Editor’s Note: This is no joke! Many economic flags are waving red and the alarm bells are sounding ever-louder each day. There is an economic collapse ahead that the world has never seen before. Read Rev 6 and pay attention to the Black Horse Rider and what his payload will bring. Terrible and catastrophic! The Bible is never wrong and it’s prophecies always play out. America has dissed Almighty God and the consequences of turning our backs on Him and constantly poking Him in the eye by rejection, rebelliousness and trampling on His laws, precepts, statutes and testimonies will cause this once great nation to crumble. And it will be fast – suddenly. No scare-mongering here, just what this author sees as he stands watch and hears the drum beats of war, economic calamities, chaos, confusion and social upheaval. Take note; prepare and please do not treat this as fear-mongering or conspiracy whaling. Remember, the Lord hears and sees everything that goes on and He is in absolutely Sovereign control of all.
“And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. 6- And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.” -Rev 6:5-6 (KJV)
“For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.” -1 Th 5:4 (KJV)
The following article was originally published by Michael Snyder at The Economic Collapse Blog. (Used by permission)
They Are Calling This A “Bloodbath” For The $800 Billion Trucking Industry As U.S. Economic Activity Dramatically Declines
By Michael Snyder – June 18, 2019
The U.S. trucking industry has not experienced a downturn of this magnitude since the last financial crisis, and this is one of the clearest signs yet that the U.S. economy is steamrolling into a severe economic downturn. When economic activity is increasing, the trucking industry sees rising demand for their services and freight rates tend to go up. That is precisely what we witnessed in 2018, and truckers were hoping for more of the same in 2019. But when economic activity is on the decline, the trucking industry sees decreasing demand for their services and freight rates tend to go down. Unfortunately, the numbers that the U.S. trucking industry is reporting right now are absolutely abysmal. Freight rates have now fallen for six months in a row on a year-over-year basis, and according to Business Insider during the month of May loads on the spot market fell “by a chilling 62.6%” compared to last year…
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.
The spot market is where we see the marginal changes in demand most clearly, and what this is telling us is that we are already in a transportation recession.
Of course that is almost certainly putting it too nicely. According to one owner-operator, what we are witnessing right now is nothing short of a “bloodbath”…
The earnings of big and small players alike are getting hit as factory activity continues to decline. The Lexington, Kentucky-based owner-operator Chad Boblett said some truck drivers are seeing a “bloodbath.”
There has been a spate of trucking companies declaring bankruptcy this year, too. The largest was New England Motor Freight, which was No. 19 in its trucking segment. Falcon Transport also shut down this year, abruptly laying off some 550 employees in April.
If demand does not start rebounding really soon, we are going to see many more trucking companies go bankrupt.
And of course it isn’t just trucking companies that are licking their wounds right now. All modes of transportation are down compared to last year, and that is a clear indication that big trouble is ahead for the U.S. economy. According to Wolf Richter, the Cass Freight Index just suffered it’s largest drop “since November 2009″…
Freight shipment volume in the US dropped 6.0% in May compared to May last year, the sixth month in a row of year-over-year declines, and the sharpest year-over-year drop since November 2009, according to the Cass Freight Index for Shipments.
The index tracks shipments of goods for consumer and industrial sectors across all modes of transportation – truck, rail, air, and barge.
What a difference one year can make.
Last year at this time we were in the midst of a trucking boom, and as a result orders for heavy trucks surged to record highs…
In late 2017 and through summer of 2018, freight rates had been driven up by a capacity crunch in the trucking industry, and a panic amid shippers – such as big retailers or industrial companies that need to get their merchandise across the country – that trucking companies won’t be able to keep up with demand.
To meet that demand, truckers went on a buying binge, ordering a record number of Class-8 trucks that now have entered service.
But now that the trucking boom has turned into a trucking bust, we are watching orders for heavy trucks absolutely collapse.
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Fear God and Flee from Evil!
-BPWatcher, Internet Preacher and Bible Prophecy Watchman
Pray for the peace of Jerusalem – Psa 122:6 (KJV)