On this week in 1982, Survivor’s “Eye of the Tiger” capped off a triumphant six-week reign atop the US charts. Crafted specifically for Rocky III at the request of Sylvester Stallone—after he couldn’t secure Queen’s “Another One Bites The Dust”—this anthem did more than just set the tone for a movie; it became a piece of Americana.

Before this smash hit, Survivor was on the ropes, with two previous albums barely making a dent in the music scene. They were on the verge of being dropped by their label, teetering on the edge of obscurity. But fate had other plans. Along came a gritty, sweaty-toothed boxing saga starring Mister T, and in one swift uppercut, Survivor was launched into the stratosphere of music history.

With its iconic guitar riff (designed to echo the rhythm of a fighter's punches) and lyrics that hit like a heavyweight (“for the kill with the skill to survive”), “Eye of the Tiger” is the ultimate battle cry. Whether you’re aiming to PR in the gym, conquer a 5K, or just crush life while pitying those fools who can’t keep up, this song is for your personal soundtrack. 

This month’s economic indicators are a lot like that, rising up to the challenge of its rivals: inflation and interest rates. Consumer spending, wages, and labor-force participation are all up or holding steady year-over-year, while the unemployment rate has dropped to an incredible 1.8%. And for the first time in history, the Rapid City trade area has surpassed 81,000 in employment—a record high. Sure, the summer tourist season gave us a boost, but a record is a record, no matter how bad your uppercut.

Now, we’re keeping an eye on building permits and valuation, which are lagging behind last year’s numbers. But don’t throw in the towel just yet—this could be a temporary dip, with a strong rebound likely next year.

Even better news could be on the horizon—the Fed is expected to cut interest rates this month. If you’ve been following these updates, you know we’ve been advocating for this move. With Midwest inflation hovering around 2.4%, the heavy lifting is done—it’s time for the Fed to step back. Better late than never, right?

In the next 90 days, we’ll know more.  Will it mean cheaper financing for businesses and the soft landing we’ve been promised?  Or will that chump known as corporate layoffs be looking for a rematch?  Stay tuned.

Stay safe and God-speed.

Tom