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07 January 2010
Which way for the economy..the real economy
We've put up the new Railfax http://railfax.transmatch.com/ report which takes us almost all the way to New Years Day. Persistent weakness in coal is the reason total traffic numbers haven't yet surpassed last year's horrific level. Cyclical and intermodal traffic which better reflect economic activity are notching positive YoY comparisons. We should have another quarter or two of easy YoY comparisons before we have to decide what we are going to do with our economy. Our choices? Borrow to buy imported sportjackets from China? Intermodal. Burn coal to run our PCs and warm the planet? Build more houses we don't need? Lumber and crushed stone. Build more cars we can't afford? Metals, Chemicals. I have to admit it's difficult to imagine a path to a new economy or a way back to the dysfunctional economy we had back in 2007.
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