Truckers sound the alarm as shipping companies hit the skid

[Yo_Mama_Been_Loggin]

This year has been rocky for the $800 billion trucking industry.

After a raucous 2018, 2019 has seen retailers and manufacturers moving less, according to the Cass Freight Index. Freight rates have dipped year over year for six months straight. Loads on the spot market, in which retailers and manufacturers buy trucking capacity as they need it rather than through a contract, have fallen by a chilling 62.6% in May year over year.

And that means rates have dipped for independent truckers as well as major companies. Rates for van loads sank 20% in May year over year, according to DAT.

The earnings of big and small players alike are getting hit as factory activity continues to decline. The Lexington, Ky., owner-operator Chad Boblett said some truck drivers are seeing a "bloodbath."



https://www.msn.com/en-us/money/companies/truckers-sound-the-alarm-as-shipping-companies-hit-the-skids/ar-AAD4tQq?li=BBnb7Kz

But the economy's kicking ass according to Drumpf

[greyl]

1. "year over year for six months straight." ?

Plus, that graph makes it look like 2019 is on fairly close track with 2018.

[elleng]

2. IMPORTANT, as transportation is an early indicator of economic health.

'Rates' are important, were regulated in the past, but more important: 'Loads on the spot market, in which retailers and manufacturers buy trucking capacity as they need it rather than through a contract, have fallen by a chilling 62.6% in May year over year.'

And there's this: Global Economic Growth Is Already Slowing. The U.S. Trade War Is Making It Worse.
https://www.nytimes.com/2019/06/18/business/economy/global-economy-trade-war.html

[Sherman A1]

3. And I suspect it will get worse

There will be less grain to ship this fall as the harvest will be much slimmer due to the flooding in the central US and 2019 is predicted to be a worse Retail Sector apocalypse than last year.

This is not going to be pretty...