Led by Declines in Production-related Indicators, the Chicago Fed National Activity Index (CFNAI) Fell in December
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) fell to -0.15 in December from +0.44 in November. Two of the broad categories of indicators used to construct the index made negative contributions in December. The index’s three-month moving average, CFNAI-MA3, moved down to +0.33 in December from +0.40 in November.
US Raw Steel Production Down from Previous Week
In the week ending 1/22/22, US raw steel production was 1,803,000 net tons at an ACUR of 81.9 percent, down 1.6 percent from the previous week ending 1/15/22.
US Drill Rigs Running Up from Previous Week
In the week ending 1/21/22 there were 604 drill rigs running in the US, up 3 from the previous week, up 226 rigs from one year ago. Meanwhile, Canadian drillers added 21 rigs last week, up 21 rigs from the previous week, up 40 from one year ago.
Real Gross Domestic Product (GDP) Increased at an Annual Rate of 6.9 Percent in the Fourth Qtr of 2021
Real Gross Domestic Product (GDP) increased at an annual rate of 6.9 percent in the fourth qtr of 2021, following an increase of 2.3 percent in the third qtr. This is the first of 3 GDP reports for the quarter, each will be based on more complete information.
According to Wells-Fargo we should
savor the flavor because it will not last, the details behind the better-than-expected headline point to a slowing in spending and a back-up in inventories. Without the boost from inventories, GDP would have been just 2.0% in Q4.”
Just back from the Las Vegas Shot Show. It was a productive week, though with not as many attendees as in years past. Still worth attending.
Woes of Our World
Russia, China, North Korea, high inflation, supply chain disruption, rampant crime of all kinds: murder, assault, rape, car-jacking,, smash and grab robberies, open southern border, soon to rise interest rates, covid, teachers unions, wokeism, transgenderism, toxic masculinity (?), all utter nonsense. This administration has no clue as to what to do about any of these situations. It is a big problem. And this (and more) is likely to get worse before it gets better with these clowns running (ruining) our country.
If you are not stuck on CNN or MSNBC you are undoubtedly hearing that the countries with the highest percentage of “vaccinated” people are the countries with the highest levels of covid infection! What??? How does that happen? The shot is supposed to protect and stop the spread but apparently it does not. People are suffering from side effects and dying from taking the jab. And yet the idiots continue to push the “vaccine” and masking (useless), all to control the people. They don’t really give a good crap about the citizenry, only the power to control you and I… and I remain, disrespectfully, unvaccinated.
We have heard this before but now it is under the lights: Since last February the Biden administration has been chartering airplanes, at taxpayer expense, to drop illegal immigrants in cities and neighborhoods all over the country. Proof is on video taken by airport security. Once dropped off, they are provided with food, shelter, medical care and probably cash-again, all at taxpayer expense. The administration does not even speak about the mass illegal migration taking place on our southern border, they just make us pay for it. And pay for it we shall, for many years to come. Disgusting behavior for an American (in name only) political party.
Supreme Court Justice Stephen Breyer to Retire
Supreme Court justice Stephen Breyer, who has said he would retire at the end of the current judicial session in June, was outed by a leak on Wednesday. On Thursday he made his announcement. While campaigning, Biden said; if given the opportunity he would appoint a competent, highly qualified jurist to the court then he ruined it by saying “the first black woman appointed to the Supreme Court.”
Is this even close to being right? NO, it is discriminatory, maybe even racist. Think of what he is doing, this is the highest court in the country, there are only nine members. I would think the nominee should be judged on merit; what are his/her judicial accomplishments? Does he or she faithfully support our Constitution? Has the nominee been a competent jurist? What is his/her life history? Nope. Democrats don’t do that, they check boxes. It really is sad that the communists have made such inroads throughout our society and government institutions.
TERM LIMITS…TERM LIMITS…TERM LIMITS…TERM LIMITS
“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.”