Empire State business activity rose modestly in January
Empire State business activity rose modestly in January, according to the Federal Reserve Bank of New York Empire State Manufacturing Survey results for January, according to firms responding to the survey. After dipping slightly below zero in December, the headline general business conditions index climbed eleven points, to 7.7. new orders increased, and shipments grew at a solid pace. Delivery times were unchanged and inventories edged down, while supply availability worsened slightly. Firms remained fairly optimistic about the outlook, with half expecting conditions to improve over the next six months.
US raw steel production up from previous week
In the week ending February 14, 2026, US raw steel production was 1,800,000 net tons at an ACUR of 77.8 percent, up 1.0 percent from the previous week ending February 7, 2026. Adjusted YTD production through February 14, 2026 was 11,357,000 net tons at an ACUR of 76.4 percent.
US drill rigs running unchanged from previous week
There were 551 drill rigs running in the US last week, no change from the previous week. Down 37 rigs from one year ago. Canadian drillers capped six rigs, to 222, down 23 rigs from one year ago.
Manufacturing Business Outlook Survey for February 2026 reports manufacturing activity expanded overall
The Federal Reserve Bank of Philadelphia released its February 2026 Manufacturing Business Outlook Survey results and reports manufacturing activity in the region expanded overall this month, according to firms responding to the survey. The current general activity and new orders indexes remained somewhat elevated, however, the shipments index declined to a near-zero reading. The employment index suggests mostly steady employment overall, but dipped into negative territory.
Estimated Q4 GDP at 1.4%
The first (advance) estimate of Q4 GDP issued by the Bureau of Economic Analysis (BEA) was issued Friday morning and came in at 1.4 percent. 3 points lower than the final estimate of 3rd quarter GDP. There will be two more estimates, and I doubt this initial estimate will stand the test of time over the next two readings. It can’t. it would mean the economy fell off the edge in the last three months of 2025 and I do not believe it did.
News Headlines
Nancy Guthrie is still missing. The FBI and local law enforcement seem no closer to finding her, which is uncanny with all the sophisticated technology we have today. We are in week three.
Wednesday afternoon 3 or so. I’m watching Fox news, the
president is speaking at an event for Black History Month. He is clearly enjoying himself. The first guests I see are Dr Ben Carson and a kid named Scott Turner, I believe, who runs HUD, works under Dr. Carson. He introduces a series of guests, all of whom praise HIM for what he has done and is doing for the black community, while he is there to honor them. They love him. The stories are real life, he is affecting peoples lives.
This brings me to why? Why is there so much hatred for this man who is doing so much good? Who loves his country? Who has compassion for the people. Who hates war, but is ready to win one. I just do not understand the hatred. It is a sickness.
The Supreme Court, in a 6-3 ruling has ruled that
the President does not have the authority to levy tariffs. The power to levy taxes rests solely with Congress, reinforcing the separation of powers. It is going to be a real shit show now. Countries will want their money back, as will companies who have paid tariffs. It cannot end well for anyone. I have no idea what the answer is. We just have to wait for the legal minds to advise.
As far as steel and aluminum go, I am advised that Section 232 tariffs on steel and aluminum will not be affected by this ruling.
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.”
