Business Activity Picked Up in February
Business activity picked up in February 2020, according to the Federal Reserve Bank of New York Empire State Manufacturing Survey and the firms responding to the survey. The headline general business conditions index moved up eight points. The New Orders index shot up 16 points. The shipments index climbed, and inventories increased significantly.
Industrial production fell 0.3% in January, traced to a big decline in utilities and the suspension of Boeing 737 MAX production. Well Fargo
US Drill Rigs Running Same as the Previous Week
There were 790 drill rigs running in the US last week, no change from the previous week and down 261 rigs from a year ago.
Canadian drilling was down 2 rigs to 255 which is up 31 rigs from one year ago.
US Raw Steel Production at ACUR 81.8%
In the week ending February 15, 2020 US raw steel production was 1,907,000 net tons at an ACUR of 81.8 percent. Thus far this year mills have produced 12,575,000 net tons as compared to the 12,395,000 net tons produced in the like period last year.
The LEI Six-Month Growth Rate Has Returned to Positive Territory
The Conference Board Leading Economic Index (LEI) for the US increased 0.8 percent in January following a 0.3 percent decline in December and a 0.1 percent increase in November.
The strong pickup in the January LEI was driven by a sharp drop in initial unemployment insurance claims, increasing housing permits, consumers’ outlook on the economy and financial indicators,” said Ataman Ozyildirim, Senior Director of Economic Research at the Conference Board. “The LEI six-month growth rate has returned to positive territory, suggesting that the current economic expansion-at about 2%-will continue through early 2020. While weakness in manufacturing appears to show signs of softening, the Coronavirus outbreak may impact manufacturing supply chains in the coming months.”
Current Indicators for General Activity, New Orders and Shipments, Increased This Month
The Federal Reserve Bank of Philadelphia released its Manufacturing Business Outlook Survey for February 2020 and reports an improvement in regional manufacturing activity. The survey’s current indicators for general activity, new orders and shipments, increased this month, suggesting more widespread growth. The survey’s broad future indexes also showed improvement this month, indicating that growth is expected to continue over the next six months.
Existing Home Sales Slip Slightly
Existing home sales slip 1.3% in January, falling modestly, but sales are UP nearly 10% over the last year. Inventories are lean, prices have firmed, raising affordability hurdles.
I watched as much as I could stand of the “democratic presidential debate” on Wednesday night. What a sad our politics has become. First, the federal government should get the hell OUT of healthcare. It cannot effectively run anything; the government has become a collection of bureaucrats and lifetime legislators who do nothing beneficial for the USA. This is a power grab, a means to more fully control the populace and we the people need to stand up against this. This, along with the other main platform items would be the ruination of our country.
Free healthcare, free college, forgiveness of tuition debt, entitlement upon entitlement, sanctuary cities/states, get rid of the police, abolish ICE, all BAD ideas meant only to gain votes. It is nonsense. Last night we heard little about President Trump, the attacks were against newcomer, Mike Bloomberg and they did a pretty good job of destroying him. He looked totally out of place. Joe Biden, in my opinion is done, washed up. Bernie is an outright socialist commie. This country will not fall into that trap. Mayor Pete offers nothing. He was a failure as mayor of South Bend and offers no specific proposals, dancing around everything. Elizabeth Warren is a known self-serving liar, a socialist. She cannot win. Amy Klobuchar is untested, and I think, totally unprepared for the position of President. I can’t see any of these women being successful in a negotiation with a foreign country leader. The closest person to a true Democrat is Tulsi Gabbard and they are horrified of her, will not let her near the big stage.
As an American citizen, how do you want our country to move forward for you and your family:
SECURE BORDERS? OPEN BORDERS?
MORE GOVERNMENT? LESS GOVERNMENT?
A STRONG MILITARY? A WEAK MILITARY?
LESS TAXATION? MORE TAXATION?
LESS GOVERNMENT REGULATION? MORE GOVERNMENT REGULATION?
FAIR TRADE AGREEMENTS? QUID PRO QUO TRADE AGREEMENTS?
PROPER CARE FOR OUR VETERANS? DON’T CARE FOR OUR VETERANS?
MERIT BASED IMMIGRATION? THE SHIT WE HAVE NOW?
RESPONSIBLE HELP FOR THE POOR? THROW MONEY AT THE PROBLEM?
TEACH AMERICAN HISTORY TO OUR CHILDREN? ERASE AMERICAN HISTORY?
RESPECT OUR FLAG? DON’T GIVE A SHIT?
SAY THE PLEDGE OF ALLEGIANCE IN SCHOOL? WHAT IS THAT?
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform XX Entitlement Reform
Business Tax Reform XX Education Reform X
Healthcare Reform Veterans Administration Reform X
Rebuild our Military X Trade Reform X
Secure our Borders (The Wall) XX Lead the world from the front XX
Help for the poor XX Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS XX Extreme Vetting XX
Conservative Supreme Court nominees XX American Jobs XX
I will track these campaign promises and will check them off as each is accomplished adding those I have missed as they become apparent. This is quite an agenda and will be difficult to achieve all in one term, but I believe the American people are behind him and know these things need to be done. Now, if he can get our legislators to support him instead of fighting him….
“MAKE AMERICA GREAT AGAIN”
“KEEP AMERICAN GREAT”
Have a great weekend…. God bless America!
Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.
If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.
By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.
TEDDY ROOSEVELT ON IMMIGRANTS IN AMERICA…1907
In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person’s becoming in every facet an American and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag…We have room for but one language here and that is the English language…and we have room for but one sole loyalty and that is a loyalty to the American people.”