The Dow Industrials topped 20,000 Wednesday morning in early trading. Trump Trade…
CFNAI Increased in December
Led by improvements in production related indicators the Chicago Fed National Activity Index (CFNAI) increased to +0.14 in December from -0.33 in November. Three of the four broad categories that make up the index increased from November.
The index’s three month moving average (CFNAI-MA3) edged up to -0.07 in December from -0.14 in November. December’s CFNAI-MA3 suggests growth in national economic activity was slightly below its historical trend.
Leading Economic Index Jumped 0.5 Percent
The Leading Economic Index (LEI) jumped 0.5 percent in December. This month’s release incorporates annual benchmark revisions to the composite economic indexes which brings them up to date with revisions in source data. The topline number was buoyed by six of the ten underlying components. The index is near the high it reached in late 2005 and portends continued economic growth.
Real GDP Increased at Annual Rate of 1.9 Percent in Q4 2016
Real gross domestic product (GDP) increased at an annual rate of 1.9 percent in the fourth quarter of 2016 according to the “advance” estimate released by the Bureau of Economic Analysis (BEA).
The Bureau emphasized that the fourth quarter advance estimate (the first of three) is based on source data that are incomplete or subject to further revision by the source agency. The “second” estimate will be released February 28, 2017.
Heightened Optimism for Domestic Economy
The University of Michigan’s consumer sentiment index held on to its post-election gains in January. The index inched up to a fresh cycle high largely fueled by heightened optimism for the domestic economy.
Wells Fargo Economics
Fifth District Manufacturing Activity Strengthened in January
The Federal Reserve Bank of Richmond issued its Fifth District Survey of Manufacturing Activity and reports manufacturing activity strengthened in January with continued growth in new shipments and the volume of new orders.
Number of Drill Rigs Running in the US Hit Highest Total Since December 15
The number of drill rigs running in the US rose by 35 last week, a 13 month high, led by Texas, up 17, marking the highest total since reaching 698 during the last week of December 2015.
US Raw Steel Production Dipped
US raw steel production dipped 0.8 percent last week as mills operated at an ACUR of 71.8 percent. In the corresponding week last year mills operated at an ACUR of 68.7 percent. Thus far this year mills have produced prox 5,000,000 tons compared to the prox 4,800,000 tons produced in the like period last year.
Daily Steel Output in China Averages 1.71 Million Tons DAILY
Meanwhile, on a faraway planet…Daily steel output in China averages 1.71 million tons PER DAY. In other words, they produce in 3 days what we have produced in 3 weeks. Unfortunately a good portion of their production lands here.
Madonna wants to blow up the White House…very peaceful
Women marching against Trump for “female dignity”…yet they wear hats and costumes depicting a vagina. Very dignified indeed.
After their protest, they leave ALL of their garbage in the streets…these are the “green” people. In reality, they are self-serving pigs who care only for themselves.
The next four years are going to be a real journey folks, let me tell you. Tighten your seat belts…
Trump Dumps TPP
Trump officially withdrew American participation in the Trans Pacific Partnership on Monday. I have no idea if he wants to re-negotiate the deal of just let it lie dead. If there is a better “America first” way to increase trade on a fair basis-go for it. There seem to be many on both sides of this debate.
An executive order has been signed to repeal or remove some parts Obamacare, as a start.
The Keystone XL and Dakota Pipeline agreements have been brought back to life by the president, more good paying jobs for the American people.
Obama sent $221 million to the Palestinian authority on his way out the door, plus another $6 million for something else. I have heard the money to the Palestinians is necessary and good…and I have heard it is a bad move. I don’t know how or why the president did it without the approval of Congress so it does not sound good to me… I do not yet have enough information to dispense. To be continued…
Voter Fraud…does anyone remember the voter fraud accusations during Obama’s two terms? Black Panthers standing in the doorways of voting establishments? Stories of dead people voting, of sending busses to pick people up to vote, the big push to eliminate requiring an ID in order to vote?
Trump believes there was voter fraud; the left says he has no proof. Where is the proof that there was not voter fraud? In those places which do not require an ID to vote do you really believe there are no shenanigans going on? Come on people, let’s be logical.
Voter fraud most certainly exists, to what degree probably cannot be determined. Requiring an ID to cast your vote would be a good start.
Making Good on Promises
Trump pledged to ease environmental regulations and cut corporate taxes for US car manufacturers after meeting with executives of Detroit’s Big Three on Tuesday. WSJ
Trump is also set to expedite plans for a border wall, ban entry into the US of people from countries that pose a national security threat and suspend the refugee program. WSJ
Trump signed two executive orders on Wednesday: one calls for a “large physical barrier” on the southern border with Mexico. The second would tighten immigration enforcement inside the US, in part by compelling local law enforcement agencies to turn over undocumented immigrants to federal authorities (sanctuary cities). Keep the ball rolling…
In my view, I do not care who pays for the wall. I want our borders secured to stop the flow of drugs and illegal aliens into our country.
Border Adjustment Tax
I also support the proposal for a Border Adjustment Tax to be levied on any company exporting goods into the United States. Every other country taxes the goods we export to them. We have been too lenient about this. The fact of the matter is the United States can no longer afford to be everyone’s wet-nurse.
There was certainly a time, after World War II when we were in the fortunate position of having the wealth and economic ability to help all freedom seeking peoples. Those days are over and we just cannot afford to do this any longer, at least until we get our own house in order.
As far as the rift between President Trump and President Nieto of Mexico, I believe they will work it out. The value of trade between both countries is too important and vital to both the United States and Mexico.
The fact that we run a $60 billion an annual trade deficit with Mexico should tell you something about the worth of “free” trade versus the value of “fair” trade to America. These are tough stances the president must take, but the stakes are very high.
I suspect that we will ALL suffer in one manner or another as the administration finally sets its sights on setting our country on the right path. There has been too much wrong done for way too long. Yes, it will hurt but we will all be stronger and the nation will be stronger on the other end.
- Regulation Reform
- Individual Tax Reform
- Entitlement Reform
- Business Tax Reform
- Education Reform
- Healthcare Reform
- Veterans Administration Reform
- Rebuild our Military Trade Reform
- Secure our Borders
- Lead the world from the front
- Help for the poor
- Drain the swamp
- Peace through unmatchable strength
- Support Israel
- Destroy ISIS
- Energy Independence
I will track these goals and will check them off as each is (hopefully) accomplished and I will add 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 every step of the way….
“MAKE AMERICA GREAT AGAIN”
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.