Thursday, August 20, 2009

More Evidence of Economic Non-Stabilization

June freight rail traffic was down 19.5% in June 2009 from June 2008. This was the eighth straight double-digit monthly rail carload decline. This statistic is important because there is a very high correlation between rail freight traffic and GDP. Interestingly it would appear from scanning the report linked below, that the cash for clunkers program might have caused a brief bounce in automobile shipments. We know from the report issued a few days ago that bounce in auto sales was quite brief. Here's the link to the report, which is quite interesting:

Rail Freight Shipments Plunging


  1. Home sales were up in July and Bernake declares the U.S. Economy is on the verge of recovery.

  2. ROFLMAO. Bernanke doesn't realize what an idiot he looks like to everyone who knows what's really going on!