Welcome to 2020!
Chicago Business Barometer Four-Month High In December
The Chicago Business Barometer four-month high reached 48.9 after rising 2.6 points in December . Business sentiment dropped to its lowest reading since Q2 2009 and the index was below the 50-mark for the second consecutive quarter. Among the five main categories, Supplier Deliveries and Production led the increase. Production hit its highest level since August. After dropping to a near four-year low, Order Backlogs picked up in November and increased further in December. Inventories remained in contraction for the fifth consecutive month, nevertheless the index strengthened.
Growth in Texas Factory Activity Rebounded in December
The Federal Reserve Bank of Dallas released its Texas Manufacturing Outlook Survey and reports growth in Texas factory activity resumed in December, according to business executives responding to the survey. The production index, a key measure of state manufacturing conditions rebounded after dipping into negative territory last month. Most other measures of manufacturing activity also rebounded in December.
Perceptions of broader business conditions were mixed, general business activity index remained slightly negative while the company outlook index rose by three points.
US Drill Rigs Running Down 15 From Previous Count
There were 805 drill rigs running in the US last week, down 15 rigs from the previous count and down 278 rigs from 1 year ago. Meanwhile Canadian drilling dropped by 50 rigs to 99 which is up 29 rigs from 1 year ago.
US Raw Steel Production at ACUR 81.1%
In the week ending December 28, 2019 US raw steel production was 1,876,000 net tons at an ACUR of 81.1 percent. Thus far this year mills have produced prox 96,326,000 net tons compared to the prox 94,638,000 net tons produced in the like period last year.
Consumer Confidence Index Decreased in December
The Conference Board Consumer Confidence Index decreased marginally in December following a slight increase in November.
While consumers’ assessment of current conditions improved, their expectations declined, driven primarily by a softening inn their short-term outlook regarding jobs and financial prospects. While the economy hasn’t shown signs of further weakening, there is little to suggest that growth, and in particular, consumer spending, will gain momentum in early 2020,” Said Lynn Franco, Director of Economic Indicators at the Conference Board.
Economic Activity in the Manufacturing Sector Contracted in December and the Overall Economy Grew for the 128th Consecutive Month
The Institute for Supply Management released its December 2019 Manufacturing ISM Report on Business and reports economic activity in the manufacturing sector contracted in December and the overall economy grew for the 128th consecutive month, according to the nation’s supply executives responding to the survey.
The report was issued Friday by Timothy R. Fiore, CPSM, CPM., Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.
The December PMI registered 47.2 percent, a decline of 0.9 percentage point from the November reading. This is the PMI’s lowest reading since June 2009.
Comments from the panel were consistent with November, with sentiment improving compared to the third quarter. December was the fifth consecutive month of PMI contraction.
Global trade remains the most significant cross-industry issue but there are signs that several industry sectors will improve as a result of the phase-one agreement between the US and China.
Construction Spending Rose in November
Construction spending rose 0.6% during November, with a solid gain in residential outweighing a small nonresidential decline. While overall spending is still down 0.8% YTD, residential outlays continue to move higher. Wells Fargo
Phase I China Trade Deal Coming
President Trump announces he will sign the Phase 1 trade deal with China on January 15, 2020 and he will then visit China to begin negotiations on Phase 2. This is big stuff, a new trade deal with Japan, a new trade deal with Canada and Mexico, a new trade deal with China with more to come. These will all bring nice business to the USA, fairer trade between partners. All good stuff!
Unfortunately, you will not hear from the mainstream liberal media or the Democrats, if anything, the Dems will take credit for the negotiations.
The Assassination of Qassem Soleimani
President Trump ordered a US airstrike that killed Major General Qassem Soleimani, leader of Iran’s Islamic revolutionary guard corps, among others. Soleimani was responsible for the deaths of 608 American military personnel and injuries to thousands. I am glad the son of a bitch is dead, may he and all his buddies roast in hell. Tehran vows revenge, let them try, I strongly suspect the American military response would be overwhelming.
Of course, the Democrats are pissing and moaning because they weren’t consulted. I would not have told them either as they seem to enjoy telegraphing their plans (Obama). Fact is you receive relevant intelligence on the whereabouts of a murderer, you must act immediately, there is not time for debate. Get over it, the decision to act was the correct decision. Thank you, Mr. President, for having the balls to kill this waste of skin.
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.”