Recession Warning Remains Clear from the Leading Economic Index
The recession warning remains clear from the Leading Economic Index (LEI). The LEI slipped for the 11th straight month, down 0.3% in February. The index is now about 6.5% lower than where it was a year ago and the six-month average change in the index remain s below the recession threshold of -0.4%.” Wells Fargo
Consumer Price Index (CPI) for Urban Consumers Rose in February
The Consumer Price Index (CPI) was released Tuesday morning and the index for all urban consumers rose 0.4 percent in February after increasing 0.5 percent in January. Over the last 12 months, the all items index increased 6.0 percent before seasonal adjustments.
March 2023 Empire State Manufacturing Survey Reports Business Activity Declined
The Federal Reserve Bank of New York released its March 2023 Empire State Manufacturing Survey results and reports business activity continued to decline, according to firms responding to the survey. The headline general business conditions index fell 19 points. New orders dropped significantly, and shipments declined modestly.
March 2023 Manufacturing Business Outlook Survey Reports Regional Activity Declined
The Federal Reserve Bank of Philadelphia released its March 2023 Manufacturing Business Outlook Survey results and reports manufacturing activity in the region continued to decline overall, according to firms responding to the survey. The survey’s broad indicators for current activity were all negative.
US Drill Rigs Running Down from Previous Week
There were 746 drill rigs running in the US last week, down 3 from the previous week, up 83 rigs from one year ago. Canadian drillers shuttered 23 rigs, to 223. Up 17 rigs from one year ago.
US Raw Steel Production Up from Previous Week
In the week ending March 11, 2023, US raw steel production was 1,677,000 net tons at an ACUR of 75.0 percent. Up 0.8 percent from the previous week.
Let’s see, what has happened since I left on January 28?
Norfolk Southern Railways had several derailments, one of which, in East Palestine, Ohio has been severe with polluted earth, polluted waterways, citizens with breathing problems etc. etc. Where is the Secretary of Transportation, Pete Buttegieg? He is apparently “taking time for himself…where is the idiot in the Oval Office? He did a “zoom” call. Big friggin’ deal.
The past Friday the Silicon Valley Bank filed for bankruptcy protection as a result of mismanagement and misallocation of capital. They lost $billions in customer deposits as rising interest rates blew their cover of low to zero interest loans. They were unable to service their debt. Signature Bank filed on Monday. We went through this crap in 2008 and lessons should have been learned. They were either not learned, or they were ignored. The idiot in the Oval Office, Monday morning, said this will not cost the taxpayers a single penny while insuring deposits up to $250,000. Where will all this magic dust come from, if not the American taxpayer. the idiot Bankman-Fried defrauded investors of more $billions and donated millions to Democrats. Where is all that money going to come from? More magic dust I suppose.
The war in Ukraine continues. We continue to send money and weapons of war. There is no accountability for any of these expenditures. Our politicians continue to travel to Ukraine, I suspect to pick up a suitcase full of American taxpayer dollars and return home…to steal more. Our highly esteemed Attorney General, Merrick Garland, made the trip a week or so back. Why? What does he have to do with Ukraine? Same reason as his crook partners on the Democrat left. I am fairly sure many RINO’s have made the trip to fill their own suitcases. The swamp is alive and well.
The idiot in the Oval Office approved the Willow oil exploration project in the Alaskan Arctic, while simultaneously shutting down 60 million acres to exploration in Alaska. He is not fooling anyone.
It appears the president is going to save investors (donors) from losses resulting from the bankruptcies of Silicon Valley Bank and Signature bank. Of course, the idiot lied when he told the American people that investors who took the risk would not be helped, depositors would be insured to $250,000.00, then he made a pivot to “bail out” both banks (the banks and their major investors are heavily Democrat) which will put the American taxpayer on the hook for, I think, $19 billion in losses, or, paying back those who did not do their due diligence with their investment. That is a bad joke on We the People. Where or when does it stop with these crooks?
This week Russian airplanes harassed and forced down a $31 million drone which was over international waters. The American response? 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.”