Caterpillar Sales and Profit Forecast Raised
Caterpillar sales and profit forecast raised as demand for construction and mining equipment has grown. WSJ
Real Gross Domestic Product (GDP) Increased at an Annual Rate of 3.0 Percent
Real Gross Domestic Product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017, according to the “advance” or “first” estimate released by the Bureau of Economic Analysis. In the second qtr. real GDP increased 3.1 percent.
Chicago Fed National Activity Index (CFNAI) Moved Up to +0.17 in September from -0.37 in August
Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) moved up to +0.17 in September from -0.37 in August. All four broad categories of indicators that make up the index increased from August and three of the four categories made positive contributions. The index’s three month moving average (CFNAI-MA3, was unchanged at -0.16 in September.
What do the numbers mean? A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth. Periods of economic expansion have historically been associated with values of the CFNAI-MA3 above –0.70 and the CFNAI Diffusion Index above –0.35.
Conversely, periods of economic contraction have historically been associated with values of the CFNAI-MA3 below –0.70 and the CFNAI Diffusion Index below –0.35. An increasing likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +0.70 more than two years into an economic expansion. Similarly, a substantial likelihood of a period of sustained increasing inflation has historically been associated with values of the CFNAI-MA3 above +1.00 more than two years into an economic expansion.
US Drill Rigs Running Slid Last Week
The number of drill rigs running in the US slid by 15 last week (to 913), led by Texas, down by 8. Canadian drilling fell by 10 rigs (to 202) compared to the previous week. 1 year ago operating rigs were 553 and 143 respectively.
Fifth District Survey of Manufacturing Activity Remained Positive in October
The Federal Reserve Bank of Richmond released its Fifth District Survey of Manufacturing Activity and reports manufacturing activity remained positive in October. Manufacturing firms remained optimistic about growth in the next six months.
US Raw Steel Production Eased Last Week
US raw steel production eased last week, dropping 0.7% from the previous week as mills operated at an ACUR of 74.3%. In the corresponding week last year mills operated at an ACUR Of 70.8%. Thus far this year mills have produced prox 73,000,000 tons compared to the prox 70,000,000 tons produced in the like period last year.
The Census Bureau Monthly Advance Report on Manufacturer’s Shipments, Inventories and Orders September 2017:
- New orders for manufactured durable goods in September increased 2.2 percent. This increase, up three of the last four months, followed a 2.0 percent August increase.
- Shipments of manufactured durable goods in September, up four of the last five months, increased 1.0 percent.
- Inventories of manufactured durable goods in September, up fourteen of the last fifteen months, increased 0.6 percent, following a 0.5 percent August increase.
Anti-Trump Republican Senators to Bow Out of Re-Elections
Senator Corker (R-TN) will not run for re-election next year because Trump would not endorse him. I don’t know how the war of words began but the swamp is being drained of Republicans who will not support the President’s agenda.
Jeff Flake (R-AZ) will also not seek re-election next year vocalizing his displeasure with the president, also an anti-Trumper. What he didn’t say is that his approval ratings in Arizona are 18% and he would likely get his ass beat next year. Another swamp critter headed for the drain. Good riddance to both.
Trump Dossier Funding
This is going to get very interesting: It is now reported that the Clinton Campaign and the Democratic National Committee (DNC) funded the debunked Trump dossier. Additionally, Congress is investigating the Uranium One deal wherein Secretary Clinton signed off on selling 20% of the US strategic supply of uranium to Russia…at the same time $145 million was flowing into the Clinton Foundation ( can you say COLLUSION?).
Additionally it appears the Russian collusion accusations falsely made against Trump, have landed on Clinton’s doorstep. John and Tony Podesta (of the Clinton campaign) were a conduit of Russian influence and money to the Clintons. Paul Manafort, briefly with the Trump campaign (and now in a world of shit), has strong ties to Russia and, in concert with the Podesta brothers, enabled the Russian influence. The Clintons and their compatriots ( Mueller, Holder, Rice, Lynch, Lerner, Clapper, Comey et al) should all end up behind bars…Finally
It is now Friday and the intrigue of the breaking story above is getting very interesting to say the least. The democrats have been lying, colluding with the enemy, obstructing justice and on and on. In their zeal to accuse Trump of all these things, it is now revealed that it is THEY who have committed these crimes against the United States and the American people. You can’t make this stuff up. Of course NONE of this is being reported by the main stream media, aside from the Washington Post which reported the Clintons and the DNC paid for the fake news dossier. What goes around comes around folks and these losers will all get their due.
The GOP Budget Plan Adopted by the House
On Thursday the House of Representatives adopted the GOP budget plan, clearing a key hurdle to tax code overhaul. Not ONE democrat supported the budget and some 20 rino’s also voted against. Drain the Swamp…
Rest in Peace: Antoine “Fats” Domino
Antoine “Fats” Domino passed away Tuesday; he was 89 and is now happily seated by and playing his grand piano in heaven, still rockin’….
Infrastructure X (Keystone & Dakota pipelines) Regulation Reform XX 1 in 2 out
Individual Tax Reform Entitlement Reform
Business Tax Reform Education Reform X
Healthcare Reform X rollback begun 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 Drain the swamp X as we speak
Peace through unmatchable strength Support Israel X
Destroy ISIS X 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”
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.”