by John Galt
October 14, 2009
Just a sample of the headlines and how the Bubblemedia and MSM are all dying to insure that they find the remaining suckers and bleed them dry. The “hopes” that the recession is over is masked by a very bloody, blatant fact proclaimed in CSX’s own earning statement (From Pg. 10 of the Q3 8K available via Edgar through the WSJ):
If you notice the highlighted boxes and arrows what is this telling anyone with one iota of COMMON SENSE?
That’s right, the Christmas season is going to be HORRID and the retail sector is about to experience another step downwards as they are not ordering any inventory and the auto sector is realistically still D.O.A. despite the Con for Clunkers program. What you see in the report above is a dramatic drop in volume for coal because power companies inside the U.S. do not need as much coal when the associated industrial sectors are running so far under capacity that they really have no need for electricity. Not to mention that empty homes have a tendency to not consume that much power either, I’m just sayin’.
This quarter’s report for the transport and rail sectors is the tell tale for the future and it is bleak for the commercial and retail sectors moving forward. The retailers are not building inventory for Christmas (further confirmed by the port statistics nationwide) and unless the current administration can convince CONgress to pass a “Gift Card for All” program in the next 30 days, we will see another wave of bankruptcies and CRE issues arising from this disaster.