Interest rates unchanged
Interest rates unchanged at 4.25-4.5% per the Federal Reserve and, according to Powell, they are waiting for the tariff dust to settle before making any move to lower-or raise-rates, as the case may be. He mentioned the rate of inflation is nearly at the stated goal of 2%, that is a good thing.
US raw steel production up from previous week
In the week ending May 3, 2025, US raw steel production was 1,725,000 net tons at an ACUR of 76.8 percent, up 1.1 percent from the previous week ending April 26, 2025. Adjusted YTD production through May 3, 2025, was 29,326,000 net tons at an ACUR of 74.8 percent.
US drill rigs running down from prior week
There were 578 drill rigs running in the US last week, down six rigs from the prior week, down twenty-five rigs from one year ago. Canada ran with 114 rigs last week, down 6 rigs from the prior week, down two rigs from one year ago.
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
Ok. I am tired of hearing about the decline in GDP and the terrible effects of the Trump tariffs. GDP; this was the first of three estimates, and as many estimates before, it will be revised, that is why they report over a three month period. There are numbers missing which would have made the number a positive 2 percent plus for growth in the quarter. This will come out in the subsequent estimates.
Tariffs: If congress gets off its ass and makes the 2017 tax cuts permanent, in addition to adding the tax cuts the president has proposed, the trade deals in negotiation now are agreed to, we will definitely experience a “new Golden Age” in America, our economy will take off like a rocket. Trade with China will be handled on its own because of the economics involved. Thing is, China has no where else to go with their products, I mean, they do, but there is no consumer like the American consumer. They need us way more than we need them. It is time for the masses to get behind our president, what he aims to do is good for the American people, and consequently the world.
Thursday afternoon an American from Illinois was named pope and will go by the name of Leo XIV.
The first of many trade deals was completed Thursday between the UK and the USA, of course, the left is screaming it is a nothing burger, but as usual, they are spewing lies. Non-tariff barriers are being removed, tariff rates are lowered on our export products and many more good details I have not yet read about. I think Japan and India are next in line. I don’t know why reporters keep saying Trump is retreating. That is just stupid thinking. My grandson can see that the high tariff rates have had the desired effect; countries have lined up to fix the trade imbalances with the USA. It is called “NEGOTIATING,” it seems these idiots are unfamiliar with the term, or the way our president works. It would behoove them all to pay attention, instead of vomiting their hatred of Trump with continual lies and assumptions about things of which they know little-or nothing.
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.”
