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As if open borders, sky high murder rates, rampant inflation, and the threat of WW3 aren't enough - let's throw a recession log on the ole' Biden dumpster fire.
Quote:
According to data compiled by Reuters, the demand for trucking every kind of product from food to furniture has been in a free fall since March. And one segment of the industry that deals with on-demand trucking, known as the "spot market," has been hit especially hard.
"It basically just dropped off a cliff," said Craig Fuller, the CEO of transportation data company FreightWaves, in conversation with the news agency.
The demand-sensitive spot market is now in correction territory, Reuters reported. Average first-quarter spot rates, excluding fuel, plummeted 55 cents per mile from $2.78 in mid-January to $2.23 on April 14. A slight downtick is reportedly common for that time of year, but the industry normally only sees a 22 cent per mile decrease.
Those familiar with the trucking industry know spot market trouble is rarely an isolated incident.
One expert, Joseph Rajkovacz, who serves as director of governmental affairs for the Western States Trucking Association, described it as the "proverbial 'canary in the mineshaft,'" meaning it is an early indicator of coming danger.
Analysts fear the downward trend could soon "decimate truckers' ability to dictate prices and push some small trucking firms into bankruptcy," the outlet stated. But not only that, it could foreshadow a wider recession across all sectors of the U.S. economy.
Stated another way, decreased trucking activity typically means only one thing: Consumer retail activity is down.
American consumers, hurt by historically high inflation and global supply chain crises, have cut back on spending.
America could slide into recession just in time for the mid-terms...and that would help ensure the Democrats get exactly what they deserve for creating this situation.
oil is used for fertilizer AND medicine as the climate people have said for eons, the ukraine/russia are in a WAR accounts for about one quarter of grain production...the trump/china trade deal disrupted long standing supply routes
if you paid more attention to this than CRT and disneyland maybe you would not be shocked
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