The Dow Industrials Have Been on Quite a Ride This Week
What a ride…the Dow Industrials lost 1175 points on Monday…and were up 575 points on Tuesday. Wednesday morning at 10:30…Dow up 200 points. Talk about volatility…
The Dow Industrials have been on quite a ride this week, Thursday’s trading dropped the Dow another 1,000+ points and put the Industrials firmly in correction territory. If you weren’t savvy enough to get out last week, just hold on. You do not want to miss the take-off once it bottoms. The correction is unrelated to economic conditions, which are solid. The experts are saying investors see inflation and rising interest rates as the cause for this.
It was a light week in terms of new economic data but the main indicators we got all came in above expectations and point to a strong underlying domestic economy. Wells Fargo
US Raw Steel Production Rose
US raw steel production rose another 1.6 percent last week as mills operated at an ACUR of 75 percent. In the corresponding week last year, mills operated at an ACUR of 75.1 percent. Thus far this year mills have produced prox 8,269,000 tons compared to the prox 8,447,000 tons produced in the like period last year.
Nucor Steel and Republic Steel Announced Price Increases
Nucor Steel and Republic Steel announced price increases, effective April 1, of $40/per ton for special bar quality (SBQ) hot rolled and cold finished bars and applies to all SBQ carbon and alloy round, hex and flat bars products, and $50 per ton for hot rolled heat treated bar. In terms of cold finished bar, Nucor is raising base prices on “all round, flat and hexagonal products” of all sizes and grades by $50/per ton. AMM
Two Year Budget Passed
This is simply ridiculous; the government is passing a 2-year budget which will add $300 billion to the deficit. $161 billion for the military, which is fine, it is needed in this crazy world. $131 billion for entitlement spending is just wrong and is contrary to conservative thinking. So, the American taxpayer is paying for entitlements to buy votes for democrats? Is this what our politics have become? That is very sad and very wrong.
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”
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.”