Look at what just plunged for the 10th straight month.
10th Straight Month
October 14 (King World News) – Peter Boockvar: After seeing the September Cass Freight shipments index, a trade détente with China can’t come soon enough along with not just eliminating the chances of more tariffs to come but getting rid of the existing ones. Volumes were down y/o/y for a 10th straight month with weakness in demand “being seen across most modes of transportation, both domestically and internationally, with many experiencing increases in the rates of decline.” There is also continued weakness in pricing as too much capacity came on line in 2018 and now combined with less shipments. Cass Freight said “we see a growing risk that GDP will go negative by year’s end.”…
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Here are their 3 main areas of concern:
1) “We are concerned about the increasingly severe declines in international airfreight volumes (especially in Asia) and the ongoing swoon in railroad volumes, especially in auto and building materials;
2) “We see the weakness in spot market pricing for transportation services, especially in trucking.”
3) “As volumes of chemical shipments have lost momentum, our concerns of the global slowdown spreading to the US, and the trade dispute reaching a ‘point of no return’ from an economic perspective grow.”
Their bottom line, “more and more data are indicating that this is the beginning of an economic contraction.” My bottom line, buying the amount of US ag the Chinese were buying before the trade fight is not going to stem the slowdown in activity. It will need to be a rolling back of the existing tariffs along with taking off the table the threat of more. That would be the best stimulus plan we can see at this point. As for how to challenge China and the threat to our IP, in addition to continuing to push for their protection of it in a court of law (they do exist in China), go directly after those that steal it, both at a corporate individual level which we have started to do.
KWN has just released the powerful audio interview with Egon von Greyerz and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
Cashin – Focus On China, London And Syria
READ THIS NEXT! Art Cashin – Focus Is On China, London And Syria CLICK HERE TO READ
More articles to follow…
Greyerz – This Is A Snapshot Of The Terrifying Collapse The World Will Endure CLICK HERE TO READ
Tom McClellan Update On The Silver Market CLICK HERE TO READ
Greyerz – This Is The Truly Shocking Thing About Gold’s Surge To $1,550 CLICK HERE TO READ
UPDATE: The Big Picture With Gold Pulling Back CLICK HERE TO READ
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