For These Four States, The Recession(Depression) Has Arrived

Monday, February 22, 2016
By Paul Martin

by Tyler Durden

“The industrial environment is in a recession – I don’t care what anybody says,” Fastenal CFO Daniel Florness exclaimed in frustration back in October when William Blair analyst Ryan Merkel dared to suggest that the US economy wasn’t in fact in the doldrums on the company’s Q3 call.

No matter where you look there are signs that Marc Faber is correct to suggest that the US is already in a recession. Plunging oil prices have wreaked havoc on the country’s oil boom towns and America’s beleaguered manufacturing sector – which exists as but a shadow of its former self – is set to suffer mightily under the strong dollar. Just this morning we got a fresh warning about the the health of the manufacturing sector when US factories reported the worst business conditions in three years.

Last month we learned that in November, US freight volumes fell for the first time in three years and before that, the recession.

That’s consistent with what we’ve seen in the trucking industry, where Class 8 sales growth is in freefall, which just last week cost 1,250 people their jobs at Daimler in North Carolina. “Everybody around here’s been hurting, and it’s going to hurt even more,” one convenience store clerk told the local media in the wake of the layoffs.

The Rest…HERE

Comments are closed.

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter