The Longest Bull Market Ended Wednesday
The longest bull market ended Wednesday as the Dow retreated 20% from its February high, which could also mean an end to the economic expansion we have enjoyed for over 10 years. Time will tell on that one.
Small Business Optimism Index Rose in February
The National Federation of Independent Business (NFIB) reported that the Small Business Optimism Index rose in February. Four of the index’s 10 components increased with the net share of business owners expecting the economy to improve.
US Drill Rigs Running Up From Prior Count
There were 793 drill rigs running in the US last week, up three rigs from the prior count, down 234 from the like period last year. In Canada, drillers had 203 rigs running, down 37 rigs from the prior week but up 14 rigs from the same period last year.
US Raw Steel Production at ACUR 81.6%
In the week ending March 7, 2020, US raw steel production was 1,903,000 net tons at an ACUR of 81.6 percent. Thus far this year mills have produced prox 18,253,000 net tons compared to the prox 18,141,000 net tons produced in the like period last year.
COVID 19 Crippling Economy … for Now
All the economic news reported is based on information gathered PRIOR to this week. With what is going on, I expect future numbers to deteriorate considerably in the short term until the Covid-19 issue is under control and something is done to stop the slide in oil prices. Could be a rough ride. Historically, 3 consecutive months of negative GDP confirms a recession, that would mean late this year-if it happens.
As I have said, this is a medical issue, not an issue of bad policy, or skyrocketing consumer prices, or a terrorist attack or some other act of war. Our economy is fundamentally sound, low inflation, low interest rates, low unemployment, less government regulation. If recession happens now, to end this long-running business cycle, we are in a good position to minimize damage and come out of it quickly.
ALWAYS REMEMBER THAT DONALD J. TRUMP HAS ,THROUGH HIS POLICIES, CREATED AN ECONOMY WHICH IS STRONG ENOUGH TO WEATHER THIS STORM, TRY AS THEY MAY, THE DEMOCRATS WILL NOT SUCCEED IN THIS, THEIR LATEST ATTEMPT TO SEPARATE TRUMP FROM HIS BASE OF SUPPORT. WE ARE STRONG, WE ARE UNITED IN OUR PATRIOTISM AND IN WHAT WE KNOW TO BE RIGHT AND GOOD FOR THE UNITED STATES. RIGHT NOW, DONALD J. TRUMP CARRIES OUR MESSAGE AND GETS IT DONE. PROMISES MADE…PROMISES KEPT
Stocks Plunge in Largest 1-day Drop Over Coronavirus Crisis on 3/16/2020
Monday…stock markets fall another 2,000 points because oil has gone into correction territory. The cost of fuel will go down, this will help business and individuals. This is good news if you look past the headlines. As far as Covid-19, as I said last week, it is a virus, to this point, much less deadly than the seasonal flu which kills 15-30,000 Americans each year.
It is not a terrorist attack, it is not an oil embargo, it is not an act of war, it will pass and then boom, our economy takes off again. Please pay no attention to the idiots in the media or the politicians trying to further economic damage and lay blame on the President. It is all bullshit.
Temporary Travel Ban from Europe
Trump has banned travel from Europe to the US as part of his containment strategy against Covid. Some are up in arms. Why? Do we want infected people entering the country-from anywhere?? It makes no sense to me to argue against this policy. Travel into the US should be temporarily stopped from any country in which the virus is known to exist. That is just common sense.
Dow Drops Another 2100 Points 3/18/2020
It is Thursday, the Dow is down another 2100 points. The NBA has suspended its season, concerts, conferences, airlines, trains all curtailing or suspending. Major League Baseball and the NHL have suspended operations. Crowds or gatherings of greater than 100 people are banned. The governor of Ohio just announced all public schools will be closed for 3 weeks beginning Monday.
This is pure insanity. I was at the local supermarket to get a sandwich for lunch, it was more crowded than just before Thanksgiving! People all stocking up to quarantine themselves. 5 people have died in the State of Ohio. Any loss of life is a tragedy but to do all of this as a result? This mania, fed by the media and the liberal left, is digging an economic hole which will take months, maybe years (depending on how long this nonsense continues) to crawl out of. Just what the Democrats want.
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….
“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.”