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January 28, 2009
Big Shipping Decline
Trucking tonnage declined by a seasonally adjusted 11.1% in December. Which puts us back to the level of December 2000. Very serious to be sure. The end of the world? I doubt it. However we still may have further to fall. As the Obama administration is fervently working on an economic stimulus package the get the U.S. economy on track, it is clear the freight transportation market is still feeling the pain, based on the most recent truck tonnage index release from the American Trucking Associations (ATA).How about a little explanation of what this means for the economy? Coming right up. "Motor carrier freight is a reflection of the tangible-goods economy, and December's numbers leave no doubt that the United States is in the worst recession in decades," said ATA Chief Economist Bob Costello in a statement. "It is likely truck tonnage will not improve much before the third quarter of this year. The economy is expected to contract through the first half of 2009 and then only grow slightly through the end of the year."Now if we could just get the government to stop fooling with the economy maybe things would have a chance to reach an equilibrium on their own. All the government is doing is adding uncertainty and dead weight to the economy. It seems that the geniuses in government don't understand that the purpose of recessions is to shed dead weight. Once enough dead weight is shed uncertainty declines and we are prepared for the next advance. Cross Posted at Power and Control posted by Simon on 01.28.09 at 09:51 AM |
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