Overall Economy Notching Six Consecutive Months Growth
With the overall economy notching six consecutive months growth, the Institute for Supply Management (ISM) October 2020 Manufacturing ISM Report on Business reports economic activity in the manufacturing sector grew in October.
The October Manufacturing PMI registered 59.3 percent, up 3.9 percentage points from September and the highest level since September 2018 (59.3). This figure indicates expansion in the overall economy for the sixth month in a row after the April contraction, which ended a period of 131 consecutive months of growth. The New Orders index increased 7.7 percentage points, the Production Index increased 2 percentage points. The Order Backlog Index increased 0.5 percentage point. The Inventories Index increased 4.8 percent from September.
Productivity Rose 4.9% Annualized
Productivity rose 4.9% annualized in the 3rd quarter as the rebound in output outpaced hours worked. The surge reflects the re-opening in Q3 and, in my view, is indicative of a broader trend.
US Drill Rigs Running Up 9 From Previous Week
There were 296 drill rigs running in the US last week, up 9 from the previous week, down 526 rigs from 1 year ago. Canadian drillers added 3 rigs for a total of 86, which is down 56 rigs from 1 year ago.
US Raw Steel Production Close to Healthy
In the week ending 10/31/20 US raw steel production was 1,557,000 net tons at an ACUR of 70.4 percent, up 1.0 percent from the previous week. We are getting close to healthy…
Employment Rate Dropped to 6.9% in October
The unemployment rate has dropped to 6.9% from 7.7% as 638,000 jobs were created in October.
RIP Sean Connery
Over the past weekend we lost Sean Connery, 007, James Bond. I must say the man had quite an impact on my young (at the time) life. Handsome, suave, a true class act. Throughout his career he made so many great movies. RIP
American Hostage Rescued
Over the weekend and American hostage held by a group of armed men in West Africa was rescued by SEAL Team 6 on October 31. 27-year-old Philip Walton was kidnapped in Niger early last week when six armed men took him across the border into northern Nigeria. Walton lives with his wife, young daughter and a brother on a farm near the border with Nigeria.
The Morning After Election Day
It is Wednesday morning, Biden has 238 electoral votes, Trump has 213, Nevada, Wisconsin, North Carolina, Georgia and Pennsylvania are still in play with the mail in ballots yet to be counted.
These are purported to be heavily Democrat voters. We will not have an answer for a week or so. Republicans did hold the senate which should stop any stupid laws from being presented to Biden for his signature into law.
Trump calls for a recall in Wisconsin as more ballots are counted than there are registered voters in the state! At 2:55 PM I received a WSJ news alert announcing Biden has won Wisconsin. Sounds a little fishy to me.
It now appears Republicans will lose the White House. As you know, I am not a fan of this outcome. The Senate is still up for grabs, if we lose that, the progressives will have their way with our country. I cannot imagine the outcome will be good, unless you want higher taxes, more government regulation and a host of other socialist demands to rule your life.
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….
As of September 2018: Trump Administration Accomplishments
As you can see above, the listed accomplishments are from 2 years ago. Many more victories for America and the American people have been added to the list below since that time.
* Almost 4 million jobs created since election.
* More Americans are now employed than ever recorded before in our history.
* We have created more than 400,000 manufacturing jobs since my election.
* Manufacturing jobs growing at the fastest rate in more than THREE DECADES.
* Economic growth last quarter hit 4.2 percent.
* New unemployment claims recently hit a 49-year low.
* Median household income has hit highest level ever recorded.
* African American unemployment has recently achieved the lowest rate ever recorded.
* Hispanic-American unemployment is at the lowest rate ever recorded.
* Asian-American unemployment recently achieved the lowest rate ever recorded.
* Women’s unemployment recently reached the lowest rate in 65 years.
* Youth unemployment has recently hit the lowest rate in nearly half a century.
* Lowest unemployment rate ever recorded for Americans without a high school diploma.
* Under my Administration, veterans’ unemployment recently reached its lowest rate in nearly 20 years.
* Almost 3.9 million Americans have been lifted off food stamps since the election.
* The Pledge to America’s Workers has resulted in employers committing to train more than 4 million Americans. We are committed to VOCATIONAL education.
* 95 percent of U.S. manufacturers are optimistic about the future-the highest ever.
* Retail sales surged last month, up another 6 percent over last year.
* Signed the biggest package of tax cuts and reforms in history. After tax cuts, over $300 billion poured back into the U.S. in the first quarter alone.
* As a result of our tax bill, small businesses will have the lowest top marginal tax rate in more than 80 years.
* Helped win U.S. bid for the 2028 Summer Olympics in Los Angeles.
* Helped win U.S.-Mexico-Canada’s united bid for 2026 World Cup.
* Opened ANWR and approved Keystone XL and Dakota Access Pipelines.
* Record number of regulations eliminated.
* Enacted regulatory relief for community banks and credit unions.
* Obamacare individual mandate penalty GONE.
* My Administration is providing more affordable healthcare options for Americans through association health plans and short-term duration plans.
* Last month, the FDA approved more affordable generic drugs than ever before in history. And thanks to our efforts, many drug companies are freezing or reversing planned price increases.
* We reformed the Medicare program to stop hospitals from overcharging low-income seniors on their drugs-saving seniors hundreds of millions of dollars this year alone.
* Signed Right-To-Try legislation.
* Secured $6 billion in NEW funding to fight the opioid epidemic.
* We have reduced high-dose opioid prescriptions by 16 percent during my first year in office.
* Signed VA Choice Act and VA Accountability Act, expanded VA telehealth services, walk-in-clinics, and same-day urgent primary and mental health care.
* Increased our coal exports by 60 percent; U.S. oil production recently reached all-time high.
* United States is a net natural gas exporter for the first time since 1957.
* Withdrew the United States from the job-killing Paris Climate Accord.
* Cancelled the illegal, anti-coal, so-called Clean Power Plan.
* Secured record $700 billion in military funding; $716 billion next year.
* NATO allies are spending $69 billion more on defense since 2016.
* Process has begun to make the Space Force the 6th branch of the Armed Forces.
* Confirmed more circuit court judges than any other new administration.
* Confirmed Supreme Court Justice Neil Gorsuch and nominated Judge Brett Kavanaugh.
* Withdrew from the horrible, one-sided Iran Deal.
* Moved U.S. Embassy to Jerusalem.
* Protecting Americans from terrorists with the Travel Ban, upheld by Supreme Court.
* Issued Executive Order to keep open Guantanamo Bay.
* Concluded a historic U.S.-Mexico Trade Deal to replace NAFTA. And negotiations with Canada are underway as we speak.
* Reached a breakthrough agreement with the E.U. to increase U.S. exports.
* Imposed tariffs on foreign steel and aluminum to protect our national security.
* Imposed tariffs on China in response to China’s forced technology transfer, intellectual property theft, and their chronically abusive trade practices.
* Net exports are on track to increase by $59 billion this year.
* Improved vetting and screening for refugees, and switched focus to overseas resettlement.
* We have begun BUILDING THE WALL. Republicans want STRONG BORDERS and NO CRIME. Democrats want OPEN BORDERS which equals MASSIVE CRIME.
“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.”