The Bad Economy is About to Get A Lot Worse

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As I scanned the news, FinTwit, and Telegram today one Tweet caught my attention by Craig Fuller, the founder and CEO of FreightWaves. It is a must read news site much like the Journal of Commerce and other Logistics/Transportation related websites that geeks like me read all of the time.

What he has to say below should be viewed as a warning to everyone that President Senile is not going to have a very Merry Retail Christmas:

As LA goes, the rest of the country follows.

The LA trucking market is a leading indicator of activity across the rest of the US, providing a 2+ week advanced look at the rest of the market. Vols out of LA have now dipped below 19 levels (note: this is “peak” season). pic.twitter.com/gAUV2e6cLU
— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) October 11, 2022

If imports have tanked to this degree and inventories remain stubbornly high, it could well be the damning indicator of stagflation taking full hold of the economy. Thus negative growth across the board in employment data, government receipts, and consumer spending should be expected in the 3rd quarter and especially the 4th quarter of this year.

How bad is this Christmas shopping season shaping up to be?

THAT BAD.

When the former anti-eat turkey with your family retailers end their Black Thursday-Friday-Saturday experiment it means the margins are shot and they know the consumer is exhausted by the persistent inflation hitting the USA.

Thus when you sit down to enjoy your $4.99 per lb turkey this year (maybe the store brand on sale?) remember you can keep eating and drinking late into the night so you don’t have to hurry down and rush to get that one POS ChiCom televisions by standing in line like an idiot.

This crash is going to hurt. Buckle up and you might want to put some gold and silver on that.