US Raw Steel Production Jumped 1.9% Last Week
US raw steel production jumped 1.9 percent last week as mills operated at an ACUR of 73.3 percent. In the corresponding week last year mills operated at an ACUR of 68.7 percent. On the year mills have produced prox 7,000,000 tons compared to the prox 6,500,000 tons produced in the like period last year.
President Trump’s first days in office have proven fruitful for the steel industry and his stated policy goals should present further boosts down the road, according to top steel executives.”
I think this optimism we are seeing is a very good thing. The reason people are so excited is the focus on the economy, job creation, the manufacturing industry and investment in infrastructure.”
James R. Darsey, Executive Vice President, Nucor Corp., Charlotte
American Metal Market
The Institute for Supply Management (ISM) January 2017 Manufacturing ISM Report on Business
Economic activity in the manufacturing sector expanded in January and the overall economy grew for the 92nd consecutive month,” say the nations supply executives in the latest report.
The report was issued Wednesday by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.
The January PMI registered 56 percent, an increase of 1.5 percentage points from the seasonally adjusted December reading of 54.5 percent. The New Orders index increased, the Production index increased, the Employment index increased and inventories of raw materials also increased. The Prices index also increased indicating higher raw material prices for the eleventh consecutive month.”
The Federal Reserve Bank of Dallas January 2017 Texas Manufacturing Outlook Survey
It reports factory activity increased for the seventh consecutive month in January. The production index edged down but remained positive. The New Orders index climbed to a multi-year high. The capacity utilization index posted a seventh consecutive positive reading and the shipments index rose 10 points, with more than third of manufacturers noting a rise in shipment volumes from December.
The Chicago Business Barometer Fell 3.6 Points in January
This is its lowest level since May 2016. Following a strong Q4, the January reading made for a sluggish start to the 1st quarter of 2017.
Business activity in the New Year got off to a slow start with contracting orders and easing production weighing heavily on hiring intentions. Activity in Q1 is usually weaker due to seasonal factors so future surveys will provide a better picture of business performance.”
The Federal Reserve Bank of Chicago December Midwest Economy Index (MEI)
It reports the index increased to +0.06 in December from -0.02 in November. December’s value for the relative MEI suggests that Midwest economic growth was slightly higher than what would typically be suggested by the growth rate of the national economy.
What is the Midwest Economy Index? The index is a weighted average of 129 state and regional indicators encompassing the entirety of the five states in the Seventh Federal Reserve District (Illinois, Indiana, Iowa, Michigan, and Wisconsin). The index measures growth in nonfarm business activity based on indicators of four broad sectors of the Midwest economy: 1) manufacturing, 2) construction and mining, 3) services, and 4) consumer spending.
What do the index numbers mean? A zero value for the MEI indicates that the Midwest economy is expanding at its historical trend rate of growth; positive values indicate above-average growth (in standard deviation units); and negative values indicate below-average growth.
A zero value for the relative MEI indicates that the Midwest economy is growing at a rate historically consistent with the growth of the national economy; positive values indicate above-average relative growth (in standard deviation units); and negative values indicate below-average relative growth.
Temporary Travel Ban
Friday President Trump signed an executive order calling for a temporary halt (120 days) to immigration from countries known to have terrorist ties. The executive order does NOT name Muslims as a target but you would think the EO was named the “Stop all Muslims from entering the United States” order. My Lord, what is wrong with these people? Do we want secure borders or not?
It was fine when Obama put a six month halt to immigration from Iraq in 2011,you did not hear a word from the left at that time. Chuck Schumer shedding tears over this? What a joke. He should have received a Screen Actors Guild Award last night. Did you hear those rotten progressives railing against our country in their acceptance speeches? Let THEM take the refugees into THEIR secured homes.
Iran Ballistic Missile
Iran executed the testing of a ballistic missile this weekend (its 12th such test since signing the “deal”) in defiance of UN Resolutions…and I am sure they are NOT pursuing nuclear capability according to the “Iran deal”…right.
Regulations: Add One, Eliminate Two
President Trump on Monday signed an executive order calling for the elimination of two regulations for every one added. The dollars have to equal out, which I am not sure I agree with. If we do that, we will have half the regulations…but with the same cost. It is necessary to rid our country of the cancers on our businesses and this is not the way to do it. I suggest we eliminate 2X the cost of any new regulation. That will cut some fat off the belly of our bloated pig.
Quebec City Mosque Attack
A Moroccan, Mohamed Khadir, is the suspect in the terror attack (as Trudeau labeled the attack) on a Quebec City mosque this weekend where I believe 9 innocents perished. Last week, the pipsqueak Justin Trudeau, welcomed all immigrants to Canada in a dig at president Trump. You gotta ask yourself one question Justin: Do I feel lucky? Well do ya, punk? (Clint Eastwood 1972?)
SCOTUS Nominee Neil Gorsuch
Tuesday night President Trump announced Neil Gorsuch as his choice for the Supreme Court seat vacated by the death of Antonin Scalia last February. As expected, the left have begun their smear campaign DESPITE the fact that this man is a highly respected jurist, highly educated, a family man and a patriot. Of course, none of these means squat.
He will be confirmed, as ALL of Trump’s appointees will, whether through standard majority votes or execution of the “nuclear option” created by Harry Reid. Pay back is a mother fucker ain’t it Harry? For the life of me, I do not understand what the liberals think they are accomplishing, or can accomplish, by their childish, irrelevant behavior.
The First Eleven Days
So, the president, as of Wednesday, has been in office for 11 days. In those eleven days he has moved forward on both the Keystone XL and North Dakota pipelines. This is a start for infrastructure and deserves 1 “X”.
He has signed an executive order requiring the elimination of 2 regulations for every new regulation. “X” for starting regulation reform.
He signed an executive order to begin the rollback of Obamacare. Give him 1 “X” for starting.
He pulled the US out of the TPP, garnering 1 “X” for starting on trade reform.
He has put a temporary halt to immigration from 7 countries with known ties to terrorist activity. “XX” for extreme vetting.
His appointment of a true conservative jurist to the Supreme Court. “XX” for fulfilling that campaign promise.
I would say he has accomplished quite a bit in less than 2 weeks, hence the frantic displays of obstruction and personal attacks coming from the left, which mean “we don’t know what else to do!”
Instead of working for the benefit of the country, their insatiable thirst for power drives everything they do, the country and her citizens be damned…I think more and more people are getting wise to their games. You only need pay attention for a little while to be sickened by their bullshit.
Rex Tillerson won Senate confirmation to be Secretary of State on Wednesday, at least now he can get to work… and he most certainly has a full plate. Jeff Sessions was cleared for Senate vote to become Attorney General.
Nancy Pelosi….”tell them you are a Muslim…” thinking the mic wouldn’t pick it up at some rally. Idiots
Infrastructure X pipelines to start 1/20/17 Regulation Reform XX 1 in-2 out 1/30/17
Individual Tax Reform Entitlement Reform
Business Tax Reform Education Reform
Healthcare Reform XX repeal begun Veterans Administration Reform
Rebuild our Military Trade Reform
Secure our Borders (The Wall) Lead the world from the front
Help for the poor Drain the swamp
Peace through unmatchable strength Support Israel
Destroy ISIS Extreme Vetting XX wk of 1/23/17
Conservative Supreme Court nominees XX 1/31/17
I will track these goals and will check them off as each is 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….
“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.