CPI-U increased 0.2%

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in April after falling 0.1 percent in March. Over the last twelve months, the all items index increased 2.3 percent before seasonal adjustment. Bureau of Labor Statistics

US raw steel production up from prior week

In the week ending May 10, 2025, US raw steel production was 1,709,000 net tons at an ACUR of 77.5 percent, up 0.9 percent from the prior week ending May 3, 2025. Adjusted YTD production through May 10, 2025, was 31,066,000 net tons at an ACUR of 74.9 percent.

Empire State manufacturing survey reports business activity continued to decline

The Federal Reserve Bank of New York released its Empire State manufacturing survey results and reports business activity continued to decline modestly in New York State in May, according to firms responding to the survey. The headline general business conditions index was little changed. New orders and shipments increased after declining last month. Firms remained pessimistic about the outlook, with the future general business conditions index holding slightly below zero.

May 2025 Manufacturing Business Outlook reports activity in the region remained weak

The Federal Reserve Bank of Philadelphia released its May 2025 Manufacturing Business Outlook Survey results and reports manufacturing activity in the region remained weak, according to firms responding to the survey. The current general activity index rose, but remained negative. The new orders index turned positive, while the shipments index remained negative and declined further.

If you are blessed to have your mother still with you, treat her like the special queen she is, on this Mother’s Day weekend.


Headline News

Overnight Sunday the United States and China came to an agreement on tariffs where both have agreed to slash tariff rates and address non-tariff trade barriers, for ninety days as negotiations continue. Stock market futures are up quite a bit, and we should have a great start to the trading week.
Of course all the economic geniuses continue to deride the tariff policy. I see quite the opposite, but I am a businessman, I sign paychecks and checks to vendors, many of these smart people know little of business, or apparently, how to run one.
The President is in the Middle East, visiting with Saudi Crown Prince Mohammed Ben Salman, and Qatar.
Qatar offered to give the US military a $400 million airplane to be used as Air Force One. Of course, the left says Trump is “enriching himself,” that he cannot accept such gifts. Why not? Wasn’t the Statue of Liberty a gift from France? Always nitpicking. No solutions, just nitpicking. Trump got the Saudi’s to commit to a $1 trillion investment in the USA. He invited Iran to the peace table, among other things, he urged the Saudi’s to join the Abraham Accords. He also rescinded all sanctions against Syria, since Assad is gone.
Qatar agreed to invest $200 billion to buy 160 Boeing airplanes in the USA, I believe for data centers, additionally another commitment to invest over $1 trillion in the USA was made by Qatar.
He has slashed, by executive order, pharmaceutical costs on many drugs by up to 90%, saying “we won’t pay more than the lowest cost available to others.”
He may now head to Turkey to meet with Putin and Zelensky, who are meeting to discuss peace…hopefully.

“One Big Beautiful Bill…”

In order to keep the 2017 tax cuts from expiring, to legislate further tax cuts and whatever else Trump had in mind while campaigning it will be necessary for Republicans to stick together, but there are already dissenters in the fold, additionally, weak-kneed Republicans are caving to leftist demands. The following are excerpts from an opinion piece in Friday’s Wall Street Journal, written by Kimberly Strassel.
The current House GOP standoff boils down to the usual: to spend or not to spend. To date, the spenders-or as the media charitably describes them, the “moderates”-have run the table. Their initial demands required House leaders to set a pathetic target of $1.5 trillion in spending cuts over the next 10 years, allowing the Joe Biden spending boom to stand and grow. They then proceeded to throw up roadblock after roadblock in the way of even that $1.5 trillion mark. Congress remains littered with their red lines: No reigning in of Obamacare’s Medicaid expansion. No messing with prior “infrastructure” spending. No serious overhaul of food assistance. No starting any real reform until 2029, so that lawmakers have time to roll it back.
To add injury to entitlement, they are demanding that any money saved-over their objections-be earmarked for their voters. Having already won a promise that they’ll get a reprieve from today’s $10,000 cap on deductibility of state and local taxes, no amount will suffice. Double isn’t good enough. Nor is triple or quadruple. New York Republicans suggested this week that they might consider voting for a GOP bill that spares the country $4.5 trillion in tax hikes-but only if their constituents are allowed to deduct $80,000 worth of state and local taxes from their federal returns.
Most Americans don’t even earn $80,000.
But the cheek that tipped conservative frustration into fury was Wednesday’s additional demand from 14 “moderates”-on top of their SALT extortion, on top of their reform roadblocks-to continue spending with abandon on Joe Biden’s Green New Deal…these intraparty chasms may now be too wide to be bridged, which means the more likely path to a bill-if one even remains-is for one side to bend. Only one figure in the party has the political muscle to force such an outcome. The president has kept deliberately quiet about the state of negotiations and his own preferences. The assumption was always that he’d engage at the end, when the time came to knock heads into line over final outstanding questions. Only where does he now come down?
Why should the president have even weathered the political storm that came from stating important truths-Medicaid has a lot of waste and fraud, work requirements should accompany welfare, the climate agenda is punishing American businesses and consumers-if Republicans in Congress ultimately surrender to the left’s talking points? For Mr. Trump, standing his ground is the obvious course, especially because voters’ belief that he would do what he says is what won him the office.
Either way, enter Mr. Trump. The party will need some pushing to get this done. Watch carefully in what direction Mr. Trump shoves.”

MAKE AMERICA GREAT AGAIN

“KEEP AMERICA 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.”