they can have an outsized economic impact because homebuilding is labor-intensive and buyers typically also purchase a lot of adjacent goods, such as furniture and appliances. The downward revision to April indicates that the lockdowns weighed even heavier on the real estate sector than previously thought. New home sales are reported at contract signings, so these are purchase agreed in May. Sales of previously owned homes reported Monday disappointed expectations but those are May closings on contracts that would have been signed in the prior months. Together, the data paint a picture of a housing market that suffered a steep decline in activity in March and April but rebounded sharply when the economy reopened. Sales were up sharply in the South, the West, and the Northeast. In the South, the largest market for new homes, sales rose 23 percent compared with April and were up 6.3 percent compared with a year ago. Sales in the Northeast, the smallest market for new homes, rose 45.5 percent on a monthly and annual basis. In the West, sales rose 29 percent for the month and were 31 percent higher than a year ago. In the Midwest, sales fell 6.4 percent in May but were 4.8 percent higher than the year ago level.
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Post by soonernvolved on Jun 23, 2020 11:44:55 GMT -6
www.breitbart.com/news/asian-shares-advance-on-wall-st-jobs-rally-opec-plus-deal/Shares are mixed in Asia after the Nasdaq composite touched a fresh record as enthusiasm about reopening the economy pushed Wall Street still higher Asian shares mixed after Nasdaq record as Wall St rallies onBy YURI KAGEYAMAAP Business WriterThe Associated PressTOKYO TOKYO (AP) — Shares were mixed in Asia on Tuesday after the Nasdaq composite touched a fresh record as enthusiasm about reopening the economy pushed Wall Street still higher. Japan’s benchmark Nikkei 225 lost 0.5% to 23,064.75 and South Korea’s Kospi dipped 0.3% to 2,178.58. Hong Kong’s Hang Seng jumped 1.3% to 25,105.75, while the Shanghai Composite index gained 0.3% to 2,946.10. Australia’s S&P/ASX 200 jumped 2.2% to 6,132.30, tracking Wall Street’s recent gains. The market was closed on Monday for a public holiday. Shares rose in Taiwan and Singapore. In Japan, the government reported that wages fell in April as the country widened precautions to fight the coronavirus pandemic, causing some businesses to close or limit their operations. Lower incomes make consumers even less likely to spend, compounding difficulties in boosting demand at a time when the economy is in recession. Failure to get companies to raise real wages has hindered efforts to restore the economy to solid, sustainable growth. Markets are powering ahead, helped by massive injections of stimulus by world central banks, hefty government spending, and hopes that “Peak COVID” has come and gone, despite a continued global rise in infections, Hayaki Narita of Mizuho Bank said in a commentary. “The durability of such a rally requires one of two things. For the music not to stop or for the real economy to catch up. The latter needs time, so the burden is now on the former,” Narita said. On Wall Street, the broader S&P 500 was up slightly for the year and back within 4.5% of its own record as optimism grows that the worst of the recession may have already passed. Stocks that would benefit most from an economy that’s growing again rose the most, including smaller companies, airlines and oil producers. The S&P 500 rose 1.2% to 3,232.39. The Dow Jones Industrial Average rose 1.7%, to 27,572.44. The Nasdaq composite, which is more heavily weighted to the big technology stocks that held up the best earlier this year, gained 1.1%, to 9,924.74. The Russell 2000 index of small-cap stocks rose 2%. Stocks have been rising since late March, at first on relief after the Federal Reserve and Capitol Hill pledged to support the economy and more recently on hopes that the recovery may happen more quickly than forecast. Those hopes got a huge boost Friday when the U.S. government said that employers added 2.5 million jobs to their payrolls last month. Economists were expecting to see 8 million more lost. States across the country are slowly relaxing restrictions on businesses meant to slow the spread of the coronavirus outbreak, which is raising expectations that the economy can pull out of its coma. New York City, which has been the country’s hardest-hit, began allowing retailers and some other businesses to reopen on Monday with some restrictions. That puts more scrutiny on economic reports this week as investors look for confirmation that Friday’s jobs report was a true inflection point and not just an aberration. Even if the economy did hit its bottom a month or two ago, economists warn that many risks are still looming over a very long road back to full recovery. Critics are also still saying the stock market may have risen too quickly and may be setting investors up for disappointment, with the biggest risk being another wave of infections that leads to more lockdowns. Among this week’s economic highlights are reports on inflation and the number of workers applying for jobless benefits. The headliner, though, is likely the Federal Reserve’s meeting on interest rates in the middle of the week. The Fed has already promised unprecedented amounts of support to keep markets running smoothly. Treasury yields have been climbing in recent days, reflecting rising expectations in the market for the economy and inflation. The 10-year Treasury yield dipped to 0.85% on Tuesday from 0.87% late Monday. It’s up sharply from 0.66% a week earlier. Benchmark U.S. crude oil gained 35 cents to $38.54 per barrel in electronic trading on the New York Mercantile Exchange. It fell $1.36 to $38.19 a barrel on Monday. Brent crude oil rose 29 cents to $41.09 a barrel. The U.S. dollar fell to 108.13 Japanese yen from 108.44 yen. The euro was flat at $1.1289.
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