Nearing 2 Percent Fed Target Inflation Rate
Nearing 2 percent Fed target inflation rate – though the rate of inflation has diminished, the cost of goods we buy has not.
The Consumer Price Index (CPI) for All Urban Consumers increased 0.2 percent on a seasonally adjusted basis, the same increase as August and July, the US Bureau of Labor Statistics reported on Thursday. Over the last twelve months, the all items index increased 2.4 percent before seasonal adjustment.
US Raw Steel Production Down from Previous Week
In the week ending 10/5/2024 US raw steel production was 1,606,000 net tons at an ACUR of 72.3 percent, down 2.4 percent from the previous week ending September 28, 2024.
Adjusted year-to-date production through October 5 was 67.818,000 net tons at an ACUR of 76.6 percent.
US Drill Rigs Running Down from Previous Week
There were 585 drill rigs running in the US last week, down two rigs from the previous week, down thirty -four rigs from one year ago.
Canadian drillers added five rigs to 223, up forty-three rigs from one year ago.
Small Business Owners Remain Fairly Downbeat on the Economy
The NFIB Small Business Optimism Index rose 0.3 point in September. Although the outlook for business conditions has improved significantly over the past few months, so has economic uncertainty.
News Headlines
Monday was the one-year anniversary of Hamas’ brutal attack on Israel, wherein 1200 men, women and children were brutally murdered, and raped, children burned in ovens, others decapitated. These people are animals and the planet will be better off without their existence. So what happens in America? Protests in the streets against Israel. It’s a sickening display of the lack of humanity progressives feel for their fellow citizens and for the safety of our democratic stronghold in the Middle East.
Only a few weeks from the devastation of Hurricane Helene, Florida is once again a hurricane target with Milton barreling across the Gulf of Mexico as a Cat 5 hurricane. Forecast to make landfall around 1:00am Thursday morning in the Tampa Bay area with fifteen to eighteen feet of storm surge predicted, this will be devastating, sustained winds of 160 mph will make all debris from Helene deadly projectiles. Millions have left their homes to seek safety. Say a prayer for the state of Florida and her citizens.
Hurricane Milton made landfall around 8pm Wednesday night near Sarasota, as a Cat 3 storm. Tampa was largely spared of what was predicted. The breadth of the damage begins now as the sun rises.
“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.”
