What the 'Great Trucking Recession' Is Warning Us About the Economy

In other words, the spending spree of printed money is grinding down and we might return to something more like a normal spending pattern? Lets hope so.

Meanwhile, we still have the mountain of M1 and M2 printed money looming over us along with higher interest rates and now inflated cost of everything.

Trillons are still being wasted on xiden programs that will go nowhere. Try to picture how to spend $32,000,000 per mile of railroad tracks that already are in place. Only by waste can you do that. It is just one small example of the xiden waste our money is being used for.

Prepper Ping - The 'Supply Chain' gets even tighter, and with increasing jeopardy
This article is about truckers and dropping transport rates, however trans-oceanic shipping (Baltic), rail, and air flights similarly affected
A combination of increased expenses, inflation, new trucking vehicles, increased competition, and a drop in consumer demand resulted in the demise of Yellow Trucking

"..Two months ago, 30,000 truckers at Yellow lost their jobs when one of the nation’s oldest and largest trucking companies filed for Chapter 11 bankruptcy protection.
Last week, Convoy, the digital freight broker that was supposed to reinvent the wheel and disrupt the trucking industry in a positive way,
also abruptly shuttered its doors.

"These kinds of closings by both freight carriers lay bare the uncertain state of trucking,
an industry that is an indicator of the mood of the consumer and also the beating heart of our economy. "

“In my opinion, this industry is heading in the wrong direction, and when trucking and supply chain freight is heading in the wrong direction, so is the country.
I am just not sure that people understand there is a problem,” said Rick McQuaide, who runs a freight company
in Cambria County, Pennsylvania, as well as in Florida. "

"“The damage started when people went on a spending spree during COVID-19.
The government was giving out cash, and people started ordering things in a way they have never done before,” McQuaide explained. As a result, McQuaide said, new trucks were on the road to meet the consumers’ needs. "

"Beginning last year, that need started to recede when consumers’ spending spree started to ebb, and, as a result, several different things have happened in the industry,
beginning with too many trucks in comparison to the amount of freight that is available."

"That, McQuaide said, hits the truckers and truck companies hard: “The economy is slowing from its frenzy, people aren’t buying anymore,
which means there are more trucks on the road than there are loads, and it’s forcing the rates down.”

"McQuaide said his company’s rates are about 20% lower than last year." (Emphasis Mine)

“In other words, last year, we go from Pittsburgh to Allentown, maybe $1,200. This year, we’re lucky to get $900,” he said,
adding, “You have more truckers fighting for the same loads that exist now, and that’s driving the rates down.”
Truckers are making less than they did in per-mile peak earnings, McQuaide said.

"“Inflation plays a big part of that — at the same time, operating costs are going up.”
McQuaide, who also owns and runs a logistics company that has a series of warehouses holding imports and exports, says the freight recession is real."
“It isn’t just in the trucking world. It is also in air freight and in the rail industries.”

I just don’t know where consumers are going to go. They suggest consumers are still there, but how? Data shows credit card debt is at record levels. Savings rates are dropping, and auto repossessions are at increasingly high levels. Food costs are insane. Rents are crazy. How much longer can the consumer hang on?

Here’s the ongoing dishonest trick all the Deep State government economic bureaus are using. When any given economic statistic report is due, it is reported in the with the most optimistic numbers possible, and then a couple of months later that reported number is “revised downward”. Every single time. So the dishonestly optimistic headline is reported and the always quietly revised downward a couple of months later. It is the ongoing charade.

Your post proves that point - If the apples aren’t native, they are being shipped.

All of my apples are native and the prices still aren’t that bad. But I also pay $1.50 for an individual navel orange. 4Runner, what’s your price ? Less?

I fully agree with 4Runner though. All of these companies howling their pity-sing have executives that are taking millions from the companies. Some aren’t, but most are.

Like when I hear about companies like Uber and Walmart crying about costs and then watch their executive boards take in millions every quarter. I’m not buying it.

Even local restauranteurs - I’ve been working with them since the plandemic and got to be good friends with them. They are all saying “People are too lazy to work now” but then I walk people in to apply for jobs and they are turned away. The smaller staff is doing more work for the same money - where is the motivation to change? The owners are walking away with almost twice what they used to and just laying more work on the employees that they have.

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