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This clearly illustrates the decline in economic activity and the destruction of growth upon which the resolution of the debt crisis is predicated.
14 October, 2011
Weak shipping reports have now spread to rail traffic, truck traffic, and ocean shipping. We will look at each of those in turn, but first a brief recap on the Unprecedented Drop in Port Traffic: A Sobering Omen for Holiday Sales.
The five busiest container ports in the United States said that imports in August 2011 were lower than or even with 2010 volumes. In Long Beach, the second-busiest container port by volume, August imports fell by 14.2 percent from August 2010.
Many analysts remain optimistic about a strong Christmas season anyway, prompting me to write ....
So what are analysts thinking? Or are they thinking at all?
Shippers don't see it, the labor market does not see it, and consumer sentiment does not reflect more willingness to spend. Are analysts giddy over this 1-week rally in the stock market or are they simply cheerleading "rah rah sis-boom bah" as they do 99% of the time?
Railfax Rail Traffic Year-over-Year Percent Change 13 Week Rolling Averages
Chart courtesy of Railfax
The steady deterioration in the rail indices is obvious. The next set of charts is even worse.
Harper Petersen Shipping
For rest of article GO HERE
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