US Drill Rigs Running Up 204 Rigs from One Year Ago
Up 204 rigs from one year ago, there were 470 drill rigs running in the US last week, up 9 rigs from the previous week. Meanwhile, Canadian drillers added 24 rigs to total 117 in operation, up 100 rigs from one year ago.
The LEI Moved Up 1.3% in May
The Leading Economic Index (LEI) continued to rise in May, moving up by another 1.3% after reaching its first post-Chinese virus high in April. The strength was broad-based, with seven out of ten components positively contributing on the month. The index would be even stronger, were it not for continued supply constraints.
CFNAI Increased to +0.29 in May from -0.09 in April
Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.29 in May from -0.09 in April. Three of the four broad categories of indicators used to construct the index made positive contributions in May. The index’s three-month moving average, CFNNAI-MA3, rose to +0.81 in May from +0.17 in April.
US Raw Steel Production Up 0.3% from Previous Week
In the week ending June 19, 2021, US raw steel production was 1,839,000 net tons at an ACUR of 82.9 percent, up 0.3 percent from the previous weeks production.
Manufacturing Activity Expanded in June
The Federal Reserve Bank of Richmond released its Fifth District Survey of Manufacturing Activity and reports manufacturing activity expanded in June. The composite index rose, driven by an increase in the new orders index while the other two component indexes-shipments and employment, also remained in expansionary territory. Manufacturers continue to report shrinking inventories, growing order backlogs and lengthening vendor lead times.
The Economy is Expanding
The idiot in the Oval Office, this week has taken credit for the expanding economy, even though he had nothing to do with it and EVERYTHING he has done, or will do, is counter-productive and will impact the lives of all Americans in a negative way.
By the way, where is Nancy Pelosi? We haven’t heard a peep out of that windbag in some time…not that I mind. While we are on it, where is Hunter? Adam Schiff, Jerry Nadler? The worms all went back underground…where they belong.
$1.2 Trillion Infrastructure Deal Reached in Senate
On Thursday, Biden and the senate reached a deal on a $1.2 trillion infrastructure deal, but hold your horses because Pelosi says the bill will not get past the House with another spending bill which would have to be passed through reconciliation, meaning they would not have bipartisan agreement. All horse shit.
Giuliani’s Law License Suspended
In an obviously rude display of political attack, Rudy Giuliani’s New York law license was suspended by a court that concluded he made false statements in an effort to reverse the 2020 election results. More horse shit from the left. This requires no explanation; Giuliani is a patriot.
“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.”