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Old Yesterday, 04:38 PM
Status: "This space for rent." (set 1 day ago)
 
Location: Columbia, SC
7,342 posts, read 4,461,489 times
Reputation: 8863

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Quote:
The CEO of giant East Coast railroad operator CSX is sounding alarm on the U.S. economy as it weighs on the company’s shipping volumes.

“Both global and U.S. economic conditions have been unusual this year, to say the least, and have impacted our volumes. You see it every week in our reported carloads,” Chief Executive James Foote said on a conference call Tuesday after the earnings report. “The present economic backdrop is one of the most puzzling I have experienced in my career.”

Foote has worked in the railroad industry for more than 40 years and has been CEO of CSX since 2017.
CEO of railroad giant CSX says the economy is the ‘most puzzling’ he’s seen as stock plummets

I follow railroads both literally and figuratively (literally for photography) and railroads typically are a sign of the economic times. I had a photo in Trains Magazine a few years ago where they reported the auto industry was about to turn around based on carloadings of, well, cars. A few months later, I began seeing the same reports in the mainstream media.

I'm no economist. I'm not claiming this means anything in the broad sense. CSX has never been known as the best run railroad in the business,
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Old Yesterday, 04:40 PM
 
79,448 posts, read 33,670,997 times
Reputation: 15893
The economy is broken. That is not a secret.
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Old Yesterday, 04:44 PM
Status: "This space for rent." (set 1 day ago)
 
Location: Columbia, SC
7,342 posts, read 4,461,489 times
Reputation: 8863
Quote:
Originally Posted by pknopp View Post
The economy is broken. That is not a secret.
Depends on who you talk to, apparently.
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Old Yesterday, 04:45 PM
 
79,448 posts, read 33,670,997 times
Reputation: 15893
Quote:
Originally Posted by Joe the Photog View Post
Depends on who you talk to, apparently.
Trump doesn't count.

Trump's top economic advisor noted it was.
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Old Yesterday, 04:53 PM
 
79,448 posts, read 33,670,997 times
Reputation: 15893
It just doesn't smell right given the strength of the economic data," said Chris Rupkey, chief financial economist at MUFG Union Bank.

https://www.cnbc.com/2019/07/17/the-...omic-data.html
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Old Yesterday, 04:58 PM
 
1,162 posts, read 246,232 times
Reputation: 1749
"Puzzling" comes from artificial market distortions caused by central banks.
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Old Yesterday, 05:02 PM
 
1,097 posts, read 241,169 times
Reputation: 1160
Quote:
Originally Posted by Joe the Photog View Post
Depends on who you talk to, apparently.
It's cyclical - I tend to ignore the irrational exuberance types like Trump.
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Old Yesterday, 05:03 PM
 
79,448 posts, read 33,670,997 times
Reputation: 15893
Quote:
Originally Posted by TBMorgan View Post
It's cyclical - I tend to ignore the irrational exuberance types like Trump.
There is nothing cyclical about record high markets. Very low unemployment and the Fed still contemplating cutting rates.
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Old Yesterday, 07:32 PM
 
6,773 posts, read 6,561,864 times
Reputation: 5064
Carloads of automobiles are doing what now? Going down or up? I have heard the auto industry is not doing that great on the sales lots.
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Old Yesterday, 07:35 PM
 
Location: Central Illinois -
21,594 posts, read 14,381,404 times
Reputation: 14733
Quote:
Originally Posted by heart84 View Post
"Puzzling" comes from artificial market distortions caused by central banks.
Or trade wars.
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