The quote of the week comes from Bob Costello, Chief Economist of the American Trucking Association who is warning of an economic slowdown:
ATA Chief Economist Bob Costello said that the two sequential decreases reflect aneconomy that is slowing. Furthermore, growth in truck tonnage is likely to moderate in the months ahead as the economy decelerates and year-over-year comparisons become more difficult. Nevertheless, Costello believes that tonnage doesn’t have to grow very quickly at this point since industry capacity has declined so much. “Due to supply tightness in the market, any tonnage growth feels significantly better for fleets than one might expect.”
This came on the back of yesterday’s data release showing the second consecutive month of declines in truck tonnage:
The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 1.4 percent in June, although May’s reduction was revised from 0.6 percent to just 0.1 percent. May and June marked the first back-to-back contractions since March and April 2009. The latest reduction lowered the SA index from 110.1 (2000=100) in May to 108.5 in June.More Here..
I have a friend who owns a small trucking firm, he runs large box trucks to vans in the detroit area. He said years ago how things were slowing down, now he says things have almost stopped and he and his partner make all the runs themselves, he has also had a big problem with getting paid especially by the auto companies. He does not know if he will be in business a year from now as he is not drawing a paycheck but using all the money that comes to pay bills and service debt.
ReplyDeleteThis is an ominous sign.
ReplyDeleteFortunatly for those of us who really pay attention; there are several indicators that
ReplyDeletethe elite powers that be cannot bend, distort,
rollover, counter and contradict.
One of them is domestic freight and I keep track of both rail and trucking and like this article states; they are both suffering, even after reducing fleet sizes.
Recovery my ass - I believe gerald celente is right; we are going to see the greatest depression before the clock strikes midnight on
Jan.1 2011 and there will be no doubt left in anyone's mind where we are at. The lying will be over, the distortions will all be in full view and the dumb sonsabitches who have been feeding us all these lies will burn.
Yeah, it's also contracting back to back months of May and June - the 2 months of the year that are normally the highest volume because of building and produce. What the hell do they think is going to happen in November?
ReplyDeleteWhat do they think is going to happen in November? Well I know what is going to happen in November. In November something huge is going to happen. Want to know what it is?
ReplyDeleteIt is going to be HUGE! In November a huge waste of energy will take place as everyone scrambles to vote in a bunch of losers that won't change a damn thing. That's what will take place in November. Oh yeah and until then everything will continue getting worse, it is possible the decay will accelerate like it has been this year so far.
Hopefully this doesn't have to drag on any further and we can have a sudden collapse rather than this relatively slow, steady, and officially denied annihilation. In the meantime I'm going to cringe whenever my family puts the delusion box on (television). I'm also going to stay away from idiots who are oblivious to anything as much as possible, I don't even want to encounter them. They talk about their lives, but their lives are literally based on lies. Their/Our lifestyles are about to end, but these people still talk as if they're in the 80s.
I'm willing to work with them once it all happens and they no longer are trapped inside their psychosis. I'll be happy to, but at this point the collective schizophrenic condition is just plain demented - two most general types of people exist now. The first kind are delusional without knowing, the second are delusional but realize it.
Is this the dividing of the multitudes? Or is society specifically designed to make people fat, lazy, dumb, and miserable so that when people move into the contrary direction of the deteriorating conditions of humanity they can recognize how insane it is?
Being a retired railroader of 35 yrs I can tell you that unlike everything else in this shithole economy that has had to cut back, scale down, etc. the lengths of trains have increased to 240 cars-that`s 3 miles+ of train in some cases, and trucks are now doing double B-trains. Now imagine those massive trucks bearing down on you at 70mph with clumps of potholed ashphalt freeway smashing through your windshield because of NO highway maintainance in order to give some dirtbag official a cushy pension. Yes, we see the elephant in the room- and it is a MONSTER!
ReplyDeleteFor the Economy to slow it must have accelerated at one stage, which no one here admitted. We were in a recovery and now the recovery is slowing......so you do admit we are in a recovery even though it is slow, it is a recovery.
ReplyDelete